XML 81 R45.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Future Policy Benefits (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Insurance [Abstract] |
Schedule of Liability for Future Policy Benefits, by Product Segment | The Company’s FPBs on the consolidated balance sheets was as follows at:
|  | December 31,
|  | 2024 |  | 2023
|  | (In millions)
Traditional and Limited-Payment Contracts: |  |  |  |
RIS - Annuities |  | $ | 66,262 |  |  | $ | 64,324 |
Asia: |  |  |  |
Whole and term life & endowments |  | 11,167 |  |  | 12,874 |
Accident & health |  | 9,406 |  |  | 10,712 |
Latin America - Fixed annuities |  | 9,600 |  |  | 9,637 |
MetLife Holdings - Long-term care |  | 14,537 |  |  | 15,240 |
Deferred Profit Liabilities: |  |  |  |
RIS - Annuities |  | 3,780 |  |  | 3,697 |
Asia: |  |  |  |
Whole and term life & endowments |  | 759 |  |  | 654 |
Accident & health |  | 849 |  |  | 830 |
Latin America - Fixed annuities |  | 498 |  |  | 562 |
Additional Insurance Liabilities: |  |  |  |
Asia: |  |  |  |
Variable life |  | 1,108 |  |  | 1,258 |
Universal and variable universal life |  | 355 |  |  | 424 |
MetLife Holdings - Universal and variable universal life |  | 2,496 |  |  | 2,362 |
MetLife Holdings - Participating life |  | 48,485 |  |  | 49,543 |
Other long-duration (1) |  | 10,712 |  |  | 11,099 |
Short-duration and other |  | 13,632 |  |  | 13,190 |
Total |  | $ | 193,646 |  |  | $ | 196,406 |
__________________ (1) This balance represents liabilities for various smaller product lines across multiple segments, as well as Corporate & Other.
Liability for Future Policy Benefit, Activity | Information regarding these products was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (Dollars in millions)
Present Value of Expected Net Premiums |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | — |  |  | $ | — |  |  | $ | — |
Balance at January 1, at original discount rate |  | $ | — |  |  | $ | — |  |  | $ | — |
Effect of changes in cash flow assumptions (1) |  | — |  |  | — |  |  | — |
Effect of actual variances from expected experience (2) |  | (48) |  |  | (106) |  |  | (94) |
Adjusted balance |  | (48) |  |  | (106) |  |  | (94) |
Issuances |  | 7,985 |  |  | 6,572 |  |  | 12,672 |
Net premiums collected |  | (7,937) |  |  | (6,466) |  |  | (12,578) |
Balance at December 31, at original discount rate |  | — |  |  | — |  |  | — |
Balance at December 31, at current discount rate at balance sheet date |  | $ | — |  |  | $ | — |  |  | $ | — |
Present Value of Expected FPBs |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | 64,515 |  |  | $ | 58,695 |  |  | $ | 62,954 |
Balance at January 1, at original discount rate |  | $ | 64,737 |  |  | $ | 61,426 |  |  | $ | 50,890 |
Effect of changes in cash flow assumptions (1) |  | (195) |  |  | (284) |  |  | (115) |
Effect of actual variances from expected experience (2) |  | (121) |  |  | (270) |  |  | (175) |
Adjusted balance |  | 64,421 |  |  | 60,872 |  |  | 50,600 |
Issuances |  | 8,129 |  |  | 6,588 |  |  | 12,770 |
Interest accrual |  | 3,146 |  |  | 2,897 |  |  | 2,519 |
Benefit payments |  | (6,050) |  |  | (5,620) |  |  | (4,463) |
Effect of foreign currency translation |  | (3) |  |  | — |  |  | — |
Balance at December 31, at original discount rate |  | 69,643 |  |  | 64,737 |  |  | 61,426 |
Effect of changes in discount rate assumptions |  | (3,022) |  |  | (222) |  |  | (2,731) |
Balance at December 31, at current discount rate at balance sheet date |  | 66,621 |  |  | 64,515 |  |  | 58,695 |
Cumulative amount of fair value hedging adjustments |  | (359) |  |  | (191) |  |  | (200) |
Net liability for FPBs |  | 66,262 |  |  | 64,324 |  |  | 58,495 |
Less: Reinsurance recoverables |  | 1,919 |  |  | 269 |  |  | — |
Net liability for FPBs, net of reinsurance |  | $ | 64,343 |  |  | $ | 64,055 |  |  | $ | 58,495 |
Undiscounted - Expected future benefit payments |  | $ | 126,735 |  |  | $ | 130,878 |  |  | $ | 113,932 |
Discounted - Expected future benefit payments (at current discount rate at balance sheet date) |  | $ | 66,621 |  |  | $ | 64,515 |  |  | $ | 58,695 |
Weighted-average duration of the liability |  | 8 years |  | 9 years |  | 9 years
Weighted-average interest accretion (original locked-in) rate |  | 4.8 | % |  | 4.7 | % |  | 4.6 | %
Weighted-average current discount rate at balance sheet date |  | 5.6 | % |  | 5.1 | % |  | 5.5 | %
__________________ (1)For the year ended December 31, 2024, the net effect of changes in cash flow assumptions was partially offset by the corresponding impact in DPL associated with the RIS segment’s annuity products of $62 million. For the year ended December 31, 2023, the net effect of changes in cash flow assumptions was largely offset by the corresponding impact in DPL associated with the RIS segment’s annuity products of $211 million. For the year ended December 31, 2022, the net effect of changes in cash flow assumptions was more than offset by the corresponding impact in DPL associated with the RIS segment’s annuity products of $128 million. (2) For the years ended December 31, 2024 and 2022, the net effect of actual variances from expected experience was partially offset by the corresponding impact in DPL associated with the RIS segment’s annuity products of $35 million and $46 million, respectively. For the year ended December 31, 2023, the net effect of actual variances from expected experience was largely offset by the corresponding impact in DPL associated with the RIS segment’s annuity products of $118 million. Information regarding these products was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
| (Dollars in millions)
Present Value of Expected Net Premiums |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | 4,561 |  |  | $ | 4,682 |  |  | $ | 5,986 |
Balance at January 1, at original discount rate |  | $ | 4,793 |  |  | $ | 4,943 |  |  | $ | 5,881 |
Effect of changes in cash flow assumptions (1) |  | 58 |  |  | 11 |  |  | 69 |
Effect of actual variances from expected experience (2) |  | (98) |  |  | (62) |  |  | 28 |
Adjusted balance |  | 4,753 |  |  | 4,892 |  |  | 5,978 |
Issuances |  | 558 |  |  | 730 |  |  | 231 |
Interest accrual |  | 70 |  |  | 59 |  |  | 44 |
Net premiums collected |  | (604) |  |  | (611) |  |  | (615) |
Effect of foreign currency translation |  | (491) |  |  | (277) |  |  | (695) |
Balance at December 31, at original discount rate |  | 4,286 |  |  | 4,793 |  |  | 4,943 |
Effect of changes in discount rate assumptions |  | (288) |  |  | (242) |  |  | (247) |
