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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2015	Mar. 24, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	MetLife Insurance Co USA
Entity Central Index Key	0000733076
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float	$ 0
Entity Common Stock, Shares Outstanding		3,000

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	$ 52,409	$ 50,697
Equity securities available-for-sale, at estimated fair value (cost: $384 and $400, respectively)	409	459
Mortgage loans (net of valuation allowances of $36 and $25, respectively; includes $172 and $280, respectively, at estimated fair value, relating to variable interest entities)	7,262	5,839
Policy loans	1,266	1,194
Real estate and real estate joint ventures (includes $5 and $93, respectively, of real estate held-for-sale)	628	894
Other limited partnership interests	1,846	2,234
Short-term investments, principally at estimated fair value	1,737	1,232
Other invested assets, principally at estimated fair value	4,942	4,531
Total investments	70,499	67,080
Cash and cash equivalents, principally at estimated fair value	1,383	1,206
Accrued investment income (includes $1 and $2, respectively, relating to variable interest entities)	505	501
Premiums, reinsurance and other receivables	22,251	21,559
Deferred policy acquisition costs and value of business acquired	4,809	4,890
Current income tax recoverable	0	537
Goodwill	381	381
Other assets	799	848
Separate account assets	101,735	108,861
Total assets	202,362	205,863
Liabilities
Future policy benefits	29,894	28,479
Policyholder account balances	35,661	35,486
Other policy-related balances	3,549	3,320
Payables for collateral under securities loaned and other transactions	10,619	7,501
Long-term debt (includes $48 and $139, respectively, at estimated fair value, relating to variable interest entities)	836	928
Current income tax payable	20	0
Deferred income tax liability	803	1,338
Other liabilities (includes $1 and $1, respectively, relating to variable interest entities)	7,682	7,944
Separate account liabilities	101,735	108,861
Total liabilities	190,799	193,857
Contingencies, Commitments and Guarantees (Note 16)
Stockholder’s Equity
Common stock, par value $25,000 per share; 4,000 shares authorized; 3,000 shares issued and outstanding	75	75
Additional paid-in capital	10,871	10,855
Retained earnings (deficit)	(1,011)	(1,350)
Accumulated other comprehensive income (loss)	1,628	2,426
Total stockholder’s equity	11,563	12,006
Total liabilities and stockholder’s equity	$ 202,362	$ 205,863

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Assets
Amortized cost of fixed maturity securities available-for-sale	$ 50,154	$ 46,423
Cost of equity securities available-for-sale	384	400
Mortgage loans valuation allowances	36	25
Mortgage loans, at estimated fair value, relating to variable interest entities	7,262	5,839
Real estate held-for-sale	5	93
Accrued investment income relating to variable interest entities	505	501
Liabilities
Long-term debt, at estimated fair value, relating to variable interest entities	836	928
Other liabilities relating to variable interest entities	$ 7,682	$ 7,944
Stockholder’s Equity
Common stock, par value	$ 25,000	$ 25,000
Common stock, shares authorized	4,000	4,000
Common stock, shares issued	3,000	3,000
Common stock, shares outstanding	3,000	3,000
Variable interest entities
Assets
Mortgage loans, at estimated fair value, relating to variable interest entities	$ 172	$ 280
Accrued investment income relating to variable interest entities	1	2
Liabilities
Long-term debt, at estimated fair value, relating to variable interest entities	48	139
Other liabilities relating to variable interest entities	$ 1	$ 1

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Premiums	$ 1,433	$ 1,152	$ 689
Universal life and investment-type product policy fees	2,940	3,193	3,130
Net investment income	2,615	2,669	2,999
Other revenues	504	539	610
Net investment gains (losses):
Other-than-temporary impairments on fixed maturity securities	(16)	(6)	(9)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss)	(9)	(6)	(11)
Other net investment gains (losses)	61	(457)	47
Total net investment gains (losses)	36	(469)	27
Net derivative gains (losses)	(424)	(181)	441
Total revenues	7,104	6,903	7,896
Expenses
Policyholder benefits and claims	2,696	2,764	3,147
Interest credited to policyholder account balances	1,037	1,062	1,168
Goodwill impairment	0	33	66
Other expenses	2,317	2,754	1,937
Total expenses	6,050	6,613	6,318
Income (loss) before provision for income tax	1,054	290	1,578
Provision for income tax expense (benefit)	215	(5)	437
Net income (loss)	$ 839	$ 295	$ 1,141

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 839	$ 295	$ 1,141
Other comprehensive income (loss):
Unrealized investment gains (losses), net of related offsets	(1,324)	1,953	(2,232)
Unrealized gains (losses) on derivatives	86	244	(206)
Foreign currency translation adjustments	(28)	(50)	54
Other comprehensive income (loss), before income tax	(1,266)	2,147	(2,384)
Income tax (expense) benefit related to items of other comprehensive income (loss)	468	(701)	808
Other comprehensive income (loss), net of income tax	(798)	1,446	(1,576)
Comprehensive income (loss)	$ 41	$ 1,741	$ (435)

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2012	$ 13,216	$ 86	$ 11,460	$ (886)	$ 2,556
Capital contributions from MetLife, Inc.	46		46
Dividends paid to MetLife, Inc.	(1,261)			(1,261)
Net income (loss)	1,141			1,141
Other comprehensive income (loss), net of income tax	(1,576)				(1,576)
Ending Balance at Dec. 31, 2013	11,566	86	11,506	(1,006)	980
Redemption of common stock	(1,390)	(11)	(895)	(484)
Capital contributions from MetLife, Inc.	244		244
Dividends paid to MetLife, Inc.	(155)			(155)
Net income (loss)	295			295
Other comprehensive income (loss), net of income tax	1,446				1,446
Ending Balance at Dec. 31, 2014	12,006	75	10,855	(1,350)	2,426
Capital contributions from MetLife, Inc.	16		16
Dividends paid to MetLife, Inc.	(500)			(500)
Net income (loss)	839			839
Other comprehensive income (loss), net of income tax	(798)				(798)
Ending Balance at Dec. 31, 2015	$ 11,563	$ 75	$ 10,871	$ (1,011)	$ 1,628

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net income (loss)	$ 839	$ 295	$ 1,141
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization expenses	23	30	35
Amortization of premiums and accretion of discounts associated with investments, net	(204)	(166)	(150)
(Gains) losses on investments and from sales of businesses, net	(36)	469	(27)
(Gains) losses on derivatives, net	1,225	1,443	1,567
(Income) loss from equity method investments, net of dividends or distributions	108	(11)	(82)
Interest credited to policyholder account balances	1,037	1,062	1,168
Universal life and investment-type product policy fees	(2,940)	(3,193)	(3,130)
Goodwill impairment	0	33	66
Change in accrued investment income	9	124	146
Change in premiums, reinsurance and other receivables	(586)	(1,479)	(190)
Change in deferred policy acquisition costs and value of business acquired, net	270	711	(480)
Change in income tax	491	245	691
Change in other assets	2,127	2,258	2,006
Change in insurance-related liabilities and policy-related balances	2,104	1,398	1,198
Change in other liabilities	(267)	1,390	31
Other, net	5	(67)	(6)
Net cash provided by (used in) operating activities	4,205	4,542	3,984
Cash flows from investing activities
Sales, maturities and repayments of fixed maturity securities	35,704	20,249	20,330
Sales, maturities and repayments of equity securities	308	98	69
Sales, maturities and repayments of mortgage loans	1,059	2,428	2,304
Sales, maturities and repayments of real estate and real estate joint ventures	512	28	104
Sales, maturities and repayments of other limited partnership interests	425	255	153
Purchases of fixed maturity securities	(39,298)	(24,520)	(17,068)
Purchases of equity securities	(273)	(41)	(133)
Purchases of mortgage loans	(2,515)	(343)	(912)
Purchases of real estate and real estate joint ventures	(109)	(209)	(201)
Purchases of other limited partnership interests	(233)	(345)	(368)
Cash received in connection with freestanding derivatives	223	788	258
Cash paid in connection with freestanding derivatives	(868)	(1,991)	(3,615)
Cash received under repurchase agreements	199	0	0
Cash paid under repurchase agreements	(199)	0	0
Cash received under reverse repurchase agreements	199	0	0
Cash paid under reverse repurchase agreements	(199)	0	0
Sale of business, net of cash and cash equivalents disposed of $0, $251 and $0, respectively	0	451	0
Sales of loans to affiliates	0	520	0
Net change in policy loans	(72)	52	(3)
Net change in short-term investments	(495)	3,581	2,060
Net change in other invested assets	(55)	(305)	113
Other, net	0	0	3
Net cash provided by (used in) investing activities	(5,687)	696	3,094
Cash flows from financing activities
Policyholder account balances: Deposits	19,970	18,581	15,005
Policyholder account balances: Withdrawals	(20,797)	(21,564)	(16,806)
Net change in payables for collateral under securities loaned and other transactions	3,118	703	(3,197)
Long-term debt issued	175	0	0
Long-term debt repaid	(235)	(1,379)	(1,009)
Financing element on certain derivative instruments	(81)	(414)	(197)
Redemption of common stock	0	(906)	0
Common stock redemption premium	0	(484)	0
Dividends paid to MetLife, Inc.	(500)	(155)	(1,261)
Capital contributions from MetLife, Inc.	11	231	0
Net cash provided by (used in) financing activities	1,661	(5,387)	(7,465)
Effect of change in foreign currency exchange rates on cash and cash equivalents balances	(2)	(45)	(41)
Change in cash and cash equivalents	177	(194)	(428)
Cash and cash equivalents, beginning of year	1,206	1,400	1,828
Cash and cash equivalents, end of year	1,383	1,206	1,400
Supplemental disclosures of cash flow information:
Net cash paid for Interest	77	116	199
Net cash paid (received) for Income tax	(263)	(221)	(272)
Non-cash transactions:
Capital contributions from MetLife, Inc.	5	13	46
Transfers of fixed maturity securities to affiliates	$ 0	$ 804	$ 0

Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Cash Flows [Abstract]
Cash disposed from sale of business	$ 0	$ 251	$ 0

Business, Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2015

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

“MetLife USA” and the “Company” refer to MetLife Insurance Company USA (formerly, MetLife Insurance Company of Connecticut (“MICC”)), a Delaware corporation originally incorporated in Connecticut in 1863, and its subsidiaries. MetLife Insurance Company USA is a wholly-owned subsidiary of MetLife, Inc. (MetLife, Inc., together with its subsidiaries and affiliates, “MetLife”). The Company offers individual annuities, individual life insurance, and institutional protection and asset accumulation products.

In November 2014, MetLife Insurance Company of Connecticut re-domesticated from Connecticut to Delaware, changed its name to MetLife Insurance Company USA and merged with its subsidiary, MetLife Investors USA Insurance Company (“MLI-USA”), and its affiliates, MetLife Investors Insurance Company (“MLIIC”) and Exeter Reassurance Company, Ltd. (“Exeter”). See Note 3 for further information on the merger transactions and the prior periods’ adjustments.

The Company is organized into two segments: Retail and Corporate Benefit Funding.

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 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. 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 estimates.

Consolidation

The accompanying consolidated financial statements include the accounts of MetLife Insurance Company USA 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.

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.

Discontinued Operations

The results of operations of a component of the Company that has either been disposed of or is classified as held-for-sale are reported in discontinued operations if certain criteria are met. Effective January 1, 2014, the Company adopted new guidance regarding reporting of discontinued operations for disposals or classifications as held-for-sale that have not been previously reported on the consolidated financial statements. A disposal of a component is reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. See “— Adoption of New Accounting Pronouncements.”

Separate Accounts

Separate accounts are established in conformity with insurance laws. Generally, the assets of the separate accounts cannot be used to settle the liabilities that arise from any other business of the Company. Separate account assets are subject to general account claims only to the extent the value of such assets exceeds the separate account liabilities. The Company reports separately, as assets and liabilities, investments held in separate accounts and liabilities of the separate accounts if:


•	such separate accounts are legally recognized;


•	assets supporting the contract liabilities are legally insulated from the Company’s general account liabilities;


•	investments are directed by the contractholder; and


•	all investment performance, net of contract fees and assessments, is passed through to the contractholder.

The Company reports separate account assets at their fair value, which is based on the estimated fair values of the underlying assets comprising the individual separate account portfolios. Investment performance (including investment income, net investment gains (losses) and changes in unrealized gains (losses)) and the corresponding amounts credited to contractholders of such separate accounts are offset within the same line on the statements of operations. Separate accounts credited with a contractual investment return are combined on a line-by-line basis with the Company’s general account assets, liabilities, revenues and expenses and the accounting for these investments is consistent with the methodologies described herein for similar financial instruments held within the general account.

The Company’s revenues reflect fees charged to the separate accounts, including mortality charges, risk charges, policy administration fees, investment management fees and surrender charges. Such fees are included in universal life and investment-type product policy fees on the statements of operations.

Reclassifications

Certain amounts in the prior years’ consolidated financial statements and related footnotes thereto have been reclassified to conform with the current year presentation as discussed throughout the Notes to the Consolidated Financial Statements.

Summary of Significant Accounting Policies

The following are the Company’s significant accounting policies with references to notes providing additional information on such policies and critical accounting estimates relating to such policies.



Accounting Policy	Note
Insurance	5
Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles	6
Reinsurance	7
Investments	8
Derivatives	9
Fair Value	10
Goodwill	11
Income Tax	15
Litigation Contingencies	16

Insurance

Future Policy Benefit Liabilities and Policyholder Account Balances

The Company establishes liabilities for amounts payable under insurance policies. Generally, amounts are payable over an extended period of time and related liabilities are calculated as the present value of future expected benefits to be paid reduced by the present value of future expected premiums. Such liabilities are established based on methods and underlying assumptions in accordance with GAAP and applicable actuarial standards. Principal assumptions used in the establishment of liabilities for future policy benefits are mortality, morbidity, policy lapse, renewal, retirement, disability incidence, disability terminations, investment returns, inflation, expenses and other contingent events as appropriate to the respective product type. These assumptions are established at the time the policy is issued and are intended to estimate the experience for the period the policy benefits are payable. Utilizing these assumptions, liabilities are established on a block of business basis. For long duration insurance contracts, assumptions such as mortality, morbidity and interest rates are “locked in” upon the issuance of new business. However, significant adverse changes in experience on such contracts may require the establishment of premium deficiency reserves. Such reserves are determined based on the then current assumptions and do not include a provision for adverse deviation.

Liabilities for universal and variable life secondary guarantees are determined by estimating the expected value of death benefits payable when the account balance is projected to be zero and recognizing those benefits ratably over the accumulation period based on total expected assessments. The assumptions used in estimating the secondary guarantee liabilities are consistent with those used for amortizing deferred policy acquisition costs (“DAC”), and are thus subject to the same variability and risk as further discussed herein. The assumptions of investment performance and volatility for variable products are consistent with historical experience of appropriate underlying equity indices, such as the Standard & Poor’s Ratings Services (“S&P”) 500 Index. The benefits used in calculating the liabilities are based on the average benefits payable over a range of scenarios.

The Company regularly reviews its estimates of liabilities for future policy benefits and compares them with its actual experience. Differences result in changes to the liability balances with related charges or credits to benefit expenses in the period in which the changes occur.

Policyholder account balances relate to contracts or contract features where the Company has no significant insurance risk.

The Company issues directly and assumes through reinsurance certain variable annuity products with guaranteed minimum benefits that provide the policyholder a minimum return based on their initial deposit (i.e., the benefit base) less withdrawals. These guarantees are accounted for as insurance liabilities or as embedded derivatives depending on how and when the benefit is paid. Specifically, a guarantee is accounted for as an embedded derivative if a guarantee is paid without requiring (i) the occurrence of specific insurable event, or (ii) the policyholder to annuitize. Alternatively, a guarantee is accounted for as an insurance liability if the guarantee is paid only upon either (i) the occurrence of a specific insurable event, or (ii) annuitization. In certain cases, a guarantee may have elements of both an insurance liability and an embedded derivative and in such cases the guarantee is split and accounted for under both models.

Guarantees accounted for as insurance liabilities in future policy benefits include guaranteed minimum death benefits (“GMDBs”), the portion of guaranteed minimum income benefits (“GMIBs”) that require annuitization, and the life-contingent portion of guaranteed minimum withdrawal benefits (“GMWBs”).

Guarantees accounted for as embedded derivatives in policyholder account balances include the non life-contingent portion of GMWBs, guaranteed minimum accumulation benefits (“GMABs”) and the portion of GMIBs that do not require annuitization. At inception, the Company attributes to the embedded derivative a portion of the projected future guarantee fees to be collected from the policyholder equal to the present value of projected future guaranteed benefits. Any additional fees represent “excess” fees and are reported in universal life and investment-type product policy fees.

Other Policy-Related Balances

Other policy-related balances primarily include assumed affiliated reinsurance payables, affiliated deferred experience refunds, policy and contract claims and unearned revenue liabilities.

The assumed affiliated reinsurance payable relates primarily to reinsurance for certain universal life business assumed from an affiliate, net of other reinsurance.

The affiliated deferred experience refunds relate to the repayment of acquisition costs under an affiliated reinsurance agreement and represent part of the net cost of reinsurance for the business reinsured. The deferred experience refund is being amortized consistent with the DAC methodology on the underlying contracts.

The liability for policy and contract claims generally relates to incurred but not reported death, disability and long-term care claims, as well as claims which have been reported but not yet settled. The liability for these claims is based on the Company’s estimated ultimate cost of settling all claims. The Company derives estimates for the development of incurred but not reported claims principally from analyses of historical patterns of claims by business line. The methods used to determine these estimates are continually reviewed. Adjustments resulting from this continuous review process and differences between estimates and payments for claims are recognized in policyholder benefits and claims expense in the period in which the estimates are changed or payments are made.

The unearned revenue liability relates to universal life-type and investment-type products and represents policy charges for services to be provided in future periods. The charges are deferred as unearned revenue and amortized using the product’s estimated gross profits, similar to DAC as discussed further herein. Such amortization is recorded in universal life and investment-type product policy fees.

Recognition of Insurance Revenues and Deposits

Premiums related to traditional life and annuity contracts with life contingencies are recognized as revenues when due from policyholders. Policyholder benefits and expenses are provided to recognize profits over the estimated lives of the insurance policies. When premiums are due over a significantly shorter period than the period over which benefits are provided, any excess profit is deferred and recognized into earnings in a constant relationship to insurance in-force or, for annuities, the amount of expected future policy benefit payments.

Premiums related to non-medical health and disability contracts are recognized on a pro rata basis over the applicable contract term.

Deposits related to universal life-type and investment-type products are credited to policyholder account balances. Revenues from such contracts consist of fees for mortality, policy administration and surrender charges and are recorded in universal life and investment-type product policy fees in the period in which services are provided. Amounts that are charged to earnings include interest credited and benefit claims incurred in excess of related policyholder account balances.

Premiums, policy fees, policyholder benefits and expenses are presented net of reinsurance.

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles

The Company incurs significant costs in connection with acquiring new and renewal insurance business. Costs that are related directly to the successful acquisition or renewal of insurance contracts are capitalized as DAC. Such costs include:


•	incremental direct costs of contract acquisition, such as commissions;


•	the portion of an employee’s total compensation and benefits related to time spent selling, underwriting or processing the issuance of new and renewal insurance business only with respect to actual policies acquired or renewed;


•	other essential direct costs that would not have been incurred had a policy not been acquired or renewed; and


•	the costs of direct-response advertising, the primary purpose of which is to elicit sales to customers who could be shown to have responded specifically to the advertising and that results in probable future benefits.

All other acquisition-related costs, including those related to general advertising and solicitation, market research, agent training, product development, unsuccessful sales and underwriting efforts, as well as all indirect costs, are expensed as incurred.

Value of business acquired (“VOBA”) is an intangible asset resulting from a business combination that represents the excess of book value over the estimated fair value of acquired insurance, annuity, and investment-type contracts in-force at the acquisition date. The estimated fair value of the acquired liabilities is based on projections, by each block of business, of future policy and contract charges, premiums, mortality and morbidity, separate account performance, surrenders, operating expenses, investment returns, nonperformance risk adjustment and other factors. Actual experience on the purchased business may vary from these projections.

DAC and VOBA are amortized as follows:



Products:		In proportion to the following over estimated lives of the contracts:
•	Nonparticipating and non-dividend-paying traditional contracts (primarily term insurance)		Actual and expected future gross premiums.
•	Participating, dividend-paying traditional contracts		Actual and expected future gross margins.
•	Fixed and variable universal life contracts		Actual and expected future gross profits.
•	Fixed and variable deferred annuity contracts

See Note 6 for additional information on DAC and VOBA amortization. Amortization of DAC and VOBA is included in other expenses.

The recovery of DAC and VOBA is dependent upon the future profitability of the related business. DAC and VOBA are aggregated in the financial statements for reporting purposes.

The Company generally has two different types of sales inducements which are included in other assets: (i) the policyholder receives a bonus whereby the policyholder’s initial account balance is increased by an amount equal to a specified percentage of the customer’s deposit; and (ii) the policyholder receives a higher interest rate using a dollar cost averaging method than would have been received based on the normal general account interest rate credited. The Company defers sales inducements and amortizes them over the life of the policy using the same methodology and assumptions used to amortize DAC. The amortization of sales inducements is included in policyholder benefits and claims. Each year, or more frequently if circumstances indicate a potential recoverability issue exists, the Company reviews deferred sales inducements (“DSI”) to determine the recoverability of the asset.

Value of distribution agreements acquired (“VODA”) is reported in other assets and represents the present value of expected future profits associated with the expected future business derived from the distribution agreements acquired as part of a business combination. Value of customer relationships acquired (“VOCRA”) is also reported in other assets and represents the present value of the expected future profits associated with the expected future business acquired through existing customers of the acquired company or business. The VODA and VOCRA associated with past business combinations are amortized over useful lives ranging from 10 to 30 years and such amortization is included in other expenses. Each year, or more frequently if circumstances indicate a possible impairment exists, the Company reviews VODA and VOCRA to determine whether the asset is impaired.

Reinsurance

For each of its reinsurance agreements, the Company determines whether the agreement provides indemnification against loss or liability relating to insurance risk in accordance with applicable accounting standards. Cessions under reinsurance agreements do not discharge the Company’s obligations as the primary insurer. The Company reviews all contractual features, including those that may limit the amount of insurance risk to which the reinsurer is subject or features that delay the timely reimbursement of claims.

For reinsurance of existing in-force blocks of long-duration contracts that transfer significant insurance risk, the difference, if any, between the amounts paid (received), and the liabilities ceded (assumed) related to the underlying contracts is considered the net cost of reinsurance at the inception of the reinsurance agreement. The net cost of reinsurance is recorded as an adjustment to DAC when there is a gain at inception on the ceding entity and to other liabilities when there is a loss at inception. The net cost of reinsurance is recognized as a component of other expenses when there is a gain at inception and as policyholder benefits and claims when there is a loss and is subsequently amortized on a basis consistent with the methodology used for amortizing DAC related to the underlying reinsured contracts. Subsequent amounts paid (received) on the reinsurance of in-force blocks, as well as amounts paid (received) related to new business, are recorded as ceded (assumed) premiums and ceded (assumed) premiums, reinsurance and other receivables (future policy benefits) are established.

Amounts currently recoverable under reinsurance agreements are included in premiums, reinsurance and other receivables and amounts currently payable are included in other liabilities. Assets and liabilities relating to reinsurance agreements with the same reinsurer may be recorded net on the balance sheet, if a right of offset exists within the reinsurance agreement. In the event that reinsurers do not meet their obligations to the Company under the terms of the reinsurance agreements, reinsurance recoverable balances could become uncollectible. In such instances, reinsurance recoverable balances are stated net of allowances for uncollectible reinsurance.

The funds withheld liability represents amounts withheld by the Company in accordance with the terms of the reinsurance agreements. The Company withholds the funds rather than transferring the underlying investments and, as a result, records funds withheld liability within other liabilities. The Company recognizes interest on funds withheld, included in other expenses, at rates defined by the terms of the agreement which may be contractually specified or directly related to the investment portfolio.

Premiums, fees and policyholder benefits and claims include amounts assumed under reinsurance agreements and are net of reinsurance ceded. Amounts received from reinsurers for policy administration are reported in other revenues. With respect to GMIBs, a portion of the directly written GMIBs are accounted for as insurance liabilities, but the associated reinsurance agreements contain embedded derivatives. These embedded derivatives are included in premiums, reinsurance and other receivables with changes in estimated fair value reported in net derivative gains (losses).

If the Company determines that a reinsurance agreement does not expose the reinsurer to a reasonable possibility of a significant loss from insurance risk, the Company records the agreement using the deposit method of accounting. Deposits received are included in other liabilities and deposits made are included within premiums, reinsurance and other receivables. As amounts are paid or received, consistent with the underlying contracts, the deposit assets or liabilities are adjusted. Interest on such deposits is recorded as other revenues or other expenses, as appropriate. Periodically, the Company evaluates the adequacy of the expected payments or recoveries and adjusts the deposit asset or liability through other revenues or other expenses, as appropriate. Certain assumed GMWB, GMAB and GMIB are also accounted for as embedded derivatives with changes in estimated fair value reported in net derivative gains (losses).

Investments

Net Investment Income and Net Investment Gains (Losses)

Income from investments is reported within net investment income, unless otherwise stated herein. Gains and losses on sales of investments, impairment losses and changes in valuation allowances are reported within net investment gains (losses), unless otherwise stated herein.

Fixed Maturity and Equity Securities

The majority of the Company’s fixed maturity and equity securities are classified as available-for-sale (“AFS”) and are reported at their estimated fair value. Unrealized investment gains and losses on these securities are recorded as a separate component of other comprehensive income (loss) (“OCI”), net of policy-related amounts and deferred income taxes. All security transactions are recorded on a trade date basis. Investment gains and losses on sales are determined on a specific identification basis.

Interest income and prepayment fees are recognized when earned. Interest income is recognized using an effective yield method giving effect to amortization of premiums and accretion of discounts. Dividends on equity securities are recognized when declared.

The Company periodically evaluates fixed maturity and equity securities for impairment. The assessment of whether impairments have occurred is based on management’s case-by-case evaluation of the underlying reasons for the decline in estimated fair value, as well as an analysis of the gross unrealized losses by severity and/or age as described in Note 8 “— Evaluation of AFS Securities for OTTI and Evaluating Temporarily Impaired AFS Securities.”

For fixed maturity securities in an unrealized loss position, an other-than-temporary impairment (“OTTI”) is recognized in earnings when it is anticipated that the amortized cost will not be recovered. When either: (i) the Company has the intent to sell the security; or (ii) it is more likely than not that the Company will be required to sell the security before recovery, the OTTI recognized in earnings is the entire difference between the security’s amortized cost and estimated fair value. If neither of these conditions exists, the difference between the amortized cost of the security and the present value of projected future cash flows expected to be collected is recognized as an OTTI in earnings (“credit loss”). If the estimated fair value is less than the present value of projected future cash flows expected to be collected, this portion of OTTI related to other-than-credit factors (“noncredit loss”) is recorded in OCI.

With respect to equity securities, the Company considers in its OTTI analysis its intent and ability to hold a particular equity security for a period of time sufficient to allow for the recovery of its estimated fair value to an amount equal to or greater than cost. If a sale decision is made for an equity security and recovery to an amount at least equal to cost prior to the sale is not expected, the security will be deemed to be other-than-temporarily impaired in the period that the sale decision was made and an OTTI loss will be recorded in earnings. The OTTI loss recognized is the entire difference between the security’s cost and its estimated fair value.

Mortgage Loans

The Company disaggregates its mortgage loan investments into three portfolio segments: commercial, agricultural and residential. The accounting policies that are applicable to all portfolio segments are presented below and the accounting policies related to each of the portfolio segments are included in Note 8.

Mortgage loans are stated at unpaid principal balance, adjusted for any unamortized premium or discount, deferred fees or expenses, and are net of valuation allowances. Interest income and prepayment fees are recognized when earned. Interest income is recognized using an effective yield method giving effect to amortization of premiums and accretion of discounts.

Also included in mortgage loans are commercial mortgage loans held by consolidated securitization entities (“CSEs”) for which the fair value option (“FVO”) was elected, which are stated at estimated fair value. Changes in estimated fair value are recognized in net investment gains (losses) for commercial mortgage loans held by CSEs.

Policy Loans

Policy loans are stated at unpaid principal balances. Interest income is recorded as earned using the contractual interest rate. Generally, accrued interest is capitalized on the policy’s anniversary date. Valuation allowances are not established for policy loans, as they are fully collateralized by the cash surrender value of the underlying insurance policies. Any unpaid principal and accrued interest is deducted from the cash surrender value or the death benefit prior to settlement of the insurance policy.

Real Estate

Real estate held-for-investment is stated at cost less accumulated depreciation. Depreciation is recorded on a straight-line basis over the estimated useful life of the asset (typically 20 to 55 years). Rental income is recognized on a straight-line basis over the term of the respective leases. The Company periodically reviews its real estate held-for-investment for impairment and tests for recoverability whenever events or changes in circumstances indicate the carrying value may not be recoverable and exceeds its estimated fair value. Properties whose carrying values are greater than their undiscounted cash flows are written down to their estimated fair value, which is generally computed using the present value of expected future cash flows discounted at a rate commensurate with the underlying risks.

Real estate for which the Company commits to a plan to sell within one year and actively markets in its current condition for a reasonable price in comparison to its estimated fair value is classified as held-for-sale. Real estate held-for-sale is stated at the lower of depreciated cost or estimated fair value less expected disposition costs and is not depreciated.

Real Estate Joint Ventures and Other Limited Partnership Interests

The Company uses the equity method of accounting for equity securities when it has significant influence or at least 20% interest and for real estate joint ventures and other limited partnership interests (“investees”) when it has more than a minor ownership interest or more than a minor influence over the investee’s operations, but does not have a controlling financial interest. The Company generally recognizes its share of the investee’s earnings 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.

The Company uses the cost method of accounting for investments in which it has virtually no influence over the investee’s operations. The Company recognizes distributions on cost method investments as earned or received. Because of the nature and structure of these cost method investments, they do not meet the characteristics of an equity security in accordance with applicable accounting standards.

The Company routinely evaluates its equity method and cost method investments for impairment. For equity method investees, the Company considers financial and other information provided by the investee, other known information and inherent risks in the underlying investments, as well as future capital commitments, in determining whether an impairment has occurred. The Company considers its cost method investments for impairment when the carrying value of such investments exceeds the net asset value (“NAV”). The Company takes into consideration the severity and duration of this excess when determining whether the cost method investment is impaired.

Short-term Investments

Short-term investments include securities and other investments with remaining maturities of one year or less, but greater than three months, at the time of purchase and are stated at estimated fair value or amortized cost, which approximates estimated fair value. Short-term investments also include investments in affiliated money market pools.

Other Invested Assets

Other invested assets consist principally of the following:


•	Freestanding derivatives with positive estimated fair values which are described in “— Derivatives” below.


•	Funds withheld which represent a receivable for amounts contractually withheld by ceding companies in accordance with reinsurance agreements. The Company recognizes interest on funds withheld at rates defined by the terms of the agreement which may be contractually specified or directly related to the underlying investments.


•	Investments in an operating joint venture that engages in insurance underwriting activities which are accounted for under the equity method.


•	Tax credit and renewable energy partnerships which derive a significant source of investment return in the form of income tax credits or other tax incentives. Where tax credits are guaranteed by a creditworthy third party, the investment is accounted for under the effective yield method. Otherwise, the investment is accounted for under the equity method.


•	Leveraged leases which are recorded net of non-recourse debt. Income is recognized by applying the leveraged lease’s estimated rate of return to the net investment in the lease. The Company regularly reviews residual values for impairment.

Securities Lending Program

Securities lending transactions, whereby blocks of securities are loaned to third parties, primarily brokerage firms and commercial banks, are treated as financing arrangements and the associated liability is recorded at the amount of cash received. The Company obtains collateral at the inception of the loan, usually cash, in an amount generally equal to 102% of the estimated fair value of the securities loaned, and maintains it at a level greater than or equal to 100% for the duration of the loan. Securities loaned under such transactions may be sold or re-pledged by the transferee. The Company is liable to return to the counterparties the cash collateral received. Security collateral on deposit from counterparties in connection with securities lending transactions may not be sold or re-pledged, unless the counterparty is in default, and is not reflected on the Company’s financial statements. The Company monitors the estimated fair value of the securities loaned on a daily basis and additional collateral is obtained as necessary throughout the duration of the loan. Income and expenses associated with securities lending transactions are reported as investment income and investment expense, respectively, within net investment income.

Derivatives

Freestanding Derivatives

Freestanding derivatives are carried on the Company’s balance sheet either as assets within other invested assets or as liabilities within other liabilities at estimated fair value. The Company does not offset the estimated fair value amounts recognized for derivatives executed with the same counterparty under the same master netting agreement.

Accruals on derivatives are generally recorded in accrued investment income or within other liabilities. However, accruals that are not scheduled to settle within one year are included with the derivatives carrying value in other invested assets or other liabilities.

If a derivative is not designated as an accounting hedge or its use in managing risk does not qualify for hedge accounting, changes in the estimated fair value of the derivative are reported in net derivative gains (losses) except as follows:



Statement of Operations Presentation:	Derivative:
Policyholder benefits and claims	•	Economic hedges of variable annuity guarantees included in future policy benefits
Net investment income	•	Economic hedges of equity method investments in joint ventures

Hedge Accounting

To qualify for hedge accounting, at the inception of the hedging relationship, the Company formally documents its risk management objective and strategy for undertaking the hedging transaction, as well as its designation of the hedge. Hedge designation and financial statement presentation of changes in estimated fair value of the hedging derivatives are as follows:


•	Fair value hedge (a hedge of the estimated fair value of a recognized asset or liability) - in net derivative gains (losses), consistent with the change in estimated fair value of the hedged item attributable to the designated risk being hedged.

•

Cash flow hedge (a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability) - effectiveness in OCI (deferred gains or losses on the derivative are reclassified into the statement of operations when the Company’s earnings are affected by the variability in cash flows of the hedged item); ineffectiveness in net derivative gains (losses).

The changes in estimated fair values of the hedging derivatives are exclusive of any accruals that are separately reported on the statement of operations within interest income or interest expense to match the location of the hedged item.

In its hedge documentation, the Company sets forth how the hedging instrument is expected to hedge the designated risks related to the hedged item and sets forth the method that will be used to retrospectively and prospectively assess the hedging instrument’s effectiveness and the method that will be used to measure ineffectiveness. A derivative designated as a hedging instrument must be assessed as being highly effective in offsetting the designated risk of the hedged item. Hedge effectiveness is formally assessed at inception and at least quarterly throughout the life of the designated hedging relationship. Assessments of hedge effectiveness and measurements of ineffectiveness are also subject to interpretation and estimation and different interpretations or estimates may have a material effect on the amount reported in net income.

The Company discontinues hedge accounting prospectively when: (i) it is determined that the derivative is no longer highly effective in offsetting changes in the estimated fair value or cash flows of a hedged item; (ii) the derivative expires, is sold, terminated, or exercised; (iii) it is no longer probable that the hedged forecasted transaction will occur; or (iv) the derivative is de-designated as a hedging instrument.

When hedge accounting is discontinued because it is determined that the derivative is not highly effective in offsetting changes in the estimated fair value or cash flows of a hedged item, the derivative continues to be carried on the balance sheet at its estimated fair value, with changes in estimated fair value recognized in net derivative gains (losses). The carrying value of the hedged recognized asset or liability under a fair value hedge is no longer adjusted for changes in its estimated fair value due to the hedged risk, and the cumulative adjustment to its carrying value is amortized into income over the remaining life of the hedged item. Provided the hedged forecasted transaction is still probable of occurrence, the changes in estimated fair value of derivatives recorded in OCI related to discontinued cash flow hedges are released into the statement of operations when the Company’s earnings are affected by the variability in cash flows of the hedged item.

When hedge accounting is discontinued because it is no longer probable that the forecasted transactions will occur on the anticipated date or within two months of that date, the derivative continues to be carried on the balance sheet at its estimated fair value, with changes in estimated fair value recognized currently in net derivative gains (losses). Deferred gains and losses of a derivative recorded in OCI pursuant to the discontinued cash flow hedge of a forecasted transaction that is no longer probable are recognized immediately in net derivative gains (losses).

In all other situations in which hedge accounting is discontinued, the derivative is carried at its estimated fair value on the balance sheet, with changes in its estimated fair value recognized in the current period as net derivative gains (losses).

Embedded Derivatives

The Company sells variable annuities and issues certain insurance products and investment contracts and is a party to certain reinsurance agreements that have embedded derivatives. The Company assesses each identified embedded derivative to determine whether it is required to be bifurcated. The embedded derivative is bifurcated from the host contract and accounted for as a freestanding derivative if:


•	the combined instrument is not accounted for in its entirety at estimated fair value with changes in estimated fair value recorded in earnings;


•	the terms of the embedded derivative are not clearly and closely related to the economic characteristics of the host contract; and


•	a separate instrument with the same terms as the embedded derivative would qualify as a derivative instrument.

Such embedded derivatives are carried on the balance sheet at estimated fair value with the host contract and changes in their estimated fair value are generally reported in net derivative gains (losses), except for those in policyholder benefits and claims related to ceded reinsurance of GMIB. If the Company is unable to properly identify and measure an embedded derivative for separation from its host contract, the entire contract is carried on the balance sheet at estimated fair value, with changes in estimated fair value recognized in the current period in net investment gains (losses) or net investment income. Additionally, the Company may elect to carry an entire contract on the balance sheet at estimated fair value, with changes in estimated fair value recognized in the current period in net investment gains (losses) or net investment income if that contract contains an embedded derivative that requires bifurcation. At inception, the Company attributes to the embedded derivative a portion of the projected future guarantee fees to be collected from the policyholder equal to the present value of projected future guaranteed benefits. Any additional fees represent “excess” fees and are reported in universal life and investment-type product policy fees.

Fair Value

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. In most cases, the exit price and the transaction (or entry) price will be the same at initial recognition.

Subsequent to initial recognition, fair values are based on unadjusted quoted prices for identical assets or liabilities in active markets that are readily and regularly obtainable. When such quoted prices are not available, fair values are based on quoted prices in markets that are not active, quoted prices for similar but not identical assets or liabilities, or other observable inputs. If these inputs are not available, or observable inputs are not determinable, unobservable inputs and/or adjustments to observable inputs requiring management judgment are used to determine the estimated fair value of assets and liabilities.

Goodwill

Goodwill represents the future economic benefits arising from net assets acquired in a business combination that are not individually identified and recognized. Goodwill is calculated as the excess of cost over the estimated fair value of such net assets acquired, is not amortized, and is tested for impairment based on a fair value approach at least annually or more frequently if events or circumstances indicate that there may be justification for conducting an interim test. The Company performs its annual goodwill impairment testing during the third quarter of each year based upon data as of the close of the second quarter. Goodwill associated with a business acquisition is not tested for impairment during the year the business is acquired unless there is a significant identified impairment event.

The impairment test is performed at the reporting unit level, which is the operating segment or a business one level below the operating segment, if discrete financial information is prepared and regularly reviewed by management at that level. For purposes of goodwill impairment testing, if the carrying value of a reporting unit exceeds its estimated fair value, there may be an indication of impairment. In such instances, the implied fair value of the goodwill is determined in the same manner as the amount of goodwill that would be determined in a business combination. The excess of the carrying value of goodwill over the implied fair value of goodwill would be recognized as an impairment and recorded as a charge against net income.

On an ongoing basis, the Company evaluates potential triggering events that may affect the estimated fair value of the Company’s reporting units to assess whether any goodwill impairment exists. Deteriorating or adverse market conditions for certain reporting units may have a significant impact on the estimated fair value of these reporting units and could result in future impairments of goodwill.

Income Tax

MetLife Insurance Company USA and its includable subsidiaries join with MetLife, Inc. and its includable subsidiaries in filing a consolidated U.S. life and non-life federal income tax return in accordance with the provisions of the Internal Revenue Code of 1986, as amended. Current taxes (and the benefits of tax attributes such as losses) are allocated to MetLife Insurance Company USA and its subsidiaries under the consolidated tax return regulations and a tax sharing agreement. Under the consolidated tax return regulations, MetLife, Inc. has elected the “percentage method” (and 100% under such method) of reimbursing companies for tax attributes e.g. net operating losses. As a result, 100% of tax attributes are reimbursed by MetLife, Inc. to the extent that consolidated federal income tax of the consolidated federal tax return group is reduced in a year by tax attributes. On an annual basis, each of the profitable subsidiaries pays to MetLife, Inc. the federal income tax which it would have paid based upon that year’s taxable income. If MetLife Insurance Company USA or its includable subsidiaries has current or prior deductions and credits (including but not limited to losses) which reduce the consolidated tax liability of the consolidated federal tax return group, the deductions and credits are characterized as realized (or realizable) by MetLife Insurance Company USA and its includable subsidiaries when those tax attributes are realized (or realizable) by the consolidated federal tax return group, even if MetLife Insurance Company USA or its includable subsidiaries would not have realized the attributes on a stand-alone basis under a “wait and see” method.

The Company’s accounting for income taxes represents management’s best estimate of various events and transactions.

Deferred tax assets and liabilities resulting from temporary differences between the financial reporting and tax bases of assets and liabilities are measured at the balance sheet date using enacted tax rates expected to apply to taxable income in the years the temporary differences are expected to reverse.

The realization of deferred tax assets depends upon the existence of sufficient taxable income within the carryback or carryforward periods under the tax law in the applicable tax jurisdiction. Valuation allowances are established when management determines, based on available information, that it is more likely than not that deferred income tax assets will not be realized. Significant judgment is required in determining whether valuation allowances should be established, as well as the amount of such allowances. When making such determination the Company considers many factors, including:


•	the nature, frequency, and amount of cumulative financial reporting income and losses in recent years;


•	the jurisdiction in which the deferred tax asset was generated;


•	the length of time that carryforward can be utilized in the various taxing jurisdiction;


•	future taxable income exclusive of reversing temporary differences and carryforwards;


•	future reversals of existing taxable temporary differences;


•	taxable income in prior carryback years; and


•	tax planning strategies.

The Company may be required to change its provision for income taxes when estimates used in determining valuation allowances on deferred tax assets significantly change or when receipt of new information indicates the need for adjustment in valuation allowances. Additionally, the effect of changes in tax laws, tax regulations, or interpretations of such laws or regulations, is recognized in net income tax expense (benefit) in the period of change.

The Company determines whether it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authorities before any part of the benefit can be recorded in the financial statements. A tax position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. Unrecognized tax benefits due to tax uncertainties that do not meet the threshold are included within other liabilities and are charged to earnings in the period that such determination is made.

The Company classifies interest recognized as interest expense and penalties recognized as a component of income tax expense.

Litigation Contingencies

The Company is a party to a number of legal actions and is involved in a number of regulatory investigations. Given the inherent unpredictability of these matters, it is difficult to estimate the impact on the Company’s financial position. Liabilities are established when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Legal costs are recognized as incurred. On a quarterly and annual basis, the Company reviews relevant information with respect to liabilities for litigation, regulatory investigations and litigation-related contingencies to be reflected on the Company’s financial statements.

Other Accounting Policies

Cash and Cash Equivalents

The Company considers all highly liquid securities and other investments purchased with an original or remaining maturity of three months or less at the date of purchase to be cash equivalents. Cash equivalents are stated at amortized cost, which approximates estimated fair value.

Property, Equipment, Leasehold Improvements and Computer Software

Property, equipment and leasehold improvements, which are included in other assets, are stated at cost, less accumulated depreciation and amortization. Depreciation is determined using the straight-line method over the estimated useful lives of the assets, as appropriate. Estimated lives generally range from five to 10 years for leasehold improvements, and from three to seven years for all other property and equipment. The net book value of the property, equipment and leasehold improvements was insignificant at both December 31, 2015 and 2014.

Computer software, which is included in other assets, is stated at cost, less accumulated amortization. Purchased software costs, as well as certain internal and external costs incurred to develop internal-use computer software during the application development stage, are capitalized. Such costs are amortized generally over a four-year period using the straight-line method. The cost basis of computer software was $254 million and $235 million at December 31, 2015 and 2014, respectively. Accumulated amortization of capitalized software was $107 million at both December 31, 2015 and 2014. Related amortization expense was less than $1 million, $2 million and $7 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Other Revenues

Other revenues primarily include, in addition to items described elsewhere herein, fee income on financial reinsurance agreements and broker-dealer fees.

Employee Benefit Plans

Pension, postretirement and postemployment benefits are provided to associates under plans sponsored and administered by Metropolitan Life Insurance Company (“MLIC”), an affiliate of the Company. The Company’s obligation and expense related to these benefits is limited to the amount of associated expense allocated from MLIC.

Foreign Currency

Assets, liabilities and operations of foreign affiliates and subsidiaries are recorded based on the functional currency of each entity. The determination of the functional currency is made based on the appropriate economic and management indicators. The local currencies of foreign operations are the functional currencies. Assets and liabilities of foreign affiliates and subsidiaries are translated from the functional currency to U.S. dollars at the exchange rates in effect at each year-end and revenues and expenses are translated at the average exchange rates during the year. The resulting translation adjustments are charged or credited directly to OCI, net of applicable taxes. Gains and losses from foreign currency transactions, including the effect of re-measurement of monetary assets and liabilities to the appropriate functional currency, are reported as part of net investment gains (losses) in the period in which they occur.

Adoption of New Accounting Pronouncements

Effective November 18, 2014, the Company adopted new guidance on when, if ever, the cost of acquiring an entity should be used to establish a new accounting basis (“pushdown”) in the acquired entity’s separate financial statements. The guidance provides an acquired entity and its subsidiaries with an irrevocable option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. If a reporting entity elects to apply pushdown accounting, its stand-alone financial statements would reflect the acquirer’s new basis in the acquired entity’s assets and liabilities. The election to apply pushdown accounting should be determined by an acquired entity for each individual change-in-control event in which an acquirer obtains control of the acquired entity; however, an entity that does not elect to apply pushdown accounting in the period of a change-in-control can later elect to retrospectively apply pushdown accounting to the most recent change-in-control transaction as a change in accounting principle. The new guidance did not have a material impact on the consolidated financial statements upon adoption.

Effective January 1, 2014, the Company adopted new guidance regarding reporting of discontinued operations and disclosures of disposals of components of an entity. The guidance increases the threshold for a disposal to qualify as a discontinued operation, expands the disclosures for discontinued operations and requires new disclosures for certain disposals that do not meet the definition of a discontinued operation. Disposals must now represent a strategic shift that has or will have a major effect on the entity’s operations and financial results to qualify as discontinued operations. As discussed in Note 4, the Company sold its wholly-owned subsidiary, MetLife Assurance Limited (“MAL”). As a result of the adoption of this new guidance, the results of operations of MAL and the loss on sale have been included in income from continuing operations.

Effective July 17, 2013, the Company adopted guidance regarding derivatives that permits the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) to be used as a U.S. benchmark interest rate for hedge accounting purposes, in addition to the United States Treasury and London Interbank Offered Rate (“LIBOR”). Also, this new guidance removes the restriction on using different benchmark rates for similar hedges. The new guidance did not have a material impact on the consolidated financial statements upon adoption.

Effective January 1, 2013, the Company adopted guidance regarding comprehensive income that requires an entity to provide information about the amounts reclassified out of accumulated OCI (“AOCI”) by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. The adoption was prospectively applied and resulted in additional disclosures in Note 13.

Effective January 1, 2013, the Company adopted guidance regarding balance sheet offsetting disclosures which requires an entity to disclose information about offsetting and related arrangements for derivatives, including bifurcated embedded derivatives, repurchase and reverse repurchase agreements, and securities borrowing and lending transactions, to enable users of its financial statements to understand the effects of those arrangements on its financial position. Entities are required to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. The adoption was retrospectively applied and resulted in additional disclosures related to derivatives in Note 9.

Future Adoption of New Accounting Pronouncements

In January 2016, the Financial Accounting Standards Board (“FASB”) issued new guidance (Accounting Standards Update (“ASU”) 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities) on the recognition and measurement of financial instruments. The new guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted for the instrument-specific credit risk provision. The new guidance changes the current accounting guidance related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the FVO that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.

In May 2015, the FASB issued new guidance on fair value measurement (ASU 2015‑07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)), effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years and which should be applied retrospectively to all periods presented. Earlier application is permitted. The amendments in this ASU remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using NAV per share (or its equivalent) practical expedient. In addition, the amendments remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share practical expedient. The adoption of this new guidance will not have a material impact on the Company’s consolidated financial statements.

In April 2015, the FASB issued new guidance on accounting for fees paid in a cloud computing arrangement (ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement), effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of the new guidance is permitted and an entity can elect to adopt the guidance either: (1) prospectively to all arrangements entered into or materially modified after the effective date; or (2) retrospectively. The new guidance provides that all software licenses included in cloud computing arrangements be accounted for consistent with other licenses of intangible assets. However, if a cloud computing arrangement does not include a software license, the arrangement should be accounted for as a service contract, the accounting for which did not change. The adoption of this new guidance will not have a material impact on the Company’s consolidated financial statements.

In February 2015, the FASB issued certain amendments to the consolidation analysis to improve consolidation guidance for legal entities (ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis), effective for fiscal years beginning after December 15, 2015 and interim periods within those years and early adoption is permitted. The new standard is intended to improve targeted areas of the consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures. The amendments in this ASU affect the consolidation evaluation for reporting organizations. In addition, the amendments in this ASU simplify and improve current GAAP by reducing the number of consolidation models. The adoption of this new guidance will not have a material impact on the Company’s consolidated financial statements.

In May 2014, the FASB issued a comprehensive new revenue recognition standard (ASU 2014‑09, Revenue from Contracts with Customers (Topic 606)), effective for fiscal years beginning after December 15, 2016 and interim periods within those years and should be applied retrospectively. In August 2015, the FASB amended the guidance to defer the effective date by one year, effective for the fiscal years beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The new guidance will supersede nearly all existing revenue recognition guidance under GAAP; however, it will not impact the accounting for insurance contracts, leases, financial instruments and guarantees. For those contracts that are impacted by the new guidance, the guidance will require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled, in exchange for those goods or services. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.

Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Information

2. Segment Information

The Company is organized into two segments: Retail and Corporate Benefit Funding. In addition, the Company reports certain of its results of operations in Corporate & Other.

On January 12, 2016, MetLife, Inc. announced its plan to pursue the separation of a substantial portion of its Retail segment, which is organized into two U.S. businesses, Life & Other and Annuities, as well as certain portions of its Corporate Benefit Funding segment and Corporate & Other (the “Separation”). See Note 18.

In the first quarter of 2015, the Company implemented certain segment reporting changes related to the measurement of segment operating earnings, which included revising the Company’s capital allocation methodology. These changes were applied retrospectively and did not have an impact on total consolidated operating earnings or net income.

Retail

The Retail segment offers a broad range of protection products and a variety of annuities primarily to individuals, and is organized into two U.S. businesses: Annuities and Life & Other. Annuities includes a variety of variable, fixed and equity index-linked annuities which provide for both asset accumulation and asset distribution needs. Life & Other insurance products and services include variable life, universal life, term life and whole life products, as well as individual disability income products. Additionally, through broker-dealer affiliates, the Company offers a full range of mutual funds and other securities products.

Corporate Benefit Funding

The Corporate Benefit Funding segment offers a broad range of annuity and investment products, including guaranteed interest contracts and other stable value products, income annuities and separate account contracts for the investment management of defined benefit and defined contribution plan assets. This segment also includes structured settlements and certain products to fund company-, bank- or trust-owned life insurance used to finance nonqualified benefit programs for executives.

Corporate & Other

Corporate & Other contains the excess capital not allocated to the segments, run-off businesses, the Company’s ancillary international operations, ancillary U.S. direct business sold direct to consumer, and interest expense related to the majority of the Company’s outstanding debt, as well as expenses associated with certain legal proceedings and income tax audit issues. Corporate & Other also includes assumed reinsurance of certain variable annuity products from a former affiliated operating joint venture in Japan. Under this in-force reinsurance agreement, the Company reinsures living and death benefit guarantees issued in connection with variable annuity products. Additionally, Corporate & Other includes a reinsurance agreement to assume certain blocks of indemnity reinsurance from an affiliate. These reinsurance agreements were recaptured effective November 1, 2014. Corporate & Other also includes the elimination of intersegment amounts.

Financial Measures and Segment Accounting Policies

Operating earnings is the measure of segment profit or loss the Company uses to evaluate segment performance and allocate resources. Consistent with GAAP accounting guidance for segment reporting, operating earnings is the Company’s measure of segment performance and is reported below. Operating earnings should not be viewed as a substitute for net income (loss). The Company believes the presentation of operating 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.

Operating earnings is defined as operating revenues less operating expenses, both net of income tax.

Operating revenues and operating expenses exclude results of discontinued operations and other businesses that have been or will be sold or exited by the Company and are referred to as divested businesses. Operating revenues also excludes net investment gains (losses) and net derivative gains (losses). Operating expenses also excludes goodwill impairments.

The following additional adjustments are made to GAAP revenues, in the line items indicated, in calculating operating 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 GMIB fees (“GMIB Fees”); and

•

Net investment income: (i) includes investment hedge adjustments which represent 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) includes income from discontinued real estate operations, (iii) excludes post-tax operating earnings adjustments relating to insurance joint ventures accounted for under the equity method and (iv) excludes certain amounts related to securitization entities that are VIEs consolidated under GAAP.

The following additional adjustments are made to GAAP expenses, in the line items indicated, in calculating operating expenses:


•	Policyholder benefits and claims excludes: (i) amounts associated with periodic crediting rate adjustments based on the total return of a contractually referenced pool of assets, (ii) benefits and hedging costs related to GMIBs (“GMIB Costs”) and (iii) 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 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 costs related to: (i) implementation of new insurance regulatory requirements and (ii) acquisition and integration costs.

In the first quarter of 2015, the Company implemented certain segment reporting changes related to the measurement of segment operating earnings, which included revising the Company’s capital allocation methodology. Consequently, prior period results for the years ended December 31, 2014 and 2013 were impacted as follows:


•	Retail’s operating earnings increased (decreased) by $61 million and $25 million, net of ($177) million and ($144) million of income tax expense (benefit), respectively;


•	Corporate Benefit Funding’s operating earnings increased (decreased) by $1 million and ($15) million, net of ($4) million and ($9) million of income tax expense (benefit), respectively; and


•	Corporate & Other’s operating earnings increased (decreased) by ($62) million and ($10) million, net of $181 million and $153 million of income tax expense (benefit), respectively.

Set forth in the tables below is certain financial information with respect to the Company’s segments, as well as Corporate & Other, for the years ended December 31, 2015, 2014 and 2013 and at December 31, 2015 and 2014. The segment accounting policies are the same as those used to prepare the Company’s consolidated financial statements, except for operating 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 business.

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, operating earnings or net income (loss).

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.



