Metropolitan Life Insurance 10-Q 10 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 10, 2021
Cover [Abstract]
Document Type	10-Q
Entity Registrant Name	Metropolitan Life Insurance Co
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	000-55029
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-5581829
Entity Address, Address Line One	200 Park Avenue,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10166-0188
City Area Code	212
Local Phone Number	578-9500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000937834
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		494,466,664
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $156,669 and $156,423, respectively; allowance for credit loss of $59 and $51, respectively)	$ 176,480	$ 181,340
Mortgage loans (net of allowance for credit loss of $495 and $517, respectively; includes $199 and $199, respectively, relating to variable interest entities and $140 and $165, respectively, under the fair value option)	62,799	66,405
Policy loans	5,885	5,973
Real estate and real estate joint ventures relating to variable interest entities	7,668	7,478
Other limited partnership interests	7,408	5,775
Short-term investments, at estimated fair value	2,132	2,623
Other invested assets (includes $968 and $992, respectively, of leveraged and direct financing leases and $100 and $79, respectively, relating to variable interest entities)	17,468	17,723
Total investments	279,840	287,317
Cash and cash equivalents, principally at estimated fair value (includes $90 and $9, respectively, relating to variable interest entities)	13,911	11,337
Accrued investment income (includes $1 and $1, respectively, relating to variable interest entities)	1,827	1,904
Premiums, reinsurance and other receivables (includes $3 and $3, respectively, relating to variable interest entities)	21,587	21,478
Deferred policy acquisition costs and value of business acquired	2,692	2,649
Current income tax recoverable	219	0
Other assets (includes $2 and $1, respectively, relating to variable interest entities)	4,611	4,276
Separate account assets	127,878	128,646
Total assets	452,565	457,607
Liabilities
Future policy benefits	131,394	133,921
Policyholder account balances	97,214	96,635
Other policy-related balances	7,619	7,430
Policyholder dividends payable	400	397
Policyholder dividend obligation	2,115	2,969
Payables for collateral under securities loaned and other transactions	23,932	23,122
Short-term debt	100	120
Long-term debt (includes $0 and $5, respectively, relating to variable interest entities)	1,626	1,619
Current income tax payable	0	486
Deferred income tax liability	2,029	1,980
Other liabilities (includes $1 and $0, respectively, relating to variable interest entities)	24,598	25,424
Separate account liabilities	127,878	128,646
Total liabilities	418,905	422,749
Contingencies, Commitments and Guarantees (Note 11)
Metropolitan Life Insurance Company stockholder’s equity:
Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 494,466,664 shares issued and outstanding	5	5
Additional paid-in capital	12,462	12,460
Retained earnings	11,125	10,548
Accumulated other comprehensive income (loss) ("AOCI")	9,879	11,662
Total Metropolitan Life Insurance Company stockholder’s equity	33,471	34,675
Noncontrolling interests	189	183
Total equity	33,660	34,858
Total liabilities and equity	$ 452,565	$ 457,607

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Amortized cost of fixed maturity securities available-for-sale	$ 156,669	$ 156,423
Amortized cost of fixed maturity securities valuation allowances	59	51
Mortgage loans valuation allowances	495	517
Residential mortgage loans — FVO	62,799	66,405
Real estate and real estate joint ventures relating to variable interest entities	7,668	7,478
Real Estate Held-for-sale	78	128
Other Invested Assets - Leveraged and Direct Financing Leases	968	992
Other invested assets relating to variable interest entities	17,468	17,723
Cash and cash equivalents relating to variable interest entities	13,911	11,337
Accrued investment income relating to variable interest entities	1,827	1,904
Premiums, reinsurance and other receivables	21,587	21,478
Other assets relating to variable interest entities	4,611	4,276
Liabilities
Other Liabilities	$ 24,598	$ 25,424
Metropolitan Life Insurance Company stockholder’s equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	494,466,664	494,466,664
Common stock, shares outstanding	494,466,664	494,466,664
Residential mortgage loans - FVO
Assets
Residential mortgage loans — FVO	$ 140	$ 165
Real estate and real estate joint ventures relating to variable interest entities	191	169
Variable Interest Entity, Primary Beneficiary
Assets
Residential mortgage loans — FVO	199	199
Real estate and real estate joint ventures relating to variable interest entities	1,150	1,435
Other invested assets relating to variable interest entities	100	79
Cash and cash equivalents relating to variable interest entities	90	9
Accrued investment income relating to variable interest entities	1	1
Premiums, reinsurance and other receivables	3	3
Other assets relating to variable interest entities	2	1
Liabilities
Long-term Debt and Lease Obligation, Including Current Maturities	0	5
Other Liabilities	$ 1	$ 0

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Premiums	$ 6,451	$ 4,721	$ 12,256	$ 9,969
Universal life and investment-type product policy fees	514	479	1,049	1,007
Net investment income	3,034	2,005	6,221	4,649
Other revenues	432	403	857	776
Net investment gains (losses)	342	56	502	(126)
Net derivative gains (losses)	25	(793)	(990)	2,762
Total revenues	10,798	6,871	19,895	19,037
Expenses
Policyholder benefits and claims	7,129	5,423	13,708	11,102
Interest credited to policyholder account balances	512	571	1,023	1,182
Policyholder dividends	200	246	405	494
Other expenses	1,205	1,087	2,391	2,378
Total expenses	9,046	7,327	17,527	15,156
Income (loss) before provision for income tax	1,752	(456)	2,368	3,881
Provision for income tax expense (benefit)	308	(171)	357	619
Net income (loss)	1,444	(285)	2,011	3,262
Less: Net income (loss) attributable to noncontrolling interests	1	0	4	(2)
Net income (loss) attributable to Metropolitan Life Insurance Company	1,443	(285)	2,007	3,264
Comprehensive income (loss)	2,644	2,650	228	7,463
Less: Comprehensive income (loss) attributable to noncontrolling interests, net of income tax	1	0	4	(2)
Comprehensive income (loss) attributable to Metropolitan Life Insurance Company	$ 2,643	$ 2,650	$ 224	$ 7,465

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Metropolitan Life Insurance Company Stockholder’s Equity	Noncontrolling Interests	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings	Cumulative Effect, Period of Adoption, Adjustment [Member]Total Metropolitan Life Insurance Company Stockholder’s Equity
Beginning Balance at Dec. 31, 2019	$ 32,612	$ 5	$ 12,455	$ 9,943	$ 10,025	$ 32,428	$ 184	$ (113)	$ (113)	$ (113)
Capital contributions from MetLife, Inc.	1		1			1
Dividends to MetLife, Inc.	(393)			(393)		(393)
Change in equity of noncontrolling interests	3					0	3
Net income (loss)	3,547			3,549		3,549	(2)
Other comprehensive income (loss), net of income tax	1,266				1,266	1,266
Ending Balance at Mar. 31, 2020	36,923	5	12,456	12,986	11,291	36,738	185
Beginning Balance at Dec. 31, 2019	32,612	5	12,455	9,943	10,025	32,428	184	$ (113)	$ (113)	$ (113)
Net income (loss)	3,262
Ending Balance at Jun. 30, 2020	38,789	5	12,457	11,917	14,226	38,605	184
Beginning Balance at Mar. 31, 2020	36,923	5	12,456	12,986	11,291	36,738	185
Capital contributions from MetLife, Inc.	1		1			1
Dividends to MetLife, Inc.	(784)			(784)		(784)
Change in equity of noncontrolling interests	(1)					0	(1)
Net income (loss)	(285)			(285)		(285)
Other comprehensive income (loss), net of income tax	2,935				2,935	2,935
Ending Balance at Jun. 30, 2020	38,789	5	12,457	11,917	14,226	38,605	184
Beginning Balance at Dec. 31, 2020	34,858	5	12,460	10,548	11,662	34,675	183
Capital contributions from MetLife, Inc.	1		1			1
Dividends to MetLife, Inc.	(1,030)			(1,030)		(1,030)
Net income (loss)	567			564		564	3
Other comprehensive income (loss), net of income tax	(2,983)				(2,983)	(2,983)
Ending Balance at Mar. 31, 2021	31,413	5	12,461	10,082	8,679	31,227	186
Beginning Balance at Dec. 31, 2020	34,858	5	12,460	10,548	11,662	34,675	183
Net income (loss)	2,011
Ending Balance at Jun. 30, 2021	33,660	5	12,462	11,125	9,879	33,471	189
Beginning Balance at Mar. 31, 2021	31,413	5	12,461	10,082	8,679	31,227	186
Capital contributions from MetLife, Inc.	1		1			1
Dividends to MetLife, Inc.	(400)			(400)		(400)
Change in equity of noncontrolling interests	2					0	2
Net income (loss)	1,444			1,443		1,443	1
Other comprehensive income (loss), net of income tax	1,200				1,200	1,200
Ending Balance at Jun. 30, 2021	$ 33,660	$ 5	$ 12,462	$ 11,125	$ 9,879	$ 33,471	$ 189

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Cash Flows [Abstract]
Net cash provided by (used in) operating activities	$ 968	$ 366
Cash flows from investing activities
Sales, maturities and repayments of fixed maturity securities available-for-sale	23,549	23,674
Sales, maturities and repayments of equity securities	244	89
Sales, maturities and repayments of mortgage loans	7,891	4,430
Sales, maturities and repayments of real estate and real estate joint ventures	733	55
Sales, maturities and repayments of other limited partnership interests	241	204
Purchases of fixed maturity securities available-for-sale	(23,399)	(28,143)
Purchases of equity securities	(18)	(34)
Purchases of mortgage loans	(4,269)	(5,643)
Purchases of real estate and real estate joint ventures	(393)	(532)
Purchases of other limited partnership interests	(1,001)	(495)
Cash received in connection with freestanding derivatives	1,214	4,094
Cash paid in connection with freestanding derivatives	(4,386)	(1,270)
Cash received from the redemption of an investment in affiliated preferred stock	315	0
Net change in policy loans	88	57
Net change in short-term investments	435	(1,504)
Net change in other invested assets	184	100
Net change in property, equipment and leasehold improvements	9	6
Other, net	5	15
Net cash provided by (used in) investing activities	1,442	(4,897)
Cash flows from financing activities
Policyholder account balances: Deposits	41,600	41,986
Policyholder account balances: Withdrawals	(40,944)	(38,035)
Net change in payables for collateral under securities loaned and other transactions	810	6,045
Long-term debt issued	0	78
Long-term debt repaid	(15)	(12)
Financing element on certain derivative instruments and other derivative related transactions, net	165	(167)
Dividends paid to MetLife, Inc.	(1,430)	(1,177)
Other, net	(23)	2
Net cash provided by (used in) financing activities	163	8,720
Effect of change in foreign currency exchange rates on cash and cash equivalents balances	1	0
Change in cash and cash equivalents	2,574	4,189
Cash and cash equivalents, beginning of period	11,337	8,927
Cash and cash equivalents, end of period	13,911	13,116
Supplemental disclosures of cash flow information
Net cash paid for Interest	48	50
Net cash paid (received) for Income tax	386	122
Non-cash transactions:
Capital contributions from MetLife, Inc.	2	2
Real estate and real estate joint ventures acquired in satisfaction of debt	171	0
Increase in equity securities due to in-kind distributions received from other limited partnership interests	128	34
Increase in other invested assets in connection with an affiliated reinsurance transaction	822	0
Increase in policyholder account balances associated with funding agreement backed notes issued but not settled	$ 0	$ 750

Business, Basis of Presentation

Business, Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business, Basis of Presentation and Summary of Significant Accounting Policies	1. Business, Basis of Presentation and Summary of Significant Accounting Policies Business Metropolitan Life Insurance Company and its subsidiaries (collectively, “MLIC” or the “Company”) is a provider of insurance, annuities, employee benefits and asset management and is organized into two segments: U.S. and MetLife Holdings. Metropolitan Life Insurance Company is a wholly-owned subsidiary of MetLife, Inc. (MetLife, Inc., together with its subsidiaries and affiliates, “MetLife”). Basis of Presentation The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported on the interim condensed consolidated financial statements. In applying these policies and estimates, management makes subjective and complex judgments that frequently require assumptions about matters that are inherently uncertain, including uncertainties associated with the novel coronavirus COVID-19 pandemic (the “COVID-19 Pandemic”). Many of these policies, estimates and related judgments are common in the insurance and financial services industries; others are specific to the Company’s business and operations. Actual results could differ from these estimates. The accompanying interim condensed consolidated financial statements are unaudited and reflect all adjustments (including normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in conformity with GAAP. Interim results are not necessarily indicative of full year performance. The December 31, 2020 consolidated balance sheet data was derived from audited consolidated financial statements included in Metropolitan Life Insurance Company’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Annual Report”), which include all disclosures required by GAAP. Therefore, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company included in the 2020 Annual Report. Consolidation The accompanying interim condensed consolidated financial statements include the accounts of Metropolitan Life Insurance Company and its subsidiaries, as well as partnerships and joint ventures in which the Company has control, and variable interest entities (“VIEs”) for which the Company is the primary beneficiary. Intercompany accounts and transactions have been eliminated. The Company uses the equity method of accounting or the fair value option (“FVO”) for real estate joint ventures and other limited partnership interests (“investee”) when it has more than a minor ownership interest or more than a minor influence over the investee’s operations. The Company generally recognizes its share of the investee’s earnings in net investment income on a three-month lag in instances where the investee’s financial information is not sufficiently timely or when the investee’s reporting period differs from the Company’s reporting period. Since the Company is a member of a controlled group of affiliated companies, its results may not be indicative of those of a stand-alone entity. Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. The following tables provide a description of new ASUs issued by the FASB and the impact of the adoption on the Company’s interim condensed consolidated financial statements. Adoption of New Accounting Pronouncements The table below describes the impacts of the ASUs recently adopted by the Company. Standard Description Effective Date and Method of Adoption Impact on Financial Statements ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting; as clarified and amended by ASU 2021-01, Reference Rate Reform (Topic 848):Scope The new guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, with certain exceptions. ASU 2021-01 amends the scope of the recent reference rate reform guidance. New optional expedients allow derivative instruments impacted by changes in the interest rate used for margining, discounting, or contract price alignment to qualify for certain optional relief. Effective for contract modifications made between March 12, 2020 and December 31, 2022. The new guidance reduces the operational and financial impacts of contract modifications that replace a reference rate, such as London Interbank Offered Rate (“LIBOR”), affected by reference rate reform. The adoption of the new guidance provides relief from current GAAP and is not expected to have a material impact on the Company’s interim condensed consolidated financial statements. The Company will continue to evaluate the impacts of reference rate reform on contract modifications and hedging relationships through December 31, 2022. ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The new guidance simplifies the accounting for income taxes by removing certain exceptions to the tax accounting guidance and providing clarification to other specific tax accounting guidance to eliminate variations in practice. Specifically, it removes the exceptions related to the a) incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items, b) recognition of a deferred tax liability when foreign investment ownership changes from equity method investment to consolidated subsidiary and vice versa and c) use of interim period tax accounting for year-to-date losses that exceed anticipated losses. The guidance also simplifies the application of the income tax guidance for franchise taxes that are partially based on income and the accounting for tax law changes during interim periods, clarifies the accounting for transactions that result in a step-up in tax basis of goodwill, provides for the option to elect allocation of consolidated income taxes to entities disregarded by taxing authorities for their stand-alone reporting, and requires that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. January 1, 2021. The Company adopted, using a prospective approach. The adoption of the new guidance did not have a material impact on the Company’s interim condensed consolidated financial statements. Future Adoption of New Accounting Pronouncements ASUs not listed below were assessed and either determined to be not applicable or are not expected to have a material impact on the Company’s interim condensed consolidated financial statements or disclosures. ASUs issued but not yet adopted as of June 30, 2021 that are currently being assessed and may or may not have a material impact on the Company’s interim condensed consolidated financial statements or disclosures are summarized in the table below. Standard Description Effective Date and Method of Adoption Impact on Financial Statements ASU 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, as amended by ASU 2019-09, Financial Services—Insurance (Topic 944): Effective Date, as amended by ASU 2020-11 , Financial Services—Insurance (Topic 944): Effective Date and Early Application The new guidance (i) prescribes the discount rate to be used in measuring the liability for future policy benefits for traditional and limited payment long-duration contracts, and requires assumptions for those liability valuations to be updated after contract inception, (ii) requires more market-based product guarantees on certain separate account and other account balance long-duration contracts to be accounted for at fair value, (iii) simplifies the amortization of deferred policy acquisition costs (“DAC”) for virtually all long-duration contracts, and (iv) introduces certain financial statement presentation requirements, as well as significant additional quantitative and qualitative disclosures. The amendments in ASU 2019-09 defer the effective date of ASU 2018-12 to January 1, 2022 for all entities, and the amendments in ASU 2020-11 further defer the effective date of ASU 2018-12 for an additional year to January 1, 2023 for all entities. January 1, 2023, to be applied retrospectively to January 1, 2021 (with early adoption permitted). The implementation efforts of the Company and the evaluation of the impact of the new guidance are in progress. Given the nature and extent of the required changes to a significant portion of the Company’s operations, the adoption of this guidance is expected to have a material impact on its interim condensed consolidated financial statements.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	2. Segment Information The Company is organized into two segments: U.S. and MetLife Holdings. In addition, the Company reports certain of its results of operations in Corporate & Other. U.S. The U.S. segment offers a broad range of protection products and services aimed at serving the financial needs of customers throughout their lives. These products are sold to corporations and their respective employees, other institutions and their respective members, as well as individuals. The U.S. segment is organized into two businesses: Group Benefits and Retirement and Income Solutions (“RIS”). • The Group Benefits business offers products such as term, variable and universal life insurance, dental, group and individual disability, vision and accident & health insurance. • The RIS business offers a broad range of life and annuity-based insurance and investment products, including stable value and pension risk transfer products, institutional income annuities, structured settlements, and capital markets investment products, as well as solutions for funding postretirement benefits and company-, bank- and trust-owned life insurance. MetLife Holdings The MetLife Holdings segment consists of operations relating to products and businesses that the Company no longer actively markets. These include variable, universal, term and whole life insurance, variable, fixed and index-linked annuities, and long-term care insurance. Corporate & Other Corporate & Other contains various start-up, developing and run-off businesses. Also included in Corporate & Other are: the excess capital, as well as certain charges and activities, not allocated to the segments (including enterprise-wide strategic initiative restructuring charges), the Company’s ancillary non-U.S. operations, interest expense related to the majority of the Company’s outstanding debt, expenses associated with certain legal proceedings and income tax audit issues, and the elimination of intersegment amounts (which generally relate to affiliated reinsurance and intersegment loans, bearing interest rates commensurate with related borrowings). Financial Measures and Segment Accounting Policies Adjusted earnings is used by management to evaluate performance and allocate resources. Consistent with GAAP guidance for segment reporting, adjusted earnings is also the Company’s GAAP measure of segment performance and is reported below. Adjusted earnings should not be viewed as a substitute for net income (loss). The Company believes the presentation of adjusted earnings, as the Company measures it for management purposes, enhances the understanding of its performance by highlighting the results of operations and the underlying profitability drivers of the business. Adjusted earnings is defined as adjusted revenues less adjusted expenses, net of income tax. The financial measures of adjusted revenues and adjusted expenses focus on the Company’s primary businesses principally by excluding the impact of market volatility, which could distort trends, and revenues and costs related to non-core products and certain entities required to be consolidated under GAAP. Also, these measures exclude results of discontinued operations under GAAP and other businesses that have been or will be sold or exited by MLIC but do not meet the discontinued operations criteria under GAAP and are referred to as divested businesses. Divested businesses also include the net impact of transactions with exited businesses that have been eliminated in consolidation under GAAP and costs relating to businesses that have been or will be sold or exited by MLIC that do not meet the criteria to be included in results of discontinued operations under GAAP. Adjusted revenues also excludes net investment gains (losses) and net derivative gains (losses). The following additional adjustments are made to revenues, in the line items indicated, in calculating adjusted revenues: • Universal life and investment-type product policy fees excludes the amortization of unearned revenue related to net investment gains (losses) and net derivative gains (losses) and certain variable annuity guaranteed minimum income benefits (“GMIBs”) fees (“GMIB fees”); and • Net investment income: (i) includes adjustments for earned income on derivatives and amortization of premium on derivatives that are hedges of investments or that are used to replicate certain investments, but do not qualify for hedge accounting treatment, (ii) excludes post-tax adjusted earnings adjustments relating to insurance joint ventures accounted for under the equity method, (iii) excludes certain amounts related to securitization entities that are VIEs consolidated under GAAP and (iv) includes distributions of profits from certain other limited partnership interests that were previously accounted for under the cost method, but are now accounted for at estimated fair value, where the change in estimated fair value is recognized in net investment gains (losses) under GAAP. The following additional adjustments are made to expenses, in the line items indicated, in calculating adjusted expenses: • Policyholder benefits and claims and policyholder dividends excludes: (i) amortization of basis adjustments associated with de-designated fair value hedges of future policy benefits, (ii) changes in the policyholder dividend obligation related to net investment gains (losses) and net derivative gains (losses), (iii) amounts associated with periodic crediting rate adjustments based on the total return of a contractually referenced pool of assets and other pass-through adjustments, (iv) benefits and hedging costs related to GMIBs (“GMIB costs”) and (v) market value adjustments associated with surrenders or terminations of contracts (“Market value adjustments”); • Interest credited to policyholder account balances includes adjustments for earned income on derivatives and amortization of premium on derivatives that are hedges of policyholder account balances but do not qualify for hedge accounting treatment; • Amortization of DAC and value of business acquired (“VOBA”) excludes amounts related to: (i) net investment gains (losses) and net derivative gains (losses), (ii) GMIB fees and GMIB costs and (iii) Market value adjustments; • Interest expense on debt excludes certain amounts related to securitization entities that are VIEs consolidated under GAAP; and • Other expenses excludes: (i) noncontrolling interests, (ii) acquisition, integration and other costs, and (iii) goodwill impairments. The tax impact of the adjustments mentioned above are calculated net of the U.S. or foreign statutory tax rate, which could differ from the Company’s effective tax rate. Additionally, the provision for income tax (expense) benefit also includes the impact related to the timing of certain tax credits, as well as certain tax reforms. Set forth in the tables below is certain financial information with respect to the Company’s segments, as well as Corporate & Other, for the three months and six months ended June 30, 2021 and 2020. The segment accounting policies are the same as those used to prepare the Company’s interim condensed consolidated financial statements, except for adjusted earnings adjustments as defined above. In addition, segment accounting policies include the method of capital allocation described below. Economic capital is an internally developed risk capital model, the purpose of which is to measure the risk in the business and to provide a basis upon which capital is deployed. The economic capital model accounts for the unique and specific nature of the risks inherent in MetLife’s and the Company’s businesses. MetLife’s economic capital model, coupled with considerations of local capital requirements, aligns segment allocated equity with emerging standards and consistent risk principles. The model applies statistics-based risk evaluation principles to the material risks to which the Company is exposed. These consistent risk principles include calibrating required economic capital shock factors to a specific confidence level and time horizon while applying an industry standard method for the inclusion of diversification benefits among risk types. MetLife’s management is responsible for the ongoing production and enhancement of the economic capital model and reviews its approach periodically to ensure that it remains consistent with emerging industry practice standards. Segment net investment income is credited or charged based on the level of allocated equity; however, changes in allocated equity do not impact the Company’s consolidated net investment income, net income (loss) or adjusted earnings. Net investment income is based upon the actual results of each segment’s specifically identifiable investment portfolios adjusted for allocated equity. Other costs are allocated to each of the segments based upon: (i) a review of the nature of such costs; (ii) time studies analyzing the amount of employee compensation costs incurred by each segment; and (iii) cost estimates included in the Company’s product pricing. Three Months Ended June 30, 2021 U.S. MetLife Corporate Total Adjustments Total (In millions) Revenues Premiums $ 5,760 $ 691 $ — $ 6,451 $ — $ 6,451 Universal life and investment-type product policy fees 274 221 — 495 19 514 Net investment income 1,804 1,400 (28) 3,176 (142) 3,034 Other revenues 222 66 144 432 — 432 Net investment gains (losses) — — — — 342 342 Net derivative gains (losses) — — — — 25 25 Total revenues 8,060 2,378 116 10,554 244 10,798 Expenses Policyholder benefits and claims and policyholder dividends 5,917 1,319 — 7,236 93 7,329 Interest credited to policyholder account balances 346 167 — 513 (1) 512 Capitalization of DAC (10) — — (10) — (10) Amortization of DAC and VOBA 6 38 — 44 (12) 32 Interest expense on debt 1 1 22 24 — 24 Other expenses 813 210 141 1,164 (5) 1,159 Total expenses 7,073 1,735 163 8,971 75 9,046 Provision for income tax expense (benefit) 205 130 (74) 261 47 308 Adjusted earnings $ 782 $ 513 $ 27 1,322 Adjustments to: Total revenues 244 Total expenses (75) Provision for income tax (expense) benefit (47) Net income (loss) $ 1,444 $ 1,444 Three Months Ended June 30, 2020 U.S. MetLife Corporate & Other Total Adjustments Total Consolidated (In millions) Revenues Premiums $ 3,981 $ 740 $ — $ 4,721 $ — $ 4,721 Universal life and investment-type product policy fees 260 198 — 458 21 479 Net investment income 1,339 857 (55) 2,141 (136) 2,005 Other revenues 215 68 120 403 — 403 Net investment gains (losses) — — — — 56 56 Net derivative gains (losses) — — — — (793) (793) Total revenues 5,795 1,863 65 7,723 (852) 6,871 Expenses Policyholder benefits and claims and policyholder dividends 4,106 1,455 — 5,561 108 5,669 Interest credited to policyholder account balances 401 173 — 574 (3) 571 Capitalization of DAC (18) 5 — (13) — (13) Amortization of DAC and VOBA 13 (6) — 7 (23) (16) Interest expense on debt 2 1 23 26 — 26 Other expenses 742 208 137 1,087 3 1,090 Total expenses 5,246 1,836 160 7,242 85 7,327 Provision for income tax expense (benefit) 117 1 (92) 26 (197) (171) Adjusted earnings $ 432 $ 26 $ (3) 455 Adjustments to: Total revenues (852) Total expenses (85) Provision for income tax (expense) benefit 197 Net income (loss) $ (285) $ (285) Six Months Ended June 30, 2021 U.S. MetLife Corporate & Other Total Adjustments Total Consolidated (In millions) Revenues Premiums $ 10,897 $ 1,359 $ — $ 12,256 $ — $ 12,256 Universal life and investment-type product policy fees 561 449 — 1,010 39 1,049 Net investment income 3,651 2,891 (29) 6,513 (292) 6,221 Other revenues 446 124 287 857 — 857 Net investment gains (losses) — — — — 502 502 Net derivative gains (losses) — — — — (990) (990) Total revenues 15,555 4,823 258 20,636 (741) 19,895 Expenses Policyholder benefits and claims and policyholder dividends 11,368 2,583 — 13,951 162 14,113 Interest credited to policyholder account balances 691 334 — 1,025 (2) 1,023 Capitalization of DAC (29) — — (29) — (29) Amortization of DAC and VOBA 22 69 — 91 (19) 72 Interest expense on debt 3 2 43 48 — 48 Other expenses 1,609 431 268 2,308 (8) 2,300 Total expenses 13,664 3,419 311 17,394 133 17,527 Provision for income tax expense (benefit) 393 285 (149) 529 (172) 357 Adjusted earnings $ 1,498 $ 1,119 $ 96 2,713 Adjustments to: Total revenues (741) Total expenses (133) Provision for income tax (expense) benefit 172 Net income (loss) $ 2,011 $ 2,011 Six Months Ended June 30, 2020 U.S. MetLife Corporate & Other Total Adjustments Total Consolidated (In millions) Revenues Premiums $ 8,491 $ 1,478 $ — $ 9,969 $ — $ 9,969 Universal life and investment-type product policy fees 522 442 — 964 43 1,007 Net investment income 2,973 2,023 (125) 4,871 (222) 4,649 Other revenues 429 94 253 776 — 776 Net investment gains (losses) — — — — (126) (126) Net derivative gains (losses) — — — — 2,762 2,762 Total revenues 12,415 4,037 128 16,580 2,457 19,037 Expenses Policyholder benefits and claims and policyholder dividends 8,667 2,852 — 11,519 77 11,596 Interest credited to policyholder account balances 843 346 — 1,189 (7) 1,182 Capitalization of DAC (32) 9 — (23) — (23) Amortization of DAC and VOBA 27 73 — 100 (13) 87 Interest expense on debt 4 3 44 51 — 51 Other expenses 1,536 408 315 2,259 4 2,263 Total expenses 11,045 3,691 359 15,095 61 15,156 Provision for income tax expense (benefit) 292 63 (239) 116 503 619 Adjusted earnings $ 1,078 $ 283 $ 8 1,369 Adjustments to: Total revenues 2,457 Total expenses (61) Provision for income tax (expense) benefit (503) Net income (loss) $ 3,262 $ 3,262 The following table presents total assets with respect to the Company’s segments, as well as Corporate & Other, at: June 30, 2021 December 31, 2020 (In millions) U.S. $ 260,801 $ 262,478 MetLife Holdings 163,479 164,956 Corporate & Other 28,285 30,173 Total $ 452,565 $ 457,607

Insurance

Insurance	6 Months Ended
	Jun. 30, 2021
Insurance [Abstract]
Insurance	3. Insurance Guarantees As discussed in Notes 1 and 3 of the Notes to the Consolidated Financial Statements included in the 2020 Annual Report, the Company issues directly and assumes through reinsurance variable annuity products with guaranteed minimum benefits. Guaranteed minimum accumulation benefits (“GMABs”), the non-life contingent portion of guaranteed minimum withdrawal benefits (“GMWBs”) and certain non-life contingent portions of GMIBs are accounted for as embedded derivatives in policyholder account balances and are further discussed in Note 6. The Company also issues other annuity contracts that apply a lower rate on funds deposited if the contractholder elects to surrender the contract for cash and a higher rate if the contractholder elects to annuitize. These guarantees include benefits that are payable in the event of death, maturity or at annuitization. Certain other annuity contracts contain guaranteed annuitization benefits that may be above what would be provided by the current account value of the contract. Additionally, the Company issues universal and variable life contracts where the Company contractually guarantees to the contractholder a secondary guarantee or a guaranteed paid-up benefit. Information regarding the Company’s guarantee exposure, which includes direct business, but excludes offsets from hedging or reinsurance, if any, was as follows at: June 30, 2021 December 31, 2020 In the Event of Death At Annuitization In the Event of Death At Annuitization (Dollars in millions) Annuity Contracts: Variable Annuity Guarantees: Total account value (1), (2) $ 50,525 $ 21,100 $ 50,047 $ 21,229 Separate account value (1) $ 41,273 $ 20,269 $ 40,583 $ 20,368 Net amount at risk $ 1,108 (3) $ 406 (4) $ 1,178 (3) $ 552 (4) Average attained age of contractholders 69 years 68 years 68 years 67 years Other Annuity Guarantees: Total account value (1), (2) N/A $ 138 N/A $ 142 Net amount at risk N/A $ 72 (5) N/A $ 74 (5) Average attained age of contractholders N/A 55 years N/A 55 years June 30, 2021 December 31, 2020 Secondary Guarantees Paid-Up Guarantees Secondary Guarantees Paid-Up Guarantees (Dollars in millions) Universal and Variable Life Contracts: Total account value (1), (2) $ 5,912 $ 842 $ 5,607 $ 861 Net amount at risk (6) $ 38,150 $ 5,350 $ 39,134 $ 5,525 Average attained age of policyholders 58 years 65 years 58 years 65 years __________________ (1) The Company’s annuity and life contracts with guarantees may offer more than one type of guarantee in each contract. Therefore, the amounts listed above may not be mutually exclusive. (2) Includes the contractholder’s investments in the general account and separate account, if applicable. (3) Defined as the death benefit less the total account value, as of the balance sheet date. It represents the amount of the claim that the Company would incur if death claims were filed on all contracts on the balance sheet date and includes any additional contractual claims associated with riders purchased to assist with covering income taxes payable upon death. (4) Defined as the amount (if any) that would be required to be added to the total account value to purchase a lifetime income stream, based on current annuity rates, equal to the minimum amount provided under the guaranteed benefit. This amount represents the Company’s potential economic exposure to such guarantees in the event all contractholders were to annuitize on the balance sheet date, even though the contracts contain terms that allow annuitization of the guaranteed amount only after the 10th anniversary of the contract, which not all contractholders have achieved. (5) Defined as either the excess of the upper tier, adjusted for a profit margin, less the lower tier, as of the balance sheet date or the amount (if any) that would be required to be added to the total account value to purchase a lifetime income stream, based on current annuity rates, equal to the minimum amount provided under the guaranteed benefit. These amounts represent the Company’s potential economic exposure to such guarantees in the event all contractholders were to annuitize on the balance sheet date. (6) Defined as the guarantee amount less the account value, as of the balance sheet date. It represents the amount of the claim that the Company would incur if death claims were filed on all contracts on the balance sheet date. Liabilities for Unpaid Claims and Claim Expenses Rollforward of Claims and Claim Adjustment Expenses Information regarding the liabilities for unpaid claims and claim adjustment expenses was as follows: Six Months 2021 2020 (In millions) Balance, beginning of period $ 13,523 $ 13,140 Less: Reinsurance recoverables 1,639 1,525 Net balance, beginning of period 11,884 11,615 Incurred related to: Current period 9,917 9,103 Prior periods (1) 436 (69) Total incurred 10,353 9,034 Paid related to: Current period (6,044) (5,588) Prior periods (4,135) (3,277) Total paid (10,179) (8,865) Net balance, end of period 12,058 11,784 Add: Reinsurance recoverables 2,078 1,704 Balance, end of period (included in future policy benefits and other policy-related balances) $ 14,136 $ 13,488 __________________ (1) For the six months ended June 30, 2021, incurred claim activity and claim adjustment expenses associated with prior periods increased due to unfavorable claims experience reported in the current period. For the six months ended June 30, 2020, incurred claim activity and claim adjustment expenses associated with prior periods decreased due to favorable claims experience reported in the current period.

Closed Block

Closed Block	6 Months Ended
	Jun. 30, 2021
Closed Block Disclosure [Abstract]
Closed Block	4. Closed Block On April 7, 2000 (the “Demutualization Date”), Metropolitan Life Insurance Company converted from a mutual life insurance company to a stock life insurance company and became a wholly-owned subsidiary of MetLife, Inc. The conversion was pursuant to an order by the New York Superintendent of Insurance approving Metropolitan Life Insurance Company’s plan of reorganization, as amended (the “Plan of Reorganization”). On the Demutualization Date, Metropolitan Life Insurance Company established a closed block for the benefit of holders of certain individual life insurance policies of Metropolitan Life Insurance Company. Experience within the closed block, in particular mortality and investment yields, as well as realized and unrealized gains and losses, directly impact the policyholder dividend obligation. Amortization of the closed block DAC, which resides outside of the closed block, is based upon cumulative actual and expected earnings within the closed block. Accordingly, the Company’s net income continues to be sensitive to the actual performance of the closed block. Closed block assets, liabilities, revenues and expenses are combined on a line-by-line basis with the assets, liabilities, revenues and expenses outside the closed block based on the nature of the particular item. Information regarding the closed block liabilities and assets designated to the closed block was as follows at: June 30, 2021 December 31, 2020 (In millions) Closed Block Liabilities Future policy benefits $ 38,373 $ 38,758 Other policy-related balances 271 321 Policyholder dividends payable 340 337 Policyholder dividend obligation 2,115 2,969 Deferred income tax liability 161 130 Other liabilities 276 172 Total closed block liabilities 41,536 42,687 Assets Designated to the Closed Block Investments: Fixed maturity securities available-for-sale, at estimated fair value 26,320 27,186 Mortgage loans 6,447 6,807 Policy loans 4,272 4,355 Real estate and real estate joint ventures 551 559 Other invested assets 506 492 Total investments 38,096 39,399 Cash and cash equivalents 199 — Accrued investment income 386 402 Premiums, reinsurance and other receivables 52 50 Current income tax recoverable 46 28 Total assets designated to the closed block 38,779 39,879 Excess of closed block liabilities over assets designated to the closed block 2,757 2,808 AOCI: Unrealized investment gains (losses), net of income tax 2,911 3,524 Unrealized gains (losses) on derivatives, net of income tax 47 23 Allocated to policyholder dividend obligation, net of income tax (1,671) (2,346) Total amounts included in AOCI 1,287 1,201 Maximum future earnings to be recognized from closed block assets and liabilities $ 4,044 $ 4,009 Information regarding the closed block policyholder dividend obligation was as follows: Six Months Year (In millions) Balance, beginning of period $ 2,969 $ 2,020 Change in unrealized investment and derivative gains (losses) (854) 949 Balance, end of period $ 2,115 $ 2,969 Information regarding the closed block revenues and expenses was as follows: Three Months Six Months 2021 2020 2021 2020 (In millions) Revenues Premiums $ 325 $ 371 $ 645 $ 738 Net investment income 382 371 775 778 Net investment gains (losses) (11) 10 (5) (9) Net derivative gains (losses) 6 (3) 7 23 Total revenues 702 749 1,422 1,530 Expenses Policyholder benefits and claims 520 589 1,066 1,139 Policyholder dividends 173 217 351 436 Other expenses 24 25 49 52 Total expenses 717 831 1,466 1,627 Revenues, net of expenses before provision for income tax expense (benefit) (15) (82) (44) (97) Provision for income tax expense (benefit) (3) (17) (9) (20) Revenues, net of expenses and provision for income tax expense (benefit) $ (12) $ (65) $ (35) $ (77) Metropolitan Life Insurance Company charges the closed block with federal income taxes, state and local premium taxes and other state or local taxes, as well as investment management expenses relating to the closed block as provided in the Plan of Reorganization. Metropolitan Life Insurance Company also charges the closed block for expenses of maintaining the policies included in the closed block.

