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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2017
Reinsurance Disclosures [Abstract]  
Effect of reinsurance
The Company entered into reinsurance transactions with Brighthouse in the normal course of business and such transactions will continue based upon business needs. Information regarding the significant effects of reinsurance transactions with Brighthouse was as follows:
 
Included on Consolidated Statements of Operations
 
Excluded from Consolidated Statements of Operations
 
Year
Ended
December 31,
 
Years
Ended
December 31,
 
2017 (1)
 
2017 (2)
 
2016
 
2015
 
(In millions)
Premiums
 
 
 
 
 
 
 
Reinsurance assumed
$
183

 
$
248

 
$
462

 
$
416

Reinsurance ceded
(4
)
 
(7
)
 
(9
)
 
(8
)
Net premiums
$
179

 
$
241

 
$
453

 
$
408

Universal life and investment-type product policy fees
 
 
 
 
 
 
 
Reinsurance assumed
$
(4
)
 
$
(6
)
 
$
(2
)
 
$
2

Reinsurance ceded
(44
)
 
(55
)
 
(102
)
 
(114
)
Net universal life and investment-type product policy fees
$
(48
)
 
$
(61
)
 
$
(104
)
 
$
(112
)
Policyholder benefits and claims
 
 
 
 
 
 
 
Reinsurance assumed
$
150

 
$
196

 
$
385

 
$
330

Reinsurance ceded
(22
)
 
(16
)
 
(23
)
 
(28
)
Net policyholder benefits and claims
$
128

 
$
180

 
$
362

 
$
302

Interest credited to policyholder account balances
 
 
 
 
 
 
 
Reinsurance assumed
$
6

 
$
10

 
$
16

 
$
14

Reinsurance ceded
(30
)
 
(42
)
 
(75
)
 
(78
)
Net interest credited to policyholder account balances
$
(24
)
 
$
(32
)
 
$
(59
)
 
$
(64
)
Other expenses
 
 
 
 
 
 
 
Reinsurance assumed
$
39

 
$
10

 
$
88

 
$
76

Reinsurance ceded
7

 
(28
)
 
(29
)
 
(45
)
Net other expenses
$
46

 
$
(18
)
 
$
59

 
$
31

__________________
(1)
Includes transactions after the Separation.
(2)
Includes transactions prior to the Separation.
Information regarding the significant effects of reinsurance transactions with Brighthouse included on the consolidated balance sheets was as follows at:
 
December 31, 2017
 
Assumed
 
Ceded
 
(In millions)
Assets
 
 
 
Premiums, reinsurance and other receivables
$
167

 
$
1,793

Deferred policy acquisition costs and value of business acquired
384

 
(40
)
Total assets
$
551

 
$
1,753

Liabilities
 
 
 
Future policy benefits
$
1,734

 
$
—

Other policy-related balances
119

 
28

Other liabilities
1,458

 
19

Total liabilities
$
3,311

 
$
47

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,
 
 
2017
 
2016
 
 
Direct
 
Assumed
 
Ceded
 
Total
Balance
Sheet
 
Direct
 
Assumed
 
Ceded
 
Total
Balance
Sheet
 
 
(In millions)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Premiums, reinsurance and other receivables
 
$
6,300

 
$
866

 
$
11,257

 
$
18,423

 
$
5,927

 
$
543

 
$
8,975

 
$
15,445

Deferred policy acquisition costs and value of business acquired
 
18,350

 
398

 
(329
)
 
18,419

 
17,878

 
16

 
(304
)
 
17,590

Total assets
 
$
24,650

 
$
1,264

 
$
10,928

 
$
36,842

 
$
23,805

 
$
559

 
$
8,671

 
$
33,035

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future policy benefits
 
$
174,694

 
$
3,280

 
$
—

 
$
177,974

 
$
165,121

 
$
1,515

 
$
—

 
$
166,636

Policyholder account balances
 
182,226

 
293

 
(1
)
 
182,518

 
171,961

 
527

 
(2
)
 
172,486

Other policy-related balances
 
14,962

 
520

 
33

 
15,515

 
13,071

 
324

 
7

 
13,402

Other liabilities
 
17,077

 
1,896

 
5,009

 
23,982

 
18,815

 
405

 
4,515

 
23,735

Total liabilities
 
$
388,959

 
$
5,989

 
$
5,041

 
$
399,989

 
$
368,968

 
$
2,771

 
$
4,520

 
$
376,259

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,
 
 
2017
 
2016
 
2015
 
 
(In millions)
Premiums
 
 
 
 
 
 
Direct premiums
 
$
39,595

 
$
37,975

 
$
37,044

Reinsurance assumed
 
1,773

 
1,363

 
1,382

Reinsurance ceded
 
(2,376
)
 
(2,136
)
 
(2,023
)
Net premiums
 
$
38,992

 
$
37,202

 
$
36,403

Universal life and investment-type product policy fees
 
 
 
 
 
 
Direct universal life and investment-type product policy fees
 
$
5,978

 
$
5,884

 
$
5,952

Reinsurance assumed
 
83

 
96

 
105

Reinsurance ceded
 
(551
)
 
(497
)
 
(487
)
Net universal life and investment-type product policy fees
 
$
5,510

 
$
5,483

 
$
5,570

Policyholder benefits and claims
 
 
 
 
 
 
Direct policyholder benefits and claims
 
$
39,354

 
$
37,186

 
$
36,143

Reinsurance assumed
 
1,388

 
1,085

 
984

Reinsurance ceded
 
(2,429
)
 
(1,913
)
 
(1,983
)
Net policyholder benefits and claims
 
$
38,313

 
$
36,358

 
$
35,144

Other expenses
 
 
 
 
 
 
Direct other expenses
 
$
13,610

 
$
13,958

 
$
14,934

Reinsurance assumed
 
246

 
169

 
146

Reinsurance ceded
 
(235
)
 
(378
)
 
(303
)
Net other expenses
 
$
13,621

 
$
13,749

 
$
14,777