	Operating Results
Year Ended December 31, 2015	Retail			Corporate Benefit Funding			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	1,170		$	15		$	248		$	1,433		$	—		$	1,433
Universal life and investment-type product policy fees	2,619			55			—			2,674			266			2,940
Net investment income	2,043			858			(60		)	2,841			(226		)	2,615
Other revenues	499			5			—			504			—			504
Net investment gains (losses)	—			—			—			—			36			36
Net derivative gains (losses)	—			—			—			—			(424		)	(424		)
Total revenues	6,331			933			188			7,452			(348		)	7,104
Expenses
Policyholder benefits and claims	1,770			414			206			2,390			306			2,696
Interest credited to policyholder account balances	927			107			—			1,034			3			1,037
Goodwill impairment	—			—			—			—			—			—
Capitalization of DAC	(252		)	(1		)	(72		)	(325		)	—			(325		)
Amortization of DAC and VOBA	643			1			23			667			(72		)	595
Interest expense on debt	—			—			68			68			8			76
Other expenses	1,755			46			170			1,971			—			1,971
Total expenses	4,843			567			395			5,805			245			6,050
Provision for income tax expense (benefit)	386			126			(89		)	423			(208		)	215
Operating earnings	$	1,102		$	240		$	(118	)	1,224
Adjustments to:
Total revenues										(348		)
Total expenses										(245		)
Provision for income tax (expense) benefit										208
Net income (loss)										$	839					$	839



At December 31, 2015	Retail		Corporate Benefit Funding		Corporate &Other		Total
	(In millions)
Total assets	$	167,142	$	25,043	$	10,177	$	202,362
Separate account assets	$	98,502	$	3,233	$	—	$	101,735
Separate account liabilities	$	98,502	$	3,233	$	—	$	101,735



	Operating Results
Year Ended December 31, 2014	Retail			Corporate Benefit Funding (1)			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	1,080		$	(26	)	$	96		$	1,150		$	2		$	1,152
Universal life and investment-type product policy fees	2,700			33			146			2,879			314			3,193
Net investment income	1,960			896			(109		)	2,747			(78		)	2,669
Other revenues	532			5			1			538			1			539
Net investment gains (losses)	—			—			—			—			(469		)	(469		)
Net derivative gains (losses)	—			—			—			—			(181		)	(181		)
Total revenues	6,272			908			134			7,314			(411		)	6,903
Expenses
Policyholder benefits and claims	1,768			390			55			2,213			551			2,764
Interest credited to policyholder account balances	943			116			—			1,059			3			1,062
Goodwill impairment	—			—			—			—			33			33
Capitalization of DAC	(221		)	(1		)	(57		)	(279		)	—			(279		)
Amortization of DAC and VOBA	678			2			22			702			288			990
Interest expense on debt	5			—			68			73			36			109
Other expenses	1,736			31			155			1,922			12			1,934
Total expenses	4,909			538			243			5,690			923			6,613
Provision for income tax expense (benefit)	341			125			(46		)	420			(425		)	(5		)
Operating earnings	$	1,022		$	245		$	(63	)	1,204
Adjustments to:
Total revenues										(411		)
Total expenses										(923		)
Provision for income tax (expense) benefit										425
Net income (loss)										$	295					$	295

____________


(1)	Premiums and policyholder benefits and claims both include ($87) million of ceded reinsurance with MLIC related to merger transactions. See Notes 3 and 7.



At December 31, 2014	Retail		Corporate Benefit Funding		Corporate & Other		Total
	(In millions)
Total assets	$	173,657	$	25,312	$	6,894	$	205,863
Separate account assets	$	106,667	$	2,194	$	—	$	108,861
Separate account liabilities	$	106,667	$	2,194	$	—	$	108,861



	Operating Results
Year Ended December 31, 2013	Retail			Corporate Benefit Funding			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	469		$	92		$	36		$	597		$	92		$	689
Universal life and investment-type product policy fees	2,648			35			179			2,862			268			3,130
Net investment income	1,897			982			(9		)	2,870			129			2,999
Other revenues	605			5			—			610			—			610
Net investment gains (losses)	—			—			—			—			27			27
Net derivative gains (losses)	—			—			—			—			441			441
Total revenues	5,619			1,114			206			6,939			957			7,896
Expenses
Policyholder benefits and claims	1,087			527			13			1,627			1,520			3,147
Interest credited to policyholder account balances	1,034			139			—			1,173			(5		)	1,168
Goodwill impairment	—			—			—			—			66			66
Capitalization of DAC	(483		)	(2		)	(27		)	(512		)	—			(512		)
Amortization of DAC and VOBA	586			5			1			592			(387		)	205
Interest expense on debt	5			—			68			73			122			195
Other expenses	1,932			21			77			2,030			19			2,049
Total expenses	4,161			690			132			4,983			1,335			6,318
Provision for income tax expense (benefit)	441			147			24			612			(175		)	437
Operating earnings	$	1,017		$	277		$	50		1,344
Adjustments to:
Total revenues										957
Total expenses										(1,335		)
Provision for income tax (expense) benefit										175
Net income (loss)										$	1,141					$	1,141

The following table presents total premiums, universal life and investment-type product policy fees and other revenues by major product groups of the Company’s segments, as well as Corporate & Other:



	Years Ended December 31,
	2015		2014		2013
	(In millions)
Annuities	$	3,568	$	3,926	$	3,486
Life insurance	1,176		953		937
Accident & health insurance	133		5		6
Total	$	4,877	$	4,884	$	4,429

Substantially all of the Company’s consolidated premiums, universal life and investment-type product policy fees and other revenues originated in the U.S.

Revenues derived from any customer did not exceed 10% of consolidated premiums, universal life and investment-type product policy fees and other revenues for the years ended December 31, 2015, 2014 and 2013.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Mergers	12 Months Ended
Mergers	Dec. 31, 2015
Business Combinations [Abstract]
Mergers	3. Mergers In November 2014, MetLife Insurance Company of Connecticut, a wholly-owned subsidiary of MetLife, Inc., re-domesticated from Connecticut to Delaware, changed its name to MetLife Insurance Company USA and merged with its subsidiary, MLI-USA, and its affiliate, MLIIC, each a U.S. insurance company that issued variable annuity products in addition to other products, and Exeter, a former offshore, captive reinsurance subsidiary of MetLife, Inc. and affiliate of MICC that mainly reinsured guarantees associated with variable annuity products (the “Mergers”). The surviving entity of the Mergers was MetLife USA. Exeter, formerly a Cayman Islands company, was re-domesticated to Delaware in October 2013. Prior to the Mergers, 40,000,000 authorized shares of common stock, of which 30,000,000 shares were issued and outstanding, were converted to 4,000 authorized shares of common stock, of which 3,000 shares were issued and outstanding. Prior to the Mergers, effective January 1, 2014, following receipt of New York State Department of Financial Services approval, MetLife Insurance Company of Connecticut withdrew its license to issue insurance policies and annuity contracts in New York. Also effective January 1, 2014, MetLife Insurance Company of Connecticut reinsured with MLIC, an affiliate, all existing New York insurance policies and annuity contracts that include a separate account feature and deposited investments with an estimated fair market value of $6.3 billion into a custodial account to secure MetLife Insurance Company of Connecticut’s remaining New York policyholder liabilities not covered by such reinsurance. Also prior to the Mergers, certain risks ceded to Exeter were recaptured. See Note 7 for information regarding additional reinsurance transactions. See Notes 8, 9 and 13 for information regarding additional transactions in connection with the Mergers. The Mergers represent a transaction among entities under common control and have been accounted for in a manner similar to the pooling-of-interests method, which requires that the merged entities be combined at their historical cost. The Company’s consolidated financial statements and related footnotes are presented as if the transaction occurred at the beginning of the earliest date presented and the prior periods have been retrospectively adjusted.

Dispositions	12 Months Ended
Dispositions	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	4. Disposition In May 2014, the Company completed the sale of its wholly-owned subsidiary, MAL, for $702 million (£418 million) in net cash consideration. As a result of the sale, a loss of $608 million ($436 million, net of income tax), was recorded for the year ended December 31, 2014, which includes a reduction to goodwill of $112 million ($94 million, net of income tax). The loss is reflected within net investment gains (losses) on the consolidated statements of operations and comprehensive income (loss). Compared to the expected loss at the time of the sales agreement, the actual loss on the sale was increased by net income from MAL of $77 million for the year ended December 31, 2014. MAL’s results of operations are included in continuing operations. They were historically included in the Corporate Benefit Funding segment.

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Insurance

12 Months Ended

Dec. 31, 2015

Insurance [Abstract]

Insurance

5. Insurance

Insurance Liabilities

Insurance liabilities, including affiliated insurance liabilities on reinsurance assumed and ceded, are comprised of future policy benefits, policyholder account balances and other policy-related balances. Information regarding insurance liabilities by segment, as well as Corporate & Other, was as follows at:



	December 31,
	2015		2014
	(In millions)
Retail	$	45,953	$	42,974
Corporate Benefit Funding	15,985		17,544
Corporate & Other	7,166		6,767
Total	$	69,104	$	67,285

See Note 7 for discussion of affiliated reinsurance liabilities included in the table above.

Future policy benefits are measured as follows:



Product Type:		Measurement Assumptions:
Participating life		Aggregate of (i) net level premium reserves for death and endowment policy benefits (calculated based upon the non-forfeiture interest rate of 4%, and mortality rates guaranteed in calculating the cash surrender values described in such contracts); and (ii) the liability for terminal dividends.
Nonparticipating life		Aggregate of the present value of expected future benefit payments and related expenses less the present value of expected future net premiums. Assumptions as to mortality and persistency are based upon the Company’s experience when the basis of the liability is established. Interest rate assumptions for the aggregate future policy benefit liabilities range from 3% to 8%.
Individual and group traditional fixed annuities after annuitization		Present value of expected future payments. Interest rate assumptions used in establishing such liabilities range from 3% to 8%.
Non-medical health insurance		The net level premium method and assumptions as to future morbidity, withdrawals and interest, which provide a margin for adverse deviation. Interest rate assumptions used in establishing such liabilities range from 4% to 7%.
Disabled lives		Present value of benefits method and experience assumptions as to claim terminations, expenses and interest. Interest rate assumptions used in establishing such liabilities range from 3% to 6%.

Participating business represented 3% and 6% of the Company’s life insurance in-force at December 31, 2015 and 2014, respectively. Participating policies represented 43%, 39% and 36% of gross traditional life insurance premiums for the years ended December 31, 2015, 2014 and 2013, respectively.

Policyholder account balances are equal to: (i) policy account values, which consist of an accumulation of gross premium payments; (ii) credited interest, ranging from less than 1% to 8%, less expenses, mortality charges and withdrawals; and (iii) fair value adjustments relating to business combinations.

Guarantees

The Company issues variable annuity products with guaranteed minimum benefits. GMABs, the non-life-contingent portion of GMWBs and the portion of certain GMIBs that does not require annuitization are accounted for as embedded derivatives in policyholder account balances and are further discussed in Note 9. Guarantees accounted for as insurance liabilities include:



Guarantee:			Measurement Assumptions:
GMDBs	•	A return of purchase payment upon death even if the account value is reduced to zero.	•	Present value of expected death benefits in excess of the projected account balance recognizing the excess ratably over the accumulation period based on the present value of total expected assessments.
	•	An enhanced death benefit may be available for an additional fee.	•	Assumptions are consistent with those used for amortizing DAC, and are thus subject to the same variability and risk.
			•	Investment performance and volatility assumptions are consistent with the historical experience of the appropriate underlying equity index, such as the S&P 500 Index.
			•	Benefit assumptions are based on the average benefits payable over a range of scenarios.
GMIBs	•	After a specified period of time determined at the time of issuance of the variable annuity contract, a minimum accumulation of purchase payments, even if the account value is reduced to zero, that can be annuitized to receive a monthly income stream that is not less than a specified amount.	•	Present value of expected income benefits in excess of the projected account balance at any future date of annuitization and recognizing the excess ratably over the accumulation period based on present value of total expected assessments.
	•	Certain contracts also provide for a guaranteed lump sum return of purchase premium in lieu of the annuitization benefit.	•	Assumptions are consistent with those used for estimating GMDB liabilities.
			•	Calculation incorporates an assumption for the percentage of the potential annuitizations that may be elected by the contractholder.
GMWBs	•	A return of purchase payment via partial withdrawals, even if the account value is reduced to zero, provided that cumulative withdrawals in a contract year do not exceed a certain limit.	•	Expected value of the life contingent payments and expected assessments using assumptions consistent with those used for estimating the GMDB liabilities.
	•	Certain contracts include guaranteed withdrawals that are life contingent.

Information regarding the liabilities for guarantees (excluding base policy liabilities and embedded derivatives) relating to annuity and universal and variable life contracts was as follows:



	Annuity Contracts						Universal and Variable Life Contracts
	GMDBs			GMIBs			Secondary Guarantees		Total
	(In millions)
Direct
Balance at January 1, 2013	$	260		$	1,027		$	1,368	$	2,655
Incurred guaranteed benefits	166			128			416		710
Paid guaranteed benefits	(22		)	—			—		(22		)
Balance at December 31, 2013	404			1,155			1,784		3,343
Incurred guaranteed benefits (1)	231			285			590		1,106
Paid guaranteed benefits	(24		)	—			—		(24		)
Balance at December 31, 2014	611			1,440			2,374		4,425
Incurred guaranteed benefits	248			317			413		978
Paid guaranteed benefits	(36		)	—			—		(36		)
Balance at December 31, 2015	$	823		$	1,757		$	2,787	$	5,367
Net Ceded/(Assumed)
Balance at January 1, 2013	$	(218	)	$	(134	)	$	985	$	633
Incurred guaranteed benefits	(26		)	(21		)	327		280
Paid guaranteed benefits	39			—			—		39
Balance at December 31, 2013	(205		)	(155		)	1,312		952
Incurred guaranteed benefits (1)	175			98			477		750
Paid guaranteed benefits	1			—			—		1
Balance at December 31, 2014	(29		)	(57		)	1,789		1,703
Incurred guaranteed benefits	19			(9		)	362		372
Paid guaranteed benefits	(33		)	—			—		(33		)
Balance at December 31, 2015	$	(43	)	$	(66	)	$	2,151	$	2,042
Net
Balance at January 1, 2013	$	478		$	1,161		$	383	$	2,022
Incurred guaranteed benefits	192			149			89		430
Paid guaranteed benefits	(61		)	—			—		(61		)
Balance at December 31, 2013	609			1,310			472		2,391
Incurred guaranteed benefits (1)	56			187			113		356
Paid guaranteed benefits	(25		)	—			—		(25		)
Balance at December 31, 2014	640			1,497			585		2,722
Incurred guaranteed benefits	229			326			51		606
Paid guaranteed benefits	(3		)	—			—		(3		)
Balance at December 31, 2015	$	866		$	1,823		$	636	$	3,325

______________


(1)	See Note 7.

Information regarding the Company’s guarantee exposure was as follows at:



	December 31,
	2015						2014
	In the Event of Death			At Annuitization			In the Event of Death			At Annuitization
	(In millions)
Annuity Contracts (1), (2)
Variable Annuity Guarantees
Total account value (3)	$	103,830		$	58,615		$	112,298		$	64,550
Separate account value	$	98,897		$	57,284		$	107,261		$	63,206
Net amount at risk	$	8,168	(4)	$	2,088	(5)	$	3,151	(4)	$	1,297	(5)
Average attained age of contractholders	66 years			66 years			65 years			65 years



	December 31,
	2015		2014
	Secondary Guarantees
	(In millions)
Universal and Variable Life Contracts (1)
Total account value (3)	$	6,919	$	6,702
Net amount at risk (6)	$	90,940	$	91,204
Average attained age of policyholders	59 years		59 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 direct business, but excludes offsets from hedging or reinsurance, if any. See Note 7 for a discussion of certain living and death benefit guarantees which have been reinsured. Therefore, the NARs presented reflect the economic exposures of living and death benefit guarantees associated with variable annuities, but not necessarily their impact on the Company.


(3)	Includes the contractholder’s investments in the general account and separate account, if applicable.


(4)	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.

(5)

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.


(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.

Account balances of contracts with guarantees were invested in separate account asset classes as follows at:



	December 31,
	2015		2014
	(In millions)
Fund Groupings:
Balanced	$	49,870	$	55,287
Equity	41,269		43,430
Bond	4,802		5,226
Money Market	768		801
Total	$	96,709	$	104,744

Obligations Under Funding Agreements

The Company issues fixed and floating rate funding agreements, which are denominated in either U.S. dollars or foreign currencies, to certain special purpose entities (“SPEs”) that have issued either debt securities or commercial paper for which payment of interest and principal is secured by such funding agreements. During the years ended December 31, 2015, 2014 and 2013, the Company issued $13.0 billion, $12.2 billion and $10.9 billion, respectively, and repaid $14.4 billion, $13.9 billion and $11.7 billion, respectively, of such funding agreements. At December 31, 2015 and 2014, liabilities for funding agreements outstanding, which are included in policyholder account balances, were $2.2 billion and $3.5 billion, respectively.

MetLife Insurance Company USA, is a member of regional banks in the Federal Home Loan Bank (“FHLB”) system (“FHLBanks”). Holdings of common stock of FHLBanks, included in equity securities, were as follows at:



	December 31,
	2015		2014
	(In millions)
FHLB of Pittsburgh	$	85	$	24
FHLB of Boston	$	36	$	55
FHLB of Des Moines	$	4	$	16

The Company has also entered into funding agreements with FHLBanks and the Federal Agricultural Mortgage Corporation, a federally chartered instrumentality of the U.S. (“Farmer Mac”). The liability for such funding agreements is included in policyholder account balances. Information related to such funding agreements was as follows at:



	Liability				Collateral
	December 31,
	2015		2014		2015			2014
	(In millions)
FHLB of Pittsburgh (1)	$	1,570	$	185	$	1,789	(2)	$	1,154	(2)
FHLB of Boston (1)	$	250	$	575	$	311	(2)	$	666	(2)
FHLB of Des Moines (1)	$	95	$	405	$	147	(2)	$	546	(2)
Farmer Mac (3)	$	—	$	200	$	—		$	231

______________

(1)

Represents funding agreements issued to the applicable FHLBank in exchange for cash and for which such FHLBank has been granted a lien on certain assets, some of which are in the custody of such FHLBank, including residential mortgage-backed securities (“RMBS”), to collateralize obligations under advances evidenced by funding agreements. The Company is permitted to withdraw any portion of the collateral in the custody of such FHLBank as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level. Upon any event of default by the Company, such FHLBank’s recovery on the collateral is limited to the amount of the Company’s liability to such FHLBank.


(2)	Advances are collateralized by mortgage-backed securities. The amount of collateral presented is at estimated fair value.

(3)

Represents funding agreements issued to certain SPEs that have issued debt securities for which payment of interest and principal is secured by such funding agreements, and such debt securities are also guaranteed as to payment of interest and principal by Farmer Mac. The obligations under these funding agreements are secured by a pledge of certain eligible agricultural real estate mortgage loans and may, under certain circumstances, be secured by other qualified collateral. The amount of collateral presented is at carrying value.

Liabilities for Unpaid Claims and Claim Expenses

Information regarding the liabilities for unpaid claims and claim expenses relating to group accident and non-medical health policies and contracts, which are reported in future policy benefits and other policy-related balances, was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Balance at January 1,	$	1,483		$	1,325		$	1,216
Less: Reinsurance recoverables	1,400			1,235			1,124
Net balance at January 1,	83			90			92
Incurred related to:
Current year	105			3			5
Prior years	—			2			4
Total incurred	105			5			9
Paid related to:
Current year	(30		)	—			—
Prior years	(10		)	(12		)	(11		)
Total paid	(40		)	(12		)	(11		)
Net balance at December 31,	148			83			90
Add: Reinsurance recoverables	1,545			1,400			1,235
Balance at December 31,	$	1,693		$	1,483		$	1,325

Separate Accounts

Separate account assets and liabilities include two categories of account types: pass-through separate accounts totaling $101.5 billion and $108.7 billion at December 31, 2015 and 2014, respectively, for which the policyholder assumes all investment risk, and separate accounts for which the Company contractually guarantees either a minimum return or account value to the policyholder which totaled $189 million and $187 million at December 31, 2015 and 2014, respectively. The latter category consisted of bank owned life insurance contracts. The average interest rate credited on these contracts was 2.56% and 2.52% at December 31, 2015 and 2014, respectively.

For the years ended December 31, 2015, 2014 and 2013, there were no investment gains (losses) on transfers of assets from the general account to the separate accounts.

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles

12 Months Ended

Dec. 31, 2015

Deferred Policy Acquisition Costs and Value of Business Acquired [Abstract]

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles

6. Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles

See Note 1 for a description of capitalized acquisition costs.

Nonparticipating and Non-Dividend-Paying Traditional Contracts

The Company amortizes DAC and VOBA related to these contracts (primarily term insurance) over the appropriate premium paying period in proportion to the actual and expected future gross premiums that were set at contract issue. The expected premiums are based upon the premium requirement of each policy and assumptions for mortality, persistency and investment returns at policy issuance, or policy acquisition (as it relates to VOBA), include provisions for adverse deviation, and are consistent with the assumptions used to calculate future policyholder benefit liabilities. These assumptions are not revised after policy issuance or acquisition unless the DAC or VOBA balance is deemed to be unrecoverable from future expected profits. Absent a premium deficiency, variability in amortization after policy issuance or acquisition is caused only by variability in premium volumes.

Participating, Dividend-Paying Traditional Contracts

The Company amortizes DAC related to these contracts over the estimated lives of the contracts in proportion to actual and expected future gross margins. The amortization includes interest based on rates in effect at inception or acquisition of the contracts. The future gross margins are dependent principally on investment returns, policyholder dividend scales, mortality, persistency, expenses to administer the business, creditworthiness of reinsurance counterparties and certain economic variables, such as inflation. Of these factors, the Company anticipates that investment returns, expenses, persistency and other factor changes, as well as policyholder dividend scales, are reasonably likely to impact significantly the rate of DAC amortization. Each reporting period, the Company updates the estimated gross margins with the actual gross margins for that period. When the actual gross margins change from previously estimated gross margins, the cumulative DAC amortization is re-estimated and adjusted by a cumulative charge or credit to current operations. When actual gross margins exceed those previously estimated, the DAC amortization will increase, resulting in a current period charge to earnings. The opposite result occurs when the actual gross margins are below the previously estimated gross margins. Each reporting period, the Company also updates the actual amount of business in-force, which impacts expected future gross margins. When expected future gross margins are below those previously estimated, the DAC amortization will increase, resulting in a current period charge to earnings. The opposite result occurs when the expected future gross margins are above the previously estimated expected future gross margins. Each period, the Company also reviews the estimated gross margins for each block of business to determine the recoverability of DAC balances.

Fixed and Variable Universal Life Contracts and Fixed and Variable Deferred Annuity Contracts

The Company amortizes DAC and VOBA related to these contracts over the estimated lives of the contracts in proportion to actual and expected future gross profits. The amortization includes interest based on rates in effect at inception or acquisition of the contracts. The amount of future gross profits is dependent principally upon returns in excess of the amounts credited to policyholders, mortality, persistency, interest crediting rates, expenses to administer the business, creditworthiness of reinsurance counterparties, the effect of any hedges used and certain economic variables, such as inflation. Of these factors, the Company anticipates that investment returns, expenses and persistency are reasonably likely to impact significantly the rate of DAC and VOBA amortization. Each reporting period, the Company updates the estimated gross profits with the actual gross profits for that period. When the actual gross profits change from previously estimated gross profits, the cumulative DAC and VOBA amortization is re-estimated and adjusted by a cumulative charge or credit to current operations. When actual gross profits exceed those previously estimated, the DAC and VOBA amortization will increase, resulting in a current period charge to earnings. The opposite result occurs when the actual gross profits are below the previously estimated gross profits. Each reporting period, the Company also updates the actual amount of business remaining in-force, which impacts expected future gross profits. When expected future gross profits are below those previously estimated, the DAC and VOBA amortization will increase, resulting in a current period charge to earnings. The opposite result occurs when the expected future gross profits are above the previously estimated expected future gross profits. Each period, the Company also reviews the estimated gross profits for each block of business to determine the recoverability of DAC and VOBA balances.

Factors Impacting Amortization

Separate account rates of return on variable universal life contracts and variable deferred annuity contracts affect in-force account balances on such contracts each reporting period, which can result in significant fluctuations in amortization of DAC and VOBA. Returns that are higher than the Company’s long-term expectation produce higher account balances, which increases the Company’s future fee expectations and decreases future benefit payment expectations on minimum death and living benefit guarantees, resulting in higher expected future gross profits. The opposite result occurs when returns are lower than the Company’s long-term expectation. The Company’s practice to determine the impact of gross profits resulting from returns on separate accounts assumes that long-term appreciation in equity markets is not changed by short-term market fluctuations, but is only changed when sustained interim deviations are expected. The Company monitors these events and only changes the assumption when its long-term expectation changes.

The Company also periodically reviews other long-term assumptions underlying the projections of estimated gross margins and profits. These assumptions primarily relate to investment returns, policyholder dividend scales, interest crediting rates, mortality, persistency and expenses to administer business. Management annually updates assumptions used in the calculation of estimated gross margins and profits which may have significantly changed. If the update of assumptions causes expected future gross margins and profits to increase, DAC and VOBA amortization will decrease, resulting in a current period increase to earnings. The opposite result occurs when the assumption update causes expected future gross margins and profits to decrease.

Periodically, the Company modifies product benefits, features, rights or coverages that occur by the exchange of a contract for a new contract, or by amendment, endorsement, or rider to a contract, or by election or coverage within a contract. If such modification, referred to as an internal replacement, substantially changes the contract, the associated DAC or VOBA is written off immediately through income and any new deferrable costs associated with the replacement contract are deferred. If the modification does not substantially change the contract, the DAC or VOBA amortization on the original contract will continue and any acquisition costs associated with the related modification are expensed.

Amortization of DAC and VOBA is attributed to net investment gains (losses) and net derivative gains (losses), and to other expenses for the amount of gross margins or profits originating from transactions other than investment gains and losses. Unrealized investment gains and losses represent the amount of DAC and VOBA that would have been amortized if such gains and losses had been recognized.

Information regarding DAC and VOBA was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
DAC
Balance at January 1,	$	4,162		$	4,795		$	4,086
Capitalizations	325			279			512
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	188			(152		)	219
Other expenses	(639		)	(699		)	(287		)
Total amortization	(451		)	(851		)	(68		)
Unrealized investment gains (losses)	95			(61		)	83
Other (1)	—			—			182
Balance at December 31,	4,131			4,162			4,795
VOBA
Balance at January 1,	728			896			718
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	(19		)	(1		)	5
Other expenses	(125		)	(138		)	(142		)
Total amortization	(144		)	(139		)	(137		)
Unrealized investment gains (losses)	94			(29		)	315
Balance at December 31,	678			728			896
Total DAC and VOBA
Balance at December 31,	$	4,809		$	4,890		$	5,691

______________

(1)

The year ended December 31, 2013 includes $182 million that was reclassified to DAC from premiums, reinsurance and other receivables. The amounts reclassified related to an affiliated reinsurance agreement accounted for using the deposit method of accounting and represented the DAC amortization on the expense allowances ceded on the agreement from inception. These amounts were previously included in the calculated value of the deposit receivable on this agreement and recorded within premiums, reinsurance and other receivables.

Information regarding total DAC and VOBA by segment, as well as Corporate & Other, was as follows at:



	December 31,
	2015		2014
	(In millions)
Retail	$	4,694	$	4,824
Corporate Benefit Funding	6		5
Corporate & Other	109		61
Total	$	4,809	$	4,890

Information regarding other intangibles was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
DSI
Balance at January 1,	$	522		$	619		$	633
Capitalization	3			4			6
Amortization	(64		)	(73		)	(20		)
Unrealized investment gains (losses)	17			(28		)	—
Balance at December 31,	$	478		$	522		$	619
VODA and VOCRA
Balance at January 1,	$	142		$	159		$	175
Amortization	(17		)	(17		)	(16		)
Balance at December 31,	$	125		$	142		$	159
Accumulated amortization	$	115		$	98		$	81

The estimated future amortization expense to be reported in other expenses for the next five years is as follows:



	VOBA		VODA and VOCRA
	(In millions)
2016	$	122	$	12
2017	$	100	$	11
2018	$	83	$	10
2019	$	69	$	9
2020	$	54	$	8

Reinsurance

12 Months Ended

Dec. 31, 2015

Reinsurance Disclosures [Abstract]

Reinsurance

7. Reinsurance

The Company enters into reinsurance agreements primarily as a purchaser of reinsurance for its various insurance products and also as a provider of reinsurance for some insurance products issued by affiliated and unaffiliated companies. The Company participates in reinsurance activities in order to limit losses, minimize exposure to significant risks and provide additional capacity for future growth.

Accounting for reinsurance requires extensive use of assumptions and estimates, particularly related to the future performance of the underlying business and the potential impact of counterparty credit risks. The Company periodically reviews actual and anticipated experience compared to the aforementioned assumptions used to establish assets and liabilities relating to ceded and assumed reinsurance and evaluates the financial strength of counterparties to its reinsurance agreements using criteria similar to that evaluated in the security impairment process discussed in Note 8.

Retail

The Company’s Retail Annuities business currently reinsures 90% of certain fixed annuities to an affiliate. The Company also reinsures portions of the living and death benefit guarantees issued in connection with certain variable annuities to unaffiliated reinsurers. Under these reinsurance agreements, the Company pays a reinsurance premium generally based on fees associated with the guarantees collected from policyholders, and receives reimbursement for benefits paid or accrued in excess of account values, subject to certain limitations. The Company also assumes 100% of the living and death benefit guarantees issued in connection with certain variable annuities issued by certain affiliates.

For its Retail Life & Other insurance products, the Company has historically reinsured the mortality risk primarily on an excess of retention basis or on a quota share basis. The Company currently reinsures 100% of the mortality risk in excess of $100,000 per life for most new policies and reinsures up to 100% of the mortality risk for certain other policies. In addition to reinsuring mortality risk as described above, the Company reinsures other risks, as well as specific coverages. Placement of reinsurance is done primarily on an automatic basis and also on a facultative basis for risks with specified characteristics. The Company also reinsures portions of certain whole life, level premium term and universal life policies with secondary death benefit guarantees to certain affiliates. The Company evaluates its reinsurance programs routinely and may increase or decrease its retention at any time.

Corporate Benefit Funding

The Company’s Corporate Benefit Funding segment has periodically engaged in reinsurance activities, on an opportunistic basis. The impact of these activities on the financial results of this segment has not been significant and there were no significant transactions during the periods presented.

Corporate & Other

The Company reinsures, through 100% quota share reinsurance agreements, certain run-off long-term care and workers’ compensation business written by the Company.

The Company also assumes risk on certain client arrangements from both affiliated and unaffiliated companies. This reinsurance activity relates to risk-sharing agreements and multinational pooling.

Catastrophe Coverage

The Company has exposure to catastrophes which could contribute to significant fluctuations in the Company’s results of operations. The Company uses excess of retention and quota share reinsurance agreements to provide greater diversification of risk and minimize exposure to larger risks.

Reinsurance Recoverables

The Company reinsures its business through a diversified group of well-capitalized reinsurers. The Company analyzes recent trends in arbitration and litigation outcomes in disputes, if any, with its reinsurers. The Company monitors ratings and evaluates the financial strength of its reinsurers by analyzing their financial statements. In addition, the reinsurance recoverable balance due from each reinsurer is evaluated as part of the overall monitoring process. Recoverability of reinsurance recoverable balances is evaluated based on these analyses. The Company generally secures large reinsurance recoverable balances with various forms of collateral, including secured trusts, funds withheld accounts and irrevocable letters of credit. These reinsurance recoverable balances are stated net of allowances for uncollectible reinsurance, which at December 31, 2015 and 2014, were not significant.

The Company has secured certain reinsurance recoverable balances with various forms of collateral, including secured trusts, funds withheld accounts and irrevocable letters of credit. The Company had $2.4 billion and $2.3 billion of unsecured unaffiliated reinsurance recoverable balances at December 31, 2015 and 2014, respectively.

At December 31, 2015, the Company had $8.5 billion of net unaffiliated ceded reinsurance recoverables. Of this total, $7.4 billion, or 87%, were with the Company’s five largest unaffiliated ceded reinsurers, including $1.5 billion of net unaffiliated ceded reinsurance recoverables which were unsecured. At December 31, 2014, the Company had $8.1 billion of net unaffiliated ceded reinsurance recoverables. Of this total, $7.1 billion, or 87%, were with the Company’s five largest unaffiliated ceded reinsurers, including $1.3 billion of net unaffiliated ceded reinsurance recoverables which were unsecured.

The amounts on the consolidated statements of operations include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Premiums
Direct premiums	$	2,281		$	2,226		$	1,590
Reinsurance assumed	297			94			73
Reinsurance ceded	(1,145		)	(1,168		)	(974		)
Net premiums	$	1,433		$	1,152		$	689
Universal life and investment-type product policy fees
Direct universal life and investment-type product policy fees	$	3,607		$	3,610		$	3,492
Reinsurance assumed	142			398			398
Reinsurance ceded	(809		)	(815		)	(760		)
Net universal life and investment-type product policy fees	$	2,940		$	3,193		$	3,130
Other revenues
Direct other revenues	$	258		$	259		$	284
Reinsurance assumed	—			28			1
Reinsurance ceded	246			252			325
Net other revenues	$	504		$	539		$	610
Policyholder benefits and claims
Direct policyholder benefits and claims	$	4,807		$	4,797		$	4,693
Reinsurance assumed	305			263			149
Reinsurance ceded	(2,416		)	(2,296		)	(1,695		)
Net policyholder benefits and claims	$	2,696		$	2,764		$	3,147
Interest credited to policyholder account balances
Direct interest credited to policyholder account balances	$	1,104		$	1,125		$	1,202
Reinsurance assumed	78			76			91
Reinsurance ceded	(145		)	(139		)	(125		)
Net interest credited to policyholder account balances	$	1,037		$	1,062		$	1,168
Other expenses
Direct other expenses	$	2,142		$	2,524		$	1,861
Reinsurance assumed	55			106			19
Reinsurance ceded	120			124			57
Net other expenses	$	2,317		$	2,754		$	1,937

The amounts on the consolidated balance sheets include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows at:



	December 31,
	2015									2014
	Direct		Assumed		Ceded			Total Balance Sheet		Direct		Assumed		Ceded			Total Balance Sheet
	(In millions)
Assets
Premiums, reinsurance and other receivables	$	630	$	162	$	21,459		$	22,251	$	516	$	57	$	20,986		$	21,559
Deferred policy acquisition costs and value of business acquired	5,467		219		(877		)	4,809		5,367		246		(723		)	4,890
Total assets	$	6,097	$	381	$	20,582		$	27,060	$	5,883	$	303	$	20,263		$	26,449
Liabilities
Future policy benefits	$	28,670	$	1,294	$	(70	)	$	29,894	$	27,242	$	1,237	$	—		$	28,479
Policyholder account balances	34,764		897		—			35,661		34,659		827		—			35,486
Other policy-related balances	990		1,804		755			3,549		866		1,691		763			3,320
Other liabilities	2,566		86		5,030			7,682		2,469		63		5,412			7,944
Total liabilities	$	66,990	$	4,081	$	5,715		$	76,786	$	65,236	$	3,818	$	6,175		$	75,229

In November 2014, prior to the Mergers, guaranteed minimum benefit guarantees on certain variable annuities previously ceded to Exeter from an unaffiliated foreign company were recaptured. As a result of this recapture, the significant impacts to the Company were decreases in future policy benefits of $101 million, in other policy-related balances of $1.2 billion, in cash and cash equivalents of $705 million and in other invested assets of $553 million.

Reinsurance agreements that do not expose the Company to a reasonable possibility of a significant loss from insurance risk are recorded using the deposit method of accounting. The deposit assets on reinsurance were $6.0 billion and $6.2 billion at December 31, 2015 and 2014, respectively. The deposit liabilities on reinsurance was $1 million at both December 31, 2015 and 2014.

Related Party Reinsurance Transactions

The Company has reinsurance agreements with certain MetLife, Inc. subsidiaries, including MLIC, MetLife Reinsurance Company of South Carolina, First MetLife Investors Insurance Company (“First MetLife”), General American Life Insurance Company, MetLife Europe Limited, MetLife Reinsurance Company of Vermont, New England Life Insurance Company (“NELICO”), MetLife Reinsurance Company of Delaware (“MRD”), Delaware American Life Insurance Company and American Life Insurance Company, all of which are related parties.

Information regarding the significant effects of affiliated reinsurance included on the consolidated statements of operations was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Premiums
Reinsurance assumed	$	227		$	55		$	28
Reinsurance ceded	(783		)	(830		)	(638		)
Net premiums	$	(556	)	$	(775	)	$	(610	)
Universal life and investment-type product policy fees
Reinsurance assumed	$	142		$	291		$	259
Reinsurance ceded	(299		)	(361		)	(344		)
Net universal life and investment-type product policy fees	$	(157	)	$	(70	)	$	(85	)
Other revenues
Reinsurance assumed	$	—		$	28		$	1
Reinsurance ceded	246			252			325
Net other revenues	$	246		$	280		$	326
Policyholder benefits and claims
Reinsurance assumed	$	255		$	229		$	137
Reinsurance ceded	(925		)	(942		)	(673		)
Net policyholder benefits and claims	$	(670	)	$	(713	)	$	(536	)
Interest credited to policyholder account balances
Reinsurance assumed	$	78		$	76		$	91
Reinsurance ceded	(145		)	(139		)	(125		)
Net interest credited to policyholder account balances	$	(67	)	$	(63	)	$	(34	)
Other expenses
Reinsurance assumed	$	65		$	92		$	33
Reinsurance ceded	146			156			94
Net other expenses	$	211		$	248		$	127

Information regarding the significant effects of affiliated reinsurance included on the consolidated balance sheets was as follows at:



	December 31,
	2015					2014
	Assumed		Ceded			Assumed		Ceded
	(In millions)
Assets
Premiums, reinsurance and other receivables	$	129	$	12,746		$	45	$	12,718
Deferred policy acquisition costs and value of business acquired	120		(861		)	164		(707		)
Total assets	$	249	$	11,885		$	209	$	12,011
Liabilities
Future policy benefits	$	630	$	(70	)	$	593	$	—
Policyholder account balances	897		—			827		—
Other policy-related balances	1,785		755			1,689		763
Other liabilities	27		4,691			16		5,109
Total liabilities	$	3,339	$	5,376		$	3,125	$	5,872

The Company ceded two blocks of business to two affiliates on a 90% 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 increased the funds withheld balance by $244 million and $382 million at December 31, 2015 and 2014, respectively. Net derivative gains (losses) associated with these embedded derivatives were $137 million, ($348) million and $518 million for the years ended December 31, 2015, 2014 and 2013, respectively.

The Company assumes risks from affiliates related to guaranteed minimum benefit guarantees written directly by the affiliates. These assumed reinsurance agreements contain embedded derivatives and changes in their estimated fair value are also included within net derivative gains (losses). The embedded derivatives associated with the cessions are included within policyholder account balances and were liabilities of $897 million and $827 million at December 31, 2015 and 2014, respectively. Net derivative gains (losses) associated with the embedded derivatives were ($59) million, ($541) million and $2.1 billion for the years ended December 31, 2015, 2014 and 2013, respectively.

In December 2015, the Company entered into a reinsurance agreement to cede one block of business to MRD on a 90% coinsurance with funds withheld basis. This agreement covers certain term life policies issued in 2015 by the Company. This agreement transfers risk to MRD and, therefore, is accounted for as reinsurance. As a result of the agreement, affiliated reinsurance recoverables, included in premiums, reinsurance and other receivables, were $126 million at December 31, 2015. The Company also recorded a funds withheld liability and other reinsurance payables, included in other liabilities, which were $79 million at December 31, 2015. The Company’s consolidated statement of operations and comprehensive income (loss) includes no income for the year ended December 31, 2015.

In December 2014, the Company entered into a reinsurance agreement to cede two blocks of business to MRD on a 90% coinsurance with funds withheld basis. This agreement covers certain term and certain universal life policies issued in 2014 by the Company. This agreement transfers risk to MRD and, therefore, is accounted for as reinsurance. As a result of the agreement, affiliated reinsurance recoverables, included in premiums, reinsurance and other receivables, were $81 million and $54 million at December 31, 2015 and 2014, respectively. The Company also recorded a funds withheld liability and other reinsurance payables, included in other liabilities, which were $23 million and $118 million at December 31, 2015 and 2014, respectively. The Company’s consolidated statement of operations and comprehensive income (loss) includes a loss for this agreement of $17 million, and less than $1 million for the years ended December 31, 2015 and 2014, respectively.

Prior to the Mergers, certain related party transactions were consummated as summarized below. See Note 3 for additional information on the Mergers.

•

In January 2014, the Company reinsured with MLIC all existing New York insurance policies and annuity contracts that include a separate account feature. As a result of the reinsurance agreements, the significant effects to the Company were increases in premiums, reinsurance and other receivables of $700 million and in other liabilities of $206 million, as well as decreases in cash and cash equivalents and total investments of $494 million. Certain contractual features of this agreement qualify as embedded derivatives, which are separately accounted for at estimated fair value on the Company's consolidated balance sheets. The embedded derivative related to this agreement is included within policyholder account balances and was $4 million at both December 31, 2015 and 2014. Net derivative gains (losses) associated with the embedded derivative were less than $1 million and $4 million for the years ended December 31, 2015 and 2014, respectively.

•

In October 2014, MLIC recaptured a block of universal life secondary guarantee business ceded to Exeter on a 75% coinsurance with funds withheld basis. As a result of this recapture, the significant effects to the Company were decreases in premiums, reinsurance and other receivables of $14 million, in DAC of $30 million, in other invested assets of $418 million, in future policy benefits of $67 million and in other policy-related balances of $435 million.

•

In November 2014, MLIC, First MetLife and NELICO partially recaptured risks related to guaranteed minimum benefit guarantees on certain variable annuities previously ceded to Exeter. As a result of this recapture, the significant effects to the Company were decreases in future policy benefits of $284 million, in other policy-related balances of $469 million, in other liabilities of $23 million, in other invested assets of $441 million and in cash and cash equivalents of $385 million. There was also a decrease in net income of $57 million.

•

Also in November 2014, certain foreign blocks of indemnity reinsurance and guaranteed minimum benefit guarantees on certain variable annuities previously ceded to Exeter from MetLife Europe were recaptured. As a result of this recapture, the significant effects to the Company were decreases in future policy benefits of $463 million, in other liabilities of $29 million and in other invested assets of $505 million, as well as increases in cash and cash equivalents of $122 million and in other policy-related balances of $109 million.

The Company has secured certain reinsurance recoverable balances with various forms of collateral, including secured trusts, funds withheld accounts and irrevocable letters of credit. The Company had $6.3 billion and $6.2 billion of unsecured affiliated reinsurance recoverable balances at December 31, 2015 and 2014, respectively.

Affiliated reinsurance agreements that do not expose the Company to a reasonable possibility of a significant loss from insurance risk are recorded using the deposit method of accounting. The deposit assets on affiliated reinsurance were $5.8 billion and $6.0 billion at December 31, 2015 and 2014, respectively. There were no deposit liabilities on affiliated reinsurance at both December 31, 2015 and 2014.

- Definition

The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts.

+ References + Details

Investments

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Investments

8. Investments

See Note 10 for information about the fair value hierarchy for investments and the related valuation methodologies.

Investment Risks and Uncertainties

Investments are exposed to the following primary sources of risk: credit, interest rate, liquidity, market valuation, currency and real estate risk. The financial statement risks, stemming from such investment risks, are those associated with the determination of estimated fair values, the diminished ability to sell certain investments in times of strained market conditions, the recognition of impairments, the recognition of income on certain investments and the potential consolidation of VIEs. The use of different methodologies, assumptions and inputs relating to these financial statement risks may have a material effect on the amounts presented within the consolidated financial statements.

The determination of valuation allowances and impairments is highly subjective and is based upon periodic evaluations and assessments of known and inherent risks associated with the respective asset class. Such evaluations and assessments are revised as conditions change and new information becomes available.

The recognition of income on certain investments (e.g. structured securities, including mortgage-backed securities, asset-backed securities (“ABS”) and certain structured investment transactions) is dependent upon certain factors such as prepayments and defaults, and changes in such factors could result in changes in amounts to be earned.

Fixed Maturity and Equity Securities AFS

Fixed Maturity and Equity Securities AFS by Sector

The following table presents the fixed maturity and equity securities AFS by sector. Redeemable preferred stock is reported within U.S. corporate and foreign corporate fixed maturity securities and non-redeemable preferred stock is reported within equity securities. Included within fixed maturity securities are structured securities including RMBS, ABS and commercial mortgage-backed securities (“CMBS”).



	December 31, 2015											December 31, 2014
	Cost or Amortized Cost		Gross Unrealized							Estimated Fair Value		Cost or Amortized Cost		Gross Unrealized							Estimated Fair Value
	Cost or Amortized Cost		Gains		Temporary Losses		OTTI Losses			Estimated Fair Value		Cost or Amortized Cost		Gains		Temporary Losses		OTTI Losses			Estimated Fair Value
										(In millions)
Fixed Maturity Securities:
U.S. corporate	$	16,160	$	979	$	393	$	—		$	16,746	$	15,286	$	1,635	$	119	$	—		$	16,802
U.S. Treasury and agency	12,562		1,297		53		—			13,806		14,147		1,686		7		—			15,826
RMBS	8,391		201		95		19			8,478		5,858		291		33		35			6,081
Foreign corporate	4,995		153		194		—			4,954		5,162		310		58		—			5,414
State and political subdivision	2,398		321		13		1			2,705		2,180		413		1		—			2,592
ABS	2,694		14		34		—			2,674		1,546		26		10		—			1,562
CMBS (1)	2,303		20		23		(1		)	2,301		1,637		45		4		(1		)	1,679
Foreign government	651		104		10		—			745		607		136		2		—			741
Total fixed maturity securities	$	50,154	$	3,089	$	815	$	19		$	52,409	$	46,423	$	4,542	$	234	$	34		$	50,697
Equity securities
Non-redeemable preferred stock	$	217	$	16	$	9	$	—		$	224	$	224	$	9	$	7	$	—		$	226
Common stock	167		23		5		—			185		176		60		3		—			233
Total equity securities	$	384	$	39	$	14	$	—		$	409	$	400	$	69	$	10	$	—		$	459

______________


(1)	The noncredit loss component of OTTI losses for CMBS was in an unrealized gain position of $1 million at both December 31, 2015 and 2014, due to increases in estimated fair value subsequent to initial recognition of noncredit losses on such securities. See also “— Net Unrealized Investment Gains (Losses).”

The Company held non-income producing fixed maturity securities with an estimated fair value of $11 million and $14 million with unrealized gains (losses) of $1 million and $4 million at December 31, 2015 and 2014, respectively.

Methodology for Amortization of Premium and Accretion of Discount on Structured Securities

Amortization of premium and accretion of discount on structured securities considers the estimated timing and amount of prepayments of the underlying loans. Actual prepayment experience is periodically reviewed and effective yields are recalculated when differences arise between the originally anticipated and the actual prepayments received and currently anticipated. Prepayment assumptions for single class and multi-class mortgage-backed and ABS are estimated using inputs obtained from third-party specialists and based on management’s knowledge of the current market. For credit-sensitive mortgage-backed and ABS and certain prepayment-sensitive securities, the effective yield is recalculated on a prospective basis. For all other mortgage-backed and ABS, the effective yield is recalculated on a retrospective basis.

Maturities of Fixed Maturity Securities

The amortized cost and estimated fair value of fixed maturity securities, by contractual maturity date, were as follows at December 31, 2015:



	Due in One Year or Less		Due After One Year Through Five Years		Due After Five Years Through Ten Years		Due After Ten Years		Structured Securities		Total Fixed Maturity Securities
	(In millions)
Amortized cost	$	2,667	$	9,375	$	7,815	$	16,909	$	13,388	$	50,154
Estimated fair value	$	2,677	$	9,667	$	7,840	$	18,772	$	13,453	$	52,409

Actual maturities may differ from contractual maturities due to the exercise of call or prepayment options. Fixed maturity securities not due at a single maturity date have been presented in the year of final contractual maturity. Structured securities (RMBS, ABS and CMBS) are shown separately, as they are not due at a single maturity.

Continuous Gross Unrealized Losses for Fixed Maturity and Equity Securities AFS by Sector

The following table presents the estimated fair value and gross unrealized losses of fixed maturity and equity securities AFS in an unrealized loss position, aggregated by sector and by length of time that the securities have been in a continuous unrealized loss position.



	December 31, 2015								December 31, 2014
	Less than 12 Months				Equal to or Greater than 12 Months				Less than 12 Months				Equal to or Greater than 12 Months
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(In millions, except number of securities)
Fixed maturity securities
U.S. corporate	$	4,569	$	278	$	571	$	115	$	1,346	$	45	$	685	$	74
U.S. Treasury and agency	4,037		53		—		—		4,067		5		163		2
RMBS	4,305		73		495		41		684		26		530		42
Foreign corporate	1,650		96		605		98		1,031		49		133		9
State and political subdivision	373		12		19		2		11		—		24		1
ABS	1,818		28		194		6		334		2		231		8
CMBS	1,346		21		44		1		124		1		78		2
Foreign government	130		9		6		1		27		1		9		1
Total fixed maturity securities	$	18,228	$	570	$	1,934	$	264	$	7,624	$	129	$	1,853	$	139
Equity securities
Non-redeemable preferred stock	$	25	$	1	$	40	$	8	$	28	$	1	$	44	$	6
Common stock	6		5		1		—		11		3		—		—
Total equity securities	$	31	$	6	$	41	$	8	$	39	$	4	$	44	$	6
Total number of securities in an unrealized loss position	1,850				394				752				333

Evaluation of AFS Securities for OTTI and Evaluating Temporarily Impaired AFS Securities

Evaluation and Measurement Methodologies

Management considers a wide range of factors about the security issuer and uses its best judgment in evaluating the cause of the decline in the estimated fair value of the security and in assessing the prospects for near-term recovery. Inherent in management’s evaluation of the security are assumptions and estimates about the operations of the issuer and its future earnings potential. Considerations used in the impairment evaluation process include, but are not limited to: (i) the length of time and the extent to which the estimated fair value has been below cost or amortized cost; (ii) the potential for impairments when the issuer is experiencing significant financial difficulties; (iii) the potential for impairments in an entire industry sector or sub-sector; (iv) the potential for impairments in certain economically depressed geographic locations; (v) the potential for impairments where the issuer, series of issuers or industry has suffered a catastrophic loss or has exhausted natural resources; (vi) with respect to fixed maturity securities, whether the Company has the intent to sell or will more likely than not be required to sell a particular security before the decline in estimated fair value below amortized cost recovers; (vii) with respect to structured securities, changes in forecasted cash flows after considering the quality of underlying collateral, expected prepayment speeds, current and forecasted loss severity, consideration of the payment terms of the underlying assets backing a particular security, and the payment priority within the tranche structure of the security; (viii) the potential for impairments due to weakening of foreign currencies on non-functional currency denominated fixed maturity securities that are near maturity; and (ix) other subjective factors, including concentrations and information obtained from regulators and rating agencies.

The methodology and significant inputs used to determine the amount of credit loss on fixed maturity securities 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 prior to impairment.

•

When determining collectability and the period over which value is expected to recover, the Company applies considerations utilized in its overall impairment 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 best estimates of likely scenario-based 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; 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 securities including, but not limited to: the quality of underlying collateral, expected prepayment speeds, current and forecasted loss severity, consideration of the payment terms of the underlying loans or assets backing a particular security, and the payment priority within the tranche structure of the security.

•

When determining the amount of the credit loss for U.S. and foreign corporate securities, foreign government securities and state and political subdivision securities, the estimated fair value is considered the recovery value when available information does not indicate that another value is more appropriate. When information is identified that indicates a recovery value other than estimated fair value, management considers in the determination of recovery value the same considerations utilized in its overall impairment evaluation process as described above, as well as any private and public sector programs to restructure such securities.

With respect to securities that have attributes of debt and equity (perpetual hybrid securities), consideration is given in the OTTI 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 and extended 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. When an OTTI loss has occurred, the OTTI loss is the entire difference between the perpetual hybrid security’s cost and its estimated fair value with a corresponding charge to earnings.

The cost or amortized cost of fixed maturity and equity securities is adjusted for OTTI in the period in which the determination is made. The Company does not change the revised cost basis for subsequent recoveries in value.

In periods subsequent to the recognition of OTTI on a fixed maturity security, the Company accounts for the impaired security as if it had been purchased on the measurement date of the impairment. Accordingly, the discount (or reduced premium) based on the new cost basis is accreted over the remaining term of the fixed maturity security in a prospective manner based on the amount and timing of estimated future cash flows.

Current Period Evaluation

Based on the Company’s current evaluation of its AFS securities in an unrealized loss position in accordance with its impairment policy, and the Company’s current intentions and assessments (as applicable to the type of security) about holding, selling and any requirements to sell these securities, the Company concluded that these securities were not other-than-temporarily impaired at December 31, 2015. Future OTTI 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, collateral valuation, interest rates and credit spreads. If economic fundamentals deteriorate or if there are adverse changes in the above factors, OTTI may be incurred in upcoming periods.

Gross unrealized losses on fixed maturity securities increased $566 million during the year ended December 31, 2015 to $834 million. The increase in gross unrealized losses for the year ended December 31, 2015 was primarily attributable to widening credit spreads, an increase in interest rates and, to a lesser extent, the impact of weakening foreign currencies on non-functional currency denominated fixed maturity securities.

At December 31, 2015, $68 million of the total $834 million of gross unrealized losses were from 21 fixed maturity securities with an unrealized loss position of 20% or more of amortized cost for six months or greater.

Investment Grade Fixed Maturity Securities

Of the $68 million of gross unrealized losses on fixed maturity securities with an unrealized loss of 20% or more of amortized cost for six months or greater, $48 million, or 71%, were related to gross unrealized losses on 11 investment grade fixed maturity securities. Unrealized losses on investment grade fixed maturity securities are principally related to widening credit spreads, and with respect to fixed-rate fixed maturity securities, rising interest rates since purchase.

Below Investment Grade Fixed Maturity Securities

Of the $68 million of gross unrealized losses on fixed maturity securities with an unrealized loss of 20% or more of amortized cost for six months or greater, $20 million, or 29%, were related to gross unrealized losses on 10 below investment grade fixed maturity securities. Unrealized losses on below investment grade fixed maturity securities are principally related to U.S. and foreign corporate securities (primarily industrial and utility securities) and non-agency RMBS (primarily alternative residential mortgage loans) and are the result of significantly wider credit spreads resulting from higher risk premiums since purchase, largely due to economic and market uncertainties including concerns over lower oil prices in the energy sector and valuations of residential real estate supporting non-agency RMBS. Management evaluates U.S. and foreign corporate securities based on factors such as expected cash flows and the financial condition and near-term and long-term prospects of the issuers and evaluates non-agency RMBS based on actual and projected cash flows after considering the quality of underlying collateral, expected prepayment speeds, current and forecasted loss severity, consideration of the payment terms of the underlying assets backing a particular security and the payment priority within the tranche structure of the security.

Equity Securities

Gross unrealized losses on equity securities increased $4 million during the year ended December 31, 2015 to $14 million. Of the $14 million, $5 million were from two securities with gross unrealized losses of 20% or more of cost for 12 months or greater. Of the $5 million, 40% were rated A or better, and all were from financial services industry investment grade non-redeemable preferred stock.

Mortgage Loans

Mortgage Loans by Portfolio Segment

Mortgage loans are summarized as follows at:



	December 31,
	2015					2014
	Carrying Value			% of Total		Carrying Value			% of Total
	(In millions)					(In millions)
Mortgage loans
Commercial	$	5,331		73.4	%	$	4,281		73.3	%
Agricultural	1,460			20.1		1,303			22.3
Residential	335			4.6		—			—
Subtotal	7,126			98.1		5,584			95.6
Valuation allowances	(36		)	(0.5	)	(25		)	(0.4	)
Subtotal mortgage loans, net	7,090			97.6		5,559			95.2
Commercial mortgage loans held by CSEs — FVO	172			2.4		280			4.8
Total mortgage loans, net	$	7,262		100.0	%	$	5,839		100.0	%

The Company purchases unaffiliated mortgage loans under a master participation agreement, from an affiliate, simultaneously with the affiliate’s origination or acquisition of mortgage loans. The aggregate amount of unaffiliated mortgage loan participation interests purchased by the Company from an affiliate during the years ended December 31, 2015, 2014 and 2013 were $2.0 billion, $360 million and $787 million, respectively. In connection with the mortgage loan participations, the affiliate collected mortgage loan principal and interest payments on the Company’s behalf and the affiliate remitted such payments to the Company in the amount of $973 million, $1.0 billion and $1.5 billion during the years ended December 31, 2015, 2014 and 2013, respectively.

Purchases of mortgage loans from third parties were $346 million and $0 for the years ended December 31, 2015 and 2014, respectively.

See “— Variable Interest Entities” for discussion of “CSEs.”

See “— Related Party Investment Transactions” for discussion of related party mortgage loans.

