Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2015

Reinsurance amounts included in the Company’s Consolidated Statements of Financial Position as of December 31, were as follows:



	December 31, 2015			December 31, 2014
	(in thousands)
Reinsurance recoverables	$	22,546,361		$	20,594,371
Policy loans	(75,697		)	(69,501		)
Deferred policy acquisition costs	(2,122,349		)	(1,709,625		)
Other assets	35,616			39,458
Policyholders’ account balances	5,020,230			4,827,071
Future policy benefits and other policyholder liabilities	2,380,215			2,193,735
Other liabilities	494,660			433,627

Reinsurance Table By Affiliate

The reinsurance recoverables by counterparty are broken out below.



	December 31, 2015		December 31, 2014
	(in thousands)
UPARC	$	376,660	$	407,209
PAR U	9,797,733		9,147,870
PARCC	2,560,798		2,499,567
PAR Term	1,226,761		1,001,181
Prudential Insurance	226,926		188,466
Pruco Re	4,594,412		4,522,665
Prudential of Taiwan	1,169,664		1,157,881
PURC	2,251,692		1,564,913
Term Re	298,002		97,099
Unaffiliated	43,713		7,520
Total Reinsurance Recoverables	$	22,546,361	$	20,594,371

Reinsurance Impact On Income Statement

Reinsurance amounts, excluding investment gains (losses) on affiliated asset transfers, included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows:



	2015			2014			2013
	(in thousands)
Premiums:
Direct	$	1,519,992		$	1,408,833		$	1,319,390
Assumed	—			—			—
Ceded	(1,442,358		)	(1,342,627		)	(1,262,539		)
Net premiums	77,634			66,206			56,851
Policy charges and fee income:
Direct	2,940,786			2,763,536			2,356,617
Assumed	434,560			477,921			294,689
Ceded	(1,215,918		)	(1,166,605		)	(770,381		)
Net policy charges and fee income:	2,159,428			2,074,852			1,880,925
Net investment income
Direct	419,357			406,620			421,107
Assumed	1,394			1,362			1,288
Ceded	(4,164		)	(3,964		)	(3,384		)
Net investment income	416,587			404,018			419,011
Other income:
Direct	44,223			49,891			51,268
Assumed & Ceded	11,292			7,936			(31,119		)
Net other income	55,515			57,827			20,149
Interest credited to policyholders’ account balances:
Direct	477,667			459,982			118,714
Assumed	124,954			117,725			146,011
Ceded	(228,410		)	(209,392		)	(218,988		)
Net interest credited to policyholders’ account balances	374,211			368,315			45,737
Policyholders’ benefits (including change in reserves):
Direct	2,034,123			1,824,994			1,504,351
Assumed	541,371			792,616			76,425
Ceded	(2,284,309		)	(2,273,896		)	(1,401,852		)
Net policyholders’ benefits (including change in reserves)	291,185			343,714			178,924
Realized investment gains (losses), net:
Direct	571,702			(4,375,107		)	2,045,435
Assumed	—			—			—
Ceded	(780,240		)	4,489,174			(2,058,885		)
Realized investment gains (losses), net	(208,538		)	114,067			(13,450		)
Net reinsurance expense allowances, net of capitalization and amortization	(208,494		)	(266,048		)	(143,100		)

Gross And Net Life Insurance In Force

The gross and net amounts of life insurance face amount in force as of December 31, were as follows:



	2015			2014			2013
	(in thousands)
Direct gross life insurance face amount in force	$	770,427,543		$	709,800,479		$	661,834,408
Assumed gross life insurance face amount in force	43,552,313			44,519,176			44,691,950
Reinsurance ceded	(752,647,594		)	(694,659,804		)	(650,340,432		)
Net life insurance face amount in force	$	61,332,262		$	59,659,851		$	56,185,926

Affiliated Asset Transfer

The table below shows affiliated asset trades for the years ended December 31, 2014 and 2015.



