Fair Value (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value [Abstract]

Recurring Fair Value Measurements

	December 31, 2012
	Fair Value Hierarchy
	Level 1		Level 2		Level 3		Total Estimated Fair  Value
	(In millions)
Assets:
Fixed maturity securities:
U.S. corporate	$	—	$	106,693	$	7,433	$	114,126
Foreign corporate		—		60,976		6,208		67,184
Foreign government		—		55,522		1,814		57,336
U.S. Treasury and agency		27,441		20,455		71		47,967
RMBS		—		35,442		2,037		37,479
CMBS		—		17,982		1,147		19,129
ABS		—		12,341		3,656		15,997
State and political subdivision		—		14,994		54		15,048
Total fixed maturity securities		27,441		324,405		22,420		374,266
Equity securities:
Common stock		932		1,040		190		2,162
Non-redeemable preferred stock		—		310		419		729
Total equity securities		932		1,350		609		2,891
FVO and trading securities:
Actively Traded Securities		7		646		6		659
FVO general account securities		—		151		32		183
FVO contractholder-directed unit-linked investments		9,103		5,425		937		15,465
FVO securities held by CSEs		—		41		—		41
Total FVO and trading securities		9,110		6,263		975		16,348
Short-term investments (1)		9,426		6,295		429		16,150
Mortgage loans:
Commercial mortgage loans held by CSEs		—		2,666		—		2,666
Mortgage loans held-for-sale (2), (3)		—		—		49		49
Total mortgage loans		—		2,666		49		2,715
Other invested assets:
MSRs (3)		—		—		—		—
Other investments		303		123		—		426
Derivative assets: (4)
Interest rate		1		9,648		206		9,855
Foreign currency exchange rate		4		819		44		867
Credit		—		47		43		90
Equity market		14		2,478		473		2,965
Total derivative assets		19		12,992		766		13,777
Total other invested assets		322		13,115		766		14,203
Net embedded derivatives within asset host contracts (5)		—		1		505		506
Separate account assets (6)		31,620		202,568		1,205		235,393
Total assets	$	78,851	$	556,663	$	26,958	$	662,472
Liabilities:
Derivative liabilities: (4)
Interest rate	$	38	$	3,001	$	29	$	3,068
Foreign currency exchange rate		—		1,521		7		1,528
Credit		—		39		—		39
Equity market		132		424		345		901
Total derivative liabilities		170		4,985		381		5,536
Net embedded derivatives within liability host contracts (5)		—		17		3,667		3,684
Long-term debt of CSEs		—		2,483		44		2,527
Liability related to securitized reverse residential mortgage loans (3), (7)		—		—		—		—
Trading liabilities (7)		163		—		—		163
Total liabilities	$	333	$	7,485	$	4,092	$	11,910

	December 31, 2011
	Fair Value Hierarchy						Total Estimated Fair Value
	Level 1		Level 2		Level 3
	(In millions)
Assets:
Fixed maturity securities:
U.S. corporate	$	—	$	99,001	$	6,784	$	105,785
Foreign corporate		—		59,648		4,370		64,018
Foreign government		76		50,138		2,322		52,536
U.S. Treasury and agency		19,911		20,070		31		40,012
RMBS		—		41,035		1,602		42,637
CMBS		—		18,316		753		19,069
ABS		—		11,129		1,850		12,979
State and political subdivision		—		13,182		53		13,235
Total fixed maturity securities		19,987		312,519		17,765		350,271
Equity securities:
Common stock		819		1,105		281		2,205
Non-redeemable preferred stock		—		380		438		818
Total equity securities		819		1,485		719		3,023
FVO and trading securities:
Actively Traded Securities		—		473		—		473
FVO general account securities		—		244		23		267
FVO contractholder-directed unit-linked investments		7,572		8,453		1,386		17,411
FVO securities held by CSEs		—		117		—		117
Total FVO and trading securities		7,572		9,287		1,409		18,268
Short-term investments (1)		8,150		8,120		590		16,860
Mortgage loans:
Commercial mortgage loans held by CSEs		—		3,138		—		3,138
Mortgage loans held-for-sale (2)		—		9,302		1,414		10,716
Total mortgage loans		—		12,440		1,414		13,854
Other invested assets:
MSRs		—		—		666		666
Other investments		312		124		—		436
Derivative assets: (4)
Interest rate		32		10,426		338		10,796
Foreign currency exchange rate		1		1,316		61		1,378
Credit		—		301		29		330
Equity market		29		2,703		964		3,696
Total derivative assets		62		14,746		1,392		16,200
Total other invested assets		374		14,870		2,058		17,302
Net embedded derivatives within asset host contracts (5)		—		1		362		363
Separate account assets (6)		28,191		173,507		1,325		203,023
Total assets	$	65,093	$	532,229	$	25,642	$	622,964
Liabilities:
Derivative liabilities: (4)
Interest rate	$	91	$	2,351	$	38	$	2,480
Foreign currency exchange rate		—		1,103		17		1,120
Credit		—		85		28		113
Equity market		12		211		75		298
Total derivative liabilities		103		3,750		158		4,011
Net embedded derivatives within liability host contracts (5)		—		19		4,565		4,584
Long-term debt of CSEs		—		2,952		116		3,068
Liability related to securitized reverse residential mortgage loans (7)		—		6,451		1,175		7,626
Trading liabilities (7)		124		3		—		127
Total liabilities	$	227	$	13,175	$	6,014	$	19,416