Information on commercial, agricultural and residential mortgage loans is presented in the tables below. Information on commercial mortgage loans held by CSEs - FVO is presented in Note 10. The Company elects the FVO for certain commercial mortgage loans and related long-term debt that are managed on a total return basis.

Mortgage Loans, Valuation Allowance and Impaired Loans by Portfolio Segment

Mortgage loans by portfolio segment, by method of evaluation of credit loss, impaired mortgage loans including those modified in a troubled debt restructuring, and the related valuation allowances, were as follows at and for the years ended:



	Evaluated Individually for Credit Losses										Evaluated Collectively for Credit Losses				Impaired Loans
	Impaired Loans with a Valuation Allowance						Impaired Loans without a Valuation Allowance
	Unpaid Principal Balance		Recorded Investment		Valuation Allowances		Unpaid Principal Balance		Recorded Investment		Recorded Investment		Valuation Allowances		Carrying Value		Average Recorded Investment
	(In millions)
December 31, 2015
Commercial	$	—	$	—	$	—	$	—	$	—	$	5,331	$	28	$	—	$	—
Agricultural	4		3		—		—		—		1,457		5		3		3
Residential	—		—		—		—		—		335		3		—		—
Total	$	4	$	3	$	—	$	—	$	—	$	7,123	$	36	$	3	$	3
December 31, 2014
Commercial	$	—	$	—	$	—	$	—	$	—	$	4,281	$	21	$	—	$	43
Agricultural	4		3		—		—		—		1,300		4		3		3
Residential	—		—		—		—		—		—		—		—		—
Total	$	4	$	3	$	—	$	—	$	—	$	5,581	$	25	$	3	$	46

The average recorded investment for impaired commercial, agricultural and residential mortgage loans was $73 million, $2 million and $0, respectively, for the year ended December 31, 2013.

Valuation Allowance Rollforward by Portfolio Segment

The changes in the valuation allowance, by portfolio segment, were as follows:



	Commercial			Agricultural		Residential		Total
	(In millions)
Balance at January 1, 2013	$	34		$	3	$	—	$	37
Provision (release)	(3		)	1		—		(2		)
Balance at December 31, 2013	31			4		—		35
Provision (release)	(10		)	—		—		(10		)
Balance at December 31, 2014	21			4		—		25
Provision (release)	7			1		3		11
Balance at December 31, 2015	$	28		$	5	$	3	$	36

Valuation Allowance Methodology

Mortgage loans are considered to be impaired when it is probable that, based upon current information and events, the Company will be unable to collect all amounts due under the loan agreement. Specific valuation allowances are established using the same methodology for all three portfolio segments as the excess carrying value of a loan over either (i) the present value of expected future cash flows discounted at the loan’s original effective interest rate, (ii) the estimated fair value of the loan’s underlying collateral if the loan is in the process of foreclosure or otherwise collateral dependent, or (iii) the loan’s observable market price. A common evaluation framework is used for establishing non-specific valuation allowances for all loan portfolio segments; however, a separate non-specific valuation allowance is calculated and maintained for each loan portfolio segment that is based on inputs unique to each loan portfolio segment. Non-specific valuation allowances are established for pools of loans with similar risk characteristics where a property-specific or market-specific risk has not been identified, but for which the Company expects to incur a credit loss. These evaluations are based upon several loan portfolio segment-specific factors, including the Company’s experience for loan losses, defaults and loss severity, and loss expectations for loans with similar risk characteristics. These evaluations are revised as conditions change and new information becomes available.

Commercial and Agricultural Mortgage Loan Portfolio Segments

The Company typically uses several years of historical experience in establishing non-specific valuation allowances which captures multiple economic cycles. 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, and recent loss and recovery trend experience as compared to historical loss and recovery 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. On a quarterly basis, management incorporates the impact of these current market events and conditions on historical experience in determining the non-specific valuation allowance established for commercial and agricultural mortgage loans.

All commercial mortgage loans are reviewed on an ongoing basis which may include an analysis of the property financial statements and rent roll, lease rollover analysis, property inspections, market analysis, estimated valuations of the underlying collateral, loan-to-value ratios, debt service coverage ratios, 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 loan-to-value ratios and lower debt service coverage ratios. All agricultural mortgage loans are monitored on an ongoing basis. The monitoring process for agricultural mortgage loans is generally similar to the commercial mortgage loan monitoring process, with a focus on higher risk loans, including reviews on a geographic and property-type basis. Higher risk loans are reviewed individually on an ongoing basis for potential credit loss and specific valuation allowances are established using the methodology described above. Quarterly, the remaining loans are reviewed on a pool basis by aggregating groups of loans that have similar risk characteristics for potential credit loss, and non-specific valuation allowances are established as described above using inputs that are unique to each segment of the loan portfolio.

For commercial mortgage loans, the primary credit quality indicator is the debt service coverage ratio, 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 debt service coverage ratio, the higher the risk of experiencing a credit loss. The Company also reviews the loan-to-value ratio of its commercial mortgage loan portfolio. Loan-to-value ratios compare the unpaid principal balance of the loan to the estimated fair value of the underlying collateral. Generally, the higher the loan-to-value ratio, the higher the risk of experiencing a credit loss. The debt service coverage ratio and the values utilized in calculating the ratio are updated annually on a rolling basis, with a portion of the portfolio updated each quarter. In addition, the loan-to-value 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 loan-to-value 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.

Residential Mortgage Loan Portfolio Segment

The Company’s residential mortgage loan portfolio is comprised primarily of closed end, amortizing residential mortgage loans. For evaluations of residential mortgage loans, the key inputs of expected frequency and expected loss reflect current market conditions, with expected frequency adjusted, when appropriate, for differences from market conditions and the Company’s historical experience of affiliates of the Company. In contrast to the commercial and agricultural mortgage loan portfolios, residential mortgage loans are smaller-balance homogeneous loans that are collectively evaluated for impairment. Non-specific valuation allowances are established using the evaluation framework described above for pools of loans with similar risk characteristics from inputs that are unique to the residential segment of the loan portfolio. Loan specific valuation allowances are only established on residential mortgage loans when they have been restructured and are established using the methodology described above for all loan portfolio segments.

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 non-accrual status which is assessed monthly. Generally, nonperforming residential mortgage loans have a higher risk of experiencing a credit loss.

Credit Quality of Commercial Mortgage Loans

The credit quality of commercial mortgage loans was as follows at:



	Recorded Investment										Estimated Fair Value		% of Total
	Debt Service Coverage Ratios						Total		% of Total
	> 1.20x		1.00x - 1.20x		< 1.00x		Total		% of Total
	(In millions)										(In millions)
December 31, 2015
Loan-to-value ratios
Less than 65%	$	4,659	$	151	$	100	$	4,910	92.1	%	$	5,124	92.6	%
65% to 75%	330		—		8		338		6.3		330		6.0
76% to 80%	—		—		—		—		—		—		—
Greater than 80%	44		25		14		83		1.6		80		1.4
Total	$	5,033	$	176	$	122	$	5,331	100.0	%	$	5,534	100.0	%
December 31, 2014
Loan-to-value ratios
Less than 65%	$	3,668	$	267	$	125	$	4,060	94.8	%	$	4,431	95.1	%
65% to 75%	113		14		—		127		3.0		134		2.9
76% to 80%	9		—		—		9		0.2		10		0.2
Greater than 80%	45		26		14		85		2.0		83		1.8
Total	$	3,835	$	307	$	139	$	4,281	100.0	%	$	4,658	100.0	%

Credit Quality of Agricultural Mortgage Loans

The credit quality of agricultural mortgage loans was as follows at:



	December 31,
	2015				2014
	Recorded Investment		% of Total		Recorded Investment		% of Total
	(In millions)				(In millions)
Loan-to-value ratios
Less than 65%	$	1,366	93.6	%	$	1,239	95.1	%
65% to 75%	94		6.4		64		4.9
Total	$	1,460	100.0	%	$	1,303	100.0	%

The estimated fair value of agricultural mortgage loans was $1.5 billion and $1.4 billion at December 31, 2015 and 2014, respectively.

Credit Quality of Residential Mortgage Loans

As of December 31, 2015, the Company had residential mortgage loans with a recorded investment of $335 million, $331 million of which was classified as performing. The estimated fair value of all residential mortgage loans was $345 million at December 31, 2015. The Company did not hold any residential mortgage loans at December 31, 2014.

Past Due and Interest Accrual Status of Mortgage Loans

The Company has a high quality, well performing, mortgage loan portfolio, with 99% of all mortgage loans classified as performing at both December 31, 2015 and 2014. The Company defines delinquency consistent with industry practice, when mortgage loans are past due as follows: commercial and residential mortgage loans — 60 days and agricultural mortgage loans — 90 days. The Company had no commercial or agricultural mortgage loans past due and no commercial or agricultural mortgage loans in non-accrual status at either December 31, 2015, or 2014. The recorded investment of residential mortgage loans past due and in non-accrual status was $4 million at December 31, 2015.

Mortgage Loans Modified in a Troubled Debt Restructuring

The Company may grant concessions related to borrowers experiencing financial difficulties, which are classified as troubled debt restructurings. Generally, the types of concessions include: reduction of the contractual interest rate, extension of the maturity date at an interest rate lower than current market interest rates, and/or a reduction of accrued interest. The amount, timing and extent of the concession granted is considered in determining any impairment or changes in the specific valuation allowance. During the years ended December 31, 2015 and 2014, there were no mortgage loans modified in a troubled debt restructuring.

Other Invested Assets

Other invested assets is comprised primarily of freestanding derivatives with positive estimated fair values (see Note 9), funds withheld, operating joint venture, tax credit and renewable energy partnerships and leveraged leases.

Tax Credit Partnerships

The carrying value of tax credit partnerships was $42 million and $39 million at December 31, 2015 and 2014, respectively. Net investment income (loss) from tax credit partnerships were ($1) million, $3 million, and ($1) million for the years ended December 31, 2015, 2014 and 2013, respectively.

Leveraged Leases

Investment in leveraged leases consisted of the following at:



	December 31,
	2015			2014
	(In millions)
Rental receivables, net	$	90		$	92
Estimated residual values	14			14
Subtotal	104			106
Unearned income	(33		)	(34		)
Investment in leveraged leases, net of non-recourse debt	$	71		$	72

Rental receivables are generally due in periodic installments. The payment periods for leveraged leases range from one to 17 years. For rental receivables, the primary credit quality indicator is whether the rental receivable is performing or nonperforming, which is assessed monthly. The Company generally defines nonperforming rental receivables as those that are 90 days or more past due. At December 31, 2015 and 2014, all rental receivables were performing.

The deferred income tax liability related to leveraged leases was $76 million and $71 million at December 31, 2015 and 2014, respectively.

Cash Equivalents

The carrying value of cash equivalents, which includes securities and other investments with an original or remaining maturity of three months or less at the time of purchase, was $1.1 billion and $681 million at December 31, 2015 and 2014, respectively.

Net Unrealized Investment Gains (Losses)

Unrealized investment gains (losses) on fixed maturity and equity securities AFS and the effect on DAC, VOBA, DSI and future policy benefits, that would result from the realization of the unrealized gains (losses), are included in net unrealized investment gains (losses) in AOCI.

The components of net unrealized investment gains (losses), included in AOCI, were as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Fixed maturity securities	$	2,265		$	4,311		$	1,884
Fixed maturity securities with noncredit OTTI losses in AOCI	(19		)	(34		)	(45		)
Total fixed maturity securities	2,246			4,277			1,839
Equity securities	54			69			13
Derivatives	368			282			38
Other	78			9			(71		)
Subtotal	2,746			4,637			1,819
Amounts allocated from:
Future policy benefits	(56		)	(503		)	—
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	(1		)	(2		)	—
DAC, VOBA and DSI	(198		)	(403		)	(287		)
Subtotal	(255		)	(908		)	(287		)
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	7			12			15
Deferred income tax benefit (expense)	(844		)	(1,308		)	(606		)
Net unrealized investment gains (losses)	$	1,654		$	2,433		$	941

The changes in fixed maturity securities with noncredit OTTI losses included in AOCI were as follows:



	Years Ended December 31,
	2015			2014
	(In millions)
Balance at January 1,	$	(34	)	$	(45	)
Noncredit OTTI losses and subsequent changes recognized	9			6
Securities sold with previous noncredit OTTI loss	17			9
Subsequent changes in estimated fair value	(11		)	(4		)
Balance at December 31,	$	(19	)	$	(34	)

The changes in net unrealized investment gains (losses) were as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Balance at January 1,	$	2,433		$	941		$	2,569
Fixed maturity securities on which noncredit OTTI losses have been recognized	15			11			25
Unrealized investment gains (losses) during the year	(1,906		)	2,807			(3,601		)
Unrealized investment gains (losses) relating to:
Future policy benefits	447			(503		)	740
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	1			(2		)	(5		)
DAC, VOBA and DSI	205			(116		)	403
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	(5		)	(3		)	(7		)
Deferred income tax benefit (expense)	464			(702		)	817
Balance at December 31,	$	1,654		$	2,433		$	941
Change in net unrealized investment gains (losses)	$	(779	)	$	1,492		$	(1,628	)

Concentrations of Credit Risk

There were no investments in any counterparty that were greater than 10% of the Company’s stockholder’s equity, other than the U.S. government and its agencies, at both December 31, 2015 and 2014.

Securities Lending

Elements of the securities lending program are presented below at:



	December 31,
	2015		2014
	(In millions)
Securities on loan: (1)
Amortized cost	$	8,047	$	5,748
Estimated fair value	$	8,830	$	6,703
Cash collateral on deposit from counterparties (2)	$	8,981	$	6,781
Security collateral on deposit from counterparties (3)	$	23	$	60
Reinvestment portfolio — estimated fair value	$	8,938	$	6,846

______________


(1)	Included within fixed maturity securities and short-term investments.


(2)	Included within payables for collateral under securities loaned and other transactions.


(3)	Security collateral on deposit from counterparties may not be sold or re-pledged, unless the counterparty is in default, and is not reflected on the consolidated financial statements.

The cash collateral liability by loaned security type and remaining tenor of the agreements were as follows at:



	December 31, 2015
	Remaining Tenor of Securities Lending Agreements
	Open (1)		1 Month or Less		1 to 6 Months		Total		% of Total
	(In millions)
Cash collateral liability by loaned security type
U.S. Treasury and agency	$	2,631	$	3,140	$	1,338	$	7,109	79.1	%
Agency RMBS	—		939		579		1,518		16.9
U.S. corporate	9		302		—		311		3.5
Foreign government	1		42		—		43		0.5
Foreign corporate	—		—		—		—		—
Total	$	2,641	$	4,423	$	1,917	$	8,981	100.0	%



	December 31, 2014
	Remaining Tenor of Securities Lending Agreements
	Open (1)		1 Month or Less		1 to 6 Months		Total		% of Total
	(In millions)
Cash collateral liability by loaned security type
U.S. Treasury and agency	$	2,618	$	2,611	$	822	$	6,051	89.2	%
Agency RMBS	—		95		542		637		9.4
U.S. corporate	7		35		—		42		0.6
Foreign government	7		—		—		7		0.1
Foreign corporate	22		22		—		44		0.7
Total	$	2,654	$	2,763	$	1,364	$	6,781	100.0	%

______________


(1)	The related loaned security could be returned to the Company on the next business day which would require the Company to immediately return the cash collateral.

If the Company is required to return significant amounts of cash collateral on short notice and is forced to sell securities to meet the return obligation, it may have difficulty selling such collateral that is invested in securities in a timely manner, be forced to sell securities in a volatile or illiquid market for less than what otherwise would have been realized under normal market conditions, or both. The estimated fair value of the securities on loan related to the cash collateral on open at December 31, 2015 was $2.6 billion, over 99% of which were U.S. Treasury and agency securities which, if put back to the Company, could be immediately sold to satisfy the cash requirement.

The reinvestment portfolio acquired with the cash collateral consisted principally of fixed maturity securities (including agency RMBS, U.S. Treasury and agency, ABS, non-agency RMBS and U.S. corporate securities) with 51% invested in agency RMBS, U.S. Treasury and agency, cash equivalents, short-term investments or held in cash. If the securities on loan or the reinvestment portfolio become less liquid, the Company has the liquidity resources of most of its general account available to meet any potential cash demands when securities on loan are put back to the Company.

Invested Assets on Deposit, Held in Trust and Pledged as Collateral

Invested assets on deposit, held in trust and pledged as collateral are presented below at estimated fair value for all asset classes, except mortgage loans, which are presented at carrying value at:



	December 31,
	2015		2014
	(In millions)
Invested assets on deposit (regulatory deposits) (1)	$	7,245	$	7,334
Invested assets held in trust (reinsurance agreements) (2)	952		936
Invested assets pledged as collateral (3)	2,801		3,174
Total invested assets on deposit, held in trust, and pledged as collateral	$	10,998	$	11,444

______________


(1)	See Note 3 for information about invested assets that became restricted in 2014 in connection with MetLife Insurance Company of Connecticut’s withdrawal of its New York license.


(2)	The Company has held in trust certain investments, primarily fixed maturity securities, in connection with certain reinsurance transactions.


(3)	The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Note 5) and derivative transactions (see Note 9).

See “— Securities Lending” for information regarding securities on loan.

Purchased Credit Impaired Investments

Investments acquired with evidence of credit quality deterioration since origination and for which it is probable at the acquisition date that the Company will be unable to collect all contractually required payments are classified as purchased credit impaired (“PCI”) investments. For each investment, the excess of the cash flows expected to be collected as of the acquisition date over its acquisition date fair value is referred to as the accretable yield and is recognized as net investment income on an effective yield basis. If subsequently, based on current information and events, it is probable that there is a significant increase in cash flows previously expected to be collected or if actual cash flows are significantly greater than cash flows previously expected to be collected, the accretable yield is adjusted prospectively. The excess of the contractually required payments (including interest) as of the acquisition date over the cash flows expected to be collected as of the acquisition date is referred to as the nonaccretable difference, and this amount is not expected to be realized as net investment income. Decreases in cash flows expected to be collected can result in OTTI.

The Company’s PCI fixed maturity securities were as follows at:



	December 31,
	2015		2014
	(In millions)
Outstanding principal and interest balance (1)	$	1,224	$	653
Carrying value (2)	$	911	$	504

______________


(1)	Represents the contractually required payments, which is the sum of contractual principal, whether or not currently due, and accrued interest.


(2)	Estimated fair value plus accrued interest.

The following table presents information about PCI fixed maturity securities acquired during the periods indicated:



	Years Ended December 31,
	2015		2014
	(In millions)
Contractually required payments (including interest)	$	785	$	102
Cash flows expected to be collected (1)	$	698	$	78
Fair value of investments acquired	$	512	$	54

______________


(1)	Represents undiscounted principal and interest cash flow expectations, at the date of acquisition.

The following table presents activity for the accretable yield on PCI fixed maturity securities for:



	Years Ended December 31,
	2015			2014
	(In millions)
Accretable yield, January 1,	$	251		$	315
Investments purchased	186			24
Accretion recognized in earnings	(48		)	(25		)
Disposals	(8		)	(13		)
Reclassification (to) from nonaccretable difference	19			(50		)
Accretable yield, December 31,	$	400		$	251

Collectively Significant Equity Method Investments

The Company holds investments in real estate joint ventures, real estate funds and other limited partnership interests consisting of leveraged buy-out funds, hedge funds, private equity funds, joint ventures and other funds. The portion of these investments accounted for under the equity method had a carrying value of $2.6 billion at December 31, 2015. The Company’s maximum exposure to loss related to these equity method investments is limited to the carrying value of these investments plus unfunded commitments of $791 million at December 31, 2015. Except for certain real estate joint ventures, the Company’s investments in real estate funds and other limited partnership interests are generally of a passive nature in that the Company does not participate in the management of the entities.

As described in Note 1, the Company generally records its share of earnings in its equity method investments using a three-month lag methodology and within net investment income. Aggregate net investment income from these equity method investments exceeded 10% of the Company’s consolidated pre-tax income (loss) for the three most recent annual periods: 2015, 2014 and 2013. This aggregated summarized financial data does not represent the Company’s proportionate share of the assets, liabilities, or earnings of such entities.

The aggregated summarized financial data presented below reflects the latest available financial information and is as of, and for, the years ended December 31, 2015, 2014 and 2013. Aggregate total assets of these entities totaled $294.3 billion and $264.7 billion at December 31, 2015 and 2014, respectively. Aggregate total liabilities of these entities totaled $46.3 billion and $23.2 billion at December 31, 2015 and 2014, respectively. Aggregate net income (loss) of these entities totaled $13.7 billion, $25.1 billion and $20.9 billion for the years ended December 31, 2015, 2014 and 2013, respectively. Aggregate net income (loss) from the underlying entities in which the Company invests is primarily comprised of investment income, including recurring investment income and realized and unrealized investment gains (losses).

Variable Interest Entities

The Company has invested in certain structured transactions (including CSEs) that are VIEs. In certain instances, the Company holds both the power to direct the most significant activities of the entity, as well as an economic interest in the entity and, as such, is deemed to be the primary beneficiary or consolidator of the entity.

The determination of the VIE’s primary beneficiary requires an evaluation of the contractual and implied rights and obligations associated with each party’s relationship with or involvement in the entity, an estimate of the entity’s expected losses and expected residual returns and the allocation of such estimates to each party involved in the entity. The Company generally uses a qualitative approach to determine whether it is the primary beneficiary. However, for VIEs that are investment companies or apply measurement principles consistent with those utilized by investment companies, the primary beneficiary is based on a risks and rewards model and is defined as the entity that will absorb a majority of a VIE’s expected losses, receive a majority of a VIE’s expected residual returns if no single entity absorbs a majority of expected losses, or both. The Company reassesses its involvement with VIEs on a quarterly basis. The use of different methodologies, assumptions and inputs in the determination of the primary beneficiary could have a material effect on the amounts presented within the consolidated financial statements.

Consolidated VIEs

Creditors or beneficial interest holders of VIEs where the Company is the primary beneficiary have no recourse to the general credit of the Company, as the Company’s obligation to the VIEs is limited to the amount of its committed investment.

The following table presents the total assets and total liabilities relating to VIEs for which the Company has concluded that it is the primary beneficiary and which are consolidated at December 31, 2015 and 2014.



	December 31,
	2015		2014
	(In millions)
CSEs: (1)
Assets:
Mortgage loans (commercial mortgage loans)	$	172	$	280
Accrued investment income	1		2
Total assets	$	173	$	282
Liabilities:
Long-term debt	$	48	$	139
Other liabilities	1		1
Total liabilities	$	49	$	140

______________

(1)

The Company consolidates entities that are structured as CMBS. The assets of these entities can only be used to settle their respective liabilities, and under no circumstances is the Company liable for any principal or interest shortfalls should any arise. The Company’s exposure was limited to that of its remaining investment in these entities of $105 million and $123 million at estimated fair value at December 31, 2015 and 2014, respectively. The long-term debt bears interest primarily at fixed rates ranging from 2.25% to 5.57%, payable primarily on a monthly basis. Interest expense related to these obligations, included in other expenses, was $8 million, $36 million and $122 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Unconsolidated VIEs

The carrying amount and maximum exposure to loss relating to VIEs in which the Company holds a significant variable interest but is not the primary beneficiary and which have not been consolidated were as follows at:



	December 31,
	2015				2014
	Carrying Amount		Maximum Exposure to Loss (1)		Carrying Amount		Maximum Exposure to Loss (1)
	(In millions)
Fixed maturity securities AFS:
Structured securities (RMBS, ABS and CMBS) (2)	$	13,453	$	13,453	$	9,322	$	9,322
U.S. and foreign corporate	461		461		526		526
Other limited partnership interests	1,367		1,647		1,774		2,162
Other investments (3)	92		100		103		117
Total	$	15,373	$	15,661	$	11,725	$	12,127

______________

(1)

The maximum exposure to loss relating to fixed maturity and equity 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 less than $1 million at both December 31, 2015 and 2014. Such a maximum loss would be expected to occur only upon bankruptcy of the issuer or investee.


(2)	For these variable interests, the Company’s involvement is limited to that of a passive investor in mortgage-backed or asset-backed securities issued by trusts that do not have substantial equity.


(3)	Other investments is comprised of real estate joint ventures, other invested assets and non-redeemable preferred stock.

As described in Note 16, the Company makes commitments to fund partnership investments in the normal course of business. Excluding these commitments, the Company did not provide financial or other support to investees designated as VIEs during the years ended December 31, 2015, 2014 and 2013.

Net Investment Income

The components of net investment income were as follows:



	Years Ended December 31,
	2015		2014		2013
	(In millions)
Investment income:
Fixed maturity securities	$	2,010	$	1,954	$	2,235
Equity securities	18		17		13
Mortgage loans	360		337		360
Policy loans	54		59		57
Real estate and real estate joint ventures	108		80		56
Other limited partnership interests	134		266		270
Cash, cash equivalents and short-term investments	8		5		7
Operating joint venture	11		2		(5		)
Other	11		3		(2		)
Subtotal	2,714		2,723		2,991
Less: Investment expenses	115		103		124
Subtotal, net	2,599		2,620		2,867
FVO CSEs — interest income — commercial mortgage loans	16		49		132
Subtotal	16		49		132
Net investment income	$	2,615	$	2,669	$	2,999

See “— Variable Interest Entities” for discussion of CSEs.

See “— Related Party Investment Transactions” for discussion of affiliated net investment income and investment expenses.

Net Investment Gains (Losses)

Components of Net Investment Gains (Losses)

The components of net investment gains (losses) were as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Total gains (losses) on fixed maturity securities:
Total OTTI losses recognized — by sector and industry:
U.S. and foreign corporate securities — by industry:
Consumer	$	(8	)	$	(2	)	$	—
Industrial	(3		)	—			—
Transportation	—			(2		)	(3		)
Finance	—			—			(3		)
Total U.S. and foreign corporate securities	(11		)	(4		)	(6		)
RMBS	(14		)	(8		)	(14		)
OTTI losses on fixed maturity securities recognized in earnings	(25		)	(12		)	(20		)
Fixed maturity securities — net gains (losses) on sales and disposals	(34		)	26			61
Total gains (losses) on fixed maturity securities	(59		)	14			41
Total gains (losses) on equity securities:
Total OTTI losses recognized — by sector:
Common stock	(3		)	(7		)	(2		)
Non-redeemable preferred stock	—			(8		)	(3		)
OTTI losses on equity securities recognized in earnings	(3		)	(15		)	(5		)
Equity securities — net gains (losses) on sales and disposals	18			14			10
Total gains (losses) on equity securities	15			(1		)	5
Mortgage loans	(11		)	17			5
Real estate and real estate joint ventures	98			(4		)	2
Other limited partnership interests	(1		)	(9		)	(6		)
Other	(2		)	43			(2		)
Subtotal	40			60			45
FVO CSEs:
Commercial mortgage loans	(7		)	(13		)	(56		)
Long-term debt — related to commercial mortgage loans	4			19			88
Non-investment portfolio gains (losses) (1)	(1		)	(535		)	(50		)
Subtotal	(4		)	(529		)	(18		)
Total net investment gains (losses)	$	36		$	(469	)	$	27

______________


(1)	Non-investment portfolio gains (losses) for the year ended December 31, 2014 includes a loss of $608 million related to the disposition of MAL as more fully described in Note 4.

See “— Variable Interest Entities” for discussion of CSEs.

See “— Related Party Investment Transactions” for discussion of affiliated net investment gains (losses) related to transfers of invested assets to affiliates.

Gains (losses) from foreign currency transactions included within net investment gains (losses) were ($6) million, $66 million and ($59) million for the years ended December 31, 2015, 2014 and 2013, respectively.

Sales or Disposals and Impairments of Fixed Maturity and Equity Securities

Investment gains and losses on sales of securities are determined on a specific identification basis. Proceeds from sales or disposals of fixed maturity and equity securities and the components of fixed maturity and equity securities net investment gains (losses) were as shown in the table below.



	Years Ended December 31,
	2015			2014			2013			2015			2014			2013
	Fixed Maturity Securities									Equity Securities
	(In millions)
Proceeds	$	29,937		$	14,649		$	11,719		$	80		$	57		$	75
Gross investment gains	$	165		$	84		$	194		$	25		$	15		$	18
Gross investment losses	(199		)	(58		)	(133		)	(7		)	(1		)	(8		)
OTTI losses	(25		)	(12		)	(20		)	(3		)	(15		)	(5		)
Net investment gains (losses)	$	(59	)	$	14		$	41		$	15		$	(1	)	$	5

Credit Loss Rollforward

The table below presents a rollforward of the cumulative credit loss component of OTTI loss recognized in earnings on fixed maturity securities still held for which a portion of the OTTI loss was recognized in OCI:



	Years Ended December 31,
	2015			2014
	(In millions)
Balance at January 1,	$	57		$	59
Additions:
Initial impairments — credit loss OTTI on securities not previously impaired	1			—
Additional impairments — credit loss OTTI on securities previously impaired	11			7
Reductions:
Sales (maturities, pay downs or prepayments) of securities previously impaired as credit loss OTTI	(14		)	(9		)
Increase in cash flows — accretion of previous credit loss OTTI	(3		)	—
Balance at December 31,	$	52		$	57

Related Party Investment Transactions

The Company transfers invested assets, primarily consisting of fixed maturity securities, to and from affiliates. Invested assets transferred to and from affiliates were as follows:



	Years Ended December 31,
	2015		2014		2013
	(In millions)
Estimated fair value of invested assets transferred to affiliates	$	185	$	1,441	$	874
Amortized cost of invested assets transferred to affiliates	$	169	$	1,362	$	827
Net investment gains (losses) recognized on transfers	$	16	$	79	$	47
Estimated fair value of invested assets transferred from affiliates	$	928	$	132	$	834

In 2013, prior to the Mergers, the Company transferred invested assets to and from MLIC of $739 million and $751 million, respectively, related to the establishment of a custodial account to secure certain policyholder liabilities, which is included in the table above. See Note 3 for additional information on the Mergers.

In July 2014, prior to the Mergers, the Company sold affiliated loans to other affiliates, which were included in other invested assets and in the table above, at an estimated fair value totaling $520 million and a $45 million gain was recognized in net investment gains (losses). Net investment income from these affiliated loans was $13 million and $28 million for the years ended December 31, 2014 and 2013, respectively.

The Company had affiliated loans outstanding to wholly-owned real estate subsidiaries of an affiliate, MLIC, which were included in mortgage loans, with a carrying value of $242 million at December 31, 2014. In August 2015 and November 2014, one affiliated loan with a carrying value of $132 million and two affiliated loans with a total carrying value of $120 million were repaid in cash prior to maturity. The remaining loan with a carrying value of $110 million was repaid in cash upon maturity in December 31, 2015. These affiliated loans were secured by interests in the real estate subsidiaries, which owned operating real estate with an estimated fair value in excess of the affiliated loans. Net investment income from these affiliated loans was $8 million, $34 million and $16 million for the years ended December 31, 2015, 2014 and 2013, respectively. In addition, mortgage loan prepayment income earned from the three repayments prior to maturity described above was $31 million and $16 million for the years ended December 31, 2015 and 2014, respectively.

The Company receives investment administrative services from an affiliate. The related investment administrative service charges were $68 million, $62 million, and $76 million for years ended December 31, 2015, 2014 and 2013, respectively. The Company also had affiliated net investment income of less than $1 million for both the years ended December 31, 2015 and 2014 and $1 million for the year ended December 31, 2013.

See “— Mortgage Loans — Mortgage Loans by Portfolio Segment” for discussion of mortgage loan participation agreements with affiliate.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Derivatives

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

9. Derivatives

Accounting for Derivatives

See Note 1 for a description of the Company’s accounting policies for derivatives and Note 10 for information about the fair value hierarchy for derivatives.

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.

Derivatives are financial instruments with values derived from interest rates, foreign currency exchange rates, credit spreads and/or other financial indices. 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 clearing counterparties (“OTC-cleared”), while others are bilateral contracts between two counterparties (“OTC-bilateral”). The types of derivatives the Company uses include swaps, forwards, futures and option contracts. To a lesser extent, the Company uses credit default swaps to synthetically replicate investment risks and returns which are not readily available in the cash market.

Interest Rate Derivatives

The Company uses a variety of interest rate derivatives to reduce its exposure to changes in interest rates, including interest rate swaps, caps, floors, swaptions, futures and forwards.

Interest rate swaps are used by the Company primarily to reduce market risks from changes in interest rates and to alter interest rate exposure arising from mismatches between assets and liabilities (duration mismatches). In an interest rate swap, the Company agrees with another party to exchange, at specified intervals, the difference between fixed rate and floating rate interest amounts as calculated by reference to an agreed notional amount. The Company utilizes interest rate swaps in fair value, cash flow and nonqualifying hedging relationships.

The Company purchases interest rate caps and floors primarily to protect its floating rate liabilities against rises in interest rates above a specified level, and against interest rate exposure arising from mismatches between assets and liabilities, as well as to protect its minimum rate guarantee liabilities against declines in interest rates below a specified level, respectively. In certain instances, the Company locks in the economic impact of existing purchased caps and floors by entering into offsetting written caps and floors. The Company utilizes interest rate caps and floors in nonqualifying hedging relationships.

In exchange-traded interest rate (Treasury and swap) futures transactions, the Company agrees to purchase or sell a specified number of contracts, the value of which is determined by the different classes of interest rate securities, and to post variation margin on a daily basis in an amount equal to the difference in the daily market values of those contracts. The Company enters into exchange-traded futures with regulated futures commission merchants that are members of the exchange. Exchange-traded interest rate (Treasury and swap) futures are used primarily to hedge mismatches between the duration of assets in a portfolio and the duration of liabilities supported by those assets, to hedge against changes in value of securities the Company owns or anticipates acquiring, to hedge against changes in interest rates on anticipated liability issuances by replicating Treasury or swap curve performance, and to hedge minimum guarantees embedded in certain variable annuity products offered by the Company. The Company utilizes exchange-traded interest rate futures in nonqualifying hedging relationships.

Swaptions are used by the Company to hedge interest rate risk associated with the Company’s long-term liabilities and invested assets. A swaption is an option to enter into a swap with a forward starting effective date. In certain instances, the Company locks in the economic impact of existing purchased swaptions by entering into offsetting written swaptions. The Company pays a premium for purchased swaptions and receives a premium for written swaptions. The Company utilizes swaptions in nonqualifying hedging relationships. Swaptions are included in interest rate options.

The Company enters into interest rate forwards to buy and sell securities. The price is agreed upon at the time of the contract and payment for such a contract is made at a specified future date. The Company utilizes interest rate forwards in cash flow hedging relationships.

Foreign Currency Exchange Rate Derivatives

The Company uses foreign currency swaps to reduce the risk from fluctuations in foreign currency exchange rates associated with its assets and liabilities denominated in foreign currencies. In a foreign currency swap transaction, the Company agrees with another party to exchange, at specified intervals, the difference between one currency and another at a fixed exchange rate, generally set at inception, calculated by reference to an agreed upon notional amount. The notional amount of each currency is exchanged at the inception and termination of the currency swap by each party. The Company utilizes foreign currency swaps in fair value, cash flow and nonqualifying hedging relationships.

To a lesser extent, the Company uses foreign currency forwards and exchange-traded currency futures in nonqualifying hedging relationships.

Credit Derivatives

The Company enters into purchased credit default swaps to hedge against credit-related changes in the value of its investments. In a credit default swap transaction, the Company agrees with another party to pay, at specified intervals, a premium to hedge credit risk. If a credit event occurs, as defined by the contract, the contract may be cash settled or it may be settled gross by the delivery of par quantities of the referenced investment equal to the specified swap notional amount in exchange for the payment of cash amounts by the counterparty equal to the par value of the investment surrendered. Credit events vary by type of issuer but typically include bankruptcy, failure to pay debt obligations, repudiation, moratorium, involuntary restructuring or governmental intervention. In each case, payout on a credit default swap is triggered only after the Credit Derivatives Determinations Committee of the International Swaps and Derivatives Association, Inc. (“ISDA”) deems that a credit event has occurred. The Company utilizes credit default swaps in nonqualifying hedging relationships.

The Company enters into written credit default swaps to synthetically create credit investments that are either more expensive to acquire or otherwise unavailable in the cash markets. These transactions are a combination of a derivative and one or more cash instruments, such as U.S. Treasury securities, agency securities or other fixed maturity securities. These credit default swaps are not designated as hedging instruments.

To a lesser extent, the Company uses credit forwards to lock in the price to be paid for forward purchases of certain securities. The Company utilizes credit forwards in cash flow hedging relationships.

Equity Derivatives

The Company uses a variety of equity derivatives to reduce its exposure to equity market risk, including equity index options, equity variance swaps, exchange-traded equity futures and total rate of return swaps (“TRRs”).

Equity index options are used by the Company primarily to hedge minimum guarantees embedded in certain variable annuity products offered by the Company. To hedge against adverse changes in equity indices, the Company enters into contracts to sell the equity index within a limited time at a contracted price. The contracts will be net settled in cash based on differentials in the indices at the time of exercise and the strike price. Certain of these contracts may also contain settlement provisions linked to interest rates. In certain instances, the Company may enter into a combination of transactions to hedge adverse changes in equity indices within a pre-determined range through the purchase and sale of options. The Company utilizes equity index options in nonqualifying hedging relationships.

Equity variance swaps are used by the Company primarily to hedge minimum guarantees embedded in certain variable annuity products offered by the Company. In an equity variance swap, the Company agrees with another party to exchange amounts in the future, based on changes in equity volatility over a defined period. The Company utilizes equity variance swaps in nonqualifying hedging relationships.

In exchange-traded equity futures transactions, the Company agrees to purchase or sell a specified number of contracts, the value of which is determined by the different classes of equity securities, and to post variation margin on a daily basis in an amount equal to the difference in the daily market values of those contracts. The Company enters into exchange-traded futures with regulated futures commission merchants that are members of the exchange. Exchange-traded equity futures are used primarily to hedge minimum guarantees embedded in certain variable annuity products offered by the Company. The Company utilizes exchange-traded equity futures in nonqualifying hedging relationships.

TRRs are swaps whereby the Company agrees with another party to exchange, at specified intervals, the difference between the economic risk and reward of an asset or a market index and the LIBOR, calculated by reference to an agreed notional amount. No cash is exchanged at the outset of the contract. Cash is paid and received over the life of the contract based on the terms of the swap. The Company uses TRRs to hedge its equity market guarantees in certain of its insurance products. TRRs can be used as hedges or to synthetically create investments. The Company utilizes TRRs in nonqualifying hedging relationships.

Primary Risks Managed by Derivatives

The following table presents the gross notional amount, estimated fair value and primary underlying risk exposure of the Company’s derivatives, excluding embedded derivatives, held at:



	Primary Underlying Risk Exposure	December 31,
		2015						2014
				Estimated Fair Value						Estimated Fair Value
		Gross Notional Amount		Assets		Liabilities		Gross Notional Amount		Assets		Liabilities
		(In millions)
Derivatives Designated as Hedging Instruments
Fair value hedges:
Interest rate swaps	Interest rate	$	420	$	38	$	1	$	379	$	33	$	2
Cash flow hedges:
Interest rate swaps	Interest rate	230		60		—		369		81		—
Interest rate forwards	Interest rate	35		8		—		155		45		—
Foreign currency swaps	Foreign currency exchange rate	937		126		3		728		56		9
Subtotal		1,202		194		3		1,252		182		9
Total qualifying hedges		1,622		232		4		1,631		215		11
Derivatives Not Designated or Not Qualifying as Hedging Instruments
Interest rate swaps	Interest rate	23,134		1,804		638		25,919		1,709		601
Interest rate floors	Interest rate	7,036		33		24		16,404		83		69
Interest rate caps	Interest rate	13,792		38		—		7,901		11		—
Interest rate futures	Interest rate	630		2		—		325		1		—
Interest rate options	Interest rate	18,620		472		5		29,870		446		16
Foreign currency swaps	Foreign currency exchange rate	659		75		—		672		59		4
Foreign currency forwards	Foreign currency exchange rate	185		4		1		48		3		—
Credit default swaps — purchased	Credit	21		—		—		45		—		1
Credit default swaps — written	Credit	2,093		13		1		1,924		29		1
Equity futures	Equity market	3,669		37		—		3,086		34		—
Equity index options	Equity market	44,035		1,032		626		27,212		854		613
Equity variance swaps	Equity market	14,866		120		434		15,433		120		435
TRRs	Equity market	2,814		31		49		2,332		12		67
Total non-designated or nonqualifying derivatives		131,554		3,661		1,778		131,171		3,361		1,807
Total		$	133,176	$	3,893	$	1,782	$	132,802	$	3,576	$	1,818

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 December 31, 2015 and 2014. 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 that are used to synthetically create credit 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.

Net Derivative Gains (Losses)

The components of net derivative gains (losses) were as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Freestanding derivatives and hedging gains (losses) (1)	$	(154	)	$	868		$	(5,826	)
Embedded derivatives gains (losses)	(270		)	(1,049		)	6,267
Total net derivative gains (losses)	$	(424	)	$	(181	)	$	441

______________


(1)	Includes foreign currency transaction gains (losses) on hedged items in cash flow and nonqualifying hedging relationships, which are not presented elsewhere in this note.

The following table presents earned income on derivatives:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Qualifying hedges:
Net investment income	$	11		$	4		$	2
Interest credited to policyholder account balances	(2		)	(1		)	2
Nonqualifying hedges:
Net derivative gains (losses)	360			273			(157		)
Policyholder benefits and claims	14			32			(292		)
Total	$	383		$	308		$	(445	)

Nonqualifying Derivatives and Derivatives for Purposes Other Than Hedging

The following table presents the amount and location of gains (losses) recognized in income for derivatives that were not designated or qualifying as hedging instruments:



	Net Derivative Gains (Losses)			Net Investment Income (1)			Policyholder Benefits and Claims (2)
	(In millions)
Year Ended December 31, 2015
Interest rate derivatives	$	(67	)	$	—		$	5
Foreign currency exchange rate derivatives	42			—			—
Credit derivatives — purchased	—			—			—
Credit derivatives — written	(14		)	—			—
Equity derivatives	(476		)	(4		)	(25		)
Total	$	(515	)	$	(4	)	$	(20	)
Year Ended December 31, 2014
Interest rate derivatives	$	1,174		$	—		$	43
Foreign currency exchange rate derivatives	4			—			—
Credit derivatives — purchased	(22		)	—			—
Credit derivatives — written	18			—			—
Equity derivatives	(591		)	(8		)	(279		)
Total	$	583		$	(8	)	$	(236	)
Year Ended December 31, 2013
Interest rate derivatives	$	(1,534	)	$	—		$	(27	)
Foreign currency exchange rate derivatives	(542		)	—			—
Credit derivatives — purchased	—			—			—
Credit derivatives — written	27			—			—
Equity derivatives	(3,625		)	(7		)	(726		)
Total	$	(5,674	)	$	(7	)	$	(753	)

______________


(1)	Changes in estimated fair value related to economic hedges of equity method investments in joint ventures.


(2)	Changes in estimated fair value related to economic hedges of variable annuity guarantees included in future policy benefits.

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 liabilities.

The Company recognizes gains and losses on derivatives and the related hedged items in fair value hedges within net derivative gains (losses). The following table presents the amount of such net derivative gains (losses):



Derivatives in Fair Value Hedging Relationships	Hedged Items in Fair Value Hedging Relationships	Net Derivative Gains (Losses) Recognized for Derivatives			Net Derivative Gains (Losses) Recognized for Hedged Items			Ineffectiveness Recognized in Net Derivative Gains (Losses)
		(In millions)
Year Ended December 31, 2015
Interest rate swaps:	Fixed maturity securities	$	1		$	1		$	2
	Policyholder liabilities (1)	2			(2		)	—
Foreign currency swaps:	Foreign-denominated policyholder account balances (2)	—			—			—
Total		$	3		$	(1	)	$	2
Year Ended December 31, 2014
Interest rate swaps:	Fixed maturity securities	$	1		$	(1	)	$	—
	Policyholder liabilities (1)	32			(31		)	1
Foreign currency swaps:	Foreign-denominated policyholder account balances (2)	—			—			—
Total		$	33		$	(32	)	$	1
Year Ended December 31, 2013
Interest rate swaps:	Fixed maturity securities	$	7		$	(9	)	$	(2	)
	Policyholder liabilities (1)	(30		)	28			(2		)
Foreign currency swaps:	Foreign-denominated policyholder account balances (2)	2			(2		)	—
Total		$	(21	)	$	17		$	(4	)

______________


(1)	Fixed rate liabilities reported in policyholder account balances or future policy benefits.


(2)	Fixed rate or floating rate liabilities.

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 net derivative gains (losses). These amounts were $3 million for the year ended December 31, 2015 and not significant for both the years ended December 31, 2014 and 2013.

At December 31, 2015 and 2014, 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 four years and five years, respectively.

At December 31, 2015 and 2014, the balance in AOCI associated with cash flow hedges was $368 million and $282 million, respectively.

The following table presents the effects of derivatives in cash flow hedging relationships on the consolidated statements of operations and the consolidated statements of stockholder’s equity:



Derivatives in Cash Flow Hedging Relationships	Amount of Gains (Losses) Deferred in AOCI on Derivatives			Amount and Location of Gains (Losses) Reclassified from AOCI into Income (Loss)					Amount and Location of Gains (Losses) Recognized in Income (Loss) on Derivatives



	(Effective Portion)			(Effective Portion)					(Ineffective Portion)
				Net Derivative Gains (Losses)			Net Investment Income		Net Derivative Gains (Losses)
	(In millions)
Year Ended December 31, 2015
Interest rate swaps	$	15		$	1		$	1	$	1
Interest rate forwards	1			2			2		—
Foreign currency swaps	76			—			—		—
Credit forwards	—			—			—		—
Total	$	92		$	3		$	3	$	1
Year Ended December 31, 2014
Interest rate swaps	$	131		$	1		$	1	$	—
Interest rate forwards	55			1			1		—
Foreign currency swaps	56			(6		)	—		—
Credit forwards	—			—			—		—
Total	$	242		$	(4	)	$	2	$	—
Year Ended December 31, 2013
Interest rate swaps	$	(120	)	$	—		$	1	$	—
Interest rate forwards	(57		)	9			1		—
Foreign currency swaps	(17		)	—			—		1
Credit forwards	(1		)	—			—		—
Total	$	(195	)	$	9		$	2	$	1

All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness.

At December 31, 2015, $27 million of deferred net gains (losses) on derivatives in AOCI was expected to be reclassified 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 nonqualifying derivatives and derivatives for purposes other than hedging 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 $2.1 billion and $1.9 billion at December 31, 2015 and 2014, 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 December 31, 2015 and 2014, the Company would have received $12 million and $28 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:



	December 31,
	2015					2014
Rating Agency Designation of Referenced Credit Obligations (1)	Estimated Fair Value of Credit Default Swaps		Maximum Amount of Future Payments under Credit Default Swaps		Weighted Average Years to Maturity (2)	Estimated Fair Value of Credit Default Swaps		Maximum Amount of Future Payments under Credit Default Swaps		Weighted Average Years to Maturity (2)
	(In millions)					(In millions)
Aaa/Aa/A
Single name credit default swaps (corporate)	$	1	$	207	1.5	$	2	$	155	2.1
Credit default swaps referencing indices	1		219		4.0	1		134		1.3
Subtotal	2		426		2.8	3		289		1.7
Baa
Single name credit default swaps (corporate)	2		409		1.6	5		454		2.3
Credit default swaps referencing indices	8		1,222		4.8	18		1,145		5.0
Subtotal	10		1,631		4.0	23		1,599		4.2
B
Single name credit default swaps (corporate)	—		—		—	—		—		—
Credit default swaps referencing indices	—		36		5.0	2		36		5.0
Subtotal	—		36		5.0	2		36		5.0
Total	$	12	$	2,093	3.8	$	28	$	1,924	3.8

______________


(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 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.

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.

The Company manages its credit risk related to derivatives by entering into transactions with creditworthy counterparties and establishing and monitoring exposure limits. The Company’s OTC-bilateral derivative transactions are generally governed by 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, the Company is permitted to set off receivables from the counterparty against payables to the same counterparty arising out of all included transactions. Substantially 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.

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 counterparties to such derivatives.

See Note 10 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:



	December 31,
	2015						2014
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)	$	3,870		$	1,725		$	3,554		$	1,767
OTC-cleared (1)	78			78			75			73
Exchange-traded	39			—			35			—
Total gross estimated fair value of derivatives (1)	3,987			1,803			3,664			1,840
Amounts offset on the consolidated balance sheets	—			—			—			—
Estimated fair value of derivatives presented on the consolidated balance sheets (1)	3,987			1,803			3,664			1,840
Gross amounts not offset on the consolidated balance sheets:
Gross estimated fair value of derivatives: (2)
OTC-bilateral	(1,577		)	(1,577		)	(1,592		)	(1,592		)
OTC-cleared	(70		)	(70		)	(54		)	(54		)
Exchange-traded	—			—			—			—
Cash collateral: (3), (4)
OTC-bilateral	(1,605		)	—			(753		)	—
OTC-cleared	(8		)	(8		)	(21		)	(18		)
Exchange-traded	—			—			—			—
Securities collateral: (5)
OTC-bilateral	(552		)	(148		)	(1,152		)	(175		)
OTC-cleared	—			—			—			—
Exchange-traded	—			—			—			—
Net amount after application of master netting agreements and collateral	$	175		$	—		$	92		$	1

______________


(1)	At December 31, 2015 and 2014, derivative assets included income or expense accruals reported in accrued investment income or in other liabilities of $94 million and $88 million, respectively, and derivative liabilities included income or expense accruals reported in accrued investment income or in other liabilities of $21 million and $22 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 is included in cash and cash equivalents, short-term investments or in fixed maturity securities, and the obligation to return it is included in payables for collateral under securities loaned and other transactions on the balance sheet. In certain instances, cash collateral pledged to the Company as initial margin for OTC-bilateral derivatives is held in separate custodial accounts and is not recorded on the Company’s balance sheet because the account title is in the name of the counterparty (but segregated for the benefit of the Company). The amount of this off-balance sheet collateral was $0 and $121 million at December 31, 2015 and 2014, respectively.

(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 December 31, 2015 and 2014, the Company received excess cash collateral of $1 million and $33 million (including $0 and $33 million off-balance sheet cash collateral held in separate custodial accounts), respectively, and provided excess cash collateral of $62 million and $30 million, respectively, which is not included in the table above due to the foregoing limitation.

(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 December 31, 2015 none of the collateral had been sold or re-pledged. Securities collateral pledged by the Company is reported in fixed maturity securities 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 December 31, 2015 and 2014, the Company received excess securities collateral with an estimated fair value of $0 and $122 million, respectively, for its OTC-bilateral derivatives, which are not included in the table above due to the foregoing limitation. At December 31, 2015 and 2014, the Company provided excess securities collateral with an estimated fair value of $36 million and $17 million, respectively, for its OTC-bilateral derivatives, $34 million and $37 million, respectively, for its OTC-cleared derivatives, and $156 million and $165 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 estimated fair value of that counterparty’s derivatives reaches a pre-determined threshold. Certain of these arrangements also include financial strength-contingent provisions that provide for a reduction of these thresholds (on a sliding scale that converges toward zero) in the event of downgrades in the financial strength ratings of MetLife Insurance Company USA and/or the credit ratings of the counterparty. In addition, certain of the Company’s netting agreements for derivatives contain provisions that require both MetLife Insurance Company USA 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 ratings 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 are 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. The table also presents the incremental collateral that MetLife Insurance Company USA would be required to provide if there was a one-notch downgrade in MetLife Insurance Company USA’s financial strength rating at the reporting date or if MetLife Insurance Company USA’s financial strength rating sustained a downgrade to a level that triggered full overnight collateralization or termination of the derivative position at the reporting date. OTC-bilateral derivatives that are not subject to collateral agreements are excluded from this table.



	December 31,
	2015		2014
	(In millions)
Estimated fair value of derivatives in a net liability position (1)	$	148	$	175
Estimated Fair Value of Collateral Provided
Fixed maturity securities	$	179	$	192
Cash	$	—	$	—
Fair Value of Incremental Collateral Provided Upon
One-notch downgrade in financial strength rating	$	—	$	—
Downgrade in financial strength rating to a level that triggers full overnight collateralization or termination of the derivative position	$	—	$	—

______________


(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. These host contracts principally include: variable annuities with guaranteed minimum benefits, including GMWBs, GMABs and certain GMIBs; affiliated ceded reinsurance of guaranteed minimum benefits related to GMWBs, GMABs and certain GMIBs; affiliated assumed reinsurance of guaranteed minimum benefits related to GMWBs and certain GMIBs; funds withheld on ceded reinsurance; fixed annuities with equity indexed returns; and certain debt and equity securities.

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:



		December 31,
	Balance Sheet Location	2015			2014
		(In millions)
Net embedded derivatives within asset host contracts:
Ceded guaranteed minimum benefits	Premiums, reinsurance and other receivables	$	242		$	217
Funds withheld on assumed reinsurance	Other invested assets	35			53
Options embedded in debt or equity securities	Investments	(63		)	(48		)
Net embedded derivatives within asset host contracts		$	214		$	222
Net embedded derivatives within liability host contracts:
Direct guaranteed minimum benefits	Policyholder account balances	$	177		$	(609	)
Assumed guaranteed minimum benefits	Policyholder account balances	897			827
Funds withheld on ceded reinsurance	Other liabilities	244			382
Other	Policyholder account balances	6			17
Net embedded derivatives within liability host contracts		$	1,324		$	617

The following table presents changes in estimated fair value related to embedded derivatives:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Net derivative gains (losses) (1), (2)	$	(270	)	$	(1,049	)	$	6,267
Policyholder benefits and claims	$	21		$	87		$	(139	)

______________


(1)	The valuation of direct and assumed guaranteed minimum benefits includes a nonperformance risk adjustment. The amounts included in net derivative gains (losses) in connection with this adjustment were $25 million, $73 million and ($1.0) billion for the years ended December 31, 2015, 2014 and 2013, respectively.


(2)	See Note 7 for discussion of affiliated net derivative gains (losses).

Related Party Freestanding Derivative Transactions

In November 2014, as part of the settlement of related party reinsurance transactions, the Company transferred derivatives to affiliates. The estimated fair value of freestanding derivative assets and liabilities transferred was $1.8 billion and $1.2 billion, respectively. See Note 7 for additional information regarding related party reinsurance transactions in connection with the Mergers.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Debt

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Debt

12. Debt

Long-term debt outstanding was as follows:



	Interest Rate	Maturity	December 31,
	Interest Rate	Maturity	2015		2014
			(In millions)
Surplus note — affiliated (1)	8.60%	2038	$	750	$	750
Long-term debt — unaffiliated (2)	7.03%	2030	38		39
Total long-term debt (3)			$	788	$	789

______________


(1)	Payments of interest and principal on the affiliated surplus note, which is subordinate to all other obligations and may be made only with the prior approval of the Delaware Commissioner of Insurance (the “Delaware Commissioner”).


(2)	Principal and interest is paid quarterly.


(3)	Excludes $48 million and $139 million of long-term debt relating to CSEs at December 31, 2015 and 2014, respectively. See Note 8.

In December 2014, MetLife USA repaid in cash at maturity its $75 million 6.80% affiliated note.

The aggregate maturities of long-term debt at December 31, 2015 are $1 million in 2016, $1 million in 2017, $2 million in each of 2018, 2019 and 2020 and $780 million thereafter.

Interest expense related to the Company’s indebtedness is included in other expenses and was $68 million for year ended December 31, 2015 and was $73 million for each of the years ended December 31, 2014 and 2013.

Letters of Credit

The Company had access to credit facilities from various banks, either directly with the bank or indirectly through letters of credit available to MetLife, Inc. for the benefit of the Company and certain other affiliates of MetLife, Inc. These facilities were used for collateral for certain of the Company’s affiliated reinsurance liabilities. Total fees associated with letters of credit was $5 million, $13 million and $27 million for the years ended December 31, 2015, 2014 and 2013, respectively, and was included in other expenses. At December 31, 2015, the Company had $0 in letters of credit outstanding. Remaining availability was $3.5 billion at December 31, 2015.