Effect of foreign currency translation on the effect of changes in discount rate assumptions |  | 25 |  |  | 10 |  |  | (14) |
Balance at December 31, at current discount rate at balance sheet date |  | $ | 4,023 |  |  | $ | 4,561 |  |  | $ | 4,682 |
Present Value of Expected FPBs |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | 17,435 |  |  | $ | 17,463 |  |  | $ | 24,453 |
Balance at January 1, at original discount rate |  | $ | 17,198 |  |  | $ | 18,209 |  |  | $ | 21,276 |
Effect of changes in cash flow assumptions (1) |  | 36 |  |  | 58 |  |  | 96 |
Effect of actual variances from expected experience (2) |  | (135) |  |  | (30) |  |  | 54 |
Adjusted balance |  | 17,099 |  |  | 18,237 |  |  | 21,426 |
Issuances |  | 558 |  |  | 729 |  |  | 231 |
Interest accrual |  | 368 |  |  | 370 |  |  | 364 |
Benefit payments |  | (958) |  |  | (1,174) |  |  | (1,406) |
Effect of foreign currency translation |  | (1,815) |  |  | (964) |  |  | (2,406) |
Balance at December 31, at original discount rate |  | 15,252 |  |  | 17,198 |  |  | 18,209 |
Effect of changes in discount rate assumptions |  | 11 |  |  | 224 |  |  | (475) |
Effect of foreign currency translation on the effect of changes in discount rate assumptions |  | (73) |  |  | 13 |  |  | (271) |
Balance at December 31, at current discount rate at balance sheet date |  | 15,190 |  |  | 17,435 |  |  | 17,463 |
Cumulative impact of flooring the future policyholder benefits reserve |  | — |  |  | — |  |  | 11 |
Net liability for FPBs |  | 11,167 |  |  | 12,874 |  |  | 12,792 |
Less: Amount due to reinsurer |  | (2) |  |  | (1) |  |  | (1) |
Net liability for FPBs, net of reinsurance |  | $ | 11,169 |  |  | $ | 12,875 |  |  | $ | 12,793 |
Undiscounted: |  |  |  |  |  |
Expected future gross premiums |  | $ | 8,678 |  |  | $ | 9,331 |  |  | $ | 9,369 |
Expected future benefit payments |  | $ | 25,422 |  |  | $ | 28,130 |  |  | $ | 28,507 |
Discounted (at current discount rate at balance sheet date): |  |  |  |  |  |
Expected future gross premiums |  | $ | 7,316 |  |  | $ | 8,067 |  |  | $ | 8,086 |
Expected future benefit payments |  | $ | 15,190 |  |  | $ | 17,435 |  |  | $ | 17,463 |
Weighted-average duration of the liability |  | 17 years |  | 17 years |  | 15 years
Weighted -average interest accretion (original locked-in) rate |  | 2.6 | % |  | 2.5 | % |  | 2.3 | %
Weighted-average current discount rate at balance sheet date |  | 2.8 | % |  | 2.6 | % |  | 2.7 | %
__________________ (1) For the year ended December 31, 2024, the net effect of changes in cash flow assumptions was more than offset by the corresponding impact in DPL associated with the Asia segment’s whole and term life & endowment products of $28 million. For the year ended December 31, 2023, the net effect of changes in cash flow assumptions was not offset by the corresponding impact in DPL associated with the Asia segment’s whole and term life & endowment products due to the diversification of the products and the underlying characteristics. For the year ended December 31, 2022, the net effect of changes in cash flow assumptions was partially offset by the corresponding impact in DPL associated with the Asia segment’s whole and term life & endowment products of ($13) million. (2) For the years ended December 31, 2023 and 2022, the net effect of actual variances from expected experience was not offset by the corresponding impact in DPL associated with the Asia segment’s whole and term life & endowment product due to the diversification and the underlying characteristics of the products. Information regarding these products was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (Dollars in millions)
Present Value of Expected Net Premiums |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | 19,835 |  |  | $ | 21,181 |  |  | $ | 26,543 |
Balance at January 1, at original discount rate |  | $ | 21,232 |  |  | $ | 22,594 |  |  | $ | 25,937 |
Effect of changes in cash flow assumptions (1) |  | 439 |  |  | 867 |  |  | 24 |
Effect of actual variances from expected experience (2) |  | (205) |  |  | (158) |  |  | 297 |
Adjusted balance |  | 21,466 |  |  | 23,303 |  |  | 26,258 |
Issuances |  | 1,032 |  |  | 1,030 |  |  | 1,387 |
Interest accrual |  | 223 |  |  | 236 |  |  | 250 |
Net premiums collected |  | (1,843) |  |  | (2,016) |  |  | (2,160) |
Effect of foreign currency translation and other - net |  | (2,058) |  |  | (1,321) |  |  | (3,141) |
Balance at December 31, at original discount rate |  | 18,820 |  |  | 21,232 |  |  | 22,594 |
Effect of changes in discount rate assumptions |  | (1,772) |  |  | (1,449) |  |  | (1,341) |
Effect of foreign currency translation on the effect of changes in discount rate assumptions |  | 155 |  |  | 52 |  |  | (72) |
Balance at December 31, at current discount rate at balance sheet date |  | $ | 17,203 |  |  | $ | 19,835 |  |  | $ | 21,181 |
Present Value of Expected FPBs |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | 30,480 |  |  | $ | 30,879 |  |  | $ | 41,874 |
Balance at January 1, at original discount rate |  | $ | 36,010 |  |  | $ | 37,189 |  |  | $ | 41,517 |
Effect of changes in cash flow assumptions (1) |  | 439 |  |  | 898 |  |  | (7) |
Effect of actual variances from expected experience (2) |  | (203) |  |  | (180) |  |  | 363 |
Adjusted balance |  | 36,246 |  |  | 37,907 |  |  | 41,873 |
Issuances |  | 1,030 |  |  | 1,028 |  |  | 1,387 |
Interest accrual |  | 470 |  |  | 485 |  |  | 498 |
Benefit payments |  | (1,268) |  |  | (1,279) |  |  | (1,613) |
Effect of foreign currency translation and other - net |  | (3,640) |  |  | (2,131) |  |  | (4,956) |
Balance at December 31, at original discount rate |  | 32,838 |  |  | 36,010 |  |  | 37,189 |
Effect of changes in discount rate assumptions |  | (6,890) |  |  | (5,793) |  |  | (6,291) |
Effect of foreign currency translation on the effect of changes in discount rate assumptions |  | 617 |  |  | 263 |  |  | (19) |
Balance at December 31, at current discount rate at balance sheet date |  | 26,565 |  |  | 30,480 |  |  | 30,879 |
Cumulative impact of flooring the future policyholder benefits reserve |  | 44 |  |  | 67 |  |  | 342 |
Net liability for FPBs |  | 9,406 |  |  | 10,712 |  |  | 10,040 |
Less: Reinsurance recoverables |  | 142 |  |  | 142 |  |  | 143 |
Net liability for FPBs, net of reinsurance |  | $ | 9,264 |  |  | $ | 10,570 |  |  | $ | 9,897 |
Undiscounted: |  |  |  |  |  |
Expected future gross premiums |  | $ | 36,908 |  |  | $ | 41,734 |  |  | $ | 43,440 |
Expected future benefit payments |  | $ | 43,016 |  |  | $ | 47,046 |  |  | $ | 48,147 |
Discounted (at current discount rate at balance sheet date): |  |  |  |  |  |
