Closed Block (Tables)

6 Months Ended

Jun. 30, 2013

Closed Block [Abstract]

Information regarding the closed block liabilities and assets

	June 30, 2013		December 31, 2012
	(In millions)
Closed Block Liabilities
Future policy benefits	$	42,228	$	42,586
Other policy-related balances		284		298
Policyholder dividends payable		489		466
Policyholder dividend obligation		2,273		3,828
Current income tax payable		21		—
Other liabilities		635		602
Total closed block liabilities		45,930		47,780
Assets Designated to the Closed Block
Investments:
Fixed maturity securities available-for-sale, at estimated fair value		28,725		30,546
Equity securities available-for-sale, at estimated fair value		94		41
Mortgage loans		6,243		6,192
Policy loans		4,670		4,670
Real estate and real estate joint ventures		463		459
Other invested assets		963		953
Total investments		41,158		42,861
Cash and cash equivalents		302		381
Accrued investment income		492		481
Premiums, reinsurance and other receivables		87		107
Current income tax recoverable		—		2
Deferred income tax assets		324		319
Total assets designated to the closed block		42,363		44,151
Excess of closed block liabilities over assets designated to the closed block		3,567		3,629
Amounts included in AOCI:
Unrealized investment gains (losses), net of income tax		1,825		2,891
Unrealized gains (losses) on derivatives, net of income tax		15		9
Allocated to policyholder dividend obligation, net of income tax		(1,477)		(2,488)
Total amounts included in AOCI		363		412
Maximum future earnings to be recognized from closed block assets and liabilities	$	3,930	$	4,041

Closed block policyholder dividend obligation

	Six Months Ended     June 30, 2013			Year Ended   December  31, 2012
	(In millions)
Balance, beginning of period	$	3,828		$	2,919
Change in unrealized investment and derivative gains (losses)		(1,555	)		909
Balance, end of period	$	2,273		$	3,828

Information regarding the closed block revenues and expenses

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
	(In millions)
Revenues
Premiums	$	489	$	528	$	953	$	1,026
Net investment income		529		539		1,062		1,089
Net investment gains (losses)		24		13		27		24
Net derivative gains (losses)		7		11		15		2
Total revenues		1,049		1,091		2,057		2,141
Expenses
Policyholder benefits and claims		669		700		1,312		1,362
Policyholder dividends		247		275		489		543
Other expenses		43		46		85		91
Total expenses		959		1,021		1,886		1,996
Revenues, net of expenses before provision for income tax expense (benefit)		90		70		171		145
Provision for income tax expense (benefit)		33		25		60		52
Revenues, net of expenses and provision for income tax expense (benefit) from continuing operations		57		45		111		93
Revenues, net of expenses and provision for income tax expense (benefit) from discontinued operations		—		—		—		4
Revenues, net of expenses and provision for income tax expense (benefit)	$	57	$	45	$	111	$	97