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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2018
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
 
Years
Ended
December 31,
 
Years
Ended
December 31,
 
2018
 
2017 (1)
 
2017 (2)
 
2016
 
(In millions)
Premiums
 
 
 
 
 
 
 
Reinsurance assumed
$
401

 
$
183

 
$
248

 
$
462

Reinsurance ceded
(13
)
 
(4
)
 
(7
)
 
(9
)
Net premiums
$
388

 
$
179

 
$
241

 
$
453

Universal life and investment-type product policy fees
 
 
 
 
 
 
 
Reinsurance assumed
$
7

 
$
(4
)
 
$
(6
)
 
$
(2
)
Reinsurance ceded
(96
)
 
(44
)
 
(55
)
 
(102
)
Net universal life and investment-type product policy fees
$
(89
)
 
$
(48
)
 
$
(61
)
 
$
(104
)
Policyholder benefits and claims
 
 
 
 
 
 
 
Reinsurance assumed
$
328

 
$
150

 
$
196

 
$
385

Reinsurance ceded
(36
)
 
(22
)
 
(16
)
 
(23
)
Net policyholder benefits and claims
$
292

 
$
128

 
$
180

 
$
362

Interest credited to policyholder account balances
 
 
 
 
 
 
 
Reinsurance assumed
$
14

 
$
6

 
$
10

 
$
16

Reinsurance ceded
(71
)
 
(30
)
 
(42
)
 
(75
)
Net interest credited to policyholder account balances
$
(57
)
 
$
(24
)
 
$
(32
)
 
$
(59
)
Other expenses
 
 
 
 
 
 
 
Reinsurance assumed
$
105

 
$
39

 
$
10

 
$
88

Reinsurance ceded
(29
)
 
7

 
(28
)
 
(29
)
Net other expenses
$
76

 
$
46

 
$
(18
)
 
$
59

__________________
(1)
Includes transactions after the Separation.
(2)
Includes transactions prior to the Separation.
Information regarding the related party 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,
 
 
2018
 
2017
 
 
Direct
 
Assumed
 
Ceded
 
Total
Balance
Sheet
 
Direct
 
Assumed
 
Ceded
 
Total
Balance
Sheet
 
 
(In millions)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Premiums, reinsurance and other receivables
 
$
5,988

 
$
1,603

 
$
12,053

 
$
19,644

 
$
6,300

 
$
866

 
$
11,257

 
$
18,423

Deferred policy acquisition costs and value of business acquired
 
18,812

 
385

 
(302
)
 
18,895

 
18,350

 
398

 
(329
)
 
18,419

Total assets
 
$
24,800

 
$
1,988

 
$
11,751

 
$
38,539

 
$
24,650

 
$
1,264

 
$
10,928

 
$
36,842

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future policy benefits
 
$
183,367

 
$
3,413

 
$
—

 
$
186,780

 
$
174,694

 
$
3,280

 
$
—

 
$
177,974

Policyholder account balances
 
183,207

 
488

 
(2
)
 
183,693

 
182,226

 
293

 
(1
)
 
182,518

Other policy-related balances
 
15,519

 
986

 
24

 
16,529

 
14,962

 
520

 
33

 
15,515

Other liabilities
 
14,848

 
2,131

 
5,985

 
22,964

 
17,077

 
1,896

 
5,009

 
23,982

Total liabilities
 
$
396,941

 
$
7,018

 
$
6,007

 
$
409,966

 
$
388,959

 
$
5,989

 
$
5,041

 
$
399,989

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,
 
 
2018
 
2017
 
2016
 
 
(In millions)
Premiums
 
 
 
 
 
 
Direct premiums
 
$
44,199

 
$
39,595

 
$
37,975

Reinsurance assumed
 
2,021

 
1,773

 
1,363

Reinsurance ceded
 
(2,380
)
 
(2,376
)
 
(2,136
)
Net premiums
 
$
43,840

 
$
38,992

 
$
37,202

Universal life and investment-type product policy fees
 
 
 
 
 
 
Direct universal life and investment-type product policy fees
 
$
6,008

 
$
5,978

 
$
5,884

Reinsurance assumed
 
86

 
83

 
96

Reinsurance ceded
 
(592
)
 
(551
)
 
(497
)
Net universal life and investment-type product policy fees
 
$
5,502

 
$
5,510

 
$
5,483

Policyholder benefits and claims
 
 
 
 
 
 
Direct policyholder benefits and claims
 
$
43,456

 
$
39,354

 
$
37,186

Reinsurance assumed
 
1,583

 
1,388

 
1,085

Reinsurance ceded
 
(2,383
)
 
(2,429
)
 
(1,913
)
Net policyholder benefits and claims
 
$
42,656

 
$
38,313

 
$
36,358

Other expenses
 
 
 
 
 
 
Direct other expenses
 
$
13,704

 
$
13,610

 
$
13,958

Reinsurance assumed
 
321

 
246

 
169

Reinsurance ceded
 
(311
)
 
(235
)
 
(378
)
Net other expenses
 
$
13,714

 
$
13,621

 
$
13,749