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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2016
Reinsurance Disclosures [Abstract]  
Effect of reinsurance
The amounts on the consolidated statements of operations include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows:
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
 
 
(In millions)
Premiums
 
 
 
 
 
 
Direct premiums
 
$
40,271

 
$
39,516

 
$
40,049

Reinsurance assumed
 
1,405

 
1,454

 
1,472

Reinsurance ceded
 
(2,523
)
 
(2,425
)
 
(2,454
)
Net premiums
 
$
39,153

 
$
38,545

 
$
39,067

Universal life and investment-type product policy fees
 
 
 
 
 
 
Direct universal life and investment-type product policy fees
 
$
10,183

 
$
10,424

 
$
10,768

Reinsurance assumed
 
96

 
105

 
126

Reinsurance ceded
 
(1,073
)
 
(1,022
)
 
(948
)
Net universal life and investment-type product policy fees
 
$
9,206

 
$
9,507

 
$
9,946

Policyholder benefits and claims
 
 
 
 
 
 
Direct policyholder benefits and claims
 
$
43,422

 
$
41,233

 
$
41,573

Reinsurance assumed
 
1,109

 
1,023

 
962

Reinsurance ceded
 
(3,727
)
 
(3,542
)
 
(3,433
)
Net policyholder benefits and claims
 
$
40,804

 
$
38,714

 
$
39,102

Other expenses
 
 
 
 
 
 
Direct other expenses
 
$
15,163

 
$
16,968

 
$
17,334

Reinsurance assumed
 
317

 
130

 
165

Reinsurance ceded
 
(411
)
 
(329
)
 
(408
)
Net other expenses
 
$
15,069

 
$
16,769

 
$
17,091

The amounts on the consolidated balance sheets include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows at:
 
 
December 31,
 
 
2016
 
2015
 
 
Direct
 
Assumed
 
Ceded
 
Total
Balance
Sheet
 
Direct
 
Assumed
 
Ceded
 
Total
Balance
Sheet
 
 
(In millions)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Premiums, reinsurance and other receivables
 
$
7,109

 
$
543

 
$
18,429

 
$
26,081

 
$
6,044

 
$
555

 
$
16,103

 
$
22,702

Deferred policy acquisition costs and value of business acquired
 
25,099

 
16

 
(317
)
 
24,798

 
24,490

 
120

 
(480
)
 
24,130

Total assets
 
$
32,208

 
$
559

 
$
18,112

 
$
50,879

 
$
30,534

 
$
675

 
$
15,623

 
$
46,832

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future policy benefits
 
$
198,436

 
$
1,535

 
$
—

 
$
199,971

 
$
189,817

 
$
2,062

 
$
—

 
$
191,879

Policyholder account balances
 
209,028

 
1,209

 
(2
)
 
210,235

 
201,748

 
975

 
(1
)
 
202,722

Other policy-related balances
 
14,055

 
324

 
7

 
14,386

 
13,939

 
310

 
6

 
14,255

Other liabilities
 
23,513

 
407

 
4,898

 
28,818

 
19,800

 
472

 
3,289

 
23,561

Total liabilities
 
$
445,032

 
$
3,475

 
$
4,903

 
$
453,410

 
$
425,304

 
$
3,819

 
$
3,294

 
$
432,417