Investments

Investments	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	5. Investments Fixed Maturity Securities Available-for-Sale Fixed Maturity Securities Available-for-Sale by Sector The following table presents the fixed maturity securities available-for-sale (“AFS”) by sector. U.S. corporate and foreign corporate sectors include redeemable preferred stock. Residential mortgage-backed securities (“RMBS”) includes agency, prime, alternative and sub-prime mortgage-backed securities. Asset-backed securities (“ABS”) includes securities collateralized by corporate loans and consumer loans. Municipals includes taxable and tax-exempt revenue bonds and, to a much lesser extent, general obligations of states, municipalities and political subdivisions. Commercial mortgage-backed securities (“CMBS”) primarily includes securities collateralized by multiple commercial mortgage loans. RMBS, ABS and CMBS are, collectively, “Structured Products.” June 30, 2021 December 31, 2020 Amortized Gross Unrealized Estimated Amortized Gross Unrealized Estimated Sector Allowance for Gains Losses Allowance for Gains Losses (In millions) U.S. corporate $ 50,805 $ (39) $ 8,023 $ 137 $ 58,652 $ 50,989 $ (43) $ 9,618 $ 155 $ 60,409 Foreign corporate 27,508 (14) 3,423 246 30,671 28,093 (8) 4,478 284 32,279 U.S. government and agency 27,224 — 4,460 104 31,580 24,620 — 6,178 27 30,771 RMBS 21,861 — 1,452 85 23,228 22,552 — 1,706 32 24,226 ABS 11,750 — 160 17 11,893 12,456 — 169 50 12,575 Municipals 6,862 — 1,894 4 8,752 6,888 — 2,096 1 8,983 CMBS 6,402 (6) 337 25 6,708 6,503 — 381 55 6,829 Foreign government 4,257 — 790 51 4,996 4,322 — 978 32 5,268 Total fixed maturity securities AFS $ 156,669 $ (59) $ 20,539 $ 669 $ 176,480 $ 156,423 $ (51) $ 25,604 $ 636 $ 181,340 Maturities of Fixed Maturity Securities AFS The amortized cost, net of allowance for credit loss (“ACL”), and estimated fair value of fixed maturity securities AFS, by contractual maturity date, were as follows at June 30, 2021: Due in One Due After Due After Due After Structured Total Fixed (In millions) Amortized cost, net of ACL $ 6,251 $ 26,239 $ 27,280 $ 56,833 $ 40,007 $ 156,610 Estimated fair value $ 6,272 $ 27,461 $ 30,775 $ 70,143 $ 41,829 $ 176,480 Actual maturities may differ from contractual maturities due to the exercise of call or prepayment options. Fixed maturity securities AFS not due at a single maturity date have been presented in the year of final contractual maturity. Structured Products 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 without an ACL by sector and aggregated by length of time that the securities have been in a continuous unrealized loss position. June 30, 2021 December 31, 2020 Less than 12 Months Equal to or Greater Less than 12 Months Equal to or Greater Sector & Credit Quality Estimated Gross Estimated Gross Estimated Gross Estimated Gross (Dollars in millions) U.S. corporate $ 2,548 $ 71 $ 807 $ 61 $ 2,351 $ 112 $ 230 $ 36 Foreign corporate 2,338 147 623 99 2,431 225 34 59 U.S. government and agency 5,963 104 — — 1,686 27 — — RMBS 3,967 69 405 16 1,119 20 128 12 ABS 2,153 5 860 12 2,561 18 2,233 32 Municipals 175 4 3 — 51 1 — — CMBS 476 8 418 17 1,110 41 306 14 Foreign government 281 15 121 35 110 6 115 27 Total fixed maturity securities AFS $ 17,901 $ 423 $ 3,237 $ 240 $ 11,419 $ 450 $ 3,046 $ 180 Investment grade $ 16,396 $ 377 $ 2,233 $ 153 $ 9,012 $ 297 $ 2,841 $ 158 Below investment grade 1,505 46 1,004 87 2,407 153 205 22 Total fixed maturity securities AFS $ 17,901 $ 423 $ 3,237 $ 240 $ 11,419 $ 450 $ 3,046 $ 180 Total number of securities in an 1,209 431 984 385 Evaluation of Fixed Maturity Securities AFS for Credit Loss 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 credit loss evaluation process include, but are not limited to: (i) the extent to which the estimated fair value has been below amortized cost, (ii) adverse conditions specifically related to a security, an industry sector or sub-sector, or an economically depressed geographic area, adverse change in the financial condition of the issuer of the security, changes in technology, discontinuance of a segment of the business that may affect future earnings, and changes in the quality of credit enhancement, (iii) payment structure of the security and likelihood of the issuer being able to make payments, (iv) failure of the issuer to make scheduled interest and principal payments, (v) whether the issuer, or series of issuers or an 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 Products, changes in forecasted cash flows after considering the changes in the financial condition of the underlying loan obligors and 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) changes in the rating of the security by a rating agency, and (ix) other subjective factors, including concentrations and information obtained from regulators. The methodology and significant inputs used to determine the amount of credit loss are as follows: • The Company calculates the recovery value by performing a discounted cash flow analysis based on the present value of future cash flows. The discount rate is generally the effective interest rate of the security at the time of purchase for fixed-rate securities and the spot rate at the date of evaluation of credit loss for floating-rate securities. • When determining collectability and the period over which value is expected to recover, the Company applies considerations utilized in its overall credit loss evaluation process which incorporates information regarding the specific security, fundamentals of the industry and geographic area in which the security issuer operates, and overall macroeconomic conditions. Projected future cash flows are estimated using assumptions derived from management’s single best estimate, the most likely outcome in a range of possible outcomes, after giving consideration to a variety of variables that include, but are not limited to: payment terms of the security; the likelihood that the issuer can service the interest and principal payments; the quality and amount of any credit enhancements; the security’s position within the capital structure of the issuer; possible corporate restructurings or asset sales by the issuer; any private and public sector programs to restructure foreign government securities and municipals; and changes to the rating of the security or the issuer by rating agencies. • Additional considerations are made when assessing the unique features that apply to certain Structured Products including, but not limited to: the quality of underlying collateral, historical performance of the underlying loan obligors, historical rent and vacancy levels, changes in the financial condition of the underlying loan obligors, expected prepayment speeds, current and forecasted loss severity, consideration of the payment terms of the underlying loans or assets backing a particular security, changes in the quality of credit enhancement and the payment priority within the tranche structure of the security. With respect to securities that have attributes of debt and equity (“perpetual hybrid securities”), consideration is given in the credit loss analysis as to whether there has been any deterioration in the credit of the issuer and the likelihood of recovery in value of the securities that are in a severe unrealized loss position. Consideration is also given as to whether any perpetual hybrid securities with an unrealized loss, regardless of credit rating, have deferred any dividend payments. In periods subsequent to the recognition of an initial ACL on a security, the Company reassesses credit loss quarterly. Subsequent increases or decreases in the expected cash flow from the security result in corresponding decreases or increases in the ACL which are recorded within net investment gains (losses); however, the previously recorded ACL is not reduced to an amount below zero. Full or partial write-offs are deducted from the ACL in the period the security, or a portion thereof, is considered uncollectible. Recoveries of amounts previously written off are recorded to the ACL in the period received. When the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost, any ACL is written off and the amortized cost is written down to estimated fair value through a charge within net investment gains (losses), which becomes the new amortized cost of the security. Evaluation of Fixed Maturity Securities AFS in an Unrealized Loss Position Gross unrealized losses on securities without an ACL increased $33 million for the six months ended June 30, 2021 to $663 million primarily due to increases in interest rates, partially offset by narrowing credit spreads. Gross unrealized losses on securities without an ACL that have been in a continuous gross unrealized loss position for 12 months or greater were $240 million at June 30, 2021, or 36% of the total gross unrealized losses on securities without an ACL. Investment Grade Fixed Maturity Securities AFS Of the $240 million of gross unrealized losses on securities without an ACL that have been in a continuous gross unrealized loss position for 12 months or greater, $153 million, or 64%, were related to 313 investment grade securities. Unrealized losses on investment grade securities are principally related to widening credit spreads since purchase and, with respect to fixed-rate securities, rising interest rates since purchase. Below Investment Grade Fixed Maturity Securities AFS Of the $240 million of gross unrealized losses on securities without an ACL that have been in a continuous gross unrealized loss position for 12 months or greater, $87 million, or 36%, were related to 118 below investment grade securities. Unrealized losses on below investment grade securities are principally related to U.S. and foreign corporate securities (primarily industrial and consumer) and CMBS and are the result of significantly wider credit spreads resulting from higher risk premiums since purchase, largely due to economic and market uncertainty, as well as with respect to fixed-rate securities, rising interest rates since purchase. Management evaluates U.S. corporate and foreign corporate securities based on factors such as expected cash flows, financial condition and near-term and long-term prospects of the issuers. Management evaluates CMBS based on actual and projected cash flows after considering the quality of underlying collateral, credit enhancements, expected prepayment speeds, current and forecasted loss severity, the payment terms of the underlying assets backing a particular security and the payment priority within the tranche structure of the security. Current Period Evaluation At June 30, 2021, with respect to securities in an unrealized loss position without an ACL, the Company did not intend to sell these securities, and it was not more likely than not that the Company would be required to sell these securities before the anticipated recovery of the remaining amortized cost. Based on the Company’s current evaluation of its securities in an unrealized loss position without an ACL, the Company concluded that these securities had not incurred a credit loss and should not have an ACL at June 30, 2021. Future provisions for credit loss will depend primarily on economic fundamentals, issuer performance (including changes in the present value of future cash flows expected to be collected), changes in credit ratings and collateral valuation. Mortgage Loans Mortgage Loans by Portfolio Segment Mortgage loans are summarized as follows at: June 30, 2021 December 31, 2020 Portfolio Segment Carrying % of Carrying % of (Dollars in millions) Commercial $ 36,828 58.7 % $ 38,528 58.0 % Agricultural 15,827 25.2 16,426 24.7 Residential 10,499 16.7 11,803 17.8 Total amortized cost 63,154 100.6 66,757 100.5 Allowance for credit loss (495) (0.8) (517) (0.8) Subtotal mortgage loans, net 62,659 99.8 66,240 99.7 Residential — FVO 140 0.2 165 0.3 Total mortgage loans, net $ 62,799 100.0 % $ 66,405 100.0 % The Company elects the FVO for certain residential mortgage loans that are managed on a total return basis. See Note 7 for further information. The amount of net discounts, included within total amortized cost, primarily attributable to residential mortgage loans was $817 million and $924 million at June 30, 2021 and December 31, 2020, respectively. The accrued interest income excluded from total amortized cost for commercial, agricultural and residential mortgage loans at June 30, 2021 and December 31, 2020 was $152 million and $164 million; $137 million and $158 million; and $91 million and $101 million, respectively. Purchases of mortgage loans, consisting primarily of residential mortgage loans, were $461 million and $838 million for the three months and six months ended June 30, 2021, respectively, and $134 million and $1.2 billion for the three months and six months ended June 30, 2020, respectively. See “— Related Party Investment Transactions” for information regarding transfers from affiliates. Allowance for Credit Loss Rollforward by Portfolio Segment The changes in the ACL, by portfolio segment, were as follows: Six Months Ended June 30, 2021 2020 Commercial Agricultural Residential Total Commercial Agricultural Residential Total (In millions) Balance, beginning of period $ 199 $ 97 $ 221 $ 517 $ 186 $ 49 $ 54 $ 289 Provision (release) 17 (7) (20) (10) 36 5 59 100 Adoption of credit loss guidance — — — — (87) 32 154 99 Initial credit losses on PCD loans (1) — — 2 2 — — 16 16 Charge-offs, net of recoveries — (13) (1) (14) — (2) (5) (7) Balance, end of period $ 216 $ 77 $ 202 $ 495 $ 135 $ 84 $ 278 $ 497 __________________ (1) Represents the initial credit losses on purchased mortgage loans accounted for as purchased financial assets with credit deterioration (“PCD”). Allowance for Credit Loss Methodology The Company records an allowance for expected lifetime credit loss in an amount that represents the portion of the amortized cost basis of mortgage loans that the Company does not expect to collect, resulting in mortgage loans being presented at the net amount expected to be collected. In determining the Company’s ACL, management: (i) pools mortgage loans that share similar risk characteristics, (ii) considers expected lifetime credit loss over the contractual term of its mortgage loans adjusted for expected prepayments and any extensions, and (iii) considers past events and current and forecasted economic conditions. Each of the Company’s commercial, agricultural and residential mortgage loan portfolio segments are evaluated separately. The ACL is calculated for each mortgage loan portfolio segment based on inputs unique to each loan portfolio segment. On a quarterly basis, mortgage loans within a portfolio segment that share similar risk characteristics, such as internal risk ratings or consumer credit scores, are pooled for calculation of ACL. On an ongoing basis, mortgage loans with dissimilar risk characteristics (i.e., loans with significant declines in credit quality), collateral dependent mortgage loans (i.e., when the borrower is experiencing financial difficulty, including when foreclosure is reasonably possible or probable) and reasonably expected troubled debt restructurings (“TDRs”) (i.e., the Company grants concessions to borrower that is experiencing financial difficulties) are evaluated individually for credit loss. The ACL for loans evaluated individually are established using the same methodologies for all three portfolio segments. For example, the ACL for a collateral dependent loan is established as the excess of amortized cost over the estimated fair value of the loan’s underlying collateral, less selling cost when foreclosure is probable. Accordingly, the change in the estimated fair value of collateral dependent loans, which are evaluated individually for credit loss, is recorded as a change in the ACL which is recorded on a quarterly basis as a charge or credit to earnings in net investment gains (losses). Commercial and Agricultural Mortgage Loan Portfolio Segments Commercial and agricultural mortgage loan ACL are calculated in a similar manner. Within each loan portfolio segment, commercial and agricultural, loans are pooled by internal risk rating. Estimated lifetime loss rates, which vary by internal risk rating, are applied to the amortized cost of each loan, excluding accrued investment income, on a quarterly basis to develop the ACL. Internal risk ratings are based on an assessment of the loan’s credit quality, which can change over time. The estimated lifetime loss rates are based on several loan portfolio segment-specific factors, including (i) the Company’s experience with defaults and loss severity, (ii) expected default and loss severity over the forecast period, (iii) current and forecasted economic conditions including growth, inflation, interest rates and unemployment levels, (iv) loan specific characteristics including loan-to-value (“LTV”) ratios, and (v) internal risk ratings. These evaluations are revised as conditions change and new information becomes available. The Company uses its several decades of historical default and loss severity experience which capture multiple economic cycles. The Company uses a forecast of economic assumptions for a two-year period for most of its commercial and agricultural mortgage loans, while a one-year period is used for loans originated in certain markets. After the applicable forecast period, the Company reverts to its historical loss experience using a straight-line basis over two years. For evaluations of commercial mortgage loans, in addition to historical experience, management considers factors that include the impact of a rapid change to the economy, which may not be reflected in the loan portfolio, recent loss and recovery trend experience as compared to historical loss and recovery experience, and loan specific characteristics including debt service coverage ratios (“DSCR”). In estimating expected lifetime credit loss over the term of its commercial mortgage loans, the Company adjusts for expected prepayment and extension experience during the forecast period using historical prepayment and extension experience considering the expected position in the economic cycle and the loan profile (i.e., floating rate, shorter-term fixed rate and longer-term fixed rate) and after the forecast period using long-term historical prepayment experience. For evaluations of agricultural mortgage loans, in addition to historical experience, management considers factors that include increased stress in certain sectors, which may be evidenced by higher delinquency rates, or a change in the number of higher risk loans. In estimating expected lifetime credit loss over the term of its agricultural mortgage loans, the Company’s experience is much less sensitive to the position in the economic cycle and by loan profile; accordingly, historical prepayment experience is used, while extension terms are not prevalent with the Company’s agricultural mortgage loans. Commercial mortgage loans are reviewed on an ongoing basis, which review includes, but is not limited to, an analysis of the property financial statements and rent roll, lease rollover analysis, property inspections, market analysis, estimated valuations of the underlying collateral, LTV ratios, DSCR and tenant creditworthiness. The monitoring process focuses on higher risk loans, which include those that are classified as restructured, delinquent or in foreclosure, as well as loans with higher LTV ratios and lower DSCR. Agricultural mortgage loans are reviewed on an ongoing basis, which review includes, but is not limited to, property inspections, market analysis, estimated valuations of the underlying collateral, LTV ratios and borrower creditworthiness, as well as reviews on a geographic and property-type basis. The monitoring process for agricultural mortgage loans also focuses on higher risk loans. For commercial mortgage loans, the primary credit quality indicator is the DSCR, which compares a property’s net operating income to amounts needed to service the principal and interest due under the loan. Generally, the lower the DSCR, the higher the risk of experiencing a credit loss. The Company also reviews the LTV ratio of its commercial mortgage loan portfolio. LTV ratios compare the unpaid principal balance of the loan to the estimated fair value of the underlying collateral. Generally, the higher the LTV ratio, the higher the risk of experiencing a credit loss. The DSCR and the values utilized in calculating the ratio are updated routinely. In addition, the LTV ratio is routinely updated for all but the lowest risk loans as part of the Company’s ongoing review of its commercial mortgage loan portfolio. For agricultural mortgage loans, the Company’s primary credit quality indicator is the LTV ratio. The values utilized in calculating this ratio are developed in connection with the ongoing review of the agricultural mortgage loan portfolio and are routinely updated. Commitments to lend: After loans are approved, the Company makes commitments to lend and, typically, borrowers draw down on some or all of the commitments. The timing of mortgage loan funding is based on the commitment expiration dates. A liability for credit loss for unfunded commercial and agricultural mortgage loan commitments is recorded within net investment gains (losses). The liability is based on estimated lifetime loss rates as described above and the amount of the outstanding commitments, which for lines of credit, considers estimated utilization rates. When the commitment is funded or expires, the liability is adjusted accordingly. Residential Mortgage Loan Portfolio Segment The Company’s residential mortgage loan portfolio is comprised primarily of purchased closed end, amortizing residential mortgage loans, including both performing loans purchased within 12 months of origination and reperforming loans purchased after they have been performing for at least 12 months post-modification. Residential mortgage loans are pooled by loan type (i.e., new origination and reperforming) and pooled by similar risk profiles (including consumer credit score and LTV ratios). Estimated lifetime loss rates, which vary by loan type and risk profile, are applied to the amortized cost of each loan excluding accrued investment income on a quarterly basis to develop the ACL. The estimated lifetime loss rates are based on several factors, including (i) industry historical experience and expected results over the forecast period for defaults, (ii) loss severity, (iii) prepayment rates, (iv) current and forecasted economic conditions including growth, inflation, interest rates and unemployment levels, and (v) loan pool specific characteristics including consumer credit scores, LTV ratios, payment history and home prices. These evaluations are revised as conditions change and new information becomes available. The Company uses industry historical experience which captures multiple economic cycles as the Company has purchased most of its residential mortgage loans in the last five years. The Company uses a forecast of economic assumptions for a two-year period for most of its residential mortgage loans. After the applicable forecast period, the Company immediately reverts to industry historical loss experience. For residential mortgage loans, the Company’s primary credit quality indicator is whether the loan is performing or nonperforming. The Company generally defines nonperforming residential mortgage loans as those that are 60 or more days past due and/or in nonaccrual status which is assessed monthly. Generally, nonperforming residential mortgage loans have a higher risk of experiencing a credit loss. Mortgage Loan Concessions In response to the adverse economic impact of the COVID-19 Pandemic, in 2021 and 2020, the Company granted concessions to certain of its commercial, agricultural and residential mortgage loan borrowers, including payment deferrals and other loan modifications. The Company has elected the option under the Coronavirus Aid, Relief, and Economic Security Act, the Consolidated Appropriations Act, 2021 and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised) issued by bank regulatory agencies, not to account for or report qualifying concessions as TDRs and not to classify such loans as either past due or nonaccrual during the payment deferral period. Additionally, in accordance with the FASB’s published response to a COVID-19 Pandemic technical inquiry, the Company continues to accrue interest income on such loans that have deferred payment. The Company records an ACL on this accrued interest income. Commercial For some commercial mortgage loan borrowers (principally in the retail and hotel sectors), the Company granted concessions which were primarily interest and principal payment deferrals generally ranging from three to four months and, to a much lesser extent, maturity date extensions. Deferred commercial mortgage loan interest and principal payments were $21 million at June 30, 2021. Agricultural For some agricultural mortgage loan borrowers (principally in the annual crops and agribusiness sectors), the Company granted concessions which were primarily principal payment deferrals generally ranging from three to 12 months, and covenant changes and, to a much lesser extent, maturity date extensions. Deferred agricultural mortgage loan interest and principal payments were $4 million at June 30, 2021. Residential For some residential mortgage loan borrowers, the Company granted concessions which were primarily three-month interest and principal payment deferrals. Deferred residential mortgage loan interest and principal payments were $31 million at June 30, 2021. Credit Quality of Mortgage Loans by Portfolio Segment The amortized cost of commercial mortgage loans by credit quality indicator and vintage year was as follows at June 30, 2021: Credit Quality Indicator 2021 2020 2019 2018 2017 Prior Revolving Total % of (Dollars in millions) LTV ratios: Less than 65% $ 1,120 $ 3,255 $ 2,185 $ 3,614 $ 2,681 $ 10,350 $ 1,980 $ 25,185 68.4 % 65% to 75% 515 922 2,873 1,665 1,067 2,176 — 9,218 25.0 76% to 80% 47 — 193 64 388 451 — 1,143 3.1 Greater than 80% 5 — — 49 249 979 — 1,282 3.5 Total $ 1,687 $ 4,177 $ 5,251 $ 5,392 $ 4,385 $ 13,956 $ 1,980 $ 36,828 100.0 % DSCR: > 1.20x $ 1,612 $ 3,662 $ 4,978 $ 5,367 $ 3,883 $ 12,620 $ 1,980 $ 34,102 92.6 % 1.00x - 1.20x 26 259 — 25 133 709 — 1,152 3.1 <1.00x 49 256 273 — 369 627 — 1,574 4.3 Total $ 1,687 $ 4,177 $ 5,251 $ 5,392 $ 4,385 $ 13,956 $ 1,980 $ 36,828 100.0 % The amortized cost of agricultural mortgage loans by credit quality indicator and vintage year was as follows at June 30, 2021: Credit Quality Indicator 2021 2020 2019 2018 2017 Prior Revolving Total % of (Dollars in millions) LTV ratios: Less than 65% $ 498 $ 2,311 $ 1,781 $ 2,536 $ 937 $ 5,345 $ 846 $ 14,254 90.1 % 65% to 75% 152 343 137 42 37 578 97 1,386 8.7 76% to 80% — — — — — 11 — 11 0.1 Greater than 80% — — 134 — — 42 — 176 1.1 Total $ 650 $ 2,654 $ 2,052 $ 2,578 $ 974 $ 5,976 $ 943 $ 15,827 100.0 % The amortized cost of residential mortgage loans by credit quality indicator and vintage year was as follows at June 30, 2021: Credit Quality Indicator 2021 2020 2019 2018 2017 Prior Revolving Total % of (Dollars in millions) Performance indicators: Performing $ 1 $ 239 $ 1,170 $ 698 $ 270 $ 7,677 $ — $ 10,055 95.8 % Nonperforming (1) — 1 50 13 2 378 — 444 4.2 Total $ 1 $ 240 $ 1,220 $ 711 $ 272 $ 8,055 $ — $ 10,499 100.0 % __________________ (1) Includes residential mortgage loans in process of foreclosure of $82 million and $102 million at June 30, 2021 and December 31, 2020, respectively. LTV ratios compare the unpaid principal balance of the loan to the estimated fair value of the underlying collateral. At June 30, 2021, the amortized cost of commercial and agricultural mortgage loans with an LTV ratio in excess of 100% was $548 million, or 1% of total commercial and agricultural mortgage loans. Past Due and Nonaccrual Mortgage Loans The Company has a high quality, well performing mortgage loan portfolio, with 99% of all mortgage loans classified as performing at both June 30, 2021 and December 31, 2020. The Company defines delinquency consistent with industry practice, when mortgage loans are past due more than two or more months, as applicable, by portfolio segment. The past due and nonaccrual mortgage loans at amortized cost, prior to ACL, by portfolio segment, were as follows: Past Due Greater than 90 Days Past Due Nonaccrual Portfolio Segment June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 (In millions) Commercial $ — $ — $ — $ — $ 154 $ 293 Agricultural 227 251 3 20 259 261 Residential 444 516 2 54 443 503 Total $ 671 $ 767 $ 5 $ 74 $ 856 $ 1,057 The amortized cost for nonaccrual commercial, agricultural and residential mortgage loans at beginning of year 2020 was $167 million, $137 million and $377 million, respectively. The amortized cost for nonaccrual commercial mortgage loans with no ACL was $0 and $156 million at June 30, 2021 and December 31, 2020, respectively. The amortized cost for nonaccrual agricultural mortgage loans with no ACL was $192 million and $173 million at June 30, 2021 and December 31, 2020, respectively. There were no nonaccrual residential mortgage loans without an ACL at either June 30, 2021 or December 31, 2020. Real Estate and Real Estate Joint Ventures The Company’s real estate investment portfolio is diversified by property type, geography and income stream, including income from operating leases, operating income and equity in earnings from equity method real estate joint ventures. Real estate investments, by income type, as well as income earned, were as follows at and for the periods indicated: June 30, 2021 December 31, 2020 Three Months Six Months 2021 2020 2021 2020 Income Type Carrying Value Income (In millions) Leased real estate investments $ 1,990 $ 1,965 $ 53 $ 47 $ 107 $ 93 Other real estate investments 440 418 46 15 80 49 Real estate joint ventures 5,238 5,095 31 (27) 37 (20) Total real estate and real estate joint ventures $ 7,668 $ 7,478 $ 130 $ 35 $ 224 $ 122 The carrying value of real estate investments acquired through foreclosure was $183 million and $18 million at June 30, 2021 and December 31, 2020, respectively. Depreciation expense on real estate investments was $22 million and $43 million for the three months and six months ended June 30, 2021, respectively, and $19 million and $35 million for the three months and six months ended June 30, 2020, respectively. Real estate investments were net of accumulated depreciation of $618 million and $789 million at June 30, 2021 and December 31, 2020, respectively. Leases Leased Real Estate Investments - Operating Leases The Company, as lessor, leases investment real estate, principally commercial real estate for office and retail use, through a variety of operating lease arrangements, which typically include tenant reimbursement for property operating costs and options to renew or extend the lease. In some circumstances, leases may include an option for the lessee to purchase the property. In addition, certain leases of retail space may stipulate that a portion of the income earned is contingent upon the level of the tenants’ revenues. The Company has elected

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	6. Derivatives Accounting for Derivatives See Note 1 of the Notes to the Consolidated Financial Statements included in the 2020 Annual Report for a description of the Company’s accounting policies for derivatives and Note 7 for information about the fair value hierarchy for derivatives. Derivative Strategies Types of Derivative Instruments and Derivative Strategies The Company is exposed to various risks relating to its ongoing business operations, including interest rate, foreign currency exchange rate, credit and equity market. The Company uses a variety of strategies to manage these risks, including the use of derivatives. Commonly used derivative instruments include, but are not limited to: • Interest rate derivatives: swaps, total return swaps, caps, floors, futures, swaptions, forwards and synthetic guaranteed interest contracts (“GICs”); • Foreign currency exchange rate derivatives: swaps and forwards; • Credit derivatives: purchased or written single name or index credit default swaps, and forwards; and • Equity derivatives: index options, variance swaps, exchange-traded futures and total return swaps. For detailed information on these contracts and the related strategies, see Note 8 of the Notes to the Consolidated Financial Statements included in the 2020 Annual Report. Primary Risks Managed by Derivatives The following table presents the primary underlying risk exposure, gross notional amount, and estimated fair value of the Company’s derivatives, excluding embedded derivatives, held at: June 30, 2021 December 31, 2020 Primary Underlying Risk Exposure Gross Notional Amount Estimated Fair Value Gross Notional Amount Estimated Fair Value Assets Liabilities Assets Liabilities (In millions) Derivatives Designated as Hedging Instruments: Fair value hedges: Interest rate swaps Interest rate $ 3,571 $ 2,165 $ 3 $ 3,175 $ 3,224 $ 4 Foreign currency swaps Foreign currency exchange rate 868 3 58 1,049 5 76 Subtotal 4,439 2,168 61 4,224 3,229 80 Cash flow hedges: Interest rate swaps Interest rate 4,129 5 — 4,400 14 — Interest rate forwards Interest rate 4,103 69 18 5,081 489 — Foreign currency swaps Foreign currency exchange rate 29,946 1,109 1,100 28,017 1,102 1,353 Subtotal 38,178 1,183 1,118 37,498 1,605 1,353 Total qualifying hedges 42,617 3,351 1,179 41,722 4,834 1,433 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate swaps Interest rate 23,720 3,457 4 30,512 3,041 7 Interest rate floors Interest rate 12,201 241 — 12,701 350 — Interest rate caps Interest rate 75,364 60 — 40,104 13 — Interest rate futures Interest rate 775 — 1 406 — — Interest rate options Interest rate 11,316 404 11 15,337 174 — Interest rate forwards Interest rate 265 — 33 265 — 9 Interest rate total return swaps Interest rate 1,048 15 22 1,048 — 59 Synthetic GICs Interest rate 11,405 — — 11,739 — — Foreign currency swaps Foreign currency exchange rate 4,750 255 170 5,596 292 238 Foreign currency forwards Foreign currency exchange rate 1,411 25 1 1,236 9 18 Credit default swaps — purchased Credit 918 11 5 886 8 9 Credit default swaps — written Credit 6,674 122 6 6,961 126 — Equity futures Equity market 1,614 — 2 2,591 — 16 Equity index options Equity market 27,724 594 172 19,601 459 189 Equity variance swaps Equity market 425 12 10 425 11 9 Equity total return swaps Equity market 1,835 1 54 2,542 1 274 Total non-designated or nonqualifying derivatives 181,445 5,197 491 151,950 4,484 828 Total $ 224,062 $ 8,548 $ 1,670 $ 193,672 $ 9,318 $ 2,261 Based on gross notional amounts, a substantial portion of the Company’s derivatives was not designated or did not qualify as part of a hedging relationship at both June 30, 2021 and December 31, 2020. The Company’s use of derivatives includes (i) derivatives that serve as macro hedges of the Company’s exposure to various risks and that generally do not qualify for hedge accounting due to the criteria required under the portfolio hedging rules, (ii) derivatives that economically hedge insurance liabilities that contain mortality or morbidity risk and that generally do not qualify for hedge accounting because the lack of these risks in the derivatives cannot support an expectation of a highly effective hedging relationship, (iii) derivatives that economically hedge embedded derivatives that do not qualify for hedge accounting because the changes in estimated fair value of the embedded derivatives are already recorded in net income, and (iv) written credit default swaps and interest rate swaps that are used to synthetically create investments and that do not qualify for hedge accounting because they do not involve a hedging relationship. For these nonqualified derivatives, changes in market factors can lead to the recognition of fair value changes on the statement of operations without an offsetting gain or loss recognized in earnings for the item being hedged. The Effects of Derivatives on the Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) The following table presents the interim condensed consolidated financial statement location and amount of gain (loss) recognized on fair value, cash flow, nonqualifying hedging relationships and embedded derivatives: Three Months Ended June 30, 2021 Net Net Net Policyholder Interest Credited to Policyholder Account Balances OCI (In millions) Gain (Loss) on Fair Value Hedges: Interest rate derivatives: Derivatives designated as hedging instruments (1) $ — $ — $ — $ 237 $ — N/A Hedged items 1 — — (242) — N/A Foreign currency exchange rate derivatives: Derivatives designated as hedging instruments (1) (2) — — — — N/A Hedged items 2 — — — — N/A Subtotal 1 — — (5) — N/A Gain (Loss) on Cash Flow Hedges: Interest rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A $ 508 Amount of gains (losses) reclassified from AOCI into income 14 19 — — — (33) Foreign currency exchange rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A 351 Amount of gains (losses) reclassified from AOCI into income 1 108 — — — (109) Foreign currency transaction gains (losses) on hedged items — (106) — — — — Credit derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A — Subtotal 15 21 — — — 717 Gain (Loss) on Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate derivatives (1) — — 358 — — N/A Foreign currency exchange rate derivatives (1) — — 24 — — N/A Credit derivatives — purchased (1) — — (8) — — N/A Credit derivatives — written (1) — — 22 — — N/A Equity derivatives (1) (1) — (270) (92) — N/A Foreign currency transaction gains (losses) on hedged items — — (9) — — N/A Subtotal (1) — 117 (92) — N/A Earned income on derivatives 32 — 160 51 (38) — Embedded derivatives (2) N/A N/A (252) — N/A N/A Total $ 47 $ 21 $ 25 $ (46) $ (38) $ 717 Three Months Ended June 30, 2020 Net Investment Income Net Investment Gains (Losses) Net Derivative Gains (Losses) Policyholder Benefits and Claims Interest Credited to Policyholder Account Balances OCI (In millions) Gain (Loss) on Fair Value Hedges: Interest rate derivatives: Derivatives designated as hedging instruments (1) $ (1) $ — $ — $ (31) $ — N/A Hedged items 4 — — 17 — N/A Foreign currency exchange rate derivatives: Derivatives designated as hedging instruments (1) (5) — — — — N/A Hedged items 4 — — — — N/A Subtotal 2 — — (14) — N/A Gain (Loss) on Cash Flow Hedges: Interest rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A $ (110) Amount of gains (losses) reclassified from AOCI into income 9 42 — — — (51) Foreign currency exchange rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A (305) Amount of gains (losses) reclassified from AOCI into income — 266 — — — (266) Foreign currency transaction gains (losses) on hedged items — (223) — — — — Credit derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A — Subtotal 9 85 — — — (732) Gain (Loss) on Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate derivatives (1) (2) — (57) — — N/A Foreign currency exchange rate derivatives (1) — — (85) — — N/A Credit derivatives — purchased (1) — — (19) — — N/A Credit derivatives — written (1) — — 121 — — N/A Equity derivatives (1) — — (783) (78) — N/A Foreign currency transaction gains (losses) on hedged items — — (28) — — N/A Subtotal (2) — (851) (78) — N/A Earned income on derivatives 74 — 144 43 (38) — Embedded derivatives (2) N/A N/A (86) — N/A N/A Total $ 83 $ 85 $ (793) $ (49) $ (38) $ (732) Six Months Ended June 30, 2021 Net Net Net Policyholder Interest Credited to Policyholder Account Balances OCI (In millions) Gain (Loss) on Fair Value Hedges: Interest rate derivatives: Derivatives designated as hedging instruments (1) $ 3 $ — $ — $ (365) $ — N/A Hedged items (2) — — 331 — N/A Foreign currency exchange rate derivatives: Derivatives designated as hedging instruments (1) 11 — — — — N/A Hedged items (10) — — — — N/A Subtotal 2 — — (34) — N/A Gain (Loss) on Cash Flow Hedges: Interest rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A $ (703) Amount of gains (losses) reclassified from AOCI into income 27 48 — — — (75) Foreign currency exchange rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A 302 Amount of gains (losses) reclassified from AOCI into income 2 (8) — — — 6 Foreign currency transaction gains (losses) on hedged items — 4 — — — — Credit derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A — Subtotal 29 44 — — — (470) Gain (Loss) on Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate derivatives (1) 2 — (1,187) — — N/A Foreign currency exchange rate derivatives (1) — — 43 — — N/A Credit derivatives — purchased (1) — — 4 — — N/A Credit derivatives — written (1) — — 21 — — N/A Equity derivatives (1) (2) — (827) (182) — N/A Foreign currency transaction gains (losses) on hedged items — — (12) — — N/A Subtotal — — (1,958) (182) — N/A Earned income on derivatives 78 — 334 102 (77) — Embedded derivatives (2) N/A N/A 634 — N/A N/A Total $ 109 $ 44 $ (990) $ (114) $ (77) $ (470) Six Months Ended June 30, 2020 Net Investment Income Net Investment Gains (Losses) Net Derivative Gains (Losses) Policyholder Benefits and Claims Interest Credited to Policyholder Account Balances OCI (In millions) Gain (Loss) on Fair Value Hedges: Interest rate derivatives: Derivatives designated as hedging instruments (1) $ (11) $ — $ — $ 743 $ — N/A Hedged items 8 — — (752) — N/A Foreign currency exchange rate derivatives: Derivatives designated as hedging instruments (1) 64 — — — — N/A Hedged items (58) — — — — N/A Subtotal 3 — — (9) — N/A Gain (Loss) on Cash Flow Hedges: Interest rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A $ 1,892 Amount of gains (losses) reclassified from AOCI into income 15 48 — — — (63) Foreign currency exchange rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A 984 Amount of gains (losses) reclassified from AOCI into income — (185) — — — 185 Foreign currency transaction gains (losses) on hedged items — 234 — — — — Credit derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A — Subtotal 15 97 — — — 2,998 Gain (Loss) on Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate derivatives (1) (6) — 3,337 — — N/A Foreign currency exchange rate derivatives (1) — — 289 — — N/A Credit derivatives — purchased (1) — — 26 — — N/A Credit derivatives — written (1) — — (113) — — N/A Equity derivatives (1) — — 298 53 — N/A Foreign currency transaction gains (losses) on hedged items — — (140) — — N/A Subtotal (6) — 3,697 53 — N/A Earned income on derivatives 156 — 224 81 (82) — Embedded derivatives (2) N/A N/A (1,159) — N/A N/A Total $ 168 $ 97 $ 2,762 $ 125 $ (82) $ 2,998 __________________ (1) Excludes earned income on derivatives. (2) The valuation of guaranteed minimum benefits includes a nonperformance risk adjustment. The amounts included in net derivative gains (losses) in connection with this adjustment we re $3 million and Fair Value Hedges The Company designates and accounts for the following as fair value hedges when they have met the requirements of fair value hedging: (i) interest rate swaps to convert fixed rate assets and liabilities to floating rate assets and liabilities and (ii) foreign currency swaps to hedge the foreign currency fair value exposure of foreign currency denominated assets and liabilities. The following table presents the balance sheet classification, carrying amount and cumulative fair value hedging adjustments for items designated and qualifying as hedged items in fair value hedges: Balance Sheet Line Item Carrying Amount of the Cumulative Amount June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 (In millions) Fixed maturity securities AFS $ 408 $ 461 $ (1) $ (1) Mortgage loans $ 766 $ 925 $ (1) $ 20 Future policy benefits $ (4,715) $ (5,512) $ (969) $ (1,307) __________________ (1) Includes ($181) million and ($1) million of hedging adjustments on discontinued hedging relationships at June 30, 2021 and December 31, 2020, respectively. All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness. Cash Flow Hedges The Company designates and accounts for the following as cash flow hedges when they have met the requirements of cash flow hedging: (i) interest rate swaps to convert floating rate assets and liabilities to fixed rate assets and liabilities, (ii) foreign currency swaps to hedge the foreign currency cash flow exposure of foreign currency denominated assets and liabilities, (iii) interest rate forwards and credit forwards to lock in the price to be paid for forward purchases of investments, and (iv) interest rate swaps and interest rate forwards to hedge the forecasted purchases of fixed-rate investments. In certain instances, the Company discontinued cash flow hedge accounting because the forecasted transactions were no longer probable of occurring. Because certain of the forecasted transactions also were not probable of occurring within two months of the anticipated date, the Company reclassified amounts from AOCI into income. These amounts were $6 million for both the three months and six months ended June 30, 2021 and $31 million and $32 million for the three months and six months ended June 30, 2020, respectively. At both June 30, 2021 and December 31, 2020, the maximum length of time over which the Company was hedging its exposure to variability in future cash flows for forecasted transactions did not exceed eight years. At June 30, 2021 and December 31, 2020, the balance in AOCI associated with cash flow hedges was $1.8 billion and $2.3 billion, respectively. All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness. At June 30, 2021, the Company expected to reclassify ($7) million of deferred net gains (losses) on derivatives in AOCI to earnings within the next 12 months. Credit Derivatives In connection with synthetically created credit investment transactions, the Company writes credit default swaps for which it receives a premium to insure credit risk. Such credit derivatives are included within the effects of derivatives on the interim condensed consolidated statements of operations and comprehensive income (loss) table. If a credit event occurs, as defined by the contract, the contract may be cash settled or it may be settled gross by the Company paying the counterparty the specified swap notional amount in exchange for the delivery of par quantities of the referenced credit obligation. The Company’s maximum amount at risk, assuming the value of all referenced credit obligations is zero, was $6.7 billion and $7.0 billion at June 30, 2021 and December 31, 2020, respectively. The Company can terminate these contracts at any time through cash settlement with the counterparty at an amount equal to the then current estimated fair value of the credit default swaps. At June 30, 2021 and December 31, 2020, the Company would have received $116 million and $126 million, respectively, to terminate all of these contracts. The following table presents the estimated fair value, maximum amount of future payments and weighted average years to maturity of written credit default swaps at: June 30, 2021 December 31, 2020 Rating Agency Designation of Referenced Estimated Maximum Weighted Estimated Maximum Weighted (Dollars in millions) Aaa/Aa/A Single name credit default swaps (3) $ — $ 20 1.7 $ — $ 54 0.6 Credit default swaps referencing indices 24 1,779 2.0 27 1,779 2.5 Subtotal 24 1,799 2.0 27 1,833 2.4 Baa Single name credit default swaps (3) 1 105 2.4 2 174 2.1 Credit default swaps referencing indices 96 4,735 5.2 97 4,954 5.3 Subtotal 97 4,840 5.2 99 5,128 5.2 Ba Credit default swaps referencing indices (1) 20 4.5 — — — Subtotal (1) 20 4.5 — — — Caa3 Credit default swaps referencing indices (4) 15 4.5 — — — Subtotal (4) 15 4.5 — — — Total $ 116 $ 6,674 4.3 $ 126 $ 6,961 4.5 __________________ (1) The rating agency designations are based on availability and the midpoint of the applicable ratings among Moody’s Investors Service (“Moody’s”), S&P Global Ratings (“S&P”) and Fitch Ratings. If no rating is available from a rating agency, then an internally developed rating is used. (2) The weighted average years to maturity of the credit default swaps is calculated based on weighted average gross notional amounts. (3) Single name credit default swaps may be referenced to the credit of corporations, foreign governments, or municipals. Credit Risk on Freestanding Derivatives The Company may be exposed to credit-related losses in the event of nonperformance by its counterparties to derivatives. Generally, the current credit exposure of the Company’s derivatives is limited to the net positive estimated fair value of derivatives at the reporting date after taking into consideration the existence of master netting or similar agreements and any collateral received pursuant to such agreements. Derivatives may be exchange-traded or contracted in the over-the-counter (“OTC”) market. Certain of the Company’s OTC derivatives are cleared and settled through central clearinghouses (“OTC-cleared”), while others are bilateral contracts between two counterparties (“OTC-bilateral”). The Company manages its credit risk related to derivatives by entering into transactions with creditworthy counterparties and establishing and monitoring exposure limits. The Company enters into contracts with counterparties in jurisdictions which it understands that close-out netting should be enforceable. The Company’s OTC-bilateral derivative transactions are governed by the International Swaps and Derivatives Association, Inc. (“ISDA”) Master Agreements which provide for legally enforceable set-off and close-out netting of exposures to specific counterparties in the event of early termination of a transaction, which includes, but is not limited to, events of default and bankruptcy. In the event of an early termination, close-out netting permits the Company (subject to financial regulations such as the Orderly Liquidation Authority under Title II of Dodd-Frank) to set off receivables from the counterparty against payables to the same counterparty arising out of all included transactions and to apply collateral to the obligations without application of the automatic stay, upon the counterparty’s bankruptcy. All of the Company’s ISDA Master Agreements also include Credit Support Annex provisions which require both the pledging and accepting of collateral in connection with its OTC-bilateral derivatives as required by applicable law. The Company’s OTC-cleared derivatives are effected through central clearing counterparties and its exchange-traded derivatives are effected through regulated exchanges. Such positions are marked to market and margined on a daily basis (both initial margin and variation margin), and the Company has minimal exposure to credit-related losses in the event of nonperformance by brokers and central clearinghouses to such derivatives. See Note 7 for a description of the impact of credit risk on the valuation of derivatives. The estimated fair values of the Company’s net derivative assets and net derivative liabilities after the application of master netting agreements and collateral were as follows at: June 30, 2021 December 31, 2020 Derivatives Subject to a Master Netting Arrangement or a Similar Arrangement Assets Liabilities Assets Liabilities (In millions) Gross estimated fair value of derivatives: OTC-bilateral (1) $ 8,518 $ 1,653 $ 9,244 $ 2,192 OTC-cleared (1) 114 4 139 6 Exchange-traded — 3 — 16 Total gross estimated fair value of derivatives presented on the interim condensed consolidated balance sheets (1) 8,632 1,660 9,383 2,214 Gross amounts not offset on the interim condensed consolidated balance sheets: Gross estimated fair value of derivatives: (2) OTC-bilateral (1,615) (1,615) (1,996) (1,996) OTC-cleared — — (5) (5) Cash collateral: (3), (4) OTC-bilateral (5,679) — (6,073) — OTC-cleared (97) — (98) — Securities collateral: (5) OTC-bilateral (1,151) (38) (1,115) (188) OTC-cleared — (4) — (1) Exchange-traded — (3) — (16) Net amount after application of master netting agreements and collateral $ 90 $ — $ 96 $ 8 __________________ (1) At June 30, 2021 and December 31, 2020, derivative assets included income (expense) accruals reported in accrued investment income or in other liabilities of $84 million and $65 million, respectively, and derivative liabilities included (income) expense accruals reported in accrued investment income or in other liabilities of ($10) million and ($47) million, respectively. (2) Estimated fair value of derivatives is limited to the amount that is subject to set-off and includes income or expense accruals. (3) Cash collateral received by the Company for OTC-bilateral and OTC-cleared derivatives, where the centralized clearinghouse treats variation margin as collateral, is included in cash and cash equivalents, short-term investments or in fixed maturity securities AFS, and the obligation to return it is included in payables for collateral under securities loaned and other transactions on the balance sheet. (4) The receivable for the return of cash collateral provided by the Company is inclusive of initial margin on exchange-traded and OTC-cleared derivatives and is included in premiums, reinsurance and other receivables on the balance sheet. The amount of cash collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreements. At June 30, 2021 and December 31, 2020, the Company received excess cash collateral of $37 million and $175 million, respectively, and provided no excess cash collateral. (5) Securities collateral received by the Company is held in separate custodial accounts and is not recorded on the balance sheet. Subject to certain constraints, the Company is permitted by contract to sell or re-pledge this collateral, but at June 30, 2021, none of the collateral had been sold or re-pledged. Securities collateral pledged by the Company is reported in fixed maturity securities AFS on the balance sheet. Subject to certain constraints, the counterparties are permitted by contract to sell or re-pledge this collateral. The amount of securities collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreements and cash collateral. At June 30, 2021 and December 31, 2020, the Company received excess securities collateral with an estimated fair value of $29 million and $150 million, respectively, for its OTC-bilateral derivatives, which are not included in the table above due to the foregoing limitation. At June 30, 2021 and December 31, 2020, the Company provided excess securities collateral with an estimated fair value of $32 million and $185 million, respectively, for its OTC-bilateral derivatives, $746 million and $1.4 billion, respectively, for its OTC-cleared derivatives, and $96 million and $188 million, respectively, for its exchange-traded derivatives, which are not included in the table above due to the foregoing limitation. The Company’s collateral arrangements for its OTC-bilateral derivatives generally require the counterparty in a net liability position, after considering the effect of netting agreements, to pledge collateral when the collateral amount owed by that counterparty reaches a minimum transfer amount. All of the Company’s netting agreements for derivatives contain provisions that require both Metropolitan Life Insurance Company and the counterparty to maintain a specific investment grade financial strength or credit rating from each of Moody’s and S&P. If a party’s financial strength or credit rating were to fall below that specific investment grade financial strength or credit rating, that party would be in violation of these provisions, and the other party to the derivatives could terminate the transactions and demand immediate settlement and payment based on such party’s reasonable valuation of the derivatives. The following table presents the estimated fair value of the Company’s OTC-bilateral derivatives that were in a net liability position after considering the effect of netting agreements, together with the estimated fair value and balance sheet location of the collateral pledged. Derivatives Subject to Financial June 30, 2021 December 31, 2020 (In millions) Estimated fair value of derivatives in a net liability position (1) $ 39 $ 196 Estimated fair value of collateral provided: Fixed maturity securities AFS $ 53 $ 239 __________________ (1) After taking into consideration the existence of netting agreements. Embedded Derivatives The Company issues certain products or purchases certain investments that contain embedded derivatives that are required to be separated from their host contracts and accounted for as freestanding derivatives. The following table presents the estimated fair value and balance sheet location of the Company’s embedded derivatives that have been separated from their host contracts at: Balance Sheet Location June 30, 2021 December 31, 2020 (In millions) Embedded derivatives within liability host contracts: Direct guaranteed minimum benefits Policyholder account balances $ 159 $ 488 Assumed guaranteed minimum benefits Policyholder account balances 4 5 Funds withheld on ceded reinsurance (including affiliated) Other liabilities 1,186 1,428 Fixed annuities with equity indexed returns Policyholder account balances 162 139 Other guarantees Policyholder account balances — 1 Embedded derivatives within liability host contracts $ 1,511 $ 2,061

