REINSURANCE (Tables)

9 Months Ended

Sep. 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 September 30,						Nine Months Ended September 30,
(In millions)	2024			2023			2024			2023
Direct earned premiums		$	3,360		$	3,524		$	10,194		$	10,885
Ceded to other companies:
Ceded Aflac Japan closed blocks		(32)			(75)			(97)			(240)
Other		(39)			(24)			(109)			(69)
Assumed from other companies:
Retrocession activities		28			33			84			96
Other		11			18			37			65
Net earned premiums		$	3,328		$	3,476		$	10,109		$	10,737

Direct benefits and claims, excluding reserve remeasurement		$	2,024		$	2,106		$	6,101		$	6,545
Ceded benefits and change in reserves for future benefits:
Ceded Aflac Japan closed blocks		(16)			(71)			(51)			(222)
Other		(20)			(7)			(53)			(29)
Assumed from other companies:
Retrocession activities		17			29			42			90
Other		(2)			8			3			36
Benefits and claims, excluding reserve remeasurement		$	2,003		$	2,065		$	6,042		$	6,420

Direct reserve remeasurement (gains) losses		$	(407)		$	(219)		$	(515)		$	(327)
Ceded reserve remeasurement gains (losses)		(1)			14			0			15

Reserve remeasurement (gains) losses		$	(408)		$	(205)		$	(515)		$	(312)
Total benefits and claims, net		$	1,595		$	1,860		$	5,527		$	6,108