Fair Value

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value

10. Fair Value

When developing estimated fair values, the Company considers three broad valuation techniques: (i) the market approach, (ii) the income approach, and (iii) the cost approach. The Company determines the most appropriate valuation technique to use, given what is being measured and the availability of sufficient inputs, giving priority to observable inputs. The Company categorizes its assets and liabilities measured at estimated fair value into a three-level hierarchy, based on the significant input with the lowest level in its valuation. The input levels are as follows:



Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities. The Company defines active markets based on average trading volume for equity securities. The size of the bid/ask spread is used as an indicator of market activity for fixed maturity securities.



Level 2	Quoted prices in markets that are not active or inputs that are observable either directly or indirectly. These inputs can include quoted prices for similar assets or liabilities other than quoted prices in Level 1, quoted prices in markets that are not active, or other significant inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.



Level 3	Unobservable inputs that are supported by little or no market activity and are significant to the determination of estimated fair value of the assets or liabilities. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability.

Financial markets are susceptible to severe events evidenced by rapid depreciation in asset values accompanied by a reduction in asset liquidity. The Company’s ability to sell securities, or the price ultimately realized for these securities, depends upon the demand and liquidity in the market and increases the use of judgment in determining the estimated fair value of certain securities.

Considerable judgment is often required in interpreting market data 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.



	December 31, 2015
	Fair Value Hierarchy
	Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Fixed maturity securities:
U.S. corporate	$	—	$	15,295	$	1,451	$	16,746
U.S. Treasury and agency	7,998		5,808		—		13,806
RMBS	—		7,138		1,340		8,478
Foreign corporate	—		4,263		691		4,954
State and political subdivision	—		2,692		13		2,705
ABS	—		2,357		317		2,674
CMBS	—		2,120		181		2,301
Foreign government	—		719		26		745
Total fixed maturity securities	7,998		40,392		4,019		52,409
Equity securities	44		268		97		409
Short-term investments (1)	59		1,623		47		1,729
Commercial mortgage loans held by CSEs — FVO	—		172		—		172
Derivative assets: (2)
Interest rate	2		2,445		8		2,455
Foreign currency exchange rate	—		205		—		205
Credit	—		12		1		13
Equity market	37		968		215		1,220
Total derivative assets	39		3,630		224		3,893
Net embedded derivatives within asset host contracts (3)	—		—		277		277
Separate account assets (4)	624		100,965		146		101,735
Total assets	$	8,764	$	147,050	$	4,810	$	160,624
Liabilities
Derivative liabilities: (2)
Interest rate	$	—	$	668	$	—	$	668
Foreign currency exchange rate	—		4		—		4
Credit	—		1		—		1
Equity market	—		653		456		1,109
Total derivative liabilities	—		1,326		456		1,782
Net embedded derivatives within liability host contracts (3)	—		—		1,324		1,324
Long-term debt of CSEs — FVO	—		48		—		48
Total liabilities	$	—	$	1,374	$	1,780	$	3,154



	December 31, 2014
	Fair Value Hierarchy						Total Estimated Fair Value
	Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Fixed maturity securities:
U.S. corporate	$	—	$	15,447	$	1,355	$	16,802
U.S. Treasury and agency	10,226		5,600		—		15,826
RMBS	—		5,365		716		6,081
Foreign corporate	—		4,704		710		5,414
State and political subdivision	—		2,592		—		2,592
ABS	—		1,381		181		1,562
CMBS	—		1,531		148		1,679
Foreign government	—		741		—		741
Total fixed maturity securities	10,226		37,361		3,110		50,697
Equity securities	105		254		100		459
Short-term investments (1)	253		812		71		1,136
Commercial mortgage loans held by CSEs — FVO	—		280		—		280
Derivative assets: (2)
Interest rate	1		2,363		45		2,409
Foreign currency exchange rate	—		118		—		118
Credit	—		28		1		29
Equity market	34		770		216		1,020
Total derivative assets	35		3,279		262		3,576
Net embedded derivatives within asset host contracts (3)	—		—		270		270
Separate account assets (4)	249		108,454		158		108,861
Total assets	$	10,868	$	150,440	$	3,971	$	165,279
Liabilities
Derivative liabilities: (2)
Interest rate	$	—	$	688	$	—	$	688
Foreign currency exchange rate	—		13		—		13
Credit	—		2		—		2
Equity market	—		657		458		1,115
Total derivative liabilities	—		1,360		458		1,818
Net embedded derivatives within liability host contracts (3)	—		—		617		617
Long-term debt of CSEs — FVO	—		139		—		139
Total liabilities	$	—	$	1,499	$	1,075	$	2,574

______________


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

(2)

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

(3)

Net embedded derivatives within asset host contracts are presented primarily within premiums, reinsurance and other receivables on the consolidated balance sheets. Net embedded derivatives within liability host contracts are presented within policyholder account balances and other liabilities on the consolidated balance sheets. At December 31, 2015 and 2014, debt and equity securities also included embedded derivatives of ($63) million and ($48) million, respectively.


(4)	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.

The following describes the valuation methodologies used to measure assets and liabilities at fair value. The description includes the valuation techniques and key inputs for each category of assets or liabilities that are classified within Level 2 and Level 3 of the fair value hierarchy.

Investments

Valuation Controls and Procedures

On behalf of the Company and MetLife, Inc.’s Chief Investment Officer and Chief Financial Officer, a pricing and valuation committee that is independent of the trading and investing functions and comprised of senior management, provides oversight of control systems and valuation policies for securities, mortgage loans and derivatives. On a quarterly basis, this committee reviews and approves new transaction types and markets, ensures that observable market prices and market-based parameters are used for valuation, wherever possible, and determines that judgmental valuation adjustments, when applied, are based upon established policies and are applied consistently over time. This committee also provides oversight of the selection of independent third-party pricing providers and the controls and procedures to evaluate third party pricing. Periodically, the Chief Accounting Officer reports to the Audit Committee of MetLife Insurance Company USA’s Board of Directors regarding compliance with fair value accounting standards.

The Company reviews its valuation methodologies on an ongoing basis and revises those methodologies when necessary based on changing market conditions. Assurance is gained on the overall reasonableness and consistent application of input assumptions, valuation methodologies and compliance with fair value accounting standards through controls designed to ensure valuations represent an exit price. Several controls are utilized, including certain monthly controls, which include, but are not limited to, analysis of portfolio returns to corresponding benchmark returns, comparing a sample of executed prices of securities sold to the fair value estimates, comparing fair value estimates to management’s knowledge of the current market, reviewing the bid/ask spreads to assess activity, comparing prices from multiple independent pricing services and ongoing due diligence to confirm that independent pricing services use market-based parameters. The process includes a determination of the observability of inputs used in estimated fair values received from independent pricing services or brokers by assessing whether these inputs can be corroborated by observable market data. The Company ensures that prices received from independent brokers, also referred to herein as “consensus pricing,” represent a reasonable estimate of fair value by considering such pricing relative to the Company’s knowledge of the current market dynamics and current pricing for similar financial instruments. While independent non-binding broker quotations are utilized, they are not used for a significant portion of the portfolio. For example, fixed maturity securities priced using independent non-binding broker quotations represent less than 1% of the total estimated fair value of fixed maturity securities and 5% of the total estimated fair value of Level 3 fixed maturity securities at December 31, 2015.

The Company also applies a formal process to challenge any prices received from independent pricing services that are not considered representative of estimated fair value. If prices received from independent pricing services are not considered reflective of market activity or representative of estimated fair value, independent non-binding broker quotations are obtained, or an internally developed valuation is prepared. Internally developed valuations of current estimated fair value, which reflect internal estimates of liquidity and nonperformance risks, compared with pricing received from the independent pricing services, did not produce material differences in the estimated fair values for the majority of the portfolio; accordingly, overrides were not material. This is, in part, because internal estimates of liquidity and nonperformance risks are generally based on available market evidence and estimates used by other market participants. In the absence of such market-based evidence, management’s best estimate is used.

Securities, Short-term Investments and Long-term Debt of CSEs — FVO

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 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 long-term debt of CSEs — FVO is determined on a basis consistent with the methodologies described herein for securities.

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
U.S. corporate and Foreign corporate securities
	Valuation Techniques: Principally the market and income approaches.			Valuation Techniques: 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 rating		•	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. Treasury and agency, State and political subdivision and Foreign government securities
	Valuation Techniques: Principally the market approach.			Valuation Techniques: 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 quotes		•	credit spreads
	•	comparable securities that are actively traded
Structured securities comprised of RMBS, ABS and CMBS
	Valuation Techniques: Principally the market and income approaches.			Valuation Techniques: 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
	•	average delinquency rates; debt-service coverage ratios
	•	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
Equity Securities
	Valuation Techniques: Principally the market approach.		Valuation Techniques: Principally the market and income approaches.
	Key Input:		Key Inputs:
	•	quoted prices in markets that are not considered active	•	credit ratings; issuance structures
			•	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
			•	independent non-binding broker quotations
Short-term investments
	•	Short-term investments are of a similar nature and class to the fixed maturity and equity securities described above; accordingly, the valuation techniques and observable inputs used in their valuation are also similar to those described above.	•	Short-term investments are of a similar nature and class to the fixed maturity and equity securities described above; accordingly, the valuation techniques and unobservable inputs used in their valuation are also similar to those described above.
Commercial mortgage loans held by CSEs — FVO
	Valuation Techniques: Principally the market approach.		•	N/A
	Key Input:
	•	quoted securitization market price determined principally by independent pricing services using observable inputs

Separate Account Assets (1)
Mutual 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	Valuation Techniques: Valued giving consideration to the underlying holdings of the partnerships and by applying a premium or discount, if appropriate.
			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, 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 Long-term Debt of CSEs — FVO” and “— Derivatives — Freestanding Derivatives Valuation Techniques and Key Inputs.”

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 valuation controls and procedures for derivatives are described in “— Investments.”

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 Valuation Techniques and Key Inputs

Level 2

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

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 Exchange Rate		Credit		Equity Market
Inputs common to Level 2 and Level 3 by instrument type	•	swap yield curve	•	swap yield curve	•	swap yield curve	•	swap yield curve
	•	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 curve (2)	•	N/A	•	swap yield curve (2)	•	dividend yield curves (2)
	•	basis curves (2)			•	credit curves (2)	•	equity volatility (1), (2)
					•	credit spreads	•	correlation between model inputs (1)
					•	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, assumed and ceded variable annuity guarantees, equity or bond indexed crediting rates within certain annuity contracts, and those related to funds withheld on ceded 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 consolidated balance sheets.

The Company’s actuarial department calculates the fair value of these embedded derivatives, which are 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, and is performed using standard actuarial valuation software which projects 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 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 Company assumed from an affiliated insurance company the risk associated with certain GMIBs. These embedded derivatives are included in other policy-related balances on the consolidated balance sheets with changes in estimated fair value reported in net derivative gains (losses). The value of the embedded derivatives on these assumed risks is determined using a methodology consistent with that described previously for the guarantees directly written by the Company.

The Company ceded to an affiliated reinsurance company the risk associated with certain of the GMIBs, GMABs and GMWBs described above that are also accounted for as embedded derivatives. In addition to ceding risks associated with guarantees that are accounted for as embedded derivatives, the Company also cedes, to the same affiliated reinsurance company, certain directly written GMIBs that are accounted for as insurance (i.e., not as embedded derivatives), but where the reinsurance agreement contains an embedded derivative. These embedded derivatives are included within premiums, reinsurance and other receivables on the consolidated balance sheets with changes in estimated fair value reported in net derivative gains (losses). The value of the embedded derivatives on the ceded risk is determined using a methodology consistent with that described previously for the guarantees directly written by the Company with the exception of the input for nonperformance risk that reflects the credit of the reinsurer.

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 previously described in “— Investments — Securities, Short-term Investments and Long-term Debt of CSEs — FVO.” The estimated fair value of these embedded derivatives is included, along with their funds withheld hosts, in other liabilities on the 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 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 Techniques 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 curve, 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 curve 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.

Reinsurance ceded on certain guaranteed minimum benefits

These embedded derivatives are principally valued using the income approach. The valuation techniques and significant market standard unobservable inputs used in their valuation are similar to those described above in “— Direct and assumed guaranteed minimum benefits” and also include counterparty credit spreads.

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 any level are assumed to occur at the beginning of the period.

Transfers between Levels 1 and 2:

For assets and liabilities measured at estimated fair value and still held at December 31, 2015 and 2014, transfers between Levels 1 and 2 were not significant.

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:



					December 31, 2015				December 31, 2014				Impact of Increase in Input on Estimated Fair Value (2)
	Valuation Techniques		Significant Unobservable Inputs		Range			Weighted Average (1)	Range			Weighted Average (1)	Impact of Increase in Input on Estimated Fair Value (2)
Fixed maturity securities (3)
U.S. corporate and foreign corporate	•	Matrix pricing	•	Delta spread adjustments (4)	(65)	-	240	49	(35)	-	240	51	Decrease
	•	Market pricing	•	Quoted prices (5)	13	-	780	314	—	-	750	418	Increase
	•	Consensus pricing	•	Offered quotes (5)	68	-	95	80	78	-	103	86	Increase
RMBS	•	Market pricing	•	Quoted prices (5)	29	-	292	93	1	-	117	107	Increase (6)
ABS	•	Market pricing	•	Quoted prices (5)	97	-	103	100	97	-	108	101	Increase (6)
	•	Consensus pricing	•	Offered quotes (5)	66	-	105	99	62	-	106	99	Increase (6)
Derivatives
Interest rate	•	Present value techniques	•	Swap yield (7)	317	-	317		278	-	297		Increase (11)
Credit	•	Present value techniques	•	Credit spreads (8)	—	-	—		99	-	99		Decrease (8)
	•	Consensus pricing	•	Offered quotes (9)
Equity market	•	Present value techniques or option pricing models	•	Volatility (10)	17%	-	36%		15%	-	27%		Increase (11)
			•	Correlation (12)	70%	-	70%		70%	-	70%
Embedded derivatives
Direct, assumed and ceded guaranteed minimum benefits	•	Option pricing techniques	•	Mortality rates:
				Ages 0 - 40	0%	-	0.09%		0%	-	0.10%		Decrease (13)
				Ages 41 - 60	0.04%	-	0.65%		0.04%	-	0.65%		Decrease (13)
				Ages 61 - 115	0.26%	-	100%		0.26%	-	100%		Decrease (13)
			•	Lapse rates:
				Durations 1 - 10	0.25%	-	100%		0.50%	-	100%		Decrease (14)
				Durations 11 - 20	3%	-	100%		3%	-	100%		Decrease (14)
				Durations 21 - 116	3%	-	100%		3%	-	100%		Decrease (14)
			•	Utilization rates	0%	-	25%		20%	-	50%		Increase (15)
			•	Withdrawal rates	0.25%	-	10%		0.07%	-	10%		(16)
			•	Long-term equity volatilities	17.40%	-	25%		17.40%	-	25%		Increase (17)
			•	Nonperformance risk spread	0.04%	-	0.52%		0.03%	-	1.39%		Decrease (18)

______________


(1)	The weighted average for fixed maturity securities is determined based on the estimated fair value of the securities.


(2)	The impact of a decrease in input would have the opposite impact on the estimated fair value. For embedded derivatives, changes to direct guaranteed minimum benefits are based on liability positions and changes to ceded guaranteed minimum benefits are based on asset positions.


(3)	Significant increases (decreases) in expected default rates in isolation would result in substantially lower (higher) valuations.


(4)	Range and weighted average are presented in basis points.


(5)	Range and weighted average are presented in accordance with the market convention for fixed maturity securities of dollars per hundred dollars of par.


(6)	Changes in the assumptions used for the probability of default is 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.

(7)

Ranges represent the rates across different yield curves and are presented in basis points. The swap yield curve is 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.


(8)	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.


(9)	At both December 31, 2015 and 2014, independent non-binding broker quotations were used in the determination of less than 1% of the total net derivative estimated fair value.


(10)	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.


(11)	Changes are based on long U.S. dollar net asset positions and will be inversely impacted for short U.S. dollar net asset positions.


(12)	Ranges 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.


(13)	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.

(14)

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.

(15)

The utilization rate assumption estimates the percentage of contract holders with a GMIB or 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.

(16)

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.


(17)	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.


(18)	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.

The following is a summary of the valuation techniques and significant unobservable inputs used in the fair value measurement of assets and liabilities classified within Level 3 that are not included in the preceding table. Generally, all other classes of securities classified within Level 3, including those within separate account assets and embedded derivatives within funds withheld related to certain ceded and assumed reinsurance, use the same valuation techniques and significant unobservable inputs as previously described for Level 3 securities. This includes matrix pricing and discounted cash flow methodologies, inputs such as quoted prices for identical or similar securities that are less liquid and based on lower levels of trading activity than securities classified in Level 2, as well as independent non-binding broker quotations. The sensitivity of the estimated fair value to changes in the significant unobservable inputs for these other assets and liabilities is similar in nature to that described in the preceding table. The valuation techniques and significant unobservable inputs used in the fair value measurement for the more significant assets measured at estimated fair value on a nonrecurring basis and determined using significant unobservable inputs (Level 3) are summarized in “— Nonrecurring Fair Value Measurements.”

The following tables summarize the change of all assets and (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
	Corporate (1)			Structured (2)			State and Political Subdivision		Foreign Government			Equity Securities			Short-term Investments			Net Derivatives (3)			Net Embedded Derivatives (4)			Separate Account Assets (5)
	(In millions)
Balance, January 1, 2014	$	2,049		$	1,005		$	—	$	—		$	131		$	—		$	(292	)	$	288		$	153
Total realized/unrealized gains (losses) included in net income (loss) (6) (7)	3			10			—		—			(2		)	—			(4		)	(957		)	(1		)
Total realized/unrealized gains (losses) included in AOCI	74			12			—		—			7			—			57			107			—
Purchases (8)	178			501			—		—			—			71			4			—			12
Sales (8)	(194		)	(277		)	—		—			(24		)	—			—			—			(9		)
Issuances (8)	—			—			—		—			—			—			—			—			—
Settlements (8)	—			—			—		—			—			—			39			215			—
Transfers into Level 3 (9)	163			25			—		—			6			—			—			—			3
Transfers out of Level 3 (9)	(208		)	(231		)	—		—			(18		)	—			—			—			—
Balance, December 31, 2014	$	2,065		$	1,045		$	—	$	—		$	100		$	71		$	(196	)	$	(347	)	$	158
Total realized/unrealized gains (losses) included in net income (loss) (6) (7)	16			21			—		—			11			—			(74		)	(228		)	(6		)
Total realized/unrealized gains (losses) included in AOCI	(113		)	(11		)	—		(3		)	(10		)	—			2			—			—
Purchases (8)	285			1,255			13		29			—			47			22			—			3
Sales (8)	(118		)	(360		)	—		—			(16		)	—			—			—			(5		)
Issuances (8)	—			—			—		—			—			—			—			—			—
Settlements (8)	—			—			—		—			—			—			14			(472		)	—
Transfers into Level 3 (9)	202			22			—		—			19			—			—			—			—
Transfers out of Level 3 (9)	(195		)	(134		)	—		—			(7		)	(71		)	—			—			(4		)
Balance, December 31, 2015	$	2,142		$	1,838		$	13	$	26		$	97		$	47		$	(232	)	$	(1,047	)	$	146
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2013 (10)	$	5		$	1		$	—	$	—		$	(5	)	$	—		$	(443	)	$	6,270		$	—
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2014 (10)	$	3		$	6		$	—	$	—		$	(1	)	$	—		$	(7	)	$	(982	)	$	—
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2015 (10)	$	11		$	21		$	—	$	—		$	—		$	—		$	(64	)	$	(241	)	$	—
Gains (Losses) Data for the year ended December 31, 2013
Total realized/unrealized gains (losses) included in net income (loss) (6) (7)	$	1		$	4		$	—	$	—		$	8		$	—		$	(466	)	$	6,309		$	6
Total realized/unrealized gains (losses) included in AOCI	$	(43	)	$	9		$	—	$	—		$	21		$	—		$	(58	)	$	292		$	—

____________


(1)	Comprised of U.S. and foreign corporate securities.


(2)	Comprised of RMBS, ABS and CMBS.


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


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


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

(6)

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). Lapses associated with net embedded derivatives are included in net derivative gains (losses). Substantially all realized/unrealized gains (losses) included in net income for net derivatives and net embedded derivatives are reported in net derivatives gains (losses).


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


(8)	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.


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


(10)	Changes in unrealized gains (losses) included in net income (loss) 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).

Fair Value Option

The following table presents information for certain assets and liabilities of CSEs, which are accounted for under the FVO. These assets and liabilities were initially measured at fair value.



	December 31,
	2015		2014
	(In millions)
Assets (1)
Unpaid principal balance	$	121	$	223
Difference between estimated fair value and unpaid principal balance	51		57
Carrying value at estimated fair value	$	172	$	280
Liabilities (1)
Contractual principal balance	$	46	$	133
Difference between estimated fair value and contractual principal balance	2		6
Carrying value at estimated fair value	$	48	$	139

______________

(1)

These assets and liabilities are comprised of commercial mortgage loans and long-term debt. Changes in estimated fair value on these assets and liabilities and gains or losses on sales of these assets are recognized in net investment gains (losses). Interest income on commercial mortgage loans held by CSEs — FVO is recognized in net investment income. Interest expense from long-term debt of CSEs — FVO is recognized in other expenses.

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). The estimated fair values for these assets were determined using significant unobservable inputs (Level 3).



	At December 31,						Years Ended December 31,
	2015		2014		2013		2015			2014			2013
	Carrying Value After Measurement						Gains (Losses)
	(In millions)
Mortgage loans (1)	$	3	$	3	$	19	$	—		$	—		$	(3	)
Other limited partnership interests (2)	$	2	$	38	$	5	$	(1	)	$	(6	)	$	(6	)
Goodwill (3)	$	—	$	—	$	—	$	—		$	(33	)	$	(66	)

______________


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

(2)

For these cost method investments, estimated fair value is determined from information provided in the financial statements of the underlying entities including NAV data. These investments include private equity and debt funds that typically invest primarily in various strategies including domestic and international leveraged buyout funds; power, energy, timber and infrastructure development funds; venture capital funds; and below investment grade debt and mezzanine debt funds. Distributions will be generated from investment gains, from operating income from the underlying investments of the funds and from liquidation of the underlying assets of the funds. It is estimated that the underlying assets of the funds will be liquidated over the next two to 10 years. Unfunded commitments for these investments at both December 31, 2015 and 2014 were not significant.

(3)

In 2014, the Company recorded an impairment of goodwill associated with the Retail Annuities reporting unit. In addition, the Company recorded impairments of goodwill associated with the Retail Life & Other and Retail Annuities reporting units in 2013. See Note 11 for additional information on the impairments. These impairments have been categorized as Level 3 due to the significant unobservable inputs used in the determination of the estimated fair value.

Fair Value of Financial Instruments Carried at Other Than Fair Value

The following tables provide fair value information for financial instruments that are carried on the balance sheet at amounts other than fair value. These tables exclude the following financial instruments: cash and cash equivalents, accrued investment income, payables for collateral under securities loaned and other transactions and those short-term investments that are not securities, such as time deposits, and therefore are not included in the three level hierarchy table disclosed in the “— Recurring Fair Value Measurements” section. The estimated fair value of the excluded financial instruments, which are primarily classified in Level 2, approximates carrying value as they are short-term in nature such that the Company believes there is minimal risk of material changes in interest rates or credit quality. All remaining balance sheet amounts excluded from the tables below are not considered financial instruments subject to this disclosure.

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:



	December 31, 2015
			Fair Value Hierarchy
	Carrying Value		Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Mortgage loans	$	7,090	$	—	$	—	$	7,386	$	7,386
Policy loans	$	1,266	$	—	$	917	$	430	$	1,347
Real estate joint ventures	$	23	$	—	$	—	$	65	$	65
Other limited partnership interests	$	52	$	—	$	—	$	57	$	57
Premiums, reinsurance and other receivables	$	6,074	$	—	$	80	$	7,163	$	7,243
Liabilities
Policyholder account balances	$	18,968	$	—	$	—	$	20,339	$	20,339
Long-term debt	$	788	$	—	$	1,070	$	—	$	1,070
Other liabilities	$	217	$	—	$	43	$	174	$	217
Separate account liabilities	$	1,275	$	—	$	1,275	$	—	$	1,275



	December 31, 2014
			Fair Value Hierarchy
	Carrying Value		Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Mortgage loans	$	5,559	$	—	$	—	$	6,020	$	6,020
Policy loans	$	1,194	$	—	$	834	$	454	$	1,288
Real estate joint ventures	$	37	$	—	$	—	$	83	$	83
Other limited partnership interests	$	63	$	—	$	—	$	81	$	81
Premiums, reinsurance and other receivables	$	6,231	$	—	$	51	$	7,156	$	7,207
Liabilities
Policyholder account balances	$	20,554	$	—	$	—	$	22,079	$	22,079
Long-term debt	$	789	$	—	$	1,120	$	—	$	1,120
Other liabilities	$	245	$	—	$	76	$	169	$	245
Separate account liabilities	$	1,432	$	—	$	1,432	$	—	$	1,432

The methods, assumptions and significant valuation techniques and inputs used to estimate the fair value of financial instruments are summarized as follows:

Mortgage Loans

The estimated fair value of mortgage loans is primarily determined by estimating expected future cash flows and discounting them using current interest rates for similar mortgage loans with similar credit risk, or is determined from pricing for similar loans.

Policy Loans

Policy loans with fixed interest rates are classified within Level 3. The estimated fair values for these loans are determined using a discounted cash flow model applied to groups of similar policy loans determined by the nature of the underlying insurance liabilities. Cash flow estimates are developed by applying a weighted-average interest rate to the outstanding principal balance of the respective group of policy loans and an estimated average maturity determined through experience studies of the past performance of policyholder repayment behavior for similar loans. These cash flows are discounted using current risk-free interest rates with no adjustment for borrower credit risk, as these loans are fully collateralized by the cash surrender value of the underlying insurance policy. Policy loans with variable interest rates are classified within Level 2 and the estimated fair value approximates carrying value due to the absence of borrower credit risk and the short time period between interest rate resets, which presents minimal risk of a material change in estimated fair value due to changes in market interest rates.

Real Estate Joint Ventures and Other Limited Partnership Interests

The estimated fair values of these cost method investments are generally based on the Company’s share of the NAV as provided in the financial statements of the investees. In certain circumstances, management may adjust the NAV by a premium or discount when it has sufficient evidence to support applying such adjustments.

Premiums, Reinsurance and Other Receivables

Premiums, reinsurance and other receivables are principally comprised of certain amounts recoverable under reinsurance agreements, amounts on deposit with financial institutions to facilitate daily settlements related to certain derivatives and amounts receivable for securities sold but not yet settled.

Amounts recoverable under ceded reinsurance agreements, which the Company has determined do not transfer significant risk such that they are accounted for using the deposit method of accounting, have been classified as Level 3. The valuation is based on discounted cash flow methodologies using significant unobservable inputs. The estimated fair value is determined using interest rates determined to reflect the appropriate credit standing of the assuming counterparty.

The amounts on deposit for derivative settlements, classified within Level 2, essentially represent the equivalent of demand deposit balances and amounts due for securities sold are generally received over short periods such that the estimated fair value approximates carrying value.

Policyholder Account Balances

These policyholder account balances include investment contracts which primarily include certain funding agreements, fixed deferred annuities, modified guaranteed annuities, fixed term payout annuities and total control accounts. The valuation of these investment contracts is based on discounted cash flow methodologies using significant unobservable inputs. The estimated fair value is determined using current market risk-free interest rates adding a spread to reflect the nonperformance risk in the liability.

Long-term Debt

The estimated fair value of long-term debt is principally determined using market standard valuation methodologies. Valuations of instruments are based primarily on quoted prices in markets that are not active or using matrix pricing that use standard market observable inputs such as quoted prices in markets that are not active and observable yields and spreads in the market. Instruments valued using discounted cash flow methodologies use standard market observable inputs including market yield curve, duration, observable prices and spreads for similar publicly traded or privately traded issues.

Other Liabilities

Other liabilities consist primarily of interest payable, amounts due for securities purchased but not yet settled and funds withheld amounts payable, which are contractually withheld by the Company in accordance with the terms of the reinsurance agreements. The Company evaluates the specific terms, facts and circumstances of each instrument to determine the appropriate estimated fair values, which are not materially different from the carrying values.

Separate Account Liabilities

Separate account liabilities represent those balances due to policyholders under contracts that are classified as investment contracts.

Separate account liabilities classified as investment contracts primarily represent variable annuities with no significant mortality risk to the Company such that the death benefit is equal to the account balance and certain contracts that provide for benefit funding.

Since separate account liabilities are fully funded by cash flows from the separate account assets which are recognized at estimated fair value as described in the section “— Recurring Fair Value Measurements,” the value of those assets approximates the estimated fair value of the related separate account liabilities. The valuation techniques and inputs for separate account liabilities are similar to those described for separate account assets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Goodwill

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

11. Goodwill

Goodwill is the excess of cost over the estimated fair value of net assets acquired. Goodwill is not amortized but is tested for impairment at least annually or more frequently if events or circumstances, such as adverse changes in the business climate, indicate that there may be justification for conducting an interim test. The goodwill impairment process requires a comparison of the estimated fair value of a reporting unit to its carrying value. The Company tests goodwill for impairment by either performing a qualitative assessment or a two-step quantitative test. The qualitative assessment is an assessment of historical information and relevant events and circumstances to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. The Company may elect not to perform the qualitative assessment for some or all of its reporting units and perform a two-step quantitative impairment test. In performing the two-step quantitative impairment test, the Company may use a market multiple valuation approach and a discounted cash flow valuation approach. For reporting units which are particularly sensitive to market assumptions, the Company may use additional valuation methodologies to estimate the reporting units’ fair values.

The market multiple valuation approach utilizes market multiples of companies with similar businesses and the projected operating earnings of the reporting unit. The discounted cash flow valuation approach requires judgments about revenues, operating earnings projections, capital market assumptions and discount rates. The key inputs, judgments and assumptions necessary in determining estimated fair value of the reporting units include projected operating earnings, current book value, the level of economic capital required to support the mix of business, long-term growth rates, comparative market multiples, control premium, the account value of in-force business, projections of new and renewal business, as well as margins on such business, the level of interest rates, credit spreads, equity market levels, and the discount rate that the Company believes is appropriate for the respective reporting unit.

The valuation methodologies utilized are subject to key judgments and assumptions that are sensitive to change. Estimates of fair value are inherently uncertain and represent only management’s reasonable expectation regarding future developments. These estimates and the judgments and assumptions upon which the estimates are based will, in all likelihood, differ in some respects from actual future results. Declines in the estimated fair value of the Company’s reporting units could result in goodwill impairments in future periods which could materially adversely affect the Company’s results of operations or financial position.

For the 2015 annual goodwill impairment test, the Company utilized the qualitative assessment for its Corporate Benefit Funding reporting unit and determined it was not more likely than not that the fair value of the reporting unit tested was less than its carrying amount, and, therefore no further testing was needed for this reporting unit.

Information regarding goodwill by segment, as well as Corporate & Other, was as follows:



	Retail			Corporate Benefit Funding			Corporate & Other (1)			Total
	(In millions)
Balance at January 1, 2013
Goodwill	$	274		$	307		$	405		$	986
Accumulated impairment	(218		)	—			(176		)	(394		)
Total goodwill, net	$	56		$	307		$	229		$	592
Impairments (2)	(23		)	—			(43		)	(66		)
Balance at December 31, 2013
Goodwill	$	274		$	307		$	405		$	986
Accumulated impairment	(241		)	—			(219		)	(460		)
Total goodwill, net	$	33		$	307		$	186		$	526
Dispositions (3)	—			(112		)	—			(112		)
Impairments	(33		)	—			—			(33		)
Balance at December 31, 2014
Goodwill	$	274		$	195		$	405		$	874
Accumulated impairment	(274		)	—			(219		)	(493		)
Total goodwill, net	$	—		$	195		$	186		$	381
Balance at December 31, 2015
Goodwill	$	274		$	195		$	405		$	874
Accumulated impairment	(274		)	—			(219		)	(493		)
Total goodwill, net	$	—		$	195		$	186		$	381

______________


(1)	For purposes of goodwill impairment testing in 2015, the $186 million of net goodwill in Corporate & Other at December 31, 2014 did not change. This balance resulted from goodwill acquired as part of the 2005 Travelers acquisition and was allocated to the Corporate Benefit Funding segment.

(2)

In connection with its annual goodwill impairment testing, the Company determined that all of the recorded goodwill associated with the Retail Life & Other reporting unit was not recoverable and recorded a non-cash charge of $66 million ($57 million, net of income tax) for the impairment of the entire goodwill balance on the consolidated statements of operations for the year ended December 31, 2013.


(3)	In connection with the sale of MAL, goodwill in the Corporate Benefit Funding reporting unit was reduced by $112 million during the year ended December 31, 2014. See Note 4. This goodwill was allocated to MAL based on the relative fair values of MAL and the remaining portion of the Corporate Benefit Funding reporting unit.

Equity

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Equity

13. Equity

See Note 3 for a discussion on the Mergers.

Common Stock

In August 2014, MetLife Insurance Company of Connecticut redeemed for $1.4 billion and retired 4,595,317 shares of its common stock owned by MetLife Investors Group LLC.

Capital Contributions

In August 2014, MetLife Insurance Company of Connecticut received a capital contribution of $231 million in cash from MetLife, Inc.

See Note 18 for information on a subsequent capital contribution.

Statutory Equity and Income

The state of domicile of MetLife Insurance Company USA imposes risk-based capital (“RBC”) requirements that were developed by the National Association of Insurance Commissioners (“NAIC”). Regulatory compliance is determined by a ratio of a company’s total adjusted capital, calculated in the manner prescribed by the NAIC (“TAC”) to its authorized control level RBC, calculated in the manner prescribed by the NAIC (“ACL RBC”), based on the statutory-based filed financial statements. Companies below specific trigger levels or ratios are classified by their respective levels, each of which requires specified corrective action. The minimum level of TAC before corrective action commences is twice ACL RBC. The RBC ratio for MetLife Insurance Company USA was in excess of 350% for all periods presented.

MetLife Insurance Company USA prepares statutory-basis financial statements in accordance with statutory accounting practices prescribed or permitted by the Delaware Department of Insurance. The NAIC has adopted the Codification of Statutory Accounting Principles (“Statutory Codification”). Statutory Codification is intended to standardize regulatory accounting and reporting to state insurance departments. However, statutory accounting principles continue to be established by individual state laws and permitted practices. Modifications by the state insurance department may impact the effect of Statutory Codification on the statutory capital and surplus of MetLife Insurance Company USA.

Statutory accounting principles differ from GAAP primarily by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions, reporting surplus notes as surplus instead of debt, reporting of reinsurance agreements and valuing securities on a different basis.

In addition, certain assets are not admitted under statutory accounting principles and are charged directly to surplus. The most significant assets not admitted by MetLife Insurance Company USA are net deferred income tax assets resulting from temporary differences between statutory accounting principles basis and tax basis not expected to reverse and become recoverable within three years.

The Delaware Department of Insurance approved two statutory accounting permitted practices for MetLife Insurance Company USA. For December 31, 2013, MetLife Insurance Company USA applied a U.S. GAAP reserving methodology for certain foreign blocks of business held by Exeter prior to the mergers into MetLife Insurance Company USA of certain of its affiliates, including Exeter, and a subsidiary. These blocks of business were recaptured by the counterparties prior to these mergers and are, therefore, not included in MetLife Insurance Company USA’s statutory reserves as of December 31, 2014. In addition, the Delaware Department of Insurance granted permission for MetLife Insurance Company USA not to calculate, record or disclose the effect of this permitted practice on statutory surplus and net income for the year ended December 31, 2013.

The tables below present amounts from MetLife Insurance Company USA, which are derived from the statutory-basis financial statements as filed with the Delaware Department of Insurance.

Statutory net income (loss) was as follows:



		Years Ended December 31,
Company	State of Domicile	2015			2014		2013
		(In millions)
MetLife Insurance Company USA	Delaware	$	(1,022	)	$	1,543	$	3,358

Statutory capital and surplus was as follows at:



	December 31,
Company	2015		2014
	(In millions)
MetLife Insurance Company USA	$	5,942	$	6,042

Dividend Restrictions

Under Delaware Insurance Code, MetLife Insurance Company USA is permitted, without prior insurance regulatory clearance, to pay a stockholder dividend to MetLife, Inc. as long as the amount of the dividend when aggregated with all other dividends in the preceding 12 months does not exceed the greater of: (i) 10% of its surplus to policyholders as of the end of the immediately preceding calendar year; or (ii) its net statutory gain from operations for the immediately preceding calendar year (excluding realized capital gains). MetLife Insurance Company USA will be permitted to pay a dividend to MetLife, Inc. in excess of the greater of such two amounts only if it files notice of the declaration of such a dividend and the amount thereof with the Delaware Commissioner and the Delaware Commissioner either approves the distribution of the dividend or does not disapprove the distribution within 30 days of its filing. In addition, any dividend that exceeds earned surplus (defined as “unassigned funds (surplus)”) as of the immediately preceding calendar year requires insurance regulatory approval. Under Delaware Insurance Code, the Delaware Commissioner has broad discretion in determining whether the financial condition of a stock life insurance company would support the payment of such dividends to its stockholders. During the year ended December 31, 2015, MetLife Insurance Company USA paid a dividend to MetLife, Inc. in the amount of $500 million. During the year ended December 31, 2014, MetLife Insurance Company USA did not pay a dividend. During the year ended December 31, 2014, prior to the Mergers, Exeter paid a dividend to MetLife, Inc. of $155 million.

Based on amounts at December 31, 2015, MetLife Insurance Company USA could pay a dividend to MetLife, Inc. in 2016 of $586 million without prior approval of the Delaware Commissioner.

Accumulated Other Comprehensive Income (Loss)

Information regarding changes in the balances of each component of AOCI was as follows:



	Unrealized Investment Gains (Losses), Net of Related Offsets (1)			Unrealized Gains (Losses) on Derivatives			Foreign Currency Translation Adjustments			Total
	(In millions)
Balance at January 1, 2012	$	2,410		$	159		$	(13	)	$	2,556
OCI before reclassifications	(2,163		)	(195		)	54			(2,304		)
Deferred income tax benefit (expense)	714			68			(2		)	780
AOCI before reclassifications, net of income tax	961			32			39			1,032
Amounts reclassified from AOCI	(69		)	(11		)	—			(80		)
Deferred income tax benefit (expense)	24			4			—			28
Amounts reclassified from AOCI, net of income tax	(45		)	(7		)	—			(52		)
Balance at December 31, 2013	916			25			39			980
OCI before reclassifications	2,301			242			(56		)	2,487
Deferred income tax benefit (expense)	(707		)	(85		)	4			(788		)
AOCI before reclassifications, net of income tax	2,510			182			(13		)	2,679
Amounts reclassified from AOCI	(28		)	2			—			(26		)
Deferred income tax benefit (expense)	8			(1		)	—			7
Amounts reclassified from AOCI, net of income tax	(20		)	1			—			(19		)
Sale of subsidiary (2)	(320		)	—			6			(314		)
Deferred income tax benefit (expense)	80			—			—			80
Sale of subsidiary, net of income tax	(240		)	—			6			(234		)
Balance at December 31, 2014	2,250			183			(7		)	2,426
OCI before reclassifications	(1,370		)	92			(28		)	(1,306		)
Deferred income tax benefit (expense)	506			(32		)	9			483
AOCI before reclassifications, net of income tax	1,386			243			(26		)	1,603
Amounts reclassified from AOCI	46			(6		)	—			40
Deferred income tax benefit (expense)	(17		)	2			—			(15		)
Amounts reclassified from AOCI, net of income tax	29			(4		)	—			25
Balance at December 31, 2015	$	1,415		$	239		$	(26	)	$	1,628

__________________


(1)	See Note 8 for information on offsets to investments related to future policy benefits, DAC, VOBA and DSI.


(2)	See Note 4.

Information regarding amounts reclassified out of each component of AOCI was as follows:



AOCI Components	Amounts Reclassified from AOCI									Consolidated Statement of Operations and Comprehensive Income (Loss) Locations
	Years Ended December 31,
	2015			2014			2013
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains(losses)	$	(48	)	$	13		$	50		Net investment gains (losses)
Net unrealized investment gains (losses)	12			11			17			Net investment income
Net unrealized investment gains (losses)	(10		)	4			2			Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	(46		)	28			69
Income tax (expense) benefit	17			(8		)	(24		)
Net unrealized investment gains (losses), net of income tax	$	(29	)	$	20		$	45
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps	$	1		$	1		$	—		Net derivative gains (losses)
Interest rate swaps	1			1			1			Net investment income
Interest rate forwards	2			1			9			Net derivative gains (losses)
Interest rate forwards	2			1			1			Net investment income
Foreign currency swaps	—			(6		)	—			Net derivative gains (losses)
Gains (losses) on cash flow hedges, before income tax	6			(2		)	11
Income tax (expense) benefit	(2		)	1			(4		)
Gains (losses) on cash flow hedges, net of income tax	$	4		$	(1	)	$	7
Total reclassifications, net of income tax	$	(25	)	$	19		$	52

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08.(d),(e))
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Other Expenses

12 Months Ended

Dec. 31, 2015

Other Income and Expenses [Abstract]

Other Expenses

14. Other Expenses

Information on other expenses was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Compensation	$	472		$	320		$	358
Commissions	650			492			700
Volume-related costs	134			170			165
Affiliated interest costs on ceded and assumed reinsurance	205			325			212
Capitalization of DAC	(325		)	(279		)	(512		)
Amortization of DAC and VOBA	595			990			205
Interest expense on debt	76			109			195
Premium taxes, licenses and fees	67			53			59
Professional services	21			58			42
Rent and related expenses	53			41			31
Other	369			475			482
Total other expenses	$	2,317		$	2,754		$	1,937

Capitalization of DAC and Amortization of DAC and VOBA

See Note 6 for additional information on DAC and VOBA including impacts of capitalization and amortization.

Interest Expense on Debt

Interest expense on debt includes interest expense on debt (see Note 12) and interest expense related to CSEs (see Note 8).

Affiliated Expenses

Commissions, capitalization of DAC and amortization of DAC and VOBA include the impact of affiliated reinsurance transactions. See Notes 7, 12 and 17 for a discussion of affiliated expenses included in the table above.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	17. 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. For certain agreements, charges are based on various performance measures or activity-based costing. The bases for such charges are modified and adjusted by management when necessary or appropriate to reflect fairly and equitably the actual incidence of cost incurred by the Company and/or affiliate. Expenses and fees incurred with affiliates related to these agreements, recorded in other expenses, were $1.6 billion, $1.6 billion and $1.7 billion for the years ended December 31, 2015, 2014 and 2013, respectively. Revenues received from affiliates related to these agreements, recorded in universal life and investment-type product policy fees, were $248 million, $266 million and $247 million for the years ended December 31, 2015, 2014 and 2013, respectively. Revenues received from affiliates related to these agreements, recorded in other revenues, were $208 million, $202 million and $211 million for the years ended December 31, 2015, 2014 and 2013, respectively. The Company had net receivables from affiliates, related to the items discussed above, of $136 million and $26 million at December 31, 2015 and 2014, respectively. See Notes 7, 8, 9 and 12 for additional information on related party transactions.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Income Tax

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Tax

15. Income Tax

The provision for income tax was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Current:
Federal	$	281		$	(364	)	$	(271	)
Foreign	—			6			8
Subtotal	281			(358		)	(263		)
Deferred:
Federal	(66		)	355			682
Foreign	—			(2		)	18
Subtotal	(66		)	353			700
Provision for income tax expense (benefit)	$	215		$	(5	)	$	437

The Company’s income (loss) before income tax expense (benefit) from domestic and foreign operations were as follows:



	Years Ended December 31,
	2015		2014			2013
	(In millions)
Income (loss):
Domestic	$	1,041	$	(174	)	$	1,724
Foreign	13		464			(146		)
Total	$	1,054	$	290		$	1,578

The reconciliation of the income tax provision at the U.S. statutory rate to the provision for income tax as reported was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Tax provision at U.S. statutory rate	$	369		$	102		$	551
Tax effect of:
Dividend received deduction	(127		)	(114		)	(93		)
Prior year tax	(4		)	(20		)	(6		)
Tax credits	(16		)	(14		)	(11		)
Foreign tax rate differential	(5		)	—			(2		)
Goodwill impairment	—			12			13
Sale of subsidiary	—			24			(24		)
Other, net	(2		)	5			9
Provision for income tax expense (benefit)	$	215		$	(5	)	$	437

Deferred income tax represents the tax effect of the differences between the book and tax bases of assets and liabilities. Net deferred income tax assets and liabilities consisted of the following at:



	December 31,
	2015			2014
	(In millions)
Deferred income tax assets:
Policyholder liabilities and receivables	$	1,638		$	1,836
Tax credit carryforwards	168			149
Other	39			40
Total deferred income tax assets	1,845			2,025
Deferred income tax liabilities:
Investments, including derivatives	132			372
Intangibles	521			519
Net unrealized investment gains	837			1,296
DAC	1,158			1,176
Total deferred income tax liabilities	2,648			3,363
Net deferred income tax asset (liability)	$	(803	)	$	(1,338	)

The following table sets forth the general business credits, foreign tax credits, and other credit carryforwards for tax purposes at December 31, 2015.



	Tax Credit Carryforwards
	General Business Credits		Foreign Tax Credits		Other
	(In millions)
Expiration
2016-2020	$	—	$	—	$	—
2021-2025	—		20		—
2026-2030	—		—		—
2031-2035	5		—		—
Indefinite	—		—		150
	$	5	$	20	$	150

The Company participates in a tax sharing agreement with MetLife, Inc., as described in Note 1. Pursuant to this tax sharing agreement, the amounts due from affiliates included $14 million, $537 million and $400 million for the years ended December 31, 2015, 2014 and 2013, respectively.

The Company files income tax returns with the U.S. federal government and various state and local jurisdictions, as well as foreign jurisdictions. The Company is under continuous examination by the Internal Revenue Service (“IRS”) and other tax authorities in jurisdictions in which the Company has significant business operations. The income tax years under examination vary by jurisdiction and subsidiary. The Company is no longer subject to U.S. federal, state or local income tax examinations for years prior to 2007, except for 2003 through 2006 where the IRS disallowance relates predominantly to tax policyholder liability deductions and the Company is engaged with IRS appeals. Management believes it has established adequate tax liabilities and final resolution of the audit for the years 2003 through 2006 is not expected to have a material impact on the Company’s financial statements.

The Company’s liability for unrecognized tax benefits may increase or decrease in the next 12 months. A reasonable estimate of the increase or decrease cannot be made at this time. However, the Company continues to believe that the ultimate resolution of the pending issues will not result in a material change to its consolidated financial statements, although the resolution of income tax matters could impact the Company’s effective tax rate for a particular future period.

A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Balance at January 1,	$	38		$	26		$	(1	)
Additions for tax positions of prior years	5			15			28
Reductions for tax positions of prior years	—			(5		)	(1		)
Additions for tax positions of current year	3			2			1
Reductions for tax positions of current year	—			—			(1		)
Settlements with tax authorities	$	(4	)	$	—		$	—
Balance at December 31,	$	42		$	38		$	26
Unrecognized tax benefits that, if recognized would impact the effective rate	$	32		$	28		$	26

The Company classifies interest accrued related to unrecognized tax benefits in interest expense, included within other expenses, while penalties are included in income tax expense.

Interest was as follows:



	Years Ended December 31,
	2015		2014		2013
	(In millions)
Interest recognized on the consolidated statements of operations	$	—	$	—	$	2

			December 31,
			2015		2014
			(In millions)
Interest included in other liabilities on the consolidated balance sheets			$	2	$	2

The Company had no penalties for the years ended December 31, 2015, 2014 and 2013.

The U.S. Treasury Department and the IRS have indicated that they intend to address through regulations the methodology to be followed in determining the dividends received deduction (“DRD”), related to variable life insurance and annuity contracts. The DRD reduces the amount of dividend income subject to tax and is a significant component of the difference between the actual tax expense and expected amount determined using the federal statutory tax rate of 35%. Any regulations that the IRS ultimately proposes for issuance in this area will be subject to public notice and comment, at which time insurance companies and other interested parties will have the opportunity to raise legal and practical questions about the content, scope and application of such regulations. As a result, the ultimate timing and substance of any such regulations are unknown at this time. For the years ended December 31, 2015, 2014 and 2013, the Company recognized an income tax benefit of $138 million, $135 million and $106 million, respectively, related to the separate account DRD. The 2015 benefit included a benefit of $12 million related to a true-up of the 2014 tax return. The 2014 and 2013 benefit included a benefit of $21 million and $13 million related to a true-up of the 2013 and 2012 tax returns, respectively.

Contingencies, Commitments and Guarantees

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Contingencies, Commitments and Guarantees

16. Contingencies, Commitments and Guarantees

Contingencies

Litigation

The Company is a defendant in a number of litigation matters. In some of the matters, large and/or indeterminate amounts, including punitive and treble damages, are sought. Modern pleading practice in the U.S. 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 actual experience of the Company 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.

Due to the vagaries of litigation, the outcome of a litigation matter and the amount or range of potential loss at particular points in time may normally be difficult to ascertain. Uncertainties can include how fact finders will evaluate documentary evidence and the credibility and effectiveness of witness testimony, and how trial and appellate courts will apply the law in the context of the pleadings or evidence presented, whether by motion practice, or at trial or on appeal. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will themselves view the relevant evidence and applicable law.

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. It is possible that some matters could require the Company to pay damages or make other expenditures or establish accruals in amounts that could not be reasonably estimated at December 31, 2015.

Matters as to Which an Estimate Can Be Made

For some loss contingency matters, the Company is able to estimate a reasonably possible range of loss. For such matters where a loss is believed to be reasonably possible, but not probable, no accrual has been made. As of December 31, 2015, the aggregate range of reasonably possible losses in excess of amounts accrued for these matters was not material for the Company.

Matters as to Which an Estimate Cannot Be Made

For other matters, 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.

Unclaimed Property Litigation

On November 14, 2012, the West Virginia Treasurer filed an action against MetLife Investors USA Insurance Company in West Virginia state court (West Virginia ex rel. John D. Perdue v. MetLife Investors USA Insurance Company, Circuit Court of Putnam County, Civil Action No. 12-C-363) alleging that MetLife Investors USA Insurance Company violated the West Virginia Uniform Unclaimed Property Act (the “Act”), seeking to compel compliance with the Act, and seeking payment of unclaimed property, interest, and penalties. On December 28, 2012, the Treasurer filed a substantially identical suit against MetLife Insurance Company of Connecticut (West Virginia ex rel. John D. Perdue v. MetLife Insurance Company of Connecticut, Circuit Court of Putnam County, Civil Action No. 12-C-430). On June 16, 2015, the West Virginia Supreme Court of Appeals reversed the Circuit Court’s order that had granted defendants’ motions to dismiss the actions and remanded them to the Circuit Court for further proceedings. MetLife Insurance Company USA, successor by merger to these defendants, intends to defend these actions vigorously.

Sales Practices Claims

Over the past several years, the Company has faced claims and regulatory inquiries and investigations, alleging improper marketing or sales of individual life insurance policies, annuities, mutual funds or other products. The Company continues to defend vigorously against the claims in these matters. The Company believes adequate provision has been made in its consolidated financial statements for all probable and reasonably estimable losses for sales practices matters.

Summary

Various litigation, claims and assessments against the Company, in addition to those discussed previously and those otherwise provided for in the Company’s 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, investor and taxpayer. Further, state insurance regulatory authorities and other federal and state authorities regularly make inquiries and conduct investigations concerning the Company’s compliance with applicable insurance and other laws and regulations.

It is not possible to predict the ultimate outcome of all pending investigations and legal proceedings. In some of the matters referred to previously, large and/or indeterminate amounts, including punitive and treble damages, are sought. Although, in light of these considerations it is possible that an adverse outcome in certain cases could have a material effect upon the Company’s financial position, based on information currently known by the Company’s management, in its opinion, the outcomes of such pending investigations and legal proceedings are not likely to have such an effect. However, 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.

Insolvency Assessments

Most of the jurisdictions in which the Company is admitted to transact business require insurers doing business within the jurisdiction to participate in guaranty associations, which are organized to pay contractual benefits owed pursuant to insurance policies issued by impaired, insolvent or failed insurers. These associations levy assessments, up to prescribed limits, on all member insurers in a particular state on the basis of the proportionate share of the premiums written by member insurers in the lines of business in which the impaired, insolvent or failed insurer engaged. Some states permit member insurers to recover assessments paid through full or partial premium tax offsets.

Assets and liabilities held for insolvency assessments were as follows:



	December 31,
	2015		2014
	(In millions)
Other Assets:
Premium tax offset for future discounted and undiscounted assessments	$	13	$	13
Premium tax offsets currently available for paid assessments	10		13
	$	23	$	26
Other Liabilities:
Insolvency assessments	$	17	$	18

Commitments

Mortgage Loan Commitments

The Company commits to lend funds under mortgage loan commitments. The amounts of these mortgage loan commitments were $124 million and $36 million at December 31, 2015 and 2014, respectively.

Commitments to Fund Partnership Investments and Private Corporate Bond Investments

The Company commits to fund partnership investments and to lend funds under private corporate bond investments. The amounts of these unfunded commitments were $1.0 billion and $918 million at December 31, 2015 and 2014, respectively.

Other Commitments

The Company has entered into collateral arrangements with affiliates, which require the transfer of collateral in connection with secured demand notes. At December 31, 2015 and 2014, the Company had agreed to fund up to $20 million and $32 million, respectively, of cash upon the request by these affiliates and had transferred collateral consisting of various securities with a fair market value of $25 million and $57 million, respectively, to custody accounts to secure the demand notes. Each of these affiliates is permitted by contract to sell or re-pledge this collateral

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 $6 million to $223 million, with a cumulative maximum of $264 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 $1 million at December 31, 2015 and 2014, respectively, for indemnities, guarantees and commitments.

Consolidated Summary of Investments - Other Than Investments in Related Parties

12 Months Ended

Dec. 31, 2015

Consolidated Summary of Investments - Other Than Investments in Related Parties [Abstract]

Consolidated Summary of Investments - Other Than Investments in Related Parties

MetLife Insurance Company USA

(A Wholly-Owned Subsidiary of MetLife, Inc.)

Schedule I

Consolidated Summary of Investments —

Other Than Investments in Related Parties

December 31, 2015

(In millions)



Types of Investments	Cost or Amortized Cost (1)		Estimated Fair Value		Amount at Which Shown on Balance Sheet
Fixed maturity securities:
Bonds:
U.S. Treasury and agency securities	$	12,562	$	13,806	$	13,806
State and political subdivision securities	2,398		2,705		2,705
Public utilities	2,207		2,343		2,343
Foreign government securities	651		745		745
All other corporate bonds	18,600		18,945		18,945
Total bonds	36,418		38,544		38,544
Mortgage-backed and asset-backed securities	13,388		13,453		13,453
Redeemable preferred stock	348		412		412
Total fixed maturity securities	50,154		52,409		52,409
Equity securities:
Common stock:
Industrial, miscellaneous and all other	161		177		177
Public utilities	4		3		3
Banks, trust and insurance companies	2		5		5
Non-redeemable preferred stock	217		224		224
Total equity securities	384		409		409
Mortgage loans held-for-investment	7,262				7,262
Policy loans	1,266				1,266
Real estate and real estate joint ventures	628				628
Other limited partnership interests	1,846				1,846
Short-term investments	1,737				1,737
Other invested assets	4,942				4,942
Total investments	$	68,219			$	70,499

______________

(1)

Cost or amortized cost for fixed maturity securities and mortgage loans held-for-investment represents original cost reduced by repayments, valuation allowances and impairments from other-than-temporary declines in estimated fair value that are charged to earnings and adjusted for amortization of premiums or accretion of discounts; for equity securities, cost represents original cost reduced by impairments from other-than-temporary declines in estimated fair value; for real estate, cost represents original cost reduced by impairments and adjusted for valuation allowances and depreciation; for real estate joint ventures and other limited partnership interests, cost represents original cost reduced for impairments or original cost adjusted for equity in earnings and distributions.