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value	7. Fair Value Considerable judgment is often required in interpreting the market data used to develop estimates of fair value, and the use of different assumptions or valuation methodologies may have a material effect on the estimated fair value amounts. Recurring Fair Value Measurements The assets and liabilities measured at estimated fair value on a recurring basis and their corresponding placement in the fair value hierarchy, including those items for which the Company has elected the FVO, are presented below at: June 30, 2021 Fair Value Hierarchy Level 1 Level 2 Level 3 Total Estimated Fair Value (In millions) Assets Fixed maturity securities AFS: U.S. corporate $ — $ 52,282 $ 6,370 $ 58,652 Foreign corporate — 22,936 7,735 30,671 U.S. government and agency 16,084 15,496 — 31,580 RMBS 111 19,942 3,175 23,228 ABS — 10,542 1,351 11,893 Municipals — 8,752 — 8,752 CMBS — 6,403 305 6,708 Foreign government — 4,985 11 4,996 Total fixed maturity securities AFS 16,195 141,338 18,947 176,480 Short-term investments 1,838 217 77 2,132 Residential mortgage loans — FVO — — 140 140 Other investments 407 200 724 1,331 Derivative assets: (1) Interest rate — 6,343 73 6,416 Foreign currency exchange rate — 1,392 — 1,392 Credit — 110 23 133 Equity market — 607 — 607 Total derivative assets — 8,452 96 8,548 Separate account assets (2) 29,952 96,816 1,110 127,878 Total assets (3) $ 48,392 $ 247,023 $ 21,094 $ 316,509 Liabilities Derivative liabilities: (1) Interest rate $ 1 $ 40 $ 51 $ 92 Foreign currency exchange rate — 1,329 — 1,329 Credit — 5 6 11 Equity market 2 236 — 238 Total derivative liabilities 3 1,610 57 1,670 Embedded derivatives within liability host contracts (4) — — 1,511 1,511 Separate account liabilities (2) 5 10 5 20 Total liabilities $ 8 $ 1,620 $ 1,573 $ 3,201 December 31, 2020 Fair Value Hierarchy Level 1 Level 2 Level 3 Total Estimated Fair Value (In millions) Assets Fixed maturity securities AFS: U.S. corporate $ — $ 53,717 $ 6,692 $ 60,409 Foreign corporate — 24,098 8,181 32,279 U.S. government and agency 12,697 18,074 — 30,771 RMBS — 21,186 3,040 24,226 ABS — 11,351 1,224 12,575 Municipals — 8,983 — 8,983 CMBS — 6,628 201 6,829 Foreign government — 5,263 5 5,268 Total fixed maturity securities AFS 12,697 149,300 19,343 181,340 Short-term investments 2,216 406 1 2,623 Residential mortgage loans — FVO — — 165 165 Other investments 431 270 565 1,266 Derivative assets: (1) Interest rate — 6,816 489 7,305 Foreign currency exchange rate — 1,408 — 1,408 Credit — 109 25 134 Equity market — 454 17 471 Total derivative assets — 8,787 531 9,318 Separate account assets (2) 28,296 99,405 945 128,646 Total assets (3) $ 43,640 $ 258,168 $ 21,550 $ 323,358 Liabilities Derivative liabilities: (1) Interest rate $ — $ 11 $ 68 $ 79 Foreign currency exchange rate — 1,683 2 1,685 Credit — 9 — 9 Equity market 16 463 9 488 Total derivative liabilities 16 2,166 79 2,261 Embedded derivatives within liability host contracts (4) — — 2,061 2,061 Separate account liabilities (2) 12 8 6 26 Total liabilities $ 28 $ 2,174 $ 2,146 $ 4,348 __________________ (1) Derivative assets are presented within other invested assets on the interim condensed consolidated balance sheets and derivative liabilities are presented within other liabilities on the interim condensed consolidated balance sheets. The amounts are presented gross in the tables above to reflect the presentation on the interim condensed consolidated balance sheets, but are presented net for purposes of the rollforward in the Fair Value Measurements Using Significant Unobservable Inputs (Level 3) tables. (2) 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. Separate account liabilities presented in the tables above represent derivative liabilities. (3) Total assets included in the fair value hierarchy exclude other limited partnership interests that are measured at estimated fair value using the net asset value (“NAV”) per share (or its equivalent) practical expedient. At both June 30, 2021 and December 31, 2020, the estimated fair value of such investments was $70 million. (4) Embedded derivatives within liability host contracts are presented within policyholder account balances and other liabilities on the interim condensed consolidated balance sheets. The following describes the valuation methodologies used to measure assets and liabilities at fair value. Investments Securities, Short-term Investments and Other Investments When available, the estimated fair value of these financial instruments is based on quoted prices in active markets that are readily and regularly obtainable. Generally, these are the most liquid of the Company’s securities holdings and valuation of these securities does not involve management’s judgment. When quoted prices in active markets are not available, the determination of estimated fair value of securities is based on market standard valuation methodologies, giving priority to observable inputs. The significant inputs to the market standard valuation methodologies for certain types of securities with reasonable levels of price transparency are inputs that are observable in the market or can be derived principally from, or corroborated by, observable market data. When observable inputs are not available, the market standard valuation methodologies rely on inputs that are significant to the estimated fair value that are not observable in the market or cannot be derived principally from, or corroborated by, observable market data. These unobservable inputs can be based in large part on management’s judgment or estimation and cannot be supported by reference to market activity. Even though these inputs are unobservable, management believes they are consistent with what other market participants would use when pricing such securities and are considered appropriate given the circumstances. The estimated fair value of short-term investments and other investments is determined on a basis consistent with the methodologies described herein. The valuation approaches and key inputs for each category of assets or liabilities that are classified within Level 2 and Level 3 of the fair value hierarchy are presented below. The primary valuation approaches are the market approach, which considers recent prices from market transactions involving identical or similar assets or liabilities, and the income approach, which converts expected future amounts (e.g. cash flows) to a single current, discounted amount. The valuation of most instruments listed below is determined using independent pricing sources, matrix pricing, discounted cash flow methodologies or other similar techniques that use either observable market inputs or unobservable inputs. Instrument Level 2 Observable Inputs Level 3 Unobservable Inputs Fixed maturity securities AFS U.S. corporate and Foreign corporate securities Valuation Approaches: Principally the market and income approaches. Valuation Approaches: Principally the market approach. Key Inputs: Key Inputs: • quoted prices in markets that are not active • illiquidity premium • benchmark yields; spreads off benchmark yields; new issuances; issuer ratings • delta spread adjustments to reflect specific credit-related issues • trades of identical or comparable securities; duration • credit spreads • privately-placed securities are valued using the additional key inputs: • quoted prices in markets that are not active for identical or similar securities that are less liquid and based on lower levels of trading activity than securities classified in Level 2 • market yield curve; call provisions • observable prices and spreads for similar public or private securities that incorporate the credit quality and industry sector of the issuer • independent non-binding broker quotations • delta spread adjustments to reflect specific credit-related issues U.S. government and agency securities, Municipals and Foreign government securities Valuation Approaches: Principally the market approach. Valuation Approaches: Principally the market approach. Key Inputs: Key Inputs: • quoted prices in markets that are not active • independent non-binding broker quotations • benchmark U.S. Treasury yield or other yields • quoted prices in markets that are not active for identical or similar securities that are less liquid and based on lower levels of trading activity than securities classified in Level 2 • the spread off the U.S. Treasury yield curve for the identical security • issuer ratings and issuer spreads; broker-dealer quotations • credit spreads • comparable securities that are actively traded Structured Products Valuation Approaches: Principally the market and income approaches. Valuation Approaches: Principally the market and income approaches. Key Inputs: Key Inputs: • quoted prices in markets that are not active • credit spreads • spreads for actively traded securities; spreads off benchmark yields • quoted prices in markets that are not active for identical or similar securities that are less liquid and based on lower levels of trading activity than securities classified in Level 2 • expected prepayment speeds and volumes • current and forecasted loss severity; ratings; geographic region • independent non-binding broker quotations • weighted average coupon and weighted average maturity • credit ratings • average delinquency rates; debt-service coverage ratios • credit ratings • issuance-specific information, including, but not limited to: • collateral type; structure of the security; vintage of the loans • payment terms of the underlying assets • payment priority within the tranche; deal performance Instrument Level 2 Observable Inputs Level 3 Unobservable Inputs Short-term investments and Other investments • Certain short-term investments and certain other investments are of a similar nature and class to the fixed maturity securities AFS described above; while certain other investments are similar to equity securities. The valuation approaches and observable inputs used in their valuation are also similar to those described above. Other investments contain equity securities valued using quoted prices in markets that are not considered active. • Certain short-term investments and certain other investments are of a similar nature and class to the fixed maturity securities AFS described above; while certain other investments are similar to equity securities. The valuation approaches and unobservable inputs used in their valuation are also similar to those described above. Other investments contain equity securities that use key unobservable inputs such as credit ratings; issuance structures, in addition to those described above for fixed maturities AFS. Other investments include certain real estate joint ventures and use the valuation approach and key inputs as described for other limited partnership interests below. Residential mortgage loans — FVO • N/A Valuation Approaches: Principally the market approach. Valuation Techniques and Key Inputs: These investments are based primarily on matrix pricing or other similar techniques that utilize inputs from mortgage servicers that are unobservable or cannot be derived principally from, or corroborated by, observable market data. Separate account assets and Separate account liabilities (1) Mutual funds and hedge funds without readily determinable fair values as prices are not published publicly Key Input: • N/A • quoted prices or reported NAV provided by the fund managers Other limited partnership interests • N/A Valued giving consideration to the underlying holdings Key Inputs: • liquidity; bid/ask spreads; performance record of the fund manager • other relevant variables that may impact the exit value of the particular partnership interest __________________ (1) Estimated fair value equals carrying value, based on the value of the underlying assets, including: mutual fund interests, fixed maturity securities, equity securities, derivatives, hedge funds, other limited partnership interests, short-term investments and cash and cash equivalents. Fixed maturity securities, equity securities, derivatives, short-term investments and cash and cash equivalents are similar in nature to the instruments described under “— Securities, Short-term Investments and Other Investments” and “— Derivatives — Freestanding Derivatives.” Derivatives The estimated fair value of derivatives is determined through the use of quoted market prices for exchange-traded derivatives, or through the use of pricing models for OTC-bilateral and OTC-cleared derivatives. The determination of estimated fair value, when quoted market values are not available, is based on market standard valuation methodologies and inputs that management believes are consistent with what other market participants would use when pricing such instruments. Derivative valuations can be affected by changes in interest rates, foreign currency exchange rates, financial indices, credit spreads, default risk, nonperformance risk, volatility, liquidity and changes in estimates and assumptions used in the pricing models. The significant inputs to the pricing models for most OTC-bilateral and OTC-cleared derivatives are inputs that are observable in the market or can be derived principally from, or corroborated by, observable market data. Certain OTC-bilateral and OTC-cleared derivatives may rely on inputs that are significant to the estimated fair value that are not observable in the market or cannot be derived principally from, or corroborated by, observable market data. These unobservable inputs may involve significant management judgment or estimation. Even though unobservable, these inputs are based on assumptions deemed appropriate given the circumstances and management believes they are consistent with what other market participants would use when pricing such instruments. Most inputs for OTC-bilateral and OTC-cleared derivatives are mid-market inputs but, in certain cases, liquidity adjustments are made when they are deemed more representative of exit value. Market liquidity, as well as the use of different methodologies, assumptions and inputs, may have a material effect on the estimated fair values of the Company’s derivatives and could materially affect net income. The credit risk of both the counterparty and the Company are considered in determining the estimated fair value for all OTC-bilateral and OTC-cleared derivatives, and any potential credit adjustment is based on the net exposure by counterparty after taking into account the effects of netting agreements and collateral arrangements. The Company values its OTC-bilateral and OTC-cleared derivatives using standard swap curves which may include a spread to the risk-free rate, depending upon specific collateral arrangements. This credit spread is appropriate for those parties that execute trades at pricing levels consistent with similar collateral arrangements. As the Company and its significant derivative counterparties generally execute trades at such pricing levels and hold sufficient collateral, additional credit risk adjustments are not currently required in the valuation process. The Company’s ability to consistently execute at such pricing levels is, in part, due to the netting agreements and collateral arrangements that are in place with all of its significant derivative counterparties. An evaluation of the requirement to make additional credit risk adjustments is performed by the Company each reporting period. Freestanding Derivatives Level 2 Valuation Approaches and Key Inputs: This level includes all types of derivatives utilized by the Company with the exception of exchange-traded derivatives included within Level 1 and those derivatives with unobservable inputs as described in Level 3. Level 3 Valuation Approaches and Key Inputs: These valuation methodologies generally use the same inputs as described in the corresponding sections for Level 2 measurements of derivatives. However, these derivatives result in Level 3 classification because one or more of the significant inputs are not observable in the market or cannot be derived principally from, or corroborated by, observable market data. Freestanding derivatives are principally valued using the income approach. Valuations of non-option-based derivatives utilize present value techniques, whereas valuations of option-based derivatives utilize option pricing models. Key inputs are as follows: Instrument Interest Rate Foreign Currency Credit Equity Market Inputs common to Level 2 and Level 3 by instrument type • swap yield curves • swap yield curves • swap yield curves • swap yield curves • basis curves • basis curves • credit curves • spot equity index levels • interest rate volatility (1) • currency spot rates • recovery rates • dividend yield curves • cross currency basis curves • equity volatility (1) Level 3 • swap yield curves (2) • swap yield curves (2) • swap yield curves (2) • dividend yield curves (2) • basis curves (2) • basis curves (2) • credit curves (2) • equity volatility (1), (2) • repurchase rates • cross currency basis curves (2) • credit spreads • correlation between model inputs (1) • interest rate volatility (1), (2) • currency correlation • repurchase rates • independent non-binding broker quotations __________________ (1) Option-based only. (2) Extrapolation beyond the observable limits of the curve(s). Embedded Derivatives Embedded derivatives principally include certain direct and assumed variable annuity guarantees, annuity contracts, and investment risk within funds withheld related to certain reinsurance agreements. Embedded derivatives are recorded at estimated fair value with changes in estimated fair value reported in net income. The Company issues certain variable annuity products with guaranteed minimum benefits. GMWBs, GMABs and certain GMIBs contain embedded derivatives, which are measured at estimated fair value separately from the host variable annuity contract, with changes in estimated fair value reported in net derivative gains (losses). These embedded derivatives are classified within policyholder account balances on the interim condensed consolidated balance sheets. The Company calculates the fair value of these embedded derivatives, which is estimated as the present value of projected future benefits minus the present value of projected future fees using actuarial and capital market assumptions including expectations concerning policyholder behavior. The calculation is based on in-force business, projecting future cash flows from the embedded derivative over multiple risk neutral stochastic scenarios using observable risk-free rates. Capital market assumptions, such as risk-free rates and implied volatilities, are based on market prices for publicly traded instruments to the extent that prices for such instruments are observable. Implied volatilities beyond the observable period are extrapolated based on observable implied volatilities and historical volatilities. Actuarial assumptions, including mortality, lapse, withdrawal and utilization, are unobservable and are reviewed at least annually based on actuarial studies of historical experience. The valuation of these guarantee liabilities includes nonperformance risk adjustments and adjustments for a risk margin related to non-capital market inputs. The nonperformance adjustment is determined by taking into consideration publicly available information relating to spreads in the secondary market for MetLife, Inc.’s debt, including related credit default swaps. These observable spreads are then adjusted, as necessary, to reflect the priority of these liabilities and the claims paying ability of the issuing insurance subsidiaries as compared to MetLife, Inc. Risk margins are established to capture the non-capital market risks of the instrument which represent the additional compensation a market participant would require to assume the risks related to the uncertainties of such actuarial assumptions as annuitization, premium persistency, partial withdrawal and surrenders. The establishment of risk margins requires the use of significant management judgment, including assumptions of the amount and cost of capital needed to cover the guarantees. These guarantees may be more costly than expected in volatile or declining equity markets. Market conditions including, but not limited to, changes in interest rates, equity indices, market volatility and foreign currency exchange rates; changes in nonperformance risk; and variations in actuarial assumptions regarding policyholder behavior, mortality and risk margins related to non-capital market inputs, may result in significant fluctuations in the estimated fair value of the guarantees that could materially affect net income. The estimated fair value of the embedded derivatives within funds withheld related to certain ceded reinsurance is determined based on the change in estimated fair value of the underlying assets held by the Company in a reference portfolio backing the funds withheld liability. The estimated fair value of the underlying assets is determined as described in “— Investments — Securities, Short-term Investments and Other Investments.” The estimated fair value of these embedded derivatives is included, along with their funds withheld hosts, in other liabilities on the interim condensed consolidated balance sheets with changes in estimated fair value recorded in net derivative gains (losses). Changes in the credit spreads on the underlying assets, interest rates and market volatility may result in significant fluctuations in the estimated fair value of these embedded derivatives that could materially affect net income. The Company issues certain annuity contracts which allow the policyholder to participate in returns from equity indices. These equity indexed features are embedded derivatives which are measured at estimated fair value separately from the host fixed annuity contract, with changes in estimated fair value reported in net derivative gains (losses). These embedded derivatives are classified within policyholder account balances on the interim condensed consolidated balance sheets. The estimated fair value of the embedded equity indexed derivatives, based on the present value of future equity returns to the policyholder using actuarial and present value assumptions including expectations concerning policyholder behavior, is calculated by the Company’s actuarial department. The calculation is based on in-force business and uses standard capital market techniques, such as Black-Scholes, to calculate the value of the portion of the embedded derivative for which the terms are set. The portion of the embedded derivative covering the period beyond where terms are set is calculated as the present value of amounts expected to be spent to provide equity indexed returns in those periods. The valuation of these embedded derivatives also includes the establishment of a risk margin, as well as changes in nonperformance risk. Embedded Derivatives Within Asset and Liability Host Contracts Level 3 Valuation Approaches and Key Inputs: Direct and assumed guaranteed minimum benefits These embedded derivatives are principally valued using the income approach. Valuations are based on option pricing techniques, which utilize significant inputs that may include swap yield curves, currency exchange rates and implied volatilities. These embedded derivatives result in Level 3 classification because one or more of the significant inputs are not observable in the market or cannot be derived principally from, or corroborated by, observable market data. Significant unobservable inputs generally include: the extrapolation beyond observable limits of the swap yield curves and implied volatilities, actuarial assumptions for policyholder behavior and mortality and the potential variability in policyholder behavior and mortality, nonperformance risk and cost of capital for purposes of calculating the risk margin. Embedded derivatives within funds withheld related to certain ceded reinsurance These embedded derivatives are principally valued using the income approach. The valuations are based on present value techniques, which utilize significant inputs that may include the swap yield curves and the fair value of assets within the reference portfolio. These embedded derivatives result in Level 3 classification because one or more of the significant inputs are not observable in the market or cannot be derived principally from, or corroborated by, observable market data. Significant unobservable inputs generally include the fair value of certain assets within the reference portfolio which are not observable in the market and cannot be derived principally from, or corroborated by, observable market data. Transfers between Levels Overall, transfers between levels occur when there are changes in the observability of inputs and market activity. Transfers into or out of Level 3: Assets and liabilities are transferred into Level 3 when a significant input cannot be corroborated with market observable data. This occurs when market activity decreases significantly and underlying inputs cannot be observed, current prices are not available, and/or when there are significant variances in quoted prices, thereby affecting transparency. Assets and liabilities are transferred out of Level 3 when circumstances change such that a significant input can be corroborated with market observable data. This may be due to a significant increase in market activity, a specific event, or one or more significant input(s) becoming observable. Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) The following table presents certain quantitative information about the significant unobservable inputs used in the fair value measurement, and the sensitivity of the estimated fair value to changes in those inputs, for the more significant asset and liability classes measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at: June 30, 2021 December 31, 2020 Impact of Valuation Techniques Significant Range Weighted Range Weighted Fixed maturity securities AFS (3) U.S. corporate and foreign corporate • Matrix pricing • Offered quotes (4) 1 - 172 113 — - 186 118 Increase • Market pricing • Quoted prices (4) — - 123 100 — - 116 99 Increase RMBS • Market pricing • Quoted prices (4) — - 147 99 — - 159 98 Increase (5) ABS • Market pricing • Quoted prices (4) 91 - 110 100 1 - 107 100 Increase (5) Derivatives Interest rate • Present value techniques • Swap yield (6) 148 - 228 199 92 - 184 149 Increase (7) • Repurchase rates (8) — - — — (12) - 1 (6) Decrease (7) • Volatility (9) 0% - 1% 0% — - — — Increase (7) Foreign currency exchange rate • Present value techniques • Swap yield (6) — - — — (31) - (13) (20) Increase (7) Credit • Present value techniques • Credit spreads (10) 96 - 128 103 96 - 99 98 Decrease (7) • Consensus pricing • Offered quotes (11) Equity market • Present value techniques or option pricing models • Volatility (12) — - — — 21% - 28% 28% Increase (7) • Correlation (13) 10% - 10% 10% 10% - 30% 10% Embedded derivatives Direct and assumed guaranteed minimum benefits • Option pricing techniques • Mortality rates: Ages 0 - 40 0.01% - 0.12% 0.06% 0.01% - 0.12% 0.06% Decrease (14) Ages 41 - 60 0.05% - 0.65% 0.30% 0.05% - 0.65% 0.30% Decrease (14) Ages 61 - 115 0.31% - 100% 1.90% 0.31% - 100% 1.90% Decrease (14) • Lapse rates: Durations 1 - 10 0.25% - 100% 6.86% 0.25% - 100% 6.86% Decrease (15) Durations 11 - 20 4.70% - 100% 5.18% 4.70% - 100% 5.18% Decrease (15) Durations 21 - 116 2% - 100% 5.18% 2% - 100% 5.18% Decrease (15) • Utilization rates 0% - 22% 0.17% 0% - 22% 0.17% Increase (16) • Withdrawal rates 0.25% - 10% 3.98% 0.25% - 10% 3.98% (17) • Long-term equity volatilities 16.66% - 22.21% 18.70% 16.66% - 22.21% 18.70% Increase (18) • Nonperformance risk spread 0.04% - 0.38% 0.40% 0.04% - 0.39% 0.40% Decrease (19) __________________ (1) The weighted average for fixed maturity securities AFS and derivatives is determined based on the estimated fair value of the securities and derivatives. The weighted average for embedded derivatives is determined based on a combination of account values and experience data. (2) The impact of a decrease in input would have resulted in the opposite impact on estimated fair value. For embedded derivatives, changes to direct and assumed guaranteed minimum benefits are based on liability positions. (3) Significant increases (decreases) in expected default rates in isolation would have resulted in substantially lower (higher) valuations. (4) Range and weighted average are presented in accordance with the market convention for fixed maturity securities AFS of dollars per hundred dollars of par. (5) Changes in the assumptions used for the probability of default would have been accompanied by a directionally similar change in the assumption used for the loss severity and a directionally opposite change in the assumptions used for prepayment rates. (6) Ranges represent the rates across different yield curves and are presented in basis points. The swap yield curves are utilized among different types of derivatives to project cash flows, as well as to discount future cash flows to present value. Since this valuation methodology uses a range of inputs across a yield curve to value the derivative, presenting a range is more representative of the unobservable input used in the valuation. (7) Changes in estimated fair value are based on long U.S. dollar net asset positions and will be inversely impacted for short U.S. dollar net asset positions. (8) Ranges represent different repurchase rates utilized as components within the valuation methodology and are presented in basis points. (9) Ranges represent the underlying interest rate volatility quoted in percentage points. Since this valuation methodology uses an equivalent of LIBOR for secured overnight financing rate volatility, presenting a range is more representative of the unobservable input used in the valuation. (10) Represents the risk quoted in basis points of a credit default event on the underlying instrument. Credit derivatives with significant unobservable inputs are primarily comprised of written credit default swaps. (11) A t both June 30, 2021 and December 31, 2020, independent non-binding broker quotations were used in the determination of less than 1% of the total net derivative estimated fair value. (12) Ranges represent the underlying equity volatility quoted in percentage points. Since this valuation methodology uses a range of inputs across multiple volatility surfaces to value the derivative, presenting a range is more representative of the unobservable input used in the valuation. (13) Ran ges represent the different correlation factors utilized as components within the valuation methodology. Presenting a range of correlation factors is more representative of the unobservable input used in the valuation. Increases (decreases) in correlation in isolation will increase (decrease) the significance of the change in valuations. (14) Mortality rates vary by age and by demographic characteristics such as gender. Mortality rate assumptions are based on company experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. (15) Base lapse rates are adjusted at the contract level based on a comparison of the actuarially calculated guaranteed values and the current policyholder account value, as well as other factors, such as the applicability of any surrender charges. A dynamic lapse function reduces the base lapse rate when the guaranteed amount is greater than the account value as in the money contracts are less likely to lapse. Lapse rates are also generally assumed to be lower in periods when a surrender charge applies. For any given contract, lapse rates vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. (16) The utilization rate assumption estimates the percentage of contractholders with GMIBs or a lifetime withdrawal benefit who will elect to utilize the benefit upon becoming eligible. The rates may vary by the type of guarantee, the amount by which the guaranteed amount is greater than th

Equity

Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Equity	8. Equity Accumulated Other Comprehensive Income (Loss) Information regarding changes in the balances of each component of AOCI attributable to Metropolitan Life Insurance Company was as follows: Three Months Unrealized Investment Gains (Losses), Net of Related Offsets (1) Unrealized Gains (Losses) on Derivatives Foreign Currency Translation Adjustments Defined Benefit Plans Adjustment Total (In millions) Balance, beginning of period $ 8,305 $ 854 $ (29) $ (451) $ 8,679 Other comprehensive income (loss) (“OCI”) before reclassifications 759 859 (6) (2) 1,610 Deferred income tax benefit (expense) (153) (181) 2 — (332) AOCI before reclassifications, net of income tax 8,911 1,532 (33) (453) 9,957 Amounts reclassified from AOCI 35 (142) — 10 (97) Deferred income tax benefit (expense) (8) 29 — (2) 19 Amounts reclassified from AOCI, net of income tax 27 (113) — 8 (78) Balance, end of period $ 8,938 $ 1,419 $ (33) $ (445) $ 9,879 Three Months Unrealized Investment Gains (Losses), Net of Related Offsets (1) Unrealized Gains (Losses) on Derivatives Foreign Currency Translation Adjustments Defined Benefit Plans Adjustment Total (In millions) Balance, beginning of period $ 7,177 $ 4,567 $ (86) $ (367) $ 11,291 OCI before reclassifications 4,447 (415) (25) 4 4,011 Deferred income tax benefit (expense) (956) 87 7 (1) (863) AOCI before reclassifications, net of income tax 10,668 4,239 (104) (364) 14,439 Amounts reclassified from AOCI 41 (317) — 6 (270) Deferred income tax benefit (expense) (8) 66 — (1) 57 Amounts reclassified from AOCI, net of income tax 33 (251) — 5 (213) Balance, end of period $ 10,701 $ 3,988 $ (104) $ (359) $ 14,226 Six Months Unrealized Unrealized Foreign Defined Total (In millions) Balance, beginning of period $ 10,384 $ 1,791 $ (53) $ (460) $ 11,662 OCI before reclassifications (1,900) (401) 24 (2) (2,279) Deferred income tax benefit (expense) 408 84 (4) — 488 AOCI before reclassifications, net of income tax 8,892 1,474 (33) (462) 9,871 Amounts reclassified from AOCI 59 (69) — 21 11 Deferred income tax benefit (expense) (13) 14 — (4) (3) Amounts reclassified from AOCI, net of income tax 46 (55) — 17 8 Balance, end of period $ 8,938 $ 1,419 $ (33) $ (445) $ 9,879 Six Months Unrealized Unrealized Foreign Defined Total (In millions) Balance, beginning of period $ 8,876 $ 1,620 $ (97) $ (374) $ 10,025 OCI before reclassifications 2,228 2,876 (9) 4 5,099 Deferred income tax benefit (expense) (462) (604) 2 (1) (1,065) AOCI before reclassifications, net of income tax 10,642 3,892 (104) (371) 14,059 Amounts reclassified from AOCI 74 122 — 15 211 Deferred income tax benefit (expense) (15) (26) — (3) (44) Amounts reclassified from AOCI, net of income tax 59 96 — 12 167 Balance, end of period $ 10,701 $ 3,988 $ (104) $ (359) $ 14,226 __________________ (1) See Note 5 for information on offsets to investments related to policyholder liabilities, DAC, VOBA and DSI. Information regarding amounts reclassified out of each component of AOCI was as follows: Three Months Six Months 2021 2020 2021 2020 AOCI Components Amounts Reclassified from AOCI Consolidated Statements of (In millions) Net unrealized investment gains (losses): Net unrealized investment gains (losses) $ (19) $ (32) $ (34) $ (58) Net investment gains (losses) Net unrealized investment gains (losses) (4) (2) (7) (8) Net investment income Net unrealized investment gains (losses) (12) (7) (18) (8) Net derivative gains (losses) Net unrealized investment gains (losses), before income tax (35) (41) (59) (74) Income tax (expense) benefit 8 8 13 15 Net unrealized investment gains (losses), net of income tax (27) (33) (46) (59) Unrealized gains (losses) on derivatives - cash flow hedges: Interest rate derivatives 14 9 27 15 Net investment income Interest rate derivatives 19 42 48 48 Net investment gains (losses) Foreign currency exchange rate derivatives 1 — 2 — Net investment income Foreign currency exchange rate derivatives 108 266 (8) (185) Net investment gains (losses) Gains (losses) on cash flow hedges, before income tax 142 317 69 (122) Income tax (expense) benefit (29) (66) (14) 26 Gains (losses) on cash flow hedges, net of income tax 113 251 55 (96) Defined benefit plans adjustment: (1) Amortization of net actuarial gains (losses) (11) (6) (23) (16) Amortization of prior service (costs) credit 1 — 2 1 Amortization of defined benefit plan items, before income tax (10) (6) (21) (15) Income tax (expense) benefit 2 1 4 3 Amortization of defined benefit plan items, net of income tax (8) (5) (17) (12) Total reclassifications, net of income tax $ 78 $ 213 $ (8) $ (167) __________________ (1) These AOCI components are included in the computation of net periodic benefit costs.

Other Revenues and Other Expens

Other Revenues and Other Expenses	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Other Revenues and Other Expenses Disclosure	9. Other Revenues and Other Expenses Other Revenues Information on other revenues, which primarily includes fees related to service contracts from customers, was as follows: Three Months Six Months 2021 2020 2021 2020 (In millions) Prepaid legal plans $ 99 $ 94 $ 199 $ 189 Recordkeeping and administrative services (1) 53 45 105 94 Administrative services-only contracts 54 54 112 110 Other revenue from service contracts from customers 11 9 20 18 Total revenues from service contracts from customers 217 202 436 411 Other (2) 215 201 421 365 Total other revenues $ 432 $ 403 $ 857 $ 776 __________________ (1) Related to products and businesses no longer actively marketed by the Company. (2) Primarily includes reinsurance ceded. See Note 12. Other Expenses Information on other expenses was as follows: Three Months Six Months 2021 2020 2021 2020 (In millions) General and administrative expenses (1) $ 547 $ 537 $ 1,094 $ 1,132 Pension, postretirement and postemployment benefit costs 25 8 58 17 Premium taxes, other taxes, and licenses & fees 93 95 166 192 Commissions and other variable expenses 494 450 982 922 Capitalization of DAC (10) (13) (29) (23) Amortization of DAC and VOBA 32 (16) 72 87 Interest expense on debt 24 26 48 51 Total other expenses $ 1,205 $ 1,087 $ 2,391 $ 2,378 __________________ (1) Includes ($44) million and ($57) million for the three months and six months ended June 30, 2021, respectively, and ($53) million and ($25) million for the three months and six months ended June 30, 2020, respectively, for the net change in cash surrender value of investments in certain life insurance policies, net of premiums paid. Affiliated Expenses See Note 12 for a discussion of affiliated expenses included in the table above.

Income Tax

Income Tax	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Tax	10. Income Tax For the three months and six months ended June 30, 2021, the effective tax rate on income (loss) before provision for income tax was 18% and 15%, respectively. The Company’s effective tax rate for the three months ended June 30, 2021 differed from the U.S. statutory rate primarily due to tax benefits related to non-taxable investment income and tax credits. The Company’s effective tax rate for the six months ended June 30, 2021 differed from the U.S. statutory rate primarily due to tax benefits related to non-taxable investment income, tax credits and the corporate tax deduction for stock compensation. For the three months and six months ended June 30, 2020, the effective tax rate on income (loss) before provision for income tax was 38% and 16%, respectively. The Company’s effective tax rate for the three months ended June 30, 2020 differed from the U.S. statutory rate primarily due to tax benefits related to non-taxable investment income and tax credits. The Company’s effective tax rate for the six months ended June 30, 2020 differed from the U.S. statutory rate primarily due to tax benefits related to non-taxable investment income, tax credits and the finalization of bankruptcy proceedings for a leveraged lease investment.