(1) Short-term investments as presented in the tables above differ from the amounts presented in the consolidated balance sheets because certain short-term investments are not measured at estimated fair value on a recurring basis.

(2) Mortgage loans held-for-sale are comprised of securitized reverse residential mortgage loans and residential mortgage loans held-for-sale. See “— Fair Value Option” for additional information. The amounts in the preceding tables differ from the amount presented in the consolidated balance sheets as these tables do not include mortgage loans that are stated at lower of amortized cost or estimated fair value.

(3) As a result of the MetLife Bank Divestiture described in Note 3, the Company disposed of certain mortgage loans and de-recognized its securitized reverse residential mortgage loans and corresponding liabilities presented in the table above and in the related fair value option disclosures.

(4) Derivative liabilities are presented within other liabilities in the consolidated balance sheets. The amounts are presented gross in the tables above to reflect the presentation in the consolidated balance sheets, but are presented net for purposes of the rollforward in the Fair Value Measurements Using Significant Unobservable Inputs (Level 3) tables.

(5) Net embedded derivatives within asset host contracts are presented primarily within premiums, reinsurance and other receivables in the consolidated balance sheets. Net embedded derivatives within liability host contracts are presented primarily within PABs in the consolidated balance sheets. At December 31, 2012, fixed maturity securities and equity securities also included embedded derivatives of $0 and ($88) million, respectively. At December 31, 2011, fixed maturity securities and equity securities included embedded derivatives of $2 million and ($72) million, respectively.

(6) Investment performance related to separate account assets is fully offset by corresponding amounts credited to contractholders whose liability is reflected within separate account liabilities. Separate account liabilities are set equal to the estimated fair value of separate account assets.

(7) The liability related to securitized reverse residential mortgage loans and trading liabilities are presented within other liabilities in the consolidated balance sheets.

Fair Value Inputs, Quantitative Information

	Valuation Techniques	Significant Unobservable Inputs	Range			Weighted Average
Fixed maturity securities:
U.S. corporate and foreign corporate	•  Matrix pricing	•  Delta spread adjustments (1)	(50)	–	500		90
		•  Illiquidity premium (1)	30	–	30
		•  Spreads from below investment grade curves (1)	(157)	–	876		205
		•  Offered quotes (2)	—	–	348
	•  Market pricing	•  Quoted prices (2)	(1,416)	–	830		132
	•  Consensus pricing	•  Offered quotes (2)	—	–	555
Foreign government	•  Matrix pricing	•  Spreads from below investment grade curves (1)	(58)	–	150		72
	•  Market pricing	•  Quoted prices (2)	77		146		99
	•  Consensus pricing	•  Offered quotes (2)	82	–	200
RMBS	•  Matrix pricing and discounted cash flow	•  Spreads from below investment grade curves (1)	9	–	2,980		521
	•  Market pricing	•  Quoted prices (2)	13	–	109		100
	•  Consensus pricing	•  Offered quotes (2)	28	–	100
CMBS	•  Matrix pricing and discounted cash flow	•  Spreads from below investment grade curves (1)	1	–	9,164		374
	•  Market pricing	•  Quoted prices (2)	1	–	106		99
ABS	•  Matrix pricing and discounted cash flow	•  Spreads from below investment grade curves (1)	—	–	1,829		109
	•  Market pricing	•  Quoted prices (2)	40	–	105		100
	•  Consensus pricing	•  Offered quotes (2)	—	–	111
Derivatives:
Interest rate	•  Present value techniques	•  Swap yield (1)	186	–	353
Foreign currency exchange rate	•  Present value techniques	•  Swap yield (1)	228	–	795
		•  Currency correlation	43%	–	57%
Credit	•  Present value techniques	•  Credit spreads (1)	100	–	100
	•  Consensus pricing	•  Offered quotes (3)
Equity market	•  Present value techniques	•  Volatility	13%	–	32%
	or option pricing models	•  Correlation	65%	–	65%
Embedded derivatives:
Direct and assumed guaranteed minimum benefits	•  Option pricing techniques	•  Mortality rates:
		Ages 0 - 40	0%	–	0.14%
		Ages 41 - 60	0.05%	–	0.88%
		Ages 61 – 115	0.26%	–	100%
		•  Lapse rates:
		Durations 1 - 10	0.50%	–	100%
		Durations 11 - 20	2%	–	100%
		Durations 21 - 116	2%	–	100%
		•  Utilization rates (4)	20%	–	50%
		•  Withdrawal rates	0.07%	–	20%
		•  Long-term equity volatilities	15.18%	–	40%
		•  Nonperformance risk spread	0.10%	–	1.72%

