MetLife, Inc. provides insurance, annuities and employee benefit programs. Through its subsidiaries and affiliates, the company operates in the United States, Japan, Latin America, Asia, Europe and the Middle East. Segments The company is organized into six segments, reflecting three geographic regions: Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; and Latin America (collectively, the Americas); Asia; and Europe, the Middle East and Africa (EMEA). In addition, the company reports certain of its results of operations in Corporate & Other, which includes MetLife Bank, National Association (MetLife Bank) and other business activities. Americas The company’s businesses in the Americas offer a range of protection products and services aimed at serving the financial needs of its customers throughout their lives. These products are sold to individuals and corporations, as well as other institutions, and their respective employees. Retail The company’s Retail segment is organized into two businesses: Life & Other and Annuities. The major products within Life & Other are as follows: Variable Life: Variable life products provide insurance coverage through a contract that gives the policyholder flexibility in investment choices and, depending on the product, in premium payments and coverage amounts, with certain guarantees. Most importantly, with variable life products, premiums and account balances can be directed by the policyholder into various separate account investment options or directed to the company’s general account. In the separate account investment options, the policyholder bears the entire risk of the investment results. The company collects specified fees for the management of the investment options. In some instances, third-party money management firms manage these investment options. Universal Life: Universal life products provide insurance coverage on the same basis as variable life, except that premiums, and the resulting accumulated balances, are allocated only to the company’s general account. Universal life products allow the insured to increase or decrease the amount of death benefit coverage over the term of the contract and the owner to adjust the frequency and amount of premium payments. The company credits premiums to an account maintained for the policyholder. Premiums are credited net of specified expenses. Term Life: Term life products provide a guaranteed benefit upon the death of the insured for a specified time period in return for the periodic payment of premiums. Specified coverage periods range from 1 year to 30 years. Term insurance products are sometimes referred to as pure protection products, in that there are typically no savings or investment elements. Whole Life: Whole life products provide a guaranteed benefit upon the death of the insured in return for the periodic payment of a fixed premium over a predetermined period. Premium payments may be required for the entire life of the contract period, to a specified age or period, and may be level or change in accordance with a predetermined schedule. Whole life insurance includes policies that provide a participation feature in the form of dividends. Disability: Disability products provide a benefit in the event of the disability of the insured. In most instances, this benefit is in the form of monthly income paid until the insured reaches age 65. Property & Casualty: These products include personal lines property & casualty insurance offered to individuals through various retail distribution channels, including independent agents, property & casualty specialists, and the individual distribution sales group. Auto insurance policies provide coverage for private passenger automobiles, utility automobiles and vans, motorcycles, motor homes, antique or classic automobiles and trailers. The company also offers traditional coverage, such as liability, uninsured motorist, no fault or personal injury protection, as well as collision and comprehensive insurance. Homeowners’ insurance policies provide protection for homeowners, renters, condominium owners and residential landlords aga