| Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 5. Investments See Note 7 for information about the fair value hierarchy for investments and the related valuation methodologies. Fixed Maturity Securities Available-for-sale (“AFS”) Fixed Maturity Securities AFS by Sector The following table presents the fixed maturity securities AFS by sector at: March 31, 2018 December 31, 2017 Amortized Gross Unrealized Estimated Amortized Gross Unrealized Estimated Gains Temporary OTTI Gains Temporary OTTI (In millions) Fixed maturity securities: (2) U.S. corporate $ 21,644 $ 1,320 $ 276 $ — $ 22,688 $ 20,647 $ 1,822 $ 89 $ — $ 22,380 U.S. government and agency 12,367 1,448 219 — 13,596 14,185 1,844 116 — 15,913 RMBS 7,645 250 150 (2 ) 7,747 7,588 283 57 (3 ) 7,817 Foreign corporate 6,477 288 91 — 6,674 6,457 376 62 — 6,771 State and political subdivision 3,567 459 18 — 4,008 3,573 532 6 1 4,098 CMBS 3,752 16 57 (1 ) 3,712 3,259 48 17 (1 ) 3,291 ABS 1,854 18 3 — 1,869 1,779 19 2 — 1,796 Foreign government 1,154 123 11 — 1,266 1,111 159 3 — 1,267 Total fixed maturity securities $ 58,460 $ 3,922 $ 825 $ (3 ) $ 61,560 $ 58,599 $ 5,083 $ 352 $ (3 ) $ 63,333 __________________ (1) Noncredit OTTI losses included in AOCI in an unrealized gain position are due to increases in estimated fair value subsequent to initial recognition of noncredit losses on such securities. See also “— Net Unrealized Investment Gains (Losses).” (2) Redeemable preferred stock is reported within U.S. corporate and foreign corporate fixed maturity securities. Included within fixed maturity securities are structured securities including residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”) and asset-backed securities (“ABS”) (collectively, “Structured Securities”). The Company held non-income producing fixed maturity securities with an estimated fair value of $4 million and $3 million with unrealized gains (losses) of less than ($1) million and ($2) million at March 31, 2018 and December 31, 2017 , respectively. Maturities of Fixed Maturity Securities The amortized cost and estimated fair value of fixed maturity securities, by contractual maturity date, were as follows at March 31, 2018 : Due in One Year or Less Due After One Year Through Five Years Due After Five Years Through Ten Years Due After Ten Years Structured Securities Total Fixed Maturity Securities (In millions) Amortized cost $ 1,730 $ 8,497 $ 11,642 $ 23,340 $ 13,251 $ 58,460 Estimated fair value $ 1,733 $ 8,734 $ 11,702 $ 26,063 $ 13,328 $ 61,560 Actual maturities may differ from contractual maturities due to the exercise of call or prepayment options. Fixed maturity securities not due at a single maturity date have been presented in the year of final contractual maturity. Structured Securities are shown separately, as they are not due at a single maturity. Continuous Gross Unrealized Losses for Fixed Maturity Securities AFS by Sector The following table presents the estimated fair value and gross unrealized losses of fixed maturity securities AFS in an unrealized loss position, aggregated by sector and by length of time that the securities have been in a continuous unrealized loss position at: March 31, 2018 December 31, 2017 Less than 12 Months Equal to or Greater than 12 Months Less than 12 Months Equal to or Greater than 12 Months Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses (Dollars in millions) Fixed maturity securities: U.S. corporate $ 6,900 $ 171 $ 1,280 $ 105 $ 1,762 $ 21 $ 1,413 $ 68 U.S. government and agency 3,934 92 1,351 127 4,764 36 1,573 80 RMBS 3,194 81 1,164 67 2,308 13 1,292 41 Foreign corporate 1,756 37 467 54 636 8 559 54 State and political subdivision 463 11 102 7 171 3 106 4 CMBS 2,377 39 362 17 603 6 335 10 ABS 394 2 40 1 165 — 75 2 Foreign government 327 8 48 3 152 2 50 1 Total fixed maturity securities $ 19,345 $ 441 $ 4,814 $ 381 $ 10,561 $ 89 $ 5,403 $ 260 Total number of securities in an unrealized loss position 2,105 583 903 619 Evaluation of AFS Securities for OTTI and Evaluating Temporarily Impaired AFS Securities Evaluation and Measurement Methodologies Management considers a wide range of factors about the security issuer and uses its best judgment in evaluating the cause of the decline in the estimated fair value of the security and in assessing the prospects for near-term recovery. Inherent in management’s evaluation of the security are assumptions and estimates about the operations of the issuer and its future earnings potential. Considerations used