Reinsurance (Tables)

12 Months Ended

Dec. 31, 2021

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,
	2021		2020		2019
	(In millions)
Premiums
Direct premiums	$	41,259	$	42,201	$	42,513
Reinsurance assumed	2,907		2,032		2,020
Reinsurance ceded	(2,157)		(2,199)		(2,298)
Net premiums	$	42,009	$	42,034	$	42,235
Universal life and investment-type product policy fees
Direct universal life and investment-type product policy fees	$	6,271	$	6,122	$	6,109
Reinsurance assumed	45		50		56
Reinsurance ceded	(560)		(569)		(562)
Net universal life and investment-type product policy fees	$	5,756	$	5,603	$	5,603
Policyholder benefits and claims
Direct policyholder benefits and claims	$	44,035	$	42,221	$	42,094
Reinsurance assumed	2,570		1,745		1,584
Reinsurance ceded	(2,651)		(2,505)		(2,217)
Net policyholder benefits and claims	$	43,954	$	41,461	$	41,461
Other expenses
Direct other expenses	$	12,450	$	13,013	$	13,559
Reinsurance assumed	375		371		382
Reinsurance ceded	(239)		(234)		(252)
Net other expenses	$	12,586	$	13,150	$	13,689

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,
	2021								2020
	Direct		Assumed		Ceded		Total Balance Sheet		Direct		Assumed		Ceded		Total Balance Sheet
	(In millions)
Assets
Premiums, reinsurance and other receivables	$	4,929	$	1,789	$	10,431	$	17,149	$	5,032	$	2,107	$	10,731	$	17,870
Deferred policy acquisition costs and value of business acquired	16,151		227		(317)		16,061		16,482		230		(323)		16,389
Total assets	$	21,080	$	2,016	$	10,114	$	33,210	$	21,514	$	2,337	$	10,408	$	34,259
Liabilities
Future policy benefits	$	195,915	$	3,806	$	—	$	199,721	$	203,000	$	3,656	$	—	$	206,656
Policyholder account balances	203,391		82		—		203,473		204,906		270		—		205,176
Other policy-related balances	16,380		1,368		3		17,751		15,769		1,332		—		17,101
Other liabilities	15,519		2,139		4,880		22,538		16,283		2,417		4,914		23,614
Total liabilities	$	431,205	$	7,395	$	4,883	$	443,483	$	439,958	$	7,675	$	4,914	$	452,547