Reinsurance (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2022		2021		2020
	(In millions)
Premiums
Direct premiums	$	48,503	$	41,259	$	42,201
Reinsurance assumed	3,037		2,907		2,032
Reinsurance ceded	(2,143)		(2,157)		(2,199)
Net premiums	$	49,397	$	42,009	$	42,034
Universal life and investment-type product policy fees
Direct universal life and investment-type product policy fees	$	6,004	$	6,271	$	6,122
Reinsurance assumed	76		45		50
Reinsurance ceded	(495)		(560)		(569)
Net universal life and investment-type product policy fees	$	5,585	$	5,756	$	5,603
Policyholder benefits and claims
Direct policyholder benefits and claims	$	50,436	$	44,035	$	42,221
Reinsurance assumed	2,612		2,570		1,745
Reinsurance ceded	(2,436)		(2,651)		(2,505)
Net policyholder benefits and claims	$	50,612	$	43,954	$	41,461
Other expenses
Direct other expenses	$	12,013	$	12,450	$	13,013
Reinsurance assumed	285		375		371
Reinsurance ceded	(264)		(239)		(234)
Net other expenses	$	12,034	$	12,586	$	13,150

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,
	2022								2021
	Direct		Assumed		Ceded		Total Balance Sheet		Direct		Assumed		Ceded		Total Balance Sheet
	(In millions)
Assets
Premiums, reinsurance and other receivables	$	5,481	$	1,505	$	10,475	$	17,461	$	4,929	$	1,789	$	10,431	$	17,149
Deferred policy acquisition costs and value of business acquired	22,889		370		(276)		22,983		16,151		227		(317)		16,061
Total assets	$	28,370	$	1,875	$	10,199	$	40,444	$	21,080	$	2,016	$	10,114	$	33,210
Liabilities
Future policy benefits	$	200,355	$	3,873	$	—	$	204,228	$	195,915	$	3,806	$	—	$	199,721
Policyholder account balances	203,013		69		—		203,082		203,391		82		—		203,473
Other policy-related balances	18,472		1,183		(4)		19,651		16,380		1,368		3		17,751
Other liabilities	18,700		2,007		5,273		25,980		15,519		2,139		4,880		22,538
Total liabilities	$	440,540	$	7,132	$	5,269	$	452,941	$	431,205	$	7,395	$	4,883	$	443,483