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Deferred Policy Acquisition Costs, Value of Business Acquired and Unearned Revenue (Tables)

9 Months Ended

Sep. 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			19						131						1,204						551						413						8						11						2,337
Amortization			(20)						(51)						(613)						(385)						(260)						(159)						(7)						(1,495)
Effect of foreign currency translation and other, net			—						—						342						219						149						—						3						713
Balance at September 30, 2025			$	249					$	632					$	11,718					$	2,221					$	1,966					$	2,912					$	35					$	19,733
Balance at January 1, 2024			$	258					$	397					$	10,864					$	1,950					$	1,618					$	3,271					$	30					$	18,388
Capitalizations			13						160						1,032						527						362						13						7						2,114
Amortization			(19)						(43)						(579)						(348)						(254)						(171)						(6)						(1,420)
Effect of foreign currency translation and other, net			—						—						(71)						(224)						(5)						—						—						(300)
Balance at September 30, 2024			$	252					$	514					$	11,246					$	1,905					$	1,721					$	3,113					$	31					$	18,782
VOBA:
Balance at January 1, 2025			$	—					$	13					$	935					$	393					$	94					$	14					$	—					$	1,449
Amortization			—						(2)						(49)						(30)						(10)						(2)						—						(93)
Effect of foreign currency translation and other, net			—						—						60						18						8						—						—						86
Balance at September 30, 2025			$	—					$	11					$	946					$	381					$	92					$	12					$	—					$	1,442
Balance at January 1, 2024			$	—					$	16					$	1,119					$	497					$	113					$	18					$	—					$	1,763
Amortization			—						(2)						(55)						(32)						(11)						(3)						—						(103)
Effect of foreign currency translation and other, net			—						—						(19)						(22)						—						—						—						(41)
Balance at September 30, 2024			$	—					$	14					$	1,045					$	443					$	102					$	15					$	—					$	1,619
Total DAC and VOBA:
Balance at September 30, 2025																																													$	21,175
Balance at September 30, 2024																																													$	20,401
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:

						Nine Months Ended September 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						2						377						104						92						9						584
Amortization						(5)						(180)						(84)						(50)						(4)						(323)
Effect of foreign currency translation and other, net						—						32						102						45						—						179
Balance, end of period						$	24					$	3,305					$	963					$	709					$	74					$	5,075
						Nine Months Ended September 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						424						111						72						12						620
Amortization						(4)						(167)						(88)						(51)						(4)						(314)
Effect of foreign currency translation and other, net						—						(9)						(124)						3						—						(130)
Balance, end of period						$	28					$	3,098					$	888					$	632					$	67					$	4,713

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Tabular disclosure of the movement in deferred policy acquisition costs.

+ 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/2009/role/commonPracticeRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479432/944-30-50-2B

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479432/944-30-50-2B

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479401/944-30-55-2

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Tabular disclosure of the type of arrangements and the corresponding amounts that comprise the current and noncurrent balance of deferred revenue as of the balance sheet date.

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