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REINSURANCE (Tables)
 3 Months Ended
Mar. 31, 2023
Reinsurance Disclosures [Abstract]  
Schedule Of Effect Of Reinsurance
The following table summarizes the effect of reinsurance. The impact of the transactions described above results in a decrease to reinsurance assumed and an increase in reinsurance ceded.
Three Months Ended March 31,
20232022
(in millions)
Direct premiums$290 $250 
Reinsurance assumed52 50 
Reinsurance ceded(66)(53)
Premiums$276 $247 
Direct charges and fee income$777 $834 
Reinsurance ceded(189)(184)
Policy charges and fee income$588 $650 
Direct policyholders’ benefits$859 $917 
Reinsurance assumed36 55 
Reinsurance ceded(165)(170)
Policyholders’ benefits$730 $802 
Direct interest credited to policyholders’ account balances$464 $338 
Reinsurance ceded(1)(25)
Interest credited to policyholders’ account balances$463 $313 
Schedule of Ceded Credit Risk The following table summarizes the ceded reinsurance GMIB reinsurance contracts, third-party recoverables, amount due to reinsurance and assumed reserves.
March 31, 2023December 31, 2022
(in millions)
Ceded Reinsurance:
Estimated net fair values of purchased market risk benefits
$10,676 $10,423 
Third-party reinsurance recoverables related to insurance contracts8,453 8,471 
Top reinsurers:
First Allmerica-GAF3,933 4,005 
Zurich Life Insurance Company, Ltd.1,401 1,416 
RGA Reinsurance Company1,301 1,272 
Ceded group health reserves48 47 
Amount due to reinsurers1,428 1,533 
Top reinsurers:
RGA Reinsurance Company1,175 1,171 
First Allmerica-GAF71 147 
Protective Life Insurance Company103 104 
Assumed Reinsurance:
Reinsurance assumed reserves$694 $701