Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2016

Reinsurance amounts included in the Company’s Unaudited Interim Consolidated Statements of Financial Position as of March 31, 2016 and December 31, 2015 were as follows:



	March 31, 2016			December 31, 2015
	(in thousands)
Reinsurance recoverable	$	24,780,544		$	22,546,361
Policy loans	(77,784		)	(75,697		)
Deferred policy acquisition costs	(2,098,908		)	(2,122,349		)
Other assets	35,117			35,616
Policyholders’ account balances	4,905,603			5,020,230
Future policy benefits and other policyholder liabilities	2,715,376			2,380,215
Other liabilities (reinsurance payables)	446,846			494,660

Reinsurance Table By Affiliate

The reinsurance recoverables by counterparty is broken out below.



	March 31, 2016		December 31, 2015
	(in thousands)
UPARC	$	427,999	$	376,660
PAR U	10,002,215		9,797,733
PURC	2,351,566		2,251,692
PARCC	2,568,479		2,560,798
PAR Term	1,261,597		1,226,761
Term Re	376,564		298,002
Prudential Insurance	200,442		226,926
Pruco Re	6,312,862		4,594,412
Prudential of Taiwan	1,206,591		1,169,664
Unaffiliated	72,229		43,713
Total reinsurance recoverables	$	24,780,544	$	22,546,361

Reinsurance Impact On Income Statement

Reinsurance amounts, excluding investment gains (losses) on affiliated asset transfers, included in the Company’s Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2016 and 2015 were as follows:



		Three Months Ended March 31,
		2016			2015
	(in thousands)
Premiums:
Direct		$	391,180		$	366,243
Assumed		148			0
Ceded		(373,413		)	(350,606		)
Net premiums		17,915			15,637
Policy charges and fee income:
Direct		734,977			732,565
Assumed		194,313			168,786
Ceded		(401,883		)	(360,586		)
Net policy charges and fee income		527,407			540,765
Net investment income:
Direct		106,137			104,049
Assumed		345			329
Ceded		(1,030		)	(958		)
Net investment income		105,452			103,420
Other income:
Direct		11,695			12,527
Assumed & Ceded		1,827			4,690
Net other income		13,522			17,217
Interest credited to policyholders’ account balances:
Direct		213,482			142,405
Assumed		33,835			32,714
Ceded		(60,886		)	(57,642		)
Net interest credited to policyholders’ account balances		186,431			117,477
Policyholders’ benefits (including change in reserves):
Direct		609,636			480,655
Assumed		260,876			235,461
Ceded		(771,984		)	(657,715		)
Net policyholders’ benefits (including change in reserves)		98,528			58,401
Realized investment gains (losses), net:
Direct		(1,534,352		)	(666,435		)
Assumed		(39		)	0
Ceded		1,589,542			725,460
Realized investment gains (losses), net		55,151			59,025
Net reinsurance expense allowances, net of capitalization and amortization		$	(93,929	)	$	(69,712	)

Gross and Net Life Insurance in Force

The gross and net amounts of life insurance face amount in force as of March 31, 2016 and 2015 were as follows:



	March 31, 2016			March 31, 2015
	(in thousands)
Direct gross life insurance face amount in force	$	783,961,855		$	724,268,816
Assumed gross life insurance face amount in force	43,367,167			44,296,568
Reinsurance ceded	(765,067,750		)	(708,312,995		)
Net life insurance face amount in force	$	62,261,272		$	60,252,389

Affiliated Asset Transfer

The table below shows affiliated asset trades as of March 31, 2016 and December 31, 2015.



Affiliate	Date	Transaction	Security Type	Fair Value		Book Value		APIC, Net of Tax Increase/(Decrease)			Realized Investment Gain/(Loss), Net		Derivative Gain/(Loss)
				(in millions)
Prudential Insurance	March-15	Purchase	Fixed Maturities & Trading Account Assets	$	92	$	74	$	(12	)	$	0	$	0
Prudential Insurance	June-15	Purchase	Fixed Maturities	$	11	$	10	$	(1	)	$	0	$	0
Prudential Insurance	March-16	Sale	Fixed Maturities & Short-Term Investments	$	89	$	89	$	(1	)	$	0	$	0

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 - March 31, 2016		Amount of Notes - December 31, 2015		Interest Rate					Date of Maturity
		(in thousands)
Prudential Financial	12/15/2011	$	11,000	$	11,000				3.61	%			12/15/2016
Prudential Financial	12/16/2011	11,000		11,000					3.61	%			12/16/2016
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		66,000					3.52	%			6/15/2022
Prudential Financial	6/15/2015	6,000		6,000					2.86	%			6/15/2020
Prudential Financial	9/21/2015	158,000		158,000		1.09	%	-	1.63	%	6/15/2016	-	6/15/2017
Prudential Financial	9/21/2015	132,000		132,000		1.40	%	-	1.93	%	12/17/2016	-	12/17/2017
Prudential Financial	9/21/2015	26,000		26,000		1.40	%	-	1.93	%	12/17/2016	-	12/17/2017
Prudential Financial	12/16/2015	5,000		5,000					2.85	%			12/16/2020
Prudential Financial	12/16/2015	1,000		1,000					2.85	%			12/16/2020
Prudential Financial	12/16/2015	18,000		18,000					3.37	%			12/16/2022
Prudential Funding	3/31/2016	500		0					0.48	%			4/1/2016
Total Loans Payable to Affiliates		$	1,384,500	$	1,384,000