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Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2022
Reinsurance Disclosures [Abstract] |
Effect of reinsurance | 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,
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
Premiums |  |  |  |  |  |
Direct premiums |  | $ | 48,503 |  |  | $ | 41,259 |  |  | $ | 42,201 |
Reinsurance assumed |  | 3,037 |  |  | 2,907 |  |  | 2,032 |
Reinsurance ceded |  | (2,143) |  |  | (2,157) |  |  | (2,199) |
Net premiums |  | $ | 49,397 |  |  | $ | 42,009 |  |  | $ | 42,034 |
Universal life and investment-type product policy fees |  |  |  |  |  |
Direct universal life and investment-type product policy fees |  | $ | 6,004 |  |  | $ | 6,271 |  |  | $ | 6,122 |
Reinsurance assumed |  | 76 |  |  | 45 |  |  | 50 |
Reinsurance ceded |  | (495) |  |  | (560) |  |  | (569) |
Net universal life and investment-type product policy fees |  | $ | 5,585 |  |  | $ | 5,756 |  |  | $ | 5,603 |
Policyholder benefits and claims |  |  |  |  |  |
Direct policyholder benefits and claims |  | $ | 50,436 |  |  | $ | 44,035 |  |  | $ | 42,221 |
Reinsurance assumed |  | 2,612 |  |  | 2,570 |  |  | 1,745 |
Reinsurance ceded |  | (2,436) |  |  | (2,651) |  |  | (2,505) |
Net policyholder benefits and claims |  | $ | 50,612 |  |  | $ | 43,954 |  |  | $ | 41,461 |
Other expenses |  |  |  |  |  |
Direct other expenses |  | $ | 12,013 |  |  | $ | 12,450 |  |  | $ | 13,013 |
Reinsurance assumed |  | 285 |  |  | 375 |  |  | 371 |
Reinsurance ceded |  | (264) |  |  | (239) |  |  | (234) |
Net other expenses |  | $ | 12,034 |  |  | $ | 12,586 |  |  | $ | 13,150 |
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,
|  | 2022 |  | 2021
|  | Direct |  | Assumed |  | Ceded |  | Total Balance Sheet |  | Direct |  | Assumed |  | Ceded |  | Total Balance Sheet
|  | (In millions)
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Premiums, reinsurance and other receivables |  | $ | 5,481 |  |  | $ | 1,505 |  |  | $ | 10,475 |  |  | $ | 17,461 |  |  | $ | 4,929 |  |  | $ | 1,789 |  |  | $ | 10,431 |  |  | $ | 17,149 |
Deferred policy acquisition costs and value of business acquired |  | 22,889 |  |  | 370 |  |  | (276) |  |  | 22,983 |  |  | 16,151 |  |  | 227 |  |  | (317) |  |  | 16,061 |
Total assets |  | $ | 28,370 |  |  | $ | 1,875 |  |  | $ | 10,199 |  |  | $ | 40,444 |  |  | $ | 21,080 |  |  | $ | 2,016 |  |  | $ | 10,114 |  |  | $ | 33,210 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Future policy benefits |  | $ | 200,355 |  |  | $ | 3,873 |  |  | $ | — |  |  | $ | 204,228 |  |  | $ | 195,915 |  |  | $ | 3,806 |  |  | $ | — |  |  | $ | 199,721 |
Policyholder account balances |  | 203,013 |  |  | 69 |  |  | — |  |  | 203,082 |  |  | 203,391 |  |  | 82 |  |  | — |  |  | 203,473 |
Other policy-related balances |  | 18,472 |  |  | 1,183 |  |  | (4) |  |  | 19,651 |  |  | 16,380 |  |  | 1,368 |  |  | 3 |  |  | 17,751 |
Other liabilities |  | 18,700 |  |  | 2,007 |  |  | 5,273 |  |  | 25,980 |  |  | 15,519 |  |  | 2,139 |  |  | 4,880 |  |  | 22,538 |
Total liabilities |  | $ | 440,540 |  |  | $ | 7,132 |  |  | $ | 5,269 |  |  | $ | 452,941 |  |  | $ | 431,205 |  |  | $ | 7,395 |  |  | $ | 4,883 |  |  | $ | 443,483 |

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 + Details
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- References No definition available. + Details
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