Contingencies, Commitments and

Contingencies, Commitments and Guarantees	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies, Commitments and Guarantees	11. Contingencies, Commitments and Guarantees Contingencies Litigation The Company is a defendant in a large number of litigation matters. Putative or certified class action litigation and other litigation and claims and assessments against the Company, in addition to those discussed below and those otherwise provided for in the Company’s interim condensed consolidated financial statements, have arisen in the course of the Company’s business, including, but not limited to, in connection with its activities as an insurer, mortgage lending bank, employer, investor, investment advisor, broker-dealer, and taxpayer. The Company also receives and responds to subpoenas or other inquiries seeking a broad range of information from state regulators, including state insurance commissioners; state attorneys general or other state governmental authorities; federal regulators, including the U.S. Securities and Exchange Commission; federal governmental authorities, including congressional committees; and the Financial Industry Regulatory Authority, as well as from local and national regulators and government authorities in jurisdictions outside the United States where the Company conducts business. The issues involved in information requests and regulatory matters vary widely, but can include inquiries or investigations concerning the Company’s compliance with applicable insurance and other laws and regulations. The Company cooperates in these inquiries. In some of the matters, very large and/or indeterminate amounts, including punitive and treble damages, are sought. Modern pleading practice in the United States permits considerable variation in the assertion of monetary damages or other relief. Jurisdictions may permit claimants not to specify the monetary damages sought or may permit claimants to state only that the amount sought is sufficient to invoke the jurisdiction of the trial court. In addition, jurisdictions may permit plaintiffs to allege monetary damages in amounts well exceeding reasonably possible verdicts in the jurisdiction for similar matters. This variability in pleadings, together with the Company’s actual experience in litigating or resolving through settlement numerous claims over an extended period of time, demonstrates to management that the monetary relief which may be specified in a lawsuit or claim bears little relevance to its merits or disposition value. It is not possible to predict the ultimate outcome of all pending investigations and legal proceedings. The Company establishes liabilities for litigation and regulatory loss contingencies when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Liabilities have been established for a number of the matters noted below. In certain circumstances where liabilities have been established there may be coverage under one or more corporate insurance policies, pursuant to which there may be an insurance recovery. Insurance recoveries are recognized as gains when any contingencies relating to the insurance claim have been resolved, which is the earlier of when the gains are realized or realizable. It is possible that some of the matters could require the Company to pay damages or make other expenditures or establish accruals in amounts that could not be reasonably estimated at June 30, 2021. While the potential future charges could be material in the particular quarterly or annual periods in which they are recorded, based on information currently known to management, management does not believe any such charges are likely to have a material effect on the Company’s financial position. Given the large and/or indeterminate amounts sought in certain of these matters and the inherent unpredictability of litigation, it is possible that an adverse outcome in certain matters could, from time to time, have a material effect on the Company’s consolidated net income or cash flows in particular quarterly or annual periods. Matters as to Which an Estimate Can Be Made For some of the matters disclosed below, the Company is able to estimate a reasonably possible range of loss. For matters where a loss is believed to be reasonably possible, but not probable, the Company has not made an accrual. As of June 30, 2021, the Company estimates the aggregate range of reasonably possible losses in excess of amounts accrued for these matters to be $0 to $175 million. Matters as to Which an Estimate Cannot Be Made For other matters disclosed below, the Company is not currently able to estimate the reasonably possible loss or range of loss. The Company is often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the range of possible loss, such as quantification of a damage demand from plaintiffs, discovery from other parties and investigation of factual allegations, rulings by the court on motions or appeals, analysis by experts, and the progress of settlement negotiations. On a quarterly and annual basis, the Company reviews relevant information with respect to litigation contingencies and updates its accruals, disclosures and estimates of reasonably possible losses or ranges of loss based on such reviews. Asbestos-Related Claims Metropolitan Life Insurance Company is and has been a defendant in a large number of asbestos-related suits filed primarily in state courts. These suits principally allege that the plaintiff or plaintiffs suffered personal injury resulting from exposure to asbestos and seek both actual and punitive damages. Metropolitan Life Insurance Company has never engaged in the business of manufacturing, producing, distributing or selling asbestos or asbestos-containing products nor has Metropolitan Life Insurance Company issued liability or workers’ compensation insurance to companies in the business of manufacturing, producing, distributing or selling asbestos or asbestos-containing products. The lawsuits principally have focused on allegations with respect to certain research, publication and other activities of one or more of Metropolitan Life Insurance Company’s employees during the period from the 1920’s through approximately the 1950’s and allege that Metropolitan Life Insurance Company learned or should have learned of certain health risks posed by asbestos and, among other things, improperly publicized or failed to disclose those health risks. Metropolitan Life Insurance Company believes that it should not have legal liability in these cases. The outcome of most asbestos litigation matters, however, is uncertain and can be impacted by numerous variables, including differences in legal rulings in various jurisdictions, the nature of the alleged injury and factors unrelated to the ultimate legal merit of the claims asserted against Metropolitan Life Insurance Company. Metropolitan Life Insurance Company employs a number of resolution strategies to manage its asbestos loss exposure, including seeking resolution of pending litigation by judicial rulings and settling individual or groups of claims or lawsuits under appropriate circumstances. Claims asserted against Metropolitan Life Insurance Company have included negligence, intentional tort and conspiracy concerning the health risks associated with asbestos. Metropolitan Life Insurance Company’s defenses (beyond denial of certain factual allegations) include that: (i) Metropolitan Life Insurance Company owed no duty to the plaintiffs — it had no special relationship with the plaintiffs and did not manufacture, produce, distribute or sell the asbestos products that allegedly injured plaintiffs; (ii) plaintiffs did not rely on any actions of Metropolitan Life Insurance Company; (iii) Metropolitan Life Insurance Company’s conduct was not the cause of the plaintiffs’ injuries; (iv) plaintiffs’ exposure occurred after the dangers of asbestos were known; and (v) the applicable time with respect to filing suit has expired. During the course of the litigation, certain trial courts have granted motions dismissing claims against Metropolitan Life Insurance Company, while other trial courts have denied Metropolitan Life Insurance Company’s motions. There can be no assurance that Metropolitan Life Insurance Company will receive favorable decisions on motions in the future. While most cases brought to date have settled, Metropolitan Life Insurance Company intends to continue to defend aggressively against claims based on asbestos exposure, including defending claims at trials. As reported in the 2020 Annual Report, Metropolitan Life Insurance Company received approximately 2,496 asbestos-related claims in 2020. For the six months ended June 30, 2021 and 2020, Metropolitan Life Insurance Company received approximately 1,304 and 1,121 new asbestos-related claims, respectively. See Note 16 of the Notes to the Consolidated Financial Statements included in the 2020 Annual Report for historical information concerning asbestos claims and Metropolitan Life Insurance Company’s update in its recorded liability at December 31, 2020. The number of asbestos cases that may be brought, the aggregate amount of any liability that Metropolitan Life Insurance Company may incur, and the total amount paid in settlements in any given year are uncertain and may vary significantly from year to year. The ability of Metropolitan Life Insurance Company to estimate its ultimate asbestos exposure is subject to considerable uncertainty, and the conditions impacting its liability can be dynamic and subject to change. The availability of reliable data is limited and it is difficult to predict the numerous variables that can affect liability estimates, including the number of future claims, the cost to resolve claims, the disease mix and severity of disease in pending and future claims, the impact of the number of new claims filed in a particular jurisdiction and variations in the law in the jurisdictions in which claims are filed, the possible impact of tort reform efforts, the willingness of courts to allow plaintiffs to pursue claims against Metropolitan Life Insurance Company when exposure to asbestos took place after the dangers of asbestos exposure were well known, and the impact of any possible future adverse verdicts and their amounts. The ability to make estimates regarding ultimate asbestos exposure declines significantly as the estimates relate to years further in the future. In the Company’s judgment, there is a future point after which losses cease to be probable and reasonably estimable. It is reasonably possible that the Company’s total exposure to asbestos claims may be materially greater than the asbestos liability currently accrued and that future charges to income may be necessary. While the potential future charges could be material in the particular quarterly or annual periods in which they are recorded, based on information currently known by management, management does not believe any such charges are likely to have a material effect on the Company’s financial position. The Company believes adequate provision has been made in its interim condensed consolidated financial statements for all probable and reasonably estimable losses for asbestos-related claims. Metropolitan Life Insurance Company’s recorded asbestos liability is based on its estimation of the following elements, as informed by the facts presently known to it, its understanding of current law and its past experiences: (i) the probable and reasonably estimable liability for asbestos claims already asserted against Metropolitan Life Insurance Company, including claims settled but not yet paid; (ii) the probable and reasonably estimable liability for asbestos claims not yet asserted against Metropolitan Life Insurance Company, but which Metropolitan Life Insurance Company believes are reasonably probable of assertion; and (iii) the legal defense costs associated with the foregoing claims. Significant assumptions underlying Metropolitan Life Insurance Company’s analysis of the adequacy of its recorded liability with respect to asbestos litigation include: (i) the number of future claims; (ii) the cost to resolve claims; and (iii) the cost to defend claims. Metropolitan Life Insurance Company reevaluates on a quarterly and annual basis its exposure from asbestos litigation, including studying its claims experience, reviewing external literature regarding asbestos claims experience in the United States, assessing relevant trends impacting asbestos liability and considering numerous variables that can affect its asbestos liability exposure on an overall or per claim basis. These variables include bankruptcies of other companies involved in asbestos litigation, legislative and judicial developments, the number of pending claims involving serious disease, the number of new claims filed against it and other defendants and the jurisdictions in which claims are pending. Based upon its regular reevaluation of its exposure from asbestos litigation, Metropolitan Life Insurance Company has updated its liability analysis for asbestos-related claims through June 30, 2021. Julian & McKinney v. Metropolitan Life Insurance Company (S.D.N.Y., filed February 9, 2017) Plaintiffs filed this putative class and collective action on behalf of themselves and all current and former long-term disability (“LTD”) claims specialists between February 2011 and the present for alleged wage and hour violations under the Fair Labor Standards Act, the New York Labor Law, and the Connecticut Minimum Wage Act. The suit alleges that Metropolitan Life Insurance Company improperly reclassified the plaintiffs and similarly situated LTD claims specialists from non-exempt to exempt from overtime pay in November 2013. As a result, they and members of the putative class were no longer eligible for overtime pay even though they allege they continued to work more than 40 hours per week. Plaintiffs seek unspecified compensatory and punitive damages, as well as other relief. On March 22, 2018, the court conditionally certified the case as a collective action, requiring that notice be mailed to LTD claims specialists who worked for Metropolitan Life Insurance Company from February 8, 2014 to the present. Metropolitan Life Insurance Company intends to defend this action vigorously. Total Asset Recovery Services, LLC. v. MetLife, Inc., et al. (Supreme Court of the State of New York, County of New York, filed December 27, 2017) Total Asset Recovery Services (the “Relator”) brought an action under the qui tam provision of the New York False Claims Act (the “Act”) on behalf of itself and the State of New York. The Relator originally filed this action under seal in 2010, and the complaint was unsealed on December 19, 2017. The Relator alleges that MetLife, Inc., Metropolitan Life Insurance Company and several other insurance companies violated the Act by filing false unclaimed property reports with the State of New York from 1986 to 2017, to avoid having to escheat the proceeds of more than 25,000 life insurance policies, including policies for which the defendants escheated funds as part of their demutualizations in the late 1990s. The Relator seeks treble damages and other relief. On April 3, 2019, the court granted MetLife, Inc.’s and Metropolitan Life Insurance Company’s motion to dismiss and dismissed the complaint in its entirety. The Relator filed an appeal with the Appellate Division of the New York State Supreme Court, First Department. On December 10, 2020, the Appellate Division reversed the court’s order granting MetLife, Inc. and Metropolitan Life Insurance Company’s motion to dismiss, remanded the case to the trial court, and permitted the Relator’s counsel to file an amended complaint. On March 5, 2021, the Relator filed an amended complaint. The Company intends to defend the action vigorously. Matters Related to Group Annuity Benefits In 2018, the Company announced that it identified a material weakness in its internal control over financial reporting related to the practices and procedures for estimating reserves for certain group annuity benefits. Several regulators have made inquiries into this issue and it is possible that other jurisdictions may pursue similar investigations or inquiries. The Company is also exposed to lawsuits, and could be exposed to additional legal actions relating to this issue. These may result in payments, including damages, fines, penalties, interest and other amounts assessed or awarded by courts or regulatory authorities under applicable escheat, tax, securities, Employee Retirement Income Security Act of 1974, or other laws or regulations. The Company could incur significant costs in connection with these actions. Commitments Mortgage Loan Commitments The Company commits to lend funds under mortgage loan commitments. The amounts of these mortgage loan commitments were $3.2 billion and $2.4 billion at June 30, 2021 and December 31, 2020, respectively. Commitments to Fund Partnership Investments, Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments The Company commits to fund partnership investments and to lend funds under bank credit facilities, bridge loans and private corporate bond investments. The amounts of these unfunded commitments were $4.1 billion and $4.3 billion at June 30, 2021 and December 31, 2020, respectively. Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties such that it may be required to make payments now or in the future. In the context of acquisition, disposition, investment and other transactions, the Company has provided indemnities and guarantees, including those related to tax, environmental and other specific liabilities and other indemnities and guarantees that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company. In addition, in the normal course of business, the Company provides indemnifications to counterparties in contracts with triggers similar to the foregoing, as well as for certain other liabilities, such as third-party lawsuits. These obligations are often subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation. In some cases, the maximum potential obligation under the indemnities and guarantees is subject to a contractual limitation ranging from less than $1 million to $315 million, with a cumulative maximum of $431 million, while in other cases such limitations are not specified or applicable. Since certain of these obligations are not subject to limitations, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future. Management believes that it is unlikely the Company will have to make any material payments under these indemnities, guarantees, or commitments. In addition, the Company indemnifies its directors and officers as provided in its charters and by-laws. Also, the Company indemnifies its agents for liabilities incurred as a result of their representation of the Company’s interests. Since these indemnities are generally not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these indemnities in the future. The Company’s recorded liabilities were $2 million and $3 million at June 30, 2021 and December 31, 2020, respectively, for indemnities, guarantees and commitments.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	12. Related Party Transactions Service Agreements The Company has entered into various agreements with affiliates for services necessary to conduct its activities. Typical services provided under these agreements include personnel, policy administrative functions and distribution services. The bases for such charges are modified and adjusted by management when necessary or appropriate to reflect fairly and equitably the actual cost incurred by the Company and/or its affiliates. Expenses and fees incurred with affiliates related to these agreements, recorded in other expenses, were $593 million and $1.2 billion for the three months and six months ended June 30, 2021, respectively, and $575 million and $1.2 billion for the three months and six months ended June 30, 2020, respectively. Total revenues received from affiliates related to these agreements were $9 million and $21 million for the three months and six months ended June 30, 2021, respectively, and $9 million and $19 million for the three months and six months ended June 30, 2020, respectively. The Company had net payables to affiliates, related to the items discussed above, of $112 million and $198 million at June 30, 2021 and December 31, 2020, respectively. See Note 5 for additional information on related party transactions. Related Party Reinsurance Transactions The Company has reinsurance agreements with certain of MetLife, Inc.’s subsidiaries, including MetLife Reinsurance Company of Charleston (“MRC”), MetLife Reinsurance Company of Vermont, and Metropolitan Tower Life Insurance Company (“MTL”), all of which are related parties. Information regarding the significant effects of affiliated reinsurance on the interim condensed consolidated statements of operations and comprehensive income (loss) was as follows: Three Months Ended Six Months 2021 2020 2021 2020 (In millions) Premiums Reinsurance assumed $ 840 $ 2 $ 842 $ 4 Reinsurance ceded (29) (29) (60) (58) Net premiums $ 811 $ (27) $ 782 $ (54) Universal life and investment-type product policy fees Reinsurance assumed $ — $ — $ — $ — Reinsurance ceded (3) (3) (1) (2) Net universal life and investment-type product policy fees $ (3) $ (3) $ (1) $ (2) Other revenues Reinsurance assumed $ 5 $ — $ 2 $ (9) Reinsurance ceded 142 119 283 251 Net other revenues $ 147 $ 119 $ 285 $ 242 Policyholder benefits and claims Reinsurance assumed $ 831 $ — $ 832 $ 1 Reinsurance ceded (37) (34) (72) (69) Net policyholder benefits and claims $ 794 $ (34) $ 760 $ (68) Interest credited to policyholder account balances Reinsurance assumed $ 7 $ 7 $ 14 $ 14 Reinsurance ceded (3) (3) (6) (6) Net interest credited to policyholder account balances $ 4 $ 4 $ 8 $ 8 Other expenses Reinsurance assumed $ 19 $ — $ 19 $ — Reinsurance ceded 132 119 234 254 Net other expenses $ 151 $ 119 $ 253 $ 254 Information regarding the significant effects of affiliated reinsurance on the interim condensed consolidated balance sheets was as follows at: June 30, 2021 December 31, 2020 Assumed Ceded Assumed Ceded (In millions) Assets Premiums, reinsurance and other receivables $ 17 $ 12,409 $ 1 $ 12,453 Deferred policy acquisition costs and value of business acquired — (142) — (145) Total assets $ 17 $ 12,267 $ 1 $ 12,308 Liabilities Future policy benefits $ 863 $ (11) $ 48 $ (14) Policyholder account balances 118 — 123 — Other policy-related balances 14 3 1 5 Other liabilities 890 12,450 864 12,816 Total liabilities $ 1,885 $ 12,442 $ 1,036 $ 12,807 Effective April 1, 2021, the Company, through its wholly owned subsidiary Missouri Reinsurance Inc., entered into an agreement to assume certain group annuity contracts issued in connection with a qualifying pension risk transfer on a modified coinsurance basis from MTL. The significant effects to the Company were primarily increases in other invested assets of $830 million and future policy benefits of $816 million at June 30, 2021, as well as premiums of $838 million and policyholder benefits and claims of $829 million for both the three months and six months ended June 30, 2021. The Company ceded two blocks of business to an affiliate on a 75% coinsurance with funds withheld basis. Certain contractual features of these agreements qualify as embedded derivatives, which are separately accounted for at estimated fair value on the Company’s consolidated balance sheets. The embedded derivatives related to the funds withheld associated with these reinsurance agreements are included within other liabilities and were $32 million and $45 million at June 30, 2021 and December 31, 2020, respectively. Net derivative gains (losses) associated with these embedded derivatives were ($10) million and $13 million for the three months and six months ended June 30, 2021, respectively, and ($12) million and ($27) million for the three months and six months ended June 30, 2020, respectively. Certain contractual features of the closed block agreement with MRC create an embedded derivative, which is separately accounted for at estimated fair value on the Company’s consolidated balance sheets. The embedded derivative related to the funds withheld associated with this reinsurance agreement was included within other liabilities and was $1.2 billion and $1.4 billion at June 30, 2021 and December 31, 2020, respectively. Net derivative gains (losses) associated with the embedded derivative were ($190) million and $229 million for the three months and six months ended June 30, 2021, respectively, and ($379) million and ($290) million for the three months and six months ended June 30, 2020, respectively.

Business, Basis of Presentati_2

Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported on the interim condensed consolidated financial statements. In applying these policies and estimates, management makes subjective and complex judgments that frequently require assumptions about matters that are inherently uncertain, including uncertainties associated with the novel coronavirus COVID-19 pandemic (the “COVID-19 Pandemic”). Many of these policies, estimates and related judgments are common in the insurance and financial services industries; others are specific to the Company’s business and operations. Actual results could differ from these estimates.
Consolidation of Subsidiaries	The accompanying interim condensed consolidated financial statements are unaudited and reflect all adjustments (including normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in conformity with GAAP. Interim results are not necessarily indicative of full year performance. The December 31, 2020 consolidated balance sheet data was derived from audited consolidated financial statements included in Metropolitan Life Insurance Company’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Annual Report”), which include all disclosures required by GAAP. Therefore, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company included in the 2020 Annual Report. Consolidation The accompanying interim condensed consolidated financial statements include the accounts of Metropolitan Life Insurance Company and its subsidiaries, as well as partnerships and joint ventures in which the Company has control, and variable interest entities (“VIEs”) for which the Company is the primary beneficiary. Intercompany accounts and transactions have been eliminated. The Company uses the equity method of accounting or the fair value option (“FVO”) for real estate joint ventures and other limited partnership interests (“investee”) when it has more than a minor ownership interest or more than a minor influence over the investee’s operations. The Company generally recognizes its share of the investee’s earnings in net investment income on a three-month lag in instances where the investee’s financial information is not sufficiently timely or when the investee’s reporting period differs from the Company’s reporting period. Since the Company is a member of a controlled group of affiliated companies, its results may not be indicative of those of a stand-alone entity.
New Accounting Pronouncements	Adoption of New Accounting Pronouncements The table below describes the impacts of the ASUs recently adopted by the Company. Standard Description Effective Date and Method of Adoption Impact on Financial Statements ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting; as clarified and amended by ASU 2021-01, Reference Rate Reform (Topic 848):Scope The new guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, with certain exceptions. ASU 2021-01 amends the scope of the recent reference rate reform guidance. New optional expedients allow derivative instruments impacted by changes in the interest rate used for margining, discounting, or contract price alignment to qualify for certain optional relief. Effective for contract modifications made between March 12, 2020 and December 31, 2022. The new guidance reduces the operational and financial impacts of contract modifications that replace a reference rate, such as London Interbank Offered Rate (“LIBOR”), affected by reference rate reform. The adoption of the new guidance provides relief from current GAAP and is not expected to have a material impact on the Company’s interim condensed consolidated financial statements. The Company will continue to evaluate the impacts of reference rate reform on contract modifications and hedging relationships through December 31, 2022. ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The new guidance simplifies the accounting for income taxes by removing certain exceptions to the tax accounting guidance and providing clarification to other specific tax accounting guidance to eliminate variations in practice. Specifically, it removes the exceptions related to the a) incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items, b) recognition of a deferred tax liability when foreign investment ownership changes from equity method investment to consolidated subsidiary and vice versa and c) use of interim period tax accounting for year-to-date losses that exceed anticipated losses. The guidance also simplifies the application of the income tax guidance for franchise taxes that are partially based on income and the accounting for tax law changes during interim periods, clarifies the accounting for transactions that result in a step-up in tax basis of goodwill, provides for the option to elect allocation of consolidated income taxes to entities disregarded by taxing authorities for their stand-alone reporting, and requires that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. January 1, 2021. The Company adopted, using a prospective approach. The adoption of the new guidance did not have a material impact on the Company’s interim condensed consolidated financial statements.
Investments	Maturities of Fixed Maturity Securities AFSActual maturities may differ from contractual maturities due to the exercise of call or prepayment options. Fixed maturity securities AFS not due at a single maturity date have been presented in the year of final contractual maturity. Structured Products are shown separately, as they are not due at a single maturity. 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 credit loss evaluation process include, but are not limited to: (i) the extent to which the estimated fair value has been below amortized cost, (ii) adverse conditions specifically related to a security, an industry sector or sub-sector, or an economically depressed geographic area, adverse change in the financial condition of the issuer of the security, changes in technology, discontinuance of a segment of the business that may affect future earnings, and changes in the quality of credit enhancement, (iii) payment structure of the security and likelihood of the issuer being able to make payments, (iv) failure of the issuer to make scheduled interest and principal payments, (v) whether the issuer, or series of issuers or an 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 Products, changes in forecasted cash flows after considering the changes in the financial condition of the underlying loan obligors and 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) changes in the rating of the security by a rating agency, and (ix) other subjective factors, including concentrations and information obtained from regulators. The methodology and significant inputs used to determine the amount of credit loss are as follows: • The Company calculates the recovery value by performing a discounted cash flow analysis based on the present value of future cash flows. The discount rate is generally the effective interest rate of the security at the time of purchase for fixed-rate securities and the spot rate at the date of evaluation of credit loss for floating-rate securities. • When determining collectability and the period over which value is expected to recover, the Company applies considerations utilized in its overall credit loss evaluation process which incorporates information regarding the specific security, fundamentals of the industry and geographic area in which the security issuer operates, and overall macroeconomic conditions. Projected future cash flows are estimated using assumptions derived from management’s single best estimate, the most likely outcome in a range of possible outcomes, after giving consideration to a variety of variables that include, but are not limited to: payment terms of the security; the likelihood that the issuer can service the interest and principal payments; the quality and amount of any credit enhancements; the security’s position within the capital structure of the issuer; possible corporate restructurings or asset sales by the issuer; any private and public sector programs to restructure foreign government securities and municipals; and changes to the rating of the security or the issuer by rating agencies. • Additional considerations are made when assessing the unique features that apply to certain Structured Products including, but not limited to: the quality of underlying collateral, historical performance of the underlying loan obligors, historical rent and vacancy levels, changes in the financial condition of the underlying loan obligors, expected prepayment speeds, current and forecasted loss severity, consideration of the payment terms of the underlying loans or assets backing a particular security, changes in the quality of credit enhancement and the payment priority within the tranche structure of the security. With respect to securities that have attributes of debt and equity (“perpetual hybrid securities”), consideration is given in the credit loss analysis as to whether there has been any deterioration in the credit of the issuer and the likelihood of recovery in value of the securities that are in a severe unrealized loss position. Consideration is also given as to whether any perpetual hybrid securities with an unrealized loss, regardless of credit rating, have deferred any dividend payments. In periods subsequent to the recognition of an initial ACL on a security, the Company reassesses credit loss quarterly. Subsequent increases or decreases in the expected cash flow from the security result in corresponding decreases or increases in the ACL which are recorded within net investment gains (losses); however, the previously recorded ACL is not reduced to an amount below zero. Full or partial write-offs are deducted from the ACL in the period the security, or a portion thereof, is considered uncollectible. Recoveries of amounts previously written off are recorded to the ACL in the period received. When the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost, any ACL is written off and the amortized cost is written down to estimated fair value through a charge within net investment gains (losses), which becomes the new amortized cost of the security. Allowance for Credit Loss Methodology The Company records an allowance for expected lifetime credit loss in an amount that represents the portion of the amortized cost basis of mortgage loans that the Company does not expect to collect, resulting in mortgage loans being presented at the net amount expected to be collected. In determining the Company’s ACL, management: (i) pools mortgage loans that share similar risk characteristics, (ii) considers expected lifetime credit loss over the contractual term of its mortgage loans adjusted for expected prepayments and any extensions, and (iii) considers past events and current and forecasted economic conditions. Each of the Company’s commercial, agricultural and residential mortgage loan portfolio segments are evaluated separately. The ACL is calculated for each mortgage loan portfolio segment based on inputs unique to each loan portfolio segment. On a quarterly basis, mortgage loans within a portfolio segment that share similar risk characteristics, such as internal risk ratings or consumer credit scores, are pooled for calculation of ACL. On an ongoing basis, mortgage loans with dissimilar risk characteristics (i.e., loans with significant declines in credit quality), collateral dependent mortgage loans (i.e., when the borrower is experiencing financial difficulty, including when foreclosure is reasonably possible or probable) and reasonably expected troubled debt restructurings (“TDRs”) (i.e., the Company grants concessions to borrower that is experiencing financial difficulties) are evaluated individually for credit loss. The ACL for loans evaluated individually are established using the same methodologies for all three portfolio segments. For example, the ACL for a collateral dependent loan is established as the excess of amortized cost over the estimated fair value of the loan’s underlying collateral, less selling cost when foreclosure is probable. Accordingly, the change in the estimated fair value of collateral dependent loans, which are evaluated individually for credit loss, is recorded as a change in the ACL which is recorded on a quarterly basis as a charge or credit to earnings in net investment gains (losses). Commercial and Agricultural Mortgage Loan Portfolio Segments Commercial and agricultural mortgage loan ACL are calculated in a similar manner. Within each loan portfolio segment, commercial and agricultural, loans are pooled by internal risk rating. Estimated lifetime loss rates, which vary by internal risk rating, are applied to the amortized cost of each loan, excluding accrued investment income, on a quarterly basis to develop the ACL. Internal risk ratings are based on an assessment of the loan’s credit quality, which can change over time. The estimated lifetime loss rates are based on several loan portfolio segment-specific factors, including (i) the Company’s experience with defaults and loss severity, (ii) expected default and loss severity over the forecast period, (iii) current and forecasted economic conditions including growth, inflation, interest rates and unemployment levels, (iv) loan specific characteristics including loan-to-value (“LTV”) ratios, and (v) internal risk ratings. These evaluations are revised as conditions change and new information becomes available. The Company uses its several decades of historical default and loss severity experience which capture multiple economic cycles. The Company uses a forecast of economic assumptions for a two-year period for most of its commercial and agricultural mortgage loans, while a one-year period is used for loans originated in certain markets. After the applicable forecast period, the Company reverts to its historical loss experience using a straight-line basis over two years. For evaluations of commercial mortgage loans, in addition to historical experience, management considers factors that include the impact of a rapid change to the economy, which may not be reflected in the loan portfolio, recent loss and recovery trend experience as compared to historical loss and recovery experience, and loan specific characteristics including debt service coverage ratios (“DSCR”). In estimating expected lifetime credit loss over the term of its commercial mortgage loans, the Company adjusts for expected prepayment and extension experience during the forecast period using historical prepayment and extension experience considering the expected position in the economic cycle and the loan profile (i.e., floating rate, shorter-term fixed rate and longer-term fixed rate) and after the forecast period using long-term historical prepayment experience. For evaluations of agricultural mortgage loans, in addition to historical experience, management considers factors that include increased stress in certain sectors, which may be evidenced by higher delinquency rates, or a change in the number of higher risk loans. In estimating expected lifetime credit loss over the term of its agricultural mortgage loans, the Company’s experience is much less sensitive to the position in the economic cycle and by loan profile; accordingly, historical prepayment experience is used, while extension terms are not prevalent with the Company’s agricultural mortgage loans. Commercial mortgage loans are reviewed on an ongoing basis, which review includes, but is not limited to, an analysis of the property financial statements and rent roll, lease rollover analysis, property inspections, market analysis, estimated valuations of the underlying collateral, LTV ratios, DSCR and tenant creditworthiness. The monitoring process focuses on higher risk loans, which include those that are classified as restructured, delinquent or in foreclosure, as well as loans with higher LTV ratios and lower DSCR. Agricultural mortgage loans are reviewed on an ongoing basis, which review includes, but is not limited to, property inspections, market analysis, estimated valuations of the underlying collateral, LTV ratios and borrower creditworthiness, as well as reviews on a geographic and property-type basis. The monitoring process for agricultural mortgage loans also focuses on higher risk loans. For commercial mortgage loans, the primary credit quality indicator is the DSCR, which compares a property’s net operating income to amounts needed to service the principal and interest due under the loan. Generally, the lower the DSCR, the higher the risk of experiencing a credit loss. The Company also reviews the LTV ratio of its commercial mortgage loan portfolio. LTV ratios compare the unpaid principal balance of the loan to the estimated fair value of the underlying collateral. Generally, the higher the LTV ratio, the higher the risk of experiencing a credit loss. The DSCR and the values utilized in calculating the ratio are updated routinely. In addition, the LTV ratio is routinely updated for all but the lowest risk loans as part of the Company’s ongoing review of its commercial mortgage loan portfolio. For agricultural mortgage loans, the Company’s primary credit quality indicator is the LTV ratio. The values utilized in calculating this ratio are developed in connection with the ongoing review of the agricultural mortgage loan portfolio and are routinely updated. Commitments to lend: After loans are approved, the Company makes commitments to lend and, typically, borrowers draw down on some or all of the commitments. The timing of mortgage loan funding is based on the commitment expiration dates. A liability for credit loss for unfunded commercial and agricultural mortgage loan commitments is recorded within net investment gains (losses). The liability is based on estimated lifetime loss rates as described above and the amount of the outstanding commitments, which for lines of credit, considers estimated utilization rates. When the commitment is funded or expires, the liability is adjusted accordingly. Residential Mortgage Loan Portfolio Segment The Company’s residential mortgage loan portfolio is comprised primarily of purchased closed end, amortizing residential mortgage loans, including both performing loans purchased within 12 months of origination and reperforming loans purchased after they have been performing for at least 12 months post-modification. Residential mortgage loans are pooled by loan type (i.e., new origination and reperforming) and pooled by similar risk profiles (including consumer credit score and LTV ratios). Estimated lifetime loss rates, which vary by loan type and risk profile, are applied to the amortized cost of each loan excluding accrued investment income on a quarterly basis to develop the ACL. The estimated lifetime loss rates are based on several factors, including (i) industry historical experience and expected results over the forecast period for defaults, (ii) loss severity, (iii) prepayment rates, (iv) current and forecasted economic conditions including growth, inflation, interest rates and unemployment levels, and (v) loan pool specific characteristics including consumer credit scores, LTV ratios, payment history and home prices. These evaluations are revised as conditions change and new information becomes available. The Company uses industry historical experience which captures multiple economic cycles as the Company has purchased most of its residential mortgage loans in the last five years. The Company uses a forecast of economic assumptions for a two-year period for most of its residential mortgage loans. After the applicable forecast period, the Company immediately reverts to industry historical loss experience. For residential mortgage loans, the Company’s primary credit quality indicator is whether the loan is performing or nonperforming. The Company generally defines nonperforming residential mortgage loans as those that are 60 or more days past due and/or in nonaccrual status which is assessed monthly. Generally, nonperforming residential mortgage loans have a higher risk of experiencing a credit loss. Mortgage Loan Concessions In response to the adverse economic impact of the COVID-19 Pandemic, in 2021 and 2020, the Company granted concessions to certain of its commercial, agricultural and residential mortgage loan borrowers, including payment deferrals and other loan modifications. The Company has elected the option under the Coronavirus Aid, Relief, and Economic Security Act, the Consolidated Appropriations Act, 2021 and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised) issued by bank regulatory agencies, not to account for or report qualifying concessions as TDRs and not to classify such loans as either past due or nonaccrual during the payment deferral period. Additionally, in accordance with the FASB’s published response to a COVID-19 Pandemic technical inquiry, the Company continues to accrue interest income on such loans that have deferred payment. The Company records an ACL on this accrued interest income. Commercial
Derivatives	The Company is exposed to various risks relating to its ongoing business operations, including interest rate, foreign currency exchange rate, credit and equity market. The Company uses a variety of strategies to manage these risks, including the use of derivatives.The Company designates and accounts for the following as fair value hedges when they have met the requirements of fair value hedging: (i) interest rate swaps to convert fixed rate assets and liabilities to floating rate assets and liabilities and (ii) foreign currency swaps to hedge the foreign currency fair value exposure of foreign currency denominated assets and liabilities.The Company designates and accounts for the following as cash flow hedges when they have met the requirements of cash flow hedging: (i) interest rate swaps to convert floating rate assets and liabilities to fixed rate assets and liabilities, (ii) foreign currency swaps to hedge the foreign currency cash flow exposure of foreign currency denominated assets and liabilities, (iii) interest rate forwards and credit forwards to lock in the price to be paid for forward purchases of investments, and (iv) interest rate swaps and interest rate forwards to hedge the forecasted purchases of fixed-rate investments. The Company may be exposed to credit-related losses in the event of nonperformance by its counterparties to derivatives. Generally, the current credit exposure of the Company’s derivatives is limited to the net positive estimated fair value of derivatives at the reporting date after taking into consideration the existence of master netting or similar agreements and any collateral received pursuant to such agreements. Derivatives may be exchange-traded or contracted in the over-the-counter (“OTC”) market. Certain of the Company’s OTC derivatives are cleared and settled through central clearinghouses (“OTC-cleared”), while others are bilateral contracts between two counterparties (“OTC-bilateral”). The Company manages its credit risk related to derivatives by entering into transactions with creditworthy counterparties and establishing and monitoring exposure limits. The Company enters into contracts with counterparties in jurisdictions which it understands that close-out netting should be enforceable. The Company’s OTC-bilateral derivative transactions are governed by the International Swaps and Derivatives Association, Inc. (“ISDA”) Master Agreements which provide for legally enforceable set-off and close-out netting of exposures to specific counterparties in the event of early termination of a transaction, which includes, but is not limited to, events of default and bankruptcy. In the event of an early termination, close-out netting permits the Company (subject to financial regulations such as the Orderly Liquidation Authority under Title II of Dodd-Frank) to set off receivables from the counterparty against payables to the same counterparty arising out of all included transactions and to apply collateral to the obligations without application of the automatic stay, upon the counterparty’s bankruptcy. All of the Company’s ISDA Master Agreements also include Credit Support Annex provisions which require both the pledging and accepting of collateral in connection with its OTC-bilateral derivatives as required by applicable law. The Company’s OTC-cleared derivatives are effected through central clearing counterparties and its exchange-traded derivatives are effected through regulated exchanges. Such positions are marked to market and margined on a daily basis (both initial margin and variation margin), and the Company has minimal exposure to credit-related losses in the event of nonperformance by brokers and central clearinghouses to such derivatives. See Note 7 for a description of the impact of credit risk on the valuation of derivatives.
Closed Block	On April 7, 2000 (the “Demutualization Date”), Metropolitan Life Insurance Company converted from a mutual life insurance company to a stock life insurance company and became a wholly-owned subsidiary of MetLife, Inc. The conversion was pursuant to an order by the New York Superintendent of Insurance approving Metropolitan Life Insurance Company’s plan of reorganization, as amended (the “Plan of Reorganization”). On the Demutualization Date, Metropolitan Life Insurance Company established a closed block for the benefit of holders of certain individual life insurance policies of Metropolitan Life Insurance Company. Experience within the closed block, in particular mortality and investment yields, as well as realized and unrealized gains and losses, directly impact the policyholder dividend obligation. Amortization of the closed block DAC, which resides outside of the closed block, is based upon cumulative actual and expected earnings within the closed block. Accordingly, the Company’s net income continues to be sensitive to the actual performance of the closed block.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	Three Months Ended June 30, 2021 U.S. MetLife Corporate Total Adjustments Total (In millions) Revenues Premiums $ 5,760 $ 691 $ — $ 6,451 $ — $ 6,451 Universal life and investment-type product policy fees 274 221 — 495 19 514 Net investment income 1,804 1,400 (28) 3,176 (142) 3,034 Other revenues 222 66 144 432 — 432 Net investment gains (losses) — — — — 342 342 Net derivative gains (losses) — — — — 25 25 Total revenues 8,060 2,378 116 10,554 244 10,798 Expenses Policyholder benefits and claims and policyholder dividends 5,917 1,319 — 7,236 93 7,329 Interest credited to policyholder account balances 346 167 — 513 (1) 512 Capitalization of DAC (10) — — (10) — (10) Amortization of DAC and VOBA 6 38 — 44 (12) 32 Interest expense on debt 1 1 22 24 — 24 Other expenses 813 210 141 1,164 (5) 1,159 Total expenses 7,073 1,735 163 8,971 75 9,046 Provision for income tax expense (benefit) 205 130 (74) 261 47 308 Adjusted earnings $ 782 $ 513 $ 27 1,322 Adjustments to: Total revenues 244 Total expenses (75) Provision for income tax (expense) benefit (47) Net income (loss) $ 1,444 $ 1,444 Three Months Ended June 30, 2020 U.S. MetLife Corporate & Other Total Adjustments Total Consolidated (In millions) Revenues Premiums $ 3,981 $ 740 $ — $ 4,721 $ — $ 4,721 Universal life and investment-type product policy fees 260 198 — 458 21 479 Net investment income 1,339 857 (55) 2,141 (136) 2,005 Other revenues 215 68 120 403 — 403 Net investment gains (losses) — — — — 56 56 Net derivative gains (losses) — — — — (793) (793) Total revenues 5,795 1,863 65 7,723 (852) 6,871 Expenses Policyholder benefits and claims and policyholder dividends 4,106 1,455 — 5,561 108 5,669 Interest credited to policyholder account balances 401 173 — 574 (3) 571 Capitalization of DAC (18) 5 — (13) — (13) Amortization of DAC and VOBA 13 (6) — 7 (23) (16) Interest expense on debt 2 1 23 26 — 26 Other expenses 742 208 137 1,087 3 1,090 Total expenses 5,246 1,836 160 7,242 85 7,327 Provision for income tax expense (benefit) 117 1 (92) 26 (197) (171) Adjusted earnings $ 432 $ 26 $ (3) 455 Adjustments to: Total revenues (852) Total expenses (85) Provision for income tax (expense) benefit 197 Net income (loss) $ (285) $ (285) Six Months Ended June 30, 2021 U.S. MetLife Corporate & Other Total Adjustments Total Consolidated (In millions) Revenues Premiums $ 10,897 $ 1,359 $ — $ 12,256 $ — $ 12,256 Universal life and investment-type product policy fees 561 449 — 1,010 39 1,049 Net investment income 3,651 2,891 (29) 6,513 (292) 6,221 Other revenues 446 124 287 857 — 857 Net investment gains (losses) — — — — 502 502 Net derivative gains (losses) — — — — (990) (990) Total revenues 15,555 4,823 258 20,636 (741) 19,895 Expenses Policyholder benefits and claims and policyholder dividends 11,368 2,583 — 13,951 162 14,113 Interest credited to policyholder account balances 691 334 — 1,025 (2) 1,023 Capitalization of DAC (29) — — (29) — (29) Amortization of DAC and VOBA 22 69 — 91 (19) 72 Interest expense on debt 3 2 43 48 — 48 Other expenses 1,609 431 268 2,308 (8) 2,300 Total expenses 13,664 3,419 311 17,394 133 17,527 Provision for income tax expense (benefit) 393 285 (149) 529 (172) 357 Adjusted earnings $ 1,498 $ 1,119 $ 96 2,713 Adjustments to: Total revenues (741) Total expenses (133) Provision for income tax (expense) benefit 172 Net income (loss) $ 2,011 $ 2,011 Six Months Ended June 30, 2020 U.S. MetLife Corporate & Other Total Adjustments Total Consolidated (In millions) Revenues Premiums $ 8,491 $ 1,478 $ — $ 9,969 $ — $ 9,969 Universal life and investment-type product policy fees 522 442 — 964 43 1,007 Net investment income 2,973 2,023 (125) 4,871 (222) 4,649 Other revenues 429 94 253 776 — 776 Net investment gains (losses) — — — — (126) (126) Net derivative gains (losses) — — — — 2,762 2,762 Total revenues 12,415 4,037 128 16,580 2,457 19,037 Expenses Policyholder benefits and claims and policyholder dividends 8,667 2,852 — 11,519 77 11,596 Interest credited to policyholder account balances 843 346 — 1,189 (7) 1,182 Capitalization of DAC (32) 9 — (23) — (23) Amortization of DAC and VOBA 27 73 — 100 (13) 87 Interest expense on debt 4 3 44 51 — 51 Other expenses 1,536 408 315 2,259 4 2,263 Total expenses 11,045 3,691 359 15,095 61 15,156 Provision for income tax expense (benefit) 292 63 (239) 116 503 619 Adjusted earnings $ 1,078 $ 283 $ 8 1,369 Adjustments to: Total revenues 2,457 Total expenses (61) Provision for income tax (expense) benefit (503) Net income (loss) $ 3,262 $ 3,262 The following table presents total assets with respect to the Company’s segments, as well as Corporate & Other, at: June 30, 2021 December 31, 2020 (In millions) U.S. $ 260,801 $ 262,478 MetLife Holdings 163,479 164,956 Corporate & Other 28,285 30,173 Total $ 452,565 $ 457,607

Insurance (Tables)

Insurance (Tables)	6 Months Ended
	Jun. 30, 2021
Insurance [Abstract]
Guarantees related to Annuity, Universal and Variable Life Contracts	Information regarding the Company’s guarantee exposure, which includes direct business, but excludes offsets from hedging or reinsurance, if any, was as follows at: June 30, 2021 December 31, 2020 In the Event of Death At Annuitization In the Event of Death At Annuitization (Dollars in millions) Annuity Contracts: Variable Annuity Guarantees: Total account value (1), (2) $ 50,525 $ 21,100 $ 50,047 $ 21,229 Separate account value (1) $ 41,273 $ 20,269 $ 40,583 $ 20,368 Net amount at risk $ 1,108 (3) $ 406 (4) $ 1,178 (3) $ 552 (4) Average attained age of contractholders 69 years 68 years 68 years 67 years Other Annuity Guarantees: Total account value (1), (2) N/A $ 138 N/A $ 142 Net amount at risk N/A $ 72 (5) N/A $ 74 (5) Average attained age of contractholders N/A 55 years N/A 55 years June 30, 2021 December 31, 2020 Secondary Guarantees Paid-Up Guarantees Secondary Guarantees Paid-Up Guarantees (Dollars in millions) Universal and Variable Life Contracts: Total account value (1), (2) $ 5,912 $ 842 $ 5,607 $ 861 Net amount at risk (6) $ 38,150 $ 5,350 $ 39,134 $ 5,525 Average attained age of policyholders 58 years 65 years 58 years 65 years __________________ (1) The Company’s annuity and life contracts with guarantees may offer more than one type of guarantee in each contract. Therefore, the amounts listed above may not be mutually exclusive. (2) Includes the contractholder’s investments in the general account and separate account, if applicable. (3) Defined as the death benefit less the total account value, as of the balance sheet date. It represents the amount of the claim that the Company would incur if death claims were filed on all contracts on the balance sheet date and includes any additional contractual claims associated with riders purchased to assist with covering income taxes payable upon death. (4) Defined as the amount (if any) that would be required to be added to the total account value to purchase a lifetime income stream, based on current annuity rates, equal to the minimum amount provided under the guaranteed benefit. This amount represents the Company’s potential economic exposure to such guarantees in the event all contractholders were to annuitize on the balance sheet date, even though the contracts contain terms that allow annuitization of the guaranteed amount only after the 10th anniversary of the contract, which not all contractholders have achieved. (5) Defined as either the excess of the upper tier, adjusted for a profit margin, less the lower tier, as of the balance sheet date or the amount (if any) that would be required to be added to the total account value to purchase a lifetime income stream, based on current annuity rates, equal to the minimum amount provided under the guaranteed benefit. These amounts represent the Company’s potential economic exposure to such guarantees in the event all contractholders were to annuitize on the balance sheet date. (6) Defined as the guarantee amount less the account value, as of the balance sheet date. It represents the amount of the claim that the Company would incur if death claims were filed on all contracts on the balance sheet date.
Liabilities for Unpaid Claims and Claim Expenses	Information regarding the liabilities for unpaid claims and claim adjustment expenses was as follows: Six Months 2021 2020 (In millions) Balance, beginning of period $ 13,523 $ 13,140 Less: Reinsurance recoverables 1,639 1,525 Net balance, beginning of period 11,884 11,615 Incurred related to: Current period 9,917 9,103 Prior periods (1) 436 (69) Total incurred 10,353 9,034 Paid related to: Current period (6,044) (5,588) Prior periods (4,135) (3,277) Total paid (10,179) (8,865) Net balance, end of period 12,058 11,784 Add: Reinsurance recoverables 2,078 1,704 Balance, end of period (included in future policy benefits and other policy-related balances) $ 14,136 $ 13,488 __________________ (1) For the six months ended June 30, 2021, incurred claim activity and claim adjustment expenses associated with prior periods increased due to unfavorable claims experience reported in the current period. For the six months ended June 30, 2020, incurred claim activity and claim adjustment expenses associated with prior periods decreased due to favorable claims experience reported in the current period.