Expected future gross premiums |  | $ | 29,436 |  |  | $ | 34,356 |  |  | $ | 36,179 |
Expected future benefit payments |  | $ | 26,565 |  |  | $ | 30,480 |  |  | $ | 30,879 |
Weighted-average duration of the liability |  | 23 years |  | 25 years |  | 17 years
Weighted-average interest accretion (original locked-in) rate |  | 1.7 | % |  | 1.7 | % |  | 1.7 | %
Weighted-average current discount rate at balance sheet date |  | 2.8 | % |  | 2.5 | % |  | 2.7 | %
__________________ (1) F or the year ended December 31, 2023, the net effect of changes in cash flow assumptions was partially offset by the corresponding impact in DPL associated with the Asia segment’s accident & health products of ($10) million. For the year ended December 31, 2022 the net effect of changes in cash flow assumptions was more than offset by the corresponding impact in DPL associated with the Asia segment’s accident & health products of $44 million. (2) For the years ended December 31, 2023 and 2022, the net effect of actual variances from expected experience was partially offset by the corresponding impact in DPL associated with the Asia segment’s accident & health products of $4 million and ($20) million, respectively. Information regarding these products was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (Dollars in millions)
Present Value of Expected Net Premiums |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | — |  |  | $ | — |  |  | $ | — |
Balance at January 1, at original discount rate |  | $ | — |  |  | $ | — |  |  | $ | — |
Effect of changes in cash flow assumptions (1) |  | — |  |  | — |  |  | — |
Effect of actual variances from expected experience (2) |  | — |  |  | — |  |  | 1 |
Adjusted balance |  | — |  |  | — |  |  | 1 |
Issuances |  | 1,020 |  |  | 1,045 |  |  | 714 |
Interest accrual |  | 21 |  |  | 29 |  |  | (3) |
Net premiums collected |  | (1,041) |  |  | (1,074) |  |  | (712) |
Balance at December 31, at original discount rate |  | — |  |  | — |  |  | — |
Balance at December 31, at current discount rate at balance sheet date |  | $ | — |  |  | $ | — |  |  | $ | — |
Present Value of Expected FPBs |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | 9,637 |  |  | $ | 9,265 |  |  | $ | 7,343 |
Balance at January 1, at original discount rate |  | $ | 9,249 |  |  | $ | 8,240 |  |  | $ | 6,851 |
Effect of changes in cash flow assumptions (1) |  | (4) |  |  | (5) |  |  | (8) |
Effect of actual variances from expected experience (2) |  | (2) |  |  | (31) |  |  | (32) |
Adjusted balance |  | 9,243 |  |  | 8,204 |  |  | 6,811 |
Issuances |  | 1,065 |  |  | 1,153 |  |  | 757 |
Interest accrual |  | 339 |  |  | 341 |  |  | 286 |
Benefit payments |  | (701) |  |  | (671) |  |  | (560) |
Inflation adjustment |  | 391 |  |  | 415 |  |  | 896 |
Effect of foreign currency translation |  | (1,204) |  |  | (193) |  |  | 50 |
Balance at December 31, at original discount rate |  | 9,133 |  |  | 9,249 |  |  | 8,240 |
Effect of changes in discount rate assumptions |  | 536 |  |  | 391 |  |  | 1,026 |
Effect of foreign currency translation on the effect of changes in discount rate assumptions |  | (69) |  |  | (3) |  |  | (1) |
Balance at December 31, at current discount rate at balance sheet date |  | 9,600 |  |  | 9,637 |  |  | 9,265 |
Net liability for FPBs |  | $ | 9,600 |  |  | $ | 9,637 |  |  | $ | 9,265 |
Undiscounted - Expected future benefit payments |  | $ | 13,660 |  |  | $ | 13,994 |  |  | $ | 12,675 |
Discounted - Expected future benefit payments (at current discount rate at balance sheet date) |  | $ | 9,600 |  |  | $ | 9,637 |  |  | $ | 9,265 |
Weighted-average duration of the liability |  | 11 years |  | 11 years |  | 11 years
Weighted-average interest accretion (original locked-in) rate |  | 3.5 | % |  | 3.6 | % |  | 3.9 | %
Weighted-average current discount rate at balance sheet date |  | 3.1 | % |  | 3.3 | % |  | 2.7 | %
__________________ (1)For the years ended December 31, 2024, 2023 and 2022, the net effect of changes in cash flow assumptions was largely offset by the corresponding impact in DPL associated with the Latin America segment’s fixed annuity products of $3 million, $4 million and $7 million, respectively. (2)For the years ended December 31, 2024 and 2023, the net effect of actual variances from expected experience was not offset by the corresponding impact in DPL associated with the Latin America segment’s fixed annuity products primarily due to the variance coming from cohorts with no DPL. F or the year ended December 31, 2022, the net effect of actual variances from expected experience was partially offset by the corresponding impact in DPL associated with the Latin America segment’s fixed annuity products of $20 million. Information regarding these products was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (Dollars in millions)
Present Value of Expected Net Premiums |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | 5,687 |  |  | $ | 5,775 |  |  | $ | 7,058 |
Balance at January 1, at original discount rate |  | $ | 5,566 |  |  | $ | 5,807 |  |  | $ | 5,699 |
Effect of changes in cash flow assumptions |  | 212 |  |  | (152) |  |  | 272 |
Effect of actual variances from expected experience |  | 74 |  |  | 199 |  |  | 120 |
Adjusted balance |  | 5,852 |  |  | 5,854 |  |  | 6,091 |
Interest accrual |  | 285 |  |  | 294 |  |  | 298 |
Net premiums collected |  | (569) |  |  | (582) |  |  | (582) |
Balance at December 31, at original discount rate |  | 5,568 |  |  | 5,566 |  |  | 5,807 |
Effect of changes in discount rate assumptions |  | (93) |  |  | 121 |  |  | (32) |
Balance at December 31, at current discount rate at balance sheet date |  | $ | 5,475 |  |  | $ | 5,687 |  |  | $ | 5,775 |
Present Value of Expected FPBs |  |  |  |  |  |
Balance at January 1, at current discount rate at balance sheet date |  | $ | 20,927 |  |  | $ | 19,619 |  |  | $ | 27,627 |
Balance at January 1, at original discount rate |  | $ | 20,494 |  |  | $ | 20,165 |  |  | $ | 19,406 |
Effect of changes in cash flow assumptions |  | 205 |  |  | (190) |  |  | 301 |
Effect of actual variances from expected experience |  | 84 |  |  | 223 |  |  | 115 |
Adjusted balance |  | 20,783 |  |  | 20,198 |  |  | 19,822 |
Interest accrual |  | 1,089 |  |  | 1,070 |  |  | 1,043 |
Benefit payments |  | (848) |  |  | (774) |  |  | (700) |
Balance at December 31, at original discount rate |  | 21,024 |  |  | 20,494 |  |  | 20,165 |
Effect of changes in discount rate assumptions |  | (1,012) |  |  | 433 |  |  | (546) |
Balance at December 31, at current discount rate at balance sheet date |  | 20,012 |  |  | 20,927 |  |  | 19,619 |