Consolidated Supplementary Insurance Information

12 Months Ended

Dec. 31, 2015

Supplementary Insurance Information [Abstract]

Consolidated Supplementary Insurance Information

MetLife Insurance Company USA

(A Wholly-Owned Subsidiary of MetLife, Inc.)

Schedule III

Consolidated Supplementary Insurance Information

December 31, 2015, 2014 and 2013

(In millions)



Segment	DAC and VOBA		Future Policy Benefits and Other Policy-Related Balances		Policyholder Account Balances		Unearned Premiums (1), (2)		Unearned Revenue (1)
2015
Retail	$	4,694	$	16,164	$	29,789	$	12	$	175
Corporate Benefit Funding	6		10,115		5,870		—		13
Corporate & Other	109		7,164		2		6		—
Total	$	4,809	$	33,443	$	35,661	$	18	$	188
2014
Retail	$	4,824	$	14,184	$	28,790	$	9	$	203
Corporate Benefit Funding	5		10,849		6,695		—		1
Corporate & Other	61		6,766		1		5		—
Total	$	4,890	$	31,799	$	35,486	$	14	$	204
2013
Retail	$	5,659	$	13,156	$	27,864	$	9	$	286
Corporate Benefit Funding	6		14,270		8,357		—		2
Corporate & Other	26		7,307		1,168		4		—
Total	$	5,691	$	34,733	$	37,389	$	13	$	288

______________


(1)	Amounts are included within the future policy benefits and other policy-related balances column.


(2)	Includes premiums received in advance.

MetLife Insurance Company USA

(A Wholly-Owned Subsidiary of MetLife, Inc.)

Schedule III

Consolidated Supplementary Insurance Information — (continued)

December 31, 2015, 2014 and 2013

(In millions)



Segment	Premiums and Universal Life and Investment-Type Product Policy Fees		Net Investment Income			Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances		Amortization of DAC and VOBA Charged to Other Expenses		Other Operating Expenses (1)
2015
Retail	$	4,055	$	1,863		$	3,006	$	571	$	1,503
Corporate Benefit Funding	70		804			521		1		45
Corporate & Other	248		(52		)	206		23		174
Total	$	4,373	$	2,615		$	3,733	$	595	$	1,722
2014
Retail	$	4,094	$	1,845		$	3,168	$	966	$	1,520
Corporate Benefit Funding	9		908			603		2		42
Corporate & Other	242		(84		)	55		22		202
Total	$	4,345	$	2,669		$	3,826	$	990	$	1,764
2013
Retail	$	3,385	$	1,784		$	3,444	$	199	$	1,454
Corporate Benefit Funding	219		1,119			858		5		38
Corporate & Other	215		96			13		1		240
Total	$	3,819	$	2,999		$	4,315	$	205	$	1,732

______________


(1)	Includes other expenses, excluding amortization of DAC and VOBA charged to other expenses.

See Note 2 of the Notes to the Consolidated Financial Statements for information on certain segment reporting changes during the first quarter of 2015, which were retrospectively applied.

Consolidated Reinsurance

12 Months Ended

Dec. 31, 2015

Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]

Consolidated Reinsurance

MetLife Insurance Company USA

(A Wholly-Owned Subsidiary of MetLife, Inc.)

Schedule IV

Consolidated Reinsurance

December 31, 2015, 2014 and 2013

(In millions)



	Gross Amount		Ceded		Assumed		Net Amount		% Amount Assumed to Net
2015
Life insurance in-force	$	538,086	$	497,017	$	94,863	$	135,932	69.8	%
Insurance premium
Life insurance (1)	$	2,046	$	916	$	288	$	1,418	20.3	%
Accident & health insurance	235		229		9		15		60.0	%
Total insurance premium	$	2,281	$	1,145	$	297	$	1,433	20.7	%
2014
Life insurance in-force	$	489,194	$	450,342	$	52,728	$	91,580	57.6	%
Insurance premium
Life insurance (1)	$	1,995	$	943	$	94	$	1,146	8.2	%
Accident & health insurance	231		225		—		6		0.0	%
Total insurance premium	$	2,226	$	1,168	$	94	$	1,152	8.2	%
2013
Life insurance in-force	$	467,458	$	428,842	$	10,931	$	49,547	22.1	%
Insurance premium
Life insurance (1)	$	1,356	$	746	$	73	$	683	10.6	%
Accident & health insurance	234		228		—		6		0.0	%
Total insurance premium	$	1,590	$	974	$	73	$	689	10.6	%

______________


(1)	Includes annuities with life contingencies.

For the year ended December 31, 2015, reinsurance ceded and assumed included affiliated transactions for life insurance in-force of $321.0 billion and $86.4 billion, respectively, and life insurance premiums of $783 million and $227 million, respectively. For the year ended December 31, 2014, reinsurance ceded and assumed included affiliated transactions for life insurance in-force of $292.0 billion and $50.2 billion, respectively, and life insurance premiums of $830 million and $55 million, respectively. For the year ended December 31, 2013, reinsurance ceded and assumed included affiliated transactions for life insurance in-force of $270.0 billion and $10.0 billion, respectively, and life insurance premiums of $638 million and $28 million, respectively.

Subsequent Events Subsequent Events	12 Months Ended
Subsequent Events Subsequent Events	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events Sales Distribution Services On February 28, 2016, MetLife, Inc. entered into a purchase agreement with Massachusetts Mutual Life Insurance Company (“MassMutual”) pursuant to which MassMutual will acquire MetLife’s U.S. Retail advisor force, the MetLife Premier Client Group, together with its affiliated broker-dealer, MetLife Securities, Inc., a wholly-owned subsidiary of MetLife, Inc., and certain related assets. As part of the transaction, MetLife, Inc. and MassMutual have also agreed to enter into a product development agreement under which MetLife’s U.S. Retail business will be the exclusive developer of certain annuity products to be issued by MassMutual. The transaction is subject to certain closing conditions, including regulatory approval. Capital Contribution On February 24, 2016, MetLife USA received a capital contribution of $1.5 billion in cash from MetLife, Inc. The Separation On January 12, 2016, MetLife, Inc. announced its plan to pursue the Separation. MetLife is currently evaluating structural alternatives for the proposed Separation, including a public offering of shares in an independent, publicly traded company, a spin-off, or a sale. The completion of a public offering would depend on, among other things, the U.S. Securities and Exchange Commission (“SEC”) filing and review process, as well as market conditions. Any Separation that might occur will be subject to the satisfaction of various conditions and approvals, including approval of any transaction by the MetLife, Inc. Board of Directors, satisfaction of any applicable requirements of the SEC, and receipt of insurance and other regulatory approvals and other anticipated conditions.

Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Use of Estimates

Consolidation of Subsidiaries

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.

Discontinued Operations

Separate Accounts


•	such separate accounts are legally recognized;


•	assets supporting the contract liabilities are legally insulated from the Company’s general account liabilities;


•	investments are directed by the contractholder; and


•	all investment performance, net of contract fees and assessments, is passed through to the contractholder.

Future Policy Benefit Liabilities and Policyholder Account Balances

Policyholder account balances relate to contracts or contract features where the Company has no significant insurance risk.

Future policy benefits are measured as follows:



Product Type:		Measurement Assumptions:
Participating life		Aggregate of (i) net level premium reserves for death and endowment policy benefits (calculated based upon the non-forfeiture interest rate of 4%, and mortality rates guaranteed in calculating the cash surrender values described in such contracts); and (ii) the liability for terminal dividends.
Nonparticipating life		Aggregate of the present value of expected future benefit payments and related expenses less the present value of expected future net premiums. Assumptions as to mortality and persistency are based upon the Company’s experience when the basis of the liability is established. Interest rate assumptions for the aggregate future policy benefit liabilities range from 3% to 8%.
Individual and group traditional fixed annuities after annuitization		Present value of expected future payments. Interest rate assumptions used in establishing such liabilities range from 3% to 8%.
Non-medical health insurance		The net level premium method and assumptions as to future morbidity, withdrawals and interest, which provide a margin for adverse deviation. Interest rate assumptions used in establishing such liabilities range from 4% to 7%.
Disabled lives		Present value of benefits method and experience assumptions as to claim terminations, expenses and interest. Interest rate assumptions used in establishing such liabilities range from 3% to 6%.

Variable Annuity Guaranteed Minimum Benefits



Guarantee:			Measurement Assumptions:
GMDBs	•	A return of purchase payment upon death even if the account value is reduced to zero.	•	Present value of expected death benefits in excess of the projected account balance recognizing the excess ratably over the accumulation period based on the present value of total expected assessments.
	•	An enhanced death benefit may be available for an additional fee.	•	Assumptions are consistent with those used for amortizing DAC, and are thus subject to the same variability and risk.
			•	Investment performance and volatility assumptions are consistent with the historical experience of the appropriate underlying equity index, such as the S&P 500 Index.
			•	Benefit assumptions are based on the average benefits payable over a range of scenarios.
GMIBs	•	After a specified period of time determined at the time of issuance of the variable annuity contract, a minimum accumulation of purchase payments, even if the account value is reduced to zero, that can be annuitized to receive a monthly income stream that is not less than a specified amount.	•	Present value of expected income benefits in excess of the projected account balance at any future date of annuitization and recognizing the excess ratably over the accumulation period based on present value of total expected assessments.
	•	Certain contracts also provide for a guaranteed lump sum return of purchase premium in lieu of the annuitization benefit.	•	Assumptions are consistent with those used for estimating GMDB liabilities.
			•	Calculation incorporates an assumption for the percentage of the potential annuitizations that may be elected by the contractholder.
GMWBs	•	A return of purchase payment via partial withdrawals, even if the account value is reduced to zero, provided that cumulative withdrawals in a contract year do not exceed a certain limit.	•	Expected value of the life contingent payments and expected assessments using assumptions consistent with those used for estimating the GMDB liabilities.
	•	Certain contracts include guaranteed withdrawals that are life contingent.

Embedded Derivatives

Other Policy-Related Balances

Other policy-related balances primarily include assumed affiliated reinsurance payables, affiliated deferred experience refunds, policy and contract claims and unearned revenue liabilities.

The assumed affiliated reinsurance payable relates primarily to reinsurance for certain universal life business assumed from an affiliate, net of other reinsurance.

Recognition of Insurance Revenues and Deposits

Premiums related to non-medical health and disability contracts are recognized on a pro rata basis over the applicable contract term.

Premiums, policy fees, policyholder benefits and expenses are presented net of reinsurance.

Deferred Policy Acquisition Costs and Value of Business Acquired

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles


•	incremental direct costs of contract acquisition, such as commissions;


•	the portion of an employee’s total compensation and benefits related to time spent selling, underwriting or processing the issuance of new and renewal insurance business only with respect to actual policies acquired or renewed;


•	other essential direct costs that would not have been incurred had a policy not been acquired or renewed; and


•	the costs of direct-response advertising, the primary purpose of which is to elicit sales to customers who could be shown to have responded specifically to the advertising and that results in probable future benefits.

DAC and VOBA are amortized as follows:



Products:		In proportion to the following over estimated lives of the contracts:
•	Nonparticipating and non-dividend-paying traditional contracts (primarily term insurance)		Actual and expected future gross premiums.
•	Participating, dividend-paying traditional contracts		Actual and expected future gross margins.
•	Fixed and variable universal life contracts		Actual and expected future gross profits.
•	Fixed and variable deferred annuity contracts

See Note 6 for additional information on DAC and VOBA amortization. Amortization of DAC and VOBA is included in other expenses.

The recovery of DAC and VOBA is dependent upon the future profitability of the related business. DAC and VOBA are aggregated in the financial statements for reporting purposes.

Nonparticipating and Non-Dividend-Paying Traditional Contracts

Participating, Dividend-Paying Traditional Contracts

Fixed and Variable Universal Life Contracts and Fixed and Variable Deferred Annuity Contracts

Factors Impacting Amortization

Deferred Policy Acquisition Costs and Value of Business Acquired

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles


•	incremental direct costs of contract acquisition, such as commissions;


•	the portion of an employee’s total compensation and benefits related to time spent selling, underwriting or processing the issuance of new and renewal insurance business only with respect to actual policies acquired or renewed;


•	other essential direct costs that would not have been incurred had a policy not been acquired or renewed; and


•	the costs of direct-response advertising, the primary purpose of which is to elicit sales to customers who could be shown to have responded specifically to the advertising and that results in probable future benefits.

DAC and VOBA are amortized as follows:



Products:		In proportion to the following over estimated lives of the contracts:
•	Nonparticipating and non-dividend-paying traditional contracts (primarily term insurance)		Actual and expected future gross premiums.
•	Participating, dividend-paying traditional contracts		Actual and expected future gross margins.
•	Fixed and variable universal life contracts		Actual and expected future gross profits.
•	Fixed and variable deferred annuity contracts

See Note 6 for additional information on DAC and VOBA amortization. Amortization of DAC and VOBA is included in other expenses.

The recovery of DAC and VOBA is dependent upon the future profitability of the related business. DAC and VOBA are aggregated in the financial statements for reporting purposes.

Nonparticipating and Non-Dividend-Paying Traditional Contracts

Participating, Dividend-Paying Traditional Contracts

Fixed and Variable Universal Life Contracts and Fixed and Variable Deferred Annuity Contracts

Factors Impacting Amortization

Deferred Sales Inducements

Value of Distribution Agreements and Customer Relationships Acquired

Reinsurance

Investments

Net Investment Income and Net Investment Gains (Losses)

Fixed Maturity and Equity Securities

Mortgage Loans

Policy Loans

Real Estate

Real Estate Joint Ventures and Other Limited Partnership Interests

Short-term Investments

Other Invested Assets

Other invested assets consist principally of the following:


•	Freestanding derivatives with positive estimated fair values which are described in “— Derivatives” below.


•	Funds withheld which represent a receivable for amounts contractually withheld by ceding companies in accordance with reinsurance agreements. The Company recognizes interest on funds withheld at rates defined by the terms of the agreement which may be contractually specified or directly related to the underlying investments.


•	Investments in an operating joint venture that engages in insurance underwriting activities which are accounted for under the equity method.


•	Tax credit and renewable energy partnerships which derive a significant source of investment return in the form of income tax credits or other tax incentives. Where tax credits are guaranteed by a creditworthy third party, the investment is accounted for under the effective yield method. Otherwise, the investment is accounted for under the equity method.


•	Leveraged leases which are recorded net of non-recourse debt. Income is recognized by applying the leveraged lease’s estimated rate of return to the net investment in the lease. The Company regularly reviews residual values for impairment.

Securities Lending Program

Investment Risks and Uncertainties

Maturities of Fixed Maturity Securities

Evaluation and Measurement Methodologies

The methodology and significant inputs used to determine the amount of credit loss on fixed maturity securities 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 prior to impairment.

•

Past Due and Interest Accrual Status of Mortgage Loans

Valuation Allowance Methodology

Commercial and Agricultural Mortgage Loan Portfolio Segments

Mortgage Loans Modified in a Troubled Debt Restructuring

The Company defines delinquency consistent with industry practice, when mortgage loans are past due as follows: commercial and residential mortgage loans — 60 days and agricultural mortgage loans — 90 days.

For rental receivables, the primary credit quality indicator is whether the rental receivable is performing or nonperforming, which is assessed monthly. The Company generally defines nonperforming rental receivables as those that are 90 days or more past due.

Leveraged Leases

Purchased Credit Impaired Investments

Variable Interest Entities

Derivatives

Freestanding Derivatives



Statement of Operations Presentation:	Derivative:
Policyholder benefits and claims	•	Economic hedges of variable annuity guarantees included in future policy benefits
Net investment income	•	Economic hedges of equity method investments in joint ventures

Hedge Accounting


•	Fair value hedge (a hedge of the estimated fair value of a recognized asset or liability) - in net derivative gains (losses), consistent with the change in estimated fair value of the hedged item attributable to the designated risk being hedged.

•

Embedded Derivatives


•	the combined instrument is not accounted for in its entirety at estimated fair value with changes in estimated fair value recorded in earnings;


•	the terms of the embedded derivative are not clearly and closely related to the economic characteristics of the host contract; and


•	a separate instrument with the same terms as the embedded derivative would qualify as a derivative instrument.

Fair Value



Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities. The Company defines active markets based on average trading volume for equity securities. The size of the bid/ask spread is used as an indicator of market activity for fixed maturity securities.



Level 2	Quoted prices in markets that are not active or inputs that are observable either directly or indirectly. These inputs can include quoted prices for similar assets or liabilities other than quoted prices in Level 1, quoted prices in markets that are not active, or other significant inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.



Level 3	Unobservable inputs that are supported by little or no market activity and are significant to the determination of estimated fair value of the assets or liabilities. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability.

Goodwill

Employee Benefit Plans

Income Tax

The Company’s accounting for income taxes represents management’s best estimate of various events and transactions.


•	the nature, frequency, and amount of cumulative financial reporting income and losses in recent years;


•	the jurisdiction in which the deferred tax asset was generated;


•	the length of time that carryforward can be utilized in the various taxing jurisdiction;


•	future taxable income exclusive of reversing temporary differences and carryforwards;


•	future reversals of existing taxable temporary differences;


•	taxable income in prior carryback years; and


•	tax planning strategies.

The Company classifies interest recognized as interest expense and penalties recognized as a component of income tax expense.

Litigation Contingencies

Cash and Cash Equivalents

Property, Equipment, Leasehold Improvements and Computer Software

Other Revenues

Other revenues primarily include, in addition to items described elsewhere herein, fee income on financial reinsurance agreements and broker-dealer fees.

Foreign Currency

Segment Information (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Reporting Information, by Segment



	Operating Results
Year Ended December 31, 2015	Retail			Corporate Benefit Funding			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	1,170		$	15		$	248		$	1,433		$	—		$	1,433
Universal life and investment-type product policy fees	2,619			55			—			2,674			266			2,940
Net investment income	2,043			858			(60		)	2,841			(226		)	2,615
Other revenues	499			5			—			504			—			504
Net investment gains (losses)	—			—			—			—			36			36
Net derivative gains (losses)	—			—			—			—			(424		)	(424		)
Total revenues	6,331			933			188			7,452			(348		)	7,104
Expenses
Policyholder benefits and claims	1,770			414			206			2,390			306			2,696
Interest credited to policyholder account balances	927			107			—			1,034			3			1,037
Goodwill impairment	—			—			—			—			—			—
Capitalization of DAC	(252		)	(1		)	(72		)	(325		)	—			(325		)
Amortization of DAC and VOBA	643			1			23			667			(72		)	595
Interest expense on debt	—			—			68			68			8			76
Other expenses	1,755			46			170			1,971			—			1,971
Total expenses	4,843			567			395			5,805			245			6,050
Provision for income tax expense (benefit)	386			126			(89		)	423			(208		)	215
Operating earnings	$	1,102		$	240		$	(118	)	1,224
Adjustments to:
Total revenues										(348		)
Total expenses										(245		)
Provision for income tax (expense) benefit										208
Net income (loss)										$	839					$	839



At December 31, 2015	Retail		Corporate Benefit Funding		Corporate &Other		Total
	(In millions)
Total assets	$	167,142	$	25,043	$	10,177	$	202,362
Separate account assets	$	98,502	$	3,233	$	—	$	101,735
Separate account liabilities	$	98,502	$	3,233	$	—	$	101,735



	Operating Results
Year Ended December 31, 2014	Retail			Corporate Benefit Funding (1)			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	1,080		$	(26	)	$	96		$	1,150		$	2		$	1,152
Universal life and investment-type product policy fees	2,700			33			146			2,879			314			3,193
Net investment income	1,960			896			(109		)	2,747			(78		)	2,669
Other revenues	532			5			1			538			1			539
Net investment gains (losses)	—			—			—			—			(469		)	(469		)
Net derivative gains (losses)	—			—			—			—			(181		)	(181		)
Total revenues	6,272			908			134			7,314			(411		)	6,903
Expenses
Policyholder benefits and claims	1,768			390			55			2,213			551			2,764
Interest credited to policyholder account balances	943			116			—			1,059			3			1,062
Goodwill impairment	—			—			—			—			33			33
Capitalization of DAC	(221		)	(1		)	(57		)	(279		)	—			(279		)
Amortization of DAC and VOBA	678			2			22			702			288			990
Interest expense on debt	5			—			68			73			36			109
Other expenses	1,736			31			155			1,922			12			1,934
Total expenses	4,909			538			243			5,690			923			6,613
Provision for income tax expense (benefit)	341			125			(46		)	420			(425		)	(5		)
Operating earnings	$	1,022		$	245		$	(63	)	1,204
Adjustments to:
Total revenues										(411		)
Total expenses										(923		)
Provision for income tax (expense) benefit										425
Net income (loss)										$	295					$	295

____________


(1)	Premiums and policyholder benefits and claims both include ($87) million of ceded reinsurance with MLIC related to merger transactions. See Notes 3 and 7.



At December 31, 2014	Retail		Corporate Benefit Funding		Corporate & Other		Total
	(In millions)
Total assets	$	173,657	$	25,312	$	6,894	$	205,863
Separate account assets	$	106,667	$	2,194	$	—	$	108,861
Separate account liabilities	$	106,667	$	2,194	$	—	$	108,861



	Operating Results
Year Ended December 31, 2013	Retail			Corporate Benefit Funding			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	469		$	92		$	36		$	597		$	92		$	689
Universal life and investment-type product policy fees	2,648			35			179			2,862			268			3,130
Net investment income	1,897			982			(9		)	2,870			129			2,999
Other revenues	605			5			—			610			—			610
Net investment gains (losses)	—			—			—			—			27			27
Net derivative gains (losses)	—			—			—			—			441			441
Total revenues	5,619			1,114			206			6,939			957			7,896
Expenses
Policyholder benefits and claims	1,087			527			13			1,627			1,520			3,147
Interest credited to policyholder account balances	1,034			139			—			1,173			(5		)	1,168
Goodwill impairment	—			—			—			—			66			66
Capitalization of DAC	(483		)	(2		)	(27		)	(512		)	—			(512		)
Amortization of DAC and VOBA	586			5			1			592			(387		)	205
Interest expense on debt	5			—			68			73			122			195
Other expenses	1,932			21			77			2,030			19			2,049
Total expenses	4,161			690			132			4,983			1,335			6,318
Provision for income tax expense (benefit)	441			147			24			612			(175		)	437
Operating earnings	$	1,017		$	277		$	50		1,344
Adjustments to:
Total revenues										957
Total expenses										(1,335		)
Provision for income tax (expense) benefit										175
Net income (loss)										$	1,141					$	1,141

Premiums, Universal Life and Investment-Type Policy Fees and Other Revenue by Product Groups for Reportable Segment



	Years Ended December 31,
	2015		2014		2013
	(In millions)
Annuities	$	3,568	$	3,926	$	3,486
Life insurance	1,176		953		937
Accident & health insurance	133		5		6
Total	$	4,877	$	4,884	$	4,429

Insurance (Tables)

12 Months Ended

Dec. 31, 2015

Insurance [Abstract]

Schedule of Federal Home Loan Bank, Common Stock Holdings, by Branch of Federal Home Loan Bank [Table Text Block]



	December 31,
	2015		2014
	(In millions)
FHLB of Pittsburgh	$	85	$	24
FHLB of Boston	$	36	$	55
FHLB of Des Moines	$	4	$	16

Schedule of Liability Recorded and Collateral Pledged for Funding Agreements [Table Text Block]



	Liability				Collateral
	December 31,
	2015		2014		2015			2014
	(In millions)
FHLB of Pittsburgh (1)	$	1,570	$	185	$	1,789	(2)	$	1,154	(2)
FHLB of Boston (1)	$	250	$	575	$	311	(2)	$	666	(2)
FHLB of Des Moines (1)	$	95	$	405	$	147	(2)	$	546	(2)
Farmer Mac (3)	$	—	$	200	$	—		$	231

______________

(1)


(2)	Advances are collateralized by mortgage-backed securities. The amount of collateral presented is at estimated fair value.

(3)

Insurance Liabilities

Information regarding insurance liabilities by segment, as well as Corporate & Other, was as follows at:



	December 31,
	2015		2014
	(In millions)
Retail	$	45,953	$	42,974
Corporate Benefit Funding	15,985		17,544
Corporate & Other	7,166		6,767
Total	$	69,104	$	67,285

Liabilities for Guarantees

Information regarding the liabilities for guarantees (excluding base policy liabilities and embedded derivatives) relating to annuity and universal and variable life contracts was as follows:



	Annuity Contracts						Universal and Variable Life Contracts
	GMDBs			GMIBs			Secondary Guarantees		Total
	(In millions)
Direct
Balance at January 1, 2013	$	260		$	1,027		$	1,368	$	2,655
Incurred guaranteed benefits	166			128			416		710
Paid guaranteed benefits	(22		)	—			—		(22		)
Balance at December 31, 2013	404			1,155			1,784		3,343
Incurred guaranteed benefits (1)	231			285			590		1,106
Paid guaranteed benefits	(24		)	—			—		(24		)
Balance at December 31, 2014	611			1,440			2,374		4,425
Incurred guaranteed benefits	248			317			413		978
Paid guaranteed benefits	(36		)	—			—		(36		)
Balance at December 31, 2015	$	823		$	1,757		$	2,787	$	5,367
Net Ceded/(Assumed)
Balance at January 1, 2013	$	(218	)	$	(134	)	$	985	$	633
Incurred guaranteed benefits	(26		)	(21		)	327		280
Paid guaranteed benefits	39			—			—		39
Balance at December 31, 2013	(205		)	(155		)	1,312		952
Incurred guaranteed benefits (1)	175			98			477		750
Paid guaranteed benefits	1			—			—		1
Balance at December 31, 2014	(29		)	(57		)	1,789		1,703
Incurred guaranteed benefits	19			(9		)	362		372
Paid guaranteed benefits	(33		)	—			—		(33		)
Balance at December 31, 2015	$	(43	)	$	(66	)	$	2,151	$	2,042
Net
Balance at January 1, 2013	$	478		$	1,161		$	383	$	2,022
Incurred guaranteed benefits	192			149			89		430
Paid guaranteed benefits	(61		)	—			—		(61		)
Balance at December 31, 2013	609			1,310			472		2,391
Incurred guaranteed benefits (1)	56			187			113		356
Paid guaranteed benefits	(25		)	—			—		(25		)
Balance at December 31, 2014	640			1,497			585		2,722
Incurred guaranteed benefits	229			326			51		606
Paid guaranteed benefits	(3		)	—			—		(3		)
Balance at December 31, 2015	$	866		$	1,823		$	636	$	3,325

______________


(1)	See Note 7.

Fund Groupings

Account balances of contracts with guarantees were invested in separate account asset classes as follows at:



	December 31,
	2015		2014
	(In millions)
Fund Groupings:
Balanced	$	49,870	$	55,287
Equity	41,269		43,430
Bond	4,802		5,226
Money Market	768		801
Total	$	96,709	$	104,744

Information regarding the Company’s guarantee exposure was as follows at:



	December 31,
	2015						2014
	In the Event of Death			At Annuitization			In the Event of Death			At Annuitization
	(In millions)
Annuity Contracts (1), (2)
Variable Annuity Guarantees
Total account value (3)	$	103,830		$	58,615		$	112,298		$	64,550
Separate account value	$	98,897		$	57,284		$	107,261		$	63,206
Net amount at risk	$	8,168	(4)	$	2,088	(5)	$	3,151	(4)	$	1,297	(5)
Average attained age of contractholders	66 years			66 years			65 years			65 years



	December 31,
	2015		2014
	Secondary Guarantees
	(In millions)
Universal and Variable Life Contracts (1)
Total account value (3)	$	6,919	$	6,702
Net amount at risk (6)	$	90,940	$	91,204
Average attained age of policyholders	59 years		59 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 direct business, but excludes offsets from hedging or reinsurance, if any. See Note 7 for a discussion of certain living and death benefit guarantees which have been reinsured. Therefore, the NARs presented reflect the economic exposures of living and death benefit guarantees associated with variable annuities, but not necessarily their impact on the Company.


(3)	Includes the contractholder’s investments in the general account and separate account, if applicable.


(4)	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.

(5)


(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.

Schedule of Liability Recorded and Collateral Pledged for Funding Agreements

Invested assets on deposit, held in trust 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:



	December 31,
	2015		2014
	(In millions)
Invested assets on deposit (regulatory deposits) (1)	$	7,245	$	7,334
Invested assets held in trust (reinsurance agreements) (2)	952		936
Invested assets pledged as collateral (3)	2,801		3,174
Total invested assets on deposit, held in trust, and pledged as collateral	$	10,998	$	11,444

______________


(1)	See Note 3 for information about invested assets that became restricted in 2014 in connection with MetLife Insurance Company of Connecticut’s withdrawal of its New York license.


(2)	The Company has held in trust certain investments, primarily fixed maturity securities, in connection with certain reinsurance transactions.


(3)	The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Note 5) and derivative transactions (see Note 9).

Liabilities for Unpaid Claims and Claim Expenses



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Balance at January 1,	$	1,483		$	1,325		$	1,216
Less: Reinsurance recoverables	1,400			1,235			1,124
Net balance at January 1,	83			90			92
Incurred related to:
Current year	105			3			5
Prior years	—			2			4
Total incurred	105			5			9
Paid related to:
Current year	(30		)	—			—
Prior years	(10		)	(12		)	(11		)
Total paid	(40		)	(12		)	(11		)
Net balance at December 31,	148			83			90
Add: Reinsurance recoverables	1,545			1,400			1,235
Balance at December 31,	$	1,693		$	1,483		$	1,325

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (Tables)

12 Months Ended

Dec. 31, 2015

Deferred Policy Acquisition Costs and Value of Business Acquired [Abstract]

Schedule of Deferred Policy Acquisition Costs and Value of Business Acquired

Information regarding DAC and VOBA was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
DAC
Balance at January 1,	$	4,162		$	4,795		$	4,086
Capitalizations	325			279			512
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	188			(152		)	219
Other expenses	(639		)	(699		)	(287		)
Total amortization	(451		)	(851		)	(68		)
Unrealized investment gains (losses)	95			(61		)	83
Other (1)	—			—			182
Balance at December 31,	4,131			4,162			4,795
VOBA
Balance at January 1,	728			896			718
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	(19		)	(1		)	5
Other expenses	(125		)	(138		)	(142		)
Total amortization	(144		)	(139		)	(137		)
Unrealized investment gains (losses)	94			(29		)	315
Balance at December 31,	678			728			896
Total DAC and VOBA
Balance at December 31,	$	4,809		$	4,890		$	5,691

______________

(1)

Schedule of Deferred Policy Acquisition Costs and Value of Business Acquired

Information regarding DAC and VOBA was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
DAC
Balance at January 1,	$	4,162		$	4,795		$	4,086
Capitalizations	325			279			512
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	188			(152		)	219
Other expenses	(639		)	(699		)	(287		)
Total amortization	(451		)	(851		)	(68		)
Unrealized investment gains (losses)	95			(61		)	83
Other (1)	—			—			182
Balance at December 31,	4,131			4,162			4,795
VOBA
Balance at January 1,	728			896			718
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	(19		)	(1		)	5
Other expenses	(125		)	(138		)	(142		)
Total amortization	(144		)	(139		)	(137		)
Unrealized investment gains (losses)	94			(29		)	315
Balance at December 31,	678			728			896
Total DAC and VOBA
Balance at December 31,	$	4,809		$	4,890		$	5,691

______________

(1)

Information Regarding Deferred Policy Acquisition Costs and Value of Business Acquired by Segment

Information regarding total DAC and VOBA by segment, as well as Corporate & Other, was as follows at:



	December 31,
	2015		2014
	(In millions)
Retail	$	4,694	$	4,824
Corporate Benefit Funding	6		5
Corporate & Other	109		61
Total	$	4,809	$	4,890

Deferred Sales Inducements

Information regarding other intangibles was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
DSI
Balance at January 1,	$	522		$	619		$	633
Capitalization	3			4			6
Amortization	(64		)	(73		)	(20		)
Unrealized investment gains (losses)	17			(28		)	—
Balance at December 31,	$	478		$	522		$	619
VODA and VOCRA
Balance at January 1,	$	142		$	159		$	175
Amortization	(17		)	(17		)	(16		)
Balance at December 31,	$	125		$	142		$	159
Accumulated amortization	$	115		$	98		$	81

Value of Distribution Agreements and Customer Relationships Acquired

Information regarding other intangibles was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
DSI
Balance at January 1,	$	522		$	619		$	633
Capitalization	3			4			6
Amortization	(64		)	(73		)	(20		)
Unrealized investment gains (losses)	17			(28		)	—
Balance at December 31,	$	478		$	522		$	619
VODA and VOCRA
Balance at January 1,	$	142		$	159		$	175
Amortization	(17		)	(17		)	(16		)
Balance at December 31,	$	125		$	142		$	159
Accumulated amortization	$	115		$	98		$	81

Estimated Future Amortization Expense

The estimated future amortization expense to be reported in other expenses for the next five years is as follows:



	VOBA		VODA and VOCRA
	(In millions)
2016	$	122	$	12
2017	$	100	$	11
2018	$	83	$	10
2019	$	69	$	9
2020	$	54	$	8

Reinsurance (Tables)

12 Months Ended

Dec. 31, 2015

Reinsurance Disclosure [Line Items]

Effects of reinsurance

The amounts on the consolidated statements of operations include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Premiums
Direct premiums	$	2,281		$	2,226		$	1,590
Reinsurance assumed	297			94			73
Reinsurance ceded	(1,145		)	(1,168		)	(974		)
Net premiums	$	1,433		$	1,152		$	689
Universal life and investment-type product policy fees
Direct universal life and investment-type product policy fees	$	3,607		$	3,610		$	3,492
Reinsurance assumed	142			398			398
Reinsurance ceded	(809		)	(815		)	(760		)
Net universal life and investment-type product policy fees	$	2,940		$	3,193		$	3,130
Other revenues
Direct other revenues	$	258		$	259		$	284
Reinsurance assumed	—			28			1
Reinsurance ceded	246			252			325
Net other revenues	$	504		$	539		$	610
Policyholder benefits and claims
Direct policyholder benefits and claims	$	4,807		$	4,797		$	4,693
Reinsurance assumed	305			263			149
Reinsurance ceded	(2,416		)	(2,296		)	(1,695		)
Net policyholder benefits and claims	$	2,696		$	2,764		$	3,147
Interest credited to policyholder account balances
Direct interest credited to policyholder account balances	$	1,104		$	1,125		$	1,202
Reinsurance assumed	78			76			91
Reinsurance ceded	(145		)	(139		)	(125		)
Net interest credited to policyholder account balances	$	1,037		$	1,062		$	1,168
Other expenses
Direct other expenses	$	2,142		$	2,524		$	1,861
Reinsurance assumed	55			106			19
Reinsurance ceded	120			124			57
Net other expenses	$	2,317		$	2,754		$	1,937

The amounts on the consolidated balance sheets include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows at:



	December 31,
	2015									2014
	Direct		Assumed		Ceded			Total Balance Sheet		Direct		Assumed		Ceded			Total Balance Sheet
	(In millions)
Assets
Premiums, reinsurance and other receivables	$	630	$	162	$	21,459		$	22,251	$	516	$	57	$	20,986		$	21,559
Deferred policy acquisition costs and value of business acquired	5,467		219		(877		)	4,809		5,367		246		(723		)	4,890
Total assets	$	6,097	$	381	$	20,582		$	27,060	$	5,883	$	303	$	20,263		$	26,449
Liabilities
Future policy benefits	$	28,670	$	1,294	$	(70	)	$	29,894	$	27,242	$	1,237	$	—		$	28,479
Policyholder account balances	34,764		897		—			35,661		34,659		827		—			35,486
Other policy-related balances	990		1,804		755			3,549		866		1,691		763			3,320
Other liabilities	2,566		86		5,030			7,682		2,469		63		5,412			7,944
Total liabilities	$	66,990	$	4,081	$	5,715		$	76,786	$	65,236	$	3,818	$	6,175		$	75,229

Affiliated Entity [Member]

Reinsurance Disclosure [Line Items]

Effects of reinsurance

Information regarding the significant effects of affiliated reinsurance included on the consolidated statements of operations was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Premiums
Reinsurance assumed	$	227		$	55		$	28
Reinsurance ceded	(783		)	(830		)	(638		)
Net premiums	$	(556	)	$	(775	)	$	(610	)
Universal life and investment-type product policy fees
Reinsurance assumed	$	142		$	291		$	259
Reinsurance ceded	(299		)	(361		)	(344		)
Net universal life and investment-type product policy fees	$	(157	)	$	(70	)	$	(85	)
Other revenues
Reinsurance assumed	$	—		$	28		$	1
Reinsurance ceded	246			252			325
Net other revenues	$	246		$	280		$	326
Policyholder benefits and claims
Reinsurance assumed	$	255		$	229		$	137
Reinsurance ceded	(925		)	(942		)	(673		)
Net policyholder benefits and claims	$	(670	)	$	(713	)	$	(536	)
Interest credited to policyholder account balances
Reinsurance assumed	$	78		$	76		$	91
Reinsurance ceded	(145		)	(139		)	(125		)
Net interest credited to policyholder account balances	$	(67	)	$	(63	)	$	(34	)
Other expenses
Reinsurance assumed	$	65		$	92		$	33
Reinsurance ceded	146			156			94
Net other expenses	$	211		$	248		$	127

Information regarding the significant effects of affiliated reinsurance included on the consolidated balance sheets was as follows at:



	December 31,
	2015					2014
	Assumed		Ceded			Assumed		Ceded
	(In millions)
Assets
Premiums, reinsurance and other receivables	$	129	$	12,746		$	45	$	12,718
Deferred policy acquisition costs and value of business acquired	120		(861		)	164		(707		)
Total assets	$	249	$	11,885		$	209	$	12,011
Liabilities
Future policy benefits	$	630	$	(70	)	$	593	$	—
Policyholder account balances	897		—			827		—
Other policy-related balances	1,785		755			1,689		763
Other liabilities	27		4,691			16		5,109
Total liabilities	$	3,339	$	5,376		$	3,125	$	5,872

Investments (Tables)

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Fixed Maturity and Equity Securities Available-for-Sale



	December 31, 2015											December 31, 2014
	Cost or Amortized Cost		Gross Unrealized							Estimated Fair Value		Cost or Amortized Cost		Gross Unrealized							Estimated Fair Value
	Cost or Amortized Cost		Gains		Temporary Losses		OTTI Losses			Estimated Fair Value		Cost or Amortized Cost		Gains		Temporary Losses		OTTI Losses			Estimated Fair Value
										(In millions)
Fixed Maturity Securities:
U.S. corporate	$	16,160	$	979	$	393	$	—		$	16,746	$	15,286	$	1,635	$	119	$	—		$	16,802
U.S. Treasury and agency	12,562		1,297		53		—			13,806		14,147		1,686		7		—			15,826
RMBS	8,391		201		95		19			8,478		5,858		291		33		35			6,081
Foreign corporate	4,995		153		194		—			4,954		5,162		310		58		—			5,414
State and political subdivision	2,398		321		13		1			2,705		2,180		413		1		—			2,592
ABS	2,694		14		34		—			2,674		1,546		26		10		—			1,562
CMBS (1)	2,303		20		23		(1		)	2,301		1,637		45		4		(1		)	1,679
Foreign government	651		104		10		—			745		607		136		2		—			741
Total fixed maturity securities	$	50,154	$	3,089	$	815	$	19		$	52,409	$	46,423	$	4,542	$	234	$	34		$	50,697
Equity securities
Non-redeemable preferred stock	$	217	$	16	$	9	$	—		$	224	$	224	$	9	$	7	$	—		$	226
Common stock	167		23		5		—			185		176		60		3		—			233
Total equity securities	$	384	$	39	$	14	$	—		$	409	$	400	$	69	$	10	$	—		$	459

______________


(1)	The noncredit loss component of OTTI losses for CMBS was in an unrealized gain position of $1 million at both December 31, 2015 and 2014, due to increases in estimated fair value subsequent to initial recognition of noncredit losses on such securities. See also “— Net Unrealized Investment Gains (Losses).”

Available-for-sale fixed maturity securities by contractual maturity date

The amortized cost and estimated fair value of fixed maturity securities, by contractual maturity date, were as follows at December 31, 2015:



	Due in One Year or Less		Due After One Year Through Five Years		Due After Five Years Through Ten Years		Due After Ten Years		Structured Securities		Total Fixed Maturity Securities
	(In millions)
Amortized cost	$	2,667	$	9,375	$	7,815	$	16,909	$	13,388	$	50,154
Estimated fair value	$	2,677	$	9,667	$	7,840	$	18,772	$	13,453	$	52,409

Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale



	December 31, 2015								December 31, 2014
	Less than 12 Months				Equal to or Greater than 12 Months				Less than 12 Months				Equal to or Greater than 12 Months
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(In millions, except number of securities)
Fixed maturity securities
U.S. corporate	$	4,569	$	278	$	571	$	115	$	1,346	$	45	$	685	$	74
U.S. Treasury and agency	4,037		53		—		—		4,067		5		163		2
RMBS	4,305		73		495		41		684		26		530		42
Foreign corporate	1,650		96		605		98		1,031		49		133		9
State and political subdivision	373		12		19		2		11		—		24		1
ABS	1,818		28		194		6		334		2		231		8
CMBS	1,346		21		44		1		124		1		78		2
Foreign government	130		9		6		1		27		1		9		1
Total fixed maturity securities	$	18,228	$	570	$	1,934	$	264	$	7,624	$	129	$	1,853	$	139
Equity securities
Non-redeemable preferred stock	$	25	$	1	$	40	$	8	$	28	$	1	$	44	$	6
Common stock	6		5		1		—		11		3		—		—
Total equity securities	$	31	$	6	$	41	$	8	$	39	$	4	$	44	$	6
Total number of securities in an unrealized loss position	1,850				394				752				333

Disclosure of Mortgage Loans Net of Valuation Allowance

Mortgage loans are summarized as follows at:



	December 31,
	2015					2014
	Carrying Value			% of Total		Carrying Value			% of Total
	(In millions)					(In millions)
Mortgage loans
Commercial	$	5,331		73.4	%	$	4,281		73.3	%
Agricultural	1,460			20.1		1,303			22.3
Residential	335			4.6		—			—
Subtotal	7,126			98.1		5,584			95.6
Valuation allowances	(36		)	(0.5	)	(25		)	(0.4	)
Subtotal mortgage loans, net	7,090			97.6		5,559			95.2
Commercial mortgage loans held by CSEs — FVO	172			2.4		280			4.8
Total mortgage loans, net	$	7,262		100.0	%	$	5,839		100.0	%

Disclosure of mortgage loans held-for-investment and valuation allowances by method of evaluation for credit loss



	Evaluated Individually for Credit Losses										Evaluated Collectively for Credit Losses				Impaired Loans
	Impaired Loans with a Valuation Allowance						Impaired Loans without a Valuation Allowance
	Unpaid Principal Balance		Recorded Investment		Valuation Allowances		Unpaid Principal Balance		Recorded Investment		Recorded Investment		Valuation Allowances		Carrying Value		Average Recorded Investment
	(In millions)
December 31, 2015
Commercial	$	—	$	—	$	—	$	—	$	—	$	5,331	$	28	$	—	$	—
Agricultural	4		3		—		—		—		1,457		5		3		3
Residential	—		—		—		—		—		335		3		—		—
Total	$	4	$	3	$	—	$	—	$	—	$	7,123	$	36	$	3	$	3
December 31, 2014
Commercial	$	—	$	—	$	—	$	—	$	—	$	4,281	$	21	$	—	$	43
Agricultural	4		3		—		—		—		1,300		4		3		3
Residential	—		—		—		—		—		—		—		—		—
Total	$	4	$	3	$	—	$	—	$	—	$	5,581	$	25	$	3	$	46

Allowance for Credit Losses on Financing Receivables

The changes in the valuation allowance, by portfolio segment, were as follows:



	Commercial			Agricultural		Residential		Total
	(In millions)
Balance at January 1, 2013	$	34		$	3	$	—	$	37
Provision (release)	(3		)	1		—		(2		)
Balance at December 31, 2013	31			4		—		35
Provision (release)	(10		)	—		—		(10		)
Balance at December 31, 2014	21			4		—		25
Provision (release)	7			1		3		11
Balance at December 31, 2015	$	28		$	5	$	3	$	36

Investment in leveraged leases

Investment in leveraged leases consisted of the following at:



	December 31,
	2015			2014
	(In millions)
Rental receivables, net	$	90		$	92
Estimated residual values	14			14
Subtotal	104			106
Unearned income	(33		)	(34		)
Investment in leveraged leases, net of non-recourse debt	$	71		$	72

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:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Fixed maturity securities	$	2,265		$	4,311		$	1,884
Fixed maturity securities with noncredit OTTI losses in AOCI	(19		)	(34		)	(45		)
Total fixed maturity securities	2,246			4,277			1,839
Equity securities	54			69			13
Derivatives	368			282			38
Other	78			9			(71		)
Subtotal	2,746			4,637			1,819
Amounts allocated from:
Future policy benefits	(56		)	(503		)	—
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	(1		)	(2		)	—
DAC, VOBA and DSI	(198		)	(403		)	(287		)
Subtotal	(255		)	(908		)	(287		)
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	7			12			15
Deferred income tax benefit (expense)	(844		)	(1,308		)	(606		)
Net unrealized investment gains (losses)	$	1,654		$	2,433		$	941

The changes in net unrealized investment gains (losses) were as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Balance at January 1,	$	2,433		$	941		$	2,569
Fixed maturity securities on which noncredit OTTI losses have been recognized	15			11			25
Unrealized investment gains (losses) during the year	(1,906		)	2,807			(3,601		)
Unrealized investment gains (losses) relating to:
Future policy benefits	447			(503		)	740
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	1			(2		)	(5		)
DAC, VOBA and DSI	205			(116		)	403
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	(5		)	(3		)	(7		)
Deferred income tax benefit (expense)	464			(702		)	817
Balance at December 31,	$	1,654		$	2,433		$	941
Change in net unrealized investment gains (losses)	$	(779	)	$	1,492		$	(1,628	)

Other than temporary impairment, losses recongnized in earnings

The changes in fixed maturity securities with noncredit OTTI losses included in AOCI were as follows:



	Years Ended December 31,
	2015			2014
	(In millions)
Balance at January 1,	$	(34	)	$	(45	)
Noncredit OTTI losses and subsequent changes recognized	9			6
Securities sold with previous noncredit OTTI loss	17			9
Subsequent changes in estimated fair value	(11		)	(4		)
Balance at December 31,	$	(19	)	$	(34	)

Securities Lending

Elements of the securities lending program are presented below at:



	December 31,
	2015		2014
	(In millions)
Securities on loan: (1)
Amortized cost	$	8,047	$	5,748
Estimated fair value	$	8,830	$	6,703
Cash collateral on deposit from counterparties (2)	$	8,981	$	6,781
Security collateral on deposit from counterparties (3)	$	23	$	60
Reinvestment portfolio — estimated fair value	$	8,938	$	6,846

______________


(1)	Included within fixed maturity securities and short-term investments.


(2)	Included within payables for collateral under securities loaned and other transactions.


(3)	Security collateral on deposit from counterparties may not be sold or re-pledged, unless the counterparty is in default, and is not reflected on the consolidated financial statements.

The cash collateral liability by loaned security type and remaining tenor of the agreements were as follows at:



	December 31, 2015
	Remaining Tenor of Securities Lending Agreements
	Open (1)		1 Month or Less		1 to 6 Months		Total		% of Total
	(In millions)
Cash collateral liability by loaned security type
U.S. Treasury and agency	$	2,631	$	3,140	$	1,338	$	7,109	79.1	%
Agency RMBS	—		939		579		1,518		16.9
U.S. corporate	9		302		—		311		3.5
Foreign government	1		42		—		43		0.5
Foreign corporate	—		—		—		—		—
Total	$	2,641	$	4,423	$	1,917	$	8,981	100.0	%



	December 31, 2014
	Remaining Tenor of Securities Lending Agreements
	Open (1)		1 Month or Less		1 to 6 Months		Total		% of Total
	(In millions)
Cash collateral liability by loaned security type
U.S. Treasury and agency	$	2,618	$	2,611	$	822	$	6,051	89.2	%
Agency RMBS	—		95		542		637		9.4
U.S. corporate	7		35		—		42		0.6
Foreign government	7		—		—		7		0.1
Foreign corporate	22		22		—		44		0.7
Total	$	2,654	$	2,763	$	1,364	$	6,781	100.0	%

______________


(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, Held in Trust and Pledged as Collateral

Invested assets on deposit, held in trust and pledged as collateral are presented below at estimated fair value for all asset classes, except mortgage loans, which are presented at carrying value at:



	December 31,
	2015		2014
	(In millions)
Invested assets on deposit (regulatory deposits) (1)	$	7,245	$	7,334
Invested assets held in trust (reinsurance agreements) (2)	952		936
Invested assets pledged as collateral (3)	2,801		3,174
Total invested assets on deposit, held in trust, and pledged as collateral	$	10,998	$	11,444

______________


(1)	See Note 3 for information about invested assets that became restricted in 2014 in connection with MetLife Insurance Company of Connecticut’s withdrawal of its New York license.


(2)	The Company has held in trust certain investments, primarily fixed maturity securities, in connection with certain reinsurance transactions.


(3)	The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Note 5) and derivative transactions (see Note 9).

Purchased credit impaired investments, by invested asset class, held

The following table presents information about PCI fixed maturity securities acquired during the periods indicated:



	Years Ended December 31,
	2015		2014
	(In millions)
Contractually required payments (including interest)	$	785	$	102
Cash flows expected to be collected (1)	$	698	$	78
Fair value of investments acquired	$	512	$	54

______________


(1)	Represents undiscounted principal and interest cash flow expectations, at the date of acquisition.

The Company’s PCI fixed maturity securities were as follows at:



	December 31,
	2015		2014
	(In millions)
Outstanding principal and interest balance (1)	$	1,224	$	653
Carrying value (2)	$	911	$	504

______________


(1)	Represents the contractually required payments, which is the sum of contractual principal, whether or not currently due, and accrued interest.


(2)	Estimated fair value plus accrued interest.

The following table presents activity for the accretable yield on PCI fixed maturity securities for:



	Years Ended December 31,
	2015			2014
	(In millions)
Accretable yield, January 1,	$	251		$	315
Investments purchased	186			24
Accretion recognized in earnings	(48		)	(25		)
Disposals	(8		)	(13		)
Reclassification (to) from nonaccretable difference	19			(50		)
Accretable yield, December 31,	$	400		$	251

The Components of Net Investment Income

The components of net investment income were as follows:



	Years Ended December 31,
	2015		2014		2013
	(In millions)
Investment income:
Fixed maturity securities	$	2,010	$	1,954	$	2,235
Equity securities	18		17		13
Mortgage loans	360		337		360
Policy loans	54		59		57
Real estate and real estate joint ventures	108		80		56
Other limited partnership interests	134		266		270
Cash, cash equivalents and short-term investments	8		5		7
Operating joint venture	11		2		(5		)
Other	11		3		(2		)
Subtotal	2,714		2,723		2,991
Less: Investment expenses	115		103		124
Subtotal, net	2,599		2,620		2,867
FVO CSEs — interest income — commercial mortgage loans	16		49		132
Subtotal	16		49		132
Net investment income	$	2,615	$	2,669	$	2,999

The components of net investment gains (losses)

The components of net investment gains (losses) were as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Total gains (losses) on fixed maturity securities:
Total OTTI losses recognized — by sector and industry:
U.S. and foreign corporate securities — by industry:
Consumer	$	(8	)	$	(2	)	$	—
Industrial	(3		)	—			—
Transportation	—			(2		)	(3		)
Finance	—			—			(3		)
Total U.S. and foreign corporate securities	(11		)	(4		)	(6		)
RMBS	(14		)	(8		)	(14		)
OTTI losses on fixed maturity securities recognized in earnings	(25		)	(12		)	(20		)
Fixed maturity securities — net gains (losses) on sales and disposals	(34		)	26			61
Total gains (losses) on fixed maturity securities	(59		)	14			41
Total gains (losses) on equity securities:
Total OTTI losses recognized — by sector:
Common stock	(3		)	(7		)	(2		)
Non-redeemable preferred stock	—			(8		)	(3		)
OTTI losses on equity securities recognized in earnings	(3		)	(15		)	(5		)
Equity securities — net gains (losses) on sales and disposals	18			14			10
Total gains (losses) on equity securities	15			(1		)	5
Mortgage loans	(11		)	17			5
Real estate and real estate joint ventures	98			(4		)	2
Other limited partnership interests	(1		)	(9		)	(6		)
Other	(2		)	43			(2		)
Subtotal	40			60			45
FVO CSEs:
Commercial mortgage loans	(7		)	(13		)	(56		)
Long-term debt — related to commercial mortgage loans	4			19			88
Non-investment portfolio gains (losses) (1)	(1		)	(535		)	(50		)
Subtotal	(4		)	(529		)	(18		)
Total net investment gains (losses)	$	36		$	(469	)	$	27

______________


(1)	Non-investment portfolio gains (losses) for the year ended December 31, 2014 includes a loss of $608 million related to the disposition of MAL as more fully described in Note 4.

Proceeds from sales or disposals of fixed maturity and equity securities and the components of fixed maturity and equity securities net investment gains and losses

Proceeds from sales or disposals of fixed maturity and equity securities and the components of fixed maturity and equity securities net investment gains (losses) were as shown in the table below.



	Years Ended December 31,
	2015			2014			2013			2015			2014			2013
	Fixed Maturity Securities									Equity Securities
	(In millions)
Proceeds	$	29,937		$	14,649		$	11,719		$	80		$	57		$	75
Gross investment gains	$	165		$	84		$	194		$	25		$	15		$	18
Gross investment losses	(199		)	(58		)	(133		)	(7		)	(1		)	(8		)
OTTI losses	(25		)	(12		)	(20		)	(3		)	(15		)	(5		)
Net investment gains (losses)	$	(59	)	$	14		$	41		$	15		$	(1	)	$	5

Rollforward of the Cumulative Credit Loss Component of OTTI income (loss)



	Years Ended December 31,
	2015			2014
	(In millions)
Balance at January 1,	$	57		$	59
Additions:
Initial impairments — credit loss OTTI on securities not previously impaired	1			—
Additional impairments — credit loss OTTI on securities previously impaired	11			7
Reductions:
Sales (maturities, pay downs or prepayments) of securities previously impaired as credit loss OTTI	(14		)	(9		)
Increase in cash flows — accretion of previous credit loss OTTI	(3		)	—
Balance at December 31,	$	52		$	57

Schedule of Invested Assets Transferred To and From Affiliates

The Company transfers invested assets, primarily consisting of fixed maturity securities, to and from affiliates. Invested assets transferred to and from affiliates were as follows:



	Years Ended December 31,
	2015		2014		2013
	(In millions)
Estimated fair value of invested assets transferred to affiliates	$	185	$	1,441	$	874
Amortized cost of invested assets transferred to affiliates	$	169	$	1,362	$	827
Net investment gains (losses) recognized on transfers	$	16	$	79	$	47
Estimated fair value of invested assets transferred from affiliates	$	928	$	132	$	834

Variable Interest Entity, Primary Beneficiary [Member]

Variable Interest Entity [Line Items]

Variable Interest Entities



	December 31,
	2015		2014
	(In millions)
CSEs: (1)
Assets:
Mortgage loans (commercial mortgage loans)	$	172	$	280
Accrued investment income	1		2
Total assets	$	173	$	282
Liabilities:
Long-term debt	$	48	$	139
Other liabilities	1		1
Total liabilities	$	49	$	140

______________

(1)

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity [Line Items]

Variable Interest Entities



	December 31,
	2015				2014
	Carrying Amount		Maximum Exposure to Loss (1)		Carrying Amount		Maximum Exposure to Loss (1)
	(In millions)
Fixed maturity securities AFS:
Structured securities (RMBS, ABS and CMBS) (2)	$	13,453	$	13,453	$	9,322	$	9,322
U.S. and foreign corporate	461		461		526		526
Other limited partnership interests	1,367		1,647		1,774		2,162
Other investments (3)	92		100		103		117
Total	$	15,373	$	15,661	$	11,725	$	12,127

______________

(1)


(2)	For these variable interests, the Company’s involvement is limited to that of a passive investor in mortgage-backed or asset-backed securities issued by trusts that do not have substantial equity.