(1) For this unobservable input, range and weighted average are presented in basis points.

(2) For this unobservable input, range and weighted average are presented in accordance with the market convention for fixed maturity securities of dollars per hundred dollars of par.

(3) At December 31, 2012, independent non-binding broker quotations were used in the determination of less than 1% of the total net derivative estimated fair value.

(4) This range is attributable to certain GMIB and lifetime withdrawal benefits.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Fixed Maturity Securities:
	U.S.  Corporate			Foreign  Corporate			Foreign  Government			U.S. Treasury  and Agency			RMBS			CMBS			ABS			State and Political   Subdivision			Other
	(In millions)
Year Ended December 31, 2012:
Balance, January 1,	$	6,784		$	4,370		$	2,322		$	31		$	1,602		$	753		$	1,850		$	53		$	—
Total realized/unrealized gains (losses) included in:
Net income (loss): (1), (2)
Net investment income		14			20			14			—			27			8			18			—			—
Net investment gains (losses)		4			(78	)		(3	)		—			(7	)		(42	)		2			—			—
Net derivative gains (losses)		—			—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—			—
Other comprehensive income (loss)		328			294			45			—			275			(4	)		(2	)		3			—
Purchases (3)		1,718			2,654			431			48			952			682			2,007			5			—
Sales (3)		(1,207	)		(855	)		(673	)		(8	)		(704	)		(397	)		(177	)		(7	)		—
Issuances (3)		—			—			—			—			—			—			—			—			—
Settlements (3)		—			—			—			—			—			—			—			—			—
Transfers into Level 3 (4)		661			186			28			—			161			177			6			—			—
Transfers out of Level 3 (4)		(869	)		(383	)		(350	)		—			(269	)		(30	)		(48	)		—			—
Balance, December 31,	$	7,433		$	6,208		$	1,814		$	71		$	2,037		$	1,147		$	3,656		$	54		$	—
Changes in unrealized gains (losses) included in net income (loss): (5)
Net investment income	$	12		$	19		$	16		$	—		$	27		$	2		$	18		$	—		$	—
Net investment gains (losses)	$	(4	)	$	(30	)	$	—		$	—		$	(4	)	$	(1	)	$	—		$	—		$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Equity Securities:						FVO and Trading Securities:
	Common       Stock			Non-  redeemable  Preferred Stock			Actively Traded   Securities		FVO General Account   Securities			FVO Contractholder- directed Unit-linked     Investments			Short-term  Investments			Mortgage Loans Held-       for-sale			MSRs (6)
	(In millions)
Year Ended December 31, 2012:
Balance, January 1,	$	281		$	438		$	—	$	23		$	1,386		$	590		$	1,414		$	666
Total realized/unrealized gains (losses) included in:
Net income (loss): (1), (2)
Net investment income		—			—			—		18			25			2			—			—
Net investment gains (losses)		(1	)		2			—		—			—			—			—			—
Net derivative gains (losses)		—			—			—		—			—			—			—			—
Other revenues		—			—			—		—			—			—			(35	)		(83	)
Policyholder benefits and claims		—			—			—		—			—			—			—			—
Other expenses		—			—			—		—			—			—			—			—
Other comprehensive income (loss)		13			40			—		—			—			(26	)		—			—
Purchases (3)		99			5			6		—			604			425			1			—
Sales (3)		(140	)		(66	)		—		(9	)		(1,040	)		(559	)		(1,348	)		(485	)
Issuances (3)		—			—			—		—			—			—			7			43
Settlements (3)		—			—			—		—			—			—			(43	)		(141	)
Transfers into Level 3 (4)		3			—			—		—			—			5			56			—
Transfers out of Level 3 (4)		(65	)		—			—		—			(38	)		(8	)		(3	)		—
Balance, December 31,	$	190		$	419		$	6	$	32		$	937		$	429		$	49		$	—
Changes in unrealized gains (losses) included in net income (loss): (5)
Net investment income	$	—		$	—		$	—	$	14		$	25		$	1		$	—		$	—
Net investment gains (losses)	$	(11	)	$	—		$	—	$	—		$	—		$	—		$	—		$	—
Net derivative gains (losses)	$	—		$	—		$	—	$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—	$	—		$	—		$	—		$	(29	)	$	—
Policyholder benefits and claims	$	—		$	—		$	—	$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—	$	—		$	—		$	—		$	—		$	—