Other adjustments |  | — |  |  | — |  |  | 1 |
Net liability for FPBs |  | $ | 14,537 |  |  | $ | 15,240 |  |  | $ | 13,845 |
Undiscounted: |  |  |  |  |  |
Expected future gross premiums |  | $ | 10,644 |  |  | $ | 10,603 |  |  | $ | 11,201 |
Expected future benefit payments |  | $ | 44,981 |  |  | $ | 45,016 |  |  | $ | 45,872 |
Discounted (at current discount rate at balance sheet date): |  |  |  |  |  |
Expected future gross premiums |  | $ | 6,966 |  |  | $ | 7,139 |  |  | $ | 7,200 |
Expected future benefit payments |  | $ | 20,012 |  |  | $ | 20,927 |  |  | $ | 19,619 |
Weighted-average duration of the liability |  | 14 years |  | 15 years |  | 15 years
Weighted-average interest accretion (original locked-in) rate |  | 5.4 | % |  | 5.4 | % |  | 5.5 | %
Weighted-average current discount rate at balance sheet date |  | 5.8 | % |  | 5.2 | % |  | 5.6 | %
Additional Liability, Long-Duration Insurance | Information regarding these additional insurance liabilities was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
|  | Variable Life |  | Universal and Variable Universal Life
|  | (Dollars in millions)
Balance, at January 1, |  | $ | 1,258 |  |  | $ | 1,381 |  |  | $ | 1,595 |  |  | $ | 424 |  |  | $ | 455 |  |  | $ | 655 |
Less: AOCI adjustment |  | — |  |  | — |  |  | — |  |  | (14) |  |  | (33) |  |  | 56 |
Balance, at January 1, before AOCI adjustment |  | 1,258 |  |  | 1,381 |  |  | 1,595 |  |  | 438 |  |  | 488 |  |  | 599 |
Effect of changes in cash flow assumptions |  | 17 |  |  | (4) |  |  | 9 |  |  | (23) |  |  | (2) |  |  | (1) |
Effect of actual variances from expected experience |  | (12) |  |  | (10) |  |  | 2 |  |  | (34) |  |  | (24) |  |  | (39) |
Adjusted balance |  | 1,263 |  |  | 1,367 |  |  | 1,606 |  |  | 381 |  |  | 462 |  |  | 559 |
Assessments accrual |  | (4) |  |  | (3) |  |  | (3) |  |  | — |  |  | — |  |  | (3) |
Interest accrual |  | 17 |  |  | 19 |  |  | 21 |  |  | 6 |  |  | 7 |  |  | 7 |
Excess benefits paid |  | (38) |  |  | (36) |  |  | (40) |  |  | — |  |  | — |  |  | — |
Effect of foreign currency translation and other, net |  | (130) |  |  | (89) |  |  | (203) |  |  | (42) |  |  | (31) |  |  | (75) |
Balance, at December 31, before AOCI adjustment |  | 1,108 |  |  | 1,258 |  |  | 1,381 |  |  | 345 |  |  | 438 |  |  | 488 |
Add: AOCI adjustment |  | — |  |  | — |  |  | — |  |  | 10 |  |  | (14) |  |  | (33) |
Balance, at December 31, |  | $ | 1,108 |  |  | $ | 1,258 |  |  | $ | 1,381 |  |  | $ | 355 |  |  | $ | 424 |  |  | $ | 455 |
Weighted-average duration of the liability |  | 16 years |  | 16 years |  | 17 years |  | 42 years |  | 42 years |  | 42 years
Weighted-average interest accretion rate |  | 1.5 | % |  | 1.5 | % |  | 1.4 | % |  | 1.4 | % |  | 1.4 | % |  | 1.4 | %
Information regarding these additional insurance liabilities was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | Universal and Variable Universal Life
|  | (Dollars in millions)
Balance, at January 1 |  | $ | 2,362 |  | $ | 2,156 |  | $ | 2,117
Less: AOCI adjustment |  | (14) |  | (63) |  | 67
Balance, at January 1, before AOCI adjustment |  | 2,376 |  | 2,219 |  | 2,050
Effect of changes in cash flow assumptions |  | (2) |  | 38 |  | 35
Effect of actual variances from expected experience |  | 53 |  | — |  | 39
Adjusted balance |  | 2,427 |  | 2,257 |  | 2,124
Assessments accrual |  | 104 |  | 105 |  | 103
Interest accrual |  | 132 |  | 124 |  | 116
Excess benefits paid |  | (150) |  | (110) |  | (124)
Balance, at December 31, before AOCI adjustment |  | 2,513 |  | 2,376 |  | 2,219
Add: AOCI adjustment |  | (17) |  | (14) |  | (63)
Balance, at December 31 |  | 2,496 |  | 2,362 |  | 2,156
Less: Reinsurance recoverables |  | 2,174 |  | 2,055 |  | 745
Balance, at December 31, net of reinsurance |  | $ | 322 |  | $ | 307 |  | $ | 1,411
Weighted-average duration of the liability |  | 15 years |  | 15 years |  | 16 years
Weighted-average interest accretion rate |  | 5.5 | % |  | 5.5 | % |  | 5.6 | %
The Company’s gross premiums or assessments and interest expense recognized in the consolidated statements of operations for long-duration contracts, excluding MetLife Holdings’ participating life contracts, were as follows:
|  | Years Ended December 31,
|  | 2024 | 2023 |  | 2022
|  | Gross Premiums or Assessments (1) |  | Interest Expense (2) |  | Gross Premiums or Assessments (1) |  | Interest Expense (2) |  | Gross Premiums or Assessments (1) |  | Interest Expense (2)
| (In millions)
Traditional and Limited-Payment Contracts: |  |  |  |  |  |  |  |  |  |  |  |
RIS - Annuities |  | $ | 8,084 |  |  | $ | 3,146 |  |  | $ | 6,660 |  |  | $ | 2,897 |  |  | $ | 12,748 |  |  | $ | 2,519 |
Asia: |  |  |  |  |  |  |  |  |  |  |  |
Whole and term life & endowments |  | 1,130 |  |  | 298 |  |  | 1,124 |  |  | 311 |  |  | 1,144 |  |  | 320 |
Accident & health |  | 3,066 |  |  | 247 |  |  | 3,364 |  |  | 249 |  |  | 3,602 |  |  | 248 |
Latin America - Fixed annuities |  | 1,041 |  |  | 318 |  |  | 1,074 |  |  | 312 |  |  | 712 |  |  | 289 |
MetLife Holdings - Long-term care |  | 724 |  |  | 804 |  |  | 731 |  |  | 776 |  |  | 734 |  |  | 745 |
Deferred Profit Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
RIS - Annuities |  | N/A |  | 178 |  |  | N/A |  | 167 |  |  | N/A |  | 154 |
Asia: |  |  |  |  |  |  |  |  |  |  |  |
Whole and term life & endowments |  | N/A |  | 36 |  |  | N/A |  | 31 |  |  | N/A |  | 26 |
Accident & health |  | N/A |  | 20 |  |  | N/A |  | 18 |  |  | N/A |  | 16 |
Latin America - Fixed annuities |  | N/A |  | 20 |  |  | N/A |  | 22 |  |  | N/A |  | 19 |
Additional Insurance Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Asia: |  |  |  |  |  |  |  |  |  |  |  |
Variable life |  | 117 |  |  | 17 |  |  | 89 |  |  | 19 |  |  | 58 |  |  | 21 |
Universal and variable universal life |  | (35) |  |  | 6 |  |  | (31) |  |  | 7 |  |  | (26) |  |  | 7 |
MetLife Holdings - Universal and variable universal life |  | 642 |  |  | 132 |  |  | 730 |  |  | 124 |  |  | 805 |  |  | 116 |
Other long-duration |  | 4,717 |  |  | 473 |  |  | 4,516 |  |  | 460 |  |  | 3,701 |  |  | 450 |
Total |  | $ | 19,486 |  |  | $ | 5,695 |  |  | $ | 18,257 |  |  | $ | 5,393 |  |  | $ | 23,478 |  |  | $ | 4,930 |
__________________ (1)Gross premiums are related to traditional and limited-payment contracts and are included in premiums. Assessments are related to additional insurance liabilities and are included in universal life and investment-type product policy fees and net investment income. (2)Interest expense is included in policyholder benefits and claims.
