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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2016
Reinsurance Disclosure [Line Items]  
Effects of reinsurance
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,
 
2016

2015
 
Direct

Assumed

Ceded

Total
Balance
Sheet

Direct

Assumed

Ceded

Total
Balance
Sheet
 
(In millions)
Assets















Premiums, reinsurance and other receivables
$
1,143


$
23


$
18,935


$
20,101


$
630


$
162


$
21,459


$
22,251

Deferred policy acquisition costs and value of
business acquired
6,020


71


(817
)

5,274


5,467


219


(877
)

4,809

Total assets
$
7,163

 
$
94

 
$
18,118

 
$
25,375

 
$
6,097

 
$
381

 
$
20,582

 
$
27,060

Liabilities















Future policy benefits
$
31,567

 
$
234

 
$
(117
)
 
$
31,684

 
$
28,670

 
$
1,294

 
$
(70
)
 
$
29,894

Policyholder account balances
34,635


952


—


35,587


34,764


897


—


35,661

Other policy-related balances
1,027

 
1,677

 
680

 
3,384

 
990

 
1,804

 
755

 
3,549

Other liabilities
4,466


12


5,669


10,147


2,566


86


5,030


7,682

Total liabilities
$
71,695

 
$
2,875

 
$
6,232

 
$
80,802

 
$
66,990

 
$
4,081

 
$
5,715

 
$
76,786

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,
 
2016

2015

2014
 
(In millions)
Premiums





Direct premiums
$
2,117


$
2,281


$
2,226

Reinsurance assumed
79


297


94

Reinsurance ceded
(1,275
)

(1,145
)

(1,168
)
Net premiums
$
921


$
1,433


$
1,152

Universal life and investment-type product policy fees





Direct universal life and investment-type product policy fees
$
3,476


$
3,607


$
3,610

Reinsurance assumed
129


142


398

Reinsurance ceded
(909
)

(809
)

(815
)
Net universal life and investment-type product policy fees
$
2,696

 
$
2,940

 
$
3,193

Other revenues





Direct other revenues
$
259


$
258


$
259

Reinsurance assumed
87


—


28

Reinsurance ceded
415


246


252

Net other revenues
$
761

 
$
504

 
$
539

Policyholder benefits and claims





Direct policyholder benefits and claims
$
5,909


$
4,807


$
4,797

Reinsurance assumed
128


305


263

Reinsurance ceded
(3,053
)

(2,416
)

(2,296
)
Net policyholder benefits and claims
$
2,984

 
$
2,696

 
$
2,764

Interest credited to policyholder account balances





Direct interest credited to policyholder account balances
$
1,027


$
1,104


$
1,125

Reinsurance assumed
75


78


76

Reinsurance ceded
(145
)

(145
)

(139
)
Net interest credited to policyholder account balances
$
957

 
$
1,037

 
$
1,062

Amortization of deferred policy acquisition costs and value of business acquired
 
 
 
 
 
Direct amortization of deferred policy acquisition costs and value of business acquired
$
(114
)
 
$
630

 
$
958

Reinsurance assumed
148

 
8

 
100

Reinsurance ceded
(206
)
 
(43
)
 
(68
)
Net amortization of deferred policy acquisition costs and value of business acquired
$
(172
)

$
595


$
990

Other expenses
 
 
 
 
 
Direct other expenses
$
1,482


$
1,512


$
1,566

Reinsurance assumed
35


47


6

Reinsurance ceded
221


163


192

Net other expenses
$
1,738

 
$
1,722

 
$
1,764
Affiliated Entity [Member]  
Reinsurance Disclosure [Line Items]  
Effects of reinsurance
Information regarding the significant effects of affiliated reinsurance included on the consolidated balance sheets was as follows at:
 
December 31,
 
2016
 
2015
 
Assumed
 
Ceded
 
Assumed
 
Ceded
 
(In millions)
Assets
 
 
 
 
 
 
 
Premiums, reinsurance and other receivables
$
23

 
$
9,661

 
$
129

 
$
12,746

Deferred policy acquisition costs and value of business acquired
71

 
(803
)
 
120

 
(861
)
Total assets
$
94

 
$
8,858

 
$
249

 
$
11,885

Liabilities
 
 
 
 
 
 
 
Future policy benefits
$
213

 
$
(117
)
 
$
630

 
$
(70
)
Policyholder account balances
952

 
—

 
897

 
—

Other policy-related balances
1,677

 
680

 
1,785

 
755

Other liabilities
10

 
5,344

 
27

 
4,691

Total liabilities
$
2,852

 
$
5,907

 
$
3,339

 
$
5,376

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

Years Ended December 31,

2016

2015

2014

(In millions)
Premiums





Reinsurance assumed
$
34

 
$
227

 
$
55

Reinsurance ceded
(928
)
 
(783
)
 
(830
)
Net premiums
$
(894
)
 
$
(556
)
 
$
(775
)
Universal life and investment-type product policy fees
 
 
 
 
 
Reinsurance assumed
$
129

 
$
142

 
$
291

Reinsurance ceded
(359
)
 
(299
)
 
(361
)
Net universal life and investment-type product policy fees
$
(230
)
 
$
(157
)
 
$
(70
)
Other revenues

 

 

Reinsurance assumed
$
56

 
$
—

 
$
28

Reinsurance ceded
414

 
246

 
252

Net other revenues
$
470

 
$
246

 
$
280

Policyholder benefits and claims

 

 

Reinsurance assumed
$
91

 
$
255

 
$
229

Reinsurance ceded
(1,304
)
 
(925
)
 
(942
)
Net policyholder benefits and claims
$
(1,213
)
 
$
(670
)
 
$
(713
)
Interest credited to policyholder account balances
 
 
 
 
 
Reinsurance assumed
$
75

 
$
78

 
$
76

Reinsurance ceded
(145
)
 
(145
)
 
(139
)
Net interest credited to policyholder account balances
$
(70
)
 
$
(67
)
 
$
(63
)
Amortization of deferred policy acquisition costs and value of business acquired
 
 
 
 
 
Reinsurance assumed
$
49

 
$
24

 
$
90

Reinsurance ceded
(189
)
 
(40
)
 
(63
)
  Net amortization of deferred policy acquisition costs and value of business
$
(140
)
 
$
(16
)
 
$
27

Other expenses
 
 
 
 
 
Reinsurance assumed
$
19

 
$
41

 
$
2

Reinsurance ceded
242

 
186

 
219

Net other expenses
$
261

 
$
227

 
$
221