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Net Derivatives: (7)
	Interest      Rate			Foreign Currency Exchange       Rate			Credit			Equity     Market			Net Embedded    Derivatives (8)			Separate Account   Assets (9)			Long-term Debt of       CSEs			Liability Related to Securitized Reverse Mortgage       Loans
	(In millions)
Year Ended December 31, 2012:
Balance, January 1,	$	300		$	44		$	1		$	889		$	(4,203	)	$	1,325		$	(116	)	$	(1,175	)
Total realized/unrealized gains (losses) included in:
Net income (loss): (1), (2)
Net investment income		—			—			—			—			—			—			—			—
Net investment gains (losses)		—			—			—			—			—			99			(7	)		—
Net derivative gains (losses)		15			10			48			(606	)		1,305			—			—			—
Other revenues		(67	)		—			—			—			—			—			—			1
Policyholder benefits and claims		—			—			—			29			75			—			—			—
Other expenses		—			—			—			—			—			—			—			—
Other comprehensive income (loss)		—			—			—			(3	)		259			—			—			—
Purchases (3)		—			—			—			19			—			244			—			—
Sales (3)		—			—			—			—			—			(443	)		—			1,149
Issuances (3)		—			—			(3	)		(44	)		—			2			—			—
Settlements (3)		(71	)		(17	)		(3	)		(156	)		(598	)		(1	)		79			23
Transfers into Level 3 (4)		—			—			—			—			—			24			—			—
Transfers out of Level 3 (4)		—			—			—			—			—			(45	)		—			2
Balance, December 31,	$	177		$	37		$	43		$	128		$	(3,162	)	$	1,205		$	(44	)	$	—
Changes in unrealized gains (losses) included in net income (loss): (5)
Net investment income	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	(7	)	$	—
Net derivative gains (losses)	$	—		$	(12	)	$	47		$	(593	)	$	1,275		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	29		$	78		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Fixed Maturity Securities:
	U.S.  Corporate			Foreign  Corporate			Foreign  Government			U.S. Treasury  and Agency			RMBS			CMBS			ABS			State and Political   Subdivision			Other
	(In millions)
Year Ended December 31, 2011:
Balance, January 1,	$	7,149		$	5,726		$	3,134		$	79		$	2,541		$	1,011		$	3,026		$	46		$	4
Total realized/unrealized gains (losses) included in:
Net income (loss): (1), (2)
Net investment income		11			27			18			—			10			25			24			—			—
Net investment gains (losses)		17			(9	)		—			—			(41	)		(16	)		(18	)		—			—
Net derivative gains (losses)		—			—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—			—
Other comprehensive income (loss)		327			(66	)		—			3			(5	)		71			81			(8	)		—
Purchases (3)		912			1,740			529			6			393			283			1,033			11			—
Sales (3)		(887	)		(2,094	)		(179	)		(1	)		(213	)		(178	)		(659	)		(4	)		(4	)
Issuances (3)		—			—			—			—			—			—			—			—			—
Settlements (3)		—			—			—			—			—			—			—			—			—
Transfers into Level 3 (4)		169			211			123			—			20			52			14			10			—
Transfers out of Level 3 (4)		(914	)		(1,165	)		(1,303	)		(56	)		(1,103	)		(495	)		(1,651	)		(2	)		—
Balance, December 31,	$	6,784		$	4,370		$	2,322		$	31		$	1,602		$	753		$	1,850		$	53		$	—
Changes in unrealized gains (losses) included in net income (loss): (5)
Net investment income	$	10		$	19		$	18		$	—		$	11		$	24		$	20		$	—		$	—
Net investment gains (losses)	$	(27	)	$	(31	)	$	(3	)	$	—		$	(41	)	$	(14	)	$	(10	)	$	—		$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Equity Securities:						FVO and Trading Securities:
	Common      Stock			Non- redeemable Preferred       Stock			Actively Traded   Securities			FVO General Account   Securities			FVO Contractholder- directed Unit-linked      Investments			Short-term   Investments			Mortgage Loans Held-       for-sale			MSRs (6)
	(In millions)
Year Ended December 31, 2011:
Balance, January 1,	$	268		$	905		$	10		$	77		$	735		$	858		$	24		$	950
