Insurance (Tables)

12 Months Ended

Dec. 31, 2011

Insurance [Abstract]

Insurance Liabilities

	Future Policy Benefits				Policyholder Account Balances				Other Policy-Related Balances
	December 31,
	2011		2010		2011		2010		2011		2010
	(In millions)
U.S. Business:
Insurance Products	$	74,390	$	72,936	$	30,196	$	29,407	$	6,000	$	5,831
Retirement Products		10,455		8,829		48,689		46,517		161		146
Corporate Benefit Funding		44,471		39,187		56,308		57,773		181		184
Auto & Home		3,101		3,036		—		—		44		171
Total U.S. Business		132,417		123,988		135,193		133,697		6,386		6,332
International:
Japan		26,659		23,083		58,195		53,161		5,212		5,311
Other International Regions		19,002		18,043		24,278		23,857		3,590		3,684
Total International		45,661		41,126		82,473		77,018		8,802		8,995
Corporate & Other		6,174		5,798		34		42		411		423
Total	$	184,252	$	170,912	$	217,700	$	210,757	$	15,599	$	15,750

Value of Distribution Agreements and Customer Relationships Acquired

	Amount
	(In millions)
Balance at January 1, 2009	$	822
Acquisitions		—
Amortization		(34	)
Effect of foreign currency translation and other		4
Balance at December 31, 2009		792
Acquisitions		356
Amortization		(42	)
Effect of foreign currency translation and other		(12	)
Balance at December 31, 2010		1,094
Acquisitions		213
Amortization		(60	)
Effect of foreign currency translation and other		17
Balance at December 31, 2011	$	1,264

Negative Value of Business Acquired

	Amount
	(In millions)
Balance at January 1, 2010	$	—
Acquisitions		4,422
Amortization		(64	)
Effect of foreign currency translation		(71	)
Balance at December 31, 2010		4,287
Acquisitions		7
Amortization		(697	)
Effect of foreign currency translation		60
Balance at December 31, 2011	$	3,657

Sales Inducements

	Amount
	(In millions)
Balance at January 1, 2009	$	711
Capitalization		193
Amortization		(63	)
Balance at December 31, 2009		841
Capitalization		157
Amortization		(80	)
Balance at December 31, 2010		918
Capitalization		140
Amortization		(132	)
Balance at December 31, 2011	$	926

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

	December 31,
	2011		2010
	(In millions)
FHLB of New York (“FHLB of NY”)	$	658	$	890
FHLB of Boston	$	70	$	70
FHLB of Des Moines	$	51	$	20

Schedule of liability recorded and collateral pledged for funding agreements

	Liability				Collateral
	December 31,
	2011		2010		2011			2010
	(In millions)
FHLB of NY (1)	$	11,655	$	12,555	$	13,002	(2)	$	14,204	(2)
Farmer Mac (3)	$	2,750	$	2,750	$	3,157	(4)	$	3,159	(4)
FHLB of Boston (1)	$	450	$	100	$	518	(2)	$	211	(2)
FHLB of Des Moines (1)	$	695	$	—	$	953	(2)	$	—	(2)

(1) Represents funding agreements issued to the FHLB in exchange for cash and for which the FHLB has been granted either a blanket lien or a lien on certain assets, including RMBS, to collateralize obligations under the funding agreements. The Company maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral 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 the Company, the FHLB’s recovery on the collateral is limited to the amount of the Company’s liability to the 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 certain SPEs that have issued debt securities for which payment of interest and principal is secured by such funding agreements, and such debt securities are also guaranteed as to payment of interest and principal by the Federal Agricultural Mortgage Corporation, a federally chartered instrumentality of the United States (“Farmer Mac”).

(4) Secured by a pledge of certain eligible agricultural real estate mortgage loans. The amount of collateral presented is at carrying value.

Liabilities for Unpaid Claims and Claim Expenses

	Years Ended December 31,
	2011			2010			2009
	(In millions)
Balance at January 1,	$	10,708		$	8,219		$	8,260
Less: Reinsurance recoverables		2,198			547			1,042
Net balance at January 1,		8,510			7,672			7,218
Acquisitions, net		—			583			—
Incurred related to:
Current year		9,028			6,482			6,569
Prior years		(199	)		(75	)		(152	)
Total incurred		8,829			6,407			6,417
Paid related to:
Current year		(6,238	)		(4,050	)		(3,972	)
Prior years		(2,420	)		(2,102	)		(1,991	)
Total paid		(8,658	)		(6,152	)		(5,963	)
Net balance at December 31,		8,681			8,510			7,672
Add: Reinsurance recoverables		1,436			2,198			547
Balance at December 31,	$	10,117		$	10,708		$	8,219

