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Deferred Policy Acquisition Costs, Value of Business Acquired and Unearned Revenue (Tables) | 6 Months Ended
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Jun. 30, 2025
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract] |
Deferred Policy Acquisition Costs | Information regarding total DAC and VOBA by segment, as well as Corporate & Other, was as follows at:
| Group Benefits |  | RIS |  | Asia (1) |  | Latin America (2) |  | EMEA (2) |  | MetLife Holdings (3) |  | Corporate & Other |  | Total |
| (In millions) |
DAC: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2025 | $ | 250 |  |  | $ | 552 |  |  | $ | 10,785 |  |  | $ | 1,836 |  |  | $ | 1,664 |  |  | $ | 3,063 |  |  | $ | 28 |  |  | $ | 18,178 |  |
Capitalizations | 12 |  |  | 81 |  |  | 769 |  |  | 348 |  |  | 262 |  |  | 7 |  |  | 6 |  |  | 1,485 |  |
Amortization | (13) |  |  | (34) |  |  | (417) |  |  | (247) |  |  | (178) |  |  | (107) |  |  | (4) |  |  | (1,000) |  |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | 499 |  |  | 177 |  |  | 145 |  |  | — |  |  | 3 |  |  | 824 |  |
Balance at June 30, 2025 | $ | 249 |  |  | $ | 599 |  |  | $ | 11,636 |  |  | $ | 2,114 |  |  | $ | 1,893 |  |  | $ | 2,963 |  |  | $ | 33 |  |  | $ | 19,487 |  |
Balance at January 1, 2024 | $ | 258 |  |  | $ | 397 |  |  | $ | 10,864 |  |  | $ | 1,950 |  |  | $ | 1,618 |  |  | $ | 3,271 |  |  | $ | 30 |  |  | $ | 18,388 |  |
Capitalizations | 9 |  |  | 107 |  |  | 696 |  |  | 353 |  | 243 |  |  | 9 |  |  | 6 |  |  | 1,423 |  |
Amortization | (13) |  |  | (30) |  |  | (379) |  |  | (232) |  |  | (166) |  |  | (114) |  |  | (3) |  |  | (937) |  |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (618) |  |  | (156) |  |  | (49) |  |  | — |  |  | (1) |  |  | (824) |  |
Balance at June 30, 2024 | $ | 254 |  |  | $ | 474 |  |  | $ | 10,563 |  |  | $ | 1,915 |  |  | $ | 1,646 |  |  | $ | 3,166 |  |  | $ | 32 |  |  | $ | 18,050 |  |
VOBA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2025 | $ | — |  |  | $ | 13 |  |  | $ | 935 |  |  | $ | 393 |  |  | $ | 94 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 1,449 |  |
Amortization | — |  |  | (1) |  |  | (33) |  |  | (19) |  |  | (6) |  |  | (1) |  |  | — |  |  | (60) |  |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | 81 |  |  | 27 |  |  | 9 |  |  | — |  |  | — |  |  | 117 |  |
Balance at June 30, 2025 | $ | — |  |  | $ | 12 |  |  | $ | 983 |  |  | $ | 401 |  |  | $ | 97 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 1,506 |  |
Balance at January 1, 2024 | $ | — |  |  | $ | 16 |  |  | $ | 1,119 |  |  | $ | 497 |  |  | $ | 113 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 1,763 |  |
Amortization | — |  |  | (1) |  |  | (38) |  |  | (22) |  |  | (7) |  |  | (2) |  |  | — |  |  | (70) |  |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (136) |  |  | (36) |  |  | (3) |  |  | — |  |  | — |  |  | (175) |  |
Balance at June 30, 2024 | $ | — |  |  | $ | 15 |  |  | $ | 945 |  |  | $ | 439 |  |  | $ | 103 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 1,518 |  |
Total DAC and VOBA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 20,993 |  |
Balance at June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 19,568 |  |
Balance at December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 19,627 |  |
__________________ (1)Includes DAC balances primarily related to accident & health, universal and variable universal life, variable life and fixed annuity products and VOBA balances primarily related to accident & health products. (2)Includes DAC balances primarily related to universal life, variable universal life, ordinary life and accident & health products. (3)Includes DAC balances primarily related to whole life, variable annuities, term life, universal life, variable universal life and long-term care products.
Unearned Revenue | Information regarding the Company’s unearned revenue primarily related to universal life and variable universal life products by segment included in other policy-related balances was as follows:
|  | Six Months Ended June 30, 2025
|  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Total
|  | (In millions)
Balance, beginning of period |  | $ | 27 |  |  | $ | 3,076 |  |  | $ | 841 |  |  | $ | 622 |  |  | $ | 69 |  |  | $ | 4,635 |
Deferrals |  | 1 |  |  | 229 |  |  | 68 |  |  | 59 |  |  | 6 |  |  | 363 |
Amortization |  | (3) |  |  | (124) |  |  | (55) |  |  | (37) |  |  | (3) |  |  | (222) |
Effect of foreign currency translation and other, net |  | — |  |  | 52 |  |  | 81 |  |  | 39 |  |  | — |  |  | 172 |
Balance, end of period |  | $ | 25 |  |  | $ | 3,233 |  |  | $ | 935 |  |  | $ | 683 |  |  | $ | 72 |  |  | $ | 4,948 |
|  | Six Months Ended June 30, 2024
|  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Total
|  | (In millions)
Balance, beginning of period |  | $ | 31 |  |  | $ | 2,850 |  |  | $ | 989 |  |  | $ | 608 |  |  | $ | 59 |  |  | $ | 4,537 |
Deferrals |  | 1 |  |  | 285 |  |  | 75 |  |  | 49 |  |  | 8 |  |  | 418 |
Amortization |  | (3) |  |  | (107) |  |  | (60) |  |  | (34) |  |  | (2) |  |  | (206) |
Effect of foreign currency translation and other, net |  | — |  |  | (50) |  |  | (74) |  |  | (11) |  |  | — |  |  | (135) |
Balance, end of period |  | $ | 29 |  |  | $ | 2,978 |  |  | $ | 930 |  |  | $ | 612 |  |  | $ | 65 |  |  | $ | 4,614 |

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