Affiliate	Date	Transaction	Security Type	Fair Value	Book Value	Additional Paid-in Capital, Net of Tax Increase/ (Decrease)		Realized Investment Gain/ (Loss)		Derivative Gain/ (Loss)
				(in millions)
Prudential Insurance	Mar-14	Purchase	Fixed Maturities	13	13	—		—		—
Prudential Financial	Sep-14	Transfer In	Fixed Maturities & Private Equity	81	77	3		—		—
Prudential Financial	Sep-14	Transfer Out	Fixed Maturities	142	136	(4	)	—		—
PURC	Sep-14	Transfer Out	Fixed Maturities, Commercial Mortgages, & Private Equity	178	172	—		6		(8	)
PALAC	Oct-14	Purchase	Fixed Maturities	10	9	—		(1	)	—
Prudential Insurance	Dec-14	Purchase	Fixed Maturities, Commercial Mortgages, & Private Equity	122	102	(13	)	—		—
PURC	Dec-14	Purchase	JV/LP Investment	3	3	—		—		—
Prudential Insurance	Mar-15	Purchase	Fixed Maturities & Trading Account Assets	92	74	(12	)	—		—
Prudential Insurance	Jun-15	Purchase	Fixed Maturities	11	10	(1	)	—		—

Debt Agreements

The following table provides the breakout of the Company’s short-term and long-term debt with affiliates:



Affiliate	Date Issued	Amount of Notes - December 31, 2015		Amount of Notes - December 31, 2014		Interest Rate				Date of Maturity
		(in thousands)
Prudential Financial	6/20/2011	$	—	$	50,000			2.64	%			6/21/2015
Prudential Financial	12/15/2011	11,000		11,000				3.61	%			12/15/2016
Prudential Financial	12/16/2011	11,000		22,000		3.32%	-	3.61	%	12/16/2015	-	12/16/2016
Prudential Insurance	12/20/2010	—		204,000				3.47	%			12/21/2015
Washington Street Investment	6/20/2012	—		237,000		2.44%	-	3.02	%	6/15/2015	-	6/15/2017
Washington Street Investment	12/17/2012	—		198,000		1.33%	-	1.87	%	12/17/2015	-	12/17/2017
Washington Street Investment	12/17/2012	—		39,000		1.33%	-	1.87	%	12/17/2015	-	12/17/2017
Prudential Financial	11/15/2013	9,000		9,000				2.24	%			12/15/2018
Prudential Financial	11/15/2013	23,000		23,000				3.19	%			12/15/2020
Prudential Insurance	12/6/2013	120,000		120,000				2.60	%			12/15/2018
Prudential Insurance	12/6/2013	130,000		130,000				4.39	%			12/15/2023
Prudential Insurance	12/6/2013	250,000		250,000				3.64	%			12/15/2020
Prudential Insurance	9/25/2014	30,000		30,000				1.89	%			6/20/2017
Prudential Insurance	9/25/2014	40,000		40,000				3.95	%			6/20/2024
Prudential Insurance	9/25/2014	20,000		20,000				2.80	%			6/20/2019
Prudential Insurance	9/25/2014	50,000		50,000				3.95	%			6/20/2024
Prudential Insurance	9/25/2014	50,000		50,000				2.80	%			6/20/2019
Prudential Insurance	9/25/2014	100,000		100,000				3.47	%			6/20/2021
Prudential Insurance	9/25/2014	100,000		100,000				3.95	%			6/20/2024
Prudential Financial	12/15/2014	5,000		5,000				2.57	%			12/15/2019
Prudential Financial	12/15/2014	23,000		23,000				3.14	%			12/15/2021
Prudential Financial	6/15/2015	66,000		—				3.52	%			6/15/2022
Prudential Financial	6/15/2015	6,000		—				2.86	%			6/15/2020
Prudential Financial	9/21/2015	158,000		—		1.09%	-	1.63	%	6/15/2016	-	6/15/2017
Prudential Financial	9/21/2015	132,000		—		1.40%	-	1.93	%	12/17/2016	-	12/17/2017
Prudential Financial	9/21/2015	26,000		—		1.40%	-	1.93	%	12/17/2016	-	12/17/2017
Prudential Financial	12/16/2015	5,000		—				2.85	%			12/16/2020
Prudential Financial	12/16/2015	1,000		—				2.85	%			12/16/2020
Prudential Financial	12/16/2015	18,000		—				3.37	%			12/16/2022
Total Loans Payable to Affiliates		$	1,384,000	$	1,711,000