Total realized/unrealized gains (losses) included in:
Net income (loss): (1), (2)
Net investment income		—			—			—			(7	)		5			3			—			—
Net investment gains (losses)		14			(71	)		—			—			—			(2	)		—			—
Net derivative gains (losses)		—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			5			(314	)
Policyholder benefits and claims		—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—
Other comprehensive income (loss)		5			5			—			—			—			2			—			—
Purchases (3)		106			3			—			—			1,246			600			3			—
Sales (3)		(46	)		(416	)		(8	)		(33	)		(478	)		(870	)		—			—
Issuances (3)		—			—			—			—			—			—			1,361			173
Settlements (3)		—			—			—			—			—			—			(87	)		(143	)
Transfers into Level 3 (4)		—			12			—			—			121			—			109			—
Transfers out of Level 3 (4)		(66	)		—			(2	)		(14	)		(243	)		(1	)		(1	)		—
Balance, December 31,	$	281		$	438		$	—		$	23		$	1,386		$	590		$	1,414		$	666
Changes in unrealized gains (losses) included in net income (loss): (5)
Net investment income	$	—		$	—		$	—		$	(8	)	$	(4	)	$	—		$	—		$	—
Net investment gains (losses)	$	(6	)	$	(19	)	$	—		$	—		$	—		$	(1	)	$	—		$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	5		$	(282	)
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Net Derivatives: (7)
	Interest       Rate			Foreign Currency Exchange       Rate			Credit			Equity   Market			Net Embedded    Derivatives (8)			Separate Account   Assets (9)			Long-term Debt of       CSEs			Liability Related to Securitized Reverse Mortgage          Loans
	(In millions)
Year Ended December 31, 2011:
Balance, January 1,	$	(86	)	$	73		$	44		$	142		$	(2,438	)	$	1,983		$	(184	)	$	—
Total realized/unrealized gains (losses) included in:
Net income (loss): (1), (2)
Net investment income		—			—			—			(3	)		—			—			—			—
Net investment gains (losses)		—			—			—			—			—			39			(8	)		—
Net derivative gains (losses)		41			(28	)		(43	)		601			(1,277	)		—			—			—
Other revenues		62			—			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			7			86			—			—			—
Other expenses		—			—			—			—			—			—			—			—
Other comprehensive income (loss)		329			—			14			1			(119	)		—			—			—
Purchases (3)		(1	)		—			1			228			—			284			—			—
Sales (3)		—			—			—			—			—			(743	)		—			—
Issuances (3)		—			—			(3	)		(4	)		—			—			—			(1,175	)
Settlements (3)		(44	)		(1	)		(12	)		(8	)		(455	)		—			76			—
Transfers into Level 3 (4)		(1	)		—			—			—			—			19			—			—
Transfers out of Level 3 (4)		—			—			—			(75	)		—			(257	)		—			—
Balance, December 31,	$	300		$	44		$	1		$	889		$	(4,203	)	$	1,325		$	(116	)	$	(1,175	)
Changes in unrealized gains (losses) included in net income (loss): (5)
Net investment income	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	(8	)	$	—
Net derivative gains (losses)	$	24		$	(24	)	$	(42	)	$	601		$	(1,303	)	$	—		$	—		$	—
Other revenues	$	68		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	7		$	94		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Fixed Maturity Securities:
	U.S.   Corporate			Foreign   Corporate			Foreign   Government			U.S. Treasury  and Agency			RMBS			CMBS			ABS			State and Political  Subdivision			Other
	(In millions)
Year Ended December 31, 2010:
Balance, January 1,	$	6,694		$	5,244		$	378		$	37		$	2,884		$	139		$	1,659		$	69		$	6
Total realized/unrealized gains (losses) included in:
Net income (loss): (1), (2)
Net investment income		22			15			6			—			64			1			9			—			1
Net investment gains (losses)		(13	)		(34	)		(5	)		—			(59	)		(6	)		(40	)		—			—
Net derivative gains (losses)		—			—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—			—