Closed Block (Tables)

Closed Block (Tables)	6 Months Ended
	Jun. 30, 2021
Closed Block Disclosure [Abstract]
Closed block liabilities and assets	Information regarding the closed block liabilities and assets designated to the closed block was as follows at: June 30, 2021 December 31, 2020 (In millions) Closed Block Liabilities Future policy benefits $ 38,373 $ 38,758 Other policy-related balances 271 321 Policyholder dividends payable 340 337 Policyholder dividend obligation 2,115 2,969 Deferred income tax liability 161 130 Other liabilities 276 172 Total closed block liabilities 41,536 42,687 Assets Designated to the Closed Block Investments: Fixed maturity securities available-for-sale, at estimated fair value 26,320 27,186 Mortgage loans 6,447 6,807 Policy loans 4,272 4,355 Real estate and real estate joint ventures 551 559 Other invested assets 506 492 Total investments 38,096 39,399 Cash and cash equivalents 199 — Accrued investment income 386 402 Premiums, reinsurance and other receivables 52 50 Current income tax recoverable 46 28 Total assets designated to the closed block 38,779 39,879 Excess of closed block liabilities over assets designated to the closed block 2,757 2,808 AOCI: Unrealized investment gains (losses), net of income tax 2,911 3,524 Unrealized gains (losses) on derivatives, net of income tax 47 23 Allocated to policyholder dividend obligation, net of income tax (1,671) (2,346) Total amounts included in AOCI 1,287 1,201 Maximum future earnings to be recognized from closed block assets and liabilities $ 4,044 $ 4,009
Closed block policyholder dividend obligation	Information regarding the closed block policyholder dividend obligation was as follows: Six Months Year (In millions) Balance, beginning of period $ 2,969 $ 2,020 Change in unrealized investment and derivative gains (losses) (854) 949 Balance, end of period $ 2,115 $ 2,969
Closed block revenues and expenses	Information regarding the closed block revenues and expenses was as follows: Three Months Six Months 2021 2020 2021 2020 (In millions) Revenues Premiums $ 325 $ 371 $ 645 $ 738 Net investment income 382 371 775 778 Net investment gains (losses) (11) 10 (5) (9) Net derivative gains (losses) 6 (3) 7 23 Total revenues 702 749 1,422 1,530 Expenses Policyholder benefits and claims 520 589 1,066 1,139 Policyholder dividends 173 217 351 436 Other expenses 24 25 49 52 Total expenses 717 831 1,466 1,627 Revenues, net of expenses before provision for income tax expense (benefit) (15) (82) (44) (97) Provision for income tax expense (benefit) (3) (17) (9) (20) Revenues, net of expenses and provision for income tax expense (benefit) $ (12) $ (65) $ (35) $ (77)

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Fixed Maturity Available-for-Sale Securities	The following table presents the fixed maturity securities available-for-sale (“AFS”) by sector. U.S. corporate and foreign corporate sectors include redeemable preferred stock. Residential mortgage-backed securities (“RMBS”) includes agency, prime, alternative and sub-prime mortgage-backed securities. Asset-backed securities (“ABS”) includes securities collateralized by corporate loans and consumer loans. Municipals includes taxable and tax-exempt revenue bonds and, to a much lesser extent, general obligations of states, municipalities and political subdivisions. Commercial mortgage-backed securities (“CMBS”) primarily includes securities collateralized by multiple commercial mortgage loans. RMBS, ABS and CMBS are, collectively, “Structured Products.” June 30, 2021 December 31, 2020 Amortized Gross Unrealized Estimated Amortized Gross Unrealized Estimated Sector Allowance for Gains Losses Allowance for Gains Losses (In millions) U.S. corporate $ 50,805 $ (39) $ 8,023 $ 137 $ 58,652 $ 50,989 $ (43) $ 9,618 $ 155 $ 60,409 Foreign corporate 27,508 (14) 3,423 246 30,671 28,093 (8) 4,478 284 32,279 U.S. government and agency 27,224 — 4,460 104 31,580 24,620 — 6,178 27 30,771 RMBS 21,861 — 1,452 85 23,228 22,552 — 1,706 32 24,226 ABS 11,750 — 160 17 11,893 12,456 — 169 50 12,575 Municipals 6,862 — 1,894 4 8,752 6,888 — 2,096 1 8,983 CMBS 6,402 (6) 337 25 6,708 6,503 — 381 55 6,829 Foreign government 4,257 — 790 51 4,996 4,322 — 978 32 5,268 Total fixed maturity securities AFS $ 156,669 $ (59) $ 20,539 $ 669 $ 176,480 $ 156,423 $ (51) $ 25,604 $ 636 $ 181,340
Available-for-sale fixed maturity securities by contractual maturity date	The amortized cost, net of allowance for credit loss (“ACL”), and estimated fair value of fixed maturity securities AFS, by contractual maturity date, were as follows at June 30, 2021: Due in One Due After Due After Due After Structured Total Fixed (In millions) Amortized cost, net of ACL $ 6,251 $ 26,239 $ 27,280 $ 56,833 $ 40,007 $ 156,610 Estimated fair value $ 6,272 $ 27,461 $ 30,775 $ 70,143 $ 41,829 $ 176,480
Continuous Gross Unrealized Losses for Fixed Maturity Securities Available For Sale	The following table presents the estimated fair value and gross unrealized losses of fixed maturity securities AFS in an unrealized loss position without an ACL by sector and aggregated by length of time that the securities have been in a continuous unrealized loss position. June 30, 2021 December 31, 2020 Less than 12 Months Equal to or Greater Less than 12 Months Equal to or Greater Sector & Credit Quality Estimated Gross Estimated Gross Estimated Gross Estimated Gross (Dollars in millions) U.S. corporate $ 2,548 $ 71 $ 807 $ 61 $ 2,351 $ 112 $ 230 $ 36 Foreign corporate 2,338 147 623 99 2,431 225 34 59 U.S. government and agency 5,963 104 — — 1,686 27 — — RMBS 3,967 69 405 16 1,119 20 128 12 ABS 2,153 5 860 12 2,561 18 2,233 32 Municipals 175 4 3 — 51 1 — — CMBS 476 8 418 17 1,110 41 306 14 Foreign government 281 15 121 35 110 6 115 27 Total fixed maturity securities AFS $ 17,901 $ 423 $ 3,237 $ 240 $ 11,419 $ 450 $ 3,046 $ 180 Investment grade $ 16,396 $ 377 $ 2,233 $ 153 $ 9,012 $ 297 $ 2,841 $ 158 Below investment grade 1,505 46 1,004 87 2,407 153 205 22 Total fixed maturity securities AFS $ 17,901 $ 423 $ 3,237 $ 240 $ 11,419 $ 450 $ 3,046 $ 180 Total number of securities in an 1,209 431 984 385
Disclosure of Mortgage Loans Net of Valuation Allowance	Mortgage loans are summarized as follows at: June 30, 2021 December 31, 2020 Portfolio Segment Carrying % of Carrying % of (Dollars in millions) Commercial $ 36,828 58.7 % $ 38,528 58.0 % Agricultural 15,827 25.2 16,426 24.7 Residential 10,499 16.7 11,803 17.8 Total amortized cost 63,154 100.6 66,757 100.5 Allowance for credit loss (495) (0.8) (517) (0.8) Subtotal mortgage loans, net 62,659 99.8 66,240 99.7 Residential — FVO 140 0.2 165 0.3 Total mortgage loans, net $ 62,799 100.0 % $ 66,405 100.0 %
Allowance for Loan and Lease Losses, Provision for Loss, Net	The changes in the ACL, by portfolio segment, were as follows: Six Months Ended June 30, 2021 2020 Commercial Agricultural Residential Total Commercial Agricultural Residential Total (In millions) Balance, beginning of period $ 199 $ 97 $ 221 $ 517 $ 186 $ 49 $ 54 $ 289 Provision (release) 17 (7) (20) (10) 36 5 59 100 Adoption of credit loss guidance — — — — (87) 32 154 99 Initial credit losses on PCD loans (1) — — 2 2 — — 16 16 Charge-offs, net of recoveries — (13) (1) (14) — (2) (5) (7) Balance, end of period $ 216 $ 77 $ 202 $ 495 $ 135 $ 84 $ 278 $ 497 __________________ (1) Represents the initial credit losses on purchased mortgage loans accounted for as purchased financial assets with credit deterioration (“PCD”).
Schedule of Past Due and Non Accrual Mortgage Loans	The past due and nonaccrual mortgage loans at amortized cost, prior to ACL, by portfolio segment, were as follows: Past Due Greater than 90 Days Past Due Nonaccrual Portfolio Segment June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 (In millions) Commercial $ — $ — $ — $ — $ 154 $ 293 Agricultural 227 251 3 20 259 261 Residential 444 516 2 54 443 503 Total $ 671 $ 767 $ 5 $ 74 $ 856 $ 1,057
Disclosure Real Estate and Real Estate Joint Ventures	Real estate investments, by income type, as well as income earned, were as follows at and for the periods indicated: June 30, 2021 December 31, 2020 Three Months Six Months 2021 2020 2021 2020 Income Type Carrying Value Income (In millions) Leased real estate investments $ 1,990 $ 1,965 $ 53 $ 47 $ 107 $ 93 Other real estate investments 440 418 46 15 80 49 Real estate joint ventures 5,238 5,095 31 (27) 37 (20) Total real estate and real estate joint ventures $ 7,668 $ 7,478 $ 130 $ 35 $ 224 $ 122
Components of net unrealized investment gains (losses) included in accumulated other comprehensive income (loss)	The components of net unrealized investment gains (losses), included in AOCI, were as follows: June 30, 2021 December 31, 2020 (In millions) Fixed maturity securities AFS $ 19,862 $ 24,954 Derivatives 1,789 2,259 Other 221 235 Subtotal 21,872 27,448 Amounts allocated from: Policyholder liabilities (7,402) (10,572) DAC, VOBA and DSI (1,416) (1,511) Subtotal (8,818) (12,083) Deferred income tax benefit (expense) (2,697) (3,190) Net unrealized investment gains (losses) $ 10,357 $ 12,175 The changes in net unrealized investment gains (losses) were as follows: Six Months (In millions) Balance, beginning of period $ 12,175 Unrealized investment gains (losses) during the period (5,576) Unrealized investment gains (losses) relating to: Policyholder liabilities 3,170 DAC, VOBA and DSI 95 Deferred income tax benefit (expense) 493 Balance, end of period $ 10,357 Change in net unrealized investment gains (losses) $ (1,818)
Securities Lending and Repurchase Agreements	A summary of the outstanding securities lending and repurchase agreements is as follows: June 30, 2021 December 31, 2020 Securities (1) Securities (1) Agreement Type Estimated Fair Value Cash Collateral Received from Counterparties (2), (3) Reinvestment Portfolio at Estimated Estimated Fair Value Cash Collateral Received from Counterparties (2), (3) Reinvestment Portfolio at Estimated (In millions) Securities lending $ 14,388 $ 14,659 $ 14,737 $ 13,289 $ 13,566 $ 13,739 Repurchase agreements $ 3,551 $ 3,460 $ 3,497 $ 3,276 $ 3,210 $ 3,251 __________________ (1) Securities on loan in connection with these programs are included within fixed maturity securities AFS and short-term investments. (2) In connection with securities lending and repurchase agreements, in addition to cash collateral received, the Company received from counterparties non-cash security collateral of $27 million and $1 million at June 30, 2021 and December 31, 2020, respectively, which is not reflected on the interim condensed consolidated financial statements. (3) The liability for cash collateral for these programs is included within payables for collateral under securities loaned and other transactions and other liabilities. A summary of the remaining contractual maturities of securities lending and repurchase agreements is as follows: June 30, 2021 December 31, 2020 Remaining Maturities Remaining Maturities Security Type Open (1) 1 Month Over 1 Total Open (1) 1 Month Over 1 Total (In millions) Cash collateral liability by loaned security type: Securities lending: U.S. government and agency $ 3,071 $ 6,485 $ 5,103 $ 14,659 $ 1,705 $ 8,768 $ 3,093 $ 13,566 Repurchase agreements: U.S. government and agency $ — $ 3,460 $ — $ 3,460 $ — $ 3,210 $ — $ 3,210 __________________ (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.
Invested Assets on Deposit and Pledged as Collateral	Invested assets on deposit and pledged as collateral are presented below at estimated fair value for all asset classes, except mortgage loans, which are presented at carrying value at: June 30, 2021 December 31, 2020 (In millions) Invested assets on deposit (regulatory deposits) $ 120 $ 123 Invested assets pledged as collateral (1) 21,682 22,405 Total invested assets on deposit and pledged as collateral $ 21,802 $ 22,528 __________________ (1) The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements, secured debt (see Notes 3 and 11 of the Notes to the Consolidated Financial Statements included in the 2020 Annual Report) and derivative transactions (see Note 6).
Components of Net Investment Income	The components of net investment income were as follows: Three Months Six Months Asset Type 2021 2020 2021 2020 (In millions) Fixed maturity securities AFS $ 1,534 $ 1,636 $ 3,054 $ 3,294 Equity securities 7 5 12 14 Mortgage loans 695 705 1,372 1,423 Policy loans 75 76 149 153 Real estate and real estate joint ventures 130 35 224 122 Other limited partnership interests 689 (391) 1,577 (176) Cash, cash equivalents and short-term investments 2 18 5 61 FVO securities (1) 35 36 61 2 Operating joint venture 16 26 33 47 Other 10 21 45 96 Subtotal investment income 3,193 2,167 6,532 5,036 Less: Investment expenses 159 162 311 387 Net investment income $ 3,034 $ 2,005 $ 6,221 $ 4,649 __________________ (1) Changes in estimated fair value subsequent to purchase of equity-linked notes included within FVO securities, still held at the end of the respective periods and included in net investment income were $33 million and $39 million for the three months and six months ended June 30, 2021, respectively, and $36 million and $2 million for the three months and six months ended June 30, 2020, respectively.
Components of Net Investment Gains (Losses)	The components of net investment gains (losses) were as follows: Three Months Six Months Asset Type 2021 2020 2021 2020 (In millions) Fixed maturity securities AFS $ (6) $ (4) $ (29) $ (85) Equity securities (1) 26 39 45 (97) Mortgage loans (45) (92) 16 (137) Real estate and real estate joint ventures 368 2 416 3 Other limited partnership interests (9) — (14) — Other (2) 19 151 48 181 Subtotal 353 96 482 (135) Change in estimated fair value of other limited partnership interests and real estate joint ventures 6 (13) 14 (12) Non-investment portfolio gains (losses) (17) (27) 6 21 Subtotal (11) (40) 20 9 Total net investment gains (losses) $ 342 $ 56 $ 502 $ (126) __________________ (1) Changes in estimated fair value subsequent to purchase for equity securities still held as of the end of the periods included in net investment gains (losses) were $19 million and $32 million for the three months and six months ended June 30, 2021, respectively, and $31 million and ($92) million for the three months and six months ended June 30, 2020, respectively. (2) Other gains (losses) included de-designated cash flow hedge gains of $19 million and $48 million for the three months and six months ended June 30, 2021, respectively, and $43 million and $55 million for the three months and six months ended June 30, 2020, respectively.
Schedule of Realized Gain (Loss)	Proceeds from sales or disposals and the components of net investment gains (losses) were as shown in the table below: Three Months Six Months 2021 2020 2021 2020 (In millions) Proceeds $ 4,757 $ 5,533 $ 11,844 $ 10,997 Gross investment gains $ 34 $ 185 $ 108 $ 246 Gross investment (losses) (34) (178) (116) (243) Net credit loss (provision) release (6) (11) (21) (88) Net investment gains (losses) $ (6) $ (4) $ (29) $ (85)
Schedule of Related Party Transactions	Invested assets transferred were as follows: Three Months Six Months 2021 2020 2021 2020 (In millions) Estimated fair value of invested assets transferred to affiliates $ 53 $ — $ 303 $ — Amortized cost of invested assets transferred to affiliates $ 51 $ — $ 300 $ — Net investment gains (losses) recognized on transfers $ 2 $ — $ 3 $ — Estimated fair value of invested assets transferred from affiliates $ 165 $ — $ 644 $ — Recurring related party investments and related net investment income were as follows at and for the periods ended: June 30, 2021 December 31, 2020 Three Months Six Months 2021 2020 2021 2020 Investment Type/ Related Party Carrying Value Net Investment Income (In millions) Affiliated investments (1) MetLife, Inc. $ 1,526 $ 1,643 $ 8 $ 9 $ 16 $ 18 Affiliated investments (2) American Life Insurance Company 100 100 — 1 1 2 Affiliated investments (3) Metropolitan Property and Casualty Insurance Company — 315 — 2 1 4 Other invested assets $ 1,626 $ 2,058 $ 8 $ 12 $ 18 $ 24 ________________ (1) Represents an investment in affiliated senior unsecured notes which have maturity dates from July 2021 to October 2029 and bear interest, payable semi-annually, at rates per annum ranging from 1.60% to 3.14%. See Note 7 of the Notes to the Consolidated Financial Statements included in the 2020 Annual Report for further information. In July 2021, ¥38.4 billion (the equivalent of $351 million) of 2.97% affiliated senior unsecured notes matured and were refinanced with the following senior unsecured notes: (i) ¥7.8 billion 1.61% due July 2026, (ii) ¥11.5 billion 1.76% due July 2028 and (iii) ¥19.1 billion 1.85% due July 2031. (2) Represents an affiliated surplus note which matures in June 2025 and bears interest, payable semi-annually, at a rate per annum of 1.88%. (3) The affiliated preferred stock was redeemed at par plus accrued dividends in April 2021.
Commercial Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories	The amortized cost of commercial mortgage loans by credit quality indicator and vintage year was as follows at June 30, 2021: Credit Quality Indicator 2021 2020 2019 2018 2017 Prior Revolving Total % of (Dollars in millions) LTV ratios: Less than 65% $ 1,120 $ 3,255 $ 2,185 $ 3,614 $ 2,681 $ 10,350 $ 1,980 $ 25,185 68.4 % 65% to 75% 515 922 2,873 1,665 1,067 2,176 — 9,218 25.0 76% to 80% 47 — 193 64 388 451 — 1,143 3.1 Greater than 80% 5 — — 49 249 979 — 1,282 3.5 Total $ 1,687 $ 4,177 $ 5,251 $ 5,392 $ 4,385 $ 13,956 $ 1,980 $ 36,828 100.0 % DSCR: > 1.20x $ 1,612 $ 3,662 $ 4,978 $ 5,367 $ 3,883 $ 12,620 $ 1,980 $ 34,102 92.6 % 1.00x - 1.20x 26 259 — 25 133 709 — 1,152 3.1 <1.00x 49 256 273 — 369 627 — 1,574 4.3 Total $ 1,687 $ 4,177 $ 5,251 $ 5,392 $ 4,385 $ 13,956 $ 1,980 $ 36,828 100.0 %
Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories	The amortized cost of residential mortgage loans by credit quality indicator and vintage year was as follows at June 30, 2021: Credit Quality Indicator 2021 2020 2019 2018 2017 Prior Revolving Total % of (Dollars in millions) Performance indicators: Performing $ 1 $ 239 $ 1,170 $ 698 $ 270 $ 7,677 $ — $ 10,055 95.8 % Nonperforming (1) — 1 50 13 2 378 — 444 4.2 Total $ 1 $ 240 $ 1,220 $ 711 $ 272 $ 8,055 $ — $ 10,499 100.0 % __________________ (1) Includes residential mortgage loans in process of foreclosure of $82 million and $102 million at June 30, 2021 and December 31, 2020, respectively.
Agricultural Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories	The amortized cost of agricultural mortgage loans by credit quality indicator and vintage year was as follows at June 30, 2021: Credit Quality Indicator 2021 2020 2019 2018 2017 Prior Revolving Total % of (Dollars in millions) LTV ratios: Less than 65% $ 498 $ 2,311 $ 1,781 $ 2,536 $ 937 $ 5,345 $ 846 $ 14,254 90.1 % 65% to 75% 152 343 137 42 37 578 97 1,386 8.7 76% to 80% — — — — — 11 — 11 0.1 Greater than 80% — — 134 — — 42 — 176 1.1 Total $ 650 $ 2,654 $ 2,052 $ 2,578 $ 974 $ 5,976 $ 943 $ 15,827 100.0 %
Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Variable Interest Entities	The following table presents the total assets and total liabilities relating to investment-related VIEs for which the Company has concluded that it is the primary beneficiary and which are consolidated at: June 30, 2021 December 31, 2020 Asset Type Total Total Total Total (In millions) Real estate joint ventures (1) $ 1,150 $ — $ 1,435 $ — Investment fund (primarily mortgage loans) (2) 210 — 201 — Other investments (3) 103 1 4 5 Renewable energy partnership (4) 82 — 87 — Total $ 1,545 $ 1 $ 1,727 $ 5 __________________ (1) The Company’s investment in affiliated real estate joint ventures was $1.0 billion and $1.3 billion at June 30, 2021 and December 31, 2020, respectively. Other affiliates’ investments in these affiliated real estate joint ventures were $126 million and $130 million at June 30, 2021 and December 31, 2020, respectively. (2) The Company’s investment in this affiliated investment fund was $172 million and $164 million at June 30, 2021 and December 31, 2020, respectively. An affiliate had an investment in this affiliated investment fund of $38 million and $37 million at June 30, 2021 and December 31, 2020, respectively. (3) Assets of other investments primarily consisted of cash and cash equivalents, other invested assets and other assets at June 30, 2021, and cash and cash equivalents at December 31, 2020. (4) Assets of the renewable energy partnership primarily consisted of other invested assets.
Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Variable Interest Entities	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: June 30, 2021 December 31, 2020 Asset Type Carrying Maximum Carrying Maximum (In millions) Fixed maturity securities AFS (2) $ 42,521 $ 42,521 $ 43,708 $ 43,708 Other limited partnership interests 6,754 9,935 5,247 8,589 Other invested assets 1,544 1,698 1,436 1,517 Real estate joint ventures 19 22 18 21 Total $ 50,838 $ 54,176 $ 50,409 $ 53,835 __________________ (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. For certain of its investments in other invested assets, the Company’s return is in the form of income tax credits which are guaranteed by creditworthy third-parties. For such investments, the maximum exposure to loss is equal to the carrying amounts plus any unfunded commitments, reduced by income tax credits guaranteed by third-parties of $3 million at both June 30, 2021 and December 31, 2020. Such a maximum loss would be expected to occur only upon bankruptcy of the issuer or investee. (2) For variable interests in Structured Products included within fixed maturity securities AFS, 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.

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Primary Risks Managed by Derivatives	The following table presents the primary underlying risk exposure, gross notional amount, and estimated fair value of the Company’s derivatives, excluding embedded derivatives, held at: June 30, 2021 December 31, 2020 Primary Underlying Risk Exposure Gross Notional Amount Estimated Fair Value Gross Notional Amount Estimated Fair Value Assets Liabilities Assets Liabilities (In millions) Derivatives Designated as Hedging Instruments: Fair value hedges: Interest rate swaps Interest rate $ 3,571 $ 2,165 $ 3 $ 3,175 $ 3,224 $ 4 Foreign currency swaps Foreign currency exchange rate 868 3 58 1,049 5 76 Subtotal 4,439 2,168 61 4,224 3,229 80 Cash flow hedges: Interest rate swaps Interest rate 4,129 5 — 4,400 14 — Interest rate forwards Interest rate 4,103 69 18 5,081 489 — Foreign currency swaps Foreign currency exchange rate 29,946 1,109 1,100 28,017 1,102 1,353 Subtotal 38,178 1,183 1,118 37,498 1,605 1,353 Total qualifying hedges 42,617 3,351 1,179 41,722 4,834 1,433 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate swaps Interest rate 23,720 3,457 4 30,512 3,041 7 Interest rate floors Interest rate 12,201 241 — 12,701 350 — Interest rate caps Interest rate 75,364 60 — 40,104 13 — Interest rate futures Interest rate 775 — 1 406 — — Interest rate options Interest rate 11,316 404 11 15,337 174 — Interest rate forwards Interest rate 265 — 33 265 — 9 Interest rate total return swaps Interest rate 1,048 15 22 1,048 — 59 Synthetic GICs Interest rate 11,405 — — 11,739 — — Foreign currency swaps Foreign currency exchange rate 4,750 255 170 5,596 292 238 Foreign currency forwards Foreign currency exchange rate 1,411 25 1 1,236 9 18 Credit default swaps — purchased Credit 918 11 5 886 8 9 Credit default swaps — written Credit 6,674 122 6 6,961 126 — Equity futures Equity market 1,614 — 2 2,591 — 16 Equity index options Equity market 27,724 594 172 19,601 459 189 Equity variance swaps Equity market 425 12 10 425 11 9 Equity total return swaps Equity market 1,835 1 54 2,542 1 274 Total non-designated or nonqualifying derivatives 181,445 5,197 491 151,950 4,484 828 Total $ 224,062 $ 8,548 $ 1,670 $ 193,672 $ 9,318 $ 2,261
The Effects of Derivatives on the Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)	The following table presents the interim condensed consolidated financial statement location and amount of gain (loss) recognized on fair value, cash flow, nonqualifying hedging relationships and embedded derivatives Three Months Ended June 30, 2021 Net Net Net Policyholder Interest Credited to Policyholder Account Balances OCI (In millions) Gain (Loss) on Fair Value Hedges: Interest rate derivatives: Derivatives designated as hedging instruments (1) $ — $ — $ — $ 237 $ — N/A Hedged items 1 — — (242) — N/A Foreign currency exchange rate derivatives: Derivatives designated as hedging instruments (1) (2) — — — — N/A Hedged items 2 — — — — N/A Subtotal 1 — — (5) — N/A Gain (Loss) on Cash Flow Hedges: Interest rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A $ 508 Amount of gains (losses) reclassified from AOCI into income 14 19 — — — (33) Foreign currency exchange rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A 351 Amount of gains (losses) reclassified from AOCI into income 1 108 — — — (109) Foreign currency transaction gains (losses) on hedged items — (106) — — — — Credit derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A — Subtotal 15 21 — — — 717 Gain (Loss) on Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate derivatives (1) — — 358 — — N/A Foreign currency exchange rate derivatives (1) — — 24 — — N/A Credit derivatives — purchased (1) — — (8) — — N/A Credit derivatives — written (1) — — 22 — — N/A Equity derivatives (1) (1) — (270) (92) — N/A Foreign currency transaction gains (losses) on hedged items — — (9) — — N/A Subtotal (1) — 117 (92) — N/A Earned income on derivatives 32 — 160 51 (38) — Embedded derivatives (2) N/A N/A (252) — N/A N/A Total $ 47 $ 21 $ 25 $ (46) $ (38) $ 717 Three Months Ended June 30, 2020 Net Investment Income Net Investment Gains (Losses) Net Derivative Gains (Losses) Policyholder Benefits and Claims Interest Credited to Policyholder Account Balances OCI (In millions) Gain (Loss) on Fair Value Hedges: Interest rate derivatives: Derivatives designated as hedging instruments (1) $ (1) $ — $ — $ (31) $ — N/A Hedged items 4 — — 17 — N/A Foreign currency exchange rate derivatives: Derivatives designated as hedging instruments (1) (5) — — — — N/A Hedged items 4 — — — — N/A Subtotal 2 — — (14) — N/A Gain (Loss) on Cash Flow Hedges: Interest rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A $ (110) Amount of gains (losses) reclassified from AOCI into income 9 42 — — — (51) Foreign currency exchange rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A (305) Amount of gains (losses) reclassified from AOCI into income — 266 — — — (266) Foreign currency transaction gains (losses) on hedged items — (223) — — — — Credit derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A — Subtotal 9 85 — — — (732) Gain (Loss) on Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate derivatives (1) (2) — (57) — — N/A Foreign currency exchange rate derivatives (1) — — (85) — — N/A Credit derivatives — purchased (1) — — (19) — — N/A Credit derivatives — written (1) — — 121 — — N/A Equity derivatives (1) — — (783) (78) — N/A Foreign currency transaction gains (losses) on hedged items — — (28) — — N/A Subtotal (2) — (851) (78) — N/A Earned income on derivatives 74 — 144 43 (38) — Embedded derivatives (2) N/A N/A (86) — N/A N/A Total $ 83 $ 85 $ (793) $ (49) $ (38) $ (732) Six Months Ended June 30, 2021 Net Net Net Policyholder Interest Credited to Policyholder Account Balances OCI (In millions) Gain (Loss) on Fair Value Hedges: Interest rate derivatives: Derivatives designated as hedging instruments (1) $ 3 $ — $ — $ (365) $ — N/A Hedged items (2) — — 331 — N/A Foreign currency exchange rate derivatives: Derivatives designated as hedging instruments (1) 11 — — — — N/A Hedged items (10) — — — — N/A Subtotal 2 — — (34) — N/A Gain (Loss) on Cash Flow Hedges: Interest rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A $ (703) Amount of gains (losses) reclassified from AOCI into income 27 48 — — — (75) Foreign currency exchange rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A 302 Amount of gains (losses) reclassified from AOCI into income 2 (8) — — — 6 Foreign currency transaction gains (losses) on hedged items — 4 — — — — Credit derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A — Subtotal 29 44 — — — (470) Gain (Loss) on Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate derivatives (1) 2 — (1,187) — — N/A Foreign currency exchange rate derivatives (1) — — 43 — — N/A Credit derivatives — purchased (1) — — 4 — — N/A Credit derivatives — written (1) — — 21 — — N/A Equity derivatives (1) (2) — (827) (182) — N/A Foreign currency transaction gains (losses) on hedged items — — (12) — — N/A Subtotal — — (1,958) (182) — N/A Earned income on derivatives 78 — 334 102 (77) — Embedded derivatives (2) N/A N/A 634 — N/A N/A Total $ 109 $ 44 $ (990) $ (114) $ (77) $ (470) Six Months Ended June 30, 2020 Net Investment Income Net Investment Gains (Losses) Net Derivative Gains (Losses) Policyholder Benefits and Claims Interest Credited to Policyholder Account Balances OCI (In millions) Gain (Loss) on Fair Value Hedges: Interest rate derivatives: Derivatives designated as hedging instruments (1) $ (11) $ — $ — $ 743 $ — N/A Hedged items 8 — — (752) — N/A Foreign currency exchange rate derivatives: Derivatives designated as hedging instruments (1) 64 — — — — N/A Hedged items (58) — — — — N/A Subtotal 3 — — (9) — N/A Gain (Loss) on Cash Flow Hedges: Interest rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A $ 1,892 Amount of gains (losses) reclassified from AOCI into income 15 48 — — — (63) Foreign currency exchange rate derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A 984 Amount of gains (losses) reclassified from AOCI into income — (185) — — — 185 Foreign currency transaction gains (losses) on hedged items — 234 — — — — Credit derivatives: (1) Amount of gains (losses) deferred in AOCI N/A N/A N/A N/A N/A — Subtotal 15 97 — — — 2,998 Gain (Loss) on Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate derivatives (1) (6) — 3,337 — — N/A Foreign currency exchange rate derivatives (1) — — 289 — — N/A Credit derivatives — purchased (1) — — 26 — — N/A Credit derivatives — written (1) — — (113) — — N/A Equity derivatives (1) — — 298 53 — N/A Foreign currency transaction gains (losses) on hedged items — — (140) — — N/A Subtotal (6) — 3,697 53 — N/A Earned income on derivatives 156 — 224 81 (82) — Embedded derivatives (2) N/A N/A (1,159) — N/A N/A Total $ 168 $ 97 $ 2,762 $ 125 $ (82) $ 2,998 __________________ (1) Excludes earned income on derivatives. (2) The valuation of guaranteed minimum benefits includes a nonperformance risk adjustment. The amounts included in net derivative gains (losses) in connection with this adjustment we re $3 million and
Fair Value Hedges	The following table presents the balance sheet classification, carrying amount and cumulative fair value hedging adjustments for items designated and qualifying as hedged items in fair value hedges: Balance Sheet Line Item Carrying Amount of the Cumulative Amount June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 (In millions) Fixed maturity securities AFS $ 408 $ 461 $ (1) $ (1) Mortgage loans $ 766 $ 925 $ (1) $ 20 Future policy benefits $ (4,715) $ (5,512) $ (969) $ (1,307) __________________ (1) Includes ($181) million and ($1) million of hedging adjustments on discontinued hedging relationships at June 30, 2021 and December 31, 2020, respectively.
Schedule of estimated fair value, maximum amount of future payments and weighted average years to maturity of written credit default swaps	The following table presents the estimated fair value, maximum amount of future payments and weighted average years to maturity of written credit default swaps at: June 30, 2021 December 31, 2020 Rating Agency Designation of Referenced Estimated Maximum Weighted Estimated Maximum Weighted (Dollars in millions) Aaa/Aa/A Single name credit default swaps (3) $ — $ 20 1.7 $ — $ 54 0.6 Credit default swaps referencing indices 24 1,779 2.0 27 1,779 2.5 Subtotal 24 1,799 2.0 27 1,833 2.4 Baa Single name credit default swaps (3) 1 105 2.4 2 174 2.1 Credit default swaps referencing indices 96 4,735 5.2 97 4,954 5.3 Subtotal 97 4,840 5.2 99 5,128 5.2 Ba Credit default swaps referencing indices (1) 20 4.5 — — — Subtotal (1) 20 4.5 — — — Caa3 Credit default swaps referencing indices (4) 15 4.5 — — — Subtotal (4) 15 4.5 — — — Total $ 116 $ 6,674 4.3 $ 126 $ 6,961 4.5 __________________ (1) The rating agency designations are based on availability and the midpoint of the applicable ratings among Moody’s Investors Service (“Moody’s”), S&P Global Ratings (“S&P”) and Fitch Ratings. If no rating is available from a rating agency, then an internally developed rating is used. (2) The weighted average years to maturity of the credit default swaps is calculated based on weighted average gross notional amounts. (3) Single name credit default swaps may be referenced to the credit of corporations, foreign governments, or municipals.
Estimated Fair Value of Derivative Assets and Liabilities after Master Netting Agreements and Cash Collateral	The estimated fair values of the Company’s net derivative assets and net derivative liabilities after the application of master netting agreements and collateral were as follows at: June 30, 2021 December 31, 2020 Derivatives Subject to a Master Netting Arrangement or a Similar Arrangement Assets Liabilities Assets Liabilities (In millions) Gross estimated fair value of derivatives: OTC-bilateral (1) $ 8,518 $ 1,653 $ 9,244 $ 2,192 OTC-cleared (1) 114 4 139 6 Exchange-traded — 3 — 16 Total gross estimated fair value of derivatives presented on the interim condensed consolidated balance sheets (1) 8,632 1,660 9,383 2,214 Gross amounts not offset on the interim condensed consolidated balance sheets: Gross estimated fair value of derivatives: (2) OTC-bilateral (1,615) (1,615) (1,996) (1,996) OTC-cleared — — (5) (5) Cash collateral: (3), (4) OTC-bilateral (5,679) — (6,073) — OTC-cleared (97) — (98) — Securities collateral: (5) OTC-bilateral (1,151) (38) (1,115) (188) OTC-cleared — (4) — (1) Exchange-traded — (3) — (16) Net amount after application of master netting agreements and collateral $ 90 $ — $ 96 $ 8 __________________ (1) At June 30, 2021 and December 31, 2020, derivative assets included income (expense) accruals reported in accrued investment income or in other liabilities of $84 million and $65 million, respectively, and derivative liabilities included (income) expense accruals reported in accrued investment income or in other liabilities of ($10) million and ($47) million, respectively. (2) Estimated fair value of derivatives is limited to the amount that is subject to set-off and includes income or expense accruals. (3) Cash collateral received by the Company for OTC-bilateral and OTC-cleared derivatives, where the centralized clearinghouse treats variation margin as collateral, is included in cash and cash equivalents, short-term investments or in fixed maturity securities AFS, and the obligation to return it is included in payables for collateral under securities loaned and other transactions on the balance sheet. (4) The receivable for the return of cash collateral provided by the Company is inclusive of initial margin on exchange-traded and OTC-cleared derivatives and is included in premiums, reinsurance and other receivables on the balance sheet. The amount of cash collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreements. At June 30, 2021 and December 31, 2020, the Company received excess cash collateral of $37 million and $175 million, respectively, and provided no excess cash collateral. (5) Securities collateral received by the Company is held in separate custodial accounts and is not recorded on the balance sheet. Subject to certain constraints, the Company is permitted by contract to sell or re-pledge this collateral, but at June 30, 2021, none of the collateral had been sold or re-pledged. Securities collateral pledged by the Company is reported in fixed maturity securities AFS on the balance sheet. Subject to certain constraints, the counterparties are permitted by contract to sell or re-pledge this collateral. The amount of securities collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreements and cash collateral. At June 30, 2021 and December 31, 2020, the Company received excess securities collateral with an estimated fair value of $29 million and $150 million, respectively, for its OTC-bilateral derivatives, which are not included in the table above due to the foregoing limitation. At June 30, 2021 and December 31, 2020, the Company provided excess securities collateral with an estimated fair value of $32 million and $185 million, respectively, for its OTC-bilateral derivatives, $746 million and $1.4 billion, respectively, for its OTC-cleared derivatives, and $96 million and $188 million, respectively, for its exchange-traded derivatives, which are not included in the table above due to the foregoing limitation.
Estimated Fair Value of Derivative Assets and Liabilities after Master Netting Agreements and Cash Collateral	The estimated fair values of the Company’s net derivative assets and net derivative liabilities after the application of master netting agreements and collateral were as follows at: June 30, 2021 December 31, 2020 Derivatives Subject to a Master Netting Arrangement or a Similar Arrangement Assets Liabilities Assets Liabilities (In millions) Gross estimated fair value of derivatives: OTC-bilateral (1) $ 8,518 $ 1,653 $ 9,244 $ 2,192 OTC-cleared (1) 114 4 139 6 Exchange-traded — 3 — 16 Total gross estimated fair value of derivatives presented on the interim condensed consolidated balance sheets (1) 8,632 1,660 9,383 2,214 Gross amounts not offset on the interim condensed consolidated balance sheets: Gross estimated fair value of derivatives: (2) OTC-bilateral (1,615) (1,615) (1,996) (1,996) OTC-cleared — — (5) (5) Cash collateral: (3), (4) OTC-bilateral (5,679) — (6,073) — OTC-cleared (97) — (98) — Securities collateral: (5) OTC-bilateral (1,151) (38) (1,115) (188) OTC-cleared — (4) — (1) Exchange-traded — (3) — (16) Net amount after application of master netting agreements and collateral $ 90 $ — $ 96 $ 8 __________________ (1) At June 30, 2021 and December 31, 2020, derivative assets included income (expense) accruals reported in accrued investment income or in other liabilities of $84 million and $65 million, respectively, and derivative liabilities included (income) expense accruals reported in accrued investment income or in other liabilities of ($10) million and ($47) million, respectively. (2) Estimated fair value of derivatives is limited to the amount that is subject to set-off and includes income or expense accruals. (3) Cash collateral received by the Company for OTC-bilateral and OTC-cleared derivatives, where the centralized clearinghouse treats variation margin as collateral, is included in cash and cash equivalents, short-term investments or in fixed maturity securities AFS, and the obligation to return it is included in payables for collateral under securities loaned and other transactions on the balance sheet. (4) The receivable for the return of cash collateral provided by the Company is inclusive of initial margin on exchange-traded and OTC-cleared derivatives and is included in premiums, reinsurance and other receivables on the balance sheet. The amount of cash collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreements. At June 30, 2021 and December 31, 2020, the Company received excess cash collateral of $37 million and $175 million, respectively, and provided no excess cash collateral. (5) Securities collateral received by the Company is held in separate custodial accounts and is not recorded on the balance sheet. Subject to certain constraints, the Company is permitted by contract to sell or re-pledge this collateral, but at June 30, 2021, none of the collateral had been sold or re-pledged. Securities collateral pledged by the Company is reported in fixed maturity securities AFS on the balance sheet. Subject to certain constraints, the counterparties are permitted by contract to sell or re-pledge this collateral. The amount of securities collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreements and cash collateral. At June 30, 2021 and December 31, 2020, the Company received excess securities collateral with an estimated fair value of $29 million and $150 million, respectively, for its OTC-bilateral derivatives, which are not included in the table above due to the foregoing limitation. At June 30, 2021 and December 31, 2020, the Company provided excess securities collateral with an estimated fair value of $32 million and $185 million, respectively, for its OTC-bilateral derivatives, $746 million and $1.4 billion, respectively, for its OTC-cleared derivatives, and $96 million and $188 million, respectively, for its exchange-traded derivatives, which are not included in the table above due to the foregoing limitation.
Estimated Fair Value of OTC-bilateral derivatives after considering effect of netting agreements	The following table presents the estimated fair value of the Company’s OTC-bilateral derivatives that were in a net liability position after considering the effect of netting agreements, together with the estimated fair value and balance sheet location of the collateral pledged. Derivatives Subject to Financial June 30, 2021 December 31, 2020 (In millions) Estimated fair value of derivatives in a net liability position (1) $ 39 $ 196 Estimated fair value of collateral provided: Fixed maturity securities AFS $ 53 $ 239 __________________ (1) After taking into consideration the existence of netting agreements. The following table presents the estimated fair value and balance sheet location of the Company’s embedded derivatives that have been separated from their host contracts at: Balance Sheet Location June 30, 2021 December 31, 2020 (In millions) Embedded derivatives within liability host contracts: Direct guaranteed minimum benefits Policyholder account balances $ 159 $ 488 Assumed guaranteed minimum benefits Policyholder account balances 4 5 Funds withheld on ceded reinsurance (including affiliated) Other liabilities 1,186 1,428 Fixed annuities with equity indexed returns Policyholder account balances 162 139 Other guarantees Policyholder account balances — 1 Embedded derivatives within liability host contracts $ 1,511 $ 2,061
Embedded Derivatives	The following table presents the estimated fair value of the Company’s OTC-bilateral derivatives that were in a net liability position after considering the effect of netting agreements, together with the estimated fair value and balance sheet location of the collateral pledged. Derivatives Subject to Financial June 30, 2021 December 31, 2020 (In millions) Estimated fair value of derivatives in a net liability position (1) $ 39 $ 196 Estimated fair value of collateral provided: Fixed maturity securities AFS $ 53 $ 239 __________________ (1) After taking into consideration the existence of netting agreements. The following table presents the estimated fair value and balance sheet location of the Company’s embedded derivatives that have been separated from their host contracts at: Balance Sheet Location June 30, 2021 December 31, 2020 (In millions) Embedded derivatives within liability host contracts: Direct guaranteed minimum benefits Policyholder account balances $ 159 $ 488 Assumed guaranteed minimum benefits Policyholder account balances 4 5 Funds withheld on ceded reinsurance (including affiliated) Other liabilities 1,186 1,428 Fixed annuities with equity indexed returns Policyholder account balances 162 139 Other guarantees Policyholder account balances — 1 Embedded derivatives within liability host contracts $ 1,511 $ 2,061

