Reinsurance (Tables)

12 Months Ended

Dec. 31, 2020

Reinsurance Disclosures [Abstract]

Ceded Credit Risk [Table Text Block]

The following table presents information for the Company’s ceded reinsurance receivable assets, including the respective amount and A.M. Best rating for each reinsurer representing in excess of five percent of the total as of December 31, 2020 and 2019 (dollars in millions):

		2020				2019
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Reinsurer A	A+	$	420	42.7	%	$	367	40.6	%
Reinsurer B	A+	216		22.0		208		23.0
Reinsurer C	A	64		6.5		84		9.3
Reinsurer D	A++	55		5.6		53		5.9
Reinsurer E	A+	46		4.7		43		4.8
Other reinsurers		182		18.5		149		16.4
Total		$	983	100.0	%	$	904	100.0	%

Reinsurance Premium And Effect On Claims And Other Policy Benefits [Table Text Block]

The effect of reinsurance on net premiums is as follows (dollars in millions):

Years ended December 31,	2020		2019		2018
Direct insurance	$	58	$	76	$	63
Reinsurance assumed	12,583		12,150		11,341
Reinsurance ceded	(947)		(929)		(860)
Net premiums	$	11,694	$	11,297	$	10,544

The effect of reinsurance on claims and other policy benefits as follows (dollars in millions):

Years ended December 31,	2020		2019		2018
Direct insurance	$	97	$	113	$	107
Reinsurance assumed	11,931		11,404		9,997
Reinsurance ceded	(953)		(1,320)		(785)
Net claims and other policy benefits	$	11,075	$	10,197	$	9,319

Reinsurance Information [Table Text Block]

The effect of reinsurance on life insurance in force is shown in the following schedule (dollars in millions):

	Direct		Assumed		Ceded		Net		Assumed/Net %
December 31, 2020	$	1,990	$	3,480,692	$	184,625	$	3,298,057	105.5	%
December 31, 2019	1,316		3,480,206		192,864		3,288,658		105.8
December 31, 2018	1,363		3,329,181		186,172		3,144,372		105.9