Reinsurance (Tables)

12 Months Ended

Dec. 31, 2011

Reinsurance [Abstract]

Effect of reinsurance in the consolidated statements of operations

	Years Ended December 31,
	2011			2010			2009
	(In millions)
Premiums:
Direct premiums	$	37,185		$	27,596		$	27,165
Reinsurance assumed		1,484			1,377			1,313
Reinsurance ceded		(2,308	)		(1,902	)		(2,321	)
Net premiums	$	36,361		$	27,071		$	26,157
Universal life and investment-type product policy fees:
Direct universal life and investment-type product policy fees	$	8,455		$	6,621		$	5,784
Reinsurance assumed		154			138			106
Reinsurance ceded		(803	)		(731	)		(693	)
Net universal life and investment-type product policy fees	$	7,806		$	6,028		$	5,197
Other revenues:
Direct other revenues	$	2,468		$	2,256		$	2,264
Reinsurance assumed		2			—			1
Reinsurance ceded		62			72			64
Net other revenues	$	2,532		$	2,328		$	2,329
Policyholder benefits and claims:
Direct policyholder benefits and claims	$	37,574		$	31,400		$	30,029
Reinsurance assumed		1,101			1,275			1,024
Reinsurance ceded		(3,218	)		(3,490	)		(3,050	)
Net policyholder benefits and claims	$	35,457		$	29,185		$	28,003
Interest credited to policyholder account balances:
Direct interest credited to policyholder account balances	$	5,600		$	4,917		$	4,842
Reinsurance assumed		3			2			3
Reinsurance ceded		—			—			—
Net interest credited to policyholder account balances	$	5,603		$	4,919		$	4,845
Policyholder dividends:
Direct policyholder dividends	$	1,446		$	1,485		$	1,649
Reinsurance assumed		17			17			13
Reinsurance ceded		(17	)		(17	)		(13	)
Net policyholder dividends	$	1,446		$	1,485		$	1,649
Other expenses:
Direct other expenses	$	17,865		$	12,870		$	10,565
Reinsurance assumed		168			116			100
Reinsurance ceded		(303	)		(222	)		(144	)
Net other expenses	$	17,730		$	12,764		$	10,521

Consolidated balance sheets impact of reinsurance

	December 31, 2011
	Direct		Assumed		Ceded			Total Balance Sheet
	(In millions)
Assets:
Premiums, reinsurance and other receivables	$	5,601	$	641	$	16,239		$	22,481
Deferred policy acquisition costs and value of business acquired		27,979		138		(146	)		27,971
Total assets	$	33,580	$	779	$	16,093		$	50,452
Liabilities:
Future policy benefits	$	182,281	$	1,972	$	(1	)	$	184,252
Policyholder account balances		214,206		3,494		—			217,700
Other policy-related balances		14,880		339		380			15,599
Other liabilities		25,245		630		5,039			30,914
Total liabilities	$	436,612	$	6,435	$	5,418		$	448,465

	December 31, 2010
	Direct		Assumed		Ceded			Total Balance Sheet
	(In millions)
Assets:
Premiums, reinsurance and other receivables	$	5,517	$	722	$	13,560		$	19,799
Deferred policy acquisition costs and value of business acquired		27,095		176		(179	)		27,092
Total assets	$	32,612	$	898	$	13,381		$	46,891
Liabilities:
Future policy benefits	$	168,903	$	2,074	$	(65	)	$	170,912
Policyholder account balances		208,520		2,237		—			210,757
Other policy-related balances		14,981		265		504			15,750
Other liabilities		17,057		608		2,701			20,366
Total liabilities	$	409,461	$	5,184	$	3,140		$	417,785