Short-duration Insurance Contracts, Claims Development | Group Life - Term
|  | Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance |  | At December 31, 2024
|  | Years Ended December 31, |  | Total IBNR Liabilities Plus Expected Development on Reported Claims |  | Cumulative Number of Reported Claims
|  | (Unaudited) |  |  |  |
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  |
|  | (Dollars in millions)
2015 |  | $ | 7,040 |  |  | $ | 7,015 |  |  | $ | 7,014 |  |  | $ | 7,021 |  |  | $ | 7,024 |  |  | $ | 7,025 |  |  | $ | 7,026 |  |  | $ | 7,026 |  |  | $ | 7,028 |  |  | $ | 7,030 |  |  | $ | 1 |  |  | 219,340 |
2016 |  |  |  | 7,125 |  |  | 7,085 |  |  | 7,095 |  |  | 7,104 |  |  | 7,105 |  |  | 7,104 |  |  | 7,107 |  |  | 7,109 |  |  | 7,110 |  |  | 1 |  |  | 221,405 |
2017 |  |  |  |  |  | 7,432 |  |  | 7,418 |  |  | 7,425 |  |  | 7,427 |  |  | 7,428 |  |  | 7,428 |  |  | 7,432 |  |  | 7,434 |  |  | 2 |  |  | 264,746 |
2018 |  |  |  |  |  |  |  | 7,757 |  |  | 7,655 |  |  | 7,646 |  |  | 7,650 |  |  | 7,651 |  |  | 7,652 |  |  | 7,659 |  |  | 3 |  |  | 253,393 |
2019 |  |  |  |  |  |  |  |  |  | 7,935 |  |  | 7,900 |  |  | 7,907 |  |  | 7,917 |  |  | 7,914 |  |  | 7,921 |  |  | 4 |  |  | 255,494 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 8,913 |  |  | 9,367 |  |  | 9,389 |  |  | 9,384 |  |  | 9,388 |  |  | 6 |  |  | 302,292 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,555 |  |  | 10,795 |  |  | 10,777 |  |  | 10,783 |  |  | 10 |  |  | 335,468 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,640 |  |  | 9,653 |  |  | 9,662 |  |  | 21 |  |  | 335,417 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,584 |  |  | 9,471 |  |  | 43 |  |  | 314,144 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,909 |  |  | 1,226 |  |  | 264,726 |
Total |  | 86,367 |  |  |  |  |
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | (83,214) |  |  |  |  |
All outstanding liabilities for incurral years prior to 2015, net of reinsurance |  | 6 |  |  |  |  |
Total unpaid claims and claim adjustment expenses, net of reinsurance |  | $ | 3,159 |  |  |  |  |
|  | Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
|  | Years Ended December 31,
|  | (Unaudited) |  |
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024
|  | (In millions)
2015 |  | $ | 5,524 |  | $ | 6,913 |  | $ | 6,958 |  | $ | 6,974 |  | $ | 7,008 |  |  | $ | 7,018 |  |  | $ | 7,022 |  |  | $ | 7,024 |  |  | $ | 7,027 |  |  | $ | 7,029 |
2016 |  |  |  | 5,582 |  | 6,980 |  | 7,034 |  | 7,053 |  |  | 7,086 |  |  | 7,096 |  |  | 7,100 |  |  | 7,106 |  |  | 7,109 |
2017 |  |  |  |  |  | 5,761 |  | 7,292 |  | 7,355 |  |  | 7,374 |  |  | 7,400 |  |  | 7,414 |  |  | 7,427 |  |  | 7,431 |
2018 |  |  |  |  |  |  |  | 6,008 |  | 7,521 |  |  | 7,578 |  |  | 7,595 |  |  | 7,629 |  |  | 7,646 |  |  | 7,652 |
2019 |  |  |  |  |  |  |  |  |  | 6,178 |  |  | 7,756 |  |  | 7,820 |  |  | 7,853 |  |  | 7,898 |  |  | 7,908 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 6,862 |  |  | 9,103 |  |  | 9,242 |  |  | 9,296 |  |  | 9,353 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,008 |  |  | 10,476 |  |  | 10,640 |  |  | 10,689 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,101 |  |  | 9,399 |  |  | 9,536 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,929 |  |  | 9,225 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,282 |
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | $ | 83,214 |
Group Long-term Disability
|  | Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance |  | At December 31, 2024
|  | Years Ended December 31, |  | Total IBNR Liabilities Plus Expected Development on Reported Claims |  | Cumulative Number of Reported Claims
|  | (Unaudited) |  |  |  |
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  |
|  | (Dollars in millions)
2015 |  | $ | 1,082 |  |  | $ | 1,105 |  |  | $ | 1,093 |  |  | $ | 1,100 |  |  | $ | 1,087 |  |  | $ | 1,081 |  |  | $ | 1,067 |  |  | $ | 1,086 |  |  | $ | 1,078 |  |  | $ | 1,069 |  |  | $ | — |  |  | 21,220 |
2016 |  |  |  | 1,131 |  |  | 1,139 |  |  | 1,159 |  |  | 1,162 |  |  | 1,139 |  |  | 1,124 |  |  | 1,123 |  |  | 1,086 |  |  | 1,108 |  |  | — |  |  | 17,974 |
2017 |  |  |  |  |  | 1,244 |  |  | 1,202 |  |  | 1,203 |  |  | 1,195 |  |  | 1,165 |  |  | 1,181 |  |  | 1,101 |  |  | 1,135 |  |  | — |  |  | 16,329 |
2018 |  |  |  |  |  |  |  | 1,240 |  |  | 1,175 |  |  | 1,163 |  |  | 1,147 |  |  | 1,170 |  |  | 1,102 |  |  | 1,150 |  |  | — |  |  | 15,216 |
2019 |  |  |  |  |  |  |  |  |  | 1,277 |  |  | 1,212 |  |  | 1,169 |  |  | 1,177 |  |  | 1,103 |  |  | 1,166 |  |  | — |  |  | 15,426 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 1,253 |  |  | 1,223 |  |  | 1,155 |  |  | 1,100 |  |  | 1,158 |  |  | — |  |  | 15,813 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,552 |  |  | 1,608 |  |  | 1,477 |  |  | 1,586 |  |  | — |  |  | 19,663 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,641 |  |  | 1,732 |  |  | 1,578 |  |  | 7 |  |  | 18,364 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,725 |  |  | 1,722 |  |  | 41 |  |  | 20,089 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,890 |  |  | 840 |  |  | 12,419 |
Total |  | 13,562 |  |  |  |  |
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | (6,981) |  |  |  |  |
All outstanding liabilities for incurral years prior to 2015, net of reinsurance |  | 1,468 |  |  |  |  |
Total unpaid claims and claim adjustment expenses, net of reinsurance |  | $ | 8,049 |  |  |  |  |
|  | Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
|  | Years Ended December 31,
|  | (Unaudited) |  |
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024
|  | (In millions)
2015 |  | $ | 50 |  |  | $ | 264 |  |  | $ | 427 |  |  | $ | 524 |  |  | $ | 601 |  |  | $ | 665 |  |  | $ | 718 |  |  | $ | 764 |  |  | $ | 801 |  |  | $ | 844 |
2016 |  |  |  | 49 |  |  | 267 |  |  | 433 |  |  | 548 |  |  | 628 |  |  | 696 |  |  | 750 |  |  | 769 |  |  | 839 |
2017 |  |  |  |  |  | 56 |  |  | 290 |  |  | 476 |  |  | 579 |  |  | 655 |  |  | 719 |  |  | 718 |  |  | 812 |
