Closed Block (Tables)

6 Months Ended

Jun. 30, 2012

Closed Block [Abstract]

Information regarding the closed block liabilities and assets

	June 30, 2012			December 31, 2011
	(In millions)
Closed Block Liabilities
Future policy benefits	$	42,936		$	43,169
Other policy-related balances		298			358
Policyholder dividends payable		542			514
Policyholder dividend obligation		3,369			2,919
Current income tax payable		5			—
Other liabilities		672			613
Total closed block liabilities		47,822			47,573
Assets Designated to the Closed Block
Investments:
Fixed maturity securities available-for-sale, at estimated fair value		30,784			30,407
Equity securities available-for-sale, at estimated fair value		28			35
Mortgage loans		6,325			6,206
Policy loans		4,655			4,657
Real estate and real estate joint ventures		301			364
Other invested assets		767			857
Total investments		42,860			42,526
Cash and cash equivalents		313			249
Accrued investment income		507			509
Premiums, reinsurance and other receivables		86			109
Current income tax recoverable		—			53
Deferred income tax assets		358			362
Total assets designated to the closed block		44,124			43,808
Excess of closed block liabilities over assets designated to the closed block		3,698			3,765
Amounts included in accumulated other comprehensive income (loss):
Unrealized investment gains (losses), net of income tax		2,650			2,394
Unrealized gains (losses) on derivative instruments, net of income tax		18			11
Allocated to policyholder dividend obligation, net of income tax		(2,190	)		(1,897	)
Total amounts included in accumulated other comprehensive income (loss)		478			508
Maximum future earnings to be recognized from closed block assets and liabilities	$	4,176		$	4,273

Closed block policyholder dividend obligation

	Six Months Ended June 30, 2012		Year Ended December 31, 2011
	(In millions)
Balance, beginning of period	$	2,919	$	876
Change in unrealized investment and derivative gains (losses)		450		2,043
Balance, end of period	$	3,369	$	2,919

Information regarding the closed block revenues and expenses

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(In millions)
Revenues
Premiums	$	528	$	568	$	1,026	$	1,103
Net investment income		539		580		1,089		1,144
Net investment gains (losses)		13		3		24		10
Net derivative gains (losses)		11		4		2		(14	)
Total revenues		1,091		1,155		2,141		2,243
Expenses
Policyholder benefits and claims		700		746		1,362		1,435
Policyholder dividends		275		296		543		593
Other expenses		46		49		91		98
Total expenses		1,021		1,091		1,996		2,126
Revenues, net of expenses before provision for income tax expense (benefit)		70		64		145		117
Provision for income tax expense (benefit)		25		21		52		38
Revenues, net of expenses and provision for income tax expense (benefit) from continuing operations		45		43		93		79
Revenues, net of expenses and provision for income tax expense (benefit) from discontinued operations		—		1		4		1
Revenues, net of expenses and provision for income tax expense (benefit) and discontinued operations	$	45	$	44	$	97	$	80