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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2019
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,
 
 
2019
 
2018
 
2017 (1)
 
2017 (2)
 
 
(In millions)
Premiums
 
 
 
 
 
 
 
 
Reinsurance assumed
 
$
387

 
$
401

 
$
183

 
$
248

Reinsurance ceded
 
(8
)
 
(13
)
 
(4
)
 
(7
)
Net premiums
 
$
379

 
$
388

 
$
179

 
$
241

Universal life and investment-type product policy fees
 
 
 
 
 
 
 
 
Reinsurance assumed
 
$
(16
)
 
$
7

 
$
(4
)
 
$
(6
)
Reinsurance ceded
 
(52
)
 
(96
)
 
(44
)
 
(55
)
Net universal life and investment-type product policy fees
 
$
(68
)
 
$
(89
)
 
$
(48
)
 
$
(61
)
Policyholder benefits and claims
 
 
 
 
 
 
 
 
Reinsurance assumed
 
$
323

 
$
328

 
$
150

 
$
196

Reinsurance ceded
 
(46
)
 
(36
)
 
(22
)
 
(16
)
Net policyholder benefits and claims
 
$
277

 
$
292

 
$
128

 
$
180

Interest credited to policyholder account balances
 
 
 
 
 
 
 
 
Reinsurance assumed
 
$
13

 
$
14

 
$
6

 
$
10

Reinsurance ceded
 
(75
)
 
(71
)
 
(30
)
 
(42
)
Net interest credited to policyholder account balances
 
$
(62
)
 
$
(57
)
 
$
(24
)
 
$
(32
)
Other expenses
 
 
 
 
 
 
 
 
Reinsurance assumed
 
$
96

 
$
105

 
$
39

 
$
10

Reinsurance ceded
 
(17
)
 
(29
)
 
7

 
(28
)
Net other expenses
 
$
79

 
$
76

 
$
46

 
$
(18
)
__________________
(1)
Includes transactions after the Separation.
(2)
Includes transactions prior to the Separation.
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,
 
 
2019
 
2018
 
 
Direct
 
Assumed
 
Ceded
 
Total
Balance
Sheet
 
Direct
 
Assumed
 
Ceded
 
Total
Balance
Sheet
 
 
(In millions)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Premiums, reinsurance and other receivables
 
$
6,814

 
$
2,190

 
$
11,439

 
$
20,443

 
$
5,988

 
$
1,603

 
$
12,053

 
$
19,644

Deferred policy acquisition costs and value of business acquired
 
17,822

 
301

 
(290
)
 
17,833

 
18,812

 
385

 
(302
)
 
18,895

Total assets
 
$
24,636

 
$
2,491

 
$
11,149

 
$
38,276

 
$
24,800

 
$
1,988

 
$
11,751

 
$
38,539

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future policy benefits
 
$
191,403

 
$
3,506

 
$
—

 
$
194,909

 
$
183,367

 
$
3,413

 
$
—

 
$
186,780

Policyholder account balances
 
192,328

 
299

 
—

 
192,627

 
183,207

 
488

 
(2
)
 
183,693

Other policy-related balances
 
15,806

 
1,351

 
14

 
17,171

 
15,519

 
986

 
24

 
16,529

Other liabilities
 
16,165

 
2,402

 
5,612

 
24,179

 
14,848

 
2,131

 
5,985

 
22,964

Total liabilities
 
$
415,702

 
$
7,558

 
$
5,626

 
$
428,886

 
$
396,941

 
$
7,018

 
$
6,007

 
$
409,966


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,
 
 
2019
 
2018
 
2017
 
 
(In millions)
Premiums
 
 
 
 
 
 
Direct premiums
 
$
42,513

 
$
44,199

 
$
39,595

Reinsurance assumed
 
2,020

 
2,021

 
1,773

Reinsurance ceded
 
(2,298
)
 
(2,380
)
 
(2,376
)
Net premiums
 
$
42,235

 
$
43,840

 
$
38,992

Universal life and investment-type product policy fees
 
 
 
 
 
 
Direct universal life and investment-type product policy fees
 
$
6,109

 
$
6,008

 
$
5,978

Reinsurance assumed
 
56

 
86

 
83

Reinsurance ceded
 
(562
)
 
(592
)
 
(551
)
Net universal life and investment-type product policy fees
 
$
5,603

 
$
5,502

 
$
5,510

Policyholder benefits and claims
 
 
 
 
 
 
Direct policyholder benefits and claims
 
$
42,094

 
$
43,456

 
$
39,354

Reinsurance assumed
 
1,584

 
1,583

 
1,388

Reinsurance ceded
 
(2,217
)
 
(2,383
)
 
(2,429
)
Net policyholder benefits and claims
 
$
41,461

 
$
42,656

 
$
38,313

Other expenses
 
 
 
 
 
 
Direct other expenses
 
$
13,559

 
$
13,704

 
$
13,610

Reinsurance assumed
 
382

 
321

 
246

Reinsurance ceded
 
(252
)
 
(311
)
 
(235
)
Net other expenses
 
$
13,689

 
$
13,714

 
$
13,621