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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2020
Reinsurance Disclosures [Abstract]  
Summary of retention limits by period of policy issuance The following table summarizes those retention limits by period of policy issuance.
Period Retention limits
April 2015 through current
Single life: $2 million per life
Joint life: no longer offered
April 2011 through March 2015
Single life: $5 million per life, $3 million age 70 and over, and $10 million for contracts that meet specific criteria
Joint life: $8 million per life, and $10 million for contracts that meet specific criteria
July 2007 through March 2011 
$5 million per life, $3 million age 70 and over, and $10 million for contracts that meet specific criteria
September 1998 through June 2007 
$2 million per life, in 2006 the limit was increased to $5 million for instances when specific criteria were met
August 1998 and prior 
Up to $1 million per life
Schedule of reinsurance premium ceded
The amounts ceded to Prudential for the years ended December 31 are as follows:
($ in millions)202020192018
Premiums and contract charges$64 $65 $72 
Contract benefits46 (4)87 
Interest credited to contractholder funds20 19 20 
Operating costs and expenses12 12 14 
Schedule of effects of reinsurance on premiums and contract charges
The effects of reinsurance on premiums and contract charges for the years ended December 31 are as follows: 
($ in millions)202020192018
Direct$652 $748 $743 
Assumed
Affiliate241 231 241 
Non-affiliate671 699 741 
Ceded
Affiliate(44)(49)(51)
Non-affiliate(227)(270)(275)
Premiums and contract charges, net of reinsurance$1,293 $1,359 $1,399 
Schedule of effects of reinsurance on contract benefits
The effects of reinsurance on contract benefits for the years ended December 31 are as follows:
($ in millions)202020192018
Direct$1,238 $1,038 $1,062 
Assumed
Affiliate157 137 149 
Non-affiliate510 493 484 
Ceded
Affiliate(37)(35)(35)
Non-affiliate(139)(152)(214)
Contract benefits, net of reinsurance$1,729 $1,481 $1,446 
Schedule of effects of reinsurance on interest credited to contractholder funds
The effects of reinsurance on interest credited to contractholder funds for the years ended December 31 are as follows:
($ in millions)202020192018
Direct$452 $463 $533 
Assumed
Affiliate9 8 8 
Non-affiliate162 154 104 
Ceded
Affiliate(18)(20)(20)
Non-affiliate(26)(20)(24)
Interest credited to contractholder funds, net of reinsurance$579 $585 $601 
Summary of reinsurance recoverables on paid and unpaid benefits
Reinsurance recoverables, net of allowance, as of December 31 are summarized in the following table.
($ in millions)20202019
Annuities$1,282 $1,293 
Life insurance660 1,145 
Other47 52 
Total$1,989 $2,490 
Schedule of rollforward of credit loss allowance for reinsurance recoverables
The following table shows the rollforward of the credit loss allowance for reinsurance recoverables for the year ended December 31.
($ in millions)2020
Beginning balance $(3)
Cumulative effect of change in accounting principle(11)
Increase in the provision for credit losses(1)
Write-offs— 
Ending Balance$(15)