(3)	Other investments is comprised of real estate joint ventures, other invested assets and non-redeemable preferred stock.

Commercial

Mortgage Loans on Real Estate [Line Items]

Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories

The credit quality of commercial mortgage loans was as follows at:



	Recorded Investment										Estimated Fair Value		% of Total
	Debt Service Coverage Ratios						Total		% of Total
	> 1.20x		1.00x - 1.20x		< 1.00x		Total		% of Total
	(In millions)										(In millions)
December 31, 2015
Loan-to-value ratios
Less than 65%	$	4,659	$	151	$	100	$	4,910	92.1	%	$	5,124	92.6	%
65% to 75%	330		—		8		338		6.3		330		6.0
76% to 80%	—		—		—		—		—		—		—
Greater than 80%	44		25		14		83		1.6		80		1.4
Total	$	5,033	$	176	$	122	$	5,331	100.0	%	$	5,534	100.0	%
December 31, 2014
Loan-to-value ratios
Less than 65%	$	3,668	$	267	$	125	$	4,060	94.8	%	$	4,431	95.1	%
65% to 75%	113		14		—		127		3.0		134		2.9
76% to 80%	9		—		—		9		0.2		10		0.2
Greater than 80%	45		26		14		85		2.0		83		1.8
Total	$	3,835	$	307	$	139	$	4,281	100.0	%	$	4,658	100.0	%

Agricultural

Mortgage Loans on Real Estate [Line Items]

Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories

The credit quality of agricultural mortgage loans was as follows at:



	December 31,
	2015				2014
	Recorded Investment		% of Total		Recorded Investment		% of Total
	(In millions)				(In millions)
Loan-to-value ratios
Less than 65%	$	1,366	93.6	%	$	1,239	95.1	%
65% to 75%	94		6.4		64		4.9
Total	$	1,460	100.0	%	$	1,303	100.0	%

Derivatives (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following table presents the gross notional amount, estimated fair value and primary underlying risk exposure of the Company’s derivatives, excluding embedded derivatives, held at:



	Primary Underlying Risk Exposure	December 31,
		2015						2014
				Estimated Fair Value						Estimated Fair Value
		Gross Notional Amount		Assets		Liabilities		Gross Notional Amount		Assets		Liabilities
		(In millions)
Derivatives Designated as Hedging Instruments
Fair value hedges:
Interest rate swaps	Interest rate	$	420	$	38	$	1	$	379	$	33	$	2
Cash flow hedges:
Interest rate swaps	Interest rate	230		60		—		369		81		—
Interest rate forwards	Interest rate	35		8		—		155		45		—
Foreign currency swaps	Foreign currency exchange rate	937		126		3		728		56		9
Subtotal		1,202		194		3		1,252		182		9
Total qualifying hedges		1,622		232		4		1,631		215		11
Derivatives Not Designated or Not Qualifying as Hedging Instruments
Interest rate swaps	Interest rate	23,134		1,804		638		25,919		1,709		601
Interest rate floors	Interest rate	7,036		33		24		16,404		83		69
Interest rate caps	Interest rate	13,792		38		—		7,901		11		—
Interest rate futures	Interest rate	630		2		—		325		1		—
Interest rate options	Interest rate	18,620		472		5		29,870		446		16
Foreign currency swaps	Foreign currency exchange rate	659		75		—		672		59		4
Foreign currency forwards	Foreign currency exchange rate	185		4		1		48		3		—
Credit default swaps — purchased	Credit	21		—		—		45		—		1
Credit default swaps — written	Credit	2,093		13		1		1,924		29		1
Equity futures	Equity market	3,669		37		—		3,086		34		—
Equity index options	Equity market	44,035		1,032		626		27,212		854		613
Equity variance swaps	Equity market	14,866		120		434		15,433		120		435
TRRs	Equity market	2,814		31		49		2,332		12		67
Total non-designated or nonqualifying derivatives		131,554		3,661		1,778		131,171		3,361		1,807
Total		$	133,176	$	3,893	$	1,782	$	132,802	$	3,576	$	1,818

Earned Income On Derivatives And Income Statement Location

The following table presents earned income on derivatives:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Qualifying hedges:
Net investment income	$	11		$	4		$	2
Interest credited to policyholder account balances	(2		)	(1		)	2
Nonqualifying hedges:
Net derivative gains (losses)	360			273			(157		)
Policyholder benefits and claims	14			32			(292		)
Total	$	383		$	308		$	(445	)

Amount and location of gains (losses) recognized in income for derivatives that are not designated or qualifying as hedging instruments

The following table presents the amount and location of gains (losses) recognized in income for derivatives that were not designated or qualifying as hedging instruments:



	Net Derivative Gains (Losses)			Net Investment Income (1)			Policyholder Benefits and Claims (2)
	(In millions)
Year Ended December 31, 2015
Interest rate derivatives	$	(67	)	$	—		$	5
Foreign currency exchange rate derivatives	42			—			—
Credit derivatives — purchased	—			—			—
Credit derivatives — written	(14		)	—			—
Equity derivatives	(476		)	(4		)	(25		)
Total	$	(515	)	$	(4	)	$	(20	)
Year Ended December 31, 2014
Interest rate derivatives	$	1,174		$	—		$	43
Foreign currency exchange rate derivatives	4			—			—
Credit derivatives — purchased	(22		)	—			—
Credit derivatives — written	18			—			—
Equity derivatives	(591		)	(8		)	(279		)
Total	$	583		$	(8	)	$	(236	)
Year Ended December 31, 2013
Interest rate derivatives	$	(1,534	)	$	—		$	(27	)
Foreign currency exchange rate derivatives	(542		)	—			—
Credit derivatives — purchased	—			—			—
Credit derivatives — written	27			—			—
Equity derivatives	(3,625		)	(7		)	(726		)
Total	$	(5,674	)	$	(7	)	$	(753	)

______________


(1)	Changes in estimated fair value related to economic hedges of equity method investments in joint ventures.


(2)	Changes in estimated fair value related to economic hedges of variable annuity guarantees included in future policy benefits.

Net derivatives gains (losses) recognized on fair value derivatives and the related hedged items



Derivatives in Fair Value Hedging Relationships	Hedged Items in Fair Value Hedging Relationships	Net Derivative Gains (Losses) Recognized for Derivatives			Net Derivative Gains (Losses) Recognized for Hedged Items			Ineffectiveness Recognized in Net Derivative Gains (Losses)
		(In millions)
Year Ended December 31, 2015
Interest rate swaps:	Fixed maturity securities	$	1		$	1		$	2
	Policyholder liabilities (1)	2			(2		)	—
Foreign currency swaps:	Foreign-denominated policyholder account balances (2)	—			—			—
Total		$	3		$	(1	)	$	2
Year Ended December 31, 2014
Interest rate swaps:	Fixed maturity securities	$	1		$	(1	)	$	—
	Policyholder liabilities (1)	32			(31		)	1
Foreign currency swaps:	Foreign-denominated policyholder account balances (2)	—			—			—
Total		$	33		$	(32	)	$	1
Year Ended December 31, 2013
Interest rate swaps:	Fixed maturity securities	$	7		$	(9	)	$	(2	)
	Policyholder liabilities (1)	(30		)	28			(2		)
Foreign currency swaps:	Foreign-denominated policyholder account balances (2)	2			(2		)	—
Total		$	(21	)	$	17		$	(4	)

______________


(1)	Fixed rate liabilities reported in policyholder account balances or future policy benefits.


(2)	Fixed rate or floating rate liabilities.

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table presents the effects of derivatives in cash flow hedging relationships on the consolidated statements of operations and the consolidated statements of stockholder’s equity:



Derivatives in Cash Flow Hedging Relationships	Amount of Gains (Losses) Deferred in AOCI on Derivatives			Amount and Location of Gains (Losses) Reclassified from AOCI into Income (Loss)					Amount and Location of Gains (Losses) Recognized in Income (Loss) on Derivatives



	(Effective Portion)			(Effective Portion)					(Ineffective Portion)
				Net Derivative Gains (Losses)			Net Investment Income		Net Derivative Gains (Losses)
	(In millions)
Year Ended December 31, 2015
Interest rate swaps	$	15		$	1		$	1	$	1
Interest rate forwards	1			2			2		—
Foreign currency swaps	76			—			—		—
Credit forwards	—			—			—		—
Total	$	92		$	3		$	3	$	1
Year Ended December 31, 2014
Interest rate swaps	$	131		$	1		$	1	$	—
Interest rate forwards	55			1			1		—
Foreign currency swaps	56			(6		)	—		—
Credit forwards	—			—			—		—
Total	$	242		$	(4	)	$	2	$	—
Year Ended December 31, 2013
Interest rate swaps	$	(120	)	$	—		$	1	$	—
Interest rate forwards	(57		)	9			1		—
Foreign currency swaps	(17		)	—			—		1
Credit forwards	(1		)	—			—		—
Total	$	(195	)	$	9		$	2	$	1

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:



	December 31,
	2015					2014
Rating Agency Designation of Referenced Credit Obligations (1)	Estimated Fair Value of Credit Default Swaps		Maximum Amount of Future Payments under Credit Default Swaps		Weighted Average Years to Maturity (2)	Estimated Fair Value of Credit Default Swaps		Maximum Amount of Future Payments under Credit Default Swaps		Weighted Average Years to Maturity (2)
	(In millions)					(In millions)
Aaa/Aa/A
Single name credit default swaps (corporate)	$	1	$	207	1.5	$	2	$	155	2.1
Credit default swaps referencing indices	1		219		4.0	1		134		1.3
Subtotal	2		426		2.8	3		289		1.7
Baa
Single name credit default swaps (corporate)	2		409		1.6	5		454		2.3
Credit default swaps referencing indices	8		1,222		4.8	18		1,145		5.0
Subtotal	10		1,631		4.0	23		1,599		4.2
B
Single name credit default swaps (corporate)	—		—		—	—		—		—
Credit default swaps referencing indices	—		36		5.0	2		36		5.0
Subtotal	—		36		5.0	2		36		5.0
Total	$	12	$	2,093	3.8	$	28	$	1,924	3.8

______________


(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 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.

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:



	December 31,
	2015						2014
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)	$	3,870		$	1,725		$	3,554		$	1,767
OTC-cleared (1)	78			78			75			73
Exchange-traded	39			—			35			—
Total gross estimated fair value of derivatives (1)	3,987			1,803			3,664			1,840
Amounts offset on the consolidated balance sheets	—			—			—			—
Estimated fair value of derivatives presented on the consolidated balance sheets (1)	3,987			1,803			3,664			1,840
Gross amounts not offset on the consolidated balance sheets:
Gross estimated fair value of derivatives: (2)
OTC-bilateral	(1,577		)	(1,577		)	(1,592		)	(1,592		)
OTC-cleared	(70		)	(70		)	(54		)	(54		)
Exchange-traded	—			—			—			—
Cash collateral: (3), (4)
OTC-bilateral	(1,605		)	—			(753		)	—
OTC-cleared	(8		)	(8		)	(21		)	(18		)
Exchange-traded	—			—			—			—
Securities collateral: (5)
OTC-bilateral	(552		)	(148		)	(1,152		)	(175		)
OTC-cleared	—			—			—			—
Exchange-traded	—			—			—			—
Net amount after application of master netting agreements and collateral	$	175		$	—		$	92		$	1

______________


(1)	At December 31, 2015 and 2014, derivative assets included income or expense accruals reported in accrued investment income or in other liabilities of $94 million and $88 million, respectively, and derivative liabilities included income or expense accruals reported in accrued investment income or in other liabilities of $21 million and $22 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)

(4)

(5)

Derivative Instruments, Gain (Loss) [Line Items]

Components of Net Derivatives Gains (Losses)

The components of net derivative gains (losses) were as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Freestanding derivatives and hedging gains (losses) (1)	$	(154	)	$	868		$	(5,826	)
Embedded derivatives gains (losses)	(270		)	(1,049		)	6,267
Total net derivative gains (losses)	$	(424	)	$	(181	)	$	441

______________


(1)	Includes foreign currency transaction gains (losses) on hedged items in cash flow and nonqualifying hedging relationships, which are not presented elsewhere in this note.

Schedule of Derivative Instruments



	December 31,
	2015		2014
	(In millions)
Estimated fair value of derivatives in a net liability position (1)	$	148	$	175
Estimated Fair Value of Collateral Provided
Fixed maturity securities	$	179	$	192
Cash	$	—	$	—
Fair Value of Incremental Collateral Provided Upon
One-notch downgrade in financial strength rating	$	—	$	—
Downgrade in financial strength rating to a level that triggers full overnight collateralization or termination of the derivative position	$	—	$	—

______________


(1)	After taking into consideration the existence of netting agreements.

Embedded Derivative Financial Instruments [Member]

Derivative Instruments, Gain (Loss) [Line Items]

Components of Net Derivatives Gains (Losses)

The following table presents changes in estimated fair value related to embedded derivatives:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Net derivative gains (losses) (1), (2)	$	(270	)	$	(1,049	)	$	6,267
Policyholder benefits and claims	$	21		$	87		$	(139	)

______________


(1)	The valuation of direct and assumed guaranteed minimum benefits includes a nonperformance risk adjustment. The amounts included in net derivative gains (losses) in connection with this adjustment were $25 million, $73 million and ($1.0) billion for the years ended December 31, 2015, 2014 and 2013, respectively.


(2)	See Note 7 for discussion of affiliated net derivative gains (losses).

Schedule of Derivative Instruments

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:



		December 31,
	Balance Sheet Location	2015			2014
		(In millions)
Net embedded derivatives within asset host contracts:
Ceded guaranteed minimum benefits	Premiums, reinsurance and other receivables	$	242		$	217
Funds withheld on assumed reinsurance	Other invested assets	35			53
Options embedded in debt or equity securities	Investments	(63		)	(48		)
Net embedded derivatives within asset host contracts		$	214		$	222
Net embedded derivatives within liability host contracts:
Direct guaranteed minimum benefits	Policyholder account balances	$	177		$	(609	)
Assumed guaranteed minimum benefits	Policyholder account balances	897			827
Funds withheld on ceded reinsurance	Other liabilities	244			382
Other	Policyholder account balances	6			17
Net embedded derivatives within liability host contracts		$	1,324		$	617

Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Long-term debt outstanding

Long-term debt outstanding was as follows:



	Interest Rate	Maturity	December 31,
	Interest Rate	Maturity	2015		2014
			(In millions)
Surplus note — affiliated (1)	8.60%	2038	$	750	$	750
Long-term debt — unaffiliated (2)	7.03%	2030	38		39
Total long-term debt (3)			$	788	$	789

______________


(1)	Payments of interest and principal on the affiliated surplus note, which is subordinate to all other obligations and may be made only with the prior approval of the Delaware Commissioner of Insurance (the “Delaware Commissioner”).


(2)	Principal and interest is paid quarterly.


(3)	Excludes $48 million and $139 million of long-term debt relating to CSEs at December 31, 2015 and 2014, respectively. See Note 8.

Fair Value (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Recurring Fair Value Measurements



	December 31, 2015
	Fair Value Hierarchy
	Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Fixed maturity securities:
U.S. corporate	$	—	$	15,295	$	1,451	$	16,746
U.S. Treasury and agency	7,998		5,808		—		13,806
RMBS	—		7,138		1,340		8,478
Foreign corporate	—		4,263		691		4,954
State and political subdivision	—		2,692		13		2,705
ABS	—		2,357		317		2,674
CMBS	—		2,120		181		2,301
Foreign government	—		719		26		745
Total fixed maturity securities	7,998		40,392		4,019		52,409
Equity securities	44		268		97		409
Short-term investments (1)	59		1,623		47		1,729
Commercial mortgage loans held by CSEs — FVO	—		172		—		172
Derivative assets: (2)
Interest rate	2		2,445		8		2,455
Foreign currency exchange rate	—		205		—		205
Credit	—		12		1		13
Equity market	37		968		215		1,220
Total derivative assets	39		3,630		224		3,893
Net embedded derivatives within asset host contracts (3)	—		—		277		277
Separate account assets (4)	624		100,965		146		101,735
Total assets	$	8,764	$	147,050	$	4,810	$	160,624
Liabilities
Derivative liabilities: (2)
Interest rate	$	—	$	668	$	—	$	668
Foreign currency exchange rate	—		4		—		4
Credit	—		1		—		1
Equity market	—		653		456		1,109
Total derivative liabilities	—		1,326		456		1,782
Net embedded derivatives within liability host contracts (3)	—		—		1,324		1,324
Long-term debt of CSEs — FVO	—		48		—		48
Total liabilities	$	—	$	1,374	$	1,780	$	3,154



	December 31, 2014
	Fair Value Hierarchy						Total Estimated Fair Value
	Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Fixed maturity securities:
U.S. corporate	$	—	$	15,447	$	1,355	$	16,802
U.S. Treasury and agency	10,226		5,600		—		15,826
RMBS	—		5,365		716		6,081
Foreign corporate	—		4,704		710		5,414
State and political subdivision	—		2,592		—		2,592
ABS	—		1,381		181		1,562
CMBS	—		1,531		148		1,679
Foreign government	—		741		—		741
Total fixed maturity securities	10,226		37,361		3,110		50,697
Equity securities	105		254		100		459
Short-term investments (1)	253		812		71		1,136
Commercial mortgage loans held by CSEs — FVO	—		280		—		280
Derivative assets: (2)
Interest rate	1		2,363		45		2,409
Foreign currency exchange rate	—		118		—		118
Credit	—		28		1		29
Equity market	34		770		216		1,020
Total derivative assets	35		3,279		262		3,576
Net embedded derivatives within asset host contracts (3)	—		—		270		270
Separate account assets (4)	249		108,454		158		108,861
Total assets	$	10,868	$	150,440	$	3,971	$	165,279
Liabilities
Derivative liabilities: (2)
Interest rate	$	—	$	688	$	—	$	688
Foreign currency exchange rate	—		13		—		13
Credit	—		2		—		2
Equity market	—		657		458		1,115
Total derivative liabilities	—		1,360		458		1,818
Net embedded derivatives within liability host contracts (3)	—		—		617		617
Long-term debt of CSEs — FVO	—		139		—		139
Total liabilities	$	—	$	1,499	$	1,075	$	2,574

______________


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

(2)

(3)


(4)	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.

Fair Value Inputs, Quantitative Information



					December 31, 2015				December 31, 2014				Impact of Increase in Input on Estimated Fair Value (2)
	Valuation Techniques		Significant Unobservable Inputs		Range			Weighted Average (1)	Range			Weighted Average (1)	Impact of Increase in Input on Estimated Fair Value (2)
Fixed maturity securities (3)
U.S. corporate and foreign corporate	•	Matrix pricing	•	Delta spread adjustments (4)	(65)	-	240	49	(35)	-	240	51	Decrease
	•	Market pricing	•	Quoted prices (5)	13	-	780	314	—	-	750	418	Increase
	•	Consensus pricing	•	Offered quotes (5)	68	-	95	80	78	-	103	86	Increase
RMBS	•	Market pricing	•	Quoted prices (5)	29	-	292	93	1	-	117	107	Increase (6)
ABS	•	Market pricing	•	Quoted prices (5)	97	-	103	100	97	-	108	101	Increase (6)
	•	Consensus pricing	•	Offered quotes (5)	66	-	105	99	62	-	106	99	Increase (6)
Derivatives
Interest rate	•	Present value techniques	•	Swap yield (7)	317	-	317		278	-	297		Increase (11)
Credit	•	Present value techniques	•	Credit spreads (8)	—	-	—		99	-	99		Decrease (8)
	•	Consensus pricing	•	Offered quotes (9)
Equity market	•	Present value techniques or option pricing models	•	Volatility (10)	17%	-	36%		15%	-	27%		Increase (11)
			•	Correlation (12)	70%	-	70%		70%	-	70%
Embedded derivatives
Direct, assumed and ceded guaranteed minimum benefits	•	Option pricing techniques	•	Mortality rates:
				Ages 0 - 40	0%	-	0.09%		0%	-	0.10%		Decrease (13)
				Ages 41 - 60	0.04%	-	0.65%		0.04%	-	0.65%		Decrease (13)
				Ages 61 - 115	0.26%	-	100%		0.26%	-	100%		Decrease (13)
			•	Lapse rates:
				Durations 1 - 10	0.25%	-	100%		0.50%	-	100%		Decrease (14)
				Durations 11 - 20	3%	-	100%		3%	-	100%		Decrease (14)
				Durations 21 - 116	3%	-	100%		3%	-	100%		Decrease (14)
			•	Utilization rates	0%	-	25%		20%	-	50%		Increase (15)
			•	Withdrawal rates	0.25%	-	10%		0.07%	-	10%		(16)
			•	Long-term equity volatilities	17.40%	-	25%		17.40%	-	25%		Increase (17)
			•	Nonperformance risk spread	0.04%	-	0.52%		0.03%	-	1.39%		Decrease (18)

______________


(1)	The weighted average for fixed maturity securities is determined based on the estimated fair value of the securities.


(2)	The impact of a decrease in input would have the opposite impact on the estimated fair value. For embedded derivatives, changes to direct guaranteed minimum benefits are based on liability positions and changes to ceded guaranteed minimum benefits are based on asset positions.


(3)	Significant increases (decreases) in expected default rates in isolation would result in substantially lower (higher) valuations.


(4)	Range and weighted average are presented in basis points.


(5)	Range and weighted average are presented in accordance with the market convention for fixed maturity securities of dollars per hundred dollars of par.


(6)	Changes in the assumptions used for the probability of default is 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.

(7)


(8)	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.


(9)	At both December 31, 2015 and 2014, independent non-binding broker quotations were used in the determination of less than 1% of the total net derivative estimated fair value.


(10)	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.


(11)	Changes are based on long U.S. dollar net asset positions and will be inversely impacted for short U.S. dollar net asset positions.


(12)	Ranges 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.


(13)	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.

(14)

(15)

(16)


(17)	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.


(18)	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 Inputs, Quantitative Information



					December 31, 2015				December 31, 2014				Impact of Increase in Input on Estimated Fair Value (2)
	Valuation Techniques		Significant Unobservable Inputs		Range			Weighted Average (1)	Range			Weighted Average (1)	Impact of Increase in Input on Estimated Fair Value (2)
Fixed maturity securities (3)
U.S. corporate and foreign corporate	•	Matrix pricing	•	Delta spread adjustments (4)	(65)	-	240	49	(35)	-	240	51	Decrease
	•	Market pricing	•	Quoted prices (5)	13	-	780	314	—	-	750	418	Increase
	•	Consensus pricing	•	Offered quotes (5)	68	-	95	80	78	-	103	86	Increase
RMBS	•	Market pricing	•	Quoted prices (5)	29	-	292	93	1	-	117	107	Increase (6)
ABS	•	Market pricing	•	Quoted prices (5)	97	-	103	100	97	-	108	101	Increase (6)
	•	Consensus pricing	•	Offered quotes (5)	66	-	105	99	62	-	106	99	Increase (6)
Derivatives
Interest rate	•	Present value techniques	•	Swap yield (7)	317	-	317		278	-	297		Increase (11)
Credit	•	Present value techniques	•	Credit spreads (8)	—	-	—		99	-	99		Decrease (8)
	•	Consensus pricing	•	Offered quotes (9)
Equity market	•	Present value techniques or option pricing models	•	Volatility (10)	17%	-	36%		15%	-	27%		Increase (11)
			•	Correlation (12)	70%	-	70%		70%	-	70%
Embedded derivatives
Direct, assumed and ceded guaranteed minimum benefits	•	Option pricing techniques	•	Mortality rates:
				Ages 0 - 40	0%	-	0.09%		0%	-	0.10%		Decrease (13)
				Ages 41 - 60	0.04%	-	0.65%		0.04%	-	0.65%		Decrease (13)
				Ages 61 - 115	0.26%	-	100%		0.26%	-	100%		Decrease (13)
			•	Lapse rates:
				Durations 1 - 10	0.25%	-	100%		0.50%	-	100%		Decrease (14)
				Durations 11 - 20	3%	-	100%		3%	-	100%		Decrease (14)
				Durations 21 - 116	3%	-	100%		3%	-	100%		Decrease (14)
			•	Utilization rates	0%	-	25%		20%	-	50%		Increase (15)
			•	Withdrawal rates	0.25%	-	10%		0.07%	-	10%		(16)
			•	Long-term equity volatilities	17.40%	-	25%		17.40%	-	25%		Increase (17)
			•	Nonperformance risk spread	0.04%	-	0.52%		0.03%	-	1.39%		Decrease (18)

______________


(1)	The weighted average for fixed maturity securities is determined based on the estimated fair value of the securities.


(2)	The impact of a decrease in input would have the opposite impact on the estimated fair value. For embedded derivatives, changes to direct guaranteed minimum benefits are based on liability positions and changes to ceded guaranteed minimum benefits are based on asset positions.


(3)	Significant increases (decreases) in expected default rates in isolation would result in substantially lower (higher) valuations.


(4)	Range and weighted average are presented in basis points.


(5)	Range and weighted average are presented in accordance with the market convention for fixed maturity securities of dollars per hundred dollars of par.


(6)	Changes in the assumptions used for the probability of default is 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.

(7)


(8)	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.


(9)	At both December 31, 2015 and 2014, independent non-binding broker quotations were used in the determination of less than 1% of the total net derivative estimated fair value.


(10)	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.


(11)	Changes are based on long U.S. dollar net asset positions and will be inversely impacted for short U.S. dollar net asset positions.


(12)	Ranges 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.


(13)	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.

(14)

(15)

(16)


(17)	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.


(18)	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 and (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
	Corporate (1)			Structured (2)			State and Political Subdivision		Foreign Government			Equity Securities			Short-term Investments			Net Derivatives (3)			Net Embedded Derivatives (4)			Separate Account Assets (5)
	(In millions)
Balance, January 1, 2014	$	2,049		$	1,005		$	—	$	—		$	131		$	—		$	(292	)	$	288		$	153
Total realized/unrealized gains (losses) included in net income (loss) (6) (7)	3			10			—		—			(2		)	—			(4		)	(957		)	(1		)
Total realized/unrealized gains (losses) included in AOCI	74			12			—		—			7			—			57			107			—
Purchases (8)	178			501			—		—			—			71			4			—			12
Sales (8)	(194		)	(277		)	—		—			(24		)	—			—			—			(9		)
Issuances (8)	—			—			—		—			—			—			—			—			—
Settlements (8)	—			—			—		—			—			—			39			215			—
Transfers into Level 3 (9)	163			25			—		—			6			—			—			—			3
Transfers out of Level 3 (9)	(208		)	(231		)	—		—			(18		)	—			—			—			—
Balance, December 31, 2014	$	2,065		$	1,045		$	—	$	—		$	100		$	71		$	(196	)	$	(347	)	$	158
Total realized/unrealized gains (losses) included in net income (loss) (6) (7)	16			21			—		—			11			—			(74		)	(228		)	(6		)
Total realized/unrealized gains (losses) included in AOCI	(113		)	(11		)	—		(3		)	(10		)	—			2			—			—
Purchases (8)	285			1,255			13		29			—			47			22			—			3
Sales (8)	(118		)	(360		)	—		—			(16		)	—			—			—			(5		)
Issuances (8)	—			—			—		—			—			—			—			—			—
Settlements (8)	—			—			—		—			—			—			14			(472		)	—
Transfers into Level 3 (9)	202			22			—		—			19			—			—			—			—
Transfers out of Level 3 (9)	(195		)	(134		)	—		—			(7		)	(71		)	—			—			(4		)
Balance, December 31, 2015	$	2,142		$	1,838		$	13	$	26		$	97		$	47		$	(232	)	$	(1,047	)	$	146
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2013 (10)	$	5		$	1		$	—	$	—		$	(5	)	$	—		$	(443	)	$	6,270		$	—
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2014 (10)	$	3		$	6		$	—	$	—		$	(1	)	$	—		$	(7	)	$	(982	)	$	—
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2015 (10)	$	11		$	21		$	—	$	—		$	—		$	—		$	(64	)	$	(241	)	$	—
Gains (Losses) Data for the year ended December 31, 2013
Total realized/unrealized gains (losses) included in net income (loss) (6) (7)	$	1		$	4		$	—	$	—		$	8		$	—		$	(466	)	$	6,309		$	6
Total realized/unrealized gains (losses) included in AOCI	$	(43	)	$	9		$	—	$	—		$	21		$	—		$	(58	)	$	292		$	—

____________


(1)	Comprised of U.S. and foreign corporate securities.


(2)	Comprised of RMBS, ABS and CMBS.


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


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


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

(6)


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


(8)	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.


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


(10)	Changes in unrealized gains (losses) included in net income (loss) 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).

Fair Value Option

The following table presents information for certain assets and liabilities of CSEs, which are accounted for under the FVO. These assets and liabilities were initially measured at fair value.



	December 31,
	2015		2014
	(In millions)
Assets (1)
Unpaid principal balance	$	121	$	223
Difference between estimated fair value and unpaid principal balance	51		57
Carrying value at estimated fair value	$	172	$	280
Liabilities (1)
Contractual principal balance	$	46	$	133
Difference between estimated fair value and contractual principal balance	2		6
Carrying value at estimated fair value	$	48	$	139

______________

(1)

Nonrecurring Fair Value Measurements



	At December 31,						Years Ended December 31,
	2015		2014		2013		2015			2014			2013
	Carrying Value After Measurement						Gains (Losses)
	(In millions)
Mortgage loans (1)	$	3	$	3	$	19	$	—		$	—		$	(3	)
Other limited partnership interests (2)	$	2	$	38	$	5	$	(1	)	$	(6	)	$	(6	)
Goodwill (3)	$	—	$	—	$	—	$	—		$	(33	)	$	(66	)

______________


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

(2)

(3)

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:



	December 31, 2015
			Fair Value Hierarchy
	Carrying Value		Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Mortgage loans	$	7,090	$	—	$	—	$	7,386	$	7,386
Policy loans	$	1,266	$	—	$	917	$	430	$	1,347
Real estate joint ventures	$	23	$	—	$	—	$	65	$	65
Other limited partnership interests	$	52	$	—	$	—	$	57	$	57
Premiums, reinsurance and other receivables	$	6,074	$	—	$	80	$	7,163	$	7,243
Liabilities
Policyholder account balances	$	18,968	$	—	$	—	$	20,339	$	20,339
Long-term debt	$	788	$	—	$	1,070	$	—	$	1,070
Other liabilities	$	217	$	—	$	43	$	174	$	217
Separate account liabilities	$	1,275	$	—	$	1,275	$	—	$	1,275



	December 31, 2014
			Fair Value Hierarchy
	Carrying Value		Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Mortgage loans	$	5,559	$	—	$	—	$	6,020	$	6,020
Policy loans	$	1,194	$	—	$	834	$	454	$	1,288
Real estate joint ventures	$	37	$	—	$	—	$	83	$	83
Other limited partnership interests	$	63	$	—	$	—	$	81	$	81
Premiums, reinsurance and other receivables	$	6,231	$	—	$	51	$	7,156	$	7,207
Liabilities
Policyholder account balances	$	20,554	$	—	$	—	$	22,079	$	22,079
Long-term debt	$	789	$	—	$	1,120	$	—	$	1,120
Other liabilities	$	245	$	—	$	76	$	169	$	245
Separate account liabilities	$	1,432	$	—	$	1,432	$	—	$	1,432

- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

+ References + Details

Goodwill (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Rollforward and by Segment

Information regarding goodwill by segment, as well as Corporate & Other, was as follows:



	Retail			Corporate Benefit Funding			Corporate & Other (1)			Total
	(In millions)
Balance at January 1, 2013
Goodwill	$	274		$	307		$	405		$	986
Accumulated impairment	(218		)	—			(176		)	(394		)
Total goodwill, net	$	56		$	307		$	229		$	592
Impairments (2)	(23		)	—			(43		)	(66		)
Balance at December 31, 2013
Goodwill	$	274		$	307		$	405		$	986
Accumulated impairment	(241		)	—			(219		)	(460		)
Total goodwill, net	$	33		$	307		$	186		$	526
Dispositions (3)	—			(112		)	—			(112		)
Impairments	(33		)	—			—			(33		)
Balance at December 31, 2014
Goodwill	$	274		$	195		$	405		$	874
Accumulated impairment	(274		)	—			(219		)	(493		)
Total goodwill, net	$	—		$	195		$	186		$	381
Balance at December 31, 2015
Goodwill	$	274		$	195		$	405		$	874
Accumulated impairment	(274		)	—			(219		)	(493		)
Total goodwill, net	$	—		$	195		$	186		$	381

______________


(1)	For purposes of goodwill impairment testing in 2015, the $186 million of net goodwill in Corporate & Other at December 31, 2014 did not change. This balance resulted from goodwill acquired as part of the 2005 Travelers acquisition and was allocated to the Corporate Benefit Funding segment.

(2)


(3)	In connection with the sale of MAL, goodwill in the Corporate Benefit Funding reporting unit was reduced by $112 million during the year ended December 31, 2014. See Note 4. This goodwill was allocated to MAL based on the relative fair values of MAL and the remaining portion of the Corporate Benefit Funding reporting unit.

Equity (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Schedules of statutory net income, capital and surplus and reserve strengthening by subsidiary

Statutory net income (loss) was as follows:



		Years Ended December 31,
Company	State of Domicile	2015			2014		2013
		(In millions)
MetLife Insurance Company USA	Delaware	$	(1,022	)	$	1,543	$	3,358

Statutory capital and surplus was as follows at:



	December 31,
Company	2015		2014
	(In millions)
MetLife Insurance Company USA	$	5,942	$	6,042

Components of Accumulated Other Comprehensive Income (Loss)

Information regarding changes in the balances of each component of AOCI was as follows:



	Unrealized Investment Gains (Losses), Net of Related Offsets (1)			Unrealized Gains (Losses) on Derivatives			Foreign Currency Translation Adjustments			Total
	(In millions)
Balance at January 1, 2012	$	2,410		$	159		$	(13	)	$	2,556
OCI before reclassifications	(2,163		)	(195		)	54			(2,304		)
Deferred income tax benefit (expense)	714			68			(2		)	780
AOCI before reclassifications, net of income tax	961			32			39			1,032
Amounts reclassified from AOCI	(69		)	(11		)	—			(80		)
Deferred income tax benefit (expense)	24			4			—			28
Amounts reclassified from AOCI, net of income tax	(45		)	(7		)	—			(52		)
Balance at December 31, 2013	916			25			39			980
OCI before reclassifications	2,301			242			(56		)	2,487
Deferred income tax benefit (expense)	(707		)	(85		)	4			(788		)
AOCI before reclassifications, net of income tax	2,510			182			(13		)	2,679
Amounts reclassified from AOCI	(28		)	2			—			(26		)
Deferred income tax benefit (expense)	8			(1		)	—			7
Amounts reclassified from AOCI, net of income tax	(20		)	1			—			(19		)
Sale of subsidiary (2)	(320		)	—			6			(314		)
Deferred income tax benefit (expense)	80			—			—			80
Sale of subsidiary, net of income tax	(240		)	—			6			(234		)
Balance at December 31, 2014	2,250			183			(7		)	2,426
OCI before reclassifications	(1,370		)	92			(28		)	(1,306		)
Deferred income tax benefit (expense)	506			(32		)	9			483
AOCI before reclassifications, net of income tax	1,386			243			(26		)	1,603
Amounts reclassified from AOCI	46			(6		)	—			40
Deferred income tax benefit (expense)	(17		)	2			—			(15		)
Amounts reclassified from AOCI, net of income tax	29			(4		)	—			25
Balance at December 31, 2015	$	1,415		$	239		$	(26	)	$	1,628

__________________


(1)	See Note 8 for information on offsets to investments related to future policy benefits, DAC, VOBA and DSI.


(2)	See Note 4.

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Information regarding amounts reclassified out of each component of AOCI was as follows:



AOCI Components	Amounts Reclassified from AOCI									Consolidated Statement of Operations and Comprehensive Income (Loss) Locations
	Years Ended December 31,
	2015			2014			2013
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains(losses)	$	(48	)	$	13		$	50		Net investment gains (losses)
Net unrealized investment gains (losses)	12			11			17			Net investment income
Net unrealized investment gains (losses)	(10		)	4			2			Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	(46		)	28			69
Income tax (expense) benefit	17			(8		)	(24		)
Net unrealized investment gains (losses), net of income tax	$	(29	)	$	20		$	45
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps	$	1		$	1		$	—		Net derivative gains (losses)
Interest rate swaps	1			1			1			Net investment income
Interest rate forwards	2			1			9			Net derivative gains (losses)
Interest rate forwards	2			1			1			Net investment income
Foreign currency swaps	—			(6		)	—			Net derivative gains (losses)
Gains (losses) on cash flow hedges, before income tax	6			(2		)	11
Income tax (expense) benefit	(2		)	1			(4		)
Gains (losses) on cash flow hedges, net of income tax	$	4		$	(1	)	$	7
Total reclassifications, net of income tax	$	(25	)	$	19		$	52

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References + Details

Other Expenses (Tables)

12 Months Ended

Dec. 31, 2015

Other Income and Expenses [Abstract]

Other Expenses

Information on other expenses was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Compensation	$	472		$	320		$	358
Commissions	650			492			700
Volume-related costs	134			170			165
Affiliated interest costs on ceded and assumed reinsurance	205			325			212
Capitalization of DAC	(325		)	(279		)	(512		)
Amortization of DAC and VOBA	595			990			205
Interest expense on debt	76			109			195
Premium taxes, licenses and fees	67			53			59
Professional services	21			58			42
Rent and related expenses	53			41			31
Other	369			475			482
Total other expenses	$	2,317		$	2,754		$	1,937

Income Tax (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Provision for income tax from continuing operations

The provision for income tax was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Current:
Federal	$	281		$	(364	)	$	(271	)
Foreign	—			6			8
Subtotal	281			(358		)	(263		)
Deferred:
Federal	(66		)	355			682
Foreign	—			(2		)	18
Subtotal	(66		)	353			700
Provision for income tax expense (benefit)	$	215		$	(5	)	$	437

Income (loss) from continuing operations before income tax expense (benefit) from domestic and foreign operations

The Company’s income (loss) before income tax expense (benefit) from domestic and foreign operations were as follows:



	Years Ended December 31,
	2015		2014			2013
	(In millions)
Income (loss):
Domestic	$	1,041	$	(174	)	$	1,724
Foreign	13		464			(146		)
Total	$	1,054	$	290		$	1,578

Income tax for continuing operations effective rate reconciliation

The reconciliation of the income tax provision at the U.S. statutory rate to the provision for income tax as reported was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Tax provision at U.S. statutory rate	$	369		$	102		$	551
Tax effect of:
Dividend received deduction	(127		)	(114		)	(93		)
Prior year tax	(4		)	(20		)	(6		)
Tax credits	(16		)	(14		)	(11		)
Foreign tax rate differential	(5		)	—			(2		)
Goodwill impairment	—			12			13
Sale of subsidiary	—			24			(24		)
Other, net	(2		)	5			9
Provision for income tax expense (benefit)	$	215		$	(5	)	$	437

Components of deferred tax assets and liabilities



	December 31,
	2015			2014
	(In millions)
Deferred income tax assets:
Policyholder liabilities and receivables	$	1,638		$	1,836
Tax credit carryforwards	168			149
Other	39			40
Total deferred income tax assets	1,845			2,025
Deferred income tax liabilities:
Investments, including derivatives	132			372
Intangibles	521			519
Net unrealized investment gains	837			1,296
DAC	1,158			1,176
Total deferred income tax liabilities	2,648			3,363
Net deferred income tax asset (liability)	$	(803	)	$	(1,338	)

Summary of Tax Credit Carryforwards

The following table sets forth the general business credits, foreign tax credits, and other credit carryforwards for tax purposes at December 31, 2015.



	Tax Credit Carryforwards
	General Business Credits		Foreign Tax Credits		Other
	(In millions)
Expiration
2016-2020	$	—	$	—	$	—
2021-2025	—		20		—
2026-2030	—		—		—
2031-2035	5		—		—
Indefinite	—		—		150
	$	5	$	20	$	150

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows:



	Years Ended December 31,
	2015			2014			2013
	(In millions)
Balance at January 1,	$	38		$	26		$	(1	)
Additions for tax positions of prior years	5			15			28
Reductions for tax positions of prior years	—			(5		)	(1		)
Additions for tax positions of current year	3			2			1
Reductions for tax positions of current year	—			—			(1		)
Settlements with tax authorities	$	(4	)	$	—		$	—
Balance at December 31,	$	42		$	38		$	26
Unrecognized tax benefits that, if recognized would impact the effective rate	$	32		$	28		$	26

Interest was as follows:



	Years Ended December 31,
	2015		2014		2013
	(In millions)
Interest recognized on the consolidated statements of operations	$	—	$	—	$	2

			December 31,
			2015		2014
			(In millions)
Interest included in other liabilities on the consolidated balance sheets			$	2	$	2

Contingencies, Commitments and Guarantees (Tables)

12 Months Ended

Dec. 31, 2015

Insurance-related Assessments

Loss Contingencies [Line Items]

Schedule of Loss Contingencies by Contingency

Assets and liabilities held for insolvency assessments were as follows:



	December 31,
	2015		2014
	(In millions)
Other Assets:
Premium tax offset for future discounted and undiscounted assessments	$	13	$	13
Premium tax offsets currently available for paid assessments	10		13
	$	23	$	26
Other Liabilities:
Insolvency assessments	$	17	$	18

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14472-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12021-110248

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14453-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12053-110248

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14394-108349

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14326-108349

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14557-108349

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14615-108349

+ Details

Business, Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of segments	2
Property, Equipment, Leasehold Improvements and Computer Software [Abstract]
Cost basis of computer software	$ 254	$ 235
Accumulated amortization of computer software	107	107
Amortization expense related to computer software	$ 1	$ 2	$ 7
Minimum
Real Estate Held-for-investment And Accumulated Depreciation [Line Items]
Real Estate Held-for-investment And Accumulated Depreciation Life Used For Depreciation	20 years
Maximum
Real Estate Held-for-investment And Accumulated Depreciation [Line Items]
Real Estate Held-for-investment And Accumulated Depreciation Life Used For Depreciation	55 years
Other Capitalized Property Plant and Equipment [Member] \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Other Capitalized Property Plant and Equipment [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Leasehold Improvements [Member] \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Leasehold Improvements [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period	4 years
VODA and VOCRA [Member] \| Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization period	10 years
VODA and VOCRA [Member] \| Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization period	30 years

Segment Information (Earnings) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Premiums	$ 1,433	$ 1,152	$ 689
Universal life and investment-type product policy fees	2,940	3,193	3,130
Net investment income	2,615	2,669	2,999
Other revenues	504	539	610
Net investment gains (losses)	36	(469)	27
Net derivative gains (losses)	(424)	(181)	441
Total revenues	7,104	6,903	7,896
Expenses
Policyholder benefits and claims	2,696	2,764	3,147
Interest credited to policyholder account balances	1,037	1,062	1,168
Goodwill impairment	0	33	66
Capitalization of DAC	(325)	(279)	(512)
Amortization of DAC and VOBA	595	990	205
Interest expense on debt	76	109	195
Other expenses	1,971	1,934	2,049
Total expenses	6,050	6,613	6,318
Provision for income tax expense (benefit)	215	(5)	437
Net income (loss)	839	295	1,141
Retail
Expenses
Goodwill impairment		33	23
Amortization of DAC and VOBA	571	966	199
Corporate Benefit Funding
Expenses
Goodwill impairment		0	0
Amortization of DAC and VOBA	1	2	5
Corporate & Other
Expenses
Goodwill impairment		0	43
Amortization of DAC and VOBA	23	22	1
Operating Segments
Revenues
Premiums	1,433	1,150	597
Universal life and investment-type product policy fees	2,674	2,879	2,862
Net investment income	2,841	2,747	2,870
Other revenues	504	538	610
Net investment gains (losses)	0	0	0
Net derivative gains (losses)	0	0	0
Total revenues	7,452	7,314	6,939
Expenses
Policyholder benefits and claims	2,390	2,213	1,627
Interest credited to policyholder account balances	1,034	1,059	1,173
Goodwill impairment	0	0	0
Capitalization of DAC	(325)	(279)	(512)
Amortization of DAC and VOBA	667	702	592
Interest expense on debt	68	73	73
Other expenses	1,971	1,922	2,030
Total expenses	5,805	5,690	4,983
Provision for income tax expense (benefit)	423	420	612
Operating earnings	1,224	1,204	1,344
Operating Segments \| Retail
Revenues
Premiums	1,170	1,080	469
Universal life and investment-type product policy fees	2,619	2,700	2,648
Net investment income	2,043	1,960	1,897
Other revenues	499	532	605
Net investment gains (losses)	0	0	0
Net derivative gains (losses)	0	0	0
Total revenues	6,331	6,272	5,619
Expenses
Policyholder benefits and claims	1,770	1,768	1,087
Interest credited to policyholder account balances	927	943	1,034
Goodwill impairment	0	0	0
Capitalization of DAC	(252)	(221)	(483)
Amortization of DAC and VOBA	643	678	586
Interest expense on debt	0	5	5
Other expenses	1,755	1,736	1,932
Total expenses	4,843	4,909	4,161
Provision for income tax expense (benefit)	386	341	441
Operating earnings	1,102	1,022	1,017
Operating Segments \| Corporate Benefit Funding
Revenues
Premiums	15	(26)	92
Universal life and investment-type product policy fees	55	33	35
Net investment income	858	896	982
Other revenues	5	5	5
Net investment gains (losses)	0	0	0
Net derivative gains (losses)	0	0	0
Total revenues	933	908	1,114
Expenses
Policyholder benefits and claims	414	390	527
Interest credited to policyholder account balances	107	116	139
Goodwill impairment	0	0	0
Capitalization of DAC	(1)	(1)	(2)
Amortization of DAC and VOBA	1	2	5
Interest expense on debt	0	0	0
Other expenses	46	31	21
Total expenses	567	538	690
Provision for income tax expense (benefit)	126	125	147
Operating earnings	240	245	277
Operating Segments \| Corporate & Other
Revenues
Premiums	248	96	36
Universal life and investment-type product policy fees	0	146	179
Net investment income	(60)	(109)	(9)
Other revenues	0	1	0
Net investment gains (losses)	0	0	0
Net derivative gains (losses)	0	0	0
Total revenues	188	134	206
Expenses
Policyholder benefits and claims	206	55	13
Interest credited to policyholder account balances	0	0	0
Goodwill impairment	0	0	0
Capitalization of DAC	(72)	(57)	(27)
Amortization of DAC and VOBA	23	22	1
Interest expense on debt	68	68	68
Other expenses	170	155	77
Total expenses	395	243	132
Provision for income tax expense (benefit)	(89)	(46)	24
Operating earnings	(118)	(63)	50
Significant Reconciling Items
Revenues
Premiums	0	2	92
Universal life and investment-type product policy fees	266	314	268
Net investment income	(226)	(78)	129
Other revenues	0	1	0
Net investment gains (losses)	36	(469)	27
Net derivative gains (losses)	(424)	(181)	441
Total revenues	(348)	(411)	957
Expenses
Policyholder benefits and claims	306	551	1,520
Interest credited to policyholder account balances	3	3	(5)
Goodwill impairment	0	33	66
Capitalization of DAC	0	0	0
Amortization of DAC and VOBA	(72)	288	(387)
Interest expense on debt	8	36	122
Other expenses	0	12	19
Total expenses	245	923	1,335
Provision for income tax expense (benefit)	$ (208)	$ (425)	$ (175)

Segment Information (Total Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total assets	$ 202,362	$ 205,863
Separate account assets	101,735	108,861
Separate account liabilities	101,735	108,861
Retail
Segment Reporting Information [Line Items]
Total assets	167,142	173,657
Separate account assets	98,502	106,667
Separate account liabilities	98,502	106,667
Corporate Benefit Funding
Segment Reporting Information [Line Items]
Total assets	25,043	25,312
Separate account assets	3,233	2,194
Separate account liabilities	3,233	2,194
Corporate & Other
Segment Reporting Information [Line Items]
Total assets	10,177	6,894
Separate account assets	0	0
Separate account liabilities	$ 0	$ 0

Segment Information (Premiums, Universal Life and Investment-Type Policy Fees and Other Revenues by Major Product Groups) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total premiums, universal life and investment-type product policy fees and other revenues	$ 4,877	$ 4,884	$ 4,429
Annuities
Segment Reporting Information [Line Items]
Total premiums, universal life and investment-type product policy fees and other revenues	3,568	3,926	3,486
Life insurance (1)
Segment Reporting Information [Line Items]
Total premiums, universal life and investment-type product policy fees and other revenues	1,176	953	937
Accident & health insurance
Segment Reporting Information [Line Items]
Total premiums, universal life and investment-type product policy fees and other revenues	$ 133	$ 5	$ 6

Segment Information (Narrative) (Details) $ in Millions	12 Months Ended
Segment Information (Narrative) (Details) $ in Millions	Dec. 31, 2015	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Segment Reporting [Abstract]
Number of segments	2
Retail
Segment Reporting Information [Line Items]
Prior period reclassification adjustment		$ 61	$ 25
Prior period adjustment to operating earnings tax expense		(177)	(144)
Corporate Benefit Funding
Segment Reporting Information [Line Items]
Prior period reclassification adjustment		1	(15)
Prior period adjustment to operating earnings tax expense		(4)	(9)
Corporate & Other
Segment Reporting Information [Line Items]
Prior period reclassification adjustment		(62)	(10)
Prior period adjustment to operating earnings tax expense		181	$ 153
Affiliated Entity
Segment Reporting Information [Line Items]
Reinsurance ceded premiums earned and policyholder benefits and claims		$ 87

Mergers (Details Narrative) (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Nov. 30, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Common Stock, Shares Authorized	4,000	4,000	4,000	40,000,000
Common Stock, Shares, Issued	3,000	3,000	3,000
Met Life Insurance Company Of Connecticut
Related Party Transaction [Line Items]
Common Stock, Shares, Issued				30,000,000
Metropolitan Life Insurance Company
Related Party Transaction [Line Items]
Estimated fair value of invested assets transferred to affiliates	$ 6.3

Dispositions (Details Narrative) £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2014 GBP (£)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-investment portfolio gains (losses)	$ (2)	$ 43	$ (2)
Goodwill Disposition		112
MetLife Assurance Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net consideration		702		£ 418
Non-investment portfolio gains (losses)		(608)
Non-investment portfolio gains (losses), net of tax		(436)
Goodwill Disposition		112
Goodwill Disposition, net of tax		94
Disposal Group, Including Discontinued Operation, Operating Income (Loss)		$ 77

Insurance (Insurance Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Insurance Liabilities [Line Items]
Insurance liabilities comprised of future policy benefits, policyholder account balances and other policy-related balances	$ 69,104	$ 67,285
Retail
Insurance Liabilities [Line Items]
Insurance liabilities comprised of future policy benefits, policyholder account balances and other policy-related balances	45,953	42,974
Corporate Benefit Funding
Insurance Liabilities [Line Items]
Insurance liabilities comprised of future policy benefits, policyholder account balances and other policy-related balances	15,985	17,544
Corporate & Other
Insurance Liabilities [Line Items]
Insurance liabilities comprised of future policy benefits, policyholder account balances and other policy-related balances	$ 7,166	$ 6,767

Insurance (Liabilities for Guarantees) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	$ 4,425	$ 3,343	$ 2,655
Incurred guaranteed benefits	978	1,106	710
Paid guaranteed benefits	(36)	(24)	(22)
Balance at December 31,	5,367	4,425	3,343
Net Ceded/(Assumed)
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	1,703	952	633
Incurred guaranteed benefits	372	750	280
Paid guaranteed benefits	(33)	1	39
Balance at December 31,	2,042	1,703	952
Net
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	2,722	2,391	2,022
Incurred guaranteed benefits	606	356	430
Paid guaranteed benefits	(3)	(25)	(61)
Balance at December 31,	3,325	2,722	2,391
Variable Annuity \| Guaranteed Minimum Death Benefit
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	611	404	260
Incurred guaranteed benefits	248	231	166
Paid guaranteed benefits	(36)	(24)	(22)
Balance at December 31,	823	611	404
Variable Annuity \| Guaranteed Minimum Income Benefit
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	1,440	1,155	1,027
Incurred guaranteed benefits	317	285	128
Paid guaranteed benefits	0	0	0
Balance at December 31,	1,757	1,440	1,155
Variable Annuity \| Net Ceded/(Assumed) \| Guaranteed Minimum Death Benefit
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	(29)	(205)	(218)
Incurred guaranteed benefits	19	175	(26)
Paid guaranteed benefits	(33)	1	39
Balance at December 31,	(43)	(29)	(205)
Variable Annuity \| Net Ceded/(Assumed) \| Guaranteed Minimum Income Benefit
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	(57)	(155)	(134)
Incurred guaranteed benefits	(9)	98	(21)
Paid guaranteed benefits	0	0	0
Balance at December 31,	(66)	(57)	(155)
Variable Annuity \| Net \| Guaranteed Minimum Death Benefit
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	640	609	478
Incurred guaranteed benefits	229	56	192
Paid guaranteed benefits	(3)	(25)	(61)
Balance at December 31,	866	640	609
Variable Annuity \| Net \| Guaranteed Minimum Income Benefit
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	1,497	1,310	1,161
Incurred guaranteed benefits	326	187	149
Paid guaranteed benefits	0	0	0
Balance at December 31,	1,823	1,497	1,310
Universal and Variable Life Contracts \| Secondary Guarantees
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	2,374	1,784	1,368
Incurred guaranteed benefits	413	590	416
Paid guaranteed benefits	0	0	0
Balance at December 31,	2,787	2,374	1,784
Universal and Variable Life Contracts \| Net Ceded/(Assumed) \| Secondary Guarantees
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	1,789	1,312	985
Incurred guaranteed benefits	362	477	327
Paid guaranteed benefits	0	0	0
Balance at December 31,	2,151	1,789	1,312
Universal and Variable Life Contracts \| Net \| Secondary Guarantees
Movement In Guaranteed Benefit Liability Gross Rollforward
Balance at January 1,	585	472	383
Incurred guaranteed benefits	51	113	89
Paid guaranteed benefits	0	0	0
Balance at December 31,	$ 636	$ 585	$ 472

Insurance (Fund Groupings) (Details) - Variable Annuity and Variable Life - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Fund Groupings	$ 96,709	$ 104,744
Equity
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Fund Groupings	41,269	43,430
Balanced
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Fund Groupings	49,870	55,287
Bond
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Fund Groupings	4,802	5,226
Money Market
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Fund Groupings	$ 768	$ 801

Insurance (Guarantees Related to Annuity Contracts) (Details) - Variable Annuity Guarantees - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Guaranteed Death Benefits
Net Amount at Risk by Product and Guarantee [Line Items]
Total account value (3)	$ 103,830	$ 112,298
Separate account value	98,897	107,261
Net amount at risk	$ 8,168	$ 3,151
Average attained age of contractholders	66 years	65 years
Guaranteed Annuitization Benefits
Net Amount at Risk by Product and Guarantee [Line Items]
Total account value (3)	$ 58,615	$ 64,550
Separate account value	57,284	63,206
Net amount at risk	$ 2,088	$ 1,297
Average attained age of contractholders	66 years	65 years

Insurance (Guarantees Related to Universal and Variable Life Contracts) (Details) - Universal and Variable Life Contracts - Secondary Guarantees - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Net Amount at Risk by Product and Guarantee [Line Items]
Total account value (3)	$ 6,919	$ 6,702
Net amount at risk (6)	$ 90,940	$ 91,204
Average attained age of policyholders	59 years	59 years

Insurance (Obligations Under Funding Agreements - FHLB Common Stock) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Federal Home Loan Bank of Boston
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank Stock	$ 36	$ 55
Federal Home Loan Bank of Des Moines
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank Stock	4	16
Federal Home Loan Bank of Pittsburgh
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank Stock	$ 85	$ 24

