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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting Information, by Segment |
Year Ended December 31, 2024 |  | Group Benefits |  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings
| (In millions)
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Premiums |  | $ | 22,427 |  |  | $ | 8,034 |  |  | $ | 4,991 |  |  | $ | 4,476 |  |  | $ | 2,202 |  |  | $ | 2,780 |
Universal life and investment-type product policy fees |  | 909 |  |  | 314 |  |  | 1,690 |  |  | 1,419 |  |  | 314 |  |  | 326 |
Net investment income (1) |  | 1,252 |  |  | 8,482 |  |  | 4,658 |  |  | 1,650 |  |  | 222 |  |  | 3,985 |
Other revenues |  | 1,534 |  |  | 246 |  |  | 76 |  |  | 41 |  |  | 32 |  |  | 166 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Policyholder benefits and claims and policyholder dividends |  | 19,824 |  |  | 11,246 |  |  | 4,083 |  |  | 4,127 |  |  | 1,100 |  |  | 4,954 |
Policyholder liability remeasurement (gains) losses |  | (1) |  |  | (170) |  |  | (35) |  |  | (9) |  |  | 7 |  |  | 2 |
Interest credited to PABs |  | 191 |  |  | 3,371 |  |  | 2,695 |  |  | 438 |  |  | 70 |  |  | 390 |
Other expenses: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of DAC, VOBA and negative VOBA |  | 26 |  |  | 66 |  |  | 832 |  |  | 503 |  |  | 355 |  |  | 229 |
Interest expense on debt |  | 2 |  |  | 15 |  |  | — |  |  | 15 |  |  | — |  |  | 14 |
Direct and allocated expenses |  | 2,000 |  |  | 309 |  |  | 1,176 |  |  | 560 |  |  | 426 |  |  | 646 |
Other segment expenses (2) |  | 2,049 |  |  | 139 |  |  | 413 |  |  | 743 |  |  | 457 |  |  | 223 |
Provision for income tax expense (benefit) |  | 425 |  |  | 433 |  |  | 630 |  |  | 328 |  |  | 72 |  |  | 152 |
Adjusted earnings |  | $ | 1,606 |  |  | $ | 1,667 |  |  | $ | 1,621 |  |  | $ | 881 |  |  | $ | 283 |  |  | $ | 647 |
Year Ended December 31, 2023 |  | Group Benefits |  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings
|  | (In millions)
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Premiums |  | $ | 21,558 |  |  | $ | 8,248 |  |  | $ | 5,251 |  |  | $ | 4,287 |  |  | $ | 2,016 |  |  | $ | 2,881 |
Universal life and investment-type product policy fees |  | 878 |  |  | 313 |  |  | 1,632 |  |  | 1,398 |  |  | 298 |  |  | 632 |
Net investment income (1) |  | 1,301 |  |  | 7,803 |  |  | 3,957 |  |  | 1,644 |  |  | 197 |  |  | 4,494 |
Other revenues |  | 1,493 |  |  | 271 |  |  | 86 |  |  | 42 |  |  | 32 |  |  | 195 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Policyholder benefits and claims and policyholder dividends |  | 19,164 |  |  | 11,269 |  |  | 4,333 |  |  | 4,094 |  |  | 984 |  |  | 5,350 |
Policyholder liability remeasurement (gains) losses |  | (28) |  |  | (131) |  |  | 105 |  |  | (25) |  |  | (3) |  |  | 37 |
Interest credited to PABs |  | 193 |  |  | 2,887 |  |  | 2,301 |  |  | 426 |  |  | 72 |  |  | 730 |
Other expenses: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of DAC, VOBA and negative VOBA |  | 26 |  |  | 49 |  |  | 772 |  |  | 468 |  |  | 344 |  |  | 258 |
Interest expense on debt |  | 2 |  |  | 14 |  |  | — |  |  | 11 |  |  | — |  |  | 13 |
Direct and allocated expenses |  | 1,896 |  |  | 275 |  |  | 1,172 |  |  | 578 |  |  | 404 |  |  | 666 |
Other segment expenses (2) |  | 1,880 |  |  | 114 |  |  | 403 |  |  | 682 |  |  | 399 |  |  | 239 |
Provision for income tax expense (benefit) |  | 442 |  |  | 450 |  |  | 558 |  |  | 297 |  |  | 78 |  |  | 176 |
Adjusted earnings |  | $ | 1,655 |  |  | $ | 1,708 |  |  | $ | 1,282 |  |  | $ | 840 |  |  | $ | 265 |  |  | $ | 733 |
Year Ended December 31, 2022 |  | Group Benefits |  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings
|  | (In millions)
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Premiums |  | $ | 21,051 |  |  | $ | 13,619 |  |  | $ | 5,563 |  |  | $ | 3,224 |  |  | $ | 1,962 |  |  | $ | 3,066 |
Universal life and investment-type product policy fees |  | 855 |  |  | 303 |  |  | 1,693 |  |  | 1,175 |  |  | 284 |  |  | 902 |
Net investment income (1) |  | 1,136 |  |  | 6,204 |  |  | 3,909 |  |  | 1,593 |  |  | 160 |  |  | 4,914 |
Other revenues |  | 1,360 |  |  | 392 |  |  | 90 |  |  | 39 |  |  | 35 |  |  | 155 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Policyholder benefits and claims and policyholder dividends |  | 19,076 |  |  | 16,163 |  |  | 4,564 |  |  | 3,320 |  |  | 976 |  |  | 5,636 |
