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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2016
Reinsurance Disclosures [Abstract]  
Effect of reinsurance
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
 
$
5,927

 
$
543

 
$
8,975

 
$
15,445

 
$
5,490

 
$
523

 
$
7,213

 
$
13,226

Deferred policy acquisition costs and value of business acquired
 
17,878

 
16

 
(304
)
 
17,590

 
17,860

 
22

 
(464
)
 
17,418

Total assets
 
$
23,805

 
$
559

 
$
8,671

 
$
33,035

 
$
23,350

 
$
545

 
$
6,749

 
$
30,644

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future policy benefits
 
$
165,186

 
$
1,515

 
$
—

 
$
166,701

 
$
159,868

 
$
1,398

 
$
—

 
$
161,266

Policyholder account balances
 
171,961

 
1,209

 
(2
)
 
173,168

 
164,655

 
975

 
(2
)
 
165,628

Other policy-related balances
 
12,699

 
324

 
7

 
13,030

 
12,597

 
290

 
6

 
12,893

Other liabilities
 
18,780

 
405

 
4,515

 
23,700

 
16,985

 
414

 
2,893

 
20,292

Total liabilities
 
$
368,626

 
$
3,453

 
$
4,520

 
$
376,599

 
$
354,105

 
$
3,077

 
$
2,897

 
$
360,079

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
 
$
37,975

 
$
37,044

 
$
37,614

Reinsurance assumed
 
1,363

 
1,382

 
1,433

Reinsurance ceded
 
(2,136
)
 
(2,023
)
 
(2,077
)
Net premiums
 
$
37,202

 
$
36,403

 
$
36,970

Universal life and investment-type product policy fees
 
 
 
 
 
 
Direct universal life and investment-type product policy fees
 
$
5,883

 
$
5,952

 
$
6,271

Reinsurance assumed
 
96

 
105

 
19

Reinsurance ceded
 
(497
)
 
(487
)
 
(466
)
Net universal life and investment-type product policy fees
 
$
5,482

 
$
5,570

 
$
5,824

Policyholder benefits and claims
 
 
 
 
 
 
Direct policyholder benefits and claims
 
$
37,144

 
$
36,101

 
$
36,492

Reinsurance assumed
 
1,085

 
984

 
939

Reinsurance ceded
 
(1,913
)
 
(1,983
)
 
(2,038
)
Net policyholder benefits and claims
 
$
36,316

 
$
35,102

 
$
35,393

Other expenses
 
 
 
 
 
 
Direct other expenses
 
$
13,911

 
$
14,916

 
$
14,847

Reinsurance assumed
 
202

 
140

 
151

Reinsurance ceded
 
(378
)
 
(303
)
 
(379
)
Net other expenses
 
$
13,735

 
$
14,753

 
$
14,619