Insurance (Obligations Under Funding Agreements - Liability and Collateral) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fixed and Floating Rate Funding Agreements by Type [Line Items]
Outstanding funding agreements to certain SPEs	$ 2,200	$ 3,500
Invested Assets Pledged As Collateral	2,801	3,174
Funding agreements - Federal Agricultural Mortgage Corporation
Fixed and Floating Rate Funding Agreements by Type [Line Items]
Outstanding funding agreements to certain SPEs	0	200
Invested Assets Pledged As Collateral	0	231
Federal Home Loan Bank of Boston
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank amount of advances by branch for funding agreements	250	575
Collateral pledged relating to obligations under funding agreements	311	666
Federal Home Loan Bank of Des Moines
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank amount of advances by branch for funding agreements	95	405
Collateral pledged relating to obligations under funding agreements	147	546
Federal Home Loan Bank of Pittsburgh
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank amount of advances by branch for funding agreements	1,570	185
Collateral pledged relating to obligations under funding agreements	$ 1,789	$ 1,154

Insurance (Liabilities for Unpaid Claims and Claim Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Liabilities for Unpaid Claims and Claim Expenses
Balance at January 1,	$ 1,483	$ 1,325	$ 1,216
Less: Reinsurance recoverables	1,400	1,235	1,124
Net balance at January 1,	83	90	92
Incurred related to:
Current year	105	3	5
Prior years	0	2	4
Total incurred	105	5	9
Paid related to:
Current year	(30)	0	0
Prior years	(10)	(12)	(11)
Total paid	(40)	(12)	(11)
Net balance at December 31,	148	83	90
Add: Reinsurance recoverables	1,545	1,400	1,235
Balance at December 31,	$ 1,693	$ 1,483	$ 1,325

Insurance (Insurance Liabilities Assumptions and Ratios - Narrative) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Liability for Future Policy Benefits and Policyholder Account Balances [Abstract]
Participating business as a percentage of gross life insurance policies in-force	3.00%	6.00%
Participating business as a percentage of the gross life insurance premiums	43.00%	39.00%	36.00%
Minimum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Interest rate assumptions for the aggregate future policy benefit liabilities for individual and group traditional fixed annuities after annuitization	3.00%
Interest rate assumptions for the aggregate future policy benefit liabilities for non-medical health insurance	4.00%
Interest rate assumptions for the aggregate future policy benefit liabilities for disabled lives	3.00%
Interest rate range credited to policyholder account balances	1.00%
Maximum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Interest rate assumptions for the aggregate future policy benefit liabilities for individual and group traditional fixed annuities after annuitization	8.00%
Interest rate assumptions for the aggregate future policy benefit liabilities for non-medical health insurance	7.00%
Interest rate assumptions for the aggregate future policy benefit liabilities for disabled lives	6.00%
Interest rate range credited to policyholder account balances	8.00%
Participating Life Insurance Policies
Liability for Future Policy Benefit, by Product Segment [Line Items]
Interest rate assumptions for the aggregate future policy benefit liabilities for traditional life insurance policies, low end	4.00%
Nonparticipating Life Insurance Policies
Liability for Future Policy Benefit, by Product Segment [Line Items]
Interest rate assumptions for the aggregate future policy benefit liabilities for traditional life insurance policies, low end	3.00%
Interest rate assumptions for the aggregate future policy benefit liabilities for traditional life insurance policies, high end	8.00%

Insurance (Obligations Under Funding Agreements - Narrative) (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Insurance [Abstract]
Funding agreements issued to certain SPEs	$ 13.0	$ 12.2	$ 10.9
Funding agreements repaid to certain SPEs	14.4	13.9	$ 11.7
Outstanding funding agreements to certain SPEs	$ 2.2	$ 3.5

Insurance (Separate Accounts - Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Separate Accounts [Line Items]
Separate account assets	$ 101,735,000,000	$ 108,861,000,000
Gain (losses) on transfers of assets from the general account to the separate accounts	$ 0	$ 0	$ 0
Funding Agreements and Participating Close Out Contracts Included in Separate Accounts with a Guaranteed Minimum Return or Account Value
Schedule Separate Accounts [Line Items]
Average interest rate credited on separate accounts with a guaranteed minimum return or account value	2.56%	2.52%
Pass Through Separate Accounts
Schedule Separate Accounts [Line Items]
Separate account assets	$ 101,500,000,000	$ 108,700,000,000
Separate Accounts With A Guaranteed Minimum Return Or Account Value
Schedule Separate Accounts [Line Items]
Separate account assets	$ 189,000,000	$ 187,000,000

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (DAC and VOBA) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Policy Acquisition Costs and Value of Business Acquired [Abstract]
Beginning Balance of DAC	$ 4,162	$ 4,795	$ 4,086
Capitalizations of DAC	325	279	512
Net investment gains (losses) of DAC and net derivative gains (losses) of DAC	188	(152)	219
Other expenses of DAC	(639)	(699)	(287)
Total amortization of DAC	(451)	(851)	(68)
Unrealized investment gains (losses) of DAC	95	(61)	83
Other of DAC	0	0	182
Ending Balance of DAC	4,131	4,162	4,795
Beginning Balance of VOBA	728	896	718
Net investment gains (losses) of VOBA and net derivative gains (losses) of VOBA	(19)	(1)	5
Other expenses of VOBA	(125)	(138)	(142)
Total amortization of VOBA	(144)	(139)	(137)
Unrealized investment gains (losses) of VOBA	94	(29)	315
Ending Balance of VOBA	678	728	896
Balance at December 31,	$ 4,809	$ 4,890	$ 5,691

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (DAC and VOBA by Segment) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
DAC and VOBA	$ 4,809	$ 4,890	$ 5,691
Retail
Segment Reporting Information [Line Items]
DAC and VOBA	4,694	4,824	5,659
Corporate Benefit Funding
Segment Reporting Information [Line Items]
DAC and VOBA	6	5	6
Corporate & Other
Segment Reporting Information [Line Items]
DAC and VOBA	$ 109	$ 61	$ 26

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (Deferred Sales Inducements) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
DSI
Balance at January 1,	$ 522	$ 619	$ 633
Capitalization	3	4	6
Amortization	(64)	(73)	(20)
Unrealized investment gains (losses)	17	(28)	0
Balance at December 31,	$ 478	$ 522	$ 619

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (VODA and VOCRA) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Insurance [Abstract]
Balance at January 1,	$ 142	$ 159	$ 175
Amortization	(17)	(17)	(16)
Balance at December 31,	125	142	159
Accumulated amortization	$ 115	$ 98	$ 81

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (Estimated Future Amortization) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Estimated future amortization expense allocated to other expenses for VOBA [Abstract]
VOBA 2016	$ 122
VOBA 2017	100
VOBA 2018	83
VOBA 2019	69
VOBA 2020	54
Value of Distribution Agreements and Customer Relationships Acquired [Abstract]
VODA and VOCRA 2016	12
VODA and VOCRA 2017	11
VODA and VOCRA 2018	10
VODA and VOCRA 2019	9
VODA and VOCRA 2020	$ 8

Reinsurance (Effects of Reinsurance on Earnings) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Premiums:
Direct premiums	$ 2,281	$ 2,226	$ 1,590
Reinsurance assumed	297	94	73
Reinsurance ceded	(1,145)	(1,168)	(974)
Net premiums	1,433	1,152	689
Universal life and investment-type product policy fees:
Direct universal life and investment-type product policy fees	3,607	3,610	3,492
Reinsurance assumed	142	398	398
Reinsurance ceded	(809)	(815)	(760)
Net universal life and investment-type product policy fees	2,940	3,193	3,130
Other revenues:
Direct other revenues	258	259	284
Reinsurance assumed	0	28	1
Reinsurance ceded	246	252	325
Net other revenues	504	539	610
Policyholder benefits and claims:
Direct policyholder benefits and claims	4,807	4,797	4,693
Reinsurance assumed	305	263	149
Reinsurance ceded	(2,416)	(2,296)	(1,695)
Net policyholder benefits and claims	2,696	2,764	3,147
Interest credited to policyholder account balances:
Direct interest credited to policyholder account balances	1,104	1,125	1,202
Reinsurance assumed	78	76	91
Reinsurance ceded	145	139	125
Net interest credited to policyholder account balances	1,037	1,062	1,168
Other expenses:
Direct other expenses	2,142	2,524	1,861
Reinsurance assumed	55	106	19
Reinsurance ceded	120	124	57
Total other expenses	$ 2,317	$ 2,754	$ 1,937

Reinsurance (Effects of Reinsurance on Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets:
Premiums, reinsurance and other receivables	$ 22,251	$ 21,559
Deferred policy acquisition costs and value of business acquired	4,809	4,890	$ 5,691
Total assets	27,060	26,449
Liabilities:
Future policy benefits	29,894	28,479
Policyholder Account Balances	35,661	35,486	$ 37,389
Other policy-related balances	3,549	3,320
Other Liabilities	7,682	7,944
Total liabilities	76,786	75,229
Direct
Assets:
Premiums, reinsurance and other receivables	630	516
Deferred policy acquisition costs and value of business acquired	5,467	5,367
Total assets	6,097	5,883
Liabilities:
Future policy benefits	28,670	27,242
Policyholder Account Balances	34,764	34,659
Other policy-related balances	990	866
Other Liabilities	2,566	2,469
Total liabilities	66,990	65,236
Assumed
Assets:
Premiums, reinsurance and other receivables	162	57
Deferred policy acquisition costs and value of business acquired	219	246
Total assets	381	303
Liabilities:
Future policy benefits	1,294	1,237
Policyholder Account Balances	897	827
Other policy-related balances	1,804	1,691
Other Liabilities	86	63
Total liabilities	4,081	3,818
Ceded
Assets:
Premiums, reinsurance and other receivables	21,459	20,986
Deferred policy acquisition costs and value of business acquired	(877)	(723)
Total assets	20,582	20,263
Liabilities:
Future policy benefits	(70)	0
Policyholder Account Balances	0	0
Other policy-related balances	755	763
Other Liabilities	5,030	5,412
Total liabilities	$ 5,715	$ 6,175

Reinsurance (Effects of Affiliated Reinsurance on Statements of Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Premiums:
Reinsurance assumed	$ 297	$ 94	$ 73
Reinsurance ceded	(1,145)	(1,168)	(974)
Net premiums	1,433	1,152	689
Universal life and investment-type product policy fees:
Reinsurance assumed	142	398	398
Reinsurance ceded	(809)	(815)	(760)
Net universal life and investment-type product policy fees	2,940	3,193	3,130
Other revenues:
Reinsurance assumed	0	28	1
Reinsurance ceded	246	252	325
Net other revenues	504	539	610
Policyholder benefits and claims:
Reinsurance assumed	305	263	149
Reinsurance ceded	(2,416)	(2,296)	(1,695)
Net policyholder benefits and claims	2,696	2,764	3,147
Interest credited to policyholder account balances:
Reinsurance assumed	78	76	91
Reinsurance ceded	(145)	(139)	(125)
Net interest credited to policyholder account balances	1,037	1,062	1,168
Other expenses:
Reinsurance assumed	55	106	19
Reinsurance ceded	120	124	57
Net other expenses	2,317	2,754	1,937
Affiliated Entity [Member]
Universal life and investment-type product policy fees:
Net universal life and investment-type product policy fees	248	266	247
Other revenues:
Net other revenues	208	202	211
Other expenses:
Net other expenses	1,600	1,600	1,700
Affiliated Entity [Member] \| Assumed
Premiums:
Reinsurance assumed	227	55	28
Universal life and investment-type product policy fees:
Reinsurance assumed	142	291	259
Other revenues:
Reinsurance assumed	0	28	1
Policyholder benefits and claims:
Reinsurance assumed	255	229	137
Interest credited to policyholder account balances:
Reinsurance assumed	78	76	91
Other expenses:
Reinsurance assumed	65	92	33
Affiliated Entity [Member] \| Ceded
Premiums:
Reinsurance ceded	(783)	(830)	(638)
Universal life and investment-type product policy fees:
Reinsurance ceded	(299)	(361)	(344)
Other revenues:
Reinsurance ceded	246	252	325
Policyholder benefits and claims:
Reinsurance ceded	(925)	(942)	(673)
Interest credited to policyholder account balances:
Reinsurance ceded	(145)	(139)	(125)
Other expenses:
Reinsurance ceded	146	156	94
Affiliated Entity [Member] \| Reinsurance [Member]
Premiums:
Net premiums	(556)	(775)	(610)
Universal life and investment-type product policy fees:
Net universal life and investment-type product policy fees	(157)	(70)	(85)
Other revenues:
Net other revenues	246	280	326
Policyholder benefits and claims:
Net policyholder benefits and claims	(670)	(713)	(536)
Interest credited to policyholder account balances:
Net interest credited to policyholder account balances	(67)	(63)	(34)
Other expenses:
Net other expenses	$ 211	$ 248	$ 127

Reinsurance (Effects of Affiliated Reinsurance on Balance Sheets) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets:
Premiums, reinsurance and other receivables	$ 22,251	$ 21,559
Deferred policy acquisition costs and value of business acquired	4,809	4,890	$ 5,691
Total assets	27,060	26,449
Liabilities:
Future policy benefits	29,894	28,479
Policyholder account balances	35,661	35,486	$ 37,389
Other policy-related balances	3,549	3,320
Other Liabilities	7,682	7,944
Total liabilities	76,786	75,229
Assumed
Assets:
Premiums, reinsurance and other receivables	162	57
Deferred policy acquisition costs and value of business acquired	219	246
Total assets	381	303
Liabilities:
Future policy benefits	1,294	1,237
Policyholder account balances	897	827
Other policy-related balances	1,804	1,691
Other Liabilities	86	63
Total liabilities	4,081	3,818
Assumed \| Affiliated Entity [Member]
Assets:
Premiums, reinsurance and other receivables	129	45
Deferred policy acquisition costs and value of business acquired	120	164
Total assets	249	209
Liabilities:
Future policy benefits	630	593
Policyholder account balances	897	827
Other policy-related balances	1,785	1,689
Other Liabilities	27	16
Total liabilities	3,339	3,125
Ceded
Assets:
Premiums, reinsurance and other receivables	21,459	20,986
Deferred policy acquisition costs and value of business acquired	(877)	(723)
Total assets	20,582	20,263
Liabilities:
Future policy benefits	(70)	0
Policyholder account balances	0	0
Other policy-related balances	755	763
Other Liabilities	5,030	5,412
Total liabilities	5,715	6,175
Ceded \| Affiliated Entity [Member]
Assets:
Premiums, reinsurance and other receivables	12,746	12,718
Deferred policy acquisition costs and value of business acquired	(861)	(707)
Total assets	11,885	12,011
Liabilities:
Future policy benefits	(70)	0
Policyholder account balances	0	0
Other policy-related balances	755	763
Other Liabilities	4,691	5,109
Total liabilities	$ 5,376	$ 5,872

Reinsurance (Narrative) (Details) - USD ($)	12 Months Ended
Reinsurance (Narrative) (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Reinsurance Disclosures [Abstract]
Deposit assets in premiums, reinsurance, and other receivables or secondary guarantee risk for reinsurance	$ 6,000,000,000	$ 6,200,000,000
Deposit liabilities in other liabilities for reinsurance	1,000,000	1,000,000
Ceded Credit Risk [Line Items]
Reinsurance recoverables	8,500,000,000	8,100,000,000
Reinsurance Recoverables, Allowance	0	0
Future policy benefits	29,894,000,000	28,479,000,000
Other policy-related balances	3,549,000,000	3,320,000,000
Other assets	799,000,000	848,000,000
Five Largest Ceded Reinsurers [Member]
Ceded Credit Risk [Line Items]
Five largest reinsurers, reinsurance recoverables amount	$ 7,400,000,000	$ 7,100,000,000
Five largest reinsurers, reinsurance recoverables percentage	87.00%	87.00%
Ceded Credit Risk, Unsecured [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	$ 2,400,000,000	$ 2,300,000,000
Ceded Credit Risk, Unsecured [Member] \| Five Largest Ceded Reinsurers [Member]
Ceded Credit Risk [Line Items]
Five largest reinsurers, reinsurance recoverables amount	$ 1,500,000,000	1,300,000,000
Mortality Risk [Member]
Reinsurance Retention Policy [Line Items]
Reinsured risk percentage	100.00%
Percentage of reinsured risk in excess of stated amount	100.00%
Retention amount	$ 100,000
Quota Share Reinsurance for Certain Disability Business [Member]
Reinsurance Retention Policy [Line Items]
Reinsured risk percentage	100.00%
Living And Death Benefit Guarantees [Member]
Reinsurance Retention Policy [Line Items]
Reinsured risk percentage	100.00%
Fixed Annuities [Member]
Reinsurance Retention Policy [Line Items]
Reinsured risk percentage	90.00%
Variable Annuity Exeter D [Member]
Ceded Credit Risk [Line Items]
Future policy benefits		101,000,000
Other policy-related balances		1,200,000,000
Cash, Cash Equivalents, and Short-term Investments		705,000,000
Other assets		$ 553,000,000

Reinsurance (Related Party Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reinsurance Disclosures [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	$ 1,324,000,000	$ 617,000,000
Other Liabilities	7,682,000,000	7,944,000,000
Net derivatives gains (losses)	(270,000,000)	(1,049,000,000)	$ 6,267,000,000
Premiums, reinsurance and other receivables	22,251,000,000	21,559,000,000
Deferred Policy Acquisition Costs and Value of Business Acquired	4,809,000,000	4,890,000,000	5,691,000,000
Other Assets	799,000,000	848,000,000
Future policy benefits	29,894,000,000	28,479,000,000
Other Policy-Related Balances	3,549,000,000	3,320,000,000
Embedded Derivative, Fair Value of Embedded Derivative Asset	214,000,000	222,000,000
Reinsurance recoverables	8,500,000,000	8,100,000,000
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	1,054,000,000	290,000,000	1,578,000,000
Deposit Contracts, Assets	6,000,000,000	6,200,000,000
Deposit Contracts, Liabilities	1,000,000	1,000,000
Affiliated Entity [Member]
Reinsurance Disclosures [Abstract]
Reinsurance recoverables	6,300,000,000	6,200,000,000
Deposit Contracts, Assets	5,800,000,000	6,000,000,000
Deposit Contracts, Liabilities	0	0
Affiliated Entity [Member] \| Co-funds withheld MrV [Member]
Reinsurance Disclosures [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	244,000,000	382,000,000
Net derivatives gains (losses)	$ 137,000,000	(348,000,000)	518,000,000
Coinsurance Funds Withheld Basis, Percent	90.00%
Affiliated Entity [Member] \| Assumed guaranteed minimum benefits
Reinsurance Disclosures [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	$ 897,000,000	827,000,000
Net derivatives gains (losses)	(59,000,000)	(541,000,000)	$ 2,100,000,000
Affiliated Entity [Member] \| Funds Withheld On Ceded MrD2 [Member]
Reinsurance Disclosures [Abstract]
Other Liabilities	$ 79,000,000
Coinsurance Funds Withheld Basis, Percent	90.00%
Reinsurance recoverables	$ 126,000,000
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	0
Affiliated Entity [Member] \| Funds Withheld On Ceded MrD [Member]
Reinsurance Disclosures [Abstract]
Other Liabilities	$ 23,000,000	118,000,000
Coinsurance Funds Withheld Basis, Percent	90.00%
Reinsurance recoverables	$ 81,000,000	54,000,000
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	17,000,000	1,000,000
Affiliated Entity [Member] \| Separate AC Annuities MLIC [Member]
Reinsurance Disclosures [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	4,000,000	4,000,000
Other Liabilities		206,000,000
Cash, Cash Equivalents, and Short-term Investments		494,000,000
Net derivatives gains (losses)	$ 1,000,000	4,000,000
Premiums, reinsurance and other receivables		700,000,000
Affiliated Entity [Member] \| Co-funds Withheld Exeter [Member]
Reinsurance Disclosures [Abstract]
Premiums, reinsurance and other receivables		14,000,000
Deferred Policy Acquisition Costs and Value of Business Acquired		30,000,000
Other Assets		418,000,000
Future policy benefits		67,000,000
Other Policy-Related Balances		$ 435,000,000
Coinsurance Funds Withheld Basis, Percent		75.00%
Affiliated Entity [Member] \| Guaranteed Minimum Benefits Exeter [Member]
Reinsurance Disclosures [Abstract]
Other Liabilities		$ 23,000,000
Cash, Cash Equivalents, and Short-term Investments		385,000,000
Other Assets		441,000,000
Future policy benefits		284,000,000
Other Policy-Related Balances		469,000,000
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest		57,000,000
Affiliated Entity [Member] \| Guaranteed Minimum Benefits MEL [Member]
Reinsurance Disclosures [Abstract]
Other Liabilities		29,000,000
Cash, Cash Equivalents, and Short-term Investments		122,000,000
Other Assets		505,000,000
Future policy benefits		463,000,000
Other Policy-Related Balances		$ 109,000,000

Investments (Fixed Maturity and Equity Securities Available-For-Sale by Sector) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	$ 50,154	$ 46,423
Cost or Amortized Cost	384	400
Gross Unrealized OTTI Loss	19	34	$ 45
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	52,409	50,697
Equity securities	409	459
Non-income producing fixed maturity securities
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	50,154	46,423
Gross Unrealized Gain	3,089	4,542
Gross Unrealized Temporary Loss	815	234
Gross Unrealized OTTI Loss	19	34
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	52,409	50,697
U.S. corporate
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	16,160	15,286
Gross Unrealized Gain	979	1,635
Gross Unrealized Temporary Loss	393	119
Gross Unrealized OTTI Loss	0	0
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	16,746	16,802
U.S. Treasury and agency
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	12,562	14,147
Gross Unrealized Gain	1,297	1,686
Gross Unrealized Temporary Loss	53	7
Gross Unrealized OTTI Loss	0	0
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	13,806	15,826
Foreign corporate
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	4,995	5,162
Gross Unrealized Gain	153	310
Gross Unrealized Temporary Loss	194	58
Gross Unrealized OTTI Loss	0	0
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	4,954	5,414
RMBS
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	8,391	5,858
Gross Unrealized Gain	201	291
Gross Unrealized Temporary Loss	95	33
Gross Unrealized OTTI Loss	19	35
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	8,478	6,081
ABS
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	2,694	1,546
Gross Unrealized Gain	14	26
Gross Unrealized Temporary Loss	34	10
Gross Unrealized OTTI Loss	0	0
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	2,674	1,562
State and political subdivision
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	2,398	2,180
Gross Unrealized Gain	321	413
Gross Unrealized Temporary Loss	13	1
Gross Unrealized OTTI Loss	1	0
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	2,705	2,592
CMBS
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	2,303	1,637
Gross Unrealized Gain	20	45
Gross Unrealized Temporary Loss	23	4
Gross Unrealized OTTI Loss	(1)	(1)
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	2,301	1,679
Foreign government
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	651	607
Gross Unrealized Gain	104	136
Gross Unrealized Temporary Loss	10	2
Gross Unrealized OTTI Loss	0	0
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	745	741
Equity securities
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	384	400
Gross Unrealized Gain	39	69
Gross Unrealized Temporary Loss	14	10
Gross Unrealized OTTI Loss	0	0
Equity securities	409	459
Non-redeemable preferred stock
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	217	224
Gross Unrealized Gain	16	9
Gross Unrealized Temporary Loss	9	7
Gross Unrealized OTTI Loss	0	0
Equity securities	224	226
Common Stock
Available-for-sale Securities [Abstract]
Cost or Amortized Cost	167	176
Gross Unrealized Gain	23	60
Gross Unrealized Temporary Loss	5	3
Gross Unrealized OTTI Loss	0	0
Equity securities	$ 185	$ 233

Investments (Maturities of Fixed Maturity Securities) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Available-for-sale Securities, Debt Maturities [Abstract]
Amortized Cost, Due in one year or less	$ 2,667
Amortized Cost, Due after one year through five years	9,375
Amortized Cost, Due after five years through ten years	7,815
Amortized Cost, Due after ten years	16,909
Amortized Cost, Subtotal	13,388
Amortized cost of fixed maturity securities available-for-sale	50,154	$ 46,423
Estimated Fair Value, Due in one year or less	2,677
Estimated Fair Value, Due after one year through five years	9,667
Estimated Fair Value, Due after five years through ten years	7,840
Estimated Fair Value, Due after ten years	18,772
Estimated Fair Value, Subtotal	13,453
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $50,154 and $46,423, respectively)	$ 52,409	$ 50,697

Investments (Continuous Gross Unrealized Losses for Fixed Maturity and Equity Securities Available-For-Sale) (Details) $ in Millions	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Total number of securities in an unrealized loss position less than 12 months	1,850	752
Total number of securities in an unrealized loss position equal to or greater than 12 months	394	333
Fixed maturity securities
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	$ 18,228	$ 7,624
Less than 12 Months Gross Unrealized Loss	570	129
Equal to or Greater than 12 Months Estimated Fair Value	1,934	1,853
Equal to or Greater than 12 Months Gross Unrealized Loss	264	139
U.S. corporate
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	4,569	1,346
Less than 12 Months Gross Unrealized Loss	278	45
Equal to or Greater than 12 Months Estimated Fair Value	571	685
Equal to or Greater than 12 Months Gross Unrealized Loss	115	74
Foreign corporate
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	1,650	1,031
Less than 12 Months Gross Unrealized Loss	96	49
Equal to or Greater than 12 Months Estimated Fair Value	605	133
Equal to or Greater than 12 Months Gross Unrealized Loss	98	9
U.S. Treasury and agency
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	4,037	4,067
Less than 12 Months Gross Unrealized Loss	53	5
Equal to or Greater than 12 Months Estimated Fair Value	0	163
Equal to or Greater than 12 Months Gross Unrealized Loss	0	2
RMBS
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	4,305	684
Less than 12 Months Gross Unrealized Loss	73	26
Equal to or Greater than 12 Months Estimated Fair Value	495	530
Equal to or Greater than 12 Months Gross Unrealized Loss	41	42
State and political subdivision
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	373	11
Less than 12 Months Gross Unrealized Loss	12	0
Equal to or Greater than 12 Months Estimated Fair Value	19	24
Equal to or Greater than 12 Months Gross Unrealized Loss	2	1
ABS
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	1,818	334
Less than 12 Months Gross Unrealized Loss	28	2
Equal to or Greater than 12 Months Estimated Fair Value	194	231
Equal to or Greater than 12 Months Gross Unrealized Loss	6	8
CMBS
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	1,346	124
Less than 12 Months Gross Unrealized Loss	21	1
Equal to or Greater than 12 Months Estimated Fair Value	44	78
Equal to or Greater than 12 Months Gross Unrealized Loss	1	2
Foreign government
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	130	27
Less than 12 Months Gross Unrealized Loss	9	1
Equal to or Greater than 12 Months Estimated Fair Value	6	9
Equal to or Greater than 12 Months Gross Unrealized Loss	1	1
Equity securities
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	31	39
Less than 12 Months Gross Unrealized Loss	6	4
Equal to or Greater than 12 Months Estimated Fair Value	41	44
Equal to or Greater than 12 Months Gross Unrealized Loss	8	6
Non-redeemable preferred stock
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	25	28
Less than 12 Months Gross Unrealized Loss	1	1
Equal to or Greater than 12 Months Estimated Fair Value	40	44
Equal to or Greater than 12 Months Gross Unrealized Loss	8	6
Common stock
Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale
Less than 12 months Estimated Fair Value	6	11
Less than 12 Months Gross Unrealized Loss	5	3
Equal to or Greater than 12 Months Estimated Fair Value	1	0
Equal to or Greater than 12 Months Gross Unrealized Loss	$ 0	$ 0

Investments (Mortgage Loans by Portfolio Segment) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	$ 5,331	$ 4,281
Percentage of loans receivable on commercial mortgage loans	73.40%	73.30%
Agricultural mortgage loans	$ 1,460	$ 1,303
Percentage of loans receivable on agricultural mortgage loans	20.10%	22.30%
Residential	$ 335	$ 0
Percentage Of Loans And Leases Receivable Consumer Mortgage To Mortgage Loans On Real Estate Commercial And Consumer Net	4.60%	0.00%
Subtotal	$ 7,126	$ 5,584
Percentage of loans receivable on subtotal	98.10%	95.60%
Valuation allowances	$ (36)	$ (25)	$ (35)	$ (37)
Percentage of loans receivable on valuation allowances	(0.50%)	(0.40%)
Subtotal mortgage loans, net	$ 7,090	$ 5,559
Percentage of loans receivable on subtotal mortgage loans held-for-investment, net	97.60%	95.20%
Percentage of loans receivable on commercial mortgage loans held by consolidated securitization entities - fair value option	2.40%	4.80%
Mortgage loans (net of valuation allowances of $36 and $25, respectively; includes $172 and $280, respectively, at estimated fair value, relating to variable interest entities)	$ 7,262	$ 5,839
Percentage of total mortgage loans, net	100.00%	100.00%
Variable Interest Entity, Primary Beneficiary, Consolidated Securitization Entities
Mortgage Loans on Real Estate [Line Items]
Mortgage loans (net of valuation allowances of $36 and $25, respectively; includes $172 and $280, respectively, at estimated fair value, relating to variable interest entities)	$ 172	$ 280

Investments (Mortgage Loans and Valuation Allowance by Portfolio Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance	$ 4	$ 4
Recorded Investment	3	3
Valuation Allowances	0	0
Unpaid Principal Balance	0	0
Recorded Investment	0	0
Recorded Investment	7,123	5,581
Valuation Allowances	36	25
Carrying Value	3	3
Average Recorded Investment	3	46
Commercial
Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance	0	0
Recorded Investment	0	0
Valuation Allowances	0	0
Unpaid Principal Balance	0	0
Recorded Investment	0	0
Recorded Investment	5,331	4,281
Valuation Allowances	28	21
Carrying Value	0	0
Average Recorded Investment	0	43	$ 73
Agricultural
Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance	4	4
Recorded Investment	3	3
Valuation Allowances	0	0
Unpaid Principal Balance	0	0
Recorded Investment	0	0
Recorded Investment	1,457	1,300
Valuation Allowances	5	4
Carrying Value	3	3
Average Recorded Investment	3	3	2
Residential
Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance	0	0
Recorded Investment	0	0
Valuation Allowances	0	0
Unpaid Principal Balance	0	0
Recorded Investment	0	0
Recorded Investment	335	0
Valuation Allowances	3	0
Carrying Value	0	0
Average Recorded Investment	$ 0	$ 0	$ 0

Investments (Valuation Allowance Rollforward by Portfolio Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Mortgage Loans on Real Estate [Line Items]
Beginning Balance	$ 25	$ 35	$ 37
Provision (release)	11	(10)	(2)
Ending Balance	36	25	35
Commercial
Mortgage Loans on Real Estate [Line Items]
Beginning Balance	21	31	34
Provision (release)	7	(10)	(3)
Ending Balance	28	21	31
Agricultural
Mortgage Loans on Real Estate [Line Items]
Beginning Balance	4	4	3
Provision (release)	1	0	1
Ending Balance	5	4	4
Residential
Mortgage Loans on Real Estate [Line Items]
Beginning Balance	0	0	0
Provision (release)	3	0	0
Ending Balance	$ 3	$ 0	$ 0

Investments (Credit Quality of Commercial Mortgage Loans) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	$ 5,331	$ 4,281
% of Total	100.00%	100.00%
Estimated Fair Value	$ 5,534	$ 4,658
% of Total	100.00%	100.00%
Less than 65%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	$ 4,910	$ 4,060
% of Total	92.10%	94.80%
Estimated Fair Value	$ 5,124	$ 4,431
% of Total	92.60%	95.10%
65% to 75%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	$ 338	$ 127
% of Total	6.30%	3.00%
Estimated Fair Value	$ 330	$ 134
% of Total	6.00%	2.90%
76% to 80%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	$ 0	$ 9
% of Total	0.00%	0.20%
Estimated Fair Value	$ 0	$ 10
% of Total	0.00%	0.20%
Greater than 80%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	$ 83	$ 85
% of Total	1.60%	2.00%
Estimated Fair Value	$ 80	$ 83
% of Total	1.40%	1.80%
Greater than 1.20x
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	$ 5,033	$ 3,835
Greater than 1.20x \| Less than 65%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	4,659	3,668
Greater than 1.20x \| 65% to 75%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	330	113
Greater than 1.20x \| 76% to 80%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	0	9
Greater than 1.20x \| Greater than 80%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	44	45
1.00x - 1.20x
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	176	307
1.00x - 1.20x \| Less than 65%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	151	267
1.00x - 1.20x \| 65% to 75%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	0	14
1.00x - 1.20x \| 76% to 80%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	0	0
1.00x - 1.20x \| Greater than 80%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	25	26
Less than 1.00x
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	122	139
Less than 1.00x \| Less than 65%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	100	125
Less than 1.00x \| 65% to 75%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	8	0
Less than 1.00x \| 76% to 80%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	0	0
Less than 1.00x \| Greater than 80%
Mortgage Loans on Real Estate [Line Items]
Commercial mortgage loans	$ 14	$ 14

Investments (Credit Quality of Agricultural and Residential Mortgage Loans) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Agricultural Mortgage Loans - by Credit Quality Indicator:
Recorded investment in Mortgage Loan	$ 1,460	$ 1,303
% of Total	100.00%	100.00%
Less than 65%
Agricultural Mortgage Loans - by Credit Quality Indicator:
Recorded investment in Mortgage Loan	$ 1,366	$ 1,239
% of Total	93.60%	95.10%
65% to 75%
Agricultural Mortgage Loans - by Credit Quality Indicator:
Recorded investment in Mortgage Loan	$ 94	$ 64
% of Total	6.40%	4.90%

Investments (Investment in Leverage Leases) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Investment in leveraged leases
Rental receivables, net	$ 90	$ 92
Estimated residual values	14	14
Subtotal	104	106
Unearned income	(33)	(34)
Investment in leveraged leases, net of non-recourse debt	$ 71	$ 72

Investments (Net Unrealized Investment Gains Losses) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components of net unrealized investment gains (losses) included in accumulated other comprehensive loss
Fixed maturity securities	$ 2,265	$ 4,311	$ 1,884
Fixed maturity securities with noncredit OTTI losses in AOCI	(19)	(34)	(45)
Total fixed maturity securities	2,246	4,277	1,839
Equity securities	54	69	13
Derivatives	368	282	38
Other	78	9	(71)
Subtotal	2,746	4,637	1,819
Future policy benefits	(56)	(503)	0
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	(1)	(2)	0
DAC, VOBA and DSI	(198)	(403)	(287)
Subtotal	(255)	(908)	(287)
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	7	12	15
Deferred income tax benefit (expense)	(844)	(1,308)	(606)
Net unrealized investment gains (losses)	$ 1,654	$ 2,433	$ 941

Investments (Changes in Fixed Maturity Securities with Noncredit OTTI Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Changes in fixed maturity securities with noncredit OTTI losses in accumulated other comprehensive income (loss)
Balance at January 1,	$ (34)	$ (45)
Noncredit OTTI losses recognized	9	6
Securities sold with previous noncredit OTTI loss	17	9
Subsequent changes in estimated fair value	(11)	(4)
Balance at December 31,	$ (19)	$ (34)

Investments (Changes in Net Unrealized Investment Gains Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes In Net Unrealized Investment Gains Losses Included In Accumulated Other Comprehensive Loss [Abstract]
Balance at January 1,	$ 2,433	$ 941	$ 2,569
Fixed maturity securities on which noncredit OTTI losses have been recognized	15	11	25
Unrealized investment gains (losses) during the year	(1,906)	2,807	(3,601)
Unrealized investment gains (losses) relating to [Abstract]
Future policy benefits	447	(503)	740
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	1	(2)	(5)
DAC, VOBA and DSI	205	(116)	403
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	(5)	(3)	(7)
Deferred income tax benefit (expense)	464	(702)	817
Balance at December 31,	1,654	2,433	941
Change in net unrealized investment gains (losses)	$ (779)	$ 1,492	$ (1,628)

Investments (Securities Lending) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Securities Financing Transaction [Line Items]
Cash collateral on deposit from counterparties	$ 8,981	$ 6,781
Security collateral on deposit from counterparties	23	60
Reinvestment portfolio — estimated fair value	8,938	6,846
Amortized cost
Securities Financing Transaction [Line Items]
Securities loaned	8,047	5,748
Estimated fair value
Securities Financing Transaction [Line Items]
Securities loaned	$ 8,830	$ 6,703

Investments (Securities Lending Remaining Tenor) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Securities Financing Transaction [Line Items]
Total	$ 8,981	$ 6,781
% of Total	100.00%	100.00%
Open
Securities Financing Transaction [Line Items]
Total	$ 2,641	$ 2,654
1 Month of Less
Securities Financing Transaction [Line Items]
Total	4,423	2,763
6 Months to 1 Year
Securities Financing Transaction [Line Items]
Total	1,917	1,364
U.S. Treasury and agency
Securities Financing Transaction [Line Items]
Total	$ 7,109	$ 6,051
% of Total	79.10%	89.20%
U.S. Treasury and agency \| Open
Securities Financing Transaction [Line Items]
Total	$ 2,631	$ 2,618
U.S. Treasury and agency \| 1 Month of Less
Securities Financing Transaction [Line Items]
Total	3,140	2,611
U.S. Treasury and agency \| 6 Months to 1 Year
Securities Financing Transaction [Line Items]
Total	1,338	822
Agency RMBS
Securities Financing Transaction [Line Items]
Total	$ 1,518	$ 637
% of Total	16.90%	9.40%
Agency RMBS \| Open
Securities Financing Transaction [Line Items]
Total	$ 0	$ 0
Agency RMBS \| 1 Month of Less
Securities Financing Transaction [Line Items]
Total	939	95
Agency RMBS \| 6 Months to 1 Year
Securities Financing Transaction [Line Items]
Total	579	542
Foreign corporate
Securities Financing Transaction [Line Items]
Total	$ 0	$ 44
% of Total	0.00%	0.70%
Foreign corporate \| Open
Securities Financing Transaction [Line Items]
Total	$ 0	$ 22
Foreign corporate \| 1 Month of Less
Securities Financing Transaction [Line Items]
Total	0	22
Foreign corporate \| 6 Months to 1 Year
Securities Financing Transaction [Line Items]
Total	0	0
U.S. corporate
Securities Financing Transaction [Line Items]
Total	$ 311	$ 42
% of Total	3.50%	0.60%
U.S. corporate \| Open
Securities Financing Transaction [Line Items]
Total	$ 9	$ 7
U.S. corporate \| 1 Month of Less
Securities Financing Transaction [Line Items]
Total	302	35
U.S. corporate \| 6 Months to 1 Year
Securities Financing Transaction [Line Items]
Total	0	0
Foreign government
Securities Financing Transaction [Line Items]
Total	$ 43	$ 7
% of Total	0.50%	0.10%
Foreign government \| Open
Securities Financing Transaction [Line Items]
Total	$ 1	$ 7
Foreign government \| 1 Month of Less
Securities Financing Transaction [Line Items]
Total	42	0
Foreign government \| 6 Months to 1 Year
Securities Financing Transaction [Line Items]
Total	$ 0	$ 0

Investments (Invested Assets on Deposit, Held In Trust and Pledged as Collateral) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Invested assets on deposit	$ 7,245	$ 7,334
Assets Held-in-trust	952	936
Invested assets pledged as collateral	2,801	3,174
Total invested assets on deposit, held in trust, and pledged as collateral	$ 10,998	$ 11,444

Investments (PCI Investments by Invested Asset Class) (Details) - Fixed maturity securities - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Purchased credit impaired investments, by invested asset class, held:
Outstanding principal and interest balance	$ 1,224	$ 653
Carrying value	$ 911	$ 504

Investments (PCI Investments Acquired) (Details) - Fixed maturity securities - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Purchased credit impaired investments as of their respective acquisition dates
Contractually required payments (including interest)	$ 785	$ 102
Cash flows expected to be collected	698	78
Fair value of investments acquired	$ 512	$ 54

Investments (Activity For Accretable Yield on PCI Investments) (Details) - Fixed maturity securities - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accretable yield on purchased distressed assets acquired
Accretable yield, January 1,	$ 251	$ 315
Accretion recognized in earnings	(48)	(25)
Disposals	(8)	(13)
Reclassification (to) from nonaccretable difference	19	(50)
Accretable yield, December 31,	400	251
Investments Purchased [Member]
Accretable yield on purchased distressed assets acquired
Additions	$ 186	$ 24

Investments (Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Assets:
Accrued investment income relating to variable interest entities	$ 505	$ 501
Liabilities
Long-term debt, at estimated fair value, relating to variable interest entities	836	928
Other liabilities relating to variable interest entities	7,682	7,944
Consolidated securitization entities
Assets:
Mortgage loans (commercial mortgage loans)	172	280
Accrued investment income relating to variable interest entities	1	2
Total assets	173	282
Liabilities
Long-term debt, at estimated fair value, relating to variable interest entities	48	139
Other liabilities relating to variable interest entities	1	1
Total liabilities	$ 49	$ 140

Investments (Unconsolidated Variable Interest Entities) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Variable Interest Entity [Line Items]
Carrying Amount Asset	$ 15,373	$ 11,725
Carrying Amount Liability	15,661	12,127
Other limited partnership interests
Variable Interest Entity [Line Items]
Carrying Amount Asset	1,367	1,774
Carrying Amount Liability	1,647	2,162
Other
Variable Interest Entity [Line Items]
Carrying Amount Asset	92	103
Carrying Amount Liability	100	117
Structured securities (RMBS, CMBS, and ABS) [Member]
Variable Interest Entity [Line Items]
Carrying Amount Asset	13,453	9,322
Carrying Amount Liability	13,453	9,322
U.S. and foreign corporate
Variable Interest Entity [Line Items]
Carrying Amount Asset	461	526
Carrying Amount Liability	$ 461	$ 526

Investments (Net Investment Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Investment Income [Line Items]
Gross Investment Income, Operating	$ 2,599	$ 2,620	$ 2,867
Less: Investment expenses	115	103	124
Net investment income	2,615	2,669	2,999
Securities Investment
Net Investment Income [Line Items]
Gross Investment Income, Operating	2,714	2,723	2,991
Fixed maturity securities
Net Investment Income [Line Items]
Gross Investment Income, Operating	2,010	1,954	2,235
Equity securities
Net Investment Income [Line Items]
Gross Investment Income, Operating	18	17	13
Mortgage loans
Net Investment Income [Line Items]
Gross Investment Income, Operating	360	337	360
Policy loans
Net Investment Income [Line Items]
Gross Investment Income, Operating	54	59	57
Real estate and real estate joint ventures
Net Investment Income [Line Items]
Gross Investment Income, Operating	108	80	56
Other limited partnership interests
Net Investment Income [Line Items]
Gross Investment Income, Operating	134	266	270
Cash, cash equivalents and short-term investments
Net Investment Income [Line Items]
Gross Investment Income, Operating	8	5	7
Operating joint venture
Net Investment Income [Line Items]
Gross Investment Income, Operating	11	2	(5)
Other
Net Investment Income [Line Items]
Gross Investment Income, Operating	11	3	(2)
Commercial Loan [Member] \| Variable Interest Entity, Primary Beneficiary, Consolidated Securitization Entities
Net Investment Income [Line Items]
Gross Investment Income, Operating	16	49	132
Consolidated Securitization Entities And Fair Value Option Contractholder-Directed Unit-Linked
Net Investment Income [Line Items]
Gross Investment Income, Operating	$ 16	$ 49	$ 132

Investments (Components of Net Investment Gains Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Marketable Securities, Gain (Loss) [Abstract]
Fixed maturity securities — net gains (losses) on sales and disposals	$ (34)	$ 26	$ 61
Equity securities — net gains (losses) on sales and disposals	18	14	10
Other net investment gains (losses):
Mortgage loans	(11)	17	5
Real estate and real estate joint ventures	98	(4)	2
Other limited partnership interests	(1)	(9)	(6)
Other	(2)	43	(2)
Subtotal	40	60	45
FVO CSEs - changes in estimated fair value:
Commercial mortgage loans	(7)	(13)	(56)
Long-term debt — related to commercial mortgage loans	4	19	88
Non-investment portfolio gains (losses)	(1)	(535)	(50)
Subtotal	(4)	(529)	(18)
Total net investment gains (losses)	36	(469)	27
Fixed maturity securities
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	(25)	(12)	(20)
Net investment gains (losses)	(59)	14	41
Consumer
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	(8)	(2)	0
Industrial
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	(3)	0	0
Transportation
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	0	(2)	(3)
Finance
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	0	0	(3)
U.S. and foreign corporate
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	(11)	(4)	(6)
RMBS
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	(14)	(8)	(14)
Equity securities
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	(3)	(15)	(5)
Net investment gains (losses)	15	(1)	5
Common Stock
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	(3)	(7)	(2)
Non-redeemable preferred stock
Marketable Securities, Gain (Loss) [Abstract]
Total OTTI losses recognized in earnings	$ 0	$ (8)	$ (3)

Investments (Sales or Disposals and Impairments of Fixed Maturity and Equity Securities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fixed maturity securities
Components of Sales or Disposals of Fixed Maturity and Equity Securities
Proceeds	$ 29,937	$ 14,649	$ 11,719
Gross investment gains	165	84	194
Gross investment losses	(199)	(58)	(133)
Total OTTI losses recognized in earnings:
Total OTTI losses recognized in earnings	(25)	(12)	(20)
Net investment gains (losses)	(59)	14	41
Equity securities
Components of Sales or Disposals of Fixed Maturity and Equity Securities
Proceeds	80	57	75
Gross investment gains	25	15	18
Gross investment losses	(7)	(1)	(8)
Total OTTI losses recognized in earnings:
Total OTTI losses recognized in earnings	(3)	(15)	(5)
Net investment gains (losses)	$ 15	$ (1)	$ 5

Investments (Credit Loss Rollforward) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Balance at January 1,	$ 57	$ 59
Additions:
Initial impairments — credit loss OTTI on securities not previously impaired	1	0
Additional impairments — credit loss OTTI on securities previously impaired	11	7
Reductions:
Sales (maturities, pay downs or prepayments) of securities previously impaired as credit loss OTTI	(14)	(9)
Increase in cash flows — accretion of previous credit loss OTTI	(3)	0
Balance at December 31,	$ 52	$ 57

Investments (Related Party Investment Transactions) (Details) - Affiliated Entity [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Invested Assets Transferred To and From Affiliates
Estimated fair value of invested assets transferred to affiliates	$ 185	$ 1,441	$ 874
Amortized cost of invested assets transferred to affiliates	169	1,362	827
Net investment gains (losses) recognized on transfers	16	79	47
Estimated fair value of invested assets transferred from affiliates	$ 928	$ 132	$ 834

Investments (Fixed Maturity and Equity Securities Available-For-Sale - Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized OTTI Loss	$ (19)	$ (34)	$ (45)
Summary of Certain Fixed Maturity Securities
Available-for-sale Securities, Debt Securities	52,409	50,697
Fixed maturity securities
Summary of Certain Fixed Maturity Securities
Available-for-sale Securities, Debt Securities	11	14
Gross Unrealized Gain	1	4
Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized OTTI Loss	1	1
Summary of Certain Fixed Maturity Securities
Available-for-sale Securities, Debt Securities	2,301	1,679
Gross Unrealized Gain	$ 20	$ 45

Investments (Evaluation of Available-For-Sale Securities for OTTI and Evaluating Temporarily Impaired AFS Securities - Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) Contracts
Schedule of Available-for-sale Securities [Line Items]
Equity securities available-for-sale with gross unrealized loss of equal to or greater than stated percentage	20.00%
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss) before Taxes	$ 566
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss	834
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss) before Taxes	4
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss	14
Twenty Percent Or More \| Six months or greater \| Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss	$ 68
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions \| Contracts	21
Twenty Percent Or More \| Six months or greater \| Fixed maturity securities \| External Credit Rating, Investment Grade
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss	$ 48
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions \| Contracts	11
Percentage of gross unrealized loss	71.00%
Twenty Percent Or More \| Six months or greater \| Fixed maturity securities \| External Credit Rating, Non Investment Grade
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss	$ 20
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions \| Contracts	10
Percentage of gross unrealized loss	29.00%
Twenty Percent Or More \| Twelve months or greater \| Equity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions \| Contracts	2
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss	$ 5
Twenty Percent Or More \| Twelve months or greater \| Non-redeemable preferred stock \| Aaa Aa \| Banks, Trust and Insurance, Equities
Schedule of Available-for-sale Securities [Line Items]
Percentage of gross unrealized loss	40.00%

Investments (Mortgage Loans - Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) Contracts	Dec. 31, 2014 USD ($) Contracts	Dec. 31, 2013 USD ($)
Financing Receivable, Recorded Investment [Line Items]
Average Recorded Investment	$ 3	$ 46
Financing Receivable, Significant Purchases	$ 346	$ 0
Percentage of Mortgage Loans Classified as Performing	99.00%	99.00%
Residential	$ 335	$ 0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts	0	0
Agricultural Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Average Recorded Investment	$ 3	$ 3	$ 2
Estimated fair value of mortgage loans held-for-investment	$ 1,500	$ 1,400
Number of mortgage loans in nonaccrual status \| Contracts	0	0
Loans and Leases Receivable, Number of Contract, Nonperforming, Nonaccrual of Interest \| Contracts	0	0
Financing Receivable Number of Contract of Recorded Investment Past Due \| Contracts	0	0
Commercial Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Average Recorded Investment	$ 0	$ 43	73
Number of mortgage loans in nonaccrual status \| Contracts	0	0
Loans and Leases Receivable, Number of Contract, Nonperforming, Nonaccrual of Interest \| Contracts	0	0
Financing Receivable Number of Contract of Recorded Investment Past Due \| Contracts	0	0
Residential
Financing Receivable, Recorded Investment [Line Items]
Average Recorded Investment	$ 0	$ 0	0
Estimated fair value of mortgage loans held-for-investment	345
Residential	335	0
Past due status of mortgage loans	4
Financing Receivable, Recorded Investment, Past Due	4
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	4
Performing
Financing Receivable, Recorded Investment [Line Items]
Residential	331
Affiliated Entity [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Significant Sales	2,000	360	787
Related Party Transaction, Amounts of Transaction	$ 973	$ 1,000	$ 1,500

Investments (Investments in Tax Credit Partnerships - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]
Carrying value of Tax Credits	$ 42	$ 39
Losses From Tax Credits	$ (1)	$ 3	$ (1)

Investments (Leverage Leases - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Leveraged Leases [Abstract]
Deferred income tax liability related to leveraged leases	$ 76	$ 71
Percentage of rental receivables performing	100.00%	100.00%
Minimum
Lessor Leasing Arrangements, Operating Leases, Term of Contract	1 year
Maximum
Lessor Leasing Arrangements, Operating Leases, Term of Contract	17 years

Investments (Cash Equivalents - Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Cash equivalents	$ 1,100	$ 681

Investments (Concentrations of Credit Risk - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Securities holdings exposure in single issuer greater than stated percentage of Company's equity	10.00%
Investments in any counterparty that were greater than 10% of equity	$ 0	$ 0

Investments (Securities Lending Remaining Tenor - Narrative) (Details) $ in Billions	Dec. 31, 2015 USD ($)
Estimated fair value
Securities Financing Transaction [Line Items]
Securities Loaned, Not Subject to Master Netting Arrangement	$ 2.6
Minimum \| U.S. Treasury and agency
Securities Financing Transaction [Line Items]
Percentage Of US Treasury And Agency Securities At Estimated Fair Value Of Securities On Loan Relating To Cash Collateral On Open	99.00%
Securities Investment \| Estimated fair value
Securities Financing Transaction [Line Items]
Percentage of Reinvestment Portfolio in Fixed Maturity Securities	51.00%

Investments (Collectively Significant Equity Method Investments - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity Method Investment, Summarized Financial Information, Gross Profit (Loss)
Carrying Value of investments accounted for under the equity method	$ 2,600
Unfunded commitments for investments accounted for under the equity method	791
Total assets for investments accounted for under the equity method	294,300	$ 264,700
Total liabilities for investments accounted for under the equity method	46,300	23,200
Net Income (loss) for investments accounted for under the equity method	$ 13,700	$ 25,100	$ 20,900
Aggregate Net income Exceeded Stated Percentage Of The Pre Tax Income (Loss) From Continuing Operations	10.00%	10.00%	10.00%

- Definition

The amount of net income (loss) reported by an equity method investment of the entity.