Other comprehensive income (loss)		277			318			(95	)		2			305			89			168			(2	)		2
Purchases, sales, issuances and settlements (3)		(415	)		305			2,965			(6	)		(445	)		684			1,435			9			(5	)
Transfers into Level 3 (4)		898			502			40			46			91			132			28			—			—
Transfers out of Level 3 (4)		(314	)		(624	)		(155	)		—			(299	)		(28	)		(233	)		(30	)		—
Balance, December 31,	$	7,149		$	5,726		$	3,134		$	79		$	2,541		$	1,011		$	3,026		$	46		$	4
Changes in unrealized gains (losses) included in net income (loss): (5)
Net investment income	$	13		$	15		$	10		$	—		$	63		$	1		$	9		$	—		$	1
Net investment gains (losses)	$	(44	)	$	(43	)	$	—		$	—		$	(29	)	$	(6	)	$	(23	)	$	—		$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Equity Securities:						FVO and Trading Securities:
	Common     Stock			Non- redeemable Preferred     Stock			Actively Traded   Securities			FVO General Account   Securities			FVO Contractholder- directed Unit-linked     Investments			Short-term   Investments			Mortgage Loans Held-     for-sale			MSRs (6)
	(In millions)
Year Ended December 31, 2010:
Balance, January 1,	$	136		$	1,102		$	32		$	51		$	—		$	23		$	25		$	878
Total realized/unrealized gains (losses) included in:
Net income (loss): (1), (2)
Net investment income		—			—			—			8			(15	)		2			—			—
Net investment gains (losses)		5			46			—			—			—			—			—			—
Net derivative gains (losses)		—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			(2	)		(79	)
Policyholder benefits and claims		—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—
Other comprehensive income (loss)		7			12			—			—			—			(9	)		—			—
Purchases, sales, issuances and settlements (3)		128			(250	)		(22	)		(1	)		750			842			—			151
Transfers into Level 3 (4)		1			—			—			37			—			—			10			—
Transfers out of Level 3 (4)		(9	)		(5	)		—			(18	)		—			—			(9	)		—
Balance, December 31,	$	268		$	905		$	10		$	77		$	735		$	858		$	24		$	950
Changes in unrealized gains (losses) included in net income (loss): (5)
Net investment income	$	—		$	—		$	—		$	12		$	(15	)	$	2		$	—		$	—
Net investment gains (losses)	$	(2	)	$	(3	)	$	—		$	—		$	—		$	—		$	—		$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	(2	)	$	(28	)
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Net Derivatives: (7)
	Interest Rate			Foreign Currency Exchange Rate			Credit			Equity Market			Net Embedded Derivatives  (8)			Separate Account Assets (9)			Long-term Debt of CSEs (10)
	(In millions)
Year Ended December 31, 2010:
Balance, January 1,	$	7		$	108		$	42		$	199		$	(1,455	)	$	1,797		$	—
Total realized/unrealized gains (losses) included in:
Net income (loss): (1), (2)
Net investment income		—			—			—			—			—			—			—
Net investment gains (losses)		—			—			—			—			—			132			48
Net derivative gains (losses)		36			46			4			(88	)		(343	)		—			—
Other revenues		1			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			—			8			—			—
Other expenses		—			(4	)		—			—			—			—			—
Other comprehensive income (loss)		(107	)		2			13			11			(226	)		—			—
Purchases, sales, issuances and settlements (3)		(23	)		(57	)		(15	)		20			(422	)		242			(232	)
Transfers into Level 3 (4)		—			—			—			—			—			46			—
Transfers out of Level 3 (4)		—			(22	)		—			—			—			(234	)		—
Balance, December 31,	$	(86	)	$	73		$	44		$	142		$	(2,438	)	$	1,983		$	(184	)
Changes in unrealized gains (losses) included in net income (loss): (5)
Net investment income	$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	48
Net derivative gains (losses)	$	36		$	45		$	6		$	(82	)	$	(363	)	$	—		$	—
Other revenues	$	5		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	8		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—

