Closed Block (Tables)

9 Months Ended

Sep. 30, 2012

Closed Block [Abstract]

Information regarding the closed block liabilities and assets

	September 30, 2012			December 31, 2011
	(In millions)
Closed Block Liabilities
Future policy benefits	$	42,680		$	43,169
Other policy-related balances		325			358
Policyholder dividends payable		561			514
Policyholder dividend obligation		3,909			2,919
Other liabilities		723			613
Total closed block liabilities		48,198			47,573
Assets Designated to the Closed Block
Investments:
Fixed maturity securities available-for-sale, at estimated fair value		31,198			30,407
Equity securities available-for-sale, at estimated fair value		44			35
Mortgage loans		6,242			6,206
Policy loans		4,673			4,657
Real estate and real estate joint ventures		344			364
Other invested assets		819			857
Total investments		43,320			42,526
Cash and cash equivalents		254			249
Accrued investment income		519			509
Premiums, reinsurance and other receivables		97			109
Current income tax recoverable		—			53
Deferred income tax assets		341			362
Total assets designated to the closed block		44,531			43,808
Excess of closed block liabilities over assets designated to the closed block		3,667			3,765
Amounts included in accumulated other comprehensive income (loss):
Unrealized investment gains (losses), net of income tax		2,980			2,394
Unrealized gains (losses) on derivative instruments, net of income tax		13			11
Allocated to policyholder dividend obligation, net of income tax		(2,541	)		(1,897	)
Total amounts included in accumulated other comprehensive income (loss)		452			508
Maximum future earnings to be recognized from closed block assets and liabilities	$	4,119		$	4,273

Closed block policyholder dividend obligation

	Nine Months Ended September 30, 2012		Year Ended December 31, 2011
	(In millions)
Balance, beginning of period	$	2,919	$	876
Change in unrealized investment and derivative gains (losses)		990		2,043
Balance, end of period	$	3,909	$	2,919

Information regarding the closed block revenues and expenses

	Three Months Ended September 30,					Nine Months Ended September 30,
	2012			2011		2012			2011
	(In millions)
Revenues
Premiums	$	512		$	554	$	1,538		$	1,657
Net investment income		555			553		1,644			1,697
Net investment gains (losses)		6			22		30			32
Net derivative gains (losses)		(9	)		17		(7	)		3
Total revenues		1,064			1,146		3,205			3,389
Expenses
Policyholder benefits and claims		654			731		2,016			2,166
Policyholder dividends		278			304		821			897
Other expenses		45			48		136			146
Total expenses		977			1,083		2,973			3,209
Revenues, net of expenses before provision for income tax expense (benefit)		87			63		232			180
Provision for income tax expense (benefit)		30			25		82			63
Revenues, net of expenses and provision for income tax expense (benefit) from continuing operations		57			38		150			117
Revenues, net of expenses and provision for income tax expense (benefit) from discontinued operations		—			—		4			1
Revenues, net of expenses and provision for income tax expense (benefit) and discontinued operations	$	57		$	38	$	154		$	118