+ References + Details

Investments (Consolidated Variable Interest Entities - Narrative) (Details) - Consolidated Securitization Entities - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Variable Interest Entity [Line Items]
Variable interest, maximum exposure to loss in consolidated securitization entities	$ 105	$ 123
Long-term debt held by consolidated securitization entities, percentage range minimum	2.25%	2.25%	2.25%
Long-term debt held by consolidated securitization entities, percentage range maximum	5.57%	5.57%	5.57%
Interest expense on long-term debt held by consolidated securitization entities	$ 8	$ 36	$ 122

Investments (Unconsolidated Variable Interest Entities - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Variable Interest Entity [Line Items]
Financial or other support to investees designated as VIEs	$ 0	$ 0	$ 0
Maximum
Variable Interest Entity [Line Items]
Tax Credits Guaranteed By Third Parties Amount That Reduces Maximum Exposure To Loss Related To Other Invested Assets	$ 1	$ 1

Investments (Net Investment Gains Losses - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Other investment portfolio gains (losses)	$ 2	$ (43)	$ 2
Gains (losses) from foreign currency transactions	$ (6)	66	$ (59)
MetLife Assurance Limited
Schedule of Available-for-sale Securities [Line Items]
Other investment portfolio gains (losses)		$ 608

Investments (Related Party Investment Transactions - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Aug. 31, 2015	Nov. 30, 2014
Related Party Transaction [Line Items]
Related party net investment income	$ 31	$ 16	$ 1
Related party investment administrative services	68	62	76
Commercial
Related Party Transaction [Line Items]
Related party net investment income	8	34	16
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Assets Transferred From Affiliates, Estimated Fair Value	928	132	834
Assets Transferred To Affiliates, Estimated Fair Value	185	1,441	874
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale, Gain (Loss) on Sale	16	79	47
Affiliated Entity [Member] \| Commercial
Related Party Transaction [Line Items]
Carrying value of related party loans		242
Affiliated Entity [Member] \| Other invested assets [Member]
Related Party Transaction [Line Items]
Related party net investment income		13	28
Related Party Loan One [Member] \| Affiliated Entity [Member] \| Commercial
Related Party Transaction [Line Items]
Carrying value of related party loans				$ 132
Related Party Loan Two [Member] \| Affiliated Entity [Member] \| Commercial
Related Party Transaction [Line Items]
Carrying value of related party loans					$ 120
Related Party Loan Three [Member] \| Affiliated Entity [Member] \| Commercial
Related Party Transaction [Line Items]
Carrying value of related party loans	110
Maximum
Related Party Transaction [Line Items]
Related party net investment income	$ 1	0
Parent Company \| Affiliated Entity [Member]
Related Party Transaction [Line Items]
Assets Transferred From Affiliates, Estimated Fair Value			751
Assets Transferred To Affiliates, Estimated Fair Value			$ 739
MetLife Investors USA Insurance Company [Member] \| Affiliated Entity [Member]
Related Party Transaction [Line Items]
Assets Transferred From Affiliates, Estimated Fair Value		520
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale, Gain (Loss) on Sale		$ 45

Derivatives (Primary Risks) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Gross Notional Amount	$ 133,176	$ 132,802
Estimated Fair Value Assets	3,893	3,576
Estimated Fair Value Liabilities	1,782	1,818
Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Gross Notional Amount	1,622	1,631
Estimated Fair Value Assets	232	215
Estimated Fair Value Liabilities	4	11
Derivatives Designated as Hedging Instruments \| Fair Value Hedges [Member] \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Gross Notional Amount	420	379
Estimated Fair Value Assets	38	33
Estimated Fair Value Liabilities	1	2
Derivatives Designated as Hedging Instruments \| Cash Flow Hedges [Member]
Derivatives, Fair Value [Line Items]
Gross Notional Amount	1,202	1,252
Estimated Fair Value Assets	194	182
Estimated Fair Value Liabilities	3	9
Derivatives Designated as Hedging Instruments \| Cash Flow Hedges [Member] \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Gross Notional Amount	230	369
Estimated Fair Value Assets	60	81
Estimated Fair Value Liabilities	0	0
Derivatives Designated as Hedging Instruments \| Cash Flow Hedges [Member] \| Interest rate forwards
Derivatives, Fair Value [Line Items]
Gross Notional Amount	35	155
Estimated Fair Value Assets	8	45
Estimated Fair Value Liabilities	0	0
Derivatives Designated as Hedging Instruments \| Cash Flow Hedges [Member] \| Foreign currency swaps
Derivatives, Fair Value [Line Items]
Gross Notional Amount	937	728
Estimated Fair Value Assets	126	56
Estimated Fair Value Liabilities	3	9
Derivatives Not Designated or Not Qualifying as Hedging Instruments
Derivatives, Fair Value [Line Items]
Gross Notional Amount	131,554	131,171
Estimated Fair Value Assets	3,661	3,361
Estimated Fair Value Liabilities	1,778	1,807
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Gross Notional Amount	23,134	25,919
Estimated Fair Value Assets	1,804	1,709
Estimated Fair Value Liabilities	638	601
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Interest rate floors
Derivatives, Fair Value [Line Items]
Gross Notional Amount	7,036	16,404
Estimated Fair Value Assets	33	83
Estimated Fair Value Liabilities	24	69
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Interest rate caps
Derivatives, Fair Value [Line Items]
Gross Notional Amount	13,792	7,901
Estimated Fair Value Assets	38	11
Estimated Fair Value Liabilities	0	0
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Interest rate futures
Derivatives, Fair Value [Line Items]
Gross Notional Amount	630	325
Estimated Fair Value Assets	2	1
Estimated Fair Value Liabilities	0	0
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Interest Rate Swaption [Member]
Derivatives, Fair Value [Line Items]
Gross Notional Amount	18,620	29,870
Estimated Fair Value Assets	472	446
Estimated Fair Value Liabilities	5	16
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Foreign currency swaps
Derivatives, Fair Value [Line Items]
Gross Notional Amount	659	672
Estimated Fair Value Assets	75	59
Estimated Fair Value Liabilities	0	4
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Foreign currency forwards
Derivatives, Fair Value [Line Items]
Gross Notional Amount	185	48
Estimated Fair Value Assets	4	3
Estimated Fair Value Liabilities	1	0
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Credit default swaps — purchased
Derivatives, Fair Value [Line Items]
Gross Notional Amount	21	45
Estimated Fair Value Assets	0	0
Estimated Fair Value Liabilities	0	1
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Credit default swaps — written
Derivatives, Fair Value [Line Items]
Gross Notional Amount	2,093	1,924
Estimated Fair Value Assets	13	29
Estimated Fair Value Liabilities	1	1
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Equity futures
Derivatives, Fair Value [Line Items]
Gross Notional Amount	3,669	3,086
Estimated Fair Value Assets	37	34
Estimated Fair Value Liabilities	0	0
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Equity index options
Derivatives, Fair Value [Line Items]
Gross Notional Amount	44,035	27,212
Estimated Fair Value Assets	1,032	854
Estimated Fair Value Liabilities	626	613
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Equity variance swaps
Derivatives, Fair Value [Line Items]
Gross Notional Amount	14,866	15,433
Estimated Fair Value Assets	120	120
Estimated Fair Value Liabilities	434	435
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| TRRs
Derivatives, Fair Value [Line Items]
Gross Notional Amount	2,814	2,332
Estimated Fair Value Assets	31	12
Estimated Fair Value Liabilities	$ 49	$ 67

Derivatives (Net Derivative Gains Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components of Net Derivatives Gains (Losses)
Derivatives and hedging gains (losses)	$ (154)	$ 868	$ (5,826)
Embedded derivatives gains (losses)	(270)	(1,049)	6,267
Total net derivative gains (losses)	$ (424)	$ (181)	$ 441

Derivatives (Earned Income On Derivatives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Total earned income	$ 383	$ 308	$ (445)
Derivatives Designated as Hedging Instruments \| Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Total earned income	11	4	2
Derivatives Designated as Hedging Instruments \| Interest credited to policyholder account balances
Derivative Instruments, Gain (Loss) [Line Items]
Total earned income	(2)	(1)	2
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Net derivative gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Total earned income	360	273	(157)
Derivatives Not Designated or Not Qualifying as Hedging Instruments \| Policyholder benefits and claims
Derivative Instruments, Gain (Loss) [Line Items]
Total earned income	$ 14	$ 32	$ (292)

Derivatives (Fair Value Hedges) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	$ (3)	$ (33)	$ 21
Net Derivative Gains (Losses) Recognized for Hedged Items	1	32	(17)
Ineffectiveness Recognized in Net Derivative Gains (Losses)	2	1	(4)
Interest rate swaps \| Fixed maturity securities
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	(1)	(1)	(7)
Net Derivative Gains (Losses) Recognized for Hedged Items	(1)	1	9
Ineffectiveness Recognized in Net Derivative Gains (Losses)	2	0	(2)
Interest rate swaps \| Policyholder account balances
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	(2)	(32)	30
Net Derivative Gains (Losses) Recognized for Hedged Items	2	31	(28)
Ineffectiveness Recognized in Net Derivative Gains (Losses)	0	1	(2)
Foreign currency swaps \| Foreign-denominated policyholder account balances [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	0	0	(2)
Net Derivative Gains (Losses) Recognized for Hedged Items	0	0	2
Ineffectiveness Recognized in Net Derivative Gains (Losses)	$ 0	$ 0	$ 0

Derivatives (Credit Derivatives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 12	$ 28
Maximum Amount of Future Payments under Credit Default Swaps	$ 2,093	$ 1,924
Weighted Average Years to Maturity	3 years 9 months	3 years 9 months
Aaa/Aa/A
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 2	$ 3
Maximum Amount of Future Payments under Credit Default Swaps	$ 426	$ 289
Weighted Average Years to Maturity	2 years 9 months	1 year 8 months
Aaa/Aa/A \| Single name credit default swaps (corporate)
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 1	$ 2
Maximum Amount of Future Payments under Credit Default Swaps	$ 207	$ 155
Weighted Average Years to Maturity	1 year 6 months	2 years 1 month
Aaa/Aa/A \| Credit default swaps referencing indices
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 1	$ 1
Maximum Amount of Future Payments under Credit Default Swaps	$ 219	$ 134
Weighted Average Years to Maturity	4 years	1 year 3 months
Baa
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 10	$ 23
Maximum Amount of Future Payments under Credit Default Swaps	$ 1,631	$ 1,599
Weighted Average Years to Maturity	4 years	4 years 2 months
Baa \| Single name credit default swaps (corporate)
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 2	$ 5
Maximum Amount of Future Payments under Credit Default Swaps	$ 409	$ 454
Weighted Average Years to Maturity	1 year 7 months	2 years 3 months
Baa \| Credit default swaps referencing indices
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 8	$ 18
Maximum Amount of Future Payments under Credit Default Swaps	$ 1,222	$ 1,145
Weighted Average Years to Maturity	4 years 9 months	5 years
B
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 0	$ 2
Maximum Amount of Future Payments under Credit Default Swaps	$ 36	$ 36
Weighted Average Years to Maturity	5 years	5 years
B \| Single name credit default swaps (corporate)
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 0	$ 0
Maximum Amount of Future Payments under Credit Default Swaps	$ 0	$ 0
Weighted Average Years to Maturity	0 years	0 years
B \| Credit default swaps referencing indices
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 0	$ 2
Maximum Amount of Future Payments under Credit Default Swaps	$ 36	$ 36
Weighted Average Years to Maturity	5 years	5 years

Derivatives (Estimated Fair Value of Derivatives Assets and Liabilities after Master Netting Agreements and Cash) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset Excluding Accruals	$ 3,987	$ 3,664
Derivative Liability, Fair Value, Gross Liability Excluding Accruals	1,803	1,840
Amounts offset in the consolidated balance sheets, Assets	0	0
Amounts offset in the consolidated balance sheets, Liabilities	0	0
Net amount of derivative assets after application of master netting agreements and cash collateral	175	92
Net amount of derivative liabilities after application of master netting agreements and cash collateral	0	1
Estimated fair value of derivative assets presented in the consolidated balance sheets	3,987	3,664
Estimated fair value of derivative liabilities presented in the consolidated balance sheets	1,803	1,840
Over the Counter [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset Excluding Accruals	3,870	3,554
Derivative Liability, Fair Value, Gross Liability Excluding Accruals	1,725	1,767
Gross estimated fair value of derivative assets	(1,577)	(1,592)
Gross estimated fair value of derivative liabilities	(1,577)	(1,592)
Cash collateral on derivative assets	(1,605)	(753)
Cash collateral on derivative liabilities	0	0
Securities collateral on derivative assets	(552)	(1,152)
Securities collateral on derivative liabilities	(148)	(175)
Exchange-cleared [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset Excluding Accruals	78	75
Derivative Liability, Fair Value, Gross Liability Excluding Accruals	78	73
Gross estimated fair value of derivative assets	(70)	(54)
Gross estimated fair value of derivative liabilities	(70)	(54)
Cash collateral on derivative assets	(8)	(21)
Cash collateral on derivative liabilities	(8)	(18)
Securities collateral on derivative assets	0	0
Securities collateral on derivative liabilities	0	0
Exchange-traded [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset Excluding Accruals	39	35
Derivative Liability, Fair Value, Gross Liability Excluding Accruals	0	0
Gross estimated fair value of derivative assets	0	0
Gross estimated fair value of derivative liabilities	0	0
Cash collateral on derivative assets	0	0
Cash collateral on derivative liabilities	0	0
Securities collateral on derivative assets	0	0
Securities collateral on derivative liabilities	0	0
Off-Balance Sheet [Member] \| Over the Counter [Member]
Offsetting Assets [Line Items]
Cash collateral on derivative assets	$ 0	$ (121)

Derivatives (Credit Risk on Freestanding Derivatives) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Credit Derivatives [Line Items]
Estimated Fair Value of Derivatives in Net Liability Position	$ 148	$ 175
Fair Value Of Incremental Collateral Provided Upon A One Notch Downgrade In The Company's Credit Rating	0	0
Fair Value Of Incremental Collateral Provided Upon A Downgrade In The Company's Credit Rating to a Level that Triggers Full Overnight Collateralization or Termination of the Derivative Position	0	0
Fixed Maturity Securities
Credit Derivatives [Line Items]
Estimated Fair Value of Collateral Provided	179	192
Cash
Credit Derivatives [Line Items]
Estimated Fair Value of Collateral Provided	$ 0	$ 0

Derivatives (Embedded Derivatives) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Embedded Derivative, Fair Value of Embedded Derivative, Net [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Asset	$ 214	$ 222
Embedded Derivative, Fair Value of Embedded Derivative Liability	1,324	617
Ceded guaranteed minimum benefits \| Premiums, reinsurance and other receivables
Embedded Derivative, Fair Value of Embedded Derivative, Net [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Asset	242	217
Direct guaranteed minimum benefits \| Policyholder account balances
Embedded Derivative, Fair Value of Embedded Derivative, Net [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	177	(609)
Assumed guaranteed minimum benefits \| Policyholder account balances
Embedded Derivative, Fair Value of Embedded Derivative, Net [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	897	827
Funds withheld on ceded reinsurance \| Other liabilities
Embedded Derivative, Fair Value of Embedded Derivative, Net [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	244	382
Other Embedded Derivatives [Member] \| Policyholder account balances
Embedded Derivative, Fair Value of Embedded Derivative, Net [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Liability	6	17
Options embedded in debt or equity securities [Member] \| Other invested assets
Embedded Derivative, Fair Value of Embedded Derivative, Net [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Asset	35	53
Options embedded in debt or equity securities [Member] \| Other Investments [Member]
Embedded Derivative, Fair Value of Embedded Derivative, Net [Abstract]
Embedded Derivative, Fair Value of Embedded Derivative Asset	$ (63)	$ (48)

Derivatives (Changes in Estimated Fair Value Related to Embedded Derivatives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Net derivatives gains (losses)	$ (270)	$ (1,049)	$ 6,267
Net derivative gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Net derivatives gains (losses)	(270)	(1,049)	6,267
Policyholder Benefits And Claims Incurred Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net derivatives gains (losses)	$ 21	$ 87	$ (139)

Derivatives (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Derivatives (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 3,893	$ 3,576
Derivative Liability, Fair Value, Gross Liability	1,782	1,818
Maximum Amount of Future Payments under Credit Default Swaps	2,093	1,924
Estimated Fair Value of Credit Default Swaps	12	28
Cash collateral on derivative assets	1	33
Cash collateral on derivative liabilities	62	30
Derivative Instruments, Gain (Loss) [Line Items]
Embedded derivatives gains (losses)	(270)	(1,049)	$ 6,267
Derivative Instrument Detail [Abstract]
Net amounts reclassified into net derivatives gains (losses) on discontinued cash flow hedges	$ 3	$ 0	0
Hedging exposure to variability in future cash flows for specific length of time	4 years	5 years
Accumulated Other Comprehensive Income (Loss)	$ 368	$ 282
Deferred net gains (losses) expected to be reclassified to earnings	27
Customer Securities for which Entity has Right to Sell or Repledge, Fair Value of Securities Sold or Repledged	0
Over the Counter [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Excess securities collateral received on derivatives	0	(122)
Excess securities collateral provided on derivatives	36	17
Exchange-cleared [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Excess securities collateral provided on derivatives	34	37
Exchange Traded [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Excess securities collateral provided on derivatives	156	165
Nonperformance Risk [Member] \| Direct And Assumed Guaranteed Minimum Benefit [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Embedded derivatives gains (losses)	25	100	$ (1,000)
Derivative [Member]
Derivatives, Fair Value [Line Items]
Assets Transferred To Affiliates, Estimated Fair Value	1,800
Liabilities Transferred To Affiliates Estimated Fair Value	1,200
Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	94	21
Derivative Liability, Fair Value, Gross Liability	88	22
Off-Balance Sheet [Member]
Derivatives, Fair Value [Line Items]
Cash collateral on derivative assets	$ 0	$ 33

Debt (Details) - USD ($) $ in Millions	12 Months Ended
Debt (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term Debt	$ 836	$ 928
Long Term Debt Excluding Consolidated Securitization Entities	$ 788	789
Surplus Notes [Member]
Debt Instrument [Line Items]
Interest Rate	8.60%
Debt Instrument Maturity	Apr. 08, 2038
Long-term Debt	$ 750	$ 750
Affiliated Debt [Member]
Debt Instrument [Line Items]
Interest Rate		6.80%
Unaffiliated Debt [Member]
Debt Instrument [Line Items]
Interest Rate	7.03%
Debt Instrument Maturity	Nov. 30, 2030
Long-term Debt	$ 38	$ 39

Debt (Details Textuals) - USD ($) $ in Millions	12 Months Ended
Debt (Details Textuals) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
Long Term Debt Aggregate Maturities, Year One	$ 1
Long Term Debt Aggregate Maturities, Year Two	1
Long Term Debt Aggregate Maturities, Year Three	2
Long Term Debt Aggregate Maturities, Year Four	2
Long Term Debt Aggregate Maturities, Year Five	2
Long-term Debt, Maturities, Repayments of Principal after Year Five	780
Total interest expense	68	$ 73	$ 73
Debt Instrument [Line Items]
Repayments of Long-term Debt	235	1,379	1,009
Long-term debt, at estimated fair value, relating to variable interest entities	836	928
Line of Credit Facility, Commitment Fee Amount	5	13	$ 27
Letters of Credit Outstanding, Amount	0
Line of Credit Facility, Remaining Borrowing Capacity	3,500
Consolidated Securitization Entities [Member]
Debt Instrument [Line Items]
Long-term debt, at estimated fair value, relating to variable interest entities	$ 48	139
Affiliated Debt [Member]
Debt Instrument [Line Items]
Repayments of Long-term Debt		$ 75
Interest Rate		6.80%

Fair Value (Recurring Fair Value Measurements) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Assets [Abstract]
Available-for-sale Securities, Debt Securities	$ 52,409	$ 50,697
Available-for-sale Securities, Equity Securities	409	459
Short-term investments	1,737	1,232
Mortgage Loans on Real Estate	7,262	5,839
Derivative assets	3,893	3,576
Net embedded derivatives within asset host contracts	214	222
Separate account assets	101,735	108,861
Liabilities [Abstract]
Derivative liabilities	1,782	1,818
Net embedded derivatives within liability host contracts	1,324	617
Long-term debt, at estimated fair value, relating to variable interest entities	836	928
Consolidated Securitization Entities
Assets [Abstract]
Mortgage Loans on Real Estate	172	280
Liabilities [Abstract]
Long-term debt, at estimated fair value, relating to variable interest entities	48	139
Recurring
Assets [Abstract]
Available-for-sale Securities, Debt Securities	52,409	50,697
Available-for-sale Securities, Equity Securities	409	459
Short-term investments	1,729	1,136
Derivative assets	3,893	3,576
Net embedded derivatives within asset host contracts	277	270
Separate account assets	101,735	108,861
Total assets	160,624	165,279
Liabilities [Abstract]
Derivative liabilities	1,782	1,818
Net embedded derivatives within liability host contracts	1,324	617
Total liabilities	3,154	2,574
Recurring \| Consolidated Securitization Entities
Assets [Abstract]
Mortgage Loans on Real Estate	172	280
Liabilities [Abstract]
Long-term debt, at estimated fair value, relating to variable interest entities	48	139
Recurring \| Interest rate
Assets [Abstract]
Derivative assets	2,455	2,409
Liabilities [Abstract]
Derivative liabilities	668	688
Recurring \| Foreign currency exchange rate
Assets [Abstract]
Derivative assets	205	118
Liabilities [Abstract]
Derivative liabilities	4	13
Recurring \| Credit
Assets [Abstract]
Derivative assets	13	29
Liabilities [Abstract]
Derivative liabilities	1	2
Recurring \| Equity market
Assets [Abstract]
Derivative assets	1,220	1,020
Liabilities [Abstract]
Derivative liabilities	1,109	1,115
Recurring \| U.S. corporate
Assets [Abstract]
Available-for-sale Securities, Debt Securities	16,746	16,802
Recurring \| U.S. Treasury and agency
Assets [Abstract]
Available-for-sale Securities, Debt Securities	13,806	15,826
Recurring \| RMBS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	8,478	6,081
Recurring \| Foreign corporate
Assets [Abstract]
Available-for-sale Securities, Debt Securities	4,954	5,414
Recurring \| State and political subdivision
Assets [Abstract]
Available-for-sale Securities, Debt Securities	2,705	2,592
Recurring \| ABS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	2,674	1,562
Recurring \| CMBS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	2,301	1,679
Recurring \| Foreign government
Assets [Abstract]
Available-for-sale Securities, Debt Securities	745	741
Recurring \| Level 1
Assets [Abstract]
Available-for-sale Securities, Debt Securities	7,998	10,226
Available-for-sale Securities, Equity Securities	44	105
Short-term investments	59	253
Derivative assets	39	35
Net embedded derivatives within asset host contracts	0	0
Separate account assets	624	249
Total assets	8,764	10,868
Liabilities [Abstract]
Derivative liabilities	0	0
Net embedded derivatives within liability host contracts	0	0
Total liabilities	0	0
Recurring \| Level 1 \| Consolidated Securitization Entities
Assets [Abstract]
Mortgage Loans on Real Estate	0	0
Liabilities [Abstract]
Long-term debt, at estimated fair value, relating to variable interest entities	0	0
Recurring \| Level 1 \| Interest rate
Assets [Abstract]
Derivative assets	2	1
Liabilities [Abstract]
Derivative liabilities	0	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	37	34
Liabilities [Abstract]
Derivative liabilities	0	0
Recurring \| Level 1 \| U.S. corporate
Assets [Abstract]
Available-for-sale Securities, Debt Securities	0	0
Recurring \| Level 1 \| U.S. Treasury and agency
Assets [Abstract]
Available-for-sale Securities, Debt Securities	7,998	10,226
Recurring \| Level 1 \| RMBS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	0	0
Recurring \| Level 1 \| Foreign corporate
Assets [Abstract]
Available-for-sale Securities, Debt Securities	0	0
Recurring \| Level 1 \| State and political subdivision
Assets [Abstract]
Available-for-sale Securities, Debt Securities	0	0
Recurring \| Level 1 \| ABS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	0	0
Recurring \| Level 1 \| CMBS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	0	0
Recurring \| Level 1 \| Foreign government
Assets [Abstract]
Available-for-sale Securities, Debt Securities	0	0
Recurring \| Level 2
Assets [Abstract]
Available-for-sale Securities, Debt Securities	40,392	37,361
Available-for-sale Securities, Equity Securities	268	254
Short-term investments	1,623	812
Derivative assets	3,630	3,279
Net embedded derivatives within asset host contracts	0	0
Separate account assets	100,965	108,454
Total assets	147,050	150,440
Liabilities [Abstract]
Derivative liabilities	1,326	1,360
Net embedded derivatives within liability host contracts	0	0
Total liabilities	1,374	1,499
Recurring \| Level 2 \| Consolidated Securitization Entities
Assets [Abstract]
Mortgage Loans on Real Estate	172	280
Liabilities [Abstract]
Long-term debt, at estimated fair value, relating to variable interest entities	48	139
Recurring \| Level 2 \| Interest rate
Assets [Abstract]
Derivative assets	2,445	2,363
Liabilities [Abstract]
Derivative liabilities	668	688
Recurring \| Level 2 \| Foreign currency exchange rate
Assets [Abstract]
Derivative assets	205	118
Liabilities [Abstract]
Derivative liabilities	4	13
Recurring \| Level 2 \| Credit
Assets [Abstract]
Derivative assets	12	28
Liabilities [Abstract]
Derivative liabilities	1	2
Recurring \| Level 2 \| Equity market
Assets [Abstract]
Derivative assets	968	770
Liabilities [Abstract]
Derivative liabilities	653	657
Recurring \| Level 2 \| U.S. corporate
Assets [Abstract]
Available-for-sale Securities, Debt Securities	15,295	15,447
Recurring \| Level 2 \| U.S. Treasury and agency
Assets [Abstract]
Available-for-sale Securities, Debt Securities	5,808	5,600
Recurring \| Level 2 \| RMBS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	7,138	5,365
Recurring \| Level 2 \| Foreign corporate
Assets [Abstract]
Available-for-sale Securities, Debt Securities	4,263	4,704
Recurring \| Level 2 \| State and political subdivision
Assets [Abstract]
Available-for-sale Securities, Debt Securities	2,692	2,592
Recurring \| Level 2 \| ABS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	2,357	1,381
Recurring \| Level 2 \| CMBS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	2,120	1,531
Recurring \| Level 2 \| Foreign government
Assets [Abstract]
Available-for-sale Securities, Debt Securities	719	741
Recurring \| Level 3
Assets [Abstract]
Available-for-sale Securities, Debt Securities	4,019	3,110
Available-for-sale Securities, Equity Securities	97	100
Short-term investments	47	71
Derivative assets	224	262
Net embedded derivatives within asset host contracts	277	270
Separate account assets	146	158
Total assets	4,810	3,971
Liabilities [Abstract]
Derivative liabilities	456	458
Net embedded derivatives within liability host contracts	1,324	617
Total liabilities	1,780	1,075
Recurring \| Level 3 \| Consolidated Securitization Entities
Assets [Abstract]
Mortgage Loans on Real Estate	0	0
Liabilities [Abstract]
Long-term debt, at estimated fair value, relating to variable interest entities	0	0
Recurring \| Level 3 \| Interest rate
Assets [Abstract]
Derivative assets	8	45
Liabilities [Abstract]
Derivative liabilities	0	0
Recurring \| Level 3 \| Foreign currency exchange rate
Assets [Abstract]
Derivative assets	0	0
Liabilities [Abstract]
Derivative liabilities	0	0
Recurring \| Level 3 \| Credit
Assets [Abstract]
Derivative assets	1	1
Liabilities [Abstract]
Derivative liabilities	0	0
Recurring \| Level 3 \| Equity market
Assets [Abstract]
Derivative assets	215	216
Liabilities [Abstract]
Derivative liabilities	456	458
Recurring \| Level 3 \| U.S. corporate
Assets [Abstract]
Available-for-sale Securities, Debt Securities	1,451	1,355
Recurring \| Level 3 \| U.S. Treasury and agency
Assets [Abstract]
Available-for-sale Securities, Debt Securities	0	0
Recurring \| Level 3 \| RMBS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	1,340	716
Recurring \| Level 3 \| Foreign corporate
Assets [Abstract]
Available-for-sale Securities, Debt Securities	691	710
Recurring \| Level 3 \| State and political subdivision
Assets [Abstract]
Available-for-sale Securities, Debt Securities	13	0
Recurring \| Level 3 \| ABS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	317	181
Recurring \| Level 3 \| CMBS
Assets [Abstract]
Available-for-sale Securities, Debt Securities	181	148
Recurring \| Level 3 \| Foreign government
Assets [Abstract]
Available-for-sale Securities, Debt Securities	$ 26	$ 0

Fair Value (Quantitative Information) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Interest rate contracts \| Minimum \| Income Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Swap yield	3.17%	2.78%
Interest rate contracts \| Maximum \| Income Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Swap yield	3.17%	2.97%
Credit contracts \| Minimum \| Income Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Credit spreads	0.00%	0.99%
Credit contracts \| Maximum \| Income Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Credit spreads	0.00%	0.99%
Equity market contracts \| Minimum \| Income Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Correlation	70.00%	70.00%
Volatility	17.00%	15.00%
Equity market contracts \| Maximum \| Income Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Correlation	70.00%	70.00%
Volatility	36.00%	27.00%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Minimum \| Income Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Utilization rates	0.00%	20.00%
Withdrawal rates	0.25%	0.07%
Long-term equity volatilities	17.40%	17.40%
Nonperformance risk spread	0.04%	0.03%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Minimum \| Income Approach Valuation Technique \| Durations 1 - 10
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Lapse Rate	0.25%	0.50%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Minimum \| Income Approach Valuation Technique \| Durations 11 - 20
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Lapse Rate	3.00%	3.00%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Minimum \| Income Approach Valuation Technique \| Durations 21 - 116
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Lapse Rate	3.00%	3.00%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Minimum \| Income Approach Valuation Technique \| Ages 0 - 40
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Mortality Rate	0.00%	0.00%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Minimum \| Income Approach Valuation Technique \| Ages 41 - 60
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Mortality Rate	0.04%	0.04%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Minimum \| Income Approach Valuation Technique \| Ages 61 – 115
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Mortality Rate	0.26%	0.26%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Maximum \| Income Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Utilization rates	25.00%	50.00%
Withdrawal rates	10.00%	10.00%
Long-term equity volatilities	25.00%	25.00%
Nonperformance risk spread	0.52%	1.39%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Maximum \| Income Approach Valuation Technique \| Durations 1 - 10
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Lapse Rate	100.00%	100.00%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Maximum \| Income Approach Valuation Technique \| Durations 11 - 20
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Lapse Rate	100.00%	100.00%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Maximum \| Income Approach Valuation Technique \| Durations 21 - 116
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Lapse Rate	100.00%	100.00%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Maximum \| Income Approach Valuation Technique \| Ages 0 - 40
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Mortality Rate	0.09%	0.10%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Maximum \| Income Approach Valuation Technique \| Ages 41 - 60
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Mortality Rate	0.65%	0.65%
Embedded derivatives direct and ceded guaranteed minimum benefits \| Maximum \| Income Approach Valuation Technique \| Ages 61 – 115
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Mortality Rate	100.00%	100.00%
U.S. corporate and foreign corporate \| Minimum \| Market Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Delta spread adjustments	(0.65%)	(0.35%)
Offered quotes	$ 68	$ 78
Quoted prices	$ 13	$ 0
U.S. corporate and foreign corporate \| Maximum \| Market Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Delta spread adjustments	2.40%	2.40%
Offered quotes	$ 95	$ 103
Quoted prices	$ 780	$ 750
U.S. corporate and foreign corporate \| Weighted Average \| Market Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Delta spread adjustments	0.49%	0.51%
Offered quotes	$ 80	$ 86
Quoted prices	314	418
RMBS \| Minimum \| Market Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Offered quotes	29	1
RMBS \| Maximum \| Market Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Offered quotes	292	117
RMBS \| Weighted Average \| Market Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Offered quotes	93	107
ABS \| Minimum \| Market Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Offered quotes	66	62
Quoted prices	97	97
ABS \| Maximum \| Market Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Offered quotes	105	106
Quoted prices	103	108
ABS \| Weighted Average \| Market Approach Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Offered quotes	99	99
Quoted prices	$ 100	$ 101

Fair Value (Unobservable Input Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
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	$ (64)	$ (7)	$ (443)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at January 1,	(196)	(292)
Total realized/unrealized gains (losses) included in net income (loss)	(74)	(4)	(466)
Total realized/unrealized gains (losses) included in AOCI	2	57	(58)
Purchases	22	4
Sales	0	0
Issuances	0	0
Settlements	14	39
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Balance at December 31,	(232)	(196)	(292)
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(64)	(7)	(443)
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	(241)	(982)	6,270
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at January 1,	(347)	288
Total realized/unrealized gains (losses) included in net income (loss)	(228)	(957)	6,309
Total realized/unrealized gains (losses) included in AOCI	0	107	292
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	(472)	215
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Balance at December 31,	(1,047)	(347)	288
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(241)	(982)	6,270
Corporate Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1,	2,065	2,049
Total realized/unrealized gains (losses) included in net income (loss)	16	3	1
Total realized/unrealized gains (losses) included in AOCI	(113)	74	(43)
Purchases	285	178
Sales	(118)	(194)
Issuances	0	0
Settlements	0	0
Transfers into Level 3	202	163
Transfers out of Level 3	(195)	(208)
Balance at December 31,	2,142	2,065	2,049
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	11	3	5
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	11	3	5
Structured Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1,	1,045	1,005
Total realized/unrealized gains (losses) included in net income (loss)	21	10	4
Total realized/unrealized gains (losses) included in AOCI	(11)	12	9
Purchases	1,255	501
Sales	(360)	(277)
Issuances	0	0
Settlements	0	0
Transfers into Level 3	22	25
Transfers out of Level 3	(134)	(231)
Balance at December 31,	1,838	1,045	1,005
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	21	6	1
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	21	6	1
State and political subdivision
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1,	0	0
Total realized/unrealized gains (losses) included in net income (loss)	0	0	0
Total realized/unrealized gains (losses) included in AOCI	0	0	0
Purchases	13	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Balance at December 31,	13	0	0
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	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
Foreign government
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1,	0	0
Total realized/unrealized gains (losses) included in net income (loss)	0	0	0
Total realized/unrealized gains (losses) included in AOCI	(3)	0	0
Purchases	29	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Balance at December 31,	26	0	0
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	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
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1,	100	131
Total realized/unrealized gains (losses) included in net income (loss)	11	(2)	8
Total realized/unrealized gains (losses) included in AOCI	(10)	7	21
Purchases	0	0
Sales	(16)	(24)
Issuances	0	0
Settlements	0	0
Transfers into Level 3	19	6
Transfers out of Level 3	(7)	(18)
Balance at December 31,	97	100	131
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	(1)	(5)
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	(1)	(5)
Short-term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1,	71	0
Total realized/unrealized gains (losses) included in net income (loss)	0	0	0
Total realized/unrealized gains (losses) included in AOCI	0	0	0
Purchases	47	71
Sales	0	0
Issuances	0	0
Settlements	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	(71)	0
Balance at December 31,	47	71	0
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	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
Separate account assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1,	158	153
Total realized/unrealized gains (losses) included in net income (loss)	(6)	(1)	6
Total realized/unrealized gains (losses) included in AOCI	0	0	0
Purchases	3	12
Sales	(5)	(9)
Issuances	0	0
Settlements	0	0
Transfers into Level 3	0	3
Transfers out of Level 3	(4)	0
Balance at December 31,	146	158	153
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	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

Fair Value (Fair Value Option for Certain Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Option, Quantitative Disclosures [Line Items]
Carrying value at estimated fair value	$ 7,262	$ 5,839
Carrying value at estimated fair value	836	928
Consolidated Securitization Entities
Fair Value, Option, Quantitative Disclosures [Line Items]
Unpaid principal balance	121	223
Difference between estimated fair value and unpaid principal balance	51	57
Carrying value at estimated fair value	172	280
Contractual principal balance	46	133
Difference between estimated fair value and contractual principal balance	2	6
Carrying value at estimated fair value	$ 48	$ 139

Fair Value (Nonrecurring Fair Value Measurements) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Level 3 \| Goodwill
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value After Measurement	$ 0	$ 0	$ 0
Level 3 \| Mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value After Measurement	3	3	19
Level 3 \| Other limited partnership interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value After Measurement	2	38	5
Nonrecurring \| Goodwill
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gains (Losses)	0	(33)	(66)
Nonrecurring \| Mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gains (Losses)	0	0	(3)
Nonrecurring \| Other limited partnership interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gains (Losses)	$ (1)	$ (6)	$ (6)

Fair Value (Financial Instruments Carried at Other Than Fair Value) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Assets
Policy loans	$ 1,266	$ 1,194
Liabilities
Separate account liabilities	101,735	108,861
Estimated Fair Value
Assets
Mortgage loans	7,386	6,020
Policy loans	1,347	1,288
Real estate joint ventures	65	83
Other limited partnership interests	57	81
Premiums, reinsurance and other receivables	7,243	7,207
Liabilities
Policyholder account balances	20,339	22,079
Long-term debt	1,070	1,120
Other liabilities	217	245
Separate account liabilities	1,275	1,432
Estimated Fair Value \| Level 1
Assets
Mortgage loans	0	0
Policy loans	0	0
Real estate joint ventures	0	0
Other limited partnership interests	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	0	0
Policy loans	917	834
Real estate joint ventures	0	0
Other limited partnership interests	0	0
Premiums, reinsurance and other receivables	80	51
Liabilities
Policyholder account balances	0	0
Long-term debt	1,070	1,120
Other liabilities	43	76
Separate account liabilities	1,275	1,432
Estimated Fair Value \| Level 3
Assets
Mortgage loans	7,386	6,020
Policy loans	430	454
Real estate joint ventures	65	83
Other limited partnership interests	57	81
Premiums, reinsurance and other receivables	7,163	7,156
Liabilities
Policyholder account balances	20,339	22,079
Long-term debt	0	0
Other liabilities	174	169
Separate account liabilities	0	0
Carrying Value
Assets
Mortgage loans	7,090	5,559
Policy loans	1,266	1,194
Real estate joint ventures	23	37
Other limited partnership interests	52	63
Premiums, reinsurance and other receivables	6,074	6,231
Liabilities
Policyholder account balances	18,968	20,554
Long-term debt	788	789
Other liabilities	217	245
Separate account liabilities	$ 1,275	$ 1,432

Fair Value (Recurring Fair Value Measurements) (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Net Embedded Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ (63)	$ (48)

Fair Value (Nonrecurring Fair Value Measurements) (Narrative) (Details) - Private Equity And Debt Funds	12 Months Ended
	Dec. 31, 2015
Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Liquidation period	2 years
Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Liquidation period	10 years

Goodwill (Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
Goodwill (Goodwill) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill Rollforward and by Segment
Goodwill	$ 874	$ 986	$ 986
Accumulated impairment	(493)	(460)	(394)
Total goodwill, net	381	526	592
Dispositions		(112)
Impairments	0	(33)	(66)
Goodwill	874	874	986
Accumulated impairment	(493)	(493)	(460)
Total goodwill, net	381	381	526
Retail
Goodwill Rollforward and by Segment
Goodwill	274	274	274
Accumulated impairment	(274)	(241)	(218)
Total goodwill, net	0	33	56
Dispositions		0
Impairments		(33)	(23)
Goodwill	274	274	274
Accumulated impairment	(274)	(274)	(241)
Total goodwill, net	0	0	33
Corporate Benefit Funding
Goodwill Rollforward and by Segment
Goodwill	195	307	307
Accumulated impairment	0	0	0
Total goodwill, net	195	307	307
Dispositions		(112)
Impairments		0	0
Goodwill	195	195	307
Accumulated impairment	0	0	0
Total goodwill, net	195	195	307
Corporate & Other
Goodwill Rollforward and by Segment
Goodwill	405	405	405
Accumulated impairment	(219)	(219)	(176)
Total goodwill, net	186	186	229
Dispositions		0
Impairments		0	(43)
Goodwill	405	405	405
Accumulated impairment	(219)	(219)	(219)
Total goodwill, net	$ 186	$ 186	$ 186

Goodwill (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Goodwill (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill [Line Items]
Goodwill impairment, net of income tax			$ 57
Goodwill	$ 381	$ 381	526	$ 592
Impairments	0	33	66
Dispositions		112
Corporate & Other
Goodwill [Line Items]
Goodwill	186	186	186	229
Impairments		0	43
Dispositions		0
Corporate Benefit Funding
Goodwill [Line Items]
Goodwill	$ 195	195	307	$ 307
Impairments		0	$ 0
Dispositions		112
MetLife Assurance Limited
Goodwill [Line Items]
Dispositions		112
MetLife Assurance Limited \| Corporate Benefit Funding
Goodwill [Line Items]
Dispositions		$ 112

Equity (Statutory Income) (Details) - USD ($) $ in Millions	12 Months Ended
Equity (Statutory Income) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Parent Company
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 5,942	$ 6,042
Statutory net income (loss)	$ (1,022)	$ 1,543
Met Life Insurance Company Of Connecticut
Statutory Accounting Practices [Line Items]
Statutory net income (loss)			$ 3,358

Equity (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning of period	$ 2,426	$ 980	$ 2,556
OCI before reclassifications	(1,306)	2,487	(2,304)
Deferred income tax benefit (expense)	483	(788)	780
AOCI before reclassifications, net of income tax	1,603	2,679	1,032
Amounts reclassified from AOCI	40	(26)	(80)
Deferred income tax benefit (expense)	(15)	7	28
Amounts reclassified from AOCI, net of income tax	25	(19)	(52)
Balance end of period	1,628	2,426	980
Unrealized Investment Gains (Losses), Net of Related Offsets
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning of period	2,250	916	2,410
OCI before reclassifications	(1,370)	2,301	(2,163)
Deferred income tax benefit (expense)	506	(707)	714
AOCI before reclassifications, net of income tax	1,386	2,510	961
Amounts reclassified from AOCI	46	(28)	(69)
Deferred income tax benefit (expense)	(17)	8	24
Amounts reclassified from AOCI, net of income tax	29	(20)	(45)
Balance end of period	1,415	2,250	916
Unrealized Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning of period	183	25	159
OCI before reclassifications	92	242	(195)
Deferred income tax benefit (expense)	(32)	(85)	68
AOCI before reclassifications, net of income tax	243	182	32
Amounts reclassified from AOCI	(6)	2	(11)
Deferred income tax benefit (expense)	2	(1)	4
Amounts reclassified from AOCI, net of income tax	(4)	1	(7)
Balance end of period	239	183	25
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning of period	(7)	39	(13)
OCI before reclassifications	(28)	(56)	54
Deferred income tax benefit (expense)	9	4	(2)
AOCI before reclassifications, net of income tax	(26)	(13)	39
Amounts reclassified from AOCI	0	0	0
Deferred income tax benefit (expense)	0	0	0
Amounts reclassified from AOCI, net of income tax	0	0	0
Balance end of period	$ (26)	(7)	$ 39
MetLife Assurance Limited
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from AOCI		(314)
Deferred income tax benefit (expense)		80
Amounts reclassified from AOCI, net of income tax		(234)
MetLife Assurance Limited \| Unrealized Investment Gains (Losses), Net of Related Offsets
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from AOCI		(320)
Deferred income tax benefit (expense)		80
Amounts reclassified from AOCI, net of income tax		(240)
MetLife Assurance Limited \| Unrealized Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from AOCI		0
Deferred income tax benefit (expense)		0
Amounts reclassified from AOCI, net of income tax		0
MetLife Assurance Limited \| Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from AOCI		6
Deferred income tax benefit (expense)		0
Amounts reclassified from AOCI, net of income tax		$ 6

Equity (Reclassifications Out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)	$ 36	$ (469)	$ 27
Net derivative gains (losses)	(424)	(181)	441
Net investment income	2,615	2,669	2,999
Income (loss) from continuing operations before provision for income tax	1,054	290	1,578
Provision for income tax expense (benefit)	(215)	5	(437)
Net income (loss)	839	295	1,141
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	(25)	19	52
Unrealized Investment Gains (Losses), Net of Related Offsets \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)	(48)	13	50
Net derivative gains (losses)	(10)	4	2
Net investment income	12	11	17
Income (loss) from continuing operations before provision for income tax	(46)	28	69
Provision for income tax expense (benefit)	17	(8)	(24)
Net income (loss)	(29)	20	45
Unrealized Gains (Losses) on Derivatives \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) from continuing operations before provision for income tax	6	(2)	11
Provision for income tax expense (benefit)	(2)	1	(4)
Net income (loss)	4	(1)	7
Interest rate swaps \| Unrealized Gains (Losses) on Derivatives \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net derivative gains (losses)	1	1	0
Net investment income	1	1	1
Interest rate forwards \| Unrealized Gains (Losses) on Derivatives \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net derivative gains (losses)	2	1	9
Net investment income	2	1	1
Foreign currency swaps \| Unrealized Gains (Losses) on Derivatives \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net derivative gains (losses)	$ 0	$ (6)	$ 0

Equity (Common Stock - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015	Nov. 30, 2014	Dec. 31, 2013
Equity [Abstract]
Common stock, shares authorized	4,000	4,000	4,000	40,000,000
Common stock, shares outstanding	3,000	3,000
Redemption of common stock	$ 1,390
Stock Repurchased and Retired During Period, Shares	4,595,317

Equity (Return of Capital - Narrative) (Details) $ in Millions	8 Months Ended
	Aug. 31, 2014 USD ($)
Capital Contribution [Member]
Capital contribution	$ 231

Equity (Statutory Income - Narrative) (Details)	12 Months Ended
Equity (Statutory Income - Narrative) (Details)	Dec. 31, 2015	Dec. 31, 2014
Parent Company
Statutory Accounting Practices [Line Items]
Total adjusted capital of MetLife USA	in excess of 350%	in excess of 350% Company Action RBC

Equity (Dividend Restrictions - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016
Parent Company \| Scenario, Forecast
Disclosure Of Dividends [Line Items]
Permitted w/o approval			$ 586
Exeter Reassurance Company
Disclosure Of Dividends [Line Items]
Paid		$ 155
MetLife Insurance Company USA
Disclosure Of Dividends [Line Items]
Paid	$ 500

Other Expenses (Other Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Income and Expenses [Abstract]
Compensation	$ 472	$ 320	$ 358
Commissions	650	492	700
Volume-related costs	134	170	165
Affiliated interest costs on ceded and assumed reinsurance	205	325	212
Capitalization of DAC	(325)	(279)	(512)
Amortization of DAC and VOBA	595	990	205
Interest expense on debt	76	109	195
Premium taxes, licenses and fees	67	53	59
Professional services	21	58	42
Rent and related expenses	53	41	31
Other	369	475	482
Total other expenses	$ 2,317	$ 2,754	$ 1,937

Related Party Transactions (Related Party Transactions - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction, Due from (to) Related Party [Abstract]
Net receivables (payables) due from (to) affiliates	$ 136	$ 26
Related Party Transaction [Line Items]
Other expenses	2,317	2,754	$ 1,937
Universal life and investment-type product policy fees	2,940	3,193	3,130
Other revenues	504	539	610
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Other expenses	1,600	1,600	1,700
Universal life and investment-type product policy fees	248	266	247
Other revenues	$ 208	$ 202	$ 211

Income Tax (Provision for Income Tax from Continuing Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ 281	$ (364)	$ (271)
Foreign	0	6	8
Subtotal	281	(358)	(263)
Deferred:
Federal	(66)	355	682
Foreign	0	(2)	18
Subtotal	(66)	353	700
Current and Deferred
Provision for income tax expense (benefit)	$ 215	$ (5)	$ 437

Income Tax (Income Loss from Continuing Operations Before Income Tax Expense from Domestic and Foreign Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income (loss) from continuing operations:
Domestic	$ 1,041	$ (174)	$ 1,724
Foreign	13	464	(146)
Income (loss) before provision for income tax	$ 1,054	$ 290	$ 1,578

Income Tax (Reconciliation of Income Tax Provision between US Statutory Rate and As Reported for Continuing Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income tax expense benefit continuing operations income tax reconciliation
Tax provision at U.S. statutory rate	$ 369	$ 102	$ 551
Dividend received deduction	(127)	(114)	(93)
Prior year tax	(4)	(20)	(6)
Tax credits	(16)	(14)	(11)
Foreign tax rate differential	(5)	0	(2)
Goodwill impairment	0	12	13
Sale of subsidiary	0	24	(24)
Other, net	(2)	5	9
Provision for income tax expense (benefit)	$ 215	$ (5)	$ 437

Income Tax (Net Deferred Income Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Deferred income tax assets:
Policyholder liabilities and receivables	$ 1,638	$ 1,836
Tax credit carryforwards	168	149
Other	39	40
Total deferred income tax assets	1,845	2,025
Deferred income tax liabilities:
Investments, including derivatives	132	372
Intangibles	521	519
Net unrealized investment gains	837	1,296
DAC	1,158	1,176
Total deferred income tax liabilities	2,648	3,363
Deferred tax assets and liabilities [Abstract]
Net deferred income tax asset (liability)	$ (803)	$ (1,338)

Income Tax (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Unrecognized Tax Benefits
Balance at January 1,	$ 38	$ 26	$ (1)
Additions for tax positions of prior years	5	15	28
Reductions for tax positions of prior years	0	(5)	(1)
Additions for tax positions of current year	3	2	1
Reductions for tax positions of current year	0	0	(1)
Settlements with tax authorities	(4)	0	0
Balance at December 31,	42	38	26
Unrecognized tax benefits that, if recognized would impact the effective rate	$ 32	$ 28	$ 26

Income Tax (Tax Credit Carryforwards) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 168	$ 149
Foreign Tax Authority
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	20
Foreign Tax Authority \| 2016-2020
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Foreign Tax Authority \| 2021-2025
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	20
Foreign Tax Authority \| 2026-2030
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Foreign Tax Authority \| 2031-2035
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Foreign Tax Authority \| Indefinite
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
General business credit
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	5
General business credit \| 2016-2020
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
General business credit \| 2021-2025
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
General business credit \| 2026-2030
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
General business credit \| 2031-2035
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	5
General business credit \| Indefinite
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Other tax credit
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	150
Other tax credit \| 2016-2020
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Other tax credit \| 2021-2025
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Other tax credit \| 2026-2030
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Other tax credit \| 2031-2035
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Other tax credit \| Indefinite
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 150

Income Tax (Interest Accrued Related to Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Interest recognized on the consolidated statements of operations	$ 0	$ 0	$ 2
Interest included in other liabilities on the consolidated balance sheets	$ 2	$ 2

Income Tax (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Tax (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Federal statutory tax rate	35.00%
Income tax benefit related to the separate account dividends received deduction	$ 138	$ 135	$ 106
Amounts due from affiliates per tax sharing agreement	(14)	(537)	(400)
True-up of the prior year tax return included in current year benefit related to the separate account dividends received deduction	$ 12	$ 21	$ 13

Contingencies, Commitments and Guarantees (Insolvency Assessments) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other Assets:
Premium tax offset for future discounted and undiscounted assessments	$ 13	$ 13
Premium tax offsets currently available for paid assessments	10	13
Other Liabilities:
Insolvency assessments	17	18
Insurance-related Assessments
Loss Contingencies [Line Items]
Total assets held for insolvency assessments	$ 23	$ 26

Contingencies, Commitments and Guarantees (Commitments - Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Commitments to Fund Partnership Investments 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	$ 1,000	$ 918
Mortgage Loan Commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	124	36
Secured Demand Notes \| Affiliated Entity
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	20	32
Securities Pledged as Collateral, at Fair Value	$ 25	$ 57

Contingencies, Commitments and Guarantees (Guarantees - Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Contingencies, Commitments and Guarantees (Textuals) [Abstract]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 264
Guarantor Obligations, Current Carrying Value	2	$ 1
Minimum
Contingencies, Commitments and Guarantees (Textuals) [Abstract]
Indemnities and guarantees contractual limitation range	6
Maximum
Contingencies, Commitments and Guarantees (Textuals) [Abstract]
Indemnities and guarantees contractual limitation range	$ 223

Consolidated Summary of Investments - Other Than Investments in Related Parties (Details) $ in Millions	Dec. 31, 2015 USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	$ 68,219
Amount at Which Shown on Balance Sheet	70,499
Fixed Maturities [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	50,154
Estimated Fair Value	52,409
Amount at Which Shown on Balance Sheet	52,409
U.S. Treasury and agency securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	12,562
Estimated Fair Value	13,806
Amount at Which Shown on Balance Sheet	13,806
State and political subdivision securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	2,398
Estimated Fair Value	2,705
Amount at Which Shown on Balance Sheet	2,705
Public utilities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	2,207
Estimated Fair Value	2,343
Amount at Which Shown on Balance Sheet	2,343
Foreign government
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	651
Estimated Fair Value	745
Amount at Which Shown on Balance Sheet	745
All other corporate bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	18,600
Estimated Fair Value	18,945
Amount at Which Shown on Balance Sheet	18,945
Total bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	36,418
Estimated Fair Value	38,544
Amount at Which Shown on Balance Sheet	38,544
Mortgage-backed and asset-backed securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	13,388
Estimated Fair Value	13,453
Amount at Which Shown on Balance Sheet	13,453
Redeemable preferred stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	348
Estimated Fair Value	412
Amount at Which Shown on Balance Sheet	412
Equity Securities, Investment Summary [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	384
Estimated Fair Value	409
Amount at Which Shown on Balance Sheet	409
Industrial, miscellaneous and all other
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	161
Estimated Fair Value	177
Amount at Which Shown on Balance Sheet	177
Public utilities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	4
Estimated Fair Value	3
Amount at Which Shown on Balance Sheet	3
Banks, Trust and Insurance, Equities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	2
Estimated Fair Value	5
Amount at Which Shown on Balance Sheet	5
Non-redeemable preferred stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	217
Estimated Fair Value	224
Amount at Which Shown on Balance Sheet	224
Mortgage loans held-for-investment
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	7,262
Amount at Which Shown on Balance Sheet	7,262
Policy loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	1,266
Amount at Which Shown on Balance Sheet	1,266
Real estate and real estate joint ventures
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	628
Amount at Which Shown on Balance Sheet	628
Other limited partnership interests
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	1,846
Amount at Which Shown on Balance Sheet	1,846
Short-term investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	1,737
Amount at Which Shown on Balance Sheet	1,737
Other invested assets
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	4,942
Amount at Which Shown on Balance Sheet	$ 4,942

Consolidated Supplementary Insurance Information (Balance Sheet Items) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplementary Insurance Information, by Segment [Line Items]
DAC and VOBA	$ 4,809	$ 4,890	$ 5,691
Future Policy Benefits and Other Policy-Related Balances	33,443	31,799	34,733
Policyholder Account Balances	35,661	35,486	37,389
Unearned Premiums	18	14	13
Unearned Revenue	188	204	288
Retail
Supplementary Insurance Information, by Segment [Line Items]
DAC and VOBA	4,694	4,824	5,659
Future Policy Benefits and Other Policy-Related Balances	16,164	14,184	13,156
Policyholder Account Balances	29,789	28,790	27,864
Unearned Premiums	12	9	9
Unearned Revenue	175	203	286
Corporate Benefit Funding
Supplementary Insurance Information, by Segment [Line Items]
DAC and VOBA	6	5	6
Future Policy Benefits and Other Policy-Related Balances	10,115	10,849	14,270
Policyholder Account Balances	5,870	6,695	8,357
Unearned Premiums	0	0	0
Unearned Revenue	13	1	2
Corporate & Other
Supplementary Insurance Information, by Segment [Line Items]
DAC and VOBA	109	61	26
Future Policy Benefits and Other Policy-Related Balances	7,164	6,766	7,307
Policyholder Account Balances	2	1	1,168
Unearned Premiums	6	5	4
Unearned Revenue	$ 0	$ 0	$ 0

Consolidated Supplementary Insurance Information (Income Statement Items) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplementary Insurance Information, by Segment [Line Items]
Premiums and Universal Life and Investment-Type Product Policy Fees	$ 4,373	$ 4,345	$ 3,819
Net Investment Income	2,615	2,669	2,999
Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances	3,733	3,826	4,315
Amortization of DAC and VOBA Charged to Other Expenses	595	990	205
Other Operating Expenses	1,722	1,764	1,732
Retail
Supplementary Insurance Information, by Segment [Line Items]
Premiums and Universal Life and Investment-Type Product Policy Fees	4,055	4,094	3,385
Net Investment Income	1,863	1,845	1,784
Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances	3,006	3,168	3,444
Amortization of DAC and VOBA Charged to Other Expenses	571	966	199
Other Operating Expenses	1,503	1,520	1,454
Corporate Benefit Funding
Supplementary Insurance Information, by Segment [Line Items]
Premiums and Universal Life and Investment-Type Product Policy Fees	70	9	219
Net Investment Income	804	908	1,119
Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances	521	603	858
Amortization of DAC and VOBA Charged to Other Expenses	1	2	5
Other Operating Expenses	45	42	38
Corporate & Other
Supplementary Insurance Information, by Segment [Line Items]
Premiums and Universal Life and Investment-Type Product Policy Fees	248	242	215
Net Investment Income	(52)	(84)	96
Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances	206	55	13
Amortization of DAC and VOBA Charged to Other Expenses	23	22	1
Other Operating Expenses	$ 174	$ 202	$ 240

Consolidated Reinsurance (Consolidated Reinsurance) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Reinsurance
Life Insurance in Force, Gross Amounts	$ 538,086	$ 489,194	$ 467,458
Life Insurance in Force, Ceded Amounts	497,017	450,342	428,842
Life Insurance in Force, Assumed Amounts	94,863	52,728	10,931
Life Insurance in Force, Net Amounts	$ 135,932	$ 91,580	$ 49,547
Life Insurance in Force, Percentage Assumed to Net	69.80%	57.60%	22.10%
Direct Premiums Earned	$ 2,281	$ 2,226	$ 1,590
Ceded Premiums Earned	1,145	1,168	974
Assumed Premiums Earned	297	94	73
Premiums Earned, Net	$ 1,433	$ 1,152	$ 689
Premiums, Percentage Assumed to Net	20.70%	8.20%	10.60%
Life insurance (1)
Consolidated Reinsurance
Direct Premiums Earned	$ 2,046	$ 1,995	$ 1,356
Ceded Premiums Earned	916	943	746
Assumed Premiums Earned	288	94	73
Premiums Earned, Net	$ 1,418	$ 1,146	$ 683
Premiums, Percentage Assumed to Net	20.30%	8.20%	10.60%
Accident & health insurance
Consolidated Reinsurance
Direct Premiums Earned	$ 235	$ 231	$ 234
Ceded Premiums Earned	229	225	228
Assumed Premiums Earned	9	0	0
Premiums Earned, Net	$ 15	$ 6	$ 6
Premiums, Percentage Assumed to Net	60.00%	0.00%	0.00%

Consolidated Reinsurance (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Reinsurance
Reinsurance ceded	$ 1,145	$ 1,168	$ 974
Reinsurance assumed	297	94	73
Assumed Premiums, Life Insurance in Force	94,863	52,728	10,931
Ceded Premiums, Life Insurance in Force	497,017	450,342	428,842
Affiliated Entity [Member]
Consolidated Reinsurance
Assumed Premiums, Life Insurance in Force	86,400	50,200	10,000
Ceded Premiums, Life Insurance in Force	321,000	292,000	270,000
Life insurance (1)
Consolidated Reinsurance
Reinsurance ceded	916	943	746
Reinsurance assumed	288	94	73
Life insurance (1) \| Affiliated Entity [Member]
Consolidated Reinsurance
Reinsurance ceded	783	830	638
Reinsurance assumed	$ 227	$ 55	$ 28

Subsequent Events (Details) $ in Billions	Feb. 24, 2016 USD ($)
Additional Paid-in Capital \| Subsequent Event [Member]
Subsequent Event [Line Items]
Capital contribution	$ 1.5