2018 |  |  |  |  |  |  |  | 54 |  |  | 314 |  |  | 497 |  |  | 594 |  |  | 666 |  |  | 663 |  |  | 775 |
2019 |  |  |  |  |  |  |  |  |  | 57 |  |  | 342 |  |  | 522 |  |  | 620 |  |  | 621 |  |  | 764 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 59 |  |  | 355 |  |  | 535 |  |  | 560 |  |  | 706 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 95 |  |  | 505 |  |  | 620 |  |  | 902 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 76 |  |  | 609 |  |  | 721 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 84 |  |  | 520 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 98 |
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | $ | 6,981 |
Group Disability & Group Life
|  | Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance |  | At December 31, 2024
|  | Years Ended December 31, |  | Total IBNR Liabilities Plus Expected Development on Reported Claims |  | Cumulative Number of Reported Claims
|  | (Unaudited) |  |  |  |
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  |
|  | (Dollars in millions)
2015 |  | $ | 222 |  |  | $ | 212 |  |  | $ | 214 |  |  | $ | 209 |  |  | $ | 219 |  |  | $ | 220 |  |  | $ | 223 |  |  | $ | 220 |  |  | $ | 222 |  |  | $ | 220 |  |  | $ | 6 |  |  | 6,943 |
2016 |  |  |  | 185 |  |  | 188 |  |  | 178 |  |  | 189 |  |  | 191 |  |  | 196 |  |  | 198 |  |  | 197 |  |  | 190 |  |  | 10 |  |  | 4,857 |
2017 |  |  |  |  |  | 240 |  |  | 223 |  |  | 230 |  |  | 246 |  |  | 253 |  |  | 248 |  |  | 250 |  |  | 238 |  |  | 15 |  |  | 5,847 |
2018 |  |  |  |  |  |  |  | 293 |  |  | 267 |  |  | 279 |  |  | 288 |  |  | 282 |  |  | 289 |  |  | 273 |  |  | 30 |  |  | 6,297 |
2019 |  |  |  |  |  |  |  |  |  | 316 |  |  | 296 |  |  | 310 |  |  | 306 |  |  | 314 |  |  | 295 |  |  | 37 |  |  | 6,461 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 352 |  |  | 327 |  |  | 302 |  |  | 309 |  |  | 280 |  |  | 61 |  |  | 5,728 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 335 |  |  | 349 |  |  | 366 |  |  | 346 |  |  | 97 |  |  | 7,130 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 445 |  |  | 412 |  |  | 376 |  |  | 110 |  |  | 8,144 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 411 |  |  | 344 |  |  | 175 |  |  | 6,690 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 463 |  |  | 382 |  |  | 4,295 |
Total |  | 3,025 |  |  |  |  |
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | (2,101) |  |  |  |  |
All outstanding liabilities for incurral years prior to 2015, net of reinsurance |  | 14 |  |  |  |  |
Total unpaid claims and claim adjustment expenses, net of reinsurance |  | $ | 938 |  |  |  |  |
|  | Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
|  | Years Ended December 31,
|  | (Unaudited) |  |
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024
|  | (In millions)
2015 |  | $ | 64 |  |  | $ | 122 |  |  | $ | 152 |  |  | $ | 165 |  |  | $ | 186 |  |  | $ | 199 |  |  | $ | 205 |  |  | $ | 209 |  |  | $ | 212 |  |  | $ | 215 |
2016 |  |  |  | 52 |  |  | 107 |  |  | 122 |  |  | 152 |  |  | 165 |  |  | 173 |  |  | 180 |  |  | 185 |  |  | 180 |
2017 |  |  |  |  |  | 70 |  |  | 126 |  |  | 167 |  |  | 205 |  |  | 219 |  |  | 221 |  |  | 230 |  |  | 223 |
2018 |  |  |  |  |  |  |  | 77 |  |  | 141 |  |  | 190 |  |  | 222 |  |  | 230 |  |  | 250 |  |  | 243 |
2019 |  |  |  |  |  |  |  |  |  | 85 |  |  | 156 |  |  | 202 |  |  | 234 |  |  | 262 |  |  | 257 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 78 |  |  | 140 |  |  | 186 |  |  | 215 |  |  | 219 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 70 |  |  | 156 |  |  | 226 |  |  | 249 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 81 |  |  | 204 |  |  | 266 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 86 |  |  | 168 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 81 |
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | $ | 2,101 |
Protection Life
|  | Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance |  | At December 31, 2024
|  | Years Ended December 31, |  | Total IBNR Liabilities Plus Expected Development on Reported Claims |  | Cumulative Number of Reported Claims
|  | (Unaudited) |  |  |
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |
|  | (Dollars in millions)
2015 |  | $ | 277 |  |  | $ | 399 |  |  | $ | 371 |  |  | $ | 375 |  |  | $ | 375 |  |  | $ | 376 |  |  | $ | 371 |  |  | $ | 362 |  |  | $ | 362 |  |  | $ | 361 |  |  | $ | — |  |  | 38,843 |
2016 |  |  |  | 293 |  |  | 385 |  |  | 396 |  |  | 402 |  |  | 403 |  |  | 404 |  |  | 395 |  |  | 394 |  |  | 399 |  |  | — |  |  | 40,548 |
2017 |  |  |  |  |  | 302 |  |  | 294 |  |  | 294 |  |  | 293 |  |  | 293 |  |  | 285 |  |  | 285 |  |  | 287 |  |  | — |  |  | 30,762 |
2018 |  |  |  |  |  |  |  | 280 |  |  | 271 |  |  | 269 |  |  | 271 |  |  | 270 |  |  | 269 |  |  | 272 |  |  | — |  |  | 28,549 |
2019 |  |  |  |  |  |  |  |  |  | 303 |  |  | 276 |  |  | 279 |  |  | 277 |  |  | 278 |  |  | 277 |  |  | — |  |  | 31,620 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 459 |  |  | 459 |  |  | 464 |  |  | 467 |  |  | 465 |  |  | 2 |  |  | 43,289 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 580 |  |  | 505 |  |  | 505 |  |  | 502 |  |  | 5 |  |  | 51,427 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 400 |  |  | 378 |  |  | 374 |  |  | 7 |  |  | 42,230 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 389 |  |  | 360 |  |  | 21 |  |  | 39,931 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 449 |  |  | 177 |  |  | 41,577 |
Total |  | 3,746 |  |  |  |  |
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | (3,366) |  |  |  |  |
All outstanding liabilities for incurral years prior to 2015, net of reinsurance |  | 6 |  |  |  |  |
Total unpaid claims and claim adjustment expenses, net of reinsurance |  | $ | 386 |  |  |  |  |
|  | Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
|  | Years Ended December 31,
|  | (Unaudited) |  |
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024
|  | (In millions)
2015 |  | $ | 225 |  |  | $ | 319 |  |  | $ | 339 |  |  | $ | 345 |  |  | $ | 351 |  |  | $ | 353 |  |  | $ | 354 |  |  | $ | 346 |  |  | $ | 347 |  |  | $ | 348 |