Guarantees related to Annuity, Universal and Variable Life Contracts

	December 31,
	2011						2010
	In the Event of Death			At Annuitization			In the Event of Death			At Annuitization
	(In millions)
Annuity Contracts (1)
Return of Net Deposits
Separate account value	$	60,935		$	486		$	55,753		$	390
Net amount at risk (2)	$	8,912	(3)	$	404	(4)	$	6,194	(3)	$	289	(4)
Average attained age of contractholders		62 years			66 years			62 years			67 years
Anniversary Contract Value or Minimum Return
Separate account value	$	102,910		$	71,934		$	92,041		$	55,668
Net amount at risk (2)	$	7,729	(3)	$	11,735	(4)	$	5,297	(3)	$	6,373	(4)
Average attained age of contractholders		63 years			62 years			62 years			61 years
Two Tier Annuities
General account value		N/A		$	386			N/A		$	280
Net amount at risk (2)		N/A		$	60	(5)		N/A		$	49	(5)
Average attained age of contractholders		N/A			60 years			N/A			62 years

	December 31,
	2011						2010
	Secondary Guarantees			Paid-Up Guarantees			Secondary Guarantees			Paid-Up Guarantees
	(In millions)
Universal and Variable Life Contracts (1)
Account value (general and separate account)	$	12,946		$	3,963		$	11,015		$	4,102
Net amount at risk (2)	$	188,642	(3)	$	24,991	(3)	$	156,432	(3)	$	26,851	(3)
Average attained age of policyholders		53 years			59 years			52 years			58 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) The net amount at risk is based on the direct and assumed amount at risk (excluding ceded reinsurance).

(3) The net amount at risk for guarantees of amounts in the event of death is defined as the current GMDB in excess of the current account balance at the balance sheet date.

(4) The net amount at risk for guarantees of amounts at annuitization is defined as the present value of the minimum guaranteed annuity payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance.

(5) The net amount at risk for two tier annuities is based on the excess of the upper tier, adjusted for a profit margin, less the lower tier.

Liabilities for Guarantees

	Annuity Contracts						Universal and Variable Life Contracts
	Guaranteed     Death Benefits			Guaranteed     Annuitization Benefits			Secondary      Guarantees			Paid-Up      Guarantees		Total
	(In millions)
Direct and Assumed
Balance at January 1, 2009	$	251		$	403		$	271		$	140	$	1,065
Incurred guaranteed benefits		118			(1	)		233			34		384
Paid guaranteed benefits		(201	)		—			—			—		(201	)
Balance at December 31, 2009		168			402			504			174		1,248
Acquisitions		46			110			2,952			—		3,108
Incurred guaranteed benefits		149			111			536			24		820
Paid guaranteed benefits		(91	)		—			(1	)		—		(92	)
Balance at December 31, 2010		272			623			3,991			198		5,084
Incurred guaranteed benefits		273			269			496			23		1,061
Paid guaranteed benefits		(113	)		(10	)		(24	)		—		(147	)
Balance at December 31, 2011	$	432		$	882		$	4,463		$	221	$	5,998
Ceded
Balance at January 1, 2009	$	8		$	—		$	80		$	90	$	178
Incurred guaranteed benefits		26			—			102			32		160
Paid guaranteed benefits		(28	)		—			—			—		(28	)
Balance at December 31, 2009		6			—			182			122		310
Acquisitions		30			—			—			—		30
Incurred guaranteed benefits		18			(1	)		412			17		446
Paid guaranteed benefits		(15	)		—			—			—		(15	)
Balance at December 31, 2010		39			(1	)		594			139		771
Incurred guaranteed benefits		35			9			20			16		80
Paid guaranteed benefits		(20	)		—			—			—		(20	)
Balance at December 31, 2011	$	54		$	8		$	614		$	155	$	831
Net
Balance at January 1, 2009	$	243		$	403		$	191		$	50	$	887
Incurred guaranteed benefits		92			(1	)		131			2		224
Paid guaranteed benefits		(173	)		—			—			—		(173	)
Balance at December 31, 2009		162			402			322			52		938
Acquisitions		16			110			2,952			—		3,078
Incurred guaranteed benefits		131			112			124			7		374
Paid guaranteed benefits		(76	)		—			(1	)		—		(77	)
Balance at December 31, 2010		233			624			3,397			59		4,313
Incurred guaranteed benefits		238			260			476			7		981
Paid guaranteed benefits		(93	)		(10	)		(24	)		—		(127	)
Balance at December 31, 2011	$	378		$	874		$	3,849		$	66	$	5,167

Fund Groupings

	December 31,
	2011		2010
	(In millions)
Fund Groupings:
Equity	$	57,750	$	59,546
Balanced		52,823		40,199
Bond		9,838		9,539
Money Market		1,521		1,584
Specialty		2,034		2,192
Total	$	123,966	$	113,060