in the impairment, evaluation process include, but are not limited to: (i) the length of time and the extent to which the estimated fair value has been below amortized cost; (ii) the potential for impairments when the issuer is experiencing significant financial difficulties; (iii) the potential for impairments in an entire industry sector or sub-sector; (iv) the potential for impairments in certain economically depressed geographic locations; (v) the potential for impairments where the issuer, series of issuers or industry has suffered a catastrophic loss or has exhausted natural resources; (vi) whether the Company has the intent to sell or will more likely than not be required to sell a particular security before the decline in estimated fair value below amortized cost recovers; (vii) with respect to Structured Securities, changes in forecasted cash flows after considering the quality of underlying collateral, expected prepayment speeds, current and forecasted loss severity, consideration of the payment terms of the underlying assets backing a particular security, and the payment priority within the tranche structure of the security; (viii) the potential for impairments due to weakening of foreign currencies on non-functional currency denominated fixed maturity securities that are near maturity; and (ix) other subjective factors, including concentrations and information obtained from regulators and rating agencies. Current Period Evaluation Based on the Company’s current evaluation of its AFS securities in an unrealized loss position in accordance with its impairment policy, and the Company’s current intentions and assessments (as applicable to the type of security) about holding, selling and any requirements to sell these securities, the Company concluded that these securities were not other-than-temporarily impaired at March 31, 2018 . Gross unrealized losses on fixed maturity securities increased $473 million during the three months ended March 31, 2018 to $822 million . The increase in gross unrealized losses for the three months ended March 31, 2018 was primarily attributable to increasing longer-term interest rates. At March 31, 2018 , $5 million of the total $822 million of gross unrealized losses were from nine fixed maturity securities with an unrealized loss position of 20% or more of amortized cost for six months or greater. Mortgage Loans Mortgage Loans by Portfolio Segment Mortgage loans are summarized as follows at: March 31, 2018 December 31, 2017 Carrying Value % of Total Carrying Value % of Total (Dollars in millions) Mortgage loans: Commercial $ 7,601 67.8 % $ 7,233 67.9 % Agricultural 2,361 21.1 2,200 20.7 Residential 1,188 10.6 1,138 10.7 Subtotal (1) 11,150 99.5 10,571 99.3 Valuation allowances (2) (49 ) (0.4 ) (46 ) (0.4 ) Subtotal mortgage loans, net 11,101 99.1 10,525 98.9 Commercial mortgage loans held by CSEs - FVO 105 0.9 115 1.1 Total mortgage loans, net $ 11,206 100.0 % $ 10,640 100.0 % __________________ (1) Purchases of mortgage loans from third parties were $86 million and $420 million at March 31, 2018 and December 31, 2017 , respectively, and were primarily comprised of residential mortgage loans. (2) The valuation allowances were primarily from collective evaluation (non-specific loan related). See “— Variable Interest Entities” for discussion of consolidated securitization entities (“CSEs”). Information on commercial, agricultural and residential mortgage loans is presented in the tables below. Information on commercial mortgage loans held by CSEs - FVO is presented in Note 7 . The Company elects the FVO for certain commercial mortgage loans and related long-term debt that are managed on a total return basis. Valuation Allowance Methodology Mortgage loans are considered to be impaired when it is probable that, based upon current information and events, the Company will be unable to collect all amounts due under the loan agreement. Specific valuation allowances are established using the same methodology for all three portfolio segments as the excess carrying value of a loan over either (i) the present value of expected future cash flows discounted at the loan’s original effective interest rate, (ii) the estimated fair value of the loan’s underlying collateral if the loan is in the process of foreclosure or otherwise collateral dependent, or (iii) the loan’s observable market price. A common evaluation framework is used for establishing non-specific valuation allowances for all loan portfolio