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Market Risk Benefits (Tables) | 6 Months Ended
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Jun. 30, 2025
Insurance [Abstract] |
Market Risk Benefit | The Company’s MRB assets and MRB liabilities on the interim condensed consolidated balance sheets were as follows at:
|  | June 30, 2025 |  | December 31, 2024
|  | Asset |  | Liability |  | Net |  | Asset |  | Liability |  | Net
|  | (In millions)
Asia - Retirement Assurance |  | $ | — |  | $ | 191 |  | $ | 191 |  | $ | — |  | $ | 178 |  | $ | 178
MetLife Holdings - Annuities |  | 210 |  |  | 2,424 |  |  | 2,214 |  | 231 |  |  | 2,300 |  |  | 2,069
Other |  | 142 |  |  | 94 |  |  | (48) |  | 141 |  |  | 103 |  |  | (38)
Total |  | $ | 352 |  | $ | 2,709 |  | $ | 2,357 |  | $ | 372 |  | $ | 2,581 |  | $ | 2,209
Market Risk Benefit, Activity | Information regarding this liability was as follows:
|  | Six Months Ended June 30,
|  | 2025 |  | 2024
|  | (In millions)
Balance, beginning of period |  | $ | 178 |  |  | $ | 203 |
Balance, beginning of period, before effect of cumulative changes in the instrument-specific credit risk |  | $ | 179 |  |  | $ | 205 |
Attributed fees collected |  | 2 |  |  | 2 |
Benefit payments |  | (7) |  |  | (6) |
Effect of changes in interest rates |  | 2 |  |  | 4 |
Actual policyholder behavior different from expected behavior |  | — |  |  | (1) |
Effect of foreign currency translation and other, net |  | 16 |  |  | (26) |
Balance, end of period, before the cumulative effect of changes in the instrument-specific credit risk |  | 192 |  |  | 178 |
Cumulative effect of changes in the instrument-specific credit risk |  | (1) |  |  | (1) |
Balance, end of period |  | $ | 191 |  |  | $ | 177 |
At period end: |  |  |  |
Net amount at risk, excluding offsets from hedging: |  |  |  |
At annuitization or exercise of other living benefits |  | $ | 129 |  |  | $ | 111 |
Weighted-average attained age of contractholders: |  |  |  |
At annuitization or exercise of other living benefits |  | 58 years |  | 58 years
Information regarding MetLife Holdings annuity products (including assumed reinsurance) was as follows:
|  | Six Months Ended June 30,
|  | 2025 |  | 2024
| (In millions)
Balance, beginning of period |  | $ | 2,069 |  | $ | 2,722
Balance, beginning of period, before effect of cumulative changes in the instrument-specific credit risk |  | $ | 1,992 |  | $ | 2,772
Attributed fees collected |  | 167 |  | 179
Benefit payments |  | (46) |  | (45)
Effect of changes in interest rates |  | 23 |  | (556)
Effect of changes in capital markets |  | (195) |  | (372)
Effect of changes in equity index volatility |  | (4) |  | 26
Actual policyholder behavior different from expected behavior |  | 141 |  | 132
Effect of foreign currency translation and other, net |  | 75 |  | 5
Effect of changes in risk margin |  | (2) |  | (62)
Balance, end of period, before the cumulative effect of changes in the instrument-specific credit risk |  | 2,151 |  | 2,079
Cumulative effect of changes in the instrument-specific credit risk |  | 61 |  | 76
Effect of foreign currency translation on the cumulative instrument-specific credit risk |  | 2 |  | (2)
Balance, end of period |  | $ | 2,214 |  | $ | 2,153
At period end: |  |  |  |
Net amount at risk, excluding offsets from hedging (1): |  |  |  |
In the event of death |  | $ | 2,452 |  |  | $ | 2,544 |
At annuitization or exercise of other living benefits |  | $ | 724 |  |  | $ | 671 |
Weighted-average attained age of contractholders: |  |  |  |
In the event of death |  | 72 years |  | 71 years
At annuitization or exercise of other living benefits |  | 72 years |  | 70 years
__________________ (1)Includes amounts for certain variable annuity guarantees recorded as MRBs on contracts also recorded as PABs which are disclosed in “MetLife Holdings – Annuities” in Note 5. Information regarding these product liabilities (assets) was as follows:
|  | Six Months Ended June 30,
|  | 2025 |  | 2024
|  | (In millions)
Balance, beginning of period |  | $ | (38) |  |  | $ | (32) |
Balance, beginning of period, before effect of cumulative changes in the instrument-specific credit risk |  | $ | (53) |  |  | $ | (50) |
Attributed fees collected |  | 23 |  |  | 25 |
Benefit payments |  | (2) |  |  | (3) |
Effect of changes in interest rates |  | (17) |  |  | (46) |
Effect of changes in capital markets |  | (14) |  |  | (15) |
Effect of changes in equity index volatility |  | — |  |  | (1) |
Actual policyholder behavior different from expected behavior |  | 6 |  |  | 4 |
Effect of foreign currency translation and other, net |  | (9) |  |  | (2) |
Effect of changes in risk margin |  | (1) |  |  | (1) |
Balance, end of period, before the cumulative effect of changes in the instrument-specific credit risk |  | (67) |  |  | (89) |
Cumulative effect of changes in the instrument-specific credit risk |  | 17 |  |  | 21 |
Effect of foreign currency translation on the cumulative instrument-specific credit risk |  | 2 |  |  | — |
Balance, end of period |  | (48) |  |  | (68) |
Less: Reinsurance recoverable |  | 15 |  |  | 11 |
Balance, end of period, net of reinsurance |  | $ | (63) |  |  | $ | (79) |

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- Definition Tabular disclosure of beginning balance to ending balance for contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29G -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-29G Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 7B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-7B + Details
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