REINSURANCE (Tables)

6 Months Ended

Jun. 30, 2024

The following table reconciles direct earned premiums, direct benefits and claims, excluding reserve remeasurement gains and losses, and reserve remeasurement gains and losses to net amounts after the effect of reinsurance.


	Three Months Ended June 30,						Six Months Ended June 30,
(In millions)	2024			2023			2024			2023
Direct earned premiums		$	3,352		$	3,623		$	6,834		$	7,361
Ceded to other companies:
Ceded Aflac Japan closed blocks		(31)			(80)			(65)			(165)
Other		(35)			(23)			(70)			(45)
Assumed from other companies:
Retrocession activities		27			30			56			64
Other		12			23			26			47
Net earned premiums		$	3,325		$	3,573		$	6,781		$	7,262

Direct benefits and claims, excluding reserve remeasurement		$	1,995		$	2,182		$	4,077		$	4,438
Ceded benefits and change in reserves for future benefits:
Ceded Aflac Japan closed blocks		(17)			(74)			(35)			(151)
Other		(19)			6			(33)			(21)
Assumed from other companies:
Retrocession activities		12			20			25			61
Other		1			18			5			27
Benefits and claims, excluding reserve remeasurement		$	1,972		$	2,152		$	4,039		$	4,354

Direct reserve remeasurement (gains) losses		$	(51)		$	(54)		$	(108)		$	(107)
Ceded reserve remeasurement gains (losses)		0			0			1			0
Assumed reserve remeasurement (gains) losses		0			0			0			0
Reserve remeasurement (gains) losses		$	(51)		$	(54)		$	(107)		$	(107)
Total benefits and claims, net		$	1,921		$	2,098		$	3,932		$	4,247