segments; however, a separate non-specific valuation allowance is calculated and maintained for each loan portfolio segment that is based on inputs unique to each loan portfolio segment. Non-specific valuation allowances are established for pools of loans with similar risk characteristics where a property-specific or market-specific risk has not been identified, but for which the Company expects to incur a credit loss. These evaluations are based upon several loan portfolio segment-specific factors, including the Company’s experience for loan losses, defaults and loss severity, and loss expectations for loans with similar risk characteristics. These evaluations are revised as conditions change and new information becomes available. Credit Quality of Commercial Mortgage Loans The credit quality of commercial mortgage loans was as follows at: Recorded Investment Debt Service Coverage Ratios % of Total Estimated Fair Value % of Total > 1.20x 1.00x - 1.20x < 1.00x Total (Dollars in millions) March 31, 2018 Loan-to-value ratios: Less than 65% $ 6,631 $ 238 $ 33 $ 6,902 90.8 % $ 6,968 91.0 % 65% to 75% 578 — 38 616 8.1 611 8.0 76% to 80% 19 32 32 83 1.1 81 1.0 Total $ 7,228 $ 270 $ 103 $ 7,601 100.0 % $ 7,660 100.0 % December 31, 2017 Loan-to-value ratios: Less than 65% $ 6,167 $ 293 $ 33 $ 6,493 89.7 % $ 6,654 90.0 % 65% to 75% 642 — 14 656 9.1 658 8.9 76% to 80% 42 — 9 51 0.7 50 0.7 Greater than 80% — 9 24 33 0.5 30 0.4 Total $ 6,851 $ 302 $ 80 $ 7,233 100.0 % $ 7,392 100.0 % Credit Quality of Agricultural Mortgage Loans The credit quality of agricultural mortgage loans was as follows at: March 31, 2018 December 31, 2017 Recorded Investment % of Total Recorded Investment % of Total (Dollars in millions) Loan-to-value ratios: Less than 65% $ 2,213 93.7 % $ 2,039 92.7 % 65% to 75% 148 6.3 161 7.3 Total $ 2,361 100.0 % $ 2,200 100.0 % The estimated fair value of agricultural mortgage loans was $2.4 billion and $2.2 billion at March 31, 2018 and December 31, 2017 , respectively. Credit Quality of Residential Mortgage Loans The credit quality of residential mortgage loans was as follows at: March 31, 2018 December 31, 2017 Recorded Investment % of Total Recorded Investment % of Total (Dollars in millions) Performance indicators: Performing $ 1,162 97.8 % $ 1,106 97.2 % Nonperforming 26 2.2 32 2.8 Total $ 1,188 100.0 % $ 1,138 100.0 % The estimated fair value of residential mortgage loans was $1.2 billion at both March 31, 2018 and December 31, 2017 . Past Due, Nonaccrual and Modified Mortgage Loans The Company has a high quality, well performing mortgage loan portfolio, with over 99% of all mortgage loans classified as performing at both March 31, 2018 and December 31, 2017 . The Company defines delinquency consistent with industry practice, when mortgage loans are past due as follows: commercial and residential mortgage loans — 60 days and agricultural mortgage loans — 90 days. The Company had no commercial or agricultural mortgage loans past due and no commercial or agricultural mortgage loans in nonaccrual status at either March 31, 2018 or December 31, 2017 . The recorded investment of residential mortgage loans past due and in nonaccrual status was $26 million and $32 million at March 31, 2018 and December 31, 2017 , respectively. During the three months ended March 31, 2018 and 2017, the Company did not have a significant amount of mortgage loans modified in a troubled debt restructuring. Net Unrealized Investment Gains (Losses) Unrealized investment gains (losses) on fixed maturity and equity securities and the effect on DAC, VOBA, deferred sales inducements (“DSI”) and future policy benefits, that would result from the realization of the unrealized gains (losses), are included in net unrealized investment gains (losses) in AOCI. The components of net unrealized investment gains (losses), included in AOCI, were as follows: March 31, 2018 December 31, 2017 (In millions) Fixed maturity securities $ 3,089 $ 4,722 Fixed maturity securities with noncredit OTTI losses included in AOCI 2 2 Total fixed maturity securities 3,091 4,724 Equity securities — 39 Derivatives 150 231 Other (9 ) (8 ) Subtotal 3,232 4,986 Amounts allocated from: Future policy benefits (1,725 ) (2,370 ) DAC and VOBA related to noncredit OTTI losses recognized in AOCI (8 ) (2 ) DAC, VOBA and DSI (207 ) (260 ) Subtotal (1,940 ) (2,632 ) Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI 3 1 Deferred income tax benefit (expense) (275 ) (495 ) Net unrealized investment