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Recurring Fair Value Measurements	The assets and liabilities measured at estimated fair value on a recurring basis and their corresponding placement in the fair value hierarchy, including those items for which the Company has elected the FVO, are presented below at: June 30, 2021 Fair Value Hierarchy Level 1 Level 2 Level 3 Total Estimated Fair Value (In millions) Assets Fixed maturity securities AFS: U.S. corporate $ — $ 52,282 $ 6,370 $ 58,652 Foreign corporate — 22,936 7,735 30,671 U.S. government and agency 16,084 15,496 — 31,580 RMBS 111 19,942 3,175 23,228 ABS — 10,542 1,351 11,893 Municipals — 8,752 — 8,752 CMBS — 6,403 305 6,708 Foreign government — 4,985 11 4,996 Total fixed maturity securities AFS 16,195 141,338 18,947 176,480 Short-term investments 1,838 217 77 2,132 Residential mortgage loans — FVO — — 140 140 Other investments 407 200 724 1,331 Derivative assets: (1) Interest rate — 6,343 73 6,416 Foreign currency exchange rate — 1,392 — 1,392 Credit — 110 23 133 Equity market — 607 — 607 Total derivative assets — 8,452 96 8,548 Separate account assets (2) 29,952 96,816 1,110 127,878 Total assets (3) $ 48,392 $ 247,023 $ 21,094 $ 316,509 Liabilities Derivative liabilities: (1) Interest rate $ 1 $ 40 $ 51 $ 92 Foreign currency exchange rate — 1,329 — 1,329 Credit — 5 6 11 Equity market 2 236 — 238 Total derivative liabilities 3 1,610 57 1,670 Embedded derivatives within liability host contracts (4) — — 1,511 1,511 Separate account liabilities (2) 5 10 5 20 Total liabilities $ 8 $ 1,620 $ 1,573 $ 3,201 December 31, 2020 Fair Value Hierarchy Level 1 Level 2 Level 3 Total Estimated Fair Value (In millions) Assets Fixed maturity securities AFS: U.S. corporate $ — $ 53,717 $ 6,692 $ 60,409 Foreign corporate — 24,098 8,181 32,279 U.S. government and agency 12,697 18,074 — 30,771 RMBS — 21,186 3,040 24,226 ABS — 11,351 1,224 12,575 Municipals — 8,983 — 8,983 CMBS — 6,628 201 6,829 Foreign government — 5,263 5 5,268 Total fixed maturity securities AFS 12,697 149,300 19,343 181,340 Short-term investments 2,216 406 1 2,623 Residential mortgage loans — FVO — — 165 165 Other investments 431 270 565 1,266 Derivative assets: (1) Interest rate — 6,816 489 7,305 Foreign currency exchange rate — 1,408 — 1,408 Credit — 109 25 134 Equity market — 454 17 471 Total derivative assets — 8,787 531 9,318 Separate account assets (2) 28,296 99,405 945 128,646 Total assets (3) $ 43,640 $ 258,168 $ 21,550 $ 323,358 Liabilities Derivative liabilities: (1) Interest rate $ — $ 11 $ 68 $ 79 Foreign currency exchange rate — 1,683 2 1,685 Credit — 9 — 9 Equity market 16 463 9 488 Total derivative liabilities 16 2,166 79 2,261 Embedded derivatives within liability host contracts (4) — — 2,061 2,061 Separate account liabilities (2) 12 8 6 26 Total liabilities $ 28 $ 2,174 $ 2,146 $ 4,348 __________________ (1) Derivative assets are presented within other invested assets on the interim condensed consolidated balance sheets and derivative liabilities are presented within other liabilities on the interim condensed consolidated balance sheets. The amounts are presented gross in the tables above to reflect the presentation on the interim condensed consolidated balance sheets, but are presented net for purposes of the rollforward in the Fair Value Measurements Using Significant Unobservable Inputs (Level 3) tables. (2) 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. Separate account liabilities presented in the tables above represent derivative liabilities. (3) Total assets included in the fair value hierarchy exclude other limited partnership interests that are measured at estimated fair value using the net asset value (“NAV”) per share (or its equivalent) practical expedient. At both June 30, 2021 and December 31, 2020, the estimated fair value of such investments was $70 million. (4) Embedded derivatives within liability host contracts are presented within policyholder account balances and other liabilities on the interim condensed consolidated balance sheets.
Fair Value Inputs, Quantitative Information	The following table presents certain quantitative information about the significant unobservable inputs used in the fair value measurement, and the sensitivity of the estimated fair value to changes in those inputs, for the more significant asset and liability classes measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at: June 30, 2021 December 31, 2020 Impact of Valuation Techniques Significant Range Weighted Range Weighted Fixed maturity securities AFS (3) U.S. corporate and foreign corporate • Matrix pricing • Offered quotes (4) 1 - 172 113 — - 186 118 Increase • Market pricing • Quoted prices (4) — - 123 100 — - 116 99 Increase RMBS • Market pricing • Quoted prices (4) — - 147 99 — - 159 98 Increase (5) ABS • Market pricing • Quoted prices (4) 91 - 110 100 1 - 107 100 Increase (5) Derivatives Interest rate • Present value techniques • Swap yield (6) 148 - 228 199 92 - 184 149 Increase (7) • Repurchase rates (8) — - — — (12) - 1 (6) Decrease (7) • Volatility (9) 0% - 1% 0% — - — — Increase (7) Foreign currency exchange rate • Present value techniques • Swap yield (6) — - — — (31) - (13) (20) Increase (7) Credit • Present value techniques • Credit spreads (10) 96 - 128 103 96 - 99 98 Decrease (7) • Consensus pricing • Offered quotes (11) Equity market • Present value techniques or option pricing models • Volatility (12) — - — — 21% - 28% 28% Increase (7) • Correlation (13) 10% - 10% 10% 10% - 30% 10% Embedded derivatives Direct and assumed guaranteed minimum benefits • Option pricing techniques • Mortality rates: Ages 0 - 40 0.01% - 0.12% 0.06% 0.01% - 0.12% 0.06% Decrease (14) Ages 41 - 60 0.05% - 0.65% 0.30% 0.05% - 0.65% 0.30% Decrease (14) Ages 61 - 115 0.31% - 100% 1.90% 0.31% - 100% 1.90% Decrease (14) • Lapse rates: Durations 1 - 10 0.25% - 100% 6.86% 0.25% - 100% 6.86% Decrease (15) Durations 11 - 20 4.70% - 100% 5.18% 4.70% - 100% 5.18% Decrease (15) Durations 21 - 116 2% - 100% 5.18% 2% - 100% 5.18% Decrease (15) • Utilization rates 0% - 22% 0.17% 0% - 22% 0.17% Increase (16) • Withdrawal rates 0.25% - 10% 3.98% 0.25% - 10% 3.98% (17) • Long-term equity volatilities 16.66% - 22.21% 18.70% 16.66% - 22.21% 18.70% Increase (18) • Nonperformance risk spread 0.04% - 0.38% 0.40% 0.04% - 0.39% 0.40% Decrease (19) __________________ (1) The weighted average for fixed maturity securities AFS and derivatives is determined based on the estimated fair value of the securities and derivatives. The weighted average for embedded derivatives is determined based on a combination of account values and experience data. (2) The impact of a decrease in input would have resulted in the opposite impact on estimated fair value. For embedded derivatives, changes to direct and assumed guaranteed minimum benefits are based on liability positions. (3) Significant increases (decreases) in expected default rates in isolation would have resulted in substantially lower (higher) valuations. (4) Range and weighted average are presented in accordance with the market convention for fixed maturity securities AFS of dollars per hundred dollars of par. (5) Changes in the assumptions used for the probability of default would have been accompanied by a directionally similar change in the assumption used for the loss severity and a directionally opposite change in the assumptions used for prepayment rates. (6) Ranges represent the rates across different yield curves and are presented in basis points. The swap yield curves are utilized among different types of derivatives to project cash flows, as well as to discount future cash flows to present value. Since this valuation methodology uses a range of inputs across a yield curve to value the derivative, presenting a range is more representative of the unobservable input used in the valuation. (7) Changes in estimated fair value are based on long U.S. dollar net asset positions and will be inversely impacted for short U.S. dollar net asset positions. (8) Ranges represent different repurchase rates utilized as components within the valuation methodology and are presented in basis points. (9) Ranges represent the underlying interest rate volatility quoted in percentage points. Since this valuation methodology uses an equivalent of LIBOR for secured overnight financing rate volatility, presenting a range is more representative of the unobservable input used in the valuation. (10) Represents the risk quoted in basis points of a credit default event on the underlying instrument. Credit derivatives with significant unobservable inputs are primarily comprised of written credit default swaps. (11) A t both June 30, 2021 and December 31, 2020, independent non-binding broker quotations were used in the determination of less than 1% of the total net derivative estimated fair value. (12) Ranges represent the underlying equity volatility quoted in percentage points. Since this valuation methodology uses a range of inputs across multiple volatility surfaces to value the derivative, presenting a range is more representative of the unobservable input used in the valuation. (13) Ran ges represent the different correlation factors utilized as components within the valuation methodology. Presenting a range of correlation factors is more representative of the unobservable input used in the valuation. Increases (decreases) in correlation in isolation will increase (decrease) the significance of the change in valuations. (14) Mortality rates vary by age and by demographic characteristics such as gender. Mortality rate assumptions are based on company experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. (15) Base lapse rates are adjusted at the contract level based on a comparison of the actuarially calculated guaranteed values and the current policyholder account value, as well as other factors, such as the applicability of any surrender charges. A dynamic lapse function reduces the base lapse rate when the guaranteed amount is greater than the account value as in the money contracts are less likely to lapse. Lapse rates are also generally assumed to be lower in periods when a surrender charge applies. For any given contract, lapse rates vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. (16) The utilization rate assumption estimates the percentage of contractholders with GMIBs or a lifetime withdrawal benefit who will elect to utilize the benefit upon becoming eligible. The rates may vary by the type of guarantee, the amount by which the guaranteed amount is greater than the account value, the contract’s withdrawal history and by the age of the policyholder. For any given contract, utilization rates vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. (17) The withdrawal rate represents the percentage of account balance that any given policyholder will elect to withdraw from the contract each year. The withdrawal rate assumption varies by age and duration of the contract, and also by other factors such as benefit type. For any given contract, withdrawal rates vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. For GMWBs, any increase (decrease) in withdrawal rates results in an increase (decrease) in the estimated fair value of the guarantees. For GMABs and GMIBs, any increase (decrease) in withdrawal rates results in a decrease (increase) in the estimated fair value. (18) Long-term equity volatilities represent equity volatility beyond the period for which observable equity volatilities are available. For any given contract, long-term equity volatility rates vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. (19) Nonperformance risk spread varies by duration and by currency. For any given contract, multiple nonperformance risk spreads will apply, depending on the duration of the cash flow being discounted for purposes of valuing the embedded derivative.
Fair Value, Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables summarize the change of all assets (liabilities) measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Fixed Maturity Securities AFS Corporate (6) Structured Municipals Foreign Short-term (In millions) Three Months Ended June 30, 2021 Balance, beginning of period $ 14,248 $ 4,490 $ — $ 7 $ 37 Total realized/unrealized gains (losses) included in net income (loss) (1), (2) (6) 14 — — — Total realized/unrealized gains (losses) included in AOCI 220 16 — — — Purchases (3) 344 588 — 8 24 Sales (3) (235) (308) — (3) (34) Issuances (3) — — — — — Settlements (3) — — — — — Transfers into Level 3 (4) 38 307 — — 50 Transfers out of Level 3 (4) (504) (276) — (1) — Balance, end of period $ 14,105 $ 4,831 $ — $ 11 $ 77 Three Months Ended June 30, 2020 Balance, beginning of period $ 12,978 $ 3,240 $ — $ 33 $ 354 Total realized/unrealized gains (losses) included in net income (loss) (1), (2) (23) 9 — — (1) Total realized/unrealized gains (losses) included in AOCI 789 191 — — 1 Purchases (3) 688 1,192 — 9 — Sales (3) (396) (166) — (1) (4) Issuances (3) — — — — — Settlements (3) — — — — — Transfers into Level 3 (4) 116 122 — — — Transfers out of Level 3 (4) (1,174) (42) — (26) (350) Balance, end of period $ 12,978 $ 4,546 $ — $ 15 $ — Changes in unrealized gains (losses) included in net income (loss) for the instruments still held $ (7) $ 14 $ — $ — $ — Changes in unrealized gains (losses) included in net income (loss) for the instruments still held $ (15) $ 12 $ — $ — $ — Changes in unrealized gains (losses) included in AOCI for the instruments still held $ 221 $ 15 $ — $ — $ — Changes in unrealized gains (losses) included in AOCI for the instruments still held $ 780 $ 187 $ — $ — $ — Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Residential Other Investments Net Net Embedded Separate (In millions) Three Months Ended June 30, 2021 Balance, beginning of period $ 149 $ 673 $ (277) $ (1,216) $ 992 Total realized/unrealized gains (losses) included in net income (loss) (1), (2) (1) 42 35 (252) 9 Total realized/unrealized gains (losses) included in AOCI — — 206 — — Purchases (3) — 27 3 — 118 Sales (3) (2) (13) — — (27) Issuances (3) — — (5) — 1 Settlements (3) (6) — 12 (43) 3 Transfers into Level 3 (4) — — — — 9 Transfers out of Level 3 (4) — (5) 65 — — Balance, end of period $ 140 $ 724 $ 39 $ (1,511) $ 1,105 Three Months Ended June 30, 2020 Balance, beginning of period $ 180 $ 655 $ 1,192 $ (2,442) $ 927 Total realized/unrealized gains (losses) included in net income (loss) (1), (2) 1 46 (29) (86) 10 Total realized/unrealized gains (losses) included in AOCI — — (74) — — Purchases (3) — 16 — — 57 Sales (3) (2) (2) — — (93) Issuances (3) — — — — (2) Settlements (3) (4) — (151) (43) 1 Transfers into Level 3 (4) — — — — 13 Transfers out of Level 3 (4) — (19) — — (1) Balance, end of period $ 175 $ 696 $ 938 $ (2,571) $ 912 Changes in unrealized gains (losses) included in net income (loss) for the instruments still held $ (2) $ 38 $ 16 $ (249) $ — Changes in unrealized gains (losses) included in net income (loss) for the instruments still held $ — $ 46 $ (16) $ (89) $ — Changes in unrealized gains (losses) included in AOCI for the instruments still held $ — $ — $ 200 $ — $ — Changes in unrealized gains (losses) included in AOCI for the instruments still held $ — $ — $ (70) $ — $ — Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Fixed Maturity Securities AFS Corporate (6) Structured Municipals Foreign Short-term (In millions) Six Months Ended June 30, 2021 Balance, beginning of period $ 14,873 $ 4,465 $ — $ 5 $ 1 Total realized/unrealized gains (losses) included in net income (loss) (1), (2) (8) 23 — — — Total realized/unrealized gains (losses) included in AOCI (425) (3) — (1) — Purchases (3) 648 932 — 8 75 Sales (3) (404) (637) — (1) — Issuances (3) — — — — — Settlements (3) — — — — — Transfers into Level 3 (4) 82 269 — — 1 Transfers out of Level 3 (4) (661) (218) — — — Balance, end of period $ 14,105 $ 4,831 $ — $ 11 $ 77 Six Months Ended June 30, 2020 Balance, beginning of period $ 9,382 $ 3,395 $ 7 $ 10 $ 17 Total realized/unrealized gains (losses) included in net income (loss) (1), (2) (71) 19 — — — Total realized/unrealized gains (losses) included in AOCI (233) (98) — (1) — Purchases (3) 1,658 1,431 — 9 — Sales (3) (515) (326) — (1) — Issuances (3) — — — — — Settlements (3) — — — — — Transfers into Level 3 (4) 3,128 144 — — — Transfers out of Level 3 (4) (371) (19) (7) (2) (17) Balance, end of period $ 12,978 $ 4,546 $ — $ 15 $ — Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at June 30, 2021 (5) $ (9) $ 21 $ — $ — $ — Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at June 30, 2020 (5) $ (39) $ 22 $ — $ — $ — Changes in unrealized gains (losses) included in AOCI for the instruments still held at June 30, 2021 (5) $ (423) $ (2) $ — $ (1) $ — Changes in unrealized gains (losses) included in AOCI for the instruments still held at June 30, 2020 (5) $ (257) $ (97) $ — $ — $ — Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Residential Other Investments Net Net Embedded Separate Accounts (9) (In millions) Six Months Ended June 30, 2021 Balance, beginning of period $ 165 $ 565 $ 452 $ (2,061) $ 939 Total realized/unrealized gains (losses) included in net income (loss) (1), (2) (3) 76 (120) 634 (1) Total realized/unrealized gains (losses) included in AOCI — — (409) — — Purchases (3) — 27 3 — 187 Sales (3) (11) (14) — — (32) Issuances (3) — — (6) — — Settlements (3) (11) — 117 (84) 5 Transfers into Level 3 (4) — 74 1 — 10 Transfers out of Level 3 (4) — (4) 1 — (3) Balance, end of period $ 140 $ 724 $ 39 $ (1,511) $ 1,105 Six Months Ended June 30, 2020 Balance, beginning of period $ 188 $ 799 $ (72) $ (1,325) $ 915 Total realized/unrealized gains (losses) included in net income (loss) (1), (2) 3 (2) 240 (1,159) 1 Total realized/unrealized gains (losses) included in AOCI — — 1,021 — — Purchases (3) — 31 — — 94 Sales (3) (7) (35) — — (101) Issuances (3) — — — — (3) Settlements (3) (9) — (251) (87) 1 Transfers into Level 3 (4) — — — — 10 Transfers out of Level 3 (4) — (97) — — (5) Balance, end of period $ 175 $ 696 $ 938 $ (2,571) $ 912 Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at June 30, 2021 (5) $ (7) $ 72 $ (34) $ 636 $ — Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at June 30, 2020 (5) $ — $ 1 $ 84 $ (1,160) $ — Changes in unrealized gains (losses) included in AOCI for the instruments still held at June 30, 2021 (5) $ — $ — $ (274) $ — $ — Changes in unrealized gains (losses) included in AOCI for the instruments still held at June 30, 2020 (5) $ — $ — $ 923 $ — $ — __________________ (1) Amortization of premium/accretion of discount is included within net investment income. Impairments charged to net income (loss) on securities are included in net investment gains (losses), while changes in estimated fair value of residential mortgage loans — FVO are included in net investment income. Lapses associated with net embedded derivatives are included in net derivative gains (losses). Substantially all realized/unrealized gains (losses) included in net income (loss) for net derivatives and net embedded derivatives are reported 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) Items purchased/issued and then sold/settled in the same period are excluded from the rollforward. Fees attributed to embedded derivatives are included in settlements. (4) Items transferred into and then out of Level 3 in the same period are excluded from the rollforward. (5) Changes in unrealized gains (losses) included in net income (loss) and included in AOCI relate to assets and liabilities still held at the end of the respective periods. Substantially all changes in unrealized gains (losses) included in net income (loss) for net derivatives and net embedded derivatives are reported in net derivative gains (losses). (6) Comprised of U.S. and foreign corporate securities. (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 (loss). For the purpose of this disclosure, these changes are presented within net investment gains (losses). Separate account assets and liabilities are presented net for the purposes of the rollforward.
Fair Value Option	The following table presents information for residential mortgage loans which are accounted for under the FVO and were initially measured at fair value. June 30, 2021 December 31, 2020 (In millions) Unpaid principal balance $ 141 $ 172 Difference between estimated fair value and unpaid principal balance (1) (7) Carrying value at estimated fair value $ 140 $ 165 Loans in nonaccrual status $ 35 $ 45 Loans more than 90 days past due $ 18 $ 27 Loans in nonaccrual status or more than 90 days past due, or both — difference between aggregate estimated fair value and unpaid principal balance $ (6) $ (13)
Fair Value Measurements, Nonrecurring	Nonrecurring Fair Value Measurements The following table presents information for assets measured at estimated fair value on a nonrecurring basis during the periods and still held at the reporting dates (for example, when there is evidence of impairment), using significant unobservable inputs (Level 3). June 30, December 31, Three Months Six Months 2021 2020 2021 2020 2021 2020 Carrying Value After Measurement Gains (Losses) (In millions) Mortgage loans, net (1) $ 321 $ 320 $ (35) $ (9) $ (30) $ (9) __________________ (1) Estimated fair values for impaired mortgage loans are based on estimated fair value of the underlying collateral.
Fair Value of Financial Instruments Carried at Other Than Fair Value	The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows at: June 30, 2021 Fair Value Hierarchy Carrying Level 1 Level 2 Level 3 Total (In millions) Assets Mortgage loans (1) $ 62,659 $ — $ — $ 66,300 $ 66,300 Policy loans $ 5,885 $ — $ — $ 6,879 $ 6,879 Other invested assets $ 2,377 $ — $ 2,417 $ 2 $ 2,419 Premiums, reinsurance and other receivables $ 13,193 $ — $ 492 $ 13,098 $ 13,590 Liabilities Policyholder account balances $ 79,488 $ — $ — $ 82,970 $ 82,970 Long-term debt $ 1,626 $ — $ 2,021 $ — $ 2,021 Other liabilities $ 12,841 $ — $ 504 $ 12,573 $ 13,077 Separate account liabilities $ 57,878 $ — $ 57,878 $ — $ 57,878 December 31, 2020 Fair Value Hierarchy Carrying Level 1 Level 2 Level 3 Total (In millions) Assets Mortgage loans (1) $ 66,240 $ — $ — $ 70,391 $ 70,391 Policy loans $ 5,973 $ — $ — $ 7,148 $ 7,148 Other invested assets $ 2,849 $ — $ 2,586 $ 167 $ 2,753 Premiums, reinsurance and other receivables $ 13,173 $ — $ 363 $ 13,274 $ 13,637 Liabilities Policyholder account balances $ 78,059 $ — $ — $ 82,982 $ 82,982 Long-term debt $ 1,615 $ — $ 2,018 $ — $ 2,018 Other liabilities $ 12,595 $ — $ 134 $ 12,778 $ 12,912 Separate account liabilities $ 59,103 $ — $ 59,103 $ — $ 59,103

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	Information regarding changes in the balances of each component of AOCI attributable to Metropolitan Life Insurance Company was as follows: Three Months Unrealized Investment Gains (Losses), Net of Related Offsets (1) Unrealized Gains (Losses) on Derivatives Foreign Currency Translation Adjustments Defined Benefit Plans Adjustment Total (In millions) Balance, beginning of period $ 8,305 $ 854 $ (29) $ (451) $ 8,679 Other comprehensive income (loss) (“OCI”) before reclassifications 759 859 (6) (2) 1,610 Deferred income tax benefit (expense) (153) (181) 2 — (332) AOCI before reclassifications, net of income tax 8,911 1,532 (33) (453) 9,957 Amounts reclassified from AOCI 35 (142) — 10 (97) Deferred income tax benefit (expense) (8) 29 — (2) 19 Amounts reclassified from AOCI, net of income tax 27 (113) — 8 (78) Balance, end of period $ 8,938 $ 1,419 $ (33) $ (445) $ 9,879 Three Months Unrealized Investment Gains (Losses), Net of Related Offsets (1) Unrealized Gains (Losses) on Derivatives Foreign Currency Translation Adjustments Defined Benefit Plans Adjustment Total (In millions) Balance, beginning of period $ 7,177 $ 4,567 $ (86) $ (367) $ 11,291 OCI before reclassifications 4,447 (415) (25) 4 4,011 Deferred income tax benefit (expense) (956) 87 7 (1) (863) AOCI before reclassifications, net of income tax 10,668 4,239 (104) (364) 14,439 Amounts reclassified from AOCI 41 (317) — 6 (270) Deferred income tax benefit (expense) (8) 66 — (1) 57 Amounts reclassified from AOCI, net of income tax 33 (251) — 5 (213) Balance, end of period $ 10,701 $ 3,988 $ (104) $ (359) $ 14,226 Six Months Unrealized Unrealized Foreign Defined Total (In millions) Balance, beginning of period $ 10,384 $ 1,791 $ (53) $ (460) $ 11,662 OCI before reclassifications (1,900) (401) 24 (2) (2,279) Deferred income tax benefit (expense) 408 84 (4) — 488 AOCI before reclassifications, net of income tax 8,892 1,474 (33) (462) 9,871 Amounts reclassified from AOCI 59 (69) — 21 11 Deferred income tax benefit (expense) (13) 14 — (4) (3) Amounts reclassified from AOCI, net of income tax 46 (55) — 17 8 Balance, end of period $ 8,938 $ 1,419 $ (33) $ (445) $ 9,879 Six Months Unrealized Unrealized Foreign Defined Total (In millions) Balance, beginning of period $ 8,876 $ 1,620 $ (97) $ (374) $ 10,025 OCI before reclassifications 2,228 2,876 (9) 4 5,099 Deferred income tax benefit (expense) (462) (604) 2 (1) (1,065) AOCI before reclassifications, net of income tax 10,642 3,892 (104) (371) 14,059 Amounts reclassified from AOCI 74 122 — 15 211 Deferred income tax benefit (expense) (15) (26) — (3) (44) Amounts reclassified from AOCI, net of income tax 59 96 — 12 167 Balance, end of period $ 10,701 $ 3,988 $ (104) $ (359) $ 14,226 __________________ (1) See Note 5 for information on offsets to investments related to policyholder liabilities, DAC, VOBA and DSI.
Reclassification out of Accumulated Other Comprehensive Income (Loss)	Information regarding amounts reclassified out of each component of AOCI was as follows: Three Months Six Months 2021 2020 2021 2020 AOCI Components Amounts Reclassified from AOCI Consolidated Statements of (In millions) Net unrealized investment gains (losses): Net unrealized investment gains (losses) $ (19) $ (32) $ (34) $ (58) Net investment gains (losses) Net unrealized investment gains (losses) (4) (2) (7) (8) Net investment income Net unrealized investment gains (losses) (12) (7) (18) (8) Net derivative gains (losses) Net unrealized investment gains (losses), before income tax (35) (41) (59) (74) Income tax (expense) benefit 8 8 13 15 Net unrealized investment gains (losses), net of income tax (27) (33) (46) (59) Unrealized gains (losses) on derivatives - cash flow hedges: Interest rate derivatives 14 9 27 15 Net investment income Interest rate derivatives 19 42 48 48 Net investment gains (losses) Foreign currency exchange rate derivatives 1 — 2 — Net investment income Foreign currency exchange rate derivatives 108 266 (8) (185) Net investment gains (losses) Gains (losses) on cash flow hedges, before income tax 142 317 69 (122) Income tax (expense) benefit (29) (66) (14) 26 Gains (losses) on cash flow hedges, net of income tax 113 251 55 (96) Defined benefit plans adjustment: (1) Amortization of net actuarial gains (losses) (11) (6) (23) (16) Amortization of prior service (costs) credit 1 — 2 1 Amortization of defined benefit plan items, before income tax (10) (6) (21) (15) Income tax (expense) benefit 2 1 4 3 Amortization of defined benefit plan items, net of income tax (8) (5) (17) (12) Total reclassifications, net of income tax $ 78 $ 213 $ (8) $ (167) __________________ (1) These AOCI components are included in the computation of net periodic benefit costs.

Other Revenues and Other Expe_2

Other Revenues and Other Expenses (Tables)	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Disaggregation of Revenue	Information on other revenues, which primarily includes fees related to service contracts from customers, was as follows: Three Months Six Months 2021 2020 2021 2020 (In millions) Prepaid legal plans $ 99 $ 94 $ 199 $ 189 Recordkeeping and administrative services (1) 53 45 105 94 Administrative services-only contracts 54 54 112 110 Other revenue from service contracts from customers 11 9 20 18 Total revenues from service contracts from customers 217 202 436 411 Other (2) 215 201 421 365 Total other revenues $ 432 $ 403 $ 857 $ 776 __________________ (1) Related to products and businesses no longer actively marketed by the Company. (2) Primarily includes reinsurance ceded. See Note 12.
Other Expenses	Information on other expenses was as follows: Three Months Six Months 2021 2020 2021 2020 (In millions) General and administrative expenses (1) $ 547 $ 537 $ 1,094 $ 1,132 Pension, postretirement and postemployment benefit costs 25 8 58 17 Premium taxes, other taxes, and licenses & fees 93 95 166 192 Commissions and other variable expenses 494 450 982 922 Capitalization of DAC (10) (13) (29) (23) Amortization of DAC and VOBA 32 (16) 72 87 Interest expense on debt 24 26 48 51 Total other expenses $ 1,205 $ 1,087 $ 2,391 $ 2,378 __________________ (1) Includes ($44) million and ($57) million for the three months and six months ended June 30, 2021, respectively, and ($53) million and ($25) million for the three months and six months ended June 30, 2020, respectively, for the net change in cash surrender value of investments in certain life insurance policies, net of premiums paid.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Effects of reinsurance	Information regarding the significant effects of affiliated reinsurance on the interim condensed consolidated statements of operations and comprehensive income (loss) was as follows: Three Months Ended Six Months 2021 2020 2021 2020 (In millions) Premiums Reinsurance assumed $ 840 $ 2 $ 842 $ 4 Reinsurance ceded (29) (29) (60) (58) Net premiums $ 811 $ (27) $ 782 $ (54) Universal life and investment-type product policy fees Reinsurance assumed $ — $ — $ — $ — Reinsurance ceded (3) (3) (1) (2) Net universal life and investment-type product policy fees $ (3) $ (3) $ (1) $ (2) Other revenues Reinsurance assumed $ 5 $ — $ 2 $ (9) Reinsurance ceded 142 119 283 251 Net other revenues $ 147 $ 119 $ 285 $ 242 Policyholder benefits and claims Reinsurance assumed $ 831 $ — $ 832 $ 1 Reinsurance ceded (37) (34) (72) (69) Net policyholder benefits and claims $ 794 $ (34) $ 760 $ (68) Interest credited to policyholder account balances Reinsurance assumed $ 7 $ 7 $ 14 $ 14 Reinsurance ceded (3) (3) (6) (6) Net interest credited to policyholder account balances $ 4 $ 4 $ 8 $ 8 Other expenses Reinsurance assumed $ 19 $ — $ 19 $ — Reinsurance ceded 132 119 234 254 Net other expenses $ 151 $ 119 $ 253 $ 254 Information regarding the significant effects of affiliated reinsurance on the interim condensed consolidated balance sheets was as follows at: June 30, 2021 December 31, 2020 Assumed Ceded Assumed Ceded (In millions) Assets Premiums, reinsurance and other receivables $ 17 $ 12,409 $ 1 $ 12,453 Deferred policy acquisition costs and value of business acquired — (142) — (145) Total assets $ 17 $ 12,267 $ 1 $ 12,308 Liabilities Future policy benefits $ 863 $ (11) $ 48 $ (14) Policyholder account balances 118 — 123 — Other policy-related balances 14 3 1 5 Other liabilities 890 12,450 864 12,816 Total liabilities $ 1,885 $ 12,442 $ 1,036 $ 12,807

Business, Basis of Presentati_3

Business, Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details)	6 Months Ended
	Jun. 30, 2021Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of segments	2

Segment Information (Earnings)

Segment Information (Earnings) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Premiums	$ 6,451		$ 4,721		$ 12,256	$ 9,969
Universal life and investment-type product policy fees	514		479		1,049	1,007
Net investment income	3,034		2,005		6,221	4,649
Other revenues	432		403		857	776
Net investment gains (losses)	342		56		502	(126)
Net derivative gains (losses)	25		(793)		(990)	2,762
Total revenues	10,798		6,871		19,895	19,037
Expenses
Policyholder benefits and claims and policyholder dividends	7,329		5,669		14,113	11,596
Interest credited to policyholder account balances	512		571		1,023	1,182
Capitalization of DAC	(10)		(13)		(29)	(23)
Amortization of DAC and VOBA	32		(16)		72	87
Interest expense on debt	24		26		48	51
Other expenses	1,159		1,090		2,300	2,263
Total expenses	9,046		7,327		17,527	15,156
Provision for income tax expense (benefit)	308		(171)		357	619
Net income (loss)	1,444	$ 567	(285)	$ 3,547	2,011	3,262
Operating Segments
Revenues
Premiums	6,451		4,721		12,256	9,969
Universal life and investment-type product policy fees	495		458		1,010	964
Net investment income	3,176		2,141		6,513	4,871
Other revenues	432		403		857	776
Net investment gains (losses)	0		0		0	0
Net derivative gains (losses)	0		0		0	0
Total revenues	10,554		7,723		20,636	16,580
Expenses
Policyholder benefits and claims and policyholder dividends	7,236		5,561		13,951	11,519
Interest credited to policyholder account balances	513		574		1,025	1,189
Capitalization of DAC	(10)		(13)		(29)	(23)
Amortization of DAC and VOBA	44		7		91	100
Interest expense on debt	24		26		48	51
Other expenses	1,164		1,087		2,308	2,259
Total expenses	8,971		7,242		17,394	15,095
Provision for income tax expense (benefit)	261		26		529	116
Adjusted earnings	1,322		455		2,713	1,369
Segment Reconciling Items
Revenues
Premiums	0		0		0	0
Universal life and investment-type product policy fees	19		21		39	43
Net investment income	(142)		(136)		(292)	(222)
Other revenues	0		0		0	0
Net investment gains (losses)	342		56		502	(126)
Net derivative gains (losses)	25		(793)		(990)	2,762
Total revenues	244		(852)		(741)	2,457
Expenses
Policyholder benefits and claims and policyholder dividends	93		108		162	77
Interest credited to policyholder account balances	(1)		(3)		(2)	(7)
Capitalization of DAC	0		0		0	0
Amortization of DAC and VOBA	(12)		(23)		(19)	(13)
Interest expense on debt	0		0		0	0
Other expenses	(5)		3		(8)	4
Total expenses	75		85		133	61
Provision for income tax expense (benefit)	47		(197)		(172)	503
U.S. | Operating Segments
Revenues
Premiums	5,760		3,981		10,897	8,491
Universal life and investment-type product policy fees	274		260		561	522
Net investment income	1,804		1,339		3,651	2,973
Other revenues	222		215		446	429
Net investment gains (losses)	0		0		0	0
Net derivative gains (losses)	0		0		0	0
Total revenues	8,060		5,795		15,555	12,415
Expenses
Policyholder benefits and claims and policyholder dividends	5,917		4,106		11,368	8,667
Interest credited to policyholder account balances	346		401		691	843
Capitalization of DAC	(10)		(18)		(29)	(32)
Amortization of DAC and VOBA	6		13		22	27
Interest expense on debt	1		2		3	4
Other expenses	813		742		1,609	1,536
Total expenses	7,073		5,246		13,664	11,045
Provision for income tax expense (benefit)	205		117		393	292
Adjusted earnings	782		432		1,498	1,078
MetLife Holdings | Operating Segments
Revenues
Premiums	691		740		1,359	1,478
Universal life and investment-type product policy fees	221		198		449	442
Net investment income	1,400		857		2,891	2,023
Other revenues	66		68		124	94
Net investment gains (losses)	0		0		0	0
Net derivative gains (losses)	0		0		0	0
Total revenues	2,378		1,863		4,823	4,037
Expenses
Policyholder benefits and claims and policyholder dividends	1,319		1,455		2,583	2,852
Interest credited to policyholder account balances	167		173		334	346
Capitalization of DAC	0		5		0	9
Amortization of DAC and VOBA	38		(6)		69	73
Interest expense on debt	1		1		2	3
Other expenses	210		208		431	408
Total expenses	1,735		1,836		3,419	3,691
Provision for income tax expense (benefit)	130		1		285	63
Adjusted earnings	513		26		1,119	283
Corporate & Other | Operating Segments
Revenues
Premiums	0		0		0	0
Universal life and investment-type product policy fees	0		0		0	0
Net investment income	(28)		(55)		(29)	(125)
Other revenues	144		120		287	253
Net investment gains (losses)	0		0		0	0
Net derivative gains (losses)	0		0		0	0
Total revenues	116		65		258	128
Expenses
Policyholder benefits and claims and policyholder dividends	0		0		0	0
Interest credited to policyholder account balances	0		0		0	0
Capitalization of DAC	0		0		0	0
Amortization of DAC and VOBA	0		0		0	0
Interest expense on debt	22		23		43	44
Other expenses	141		137		268	315
Total expenses	163		160		311	359
Provision for income tax expense (benefit)	(74)		(92)		(149)	(239)
Adjusted earnings	$ 27		$ (3)		$ 96	$ 8

Segment Information (Total Asse

Segment Information (Total Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total assets	$ 452,565	$ 457,607
U.S.
Segment Reporting Information [Line Items]
Total assets	260,801	262,478
MetLife Holdings
Segment Reporting Information [Line Items]
Total assets	163,479	164,956
Corporate & Other
Segment Reporting Information [Line Items]
Total assets	$ 28,285	$ 30,173

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
	Jun. 30, 2021Segment
Segment Reporting [Abstract]
Number of segments	2

Insurance (Guarantees Related t

Insurance (Guarantees Related to Annuity Contracts) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Variable Annuity Guarantees: | Guaranteed Death Benefits
Net Amount at Risk by Product and Guarantee [Line Items]
Total account value	$ 50,525	$ 50,047
Separate account value (1)	41,273	40,583
Net amount at risk	$ 1,108	$ 1,178
Average attained age of contractholders	69 years	68 years
Variable Annuity Guarantees: | Guaranteed Annuitization Benefits
Net Amount at Risk by Product and Guarantee [Line Items]
Total account value	$ 21,100	$ 21,229
Separate account value (1)	20,269	20,368
Net amount at risk	$ 406	$ 552
Average attained age of contractholders	68 years	67 years
Other Annuity Guarantees: | Guaranteed Annuitization Benefits
Net Amount at Risk by Product and Guarantee [Line Items]
Total account value	$ 138	$ 142
Net amount at risk	$ 72	$ 74
Average attained age of contractholders	55 years	55 years

Insurance (Guarantees Related_2

Insurance (Guarantees Related to Universal and Variable Life Contracts) (Details) - Universal and Variable Life Contracts - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Secondary Guarantees
Net Amount at Risk by Product and Guarantee [Line Items]
Total account value (1), (2)	$ 5,912	$ 5,607
Net amount at risk (6)	$ 38,150	$ 39,134
Average attained age of policyholders	58 years	58 years
Paid-Up Guarantees
Net Amount at Risk by Product and Guarantee [Line Items]
Total account value (1), (2)	$ 842	$ 861
Net amount at risk (6)	$ 5,350	$ 5,525
Average attained age of policyholders	65 years	65 years

