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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2016
Reinsurance Disclosures [Abstract]  
Reinsurance Impact On Balance Sheet
Reinsurance amounts included in the Company’s Consolidated Statements of Financial Position as of December 31, were as follows:

 
 
2016
 
2015
 
 
(in thousands)
Reinsurance recoverables
 
$
28,674,226

 
$
22,691,491

Policy loans
 
(87,112
)
 
(75,697
)
Deferred policy acquisition costs
 
(6,482,889
)
 
(2,158,121
)
Deferred sales inducements
 
(615,117
)
 
0

Other assets(1)
 
226,347

 
35,616

Policyholders’ account balances
 
4,978,859

 
5,020,230

Future policy benefits
 
2,833,327

 
2,380,215

Other liabilities(2)
 
410,376

 
516,525



(1)
"Other assets" includes $0.1 million and $0.0 million of unaffiliated activity as of December 31, 2016 and 2015, respectively.
(2)
"Other liabilities" includes $28 million and $22 million of unaffiliated activity as of December 31, 2016 and 2015, respectively.
Reinsurance Table By Affiliate
The reinsurance recoverables by counterparty are broken out below:

 
 
December 31, 2016
 
December 31, 2015
 
 
(in thousands)
PAR U
 
$
10,514,125

 
$
9,867,902

PALAC
 
7,706,860

 
0

PURC
 
3,153,449

 
2,324,163

PARCC
 
2,589,397

 
2,563,300

PAR Term
 
1,403,738

 
1,226,749

Prudential of Taiwan
 
1,246,241

 
1,169,664

Prudential Insurance
 
976,652

 
226,926

Term Re
 
593,084

 
298,002

UPARC
 
467,904

 
376,660

Pruco Re
 
0

 
4,594,412

Unaffiliated
 
22,776

 
43,713

Total reinsurance recoverables
 
$
28,674,226

 
$
22,691,491
Reinsurance Impact On Income Statement
Reinsurance amounts, included in the Company’s Consolidated Statements of Operations and Comprehensive Income for the years ended December 31, were as follows:

 
 
2016
 
2015
 
2014
 
 
(in thousands)
Premiums:
 
 
 
 
 
 
Direct
 
$
1,621,531

 
$
1,519,992

 
$
1,408,833

Assumed(1)
 
359

 
0

 
0

Ceded
 
(2,447,832
)
 
(1,442,358
)
 
(1,342,627
)
Net premiums
 
(825,942
)
 
77,634

 
66,206

Policy charges and fee income:
 
 
 
 
 
 
Direct
 
2,804,446

 
2,933,271

 
2,754,115

Assumed
 
533,648

 
434,560

 
477,921

Ceded(2)
 
(2,550,899
)
 
(1,211,444
)
 
(1,160,997
)
Net policy charges and fee income
 
787,195

 
2,156,387

 
2,071,039

Net investment income:
 
 
 
 
 
 
Direct
 
378,969

 
419,357

 
406,620

Assumed
 
1,411

 
1,394

 
1,362

Ceded
 
(4,430
)
 
(4,164
)
 
(3,964
)
Net investment income
 
375,950

 
416,587

 
404,018

Asset administration fees:
 
 
 
 
 
 
Direct
 
310,178

 
362,321

 
377,127

Assumed
 
0

 
0

 
0

Ceded
 
(225,735
)
 
0

 
0

Net asset administration fees
 
84,443

 
362,321

 
377,127

Other income:
 
 
 
 
 
 
Direct
 
50,475

 
44,223

 
49,891

Assumed(3)
 
(161
)
 
0

 
0

Ceded
 
21

 
0

 
0

Amortization of reinsurance income
 
(19,228
)
 
11,292

 
7,936

Net other income
 
31,107

 
55,515

 
57,827

Realized investment gains (losses), net:
 
 
 
 
 
 
Direct
 
1,263,088

 
571,702

 
(4,375,107
)
Assumed
 
0

 
0

 
0

Ceded(4)
 
(504,639
)
 
(780,240
)
 
4,489,174

Realized investment gains (losses), net
 
758,449

 
(208,538
)
 
114,067

Policyholders’ benefits (including change in reserves):
 
 
 
 
 
 
Direct
 
2,456,262

 
2,064,906

 
1,863,078

Assumed
 
596,196

 
541,371

 
792,616

Ceded(5)
 
(3,312,658
)
 
(2,307,127
)
 
(2,301,997
)
Net policyholders’ benefits (including change in reserves)
 
(260,200
)
 
299,150

 
353,697

Interest credited to policyholders’ account balances:
 
 
 
 
 
 
Direct
 
413,328

 
477,667

 
459,982

Assumed
 
131,953

 
124,954

 
117,725

Ceded
 
(244,061
)
 
(228,410
)
 
(209,392
)
Net interest credited to policyholders’ account balances
 
301,220

 
374,211

 
368,315

Net reinsurance expense allowances, net of capitalization and amortization(6)
 
(840,010
)
 
(354,372
)
 
(390,531
)


(1)
"Premiums assumed" includes $0.4 million, $0.0 million and $0.0 million of unaffiliated activity for the years ended December 31, 2016, 2015 and 2014, respectively.
(2)
"Policy charges ceded" includes $(4) million of unaffiliated activity for each of the years ended December 31, 2016, 2015 and 2014.
(3)
"Other income assumed" includes $(0.2) million, $0.0 million and $0.0 million of unaffiliated activity for the years ended December 31, 2016, 2015 and 2014, respectively.
(4)
"Realized investment gains (losses), net ceded" includes $(30) million, $2 million and $0.0 million of unaffiliated activity for the years ended December 31, 2016, 2015 and 2014, respectively.
(5)
"Policyholders' benefits (including change in reserves) ceded" includes $5 million, $(14) million and $3 million of unaffiliated activity for the years ended December 31, 2016, 2015 and 2014, respectively.
(6)
Prior period amounts have been corrected to exclude non-reinsurance expenses.
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:
 
 
2016
 
2015
 
2014
 
 
(in thousands)
Direct gross life insurance face amount in force
 
$
827,832,976

 
$
770,427,543

 
$
709,800,479

Assumed gross life insurance face amount in force
 
42,566,514

 
43,552,313

 
44,519,176

Reinsurance ceded
 
(805,796,078
)
 
(752,647,594
)
 
(694,659,804
)
Net life insurance face amount in force
 
$
64,603,412

 
$
61,332,262

 
$
59,659,851