gains (losses) $ 1,020 $ 1,860 The changes in net unrealized investment gains (losses) were as follows: Three Months (In millions) Balance, December 31, 2017 $ 1,860 Unrealized investment gains (losses) change due to cumulative effect, net of income tax (1) (15 ) Balance, January 1, 2018 1,845 Fixed maturity securities on which noncredit OTTI losses have been recognized — Unrealized investment gains (losses) during the period (1,739 ) Unrealized investment gains (losses) relating to: Future policy benefits 645 DAC and VOBA related to noncredit OTTI losses recognized in AOCI (6 ) DAC, VOBA and DSI 53 Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI 2 Deferred income tax benefit (expense) 220 Balance, March 31, 2018 $ 1,020 Change in net unrealized investment gains (losses) $ (825 ) __________________ (1) See Note 1 for more information related to the cumulative effect of change in accounting principle. Concentrations of Credit Risk There were no investments in any counterparty that were greater than 10% of the Company’s equity, other than the U.S. government and its agencies, at both March 31, 2018 and December 31, 2017 . Securities Lending Elements of the securities lending program are presented below at: March 31, 2018 December 31, 2017 (In millions) Securities on loan: (1) Amortized cost $ 3,333 $ 3,085 Estimated fair value $ 3,766 $ 3,748 Cash collateral received from counterparties (2) $ 3,777 $ 3,791 Security collateral received from counterparties (3) $ 42 $ 29 Reinvestment portfolio — estimated fair value $ 3,787 $ 3,823 __________________ (1) Included within fixed maturity securities. (2) Included within payables for collateral under securities loaned and other transactions. (3) Security collateral received from counterparties may not be sold or re-pledged, unless the counterparty is in default, and is not reflected on the consolidated financial statements. The cash collateral liability by loaned security type and remaining tenor of the agreements were as follows at: March 31, 2018 December 31, 2017 Remaining Tenor of Securities Lending Agreements Remaining Tenor of Securities Lending Agreements Open (1) 1 Month or Less 1 to 6 Months Total Open (1) 1 Month or Less 1 to 6 Months Total (In millions) U.S. government and agency $ 1,253 $ 1,414 $ 1,110 $ 3,777 $ 1,626 $ 964 $ 1,201 $ 3,791 __________________ (1) The related loaned security could be returned to the Company on the next business day which would require the Company to immediately return the cash collateral. If the Company is required to return significant amounts of cash collateral on short notice and is forced to sell securities to meet the return obligation, it may have difficulty selling such collateral that is invested in securities in a timely manner, be forced to sell securities in a volatile or illiquid market for less than what otherwise would have been realized under normal market conditions, or both. The estimated fair value of the securities on loan related to the cash collateral on open at March 31, 2018 was $1.2 billion , all of which were U.S. government and agency securities which, if put back to the Company, could be immediately sold to satisfy the cash requirement. The reinvestment portfolio acquired with the cash collateral consisted principally of fixed maturity securities (including agency RMBS, U.S. government and agency securities, ABS, U.S. and foreign corporate securities, and non-agency RMBS) with 59% invested in agency RMBS, U.S. government and agency securities, cash equivalents, short-term investments or held in cash at March 31, 2018 . If the securities on loan or the reinvestment portfolio become less liquid, the Company has the liquidity resources of most of its general account available to meet any potential cash demands when securities on loan are put back to the Company. Invested Assets on Deposit, Held in Trust and Pledged as Collateral Invested assets on deposit, held in trust and pledged as collateral are presented below at estimated fair value at: March 31, 2018 December 31, 2017 (In millions) Invested assets on deposit (regulatory deposits) (1) $ 8,085 $ 8,259 Invested assets held in trust (reinsurance agreements) (2) 2,755 2,634 Invested assets pledged as collateral (3) 4,004 3,199 Total invested assets on deposit, held in trust and pledged as collateral $ 14,844 $ 14,092 __________________ (1) The Company has assets, primarily fixed maturity securities, on deposit with governmental authorities relating to certain