2016 |  |  |  | 208 |  |  | 373 |  |  | 390 |  |  | 397 |  |  | 400 |  |  | 402 |  |  | 396 |  |  | 397 |  |  | 397 |
2017 |  |  |  |  |  | 179 |  |  | 268 |  |  | 283 |  |  | 286 |  |  | 289 |  |  | 282 |  |  | 283 |  |  | 285 |
2018 |  |  |  |  |  |  |  | 141 |  |  | 240 |  |  | 251 |  |  | 255 |  |  | 252 |  |  | 254 |  |  | 255 |
2019 |  |  |  |  |  |  |  |  |  | 157 |  |  | 239 |  |  | 257 |  |  | 255 |  |  | 258 |  |  | 259 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 198 |  |  | 397 |  |  | 408 |  |  | 415 |  |  | 418 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 299 |  |  | 418 |  |  | 435 |  |  | 466 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 247 |  |  | 331 |  |  | 351 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 254 |  |  | 348 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 239 |
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | $ | 3,366 |
Protection Health
|  | Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance |  | At December 31, 2024
|  | Years Ended December 31, |  | Total IBNR Liabilities Plus Expected Development on Reported Claims |  | Cumulative Number of Reported Claims
|  | (Unaudited) |  |  |
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |
|  | (Dollars in millions)
2015 |  | $ | 190 |  |  | $ | 216 |  |  | $ | 217 |  |  | $ | 216 |  |  | $ | 216 |  |  | $ | 216 |  |  | $ | 216 |  |  | $ | 217 |  |  | $ | 217 |  |  | $ | 216 |  |  | $ | — |  |  | 87,903 |
2016 |  |  |  | 249 |  |  | 287 |  |  | 284 |  |  | 284 |  |  | 284 |  |  | 284 |  |  | 285 |  |  | 285 |  |  | 286 |  |  | — |  |  | 107,119 |
2017 |  |  |  |  |  | 360 |  |  | 336 |  |  | 336 |  |  | 336 |  |  | 335 |  |  | 336 |  |  | 336 |  |  | 337 |  |  | — |  |  | 122,264 |
2018 |  |  |  |  |  |  |  | 386 |  |  | 406 |  |  | 385 |  |  | 383 |  |  | 383 |  |  | 383 |  |  | 384 |  |  | — |  |  | 145,387 |
2019 |  |  |  |  |  |  |  |  |  | 129 |  |  | 168 |  |  | 162 |  |  | 161 |  |  | 162 |  |  | 163 |  |  | — |  |  | 133,704 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 466 |  |  | 458 |  |  | 456 |  |  | 455 |  |  | 456 |  |  | 1 |  |  | 151,310 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 598 |  |  | 600 |  |  | 597 |  |  | 599 |  |  | 4 |  |  | 173,394 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 652 |  |  | 643 |  |  | 645 |  |  | 9 |  |  | 202,198 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 823 |  |  | 813 |  |  | 19 |  |  | 216,489 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 926 |  |  | 81 |  |  | 165,589 |
Total |  | 4,825 |  |  |  |  |
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | (4,641) |  |  |  |  |
All outstanding liabilities for incurral years prior to 2015, net of reinsurance |  | 3 |  |  |  |  |
Total unpaid claims and claim adjustment expenses, net of reinsurance |  | $ | 187 |  |  |  |  |
|  | Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
|  | Years Ended December 31,
|  | (Unaudited)
Incurral Year |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024
|  | (In millions)
2015 |  | $ | 190 |  |  | $ | 216 |  |  | $ | 215 |  |  | $ | 215 |  |  | $ | 216 |  |  | $ | 216 |  |  | $ | 216 |  |  | $ | 217 |  |  | $ | 217 |  |  | $ | 217 |
2016 |  |  |  | 234 |  |  | 280 |  |  | 283 |  |  | 283 |  |  | 284 |  |  | 284 |  |  | 284 |  |  | 285 |  |  | 285 |
2017 |  |  |  |  |  | 294 |  |  | 332 |  |  | 333 |  |  | 334 |  |  | 335 |  |  | 336 |  |  | 336 |  |  | 337 |
2018 |  |  |  |  |  |  |  | 330 |  |  | 376 |  |  | 379 |  |  | 380 |  |  | 381 |  |  | 382 |  |  | 382 |
2019 |  |  |  |  |  |  |  |  |  | 108 |  |  | 152 |  |  | 156 |  |  | 158 |  |  | 160 |  |  | 161 |
2020 |  |  |  |  |  |  |  |  |  |  |  | 394 |  |  | 445 |  |  | 449 |  |  | 452 |  |  | 454 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 528 |  |  | 585 |  |  | 589 |  |  | 593 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 552 |  |  | 628 |  |  | 636 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 699 |  |  | 791 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 785 |
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance |  | $ | 4,641 |
Short-duration Insurance Contracts, Schedule of Historical Claims Duration | The following is supplementary information about average historical claims duration at December 31, 2024:
|  | Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years |  | 1 |  | 2 |  | 3 |  | 4 |  | 5 |  | 6 |  | 7 |  | 8 |  | 9 |  | 10
Group Life - Term |  | 75.9% |  | 21.6% |  | 1.0% |  | 0.3% |  | 0.5% |  | 0.2% |  | 0.1% |  | 0.1% |  | —% |  | —%
The following is supplementary information about average historical claims duration at December 31, 2024:
|  | Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years |  | 1 |  | 2 |  | 3 |  | 4 |  | 5 |  | 6 |  | 7 |  | 8 |  | 9 |  | 10
Group Long-term Disability |  | 5.0% |  | 24.2% |  | 13.5% |  | 9.3% |  | 6.7% |  | 6.0% |  | 4.9% |  | 4.8% |  | 4.9% |  | 4.0%
The following is supplementary information about average historical claims duration at December 31, 2024:
|  | Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years |  | 1 |  | 2 |  | 3 |  | 4 |  | 5 |  | 6 |  | 7 |  | 8 |  | 9 |  | 10
Group Disability & Group Life |  | 25.5% |  | 25.5% |  | 15.7% |  | 11.0% |  | 6.0% |  | 3.3% |  | 1.9% |  | 0.5% |  | (0.6)% |  | 1.4%
The following is supplementary information about average historical claims duration at December 31, 2024:
|  | Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years |  | 1 |  | 2 |  | 3 |  | 4 |  | 5 |  | 6 |  | 7 |  | 8 |  | 9 |  | 10
Protection Life |  | 57.7% |  | 31.1% |  | 4.6% |  | 1.8% |  | 0.7% |  | (0.1)% |  | (0.1)% |  | (0.4)% |  | 0.1% |  | 0.3%
The following is supplementary information about average historical claims duration at December 31, 2024:
|  | Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years |  | 1 |  | 2 |  | 3 |  | 4 |  | 5 |  | 6 |  | 7 |  | 8 |  | 9 |  | 10
Protection Health |  | 84.0% |  | 13.6% |  | 0.9% |  | 0.4% |  | 0.5% |  | 0.2% |  | —% |  | 0.4% |  | —% |  | —%
