Reinsurance (Tables)

12 Months Ended

Dec. 31, 2021

Effects of Reinsurance [Line Items]

Effects of reinsurance

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	$	1,398	$	1,466	$	1,597
Reinsurance assumed	(10)		12		15
Reinsurance ceded	(701)		(742)		(765)
Net premiums	$	687	$	736	$	847
Universal life and investment-type product policy fees
Direct universal life and investment-type product policy fees	$	3,533	$	3,376	$	3,432
Reinsurance assumed	50		55		79
Reinsurance ceded	(597)		(592)		(529)
Net universal life and investment-type product policy fees	$	2,986	$	2,839	$	2,982
Other revenues
Direct other revenues	$	262	$	239	$	244
Reinsurance assumed	6		18		3
Reinsurance ceded	66		45		19
Net other revenues	$	334	$	302	$	266
Policyholder benefits and claims
Direct policyholder benefits and claims	$	4,677	$	7,445	$	5,267
Reinsurance assumed	125		158		70
Reinsurance ceded	(1,589)		(1,914)		(1,799)
Net policyholder benefits and claims	$	3,213	$	5,689	$	3,538
Other expenses
Direct other expenses	$	1,815	$	1,851	$	1,839
Reinsurance assumed	(5)		2		(10)
Reinsurance ceded	(10)		(9)		(20)
Net other expenses	$	1,800	$	1,844	$	1,809

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 (net of allowance for credit losses)	$	434	$	17	$	15,198	$	15,649	$	519	$	30	$	15,172	$	15,721
Liabilities
Future policy benefits	$	43,346	$	243	$	—	$	43,589	$	44,027	$	239	$	—	$	44,266
Policyholder account balances	$	62,080	$	4,115	$	—	$	66,195	$	50,292	$	3,654	$	—	$	53,946
Other policy-related balances	$	1,500	$	1,653	$	—	$	3,153	$	1,416	$	1,698	$	—	$	3,114
Other liabilities	$	2,618	$	58	$	1,174	$	3,850	$	3,066	$	40	$	1,104	$	4,210

Affiliated Entity

Effects of Reinsurance [Line Items]

Effects of reinsurance

Information regarding the significant effects of assumed reinsurance with NELICO included on the consolidated statements of operations was as follows:

	Years Ended December 31,
	2021		2020		2019
	(In millions)
Premiums	$	2	$	2	$	5
Universal life and investment-type product policy fees	$	6	$	7	$	6
Other revenues	$	2	$	2	$	3
Policyholder benefits and claims	$	25	$	55	$	34
Other expenses	$	(28)	$	(21)	$	(32)

Information regarding the significant effects of assumed reinsurance with NELICO included on the consolidated balance sheets was as follows at:

	December 31,
	2021		2020
	(In millions)
Assets
Premiums, reinsurance and other receivables (net of allowance for credit losses)	$	26	$	24
Liabilities
Future policy benefits	$	119	$	120
Policyholder account balances	$	427	$	596
Other policy-related balances	$	9	$	10
Other liabilities	$	26	$	9