policyholder liabilities, of which $106 million and $34 million of the assets on deposit balance represents restricted cash at March 31, 2018 and December 31, 2017 , respectively. (2) The Company has assets, primarily fixed maturity securities, held in trust relating to certain reinsurance transactions. $20 million and $42 million of the assets held in trust balance represents restricted cash at March 31, 2018 and December 31, 2017 , respectively. (3) The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Note 4 of the Notes to the Consolidated Financial Statements included in the 2017 Annual Report ) and derivative transactions (see Note 6 ). See “— Securities Lending” for information regarding securities on loan. Variable Interest Entities The Company has invested in legal entities that are VIEs. In certain instances, the Company holds both the power to direct the most significant activities of the entity, as well as an economic interest in the entity and, as such, is deemed to be the primary beneficiary or consolidator of the entity. The determination of the VIE’s primary beneficiary requires an evaluation of the contractual and implied rights and obligations associated with each party’s relationship with or involvement in the entity, an estimate of the entity’s expected losses and expected residual returns and the allocation of such estimates to each party involved in the entity. Consolidated VIEs Creditors or beneficial interest holders of VIEs where the Company is the pr imary beneficiary have no recourse to the general credit of the Company, as the Company’s obligation to the VIEs is limited to the amount of its committed investment. The following table presents the total assets and total liabilities re lating to VIEs for which the Company has concluded that it is the primary beneficiary and which are consolidated at: March 31, 2018 December 31, 2017 (In millions) CSEs: (1) Assets Mortgage loans (commercial mortgage loans) $ 105 $ 115 Accrued investment income 1 1 Total assets $ 106 $ 116 Liabilities Long-term debt $ 8 $ 11 Total liabilities $ 8 $ 11 __________________ (1) The Company consolidates entities that are structured as CMBS. The assets of these entities can only be used to settle their respective liabilities, and under no circumstances is the Company liable for any principal or interest shortfalls should any arise. The Company’s exposure was limited to that of its remaining investment in these entities of $80 million and $86 million at estimated fair value at March 31, 2018 and December 31, 2017 , respectively. Unconsolidated VIEs The carrying amount and maximum exposure to loss relating to VIEs in which the Company holds a significant variable interest but is not the primary beneficiary and which have not been consolidated were as follows at: March 31, 2018 December 31, 2017 Carrying Amount Maximum Exposure to Loss (1) Carrying Amount Maximum Exposure to Loss (1) (In millions) Fixed maturity securities AFS: Structured Securities (2) $ 11,284 $ 11,284 $ 11,136 $ 11,136 U.S. and foreign corporate 423 423 501 501 Other limited partnership interests 1,541 2,729 1,509 2,460 Other investments (3) 83 91 71 79 Total $ 13,331 $ 14,527 $ 13,217 $ 14,176 __________________ (1) The maximum exposure to loss relating to fixed maturity securities AFS is equal to their carrying amounts or the carrying amounts of retained interests. The maximum exposure to loss relating to other limited partnership interests and real estate joint ventures is equal to the carrying amounts plus any unfunded commitments. Such a maximum loss would be expected to occur only upon bankruptcy of the issuer or investee. (2) For these variable interests, the Company’s involvement is limited to that of a passive investor in mortgage-backed or asset-backed securities issued by trusts that do not have substantial equity. (3) Other investments is comprised of real estate joint ventures and other invested assets. As described in Note 10 , the Company makes commitments to fund partnership investments in the normal course of business. Excluding these commitments, the Company did not provide financial or other support to investees designated as VIEs during both the three months ended March 31, 2018 and 2017 . Net Investment Income The components of net investment income were as follows: Three Months 2018 2017 (In millions) Investment income: Fixed maturity securities $ 612 $ 592 Equity securities 2 2 Mortgage loans 117 108 Policy loans 10 12 Real estate joint ventures 