Insurance (Rollforward of Unpai

Insurance (Rollforward of Unpaid Claims) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance, beginning of period	$ 13,523	$ 13,140
Less: Reinsurance recoverables	1,639	1,525
Net balance, beginning of period	11,884	11,615
Incurred related to:
Current period	9,917	9,103
Prior periods (1)	436	(69)
Total incurred	10,353	9,034
Paid related to:
Current period	(6,044)	(5,588)
Prior periods	(4,135)	(3,277)
Total paid	(10,179)	(8,865)
Net balance, end of period	12,058	11,784
Add: Reinsurance recoverables	2,078	1,704
Balance, end of period (included in future policy benefits and other policy-related balances)	$ 14,136	$ 13,488

Closed Block (Liabilities and A

Closed Block (Liabilities and Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Closed Block Liabilities
Future policy benefits	$ 38,373	$ 38,758
Other policy-related balances	271	321
Policyholder dividends payable	340	337
Policyholder dividend obligation	2,115	2,969	$ 2,020
Deferred income tax liability	161	130
Other liabilities	276	172
Total closed block liabilities	41,536	42,687
Assets Designated to the Closed Block
Fixed maturity securities available-for-sale, at estimated fair value	26,320	27,186
Mortgage loans	6,447	6,807
Policy loans	4,272	4,355
Real estate and real estate joint ventures	551	559
Other invested assets	506	492
Total investments	38,096	39,399
Cash and cash equivalents	199	0
Accrued investment income	386	402
Premiums, reinsurance and other receivables	52	50
Current income tax recoverable	46	28
Total assets designated to the closed block	38,779	39,879
Excess of closed block liabilities over assets designated to the closed block	2,757	2,808
AOCI:
Unrealized investment gains (losses), net of income tax	2,911	3,524
Unrealized gains (losses) on derivatives, net of income tax	47	23
Allocated to policyholder dividend obligation, net of income tax	(1,671)	(2,346)
Total amounts included in AOCI	1,287	1,201
Maximum future earnings to be recognized from closed block assets and liabilities	$ 4,044	$ 4,009

Closed Block (Policyholder Divi

Closed Block (Policyholder Dividend Obligation) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Closed block policyholder dividend obligation
Balance, beginning of period	$ 2,969	$ 2,020
Change in unrealized investment and derivative gains (losses)	(854)	949
Balance, end of period	$ 2,115	$ 2,969

Closed Block (Revenues and Expe

Closed Block (Revenues and Expenses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Premiums	$ 325	$ 371	$ 645	$ 738
Net investment income	382	371	775	778
Net investment gains (losses)	(11)	10	(5)	(9)
Net derivative gains (losses)	6	(3)	7	23
Total revenues	702	749	1,422	1,530
Expenses
Policyholder benefits and claims	520	589	1,066	1,139
Policyholder dividends	173	217	351	436
Other expenses	24	25	49	52
Total expenses	717	831	1,466	1,627
Revenues, net of expenses before provision for income tax expense (benefit)	(15)	(82)	(44)	(97)
Provision for income tax expense (benefit)	(3)	(17)	(9)	(20)
Revenues, net of expenses and provision for income tax expense (benefit)	$ (12)	$ (65)	$ (35)	$ (77)

Investments (Fixed Maturity Sec

Investments (Fixed Maturity Securities Available-For-Sale by Sector) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 156,669	$ 156,423
Allowance for Credit Loss for Debt Securities	(59)	(51)
Estimated Fair Value of Fixed Maturity Securities AFS	176,480	181,340
Fixed Maturity Securities AFS
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Gain	20,539	25,604
Gross Unrealized Temporary Loss	669	636
U.S. corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	50,805	50,989
Allowance for Credit Loss for Debt Securities	(39)	(43)
Gross Unrealized Gain	8,023	9,618
Gross Unrealized Temporary Loss	137	155
Estimated Fair Value of Fixed Maturity Securities AFS	58,652	60,409
Foreign corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	27,508	28,093
Allowance for Credit Loss for Debt Securities	(14)	(8)
Gross Unrealized Gain	3,423	4,478
Gross Unrealized Temporary Loss	246	284
Estimated Fair Value of Fixed Maturity Securities AFS	30,671	32,279
U.S. government and agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	27,224	24,620
Allowance for Credit Loss for Debt Securities	0	0
Gross Unrealized Gain	4,460	6,178
Gross Unrealized Temporary Loss	104	27
Estimated Fair Value of Fixed Maturity Securities AFS	31,580	30,771
RMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	21,861	22,552
Allowance for Credit Loss for Debt Securities	0	0
Gross Unrealized Gain	1,452	1,706
Gross Unrealized Temporary Loss	85	32
Estimated Fair Value of Fixed Maturity Securities AFS	23,228	24,226
ABS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	11,750	12,456
Allowance for Credit Loss for Debt Securities	0	0
Gross Unrealized Gain	160	169
Gross Unrealized Temporary Loss	17	50
Estimated Fair Value of Fixed Maturity Securities AFS	11,893	12,575
Municipals
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,862	6,888
Allowance for Credit Loss for Debt Securities	0	0
Gross Unrealized Gain	1,894	2,096
Gross Unrealized Temporary Loss	4	1
Estimated Fair Value of Fixed Maturity Securities AFS	8,752	8,983
CMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,402	6,503
Allowance for Credit Loss for Debt Securities	(6)	0
Gross Unrealized Gain	337	381
Gross Unrealized Temporary Loss	25	55
Estimated Fair Value of Fixed Maturity Securities AFS	6,708	6,829
Foreign government
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,257	4,322
Allowance for Credit Loss for Debt Securities	0	0
Gross Unrealized Gain	790	978
Gross Unrealized Temporary Loss	51	32
Estimated Fair Value of Fixed Maturity Securities AFS	$ 4,996	$ 5,268

Investments (Maturities of Fixe

Investments (Maturities of Fixed Maturity Securities) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Available-for-sale Securities, Debt Maturities [Abstract]
Amortized Cost, Due in one year or less	$ 6,251
Amortized Cost, Due after one year through five years	26,239
Amortized Cost, Due after five years through ten years	27,280
Amortized Cost, Due after ten years	56,833
Amortized Cost, Structured Securities	40,007
Amortized Cost net of ACL	156,610
Estimated Fair Value, Due in one year or less	6,272
Estimated Fair Value, Due after one year through five years	27,461
Estimated Fair Value, Due after five years through ten years	30,775
Estimated Fair Value, Due after ten years	70,143
Estimated Fair Value, Structured Securities	41,829
Estimated Fair Value of Fixed Maturity Securities AFS	$ 176,480	$ 181,340

Investments (Continuous Gross U

Investments (Continuous Gross Unrealized Losses for Fixed Maturity Securities Available For Sale) Details (Details) $ in Millions	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	$ 17,901	$ 11,419
Less than 12 months Gross Unrealized Loss	$ 423	$ 450
Total number of securities in an unrealized loss position less than 12 months	1,209	984
Equal to or Greater than 12 Months Estimated Fair Value	$ 3,237	$ 3,046
Equal to or Greater than 12 Months Gross Unrealized Loss	$ 240	$ 180
Total number of securities in an unrealized loss position equal or greater than 12 months	431	385
U.S. corporate
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	$ 2,548	$ 2,351
Less than 12 months Gross Unrealized Loss	71	112
Equal to or Greater than 12 Months Estimated Fair Value	807	230
Equal to or Greater than 12 Months Gross Unrealized Loss	61	36
Foreign corporate
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	2,338	2,431
Less than 12 months Gross Unrealized Loss	147	225
Equal to or Greater than 12 Months Estimated Fair Value	623	34
Equal to or Greater than 12 Months Gross Unrealized Loss	99	59
U.S. government and agency
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	5,963	1,686
Less than 12 months Gross Unrealized Loss	104	27
Equal to or Greater than 12 Months Estimated Fair Value	0	0
Equal to or Greater than 12 Months Gross Unrealized Loss	0	0
RMBS
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	3,967	1,119
Less than 12 months Gross Unrealized Loss	69	20
Equal to or Greater than 12 Months Estimated Fair Value	405	128
Equal to or Greater than 12 Months Gross Unrealized Loss	16	12
ABS
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	2,153	2,561
Less than 12 months Gross Unrealized Loss	5	18
Equal to or Greater than 12 Months Estimated Fair Value	860	2,233
Equal to or Greater than 12 Months Gross Unrealized Loss	12	32
Municipals
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	175	51
Less than 12 months Gross Unrealized Loss	4	1
Equal to or Greater than 12 Months Estimated Fair Value	3	0
Equal to or Greater than 12 Months Gross Unrealized Loss	0	0
CMBS
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	476	1,110
Less than 12 months Gross Unrealized Loss	8	41
Equal to or Greater than 12 Months Estimated Fair Value	418	306
Equal to or Greater than 12 Months Gross Unrealized Loss	17	14
Foreign government
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	281	110
Less than 12 months Gross Unrealized Loss	15	6
Equal to or Greater than 12 Months Estimated Fair Value	121	115
Equal to or Greater than 12 Months Gross Unrealized Loss	35	27
Investment Grade
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	16,396	9,012
Less than 12 months Gross Unrealized Loss	377	297
Equal to or Greater than 12 Months Estimated Fair Value	2,233	2,841
Equal to or Greater than 12 Months Gross Unrealized Loss	153	158
Below Investment Grade
Debt Securities, Available-for-sale [Line Items]
Less than 12 months Estimated Fair Value	1,505	2,407
Less than 12 months Gross Unrealized Loss	46	153
Equal to or Greater than 12 Months Estimated Fair Value	1,004	205
Equal to or Greater than 12 Months Gross Unrealized Loss	$ 87	$ 22

Investments (Mortgage Loans by

Investments (Mortgage Loans by Portfolio Segment) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage Loans, Gross	$ 63,154	$ 66,757
Allowance for Credit Loss	(495)	(517)
Subtotal mortgage loans, net	62,659	66,240
Residential mortgage loans — FVO	$ 62,799	$ 66,405
Percentage Of mortgage total recorded investment To Mortgage Loans On Real Estate Commercial and Consumer Net	100.60%	100.50%
Percentage of Allowance for Credit Losses to Mortgage Loans On Real Estate Commercial And Consumer Net	(0.80%)	(0.80%)
Percentage Of Mortgage Loans Held For Investment Net To Mortgage Loans On Real Estate Commercial And Consumer Net	99.80%	99.70%
Percentage Of Loans And Leases Receivable Consumer Other To Mortgage Loans On Real Estate Commercial And Consumer Net	0.20%	0.30%
Percentage Of Mortgage Loans On Real Estate To Mortgage Loans On Real Estate Commercial And Consumer Net	100.00%	100.00%
Residential mortgage loans - FVO
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential mortgage loans — FVO	$ 140	$ 165
Agricultural Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage Loans, Gross	$ 15,827	$ 16,426
Percentage Of Mortgage Loans, Gross	25.20%	24.70%
Commercial Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage Loans, Gross	$ 36,828	$ 38,528
Percentage Of Mortgage Loans, Gross	58.70%	58.00%
Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage Loans, Gross	$ 10,499	$ 11,803
Percentage Of Mortgage Loans, Gross	16.70%	17.80%

Investments (Mortgage Loans All

Investments (Mortgage Loans Allowance for Credit Loss Rollforward by Portfolio Segment) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance, beginning of period	$ 517	$ 289
Provision (release)	(10)	100
Adoption of new credit loss guidance	0	99
Initial credit losses on PCD loans (1)	2	16
Charge-offs, net of recoveries	(14)	(7)
Balance, end of period	495	497
Commercial Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance, beginning of period	199	186
Provision (release)	17	36
Adoption of new credit loss guidance	0	(87)
Initial credit losses on PCD loans (1)	0	0
Charge-offs, net of recoveries	0	0
Balance, end of period	216	135
Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance, beginning of period	221	54
Provision (release)	(20)	59
Adoption of new credit loss guidance	0	154
Initial credit losses on PCD loans (1)	2	16
Charge-offs, net of recoveries	(1)	(5)
Balance, end of period	202	278
Agricultural Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance, beginning of period	97	49
Provision (release)	(7)	5
Adoption of new credit loss guidance	0	32
Initial credit losses on PCD loans (1)	0	0
Charge-offs, net of recoveries	(13)	(2)
Balance, end of period	$ 77	$ 84

Investments (Credit Quality of

Investments (Credit Quality of Commercial Mortgage Loans) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans, Gross	$ 63,154	$ 66,757
Commercial Mortgage Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	1,687
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	4,177
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	5,251
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	5,392
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	4,385
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	13,956
Financing Receivable, Revolving	1,980
Mortgage Loans, Gross	$ 36,828	$ 38,528
Loans Receivable Commercial Mortgage Percentage	100.00%
Commercial Mortgage Loans | Greater than 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 1,612
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	3,662
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	4,978
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	5,367
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	3,883
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	12,620
Financing Receivable, Revolving	1,980
Mortgage Loans, Gross	$ 34,102
Loans Receivable Commercial Mortgage Percentage	92.60%
Commercial Mortgage Loans | 1.00x - 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 26
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	259
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	25
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	133
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	709
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 1,152
Loans Receivable Commercial Mortgage Percentage	3.10%
Commercial Mortgage Loans | Less than 1.00x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 49
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	256
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	273
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	369
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	627
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 1,574
Loans Receivable Commercial Mortgage Percentage	4.30%
Commercial Mortgage Loans | Less than 65%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 1,120
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	3,255
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,185
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	3,614
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	2,681
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	10,350
Financing Receivable, Revolving	1,980
Mortgage Loans, Gross	$ 25,185
Loans Receivable Commercial Mortgage Percentage	68.40%
Commercial Mortgage Loans | 65% to 75%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 515
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	922
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,873
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	1,665
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	1,067
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	2,176
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 9,218
Loans Receivable Commercial Mortgage Percentage	25.00%
Commercial Mortgage Loans | 76% to 80%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 47
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	193
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	64
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	388
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	451
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 1,143
Loans Receivable Commercial Mortgage Percentage	3.10%
Commercial Mortgage Loans | Greater than 80%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 5
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	49
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	249
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	979
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 1,282
Loans Receivable Commercial Mortgage Percentage	3.50%

Investments (Credit Quality o_2

Investments (Credit Quality of Agricultural and Residential Mortgage Loans) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans, Gross	$ 63,154	$ 66,757
Mortgage Loans in Process of Foreclosure, Amount	82	102
Residential Mortgage Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	1
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	240
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,220
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	711
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	272
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	8,055
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 10,499	11,803
Loans Receivable Residential Mortgage Percentage	100.00%
Residential Mortgage Loans | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 1
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	239
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,170
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	698
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	270
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	7,677
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 10,055
Loans Receivable Residential Mortgage Percentage	95.80%
Residential Mortgage Loans | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	1
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	50
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	13
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	2
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	378
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 444
Loans Receivable Residential Mortgage Percentage	4.20%
Agricultural Mortgage Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 650
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	2,654
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,052
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	2,578
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	974
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	5,976
Financing Receivable, Revolving	943
Mortgage Loans, Gross	$ 15,827	$ 16,426
Loans Receivable Agricultural Mortgage Percentage	100.00%
Agricultural Mortgage Loans | Less than 65%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 498
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	2,311
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,781
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	2,536
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	937
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	5,345
Financing Receivable, Revolving	846
Mortgage Loans, Gross	$ 14,254
Loans Receivable Agricultural Mortgage Percentage	90.10%
Agricultural Mortgage Loans | 65% to 75%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 152
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	343
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	137
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	42
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	37
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	578
Financing Receivable, Revolving	97
Mortgage Loans, Gross	$ 1,386
Loans Receivable Agricultural Mortgage Percentage	8.70%
Agricultural Mortgage Loans | 76% to 80%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	11
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 11
Loans Receivable Agricultural Mortgage Percentage	0.10%
Agricultural Mortgage Loans | Greater than 80%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	$ 0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	134
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	42
Financing Receivable, Revolving	0
Mortgage Loans, Gross	$ 176
Loans Receivable Agricultural Mortgage Percentage	1.10%

Investments (Past Due and Inter

Investments (Past Due and Interest Accrual Status of Mortgage Loans) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Nonaccrual [Line Items]
Mortgage Loans, Gross	$ 63,154	$ 66,757
Greater than 90 Days Past Due and Still Accruing Interest	5	74
Financing Receivable, Nonaccrual	856	1,057
Financial Asset, Past Due
Financing Receivable, Nonaccrual [Line Items]
Mortgage Loans, Gross	671	767
Agricultural Mortgage Loans
Financing Receivable, Nonaccrual [Line Items]
Mortgage Loans, Gross	15,827	16,426
Greater than 90 Days Past Due and Still Accruing Interest	3	20
Financing Receivable, Nonaccrual	259	261	$ 137
Agricultural Mortgage Loans | Financial Asset, Past Due
Financing Receivable, Nonaccrual [Line Items]
Mortgage Loans, Gross	227	251
Commercial Mortgage Loans
Financing Receivable, Nonaccrual [Line Items]
Mortgage Loans, Gross	36,828	38,528
Greater than 90 Days Past Due and Still Accruing Interest	0	0
Financing Receivable, Nonaccrual	154	293	167
Commercial Mortgage Loans | Financial Asset, Past Due
Financing Receivable, Nonaccrual [Line Items]
Mortgage Loans, Gross	0	0
Residential Mortgage Loans
Financing Receivable, Nonaccrual [Line Items]
Mortgage Loans, Gross	10,499	11,803
Greater than 90 Days Past Due and Still Accruing Interest	2	54
Financing Receivable, Nonaccrual	443	503	$ 377
Residential Mortgage Loans | Financial Asset, Past Due
Financing Receivable, Nonaccrual [Line Items]
Mortgage Loans, Gross	$ 444	$ 516

Investments (Real Estate and Re

Investments (Real Estate and Real Estate Joint Ventures) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Real Estate [Line Items]
Leased real estate investments, Carrying Value	$ 1,990		$ 1,990		$ 1,965
Other real estate investments, Carrying Value	440		440		418
Real estate joint ventures, Carrying Value	5,238		5,238		5,095
Real estate and real estate joint ventures relating to variable interest entities	7,668		7,668		$ 7,478
Income (Loss) from Equity Method Investments	679	$ (482)	1,500	$ (284)
Real estate and real estate joint ventures
Real Estate [Line Items]
Gross Investment Income, Operating	130	35	224	122
Leased real estate investments
Real Estate [Line Items]
Operating Lease, Lease Income	53	47	107	93
Other real estate investments
Real Estate [Line Items]
Operating Lease, Lease Income	46	15	80	49
Real estate joint ventures
Real Estate [Line Items]
Income (Loss) from Equity Method Investments	$ 31	$ (27)	$ 37	$ (20)

Investments (Net Unrealized Inv

Investments (Net Unrealized Investment Gains Losses) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Components of net unrealized investment gains (losses) included in accumulated other comprehensive income
Fixed maturity securities AFS	$ 19,862	$ 24,954
Derivatives	1,789	2,259
Other	221	235
Subtotal	21,872	27,448
Policyholder liabilities	(7,402)	(10,572)
DAC, VOBA and DSI	(1,416)	(1,511)
Subtotal	(8,818)	(12,083)
Deferred income tax benefit (expense)	(2,697)	(3,190)
Net unrealized investment gains (losses)	$ 10,357	$ 12,175

Investments (Changes in Net Unr

Investments (Changes in Net Unrealized Investment Gains Losses) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Changes In Net Unrealized Investment Gains Losses Included In Accumulated Other Comprehensive Loss [Abstract]
Balance, beginning of period	$ 12,175
Unrealized investment gains (losses) during the period	(5,576)
Unrealized investment gains (losses) relating to:
Policyholder liabilities	3,170
DAC, VOBA and DSI	95
Deferred income tax benefit (expense)	493
Balance, end of period	10,357
Change in net unrealized investment gains (losses)	$ (1,818)

Investments (Securities Lending

Investments (Securities Lending and Repurchase Agreements) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	$ 14,659	$ 13,566
Reinvestment portfolio - estimated fair value	14,737	13,739
Security collateral on deposit from counterparties	27	1
Estimated fair value
Securities Financing Transaction [Line Items]
Securities loaned	14,388	13,289
Repurchase Agreements
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	3,460	3,210
Reinvestment portfolio - estimated fair value	3,497	3,251
Repurchase Agreements | Estimated fair value
Securities Financing Transaction [Line Items]
Securities Sold under Agreements to Repurchase	$ 3,551	$ 3,276

Investments (Securities Lendi_2

Investments (Securities Lending and Repurchase Agreements Remaining Tenor) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	$ 14,659	$ 13,566
U.S. government and agency
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	14,659	13,566
Open (1) | U.S. government and agency
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	3,071	1,705
1 Month or Less | U.S. government and agency
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	6,485	8,768
Over 1 Month to 6 Months | U.S. government and agency
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	5,103	3,093
Repurchase Agreements
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	3,460	3,210
Repurchase Agreements | U.S. government and agency
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	3,460	3,210
Repurchase Agreements | Open (1) | U.S. government and agency
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	0	0
Repurchase Agreements | 1 Month or Less | U.S. government and agency
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	3,460	3,210
Repurchase Agreements | Over 1 Month to 6 Months | U.S. government and agency
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	$ 0	$ 0

Investments (Invested Assets on

Investments (Invested Assets on Deposit and Pledged as Collateral) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Invested assets on deposit (regulatory deposits)	$ 120	$ 123
Invested assets pledged as collateral (1)	21,682	22,405
Total invested assets on deposit and pledged as collateral	$ 21,802	$ 22,528

Investments (Consolidated Varia

Investments (Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Assets	$ 452,565	$ 457,607
Liabilities	418,905	422,749
Consolidated Entities [Member] | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	1,545	1,727
Liabilities	1	5
Real estate joint ventures | Variable Interest Entity, Primary Beneficiary | Affiliated Entity [Member]
Variable Interest Entity [Line Items]
Assets	126	130
Real estate joint ventures | Variable Interest Entity, Primary Beneficiary | Total Metropolitan Life Insurance Company Stockholder’s Equity
Variable Interest Entity [Line Items]
Assets	1,000	1,300
Real estate joint ventures | Consolidated Entities [Member] | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	1,150	1,435
Liabilities	0	0
Mortgage loans | Variable Interest Entity, Primary Beneficiary | Affiliated Entity [Member]
Variable Interest Entity [Line Items]
Assets	38	37
Mortgage loans | Variable Interest Entity, Primary Beneficiary | Total Metropolitan Life Insurance Company Stockholder’s Equity
Variable Interest Entity [Line Items]
Assets	172	164
Mortgage loans | Consolidated Entities [Member] | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	210	201
Liabilities	0	0
Other | Consolidated Entities [Member] | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	103	4
Liabilities	1	5
Renewable energy partnership | Consolidated Entities [Member] | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	82	87
Liabilities	$ 0	$ 0

Investments (Unconsolidated Var

Investments (Unconsolidated Variable Interest Entities) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Assets	$ 452,565	$ 457,607
Tax Credits Guaranteed By Third Parties Amount That Reduces Maximum Exposure To Loss Related To Other Invested Assets	3	3
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	50,838	50,409
Maximum Exposure to Loss	54,176	53,835
Fixed maturity securities AFS | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	42,521	43,708
Maximum Exposure to Loss	42,521	43,708
Other limited partnership interests | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	6,754	5,247
Maximum Exposure to Loss	9,935	8,589
Other invested assets | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	1,544	1,436
Maximum Exposure to Loss	1,698	1,517
Real estate joint ventures | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	19	18
Maximum Exposure to Loss	$ 22	$ 21

Investments (Net Investment Inc

Investments (Net Investment Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net Investment Income [Line Items]
Less: Investment expenses	$ 159	$ 162	$ 311	$ 387
Net investment income	3,034	2,005	6,221	4,649
Securities investment
Net Investment Income [Line Items]
Gross Investment Income, Operating	3,193	2,167	6,532	5,036
Fixed maturity securities AFS
Net Investment Income [Line Items]
Gross Investment Income, Operating	1,534	1,636	3,054	3,294
Equity Securities
Net Investment Income [Line Items]
Gross Investment Income, Operating	7	5	12	14
Mortgage loans
Net Investment Income [Line Items]
Gross Investment Income, Operating	695	705	1,372	1,423
Policy loans
Net Investment Income [Line Items]
Gross Investment Income, Operating	75	76	149	153
Real estate and real estate joint ventures
Net Investment Income [Line Items]
Gross Investment Income, Operating	130	35	224	122
Other limited partnership interests
Net Investment Income [Line Items]
Net investment income	689	(391)	1,577	(176)
Cash, cash equivalents and short-term investments
Net Investment Income [Line Items]
Gross Investment Income, Operating	2	18	5	61
FVO securities (1)
Net Investment Income [Line Items]
Net investment income	35	36	61	2
FVO securities, Change in Unrealized Holding Gain (Loss)	33	36	39	2
Operating joint venture
Net Investment Income [Line Items]
Gross Investment Income, Operating	16	26	33	47
Other
Net Investment Income [Line Items]
Gross Investment Income, Operating	$ 10	$ 21	$ 45	$ 96

Investments (Components of Net

Investments (Components of Net Investment Gains Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other net investment gains (losses):
Mortgage loans	$ (45)	$ (92)	$ 16	$ (137)
Real estate and real estate joint ventures	368	2	416	3
Other limited partnership interests	(9)	0	(14)	0
Other (2)	19	151	48	181
Subtotal - investment portfolio gains (losses)	353	96	482	(135)
Change In Estimated Fair Value Of Other Limited Partnership Interests And Real Estate Joint Ventures	6	(13)	14	(12)
Non-investment portfolio gains (losses)	(17)	(27)	6	21
Subtotal	(11)	(40)	20	9
Net investment gains (losses)	342	56	502	(126)
Changes In Estimated Fair Value Subsequent To Purchase For Equity Securities	19	31	32	(92)
Fixed maturity securities AFS
Marketable Securities, Gain (Loss) [Abstract]
Net investment gains (losses)	(6)	(4)	(29)	(85)
Equity securities
Marketable Securities, Gain (Loss) [Abstract]
Net investment gains (losses)	26	39	45	(97)
Cash Flow Hedging [Member]
Other net investment gains (losses):
Net investment gains (losses)	21	85	44	97
Currency Swap [Member] | Cash Flow Hedging [Member]
Other net investment gains (losses):
Net investment gains (losses)	108	266	(8)	(185)
Reclassification out of Accumulated Other Comprehensive Income | Currency Swap [Member] | Foreign Currency Gain (Loss) [Member] | Cash Flow Hedging [Member]
Other net investment gains (losses):
Net investment gains (losses)	$ 19	$ 43	$ 48	$ 55

Investments (Sales or Disposals

Investments (Sales or Disposals and Impairments of Fixed Maturity AFS) (Details) - Fixed maturity securities AFS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Securities, Available-for-sale [Line Items]
Proceeds	$ 4,757	$ 5,533	$ 11,844	$ 10,997
Gross investment gains	34	185	108	246
Gross investment losses	(34)	(178)	(116)	(243)
Current expected credit loss recognized in earnings	(6)	(11)	(21)	(88)
Net investment gains (losses)	$ (6)	$ (4)	$ (29)	$ (85)

Investments (Recurring Related

Investments (Recurring Related Party Investments Transactions) (Details) $ in Millions, ¥ in Billions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021JPY (¥)	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Other Investments	$ 17,468		$ 17,468			$ 17,723
Minimum
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.60%		1.60%		1.60%
Maximum
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.14%		3.14%		3.14%
Metlife Inc
Related Party Transaction [Line Items]
Other Investments	$ 1,526		$ 1,526			1,643
Related Party Transaction, Other Revenues from Transactions with Related Party	$ 8	$ 9	$ 16	$ 18
Metlife Inc | Related Party Loan 1 - Matured in July 2021
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.97%		2.97%		2.97%
Debt Instrument, Face Amount	$ 351		$ 351		¥ 38.4
Metlife Inc | Related Party Loan 2 - Issued in July 2021, Maturing July 2026
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.61%		1.61%		1.61%
Debt Instrument, Face Amount | ¥					¥ 7.8
Metlife Inc | Related Party Loan 3 - Issued in July 2021, Maturing July 2028
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.76%		1.76%		1.76%
Debt Instrument, Face Amount | ¥					¥ 11.5
Metlife Inc | Related Party Loan 4 - Issued in July 2021, Maturing July 2031
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.85%		1.85%		1.85%
Debt Instrument, Face Amount | ¥					¥ 19.1
American Life Insurance Company
Related Party Transaction [Line Items]
Other Investments	$ 100		$ 100			100
Related Party Transaction, Other Revenues from Transactions with Related Party	$ 0	1	$ 1	2
Debt Instrument, Interest Rate, Stated Percentage	1.88%		1.88%		1.88%
Metropolitan Property And Casualty Insurance Company
Related Party Transaction [Line Items]
Other Investments	$ 0		$ 0			315
Related Party Transaction, Other Revenues from Transactions with Related Party	0	2	1	4
Affiliated Entity
Related Party Transaction [Line Items]
Assets Transferred To Affiliates, Estimated Fair Value	53	0	303	0
Transfers of Financial Assets Accounted for as Sale, Amortized Cost of Assets Obtained as Proceeds	51	0	300	0
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale, Gain (Loss) on Sale	2	0	3	0
Assets Transferred From Affiliates Estimated Fair Value	165	0	644	0
Other Investments	1,626		1,626			$ 2,058
Affiliated Entity | Other
Related Party Transaction [Line Items]
Related Party Transaction, Other Revenues from Transactions with Related Party	$ 8	$ 12	$ 18	$ 24

Investments (Evaluation of Fixe

Investments (Evaluation of Fixed Maturity Securities AFS in an Unrealized Loss Position - Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 663
Equal to or Greater than 12 Months Gross Unrealized Loss	240	$ 180
Investment Grade
Debt Securities, Available-for-sale [Line Items]
Equal to or Greater than 12 Months Gross Unrealized Loss	153	158
Below Investment Grade
Debt Securities, Available-for-sale [Line Items]
Equal to or Greater than 12 Months Gross Unrealized Loss	87	$ 22
Fixed maturity securities without an allowance for credit loss
Debt Securities, Available-for-sale [Line Items]
Change in Gross Unrealized Temporary Loss	$ 33
Twelve Months Or Greater
Debt Securities, Available-for-sale [Line Items]
Percentage of gross unrealized loss	36.00%
Twelve Months Or Greater | Investment Grade
Debt Securities, Available-for-sale [Line Items]
Percentage of gross unrealized loss	64.00%
Number of Securities	313
Twelve Months Or Greater | Below Investment Grade
Debt Securities, Available-for-sale [Line Items]
Percentage of gross unrealized loss	36.00%
Number of Securities	118

Investments (Mortgage Loans - N

Investments (Mortgage Loans - Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	$ 817		$ 817		$ 924
Financing Receivable, Purchase	$ 461	$ 134	$ 838	$ 1,200
Percentage of Mortgage Loans Classified as Performing	99.00%		99.00%		99.00%
Financing Receivable, Nonaccrual	$ 856		$ 856		$ 1,057
Mortgage Loans, Gross	$ 63,154		$ 63,154		66,757
Percentage of mortgage loans with LTV ratio in excess of 100%	1.00%		1.00%
Mortgage Loans with LTV ratio in excess of 100% [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage Loans, Gross	$ 548		$ 548
Commercial Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Receivable	152		152		164
Deferred mortgage loan interest and principal payments due to COVID-19	21		21
Financing Receivable, Nonaccrual	154		154		293	$ 167
Financing Receivable, Nonaccrual, No Allowance	0		0		156
Mortgage Loans, Gross	36,828		36,828		38,528
Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Receivable	91		91		101
Deferred mortgage loan interest and principal payments due to COVID-19	31		31
Financing Receivable, Nonaccrual	443		443		503	377
Financing Receivable, Nonaccrual, No Allowance	0		0		0
Mortgage Loans, Gross	10,499		10,499		11,803
Agricultural Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Receivable	137		137		158
Deferred mortgage loan interest and principal payments due to COVID-19	4		4
Financing Receivable, Nonaccrual	259		259		261	$ 137
Financing Receivable, Nonaccrual, No Allowance	192		192		173
Mortgage Loans, Gross	$ 15,827		$ 15,827		$ 16,426

Investments (Real Estate and _2

Investments (Real Estate and Real Estate Joint Ventures - Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Real Estate [Line Items]
Real Estate Acquired Through Foreclosure	$ 183		$ 183		$ 18
Real Estate Investment Property, Net	618		618		$ 789
Real estate and real estate joint ventures
Real Estate [Line Items]
Depreciation	$ 22	$ 19	$ 43	$ 35

Investments (Leveraged and Dire

Investments (Leveraged and Direct Financing Leases - Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Loans and Leases Receivable, Other Information	The payment periods for leveraged leases generally range from one to 11 years, but in certain circumstances can be over 11 years, while the payment periods for direct financing leases generally range from one to 16 years.
Leveraged Leases, Net Investment in Leveraged Leases Disclosure, Investment in Leveraged Leases, Net	$ 796	$ 816
Direct Financing Lease, Net Investment in Lease	172	176
Leveraged and Direct Financing Leases, Allowance for credit loss	$ 35	$ 38

Investments (Cash Equivalents -

Investments (Cash Equivalents - Narrative) (Details) - USD ($) $ in Billions	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Cash equivalents	$ 9.4	$ 6.8

Investments (Concentrations of

Investments (Concentrations of Credit Risk - Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Fair Value, Concentration of Risk, Investments	$ 0	$ 0

Investments (Invested Assets _2

Investments (Invested Assets on Deposits and Pledged as Collateral - Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Federal Home Loan Bank Stock	$ 740	$ 765

Investments (Net Investment I_2

Investments (Net Investment Income - Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Income (Loss) from Equity Method Investments	$ 679	$ (482)	$ 1,500	$ (284)

Investments (Net Investment Gai

Investments (Net Investment Gains Losses - Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Gains (losses) from foreign currency transactions	$ (14)	$ (15)	$ 19	$ 33

Investments (Related Party Inve

Investments (Related Party Investment Transactions - Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Costs and Expenses, Related Party	$ 73	$ 68	$ 144	$ 137

Derivatives (Primary Risks) (De

Derivatives (Primary Risks) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	$ 8,548	$ 9,318
Estimated Fair Value Liabilities	1,670	2,261
Derivative, Notional Amount	224,062	193,672
Derivatives Designated as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	3,351	4,834
Estimated Fair Value Liabilities	1,179	1,433
Derivative, Notional Amount	42,617	41,722
Derivatives Designated as Hedging Instruments: | Fair Value Hedges [Member]
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	2,168	3,229
Estimated Fair Value Liabilities	61	80
Derivative, Notional Amount	4,439	4,224
Derivatives Designated as Hedging Instruments: | Fair Value Hedges [Member] | Interest rate swaps
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	2,165	3,224
Estimated Fair Value Liabilities	3	4
Derivative, Notional Amount	3,571	3,175
Derivatives Designated as Hedging Instruments: | Fair Value Hedges [Member] | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	3	5
Estimated Fair Value Liabilities	58	76
Derivative, Notional Amount	868	1,049
Derivatives Designated as Hedging Instruments: | Cash Flow Hedges [Member]
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	1,183	1,605
Estimated Fair Value Liabilities	1,118	1,353
Derivative, Notional Amount	38,178	37,498
Derivatives Designated as Hedging Instruments: | Cash Flow Hedges [Member] | Interest rate swaps
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	5	14
Estimated Fair Value Liabilities	0	0
Derivative, Notional Amount	4,129	4,400
Derivatives Designated as Hedging Instruments: | Cash Flow Hedges [Member] | Interest rate forwards
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	69	489
Estimated Fair Value Liabilities	18	0
Derivative, Notional Amount	4,103	5,081
Derivatives Designated as Hedging Instruments: | Cash Flow Hedges [Member] | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	1,109	1,102
Estimated Fair Value Liabilities	1,100	1,353
Derivative, Notional Amount	29,946	28,017
Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	5,197	4,484
Estimated Fair Value Liabilities	491	828
Derivative, Notional Amount	181,445	151,950
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Interest rate swaps
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	3,457	3,041
Estimated Fair Value Liabilities	4	7
Derivative, Notional Amount	23,720	30,512
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Interest rate forwards
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	0	0
Estimated Fair Value Liabilities	33	9
Derivative, Notional Amount	265	265
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Interest rate floors
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	241	350
Estimated Fair Value Liabilities	0	0
Derivative, Notional Amount	12,201	12,701
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Interest rate caps
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	60	13
Estimated Fair Value Liabilities	0	0
Derivative, Notional Amount	75,364	40,104
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Interest rate futures
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	0	0
Estimated Fair Value Liabilities	1	0
Derivative, Notional Amount	775	406
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Interest rate options
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	404	174
Estimated Fair Value Liabilities	11	0
Derivative, Notional Amount	11,316	15,337
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Synthetic GICs
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	0	0
Estimated Fair Value Liabilities	0	0
Derivative, Notional Amount	11,405	11,739
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	255	292
Estimated Fair Value Liabilities	170	238
Derivative, Notional Amount	4,750	5,596
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	25	9
Estimated Fair Value Liabilities	1	18
Derivative, Notional Amount	1,411	1,236
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Credit default swaps — purchased
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	11	8
Estimated Fair Value Liabilities	5	9
Derivative, Notional Amount	918	886
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Credit default swaps — written
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	122	126
Estimated Fair Value Liabilities	6	0
Derivative, Notional Amount	6,674	6,961
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Equity futures
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	0	0
Estimated Fair Value Liabilities	2	16
Derivative, Notional Amount	1,614	2,591
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Equity index options
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	594	459
Estimated Fair Value Liabilities	172	189
Derivative, Notional Amount	27,724	19,601
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Equity variance swaps
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	12	11
Estimated Fair Value Liabilities	10	9
Derivative, Notional Amount	425	425
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Equity Total Return Swaps [Member]
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	1	1
Estimated Fair Value Liabilities	54	274
Derivative, Notional Amount	1,835	2,542
Derivatives Not Designated or Not Qualifying as Hedging Instruments: | Equity total return swaps
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	15	0
Estimated Fair Value Liabilities	22	59
Derivative, Notional Amount	$ 1,048	$ 1,048

Derivatives Derivatives (Effect

Derivatives Derivatives (Effects on the Consolidated Statement of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net	$ 6	$ 31	$ 6	$ 32
Derivative, Gain (Loss) on Derivative, Net	25	(793)	(990)	2,762
Net Investment Income	3,034	2,005	6,221	4,649
Net policyholder benefits and claims	(7,129)	(5,423)	(13,708)	(11,102)
Interest credited to policyholder account balances	(512)	(571)	(1,023)	(1,182)
Net investment gains (losses)	342	56	502	(126)
Nonperformance Risk [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net derivatives gains (losses)	3	(46)	(15)	65
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0	0
Net Investment Income	15	9	29	15
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	21	85	44	97
Other Comprehensive Income (Loss), before Tax	717	(732)	(470)	2,998
Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0	0
Net Investment Income	1	2	2	3
Net policyholder benefits and claims	(5)	(14)	(34)	(9)
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Fixed Maturities [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	(181)		(181)		$ (1)
Interest rate contracts | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0	0
Net Investment Income	14	9	27	15
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	19	42	48	48
Other Comprehensive Income (Loss), before Tax	(33)	(51)	(75)	(63)
Currency Swap [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0	0
Net Investment Income	1	0	2	0
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	108	266	(8)	(185)
Other Comprehensive Income (Loss), before Tax	(109)	(266)	6	185
Foreign Currency Gain (Loss) [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0	0
Net Investment Income	0	0	0	0
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	(106)	(223)	4	234
Other Comprehensive Income (Loss), before Tax	0	0	0	0
Derivative [Member] | Currency Swap [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0	0
Net Investment Income	(2)	(5)	11	64
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Derivative [Member] | Interest Rate Swap [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0	0
Net Investment Income	0	(1)	3	(11)
Net policyholder benefits and claims	(237)	31	365	(743)
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Fixed Maturity Securities AFS | Currency Swap [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0	0
Net Investment Income	2	4	(10)	(58)
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Fixed Maturity Securities AFS | Interest Rate Swap [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0	0
Net Investment Income	1	4	(2)	8
Net policyholder benefits and claims	(242)	17	331	(752)
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Accumulated Other Comprehensive Income (Loss) | Credit forwards [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), before Tax	0	0	0	0
Accumulated Other Comprehensive Income (Loss) | Currency Swap [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), before Tax	351	(305)	302	984
Accumulated Other Comprehensive Income (Loss) | Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), before Tax	508	(110)	(703)	1,892
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	117	(851)	(1,958)	3,697
Net Investment Income	(1)	(2)	0	(6)
Net policyholder benefits and claims	(92)	(78)	(182)	53
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Equity Market Risk [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(270)	(783)	(827)	298
Net Investment Income	(1)	0	(2)	0
Net policyholder benefits and claims	(92)	(78)	(182)	53
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Foreign Currency Gain (Loss) [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(9)	(28)	(12)	(140)
Net Investment Income	0	0	0	0
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Interest Rate Risk [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	358	(57)	(1,187)	3,337
Net Investment Income	0	(2)	2	(6)
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Foreign Exchange [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	24	(85)	43	289
Net Investment Income	0	0	0	0
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Credit Default Swap, Buying Protection [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(8)	(19)	4	26
Net Investment Income	0	0	0	0
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Credit Default Swap, Selling Protection [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	22	121	21	(113)
Net Investment Income	0	0	0	0
Net policyholder benefits and claims	0	0	0	0
Interest credited to policyholder account balances	0	0	0	0
Net investment gains (losses)	0	0	0	0
Net Embedded Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(252)	(86)	634	(1,159)
Net policyholder benefits and claims	0	0	0	0
Nonoperating Income (Expense) [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	160	144	334	224
Net Investment Income	32	74	78	156
Net policyholder benefits and claims	(51)	(43)	(102)	(81)
Interest credited to policyholder account balances	(38)	(38)	(77)	(82)
Net investment gains (losses)	0	0	0	0
Other Comprehensive Income (Loss), before Tax	0	0	0	0
Effects of Derivatives on Consolidated Statements of Operations and Comprehensive Income (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	47	83	109	168
Net policyholder benefits and claims	46	49	114	(125)
Interest credited to policyholder account balances	38	38	77	82
Net investment gains (losses)	21	85	44	97
Other Comprehensive Income (Loss), before Tax	$ 717	$ (732)	$ (470)	$ 2,998

