Reinsurance (Tables)

12 Months Ended

Dec. 31, 2022

Effects of Reinsurance [Line Items]

Effect 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,
	2022		2021		2020
	(In millions)
Premiums
Direct premiums	$	1,321	$	1,398	$	1,466
Reinsurance assumed	8		(10)		12
Reinsurance ceded	(688)		(701)		(742)
Net premiums	$	641	$	687	$	736
Universal life and investment-type product policy fees
Direct universal life and investment-type product policy fees	$	3,209	$	3,533	$	3,376
Reinsurance assumed	52		50		55
Reinsurance ceded	(699)		(597)		(592)
Net universal life and investment-type product policy fees	$	2,562	$	2,986	$	2,839
Other revenues
Direct other revenues	$	220	$	262	$	239
Reinsurance assumed	3		6		18
Reinsurance ceded	180		66		45
Net other revenues	$	403	$	334	$	302
Policyholder benefits and claims
Direct policyholder benefits and claims	$	6,025	$	4,677	$	7,445
Reinsurance assumed	152		125		158
Reinsurance ceded	(2,034)		(1,589)		(1,914)
Net policyholder benefits and claims	$	4,143	$	3,213	$	5,689
Other expenses
Direct other expenses	$	1,756	$	1,815	$	1,851
Reinsurance assumed	(17)		(5)		2
Reinsurance ceded	(64)		(10)		(9)
Net other expenses	$	1,675	$	1,800	$	1,844

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 (net of allowance for credit losses)	$	463	$	29	$	18,362	$	18,854	$	434	$	17	$	15,198	$	15,649
Liabilities
Future policy benefits	$	40,863	$	242	$	—	$	41,105	$	43,346	$	243	$	—	$	43,589
Policyholder account balances	$	69,633	$	4,479	$	—	$	74,112	$	62,080	$	4,115	$	—	$	66,195
Other policy-related balances	$	1,518	$	1,628	$	—	$	3,146	$	1,500	$	1,653	$	—	$	3,153
Other liabilities	$	5,061	$	40	$	1,433	$	6,534	$	2,618	$	58	$	1,174	$	3,850

Affiliated Entity

Effects of Reinsurance [Line Items]

Effect 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,
	2022		2021		2020
	(In millions)
Premiums	$	2	$	2	$	2
Universal life and investment-type product policy fees	$	6	$	6	$	7
Other revenues	$	2	$	2	$	2
Policyholder benefits and claims	$	51	$	25	$	55
Other expenses	$	(23)	$	(28)	$	(21)

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

	December 31,
	2022		2021
	(In millions)
Assets
Premiums, reinsurance and other receivables (net of allowance for credit losses)	$	29	$	26
Liabilities
Future policy benefits	$	137	$	119
Policyholder account balances	$	285	$	427
Other policy-related balances	$	11	$	9
Other liabilities	$	30	$	26