MetLife 2011 Annual Report Download - page 186

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
Information regarding the liabilities for guarantees (excluding base policy liabilities) relating to annuity and universal and variable life contracts was as
follows:
Annuity Contracts Universal and Variable Life Contracts
Guaranteed
Death
Benefits
Guaranteed
Annuitization
Benefits Secondary Guarantees Paid-Up Guarantees Total
(In millions)
Direct and Assumed
Balance at January 1, 2009 .......................... $251 $403 $ 271 $140 $1,065
Incurred guaranteed benefits ......................... 118 (1) 233 34 384
Paid guaranteed benefits ............................ (201) — — — (201)
Balance at December 31, 2009 ...................... 168 402 504 174 1,248
Acquisitions ...................................... 46 110 2,952 — 3,108
Incurred guaranteed benefits ......................... 149 111 536 24 820
Paid guaranteed benefits ............................ (91) — (1) — (92)
Balance at December 31, 2010 ...................... 272 623 3,991 198 5,084
Incurred guaranteed benefits ......................... 273 269 496 23 1,061
Paid guaranteed benefits ............................ (113) (10) (24) — (147)
Balance at December 31, 2011 ...................... $432 $882 $4,463 $221 $5,998
Ceded
Balance at January 1, 2009 .......................... $ 8 $ — $ 80 $ 90 $ 178
Incurred guaranteed benefits ......................... 26 — 102 32 160
Paid guaranteed benefits ............................ (28) — — — (28)
Balance at December 31, 2009 ...................... 6 — 182 122 310
Acquisitions ...................................... 30 — — — 30
Incurred guaranteed benefits ......................... 18 (1) 412 17 446
Paid guaranteed benefits ............................ (15) — — — (15)
Balance at December 31, 2010 ...................... 39 (1) 594 139 771
Incurred guaranteed benefits ......................... 35 9 20 16 80
Paid guaranteed benefits ............................ (20) — — — (20)
Balance at December 31, 2011 ...................... $ 54 $ 8 $ 614 $155 $ 831
Net
Balance at January 1, 2009 .......................... $243 $403 $ 191 $ 50 $ 887
Incurred guaranteed benefits ......................... 92 (1) 131 2 224
Paid guaranteed benefits ............................ (173) — — — (173)
Balance at December 31, 2009 ...................... 162 402 322 52 938
Acquisitions ...................................... 16 110 2,952 — 3,078
Incurred guaranteed benefits ......................... 131 112 124 7 374
Paid guaranteed benefits ............................ (76) — (1) — (77)
Balance at December 31, 2010 ...................... 233 624 3,397 59 4,313
Incurred guaranteed benefits ......................... 238 260 476 7 981
Paid guaranteed benefits ............................ (93) (10) (24) — (127)
Balance at December 31, 2011 ...................... $378 $874 $3,849 $ 66 $5,167
182 MetLife, Inc.