14 12 Other limited partnership interests 65 57 Cash, cash equivalents and short-term investments 5 8 Other 7 8 Subtotal 832 799 Less: Investment expenses 42 42 Subtotal, net 790 757 FVO CSEs — interest income — commercial mortgage loans 2 2 Net investment income $ 792 $ 759 See “— Variable Interest Entities” for discussion of CSEs. See “— Related Party Investment Transactions” for discussion of related party investment expenses. Net Investment Gains (Losses) Components of Net Investment Gains (Losses) The components of net investment gains (losses) were as follows: Three Months 2018 2017 (In millions) Total gains (losses) on fixed maturity securities: Fixed maturity securities — net gains (losses) on sales and disposals $ (38 ) $ (37 ) Total gains (losses) on fixed maturity securities (38 ) (37 ) Total gains (losses) on equity securities: Equity securities — Mark to market and net gains (losses) on sales and disposals (1 ) — Total gains (losses) on equity securities (1 ) — Mortgage loans (4 ) (3 ) Real estate joint ventures 42 2 Other limited partnership interests — (10 ) Other — (5 ) Subtotal (1 ) (53 ) FVO CSEs: Commercial mortgage loans (3 ) — Long-term debt — related to commercial mortgage loans — (1 ) Non-investment portfolio gains (losses) — (1 ) Subtotal (3 ) (2 ) Total net investment gains (losses) $ (4 ) $ (55 ) See “— Variable Interest Entities” for discussion of CSEs. See “— Related Party Investment Transactions” for discussion of related party net investment gains (losses) related to transfers of invested assets. Sales or Disposals and Impairments of Fixed Maturity Securities Investment gains and losses on sales of securities are determined on a specific identification basis. Proceeds from sales or disposals of fixed maturity securities and the components of fixed maturity securities net investment gains (losses) were as shown in the table below. Three Months 2018 2017 (In millions) Proceeds $ 2,838 $ 1,960 Gross investment gains $ 3 $ 9 Gross investment losses (41 ) (46 ) Net investment gains (losses) $ (38 ) $ (37 ) Credit Loss Rollforward The table below presents a rollforward of the cumulative credit loss component of OTTI loss recognized in earnings on fixed maturity securities still held for which a portion of the OTTI loss was recognized in OCI: Three Months 2018 2017 (In millions) Balance at January 1, $ — $ 28 Reductions: Sales (maturities, pay downs or prepayments) of securities previously impaired as credit loss OTTI — (18 ) Balance at March 31, $ — $ 10 Related Party Investment Transactions The Company previously transferred invested assets primarily consisting of fixed maturity securities to former affiliates, which were as follows: Three Months 2018 2017 (In millions) Estimated fair value of invested assets transferred to former affiliates $ — $ 292 Amortized cost of invested assets transferred to former affiliates $ — $ 294 Net investment gains (losses) recognized on transfers $ — $ (2 ) At March 31, 2017 , the Company had $1.1 billion of loans due from MetLife, Inc., which were included in other invested assets. These loans were carried at fixed interest rates of 4.21% and 5.10% , payable semiannually, and were due on September 30, 2032 and December 31, 2033 , respectively. In April 2017, these loans were satisfied in a non-cash exchange for $1.1 billion of notes due to MetLife, Inc. See Notes 3 and 10 of the Notes to the Consolidated Financial Statements included in the 2017 Annual Report. In January 2017, Metropolitan Life Insurance Company (“MLIC”), a former affiliate, recaptured risks related to guaranteed minimum benefit guarantees on certain variable annuities being reinsured by the Company. The Company transferred cash and cash equivalents and other invested assets which are included in the table above. See Note 11 for additional information related to these transfers. In March 2017, the Company sold an operating joint venture with a book value of $89 million to MLIC for $286 million . The operating joint venture was accounted for under the equity method and included in other invested assets. This sale resulted in an increase in additional paid-in capital of $202 million in the first quarter of 2017. The Company receives investment administrative services from MetLife Investment Advisors, LLC (“MLIA”), a related party investment manager. The related investment administrative service charges were $23 million and $25 million for the three months ended March 31, 2018 and 2017 , respectively. |