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability | The reconciliation of the net incurred and paid claims development tables to the liability for unpaid claims and claims adjustment expenses on the consolidated balance sheet was as follows at:
|  | December 31, 2024
|  | (In millions)
Short-Duration: |  |  |
Unpaid claims and allocated claims adjustment expenses, net of reinsurance: |  |  |
Group Benefits: |  |  |
Group Life - Term |  | $ | 3,159 |  |
Group Long-term Disability |  | 8,049 |  |
Total |  |  | $ | 11,208 |
Asia - Group Disability & Group Life |  |  | 938 |
Latin America: |  |  |
Protection Life |  | 386 |  |
Protection Health |  | 187 |  |
Total |  |  | 573 |
Other insurance lines - all segments combined |  |  | 1,697 |
Total unpaid claims and allocated claims adjustment expenses, net of reinsurance |  |  | 14,416 |
Reinsurance recoverables on unpaid claims: |  |  |
Group Benefits: |  |  |
Group Life - Term |  | 10 |  |
Group Long-term Disability |  | 297 |  |
Total |  |  | 307 |
Asia - Group Disability & Group Life |  |  | 428 |
Latin America: |  |  |
Protection Life |  | 11 |  |
Protection Health |  | 17 |  |
Total |  |  | 28 |
Other insurance lines - all segments combined |  |  | 276 |
Total reinsurance recoverable on unpaid claims |  |  | 1,039 |
Total unpaid claims and allocated claims adjustment expense |  |  | 15,455 |
Unallocated claims adjustment expenses |  |  | — |
Discounting |  |  | (1,672) |
Liability for unpaid claims and claim adjustment liabilities - short-duration |  |  | 13,783 |
Liability for unpaid claims and claim adjustment liabilities - all long-duration lines |  |  | 2,335 |
Total liability for unpaid claims and claim adjustment expense (includes $7.9 billion of FPBs and $8.2 billion of other policy-related balances) |  |  | $ | 16,118 |
Liabilities for Unpaid Claims and Claim Expenses | Information regarding the liabilities for unpaid claims and claim adjustment expenses was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (In millions)
Balance at January 1, |  | $ | 16,468 |  |  | $ | 16,098 |  |  | $ | 15,598 |
Less: Reinsurance recoverables |  | 2,592 |  |  | 2,452 |  |  | 2,629 |
Net balance at January 1, |  | 13,876 |  |  | 13,646 |  |  | 12,969 |
Incurred related to: |  |  |  |  |  |
Current year |  | 26,626 |  |  | 27,080 |  |  | 26,505 |
Prior years (1) |  | 57 |  |  | 374 |  |  | 668 |
Total incurred |  | 26,683 |  |  | 27,454 |  |  | 27,173 |
Paid related to: |  |  |  |  |  |
Current year |  | (20,607) |  |  | (20,220) |  |  | (19,917) |
Prior years |  | (6,624) |  |  | (7,004) |  |  | (6,579) |
Total paid |  | (27,231) |  |  | (27,224) |  |  | (26,496) |
Net balance at December 31, |  | 13,328 |  |  | 13,876 |  |  | 13,646 |
Add: Reinsurance recoverables |  | 2,790 |  |  | 2,592 |  |  | 2,452 |
Balance at December 31, |  | $ | 16,118 |  |  | $ | 16,468 |  |  | $ | 16,098 |
__________________ (1)For the years ended December 31, 2024 and 2023, incurred claims and claim adjustment expenses associated with prior years increased due to events incurred in prior years but reported in the current year. For the year ended December 31, 2022, incurred claims and claim adjustment expenses include expenses associated with prior years but reported in 2022 which contain impacts related to the COVID-19 pandemic, partially offset by additional premiums recorded for experience-rated contracts that are not reflected in the table above.

X
- Definition Tabular disclosure of present value of total expected payment to policyholder in excess of present value of total expected assessment from application of revised benefit ratio as of contract issue date. Excludes benefit classified as market risk benefit or under provisions of Topic 815 on derivative and hedging. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-6 + Details
Name: | us-gaap_AdditionalLiabilityLongDurationInsuranceTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InsuranceAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of beginning balance to ending balance for liability for future policy benefit, with separate presentation of expected future net premium and expected future benefit. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-29E Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-6 + Details
Name: | us-gaap_LiabilityForFuturePolicyBenefitActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range. + References No definition available. + Details
Name: | us-gaap_ScheduleOfLiabilityForFuturePolicyBenefitsByProductSegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
Name: | us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted information about claims development by accident year for short-duration insurance contracts. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 9E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-9E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4D -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4D Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4B + Details
Name: | us-gaap_ShortdurationInsuranceContractsClaimsDevelopmentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for the reconciliation of claims development to the liability for unpaid claims and claim adjustment expense for short-duration insurance contracts. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 9E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-9E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4C + Details
Name: | us-gaap_ShortdurationInsuranceContractsReconciliationOfClaimsDevelopmentToLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of average annual percentage payout of incurred claims by age, after reinsurance, for short-duration insurance contracts. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4G -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4G Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 9F -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-9F + Details
Name: | us-gaap_ShortdurationInsuranceContractsScheduleOfHistoricalClaimsDurationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration