MetLife 2007 Annual Report Download - page 123

Estimated
Fair
Value
Gross
Unrealized
Loss
Estimated
Fair
Value
Gross
Unrealized
Loss
Estimated
Fair
Value
Gross
Unrealized
Loss
Less than 12 months Equal to or Greater than 12 months Total
December 31, 2006
(In millions, except number of securities)
U.S.corporatesecurities......................... $17,537 $285 $16,780 $ 698 $ 34,317 $ 983
Residential mortgage-backed securities . . . . . . . . . . . . . . . . 15,300 78 13,640 243 28,940 321
Foreign corporate securities . . . . . . . . . . . . . . . . . . . . . . . 6,401 102 7,277 276 13,678 378
U.S. Treasury/agency securities . . . . . . . . . . . . . . . . . . . . . 15,006 157 1,560 91 16,566 248
Commercial mortgage-backed securities . . . . . . . . . . . . . . . 4,960 30 4,029 108 8,989 138
Foreigngovernmentsecurities...................... 1,160 18 507 16 1,667 34
Asset-backedsecurities.......................... 4,519 31 1,077 22 5,596 53
State and political subdivision securities . . . . . . . . . . . . . . . 334 12 532 39 866 51
Otherfixedmaturitysecurities...................... 146 77 4 — 150 77
Total fixed maturity securities . . . . . . . . . . . . . . . . . . . . . $65,363 $790 $45,406 $1,493 $110,769 $2,283
Equitysecurities............................... $ 832 $ 20 $ 567 $ 25 $ 1,399 $ 45
Total number of securities in an unrealized loss position . . . . . 10,529 4,640
Aging of Gross Unrealized Loss for Fixed Maturity and Equity Securities Available-for-Sale
The following tables present the cost or amortized cost, gross unrealized loss and number of securities for fixed maturity and equity
securities, where the estimated fair value had declined and remained below cost or amortized cost by less than 20%, or 20% or more at:
Less than
20% 20% or more Less than 20% 20% or more Less than 20% 20% or more
Cost or Amortized
Cost Gross Unrealized Loss Number of Securities
December 31, 2007
(In millions, except number of securities)
Lessthansixmonths............................ $ 49,463 $1,943 $1,670 $555 6,339 644
Six months or greater but less than nine months . . . . . . . . . . 17,353 23 844 7 1,461 31
Nine months or greater but less than twelve months . . . . . . . . 9,410 7 568 2 791 1
Twelvemonthsorgreater.......................... 31,731 50 1,262 13 3,192 32
Total ..................................... $107,957 $2,023 $4,344 $577
Less than
20% 20% or more Less than 20% 20% or more Less than 20% 20% or more
Cost or Amortized
Cost Gross Unrealized Loss Number of Securities
December 31, 2006
(In millions, except number of securities)
Lessthansixmonths............................. $ 52,222 $35 $ 547 $12 9,093 81
Sixmonthsorgreaterbutlessthanninemonths ........... 2,682 3 42 1 415 2
Nine months or greater but less than twelve months . . . . . . . . . 12,049 14 204 4 937 1
Twelvemonthsorgreater .......................... 47,462 29 1,511 7 4,634 6
Total...................................... $114,415 $81 $2,304 $24
At December 31, 2007 and 2006, $4.3 billion and $2.3 billion, respectively, of unrealized losses related to securities with an unrealized
loss position of less than 20% of cost or amortized cost, which represented 4% and 2%, respectively, of the cost or amortized cost of such
securities.
At December 31, 2007, $577 million of unrealized losses related to securities with an unrealized loss position of 20% or more of cost or
amortized cost, which represented 29% of the cost or amortized cost of such securities. Of such unrealized losses of $577 million,
$555 million related to securities that were in an unrealized loss position for a period of less than six months. At December 31, 2006,
$24 million of unrealized losses related to securities with an unrealized loss position of 20% or more of cost or amortized cost, which
represented 30% of the cost or amortized cost of such securities. Of such unrealized losses of $24 million, $12 million related to securities
that were in an unrealized loss position for a period of less than six months.
The Company held 30 fixed maturity and equity securities, each with a gross unrealized loss at December 31, 2007 of greater than
$10 million. These securities represented 9%, or $459 million in the aggregate, of the gross unrealized loss on fixed maturity and equity
securities. The Company held eight fixed maturity and equity securities, each with a gross unrealized loss at December 31, 2006 of greater
than $10 million. These securities represented 7%, or $169 million in the aggregate, of the gross unrealized loss on fixed maturity and
equity securities.
F-27MetLife, Inc.
MetLife, Inc.
Notes to Consolidated Financial Statements — (Continued)