(1) Amortization of premium/discount is included within net investment income. Impairments charged to net income (loss) on securities and certain mortgage loans are included in net investment gains (losses) while changes in the estimated fair value of certain mortgage loans and MSRs are included in other revenues. Lapses associated with net embedded derivatives are included in net derivative gains (losses).

(2) Interest and dividend accruals, as well as cash interest coupons and dividends received, are excluded from the rollforward.

(3) The amount reported within purchases, sales, issuances and settlements is the purchase or issuance price and the sales or settlement proceeds based upon the actual date purchased or issued and sold or settled, respectively. Items purchased/issued and sold/settled in the same period are excluded from the rollforward. Fees attributed to embedded derivatives are included in settlements.

(4) Gains and losses, in net income (loss) and other comprehensive income (loss), are calculated assuming transfers into and/or out of Level 3 occurred at the beginning of the period. Items transferred into and then out of Level 3 in the same period are excluded from the rollforward.

(5) Relates to assets and liabilities still held at the end of the respective periods.

(6) Other revenues represent the changes in estimated fair value due to changes in valuation model inputs or assumptions. For the years ended December 31, 2012, 2011 and 2010, there were no other changes in estimated fair value affecting MSRs.

(7) Freestanding derivative assets and liabilities are presented net for purposes of the rollforward.

(8) Embedded derivative assets and liabilities are presented net for purposes of the rollforward.

(9) Investment performance related to separate account assets is fully offset by corresponding amounts credited to contractholders within separate account liabilities. Therefore, such changes in estimated fair value are not recorded in net income. For the purpose of this disclosure, these changes are presented within net investment gains (losses).

(10) The long-term debt of the CSEs consolidated as of January 1, 2010 is reported within the purchases, sales, issuances and settlements caption of the rollforward.

Fair Value, Option, Quantitative Disclosures

	Residential Mortgage Loans Held-for-Sale (1)						Securitized Reverse Residential Mortgage Loans (2)				Assets and Liabilities Held by CSEs (3)
	December 31,						December 31,				December 31,
	2012			2011			2012		2011		2012		2011
Assets:		(In millions)
Unpaid principal balance	$	80		$	2,935		$	—	$	6,914	$	2,539	$	3,019
Difference between estimated fair value and unpaid principal balance		(31	)		129			—		738		127		119
Carrying value at estimated fair value	$	49		$	3,064		$	—	$	7,652	$	2,666	$	3,138
Loans in non-accrual status	$	3		$	3		$	—	$	—	$	—	$	—
Loans more than 90 days past due	$	23		$	20		$	—	$	59	$	—	$	—
Loans in non-accrual status or more than 90 days past due, or both — difference between aggregate estimated fair value and unpaid principal balance	$	(14	)	$	(2	)	$	—	$	—	$	—	$	—
Liabilities:
Contractual principal balance							$	—	$	6,914	$	2,430	$	2,954
Difference between estimated fair value and contractual principal balance								—		712		97		114
Carrying value at estimated fair value							$	—	$	7,626	$	2,527	$	3,068

(1) Interest income on residential mortgage loans held-for-sale is recorded based on the stated rate of the loan and is recorded in net investment income. Gains and losses from initial measurement, subsequent changes in estimated fair value and gains or losses on sales are recognized in other revenues. Such changes in estimated fair value for these loans were due to the following:

	Years Ended December 31,
	2012		2011		2010
	(In millions)
Instrument-specific credit risk based on changes in credit spreads for non-agency loans and adjustments in individual loan quality	$	(1)	$	(3)	$	(1)
Other changes in estimated fair value		68		511		487
Total gains (losses) recognized in other revenues	$	67	$	508	$	486

(2) Gains and losses from initial measurement and subsequent changes in estimated fair value are recognized in other revenues for securitized reverse residential mortgage loans and related liabilities.

(3) Assets and liabilities held by CSEs are comprised of the commercial mortgage loans and long-term debt held by CSEs. Gains and losses from initial measurement, subsequent changes in estimated fair value and gains or losses on sales of these assets and liabilities are recognized in net investment gains (losses). Interest income on commercial mortgage loans held by CSEs is recognized in net investment income. Interest expense from long-term debt of CSEs is recognized in other expenses.

Estimated fair value of certain investments

	Years Ended December 31,
	2012							2011							2010
	Carrying Value Prior to Measurement		Carrying Value After Measurement		Gains (Losses)			Carrying Value Prior to Measurement		Carrying Value After Measurement		Gains (Losses)			Carrying Value Prior to Measurement		Carrying Value After Measurement		Gains (Losses)
	(In millions)
Mortgage loans: (1)
Held-for-investment	$	439	$	428	$	(11	)	$	166	$	151	$	(15	)	$	179	$	164	$	(15	)
Held-for-sale	$	350	$	319	$	(31	)	$	61	$	58	$	(3	)	$	35	$	33	$	(2	)
Other limited partnership interests (2)	$	87	$	54	$	(33	)	$	18	$	13	$	(5	)	$	35	$	23	$	(12	)
Real estate joint ventures (3)	$	16	$	10	$	(6	)	$	—	$	—	$	—		$	33	$	8	$	(25	)
Goodwill (4)	$	1,868	$	—	$	(1,868	)	$	65	$	—	$	(65	)	$	—	$	—	$	—
Other assets (5)	$	109	$	32	$	(77	)	$	—	$	—	$	—		$	—	$	—	$	—

(1) The carrying value after measurement has been adjusted for the excess of the carrying value prior to measurement over the estimated fair value. Estimated fair values for impaired mortgage loans are based on independent broker quotations or valuation models using unobservable inputs or, if the loans are in foreclosure or are otherwise determined to be collateral dependent, are based on the estimated fair value of the underlying collateral or the present value of the expected future cash flows.