Derivatives (Fair Value Hedges)

Derivatives (Fair Value Hedges) (Details) - Designated as Hedging Instrument [Member] - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Mortgage loans
Derivative Instruments, Gain (Loss) [Line Items]
Debt Instruments, Carrying Amount	$ 766	$ 925
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	(1)	20
Future policy benefits [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Debt Instruments, Carrying Amount	(4,715)	(5,512)
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	(969)	(1,307)
Fixed Maturities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	(181)	(1)
Debt Instruments, Carrying Amount	408	461
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	$ (1)	$ (1)

Derivatives (Credit Derivatives

Derivatives (Credit Derivatives) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 116	$ 126
Maximum Amount of Future Payments under Credit Default Swaps	$ 6,674	$ 6,961
Weighted Average Years to Maturity	4 years 3 months 18 days	4 years 6 months
Credit Risk Derivative Assets, at Fair Value	$ 116
Aaa/Aa/A
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	24	$ 27
Maximum Amount of Future Payments under Credit Default Swaps	$ 1,799	$ 1,833
Weighted Average Years to Maturity	2 years	2 years 4 months 24 days
Aaa/Aa/A | Single name credit default swaps (3)
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 0	$ 0
Maximum Amount of Future Payments under Credit Default Swaps	$ 20	$ 54
Weighted Average Years to Maturity	1 year 8 months 12 days	7 months 6 days
Aaa/Aa/A | Credit default swaps referencing indices
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 24	$ 27
Maximum Amount of Future Payments under Credit Default Swaps	$ 1,779	$ 1,779
Weighted Average Years to Maturity	2 years	2 years 6 months
Baa [Member]
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 97	$ 99
Maximum Amount of Future Payments under Credit Default Swaps	$ 4,840	$ 5,128
Weighted Average Years to Maturity	5 years 2 months 12 days	5 years 2 months 12 days
Baa [Member] | Single name credit default swaps (3)
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 1	$ 2
Maximum Amount of Future Payments under Credit Default Swaps	$ 105	$ 174
Weighted Average Years to Maturity	2 years 4 months 24 days	2 years 1 month 6 days
Baa [Member] | Credit default swaps referencing indices
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 96	$ 97
Maximum Amount of Future Payments under Credit Default Swaps	$ 4,735	$ 4,954
Weighted Average Years to Maturity	5 years 2 months 12 days	5 years 3 months 18 days
Ba
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ (1)	$ 0
Maximum Amount of Future Payments under Credit Default Swaps	$ 20	0
Weighted Average Years to Maturity	4 years 6 months
Ba | Credit default swaps referencing indices
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ (1)	0
Maximum Amount of Future Payments under Credit Default Swaps	$ 20	$ 0
Weighted Average Years to Maturity	4 years 6 months	0 years
Caa3
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ (4)	$ 0
Maximum Amount of Future Payments under Credit Default Swaps	$ 15	0
Weighted Average Years to Maturity	4 years 6 months
Caa3 | Credit default swaps referencing indices
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ (4)	0
Maximum Amount of Future Payments under Credit Default Swaps	$ 15	$ 0
Weighted Average Years to Maturity	4 years 6 months	0 years

Derivatives (Estimated Fair Val

Derivatives (Estimated Fair Value of Derivative Assets and Liabilities after Master Netting Agreements and Cash Collateral) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset Excluding Accruals	$ 8,632	$ 9,383
Derivative Liability, Fair Value, Gross Liability Excluding Accruals	1,660	2,214
Net amount of derivative assets after application of master netting agreements and cash collateral	90	96
Net amount of derivative liabilities after application of master netting agreements and cash collateral	0	8
Over the Counter [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset Excluding Accruals	8,518	9,244
Derivative Liability, Fair Value, Gross Liability Excluding Accruals	1,653	2,192
Gross estimated fair value of derivative assets	(1,615)	(1,996)
Gross estimated fair value of derivative liabilities	(1,615)	(1,996)
Cash collateral on derivative assets	(5,679)	(6,073)
Cash collateral on derivative liabilities	0	0
Securities collateral on derivative assets	(1,151)	(1,115)
Securities collateral on derivative liabilities	(38)	(188)
Exchange Traded [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset Excluding Accruals	0	0
Derivative Liability, Fair Value, Gross Liability Excluding Accruals	3	16
Securities collateral on derivative assets	0	0
Securities collateral on derivative liabilities	(3)	(16)
Cleared [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset Excluding Accruals	114	139
Derivative Liability, Fair Value, Gross Liability Excluding Accruals	4	6
Gross estimated fair value of derivative assets	0	(5)
Gross estimated fair value of derivative liabilities	0	(5)
Cash collateral on derivative assets	(97)	(98)
Cash collateral on derivative liabilities	0	0
Securities collateral on derivative assets	0	0
Securities collateral on derivative liabilities	$ (4)	$ (1)

Derivatives (Credit Risk on Fre

Derivatives (Credit Risk on Freestanding Derivatives) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Credit Derivatives [Line Items]
Derivative, Collateral, Right to Reclaim Cash	$ 0	$ 0
Customer Securities for which Entity has Right to Sell or Repledge, Fair Value of Securities Sold or Repledged	0
Estimated fair value of derivatives in a net liability position (1)
Credit Derivatives [Line Items]
Estimated Fair Value of Derivatives in Net Liability Position	39	196
Estimated fair value of derivatives in a net liability position (1) | Fixed maturity securities AFS
Credit Derivatives [Line Items]
Estimated Fair Value of Collateral Provided	$ 53	$ 239

Derivatives (Embedded Derivativ

Derivatives (Embedded Derivatives) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Embedded derivatives within liability host contracts	$ 1,511	$ 2,061
Direct guaranteed minimum benefits | Policyholder account balances
Derivatives, Fair Value [Line Items]
Embedded derivatives within liability host contracts	159	488
Assumed guaranteed minimum benefits | Policyholder account balances
Derivatives, Fair Value [Line Items]
Embedded derivatives within liability host contracts	4	5
Funds withheld on ceded reinsurance (including affiliated) | Other liabilities
Derivatives, Fair Value [Line Items]
Embedded derivatives within liability host contracts	1,186	1,428
Fixed annuities with equity indexed returns | Policyholder account balances
Derivatives, Fair Value [Line Items]
Embedded derivatives within liability host contracts	0	1
Fixed annuities with equity indexed returns [Member] | Policyholder account balances
Derivatives, Fair Value [Line Items]
Embedded derivatives within liability host contracts	$ 162	$ 139

Derivatives (Narrative) (Detail

Derivatives (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	$ 8,548		$ 8,548		$ 9,318
Estimated Fair Value Liabilities	1,670		1,670		2,261
Maximum Amount of Future Payments under Credit Default Swaps	6,674		6,674		6,961
Credit Risk Derivative Assets, at Fair Value	116		116
Estimated Fair Value of Credit Default Swaps					$ 126
Derivative Instrument Detail [Abstract]
Net amounts reclassified into net derivatives gains (losses) on discontinued cash flow hedges	6	$ 31	$ 6	$ 32
Hedging exposure to variability in future cash flows for specific length of time			8 years		8 years
Accumulated Other Comprehensive Income Loss	1,800		$ 1,800		$ 2,300
Deferred net gains (losses) expected to be reclassified to earnings			(7)
Excess cash collateral received on derivatives	37		37		175
Securities collateral received which the company is permitted to sell or repledge, amount that has been sold or repledged	0		0
Over the Counter [Member]
Derivatives, Fair Value [Line Items]
Cash collateral on derivative assets	(5,679)		(5,679)		(6,073)
Excess securities collateral received on derivatives	29		29		150
Excess securities collateral provided on derivatives	32		32		185
Exchange Traded [Member]
Derivatives, Fair Value [Line Items]
Excess securities collateral received on derivatives	746		746		1,400
Excess securities collateral provided on derivatives	96		96		188
Nonperformance Risk [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Embedded derivative gains (losses)	3	$ (46)	(15)	$ 65
Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Estimated Fair Value Assets	84		84		65
Estimated Fair Value Liabilities	$ (10)		$ (10)		$ (47)

Derivatives Cash Flow Hedges (D

Derivatives Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Maximum Length of Time Hedged in Cash Flow Hedge			8 years		8 years
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net	$ 6	$ 31	$ 6	$ 32

Fair Value (Recurring Fair Valu

Fair Value (Recurring Fair Value Measurements) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	$ 176,480	$ 181,340
Short-term investments	2,132	2,623
Residential mortgage loans — FVO	62,799	66,405
Derivative assets	8,548	9,318
Separate account assets	127,878	128,646
Liabilities [Abstract]
Derivative liabilities	1,670	2,261
Embedded derivatives within liability host contracts	1,511	2,061
Separate account liabilities (2)	127,878	128,646
Residential mortgage loans - FVO
Assets [Abstract]
Residential mortgage loans — FVO	140	165
Recurring
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	176,480	181,340
Short-term investments	2,132	2,623
Other investments	1,331	1,266
Derivative assets	8,548	9,318
Separate account assets	127,878	128,646
Total assets	316,509	323,358
Liabilities [Abstract]
Derivative liabilities	1,670	2,261
Embedded derivatives within liability host contracts	1,511	2,061
Total liabilities	3,201	4,348
Recurring | Interest rate
Assets [Abstract]
Derivative assets	6,416	7,305
Liabilities [Abstract]
Derivative liabilities	92	79
Recurring | Foreign currency exchange rate
Assets [Abstract]
Derivative assets	1,392	1,408
Liabilities [Abstract]
Derivative liabilities	1,329	1,685
Recurring | Credit
Assets [Abstract]
Derivative assets	133	134
Liabilities [Abstract]
Derivative liabilities	11	9
Recurring | Equity market
Assets [Abstract]
Derivative assets	607	471
Liabilities [Abstract]
Derivative liabilities	238	488
Recurring | Separate account liabilities (2)
Liabilities [Abstract]
Separate account liabilities (2)	20	26
Recurring | Residential mortgage loans - FVO
Assets [Abstract]
Residential mortgage loans — FVO	140	165
Recurring | U.S. corporate
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	58,652	60,409
Recurring | U.S. government and agency
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	30,671	30,771
Recurring | Foreign corporate
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	31,580	32,279
Recurring | RMBS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	23,228	24,226
Recurring | ABS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	11,893	12,575
Recurring | Municipals
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	8,752	8,983
Recurring | CMBS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	6,708	6,829
Recurring | Foreign government
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	4,996	5,268
Recurring | Level 1
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	16,195	12,697
Short-term investments	1,838	2,216
Other investments	407	431
Derivative assets	0	0
Separate account assets	29,952	28,296
Total assets	48,392	43,640
Liabilities [Abstract]
Derivative liabilities	3	16
Embedded derivatives within liability host contracts	0	0
Total liabilities	8	28
Recurring | Level 1 | Interest rate
Assets [Abstract]
Derivative assets	0	0
Liabilities [Abstract]
Derivative liabilities	1	0
Recurring | Level 1 | Foreign currency exchange rate
Assets [Abstract]
Derivative assets	0	0
Liabilities [Abstract]
Derivative liabilities	0	0
Recurring | Level 1 | Credit
Assets [Abstract]
Derivative assets	0	0
Liabilities [Abstract]
Derivative liabilities	0	0
Recurring | Level 1 | Equity market
Assets [Abstract]
Derivative assets	0	0
Liabilities [Abstract]
Derivative liabilities	2	16
Recurring | Level 1 | Separate account liabilities (2)
Liabilities [Abstract]
Separate account liabilities (2)	5	12
Recurring | Level 1 | Residential mortgage loans - FVO
Assets [Abstract]
Residential mortgage loans — FVO	0	0
Recurring | Level 1 | U.S. corporate
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	0	0
Recurring | Level 1 | U.S. government and agency
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	0	12,697
Recurring | Level 1 | Foreign corporate
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	16,084	0
Recurring | Level 1 | RMBS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	111	0
Recurring | Level 1 | ABS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	0	0
Recurring | Level 1 | Municipals
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	0	0
Recurring | Level 1 | CMBS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	0	0
Recurring | Level 1 | Foreign government
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	0	0
Recurring | Level 2
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	141,338	149,300
Short-term investments	217	406
Other investments	200	270
Derivative assets	8,452	8,787
Separate account assets	96,816	99,405
Total assets	247,023	258,168
Liabilities [Abstract]
Derivative liabilities	1,610	2,166
Embedded derivatives within liability host contracts	0	0
Total liabilities	1,620	2,174
Recurring | Level 2 | Interest rate
Assets [Abstract]
Derivative assets	6,343	6,816
Liabilities [Abstract]
Derivative liabilities	40	11
Recurring | Level 2 | Foreign currency exchange rate
Assets [Abstract]
Derivative assets	1,392	1,408
Liabilities [Abstract]
Derivative liabilities	1,329	1,683
Recurring | Level 2 | Credit
Assets [Abstract]
Derivative assets	110	109
Liabilities [Abstract]
Derivative liabilities	5	9
Recurring | Level 2 | Equity market
Assets [Abstract]
Derivative assets	607	454
Liabilities [Abstract]
Derivative liabilities	236	463
Recurring | Level 2 | Separate account liabilities (2)
Liabilities [Abstract]
Separate account liabilities (2)	10	8
Recurring | Level 2 | Residential mortgage loans - FVO
Assets [Abstract]
Residential mortgage loans — FVO	0	0
Recurring | Level 2 | U.S. corporate
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	52,282	53,717
Recurring | Level 2 | U.S. government and agency
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	22,936	18,074
Recurring | Level 2 | Foreign corporate
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	15,496	24,098
Recurring | Level 2 | RMBS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	19,942	21,186
Recurring | Level 2 | ABS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	10,542	11,351
Recurring | Level 2 | Municipals
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	8,752	8,983
Recurring | Level 2 | CMBS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	6,403	6,628
Recurring | Level 2 | Foreign government
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	4,985	5,263
Recurring | Level 3
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	18,947	19,343
Short-term investments	77	1
Other investments	724	565
Derivative assets	96	531
Separate account assets	1,110	945
Total assets	21,094	21,550
Liabilities [Abstract]
Derivative liabilities	57	79
Embedded derivatives within liability host contracts	1,511	2,061
Total liabilities	1,573	2,146
Recurring | Level 3 | Interest rate
Assets [Abstract]
Derivative assets	73	489
Liabilities [Abstract]
Derivative liabilities	51	68
Recurring | Level 3 | Foreign currency exchange rate
Assets [Abstract]
Derivative assets	0	0
Liabilities [Abstract]
Derivative liabilities	0	2
Recurring | Level 3 | Credit
Assets [Abstract]
Derivative assets	23	25
Liabilities [Abstract]
Derivative liabilities	6	0
Recurring | Level 3 | Equity market
Assets [Abstract]
Derivative assets	0	17
Liabilities [Abstract]
Derivative liabilities	0	9
Recurring | Level 3 | Separate account liabilities (2)
Liabilities [Abstract]
Separate account liabilities (2)	5	6
Recurring | Level 3 | Residential mortgage loans - FVO
Assets [Abstract]
Residential mortgage loans — FVO	140	165
Recurring | Level 3 | U.S. corporate
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	6,370	6,692
Recurring | Level 3 | U.S. government and agency
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	7,735	0
Recurring | Level 3 | Foreign corporate
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	0	8,181
Recurring | Level 3 | RMBS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	3,175	3,040
Recurring | Level 3 | ABS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	1,351	1,224
Recurring | Level 3 | Municipals
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	0	0
Recurring | Level 3 | CMBS
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	305	201
Recurring | Level 3 | Foreign government
Assets [Abstract]
Estimated Fair Value of Fixed Maturity Securities AFS	11	5
Other limited partnership interests | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	$ 70	$ 70

Fair Value (Quantitative Inform

Fair Value (Quantitative Information) (Details)	Jun. 30, 2021	Dec. 31, 2020
Minimum | Interest rate | Measurement Input, Swap Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	148	92
Minimum | Interest rate | Measurement Input, Repurchase Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	(12)
Minimum | Interest rate | Measurement Input, Price Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	0
Minimum | Foreign currency exchange rate | Measurement Input, Swap Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	(31)
Minimum | Credit | Measurement Input, Credit Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	96	96
Minimum | Equity market | Measurement Input, Price Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	0.21
Minimum | Equity market | Measurement Input, Correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0.10	0.10
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Utilization Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0	0
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Withdrawal Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0025	0.0025
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Long-Term Equity Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.1666	0.1666
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Counterparty Credit Risk
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0004	0.0004
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Lapse Rates Duration Range One [Member] | Measurement Input, Lapse Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0025	0.0025
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Lapse Rates Duration Range Two [Member] | Measurement Input, Lapse Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0470	0.0470
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Lapse Rates Duration Range Three [Member] | Measurement Input, Lapse Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.02	0.02
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Mortality rates: Ages 0 - 40 | Measurement Input, Mortality Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0001	0.0001
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Mortality rates: Ages 41 - 60 | Measurement Input, Mortality Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0005	0.0005
Minimum | Embedded derivatives direct and assumed guaranteed minimum benefits | Mortality rates: Ages 61 - 115 | Measurement Input, Mortality Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0031	0.0031
Minimum | U.S. corporate and foreign corporate | Valuation Technique, Matrix Pricing | Measurement Input, Offered Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	1	0
Minimum | U.S. corporate and foreign corporate | Valuation Technique, Market Approach | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0	0
Minimum | RMBS | Valuation Technique, Market Approach | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0	0
Minimum | ABS | Valuation Technique, Market Approach | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	91	1
Maximum | Interest rate | Measurement Input, Swap Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	228	184
Maximum | Interest rate | Measurement Input, Repurchase Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	1
Maximum | Interest rate | Measurement Input, Price Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0.01	0
Maximum | Foreign currency exchange rate | Measurement Input, Swap Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	(13)
Maximum | Credit | Measurement Input, Credit Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	128	99
Maximum | Equity market | Measurement Input, Price Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	0.28
Maximum | Equity market | Measurement Input, Correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0.10	0.30
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Utilization Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.22	0.22
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Withdrawal Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.10	0.10
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Long-Term Equity Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.2221	0.2221
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Counterparty Credit Risk
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0038	0.0039
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Lapse Rates Duration Range One [Member] | Measurement Input, Lapse Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	1	1
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Lapse Rates Duration Range Two [Member] | Measurement Input, Lapse Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	1	1
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Lapse Rates Duration Range Three [Member] | Measurement Input, Lapse Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	1	1
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Mortality rates: Ages 0 - 40 | Measurement Input, Mortality Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0012	0.0012
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Mortality rates: Ages 41 - 60 | Measurement Input, Mortality Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0065	0.0065
Maximum | Embedded derivatives direct and assumed guaranteed minimum benefits | Mortality rates: Ages 61 - 115 | Measurement Input, Mortality Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	1	1
Maximum | U.S. corporate and foreign corporate | Valuation Technique, Matrix Pricing | Measurement Input, Offered Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	172	186
Maximum | U.S. corporate and foreign corporate | Valuation Technique, Market Approach | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	123	116
Maximum | RMBS | Valuation Technique, Market Approach | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	147	159
Maximum | ABS | Valuation Technique, Market Approach | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	110	107
Weighted Average | Interest rate | Measurement Input, Swap Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	199	149
Weighted Average | Interest rate | Measurement Input, Repurchase Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	(6)
Weighted Average | Interest rate | Measurement Input, Price Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	0
Weighted Average | Foreign currency exchange rate | Measurement Input, Swap Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	(20)
Weighted Average | Credit | Measurement Input, Credit Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	103	98
Weighted Average | Equity market | Measurement Input, Price Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0	0.28
Weighted Average | Equity market | Measurement Input, Correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset (Liability) Net, Measurement Input	0.10	0.10
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Utilization Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0017	0.0017
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Withdrawal Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0398	0.0398
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Long-Term Equity Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.1870	0.1870
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Measurement Input, Counterparty Credit Risk
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0040	0.0040
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Lapse Rates Duration Range One [Member] | Measurement Input, Lapse Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0686	0.0686
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Lapse Rates Duration Range Two [Member] | Measurement Input, Lapse Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0518	0.0518
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Lapse Rates Duration Range Three [Member] | Measurement Input, Lapse Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0518	0.0518
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Mortality rates: Ages 0 - 40 | Measurement Input, Mortality Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0006	0.0006
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Mortality rates: Ages 41 - 60 | Measurement Input, Mortality Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0030	0.0030
Weighted Average | Embedded derivatives direct and assumed guaranteed minimum benefits | Mortality rates: Ages 61 - 115 | Measurement Input, Mortality Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives direct and assumed guaranteed minimum benefits	0.0190	0.0190
Weighted Average | U.S. corporate and foreign corporate | Valuation Technique, Matrix Pricing | Measurement Input, Offered Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	113	118
Weighted Average | U.S. corporate and foreign corporate | Valuation Technique, Market Approach | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	100	99
Weighted Average | RMBS | Valuation Technique, Market Approach | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	99	98
Weighted Average | ABS | Valuation Technique, Market Approach | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	100	100

Fair Value (Unobservable Input

Fair Value (Unobservable Input Reconciliation) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Residential mortgage loans - FVO
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 149	$ 180	$ 165	$ 188
Total realized/unrealized gains (losses) included in net income (loss)	(1)	1	(3)	3
Total realized/unrealized gains (losses) included in AOCI	0	0	0	0
Purchases	0	0	0	0
Sales	(2)	(2)	(11)	(7)
Issuances	0	0	0	0
Settlements	(6)	(4)	(11)	(9)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Balance, end of period	140	175	140	175
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(2)	0	(7)	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(2)	0	(7)	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Net Derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	16	(16)	(34)	84
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	200	(70)	(274)	923
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	(277)	1,192	452	(72)
Total realized/unrealized gains (losses) included in net income (loss)	35	(29)	(120)	240
Total realized/unrealized gains (losses) included in AOCI	206	(74)	(409)	1,021
Purchases	3	0	3	0
Sales	0	0	0	0
Issuances	(5)	0	(6)	0
Settlements	12	(151)	117	(251)
Transfers into Level 3	0	0	1	0
Transfers out of Level 3	65	0	1	0
Balance, end of period	39	938	39	938
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	16	(16)	(34)	84
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	200	(70)	(274)	923
Net Embedded Derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(249)	(89)	636	(1,160)
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	(1,216)	(2,442)	(2,061)	(1,325)
Total realized/unrealized gains (losses) included in net income (loss)	(252)	(86)	634	(1,159)
Total realized/unrealized gains (losses) included in AOCI	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(43)	(43)	(84)	(87)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Balance, end of period	(1,511)	(2,571)	(1,511)	(2,571)
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(249)	(89)	636	(1,160)
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Corporate fixed maturity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	14,248	12,978	14,873	9,382
Total realized/unrealized gains (losses) included in net income (loss)	(6)	(23)	(8)	(71)
Total realized/unrealized gains (losses) included in AOCI	220	789	(425)	(233)
Purchases	344	688	648	1,658
Sales	(235)	(396)	(404)	(515)
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into Level 3	38	116	82	3,128
Transfers out of Level 3	(504)	(1,174)	(661)	(371)
Balance, end of period	14,105	12,978	14,105	12,978
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(7)	(15)	(9)	(39)
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	221	780	(423)	(257)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(7)	(15)	(9)	(39)
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	221	780	(423)	(257)
Structured Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	4,490	3,240	4,465	3,395
Total realized/unrealized gains (losses) included in net income (loss)	14	9	23	19
Total realized/unrealized gains (losses) included in AOCI	16	191	(3)	(98)
Purchases	588	1,192	932	1,431
Sales	(308)	(166)	(637)	(326)
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into Level 3	307	122	269	144
Transfers out of Level 3	(276)	(42)	(218)	(19)
Balance, end of period	4,831	4,546	4,831	4,546
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	14	12	21	22
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	15	187	(2)	(97)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	14	12	21	22
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	15	187	(2)	(97)
Municipals
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	0	0	0	7
Total realized/unrealized gains (losses) included in net income (loss)	0	0	0	0
Total realized/unrealized gains (losses) included in AOCI	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	(7)
Balance, end of period	0	0	0	0
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Foreign government
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	7	33	5	10
Total realized/unrealized gains (losses) included in net income (loss)	0	0	0	0
Total realized/unrealized gains (losses) included in AOCI	0	0	(1)	(1)
Purchases	8	9	8	9
Sales	(3)	(1)	(1)	(1)
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	(1)	(26)	0	(2)
Balance, end of period	11	15	11	15
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	(1)	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	(1)	0
Short-term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	37	354	1	17
Total realized/unrealized gains (losses) included in net income (loss)	0	(1)	0	0
Total realized/unrealized gains (losses) included in AOCI	0	1	0	0
Purchases	24	0	75	0
Sales	(34)	(4)	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into Level 3	50	0	1	0
Transfers out of Level 3	0	(350)	0	(17)
Balance, end of period	77	0	77	0
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Other Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	673	655	565	799
Total realized/unrealized gains (losses) included in net income (loss)	42	46	76	(2)
Total realized/unrealized gains (losses) included in AOCI	0	0	0	0
Purchases	27	16	27	31
Sales	(13)	(2)	(14)	(35)
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into Level 3	0	0	74	0
Transfers out of Level 3	(5)	(19)	(4)	(97)
Balance, end of period	724	696	724	696
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	38	46	72	1
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	38	46	72	1
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Separate Accounts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	992	927	939	915
Total realized/unrealized gains (losses) included in net income (loss)	9	10	(1)	1
Total realized/unrealized gains (losses) included in AOCI	0	0	0	0
Purchases	118	57	187	94
Sales	(27)	(93)	(32)	(101)
Issuances	1	(2)	0	(3)
Settlements	3	1	5	1
Transfers into Level 3	9	13	10	10
Transfers out of Level 3	0	(1)	(3)	(5)
Balance, end of period	1,105	912	1,105	912
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	0	0	0	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0	0
Changes in unrealized gains (losses) included in AOCI for the instruments still held at end of period	$ 0	$ 0	$ 0	$ 0

Fair Value (Fair Value Option f

Fair Value (Fair Value Option for Residential Mortgage Loans) (Details) - Residential mortgage loans - FVO - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Option, Quantitative Disclosures [Line Items]
Unpaid principal balance	$ 141	$ 172
Difference between estimated fair value and unpaid principal balance	(1)	(7)
Carrying value at estimated fair value	140	165
Loans in nonaccrual status	35	45
Loans more than 90 days past due	18	27
Loans in nonaccrual status or more than 90 days past due, or both — difference between aggregate estimated fair value and unpaid principal balance	$ (6)	$ (13)

Fair Value (Nonrecurring Fair V

Fair Value (Nonrecurring Fair Value Measurements) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans, net (1)	$ 62,799		$ 62,799		$ 66,405
Fair Value, Nonrecurring | Mortgages [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Adjustment	(35)	$ (9)	(30)	$ (9)
Fair Value, Nonrecurring | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans, net (1)	$ 321		$ 321		$ 320

Fair Value (Financial Instrumen

Fair Value (Financial Instruments Carried at Other Than Fair Value) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Policy loans	$ 5,885	$ 5,973
Liabilities
Separate account liabilities	127,878	128,646
Carrying Value
Assets
Mortgage loans (1)	62,659	66,240
Policy loans	5,885	5,973
Other invested assets	2,377	2,849
Premiums, reinsurance and other receivables	13,193	13,173
Liabilities
Policyholder account balances	79,488	78,059
Long-term debt	1,626	1,615
Other liabilities	12,841	12,595
Separate account liabilities	57,878	59,103
Estimated Fair Value
Assets
Mortgage loans (1)	66,300	70,391
Policy loans	6,879	7,148
Other invested assets	2,419	2,753
Premiums, reinsurance and other receivables	13,590	13,637
Liabilities
Policyholder account balances	82,970	82,982
Long-term debt	2,021	2,018
Other liabilities	13,077	12,912
Separate account liabilities	57,878	59,103
Estimated Fair Value | Level 1
Assets
Mortgage loans (1)	0	0
Policy loans	0	0
Other invested assets	0	0
Premiums, reinsurance and other receivables	0	0
Liabilities
Policyholder account balances	0	0
Long-term debt	0	0
Other liabilities	0	0
Separate account liabilities	0	0
Estimated Fair Value | Level 2
Assets
Mortgage loans (1)	0	0
Policy loans	0	0
Other invested assets	2,417	2,586
Premiums, reinsurance and other receivables	492	363
Liabilities
Policyholder account balances	0	0
Long-term debt	2,021	2,018
Other liabilities	504	134
Separate account liabilities	57,878	59,103
Estimated Fair Value | Level 3
Assets
Mortgage loans (1)	66,300	70,391
Policy loans	6,879	7,148
Other invested assets	2	167
Premiums, reinsurance and other receivables	13,098	13,274
Liabilities
Policyholder account balances	82,970	82,982
Long-term debt	0	0
Other liabilities	12,573	12,778
Separate account liabilities	$ 0	$ 0

Equity (Components of Accumulat

Equity (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	$ 8,679	$ 11,291	$ 11,662	$ 10,025
OCI before reclassifications	1,610	4,011	(2,279)	5,099
Deferred income tax benefit (expense)	(332)	(863)	488	(1,065)
AOCI before reclassifications, net of income tax	9,957	14,439	9,871	14,059
Amounts reclassified from AOCI	(97)	(270)	11	211
Deferred income tax benefit (expense)	19	57	(3)	(44)
Amounts reclassified from AOCI, net of income tax	(78)	(213)	8	167
Balance, end of period	9,879	14,226	9,879	14,226
Unrealized Investment Gains (Losses), Net of Related Offsets
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	8,305	7,177	10,384	8,876
OCI before reclassifications	759	4,447	(1,900)	2,228
Deferred income tax benefit (expense)	(153)	(956)	408	(462)
AOCI before reclassifications, net of income tax	8,911	10,668	8,892	10,642
Amounts reclassified from AOCI	35	41	59	74
Deferred income tax benefit (expense)	(8)	(8)	(13)	(15)
Amounts reclassified from AOCI, net of income tax	27	33	46	59
Balance, end of period	8,938	10,701	8,938	10,701
Unrealized Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	854	4,567	1,791	1,620
OCI before reclassifications	859	(415)	(401)	2,876
Deferred income tax benefit (expense)	(181)	87	84	(604)
AOCI before reclassifications, net of income tax	1,532	4,239	1,474	3,892
Amounts reclassified from AOCI	(142)	(317)	(69)	122
Deferred income tax benefit (expense)	29	66	14	(26)
Amounts reclassified from AOCI, net of income tax	(113)	(251)	(55)	96
Balance, end of period	1,419	3,988	1,419	3,988
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(29)	(86)	(53)	(97)
OCI before reclassifications	(6)	(25)	24	(9)
Deferred income tax benefit (expense)	2	7	(4)	2
AOCI before reclassifications, net of income tax	(33)	(104)	(33)	(104)
Amounts reclassified from AOCI	0	0	0	0
Deferred income tax benefit (expense)	0	0	0	0
Amounts reclassified from AOCI, net of income tax	0	0	0	0
Balance, end of period	(33)	(104)	(33)	(104)
Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(451)	(367)	(460)	(374)
OCI before reclassifications	(2)	4	(2)	4
Deferred income tax benefit (expense)	0	(1)	0	(1)
AOCI before reclassifications, net of income tax	(453)	(364)	(462)	(371)
Amounts reclassified from AOCI	10	6	21	15
Deferred income tax benefit (expense)	(2)	(1)	(4)	(3)
Amounts reclassified from AOCI, net of income tax	8	5	17	12
Balance, end of period	$ (445)	$ (359)	$ (445)	$ (359)

Equity (Reclassifications Out o

Equity (Reclassifications Out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)	$ 342		$ 56		$ 502	$ (126)
Net derivative gains (losses)	25		(793)		(990)	2,762
Net investment income	3,034		2,005		6,221	4,649
Income (loss) before provision for income tax	1,752		(456)		2,368	3,881
Income tax (expense) benefit	(308)		171		(357)	(619)
Net income (loss)	1,444	$ 567	(285)	$ 3,547	2,011	3,262
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	78		213		(8)	(167)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Investment Gains (Losses), Net of Related Offsets
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)	(19)		(32)		(34)	(58)
Net derivative gains (losses)	(12)		(7)		(18)	(8)
Net investment income	(4)		(2)		(7)	(8)
Income (loss) before provision for income tax	(35)		(41)		(59)	(74)
Income tax (expense) benefit	8		8		13	15
Net income (loss)	(27)		(33)		(46)	(59)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) before provision for income tax	142		317		69	(122)
Income tax (expense) benefit	(29)		(66)		(14)	26
Net income (loss)	113		251		55	(96)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Derivatives | Interest rate contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)	19		42		48	48
Net investment income	14		9		27	15
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Derivatives | Foreign currency swaps
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)	108		266		(8)	(185)
Net investment income	1		0		2	0
Reclassification out of Accumulated Other Comprehensive Income | Defined Benefit Plans Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net actuarial gains (losses)	(11)		(6)		(23)	(16)
Amortization of prior service (costs) credit	1		0		2	1
Income (loss) before provision for income tax	(10)		(6)		(21)	(15)
Income tax (expense) benefit	2		1		4	3
Net income (loss)	$ (8)		$ (5)		$ (17)	$ (12)

Other Revenues (Details)

Other Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 217	$ 202	$ 436	$ 411
Other revenues	432	403	857	776
Prepaid legal plans
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	99	94	199	189
Recordkeeping and administrative services
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	53	45	105	94
Administrative services-only contracts
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	54	54	112	110
Other revenue from service contracts from customers
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	11	9	20	18
Other Income
Disaggregation of Revenue [Line Items]
Other revenues	$ 215	$ 201	$ 421	$ 365

Other Expenses (Other Expenses)

Other Expenses (Other Expenses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other Income and Expenses [Abstract]
General and administrative expenses (1)	$ 547	$ 537	$ 1,094	$ 1,132
Pension, postretirement and postemployment benefit costs	25	8	58	17
Premium taxes, other taxes, and licenses & fees	93	95	166	192
Commissions and other variable expenses	494	450	982	922
Capitalization of DAC	(10)	(13)	(29)	(23)
Amortization of DAC and VOBA	32	(16)	72	87
Interest expense on debt	24	26	48	51
Total other expenses	1,205	1,087	2,391	2,378
Net change in cash surrender value of investments, net of premiums paid	$ (44)	$ (53)	$ (57)	$ (25)

Income Tax (Narrative) (Details

Income Tax (Narrative) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	18.00%	38.00%	15.00%	16.00%

Contingencies, Commitments an_2

Contingencies, Commitments and Guarantees (Contingencies - Narrative) (Details) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)Claims	Jun. 30, 2020Claims	Dec. 31, 2020Claims
Minimum
Loss Contingencies
Loss Contingency, Range of Possible Loss, Portion Not Accrued	$ 0
Maximum
Loss Contingencies
Loss Contingency, Range of Possible Loss, Portion Not Accrued	$ 175
Asbestos Related Claims
Loss Contingencies
Asbestos-Related Claims | Claims	1,304	1,121	2,496

Contingencies, Commitments an_3

Contingencies, Commitments and Guarantees (Commitments and Guarantees - Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Contingencies, Commitments and Guarantees [Abstract]
Liabilities for indemnities, guarantees and commitments	$ 2	$ 3
Cumulative maximum indemnities and guarantees contractual limitation	431
Minimum
Contingencies, Commitments and Guarantees [Abstract]
Indemnities and guarantees contractual limitation range	1
Maximum
Contingencies, Commitments and Guarantees [Abstract]
Indemnities and guarantees contractual limitation range	315
Mortgage Loan Commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	3,200	2,400
Commitments to Fund Partnership Investments, Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	$ 4,100	$ 4,300

Related Party Transactions (Ser

Related Party Transactions (Service Agreements - Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Other expenses	$ 1,205	$ 1,087	$ 2,391	$ 2,378
Revenues	10,798	6,871	19,895	19,037
Net receivables (payables) due from (to) affiliates	(112)		(112)		$ (198)
Affiliated Entity [Member] | Services Necessary To Conduct The Company's Activities
Related Party Transaction [Line Items]
Other expenses	593	575	1,200	1,200
Revenues	$ 9	$ 9	$ 21	$ 19

Related Party Transactions (Eff

Related Party Transactions (Effects of Affiliated Reinsurance on Statements of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Premiums:
Net premiums	$ 6,451	$ 4,721	$ 12,256	$ 9,969
Other revenues:
Net other revenues	432	403	857	776
Interest Credited To Policyholder Account Balances [Abstract]
Net interest credited to policyholder account balances	512	571	1,023	1,182
Other expenses:
Net other expenses	1,205	1,087	2,391	2,378
Affiliated Entity [Member] | Assumed Reinsurance [Member]
Premiums:
Reinsurance assumed	840	2	842	4
Universal life and investment-type product policy fees:
Reinsurance assumed	0	0	0	0
Other revenues:
Reinsurance assumed	5	0	2	(9)
Policyholder benefits and claims:
Reinsurance assumed	831	0	832	1
Interest Credited To Policyholder Account Balances [Abstract]
Reinsurance assumed	7	7	14	14
Other expenses:
Reinsurance assumed	19	0	19	0
Affiliated Entity [Member] | Ceded Reinsurance [Member]
Premiums:
Reinsurance ceded	(29)	(29)	(60)	(58)
Universal life and investment-type product policy fees:
Reinsurance ceded	(3)	(3)	(1)	(2)
Other revenues:
Reinsurance ceded	142	119	283	251
Policyholder benefits and claims:
Reinsurance ceded	(37)	(34)	(72)	(69)
Interest Credited To Policyholder Account Balances [Abstract]
Reinsurance ceded	(3)	(3)	(6)	(6)
Other expenses:
Reinsurance ceded	132	119	234	254
Affiliated Entity [Member] | Reinsurance [Member]
Premiums:
Net premiums	811	(27)	782	(54)
Universal life and investment-type product policy fees:
Insurance Commissions and Fees, Net Impact from Reinsurance	(3)	(3)	(1)	(2)
Other revenues:
Net other revenues	147	119	285	242
Policyholder benefits and claims:
Net policyholder benefits and claims	794	(34)	760	(68)
Interest Credited To Policyholder Account Balances [Abstract]
Net interest credited to policyholder account balances	4	4	8	8
Other expenses:
Net other expenses	$ 151	$ 119	$ 253	$ 254

Related Party Transactions (E_2

Related Party Transactions (Effects of Affiliated Reinsurance on Balance Sheets) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Premiums, reinsurance and other receivables	$ 21,587	$ 21,478
Deferred policy acquisition costs and value of business acquired	2,692	2,649
Liabilities:
Policyholder account balances	97,214	96,635
Other policy-related balances	7,619	7,430
Other Liabilities	24,598	25,424
Assumed Reinsurance [Member] | Affiliated Entity [Member]
Assets
Premiums, reinsurance and other receivables	17	1
Deferred policy acquisition costs and value of business acquired	0	0
Total assets	17	1
Liabilities:
Liability for Future Policy Benefit, before Reinsurance	863	48
Policyholder account balances	118	123
Other policy-related balances	14	1
Other Liabilities	890	864
Total liabilities	1,885	1,036
Ceded Reinsurance [Member] | Affiliated Entity [Member]
Assets
Premiums, reinsurance and other receivables	12,409	12,453
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Ceded	(142)	(145)
Total assets	12,267	12,308
Liabilities:
Liability for Future Policy Benefit, before Reinsurance, Ceded	(11)	(14)
Policyholder account balances	0	0
Other policy-related balances	3	5
Other Liabilities	12,450	12,816
Total liabilities	$ 12,442	$ 12,807

Related Party Transactions (Rei

Related Party Transactions (Reinsurance Transactions - Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	$ 1,511		$ 1,511		$ 2,061
Other invested assets relating to variable interest entities	17,468		17,468		17,723
Net premiums	6,451	$ 4,721	12,256	$ 9,969
Affiliated Entity [Member]
Reinsurance Disclosures [Abstract]
Other invested assets relating to variable interest entities	$ 1,626		$ 1,626		2,058
Affiliated Entity [Member] | Funds Withheld On Ceded Reinsurance [Member]
Reinsurance Disclosures [Abstract]
Coinsurance Funds Withheld Basis, Percent	75.00%		75.00%
Embedded Derivative, Fair Value of Embedded Derivative Liability	$ 32		$ 32		45
Net derivatives gains (losses)	(10)	(12)	13	(27)
Affiliated Entity [Member] | Closed Block Liabilities Ceded To MetLife Reinsurance Of Charleston [Member]
Reinsurance Disclosures [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	1,200		1,200		$ 1,400
Net derivatives gains (losses)	(190)	$ (379)	229	$ (290)
Missouri Reinsurance Inc.
Reinsurance Disclosures [Abstract]
Liability for Future Policy Benefit, before Reinsurance	816		816
Other invested assets relating to variable interest entities	830		830
Policyholder Benefits and Claims Incurred, Assumed	829		829
Assumed Premiums Earned	$ 838		$ 838