Policyholder liability remeasurement (gains) losses |  | 7 |  |  | (36) |  |  | 69 |  |  | (21) |  |  | (6) |  |  | 101 |
Interest credited to PABs |  | 143 |  |  | 1,914 |  |  | 2,003 |  |  | 335 |  |  | 71 |  |  | 813 |
Other expenses: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of DAC, VOBA and negative VOBA |  | 26 |  |  | 40 |  |  | 721 |  |  | 410 |  |  | 318 |  |  | 270 |
Interest expense on debt |  | 1 |  |  | 8 |  |  | — |  |  | 12 |  |  | — |  |  | 8 |
Direct and allocated expenses |  | 1,793 |  |  | 260 |  |  | 1,202 |  |  | 493 |  |  | 389 |  |  | 669 |
Other segment expenses (2) |  | 1,667 |  |  | 111 |  |  | 421 |  |  | 533 |  |  | 371 |  |  | 255 |
Provision for income tax expense (benefit) |  | 357 |  |  | 423 |  |  | 658 |  |  | 220 |  |  | 73 |  |  | 254 |
Adjusted earnings |  | $ | 1,332 |  |  | $ | 1,635 |  |  | $ | 1,617 |  |  | $ | 729 |  |  | $ | 249 |  |  | $ | 1,031 |
__________________ (1)The percentage of net investment income from equity method invested assets by segment was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Group Benefits |  | —% |  | —% |  | 1%
RIS |  | 3% |  | 1% |  | 6%
Asia |  | 12% |  | 4% |  | 12%
Latin America |  | 1% |  | 1% |  | 3%
MetLife Holdings |  | 3% |  | 2% |  | 6%
(2)Includes pension, postretirement and postemployment benefit costs; premium taxes, other taxes, and licenses & fees, as well as commissions and other variable expenses. This line item is net of capitalization of DAC. The following table presents the reconciliation of certain financial measures used in calculating segment results to those used in calculating consolidated Company results:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (In millions)
Total segment adjusted earnings |  | $ | 6,705 |  |  | $ | 6,483 |  |  | $ | 6,593 |
Corporate & Other |  | (709) |  |  | (760) |  |  | (615) |
Total consolidated adjusted earnings |  | 5,996 |  |  | 5,723 |  |  | 5,978 |
Net investment gains (losses) |  | (1,184) |  |  | (2,824) |  |  | (1,260) |
Net derivative gains (losses) |  | (1,623) |  |  | (2,140) |  |  | (2,251) |
Market risk benefit remeasurement gains (losses) |  | 1,109 |  |  | 994 |  |  | 3,674 |
Investment hedge adjustments |  | (604) |  |  | (1,012) |  |  | (976) |
Other |  | 63 |  |  | (173) |  |  | (443) |
Provision for income tax (expense) benefit |  | 687 |  |  | 1,034 |  |  | 580 |
Net income (loss) |  | $ | 4,444 |  |  | $ | 1,602 |  |  | $ | 5,302 |
Segment revenues: |  |  |  |  |  |
Group |  | $ | 26,122 |  |  | $ | 25,230 |  |  | $ | 24,402 |
RIS |  | 17,076 |  |  | 16,635 |  |  | 20,518 |
Asia |  | 11,415 |  |  | 10,926 |  |  | 11,255 |
Latin America |  | 7,586 |  |  | 7,371 |  |  | 6,031 |
EMEA |  | 2,770 |  |  | 2,543 |  |  | 2,441 |
MetLife Holdings |  | 7,257 |  |  | 8,202 |  |  | 9,037 |
Total segment revenues |  | 72,226 |  |  | 70,907 |  |  | 73,684 |
Net investment gains (losses) |  | (1,184) |  |  | (2,824) |  |  | (1,260) |
Net derivative gains (losses) |  | (1,623) |  |  | (2,140) |  |  | (2,251) |
Investment hedge adjustments |  | (604) |  |  | (1,012) |  |  | (976) |
Unit-linked investment income and Reinsurance adjustments |  | 1,122 |  |  | 1,183 |  |  | (1,298) |
Other |  | 1,049 |  |  | 791 |  |  | 871 |
Total consolidated revenues |  | $ | 70,986 |  |  | $ | 66,905 |  |  | $ | 68,770 |
Revenue from External Customers by Products and Services | 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,
| 2024 |  | 2023 |  | 2022
| (In millions)
Life insurance | $ | 22,250 |  |  | $ | 22,111 |  |  | $ | 21,728 |
Accident & health insurance | 18,356 |  |  | 18,014 |  |  | 17,441 |
Annuities | 10,121 |  |  | 10,193 |  |  | 15,657 |
Other | 1,793 |  |  | 1,643 |  |  | 1,539 |
Total | $ | 52,520 |  |  | $ | 51,961 |  |  | $ | 56,365 |
Revenue from External Customers by Geographic Areas | The following table presents total premiums, universal life and investment-type product policy fees and other revenues associated with the Company’s U.S. and foreign operations:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| (In millions)
U.S. | $ | 37,266 |  |  | $ | 36,869 |  |  | $ | 42,250 |
Japan | 4,702 |  |  | 5,020 |  |  | 5,460 |
Other | 10,552 |  |  | 10,072 |  |  | 8,655 |
Total | $ | 52,520 |  |  | $ | 51,961 |  |  | $ | 56,365 |

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