(2) These investments were accounted for using the cost method. Estimated fair value is determined from information provided in the financial statements of the underlying entities including NAV data. These investments include private equity and debt funds that typically invest primarily in various strategies including domestic and international leveraged buyout funds; power, energy, timber and infrastructure development funds; venture capital funds; and below investment grade debt and mezzanine debt funds. Distributions will be generated from investment gains, from operating income from the underlying investments of the funds and from liquidation of the underlying assets of the funds. It is estimated that the underlying assets of the funds will be liquidated over the next two to 10 years. Unfunded commitments for these investments at both December 31, 2012 and 2011 were not significant.

(3) These investments were accounted for using the cost method. Estimated fair value is determined from information provided in the financial statements of the underlying entities including NAV data. These investments include several real estate funds that typically invest primarily in commercial real estate. Distributions will be generated from investment gains, from operating income from the underlying investments of the funds and from liquidation of the underlying assets of the funds. It is estimated that the underlying assets of the funds will be liquidated over the next two to 10 years. Unfunded commitments for these investments at both December 31, 2012 and 2011 were not significant.

(4) As discussed in Note 11, in 2012, the Company recorded an impairment of goodwill associated with the Retail Annuities reporting unit. In addition, in 2011, the Company recorded an impairment of goodwill associated with MetLife Bank.

(5) As discussed in Note 5, in 2012, the Company recorded an impairment of VOCRA, which is included in other assets.

Fair value of financial instruments

	December 31, 2012
			Fair Value Hierarchy
	Carrying Value		Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets:
Mortgage loans:
Held-for-investment	$	53,926	$	—	$	—	$	57,381	$	57,381
Held-for-sale		365		—		—		365		365
Mortgage loans, net	$	54,291	$	—	$	—	$	57,746	$	57,746
Policy loans	$	11,884	$	—	$	1,690	$	12,567	$	14,257
Real estate joint ventures	$	113	$	—	$	—	$	171	$	171
Other limited partnership interests	$	1,154	$	—	$	—	$	1,277	$	1,277
Other invested assets	$	815	$	305	$	144	$	366	$	815
Premiums, reinsurance and other receivables	$	3,287	$	—	$	745	$	2,960	$	3,705
Other assets	$	260	$	—	$	214	$	78	$	292
Liabilities:
PABs	$	149,928	$	—	$	—	$	158,040	$	158,040
Bank deposits	$	6,416	$	—	$	2,018	$	4,398	$	6,416
Long-term debt	$	16,502	$	—	$	18,978	$	—	$	18,978
Collateral financing arrangements	$	4,196	$	—	$	—	$	3,839	$	3,839
Junior subordinated debt securities	$	3,192	$	—	$	3,984	$	—	$	3,984
Other liabilities	$	1,913	$	—	$	673	$	1,243	$	1,916
Separate account liabilities	$	58,726	$	—	$	58,726	$	—	$	58,726
Commitments: (1)
Mortgage loan commitments	$	—	$	—	$	—	$	12	$	12
Commitments to fund bank credit facilities, bridge loans and private corporate bond investments	$	—	$	—	$	22	$	—	$	22

	December 31, 2011
	Carrying Value		Estimated Fair Value
	(In millions)
Assets:
Mortgage loans:
Held-for-investment	$	53,777	$	56,422
Held-for-sale		4,462		4,462
Mortgage loans, net	$	58,239	$	60,884
Policy loans	$	11,892	$	14,213
Real estate joint ventures	$	130	$	183
Other limited partnership interests	$	1,318	$	1,656
Other invested assets	$	1,434	$	1,434
Premiums, reinsurance and other receivables	$	4,639	$	5,232
Other assets	$	310	$	308
Liabilities:
PABs	$	146,890	$	153,304
Bank deposits	$	10,507	$	10,507
Long-term debt	$	20,587	$	22,514
Collateral financing arrangements	$	4,647	$	4,136
Junior subordinated debt securities	$	3,192	$	3,491
Other liabilities	$	4,087	$	4,087
Separate account liabilities	$	49,610	$	49,610
Commitments: (1)
Mortgage loan commitments	$	—	$	3
Commitments to fund bank credit facilities, bridge loans and private corporate bond investments	$	—	$	51

(1) Commitments are off-balance sheet obligations. Negative estimated fair values represent off-balance sheet liabilities. See Note 21 for additional information on these off-balance sheet obligations.