XML 61 R50.htm IDEA: XBRL DOCUMENT v3.23.2
REINSURANCE (Tables)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
2023202220232022
(in millions)
Direct charges and fee income$640 $669 $1,400 $1,473 
Reinsurance assumed— (1)3 (1)
Reinsurance ceded(46)(48)(221)(202)
Policy charges and fee income$594 $620 $1,182 $1,270 
Direct premiums$290 $263 $581 $516 
Reinsurance assumed43 37 95 87 
Reinsurance ceded(53)(62)(120)(118)
Premiums$280 $238 $556 $485 
Direct policyholders’ benefits$874 $693 $1,727 $1,604 
Reinsurance assumed40 51 76 106 
Reinsurance ceded(230)(155)(389)(319)
Policyholders’ benefits$684 $589 $1,414 $1,391 
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(in millions)
Direct interest credited to policyholders’ account balances$526 $322 $1,009 $662 
Reinsurance ceded(25)(12)(45)(39)
Interest credited to policyholders’ account balances$501 $310 $964 $623 
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.
June 30, 2023December 31, 2022
(in millions)
Ceded Reinsurance:
Estimated net fair values of purchased market risk benefits
$9,931 $10,423 
Third-party reinsurance recoverables related to insurance contracts8,395 8,471 
Top reinsurers:
First Allmerica-GAF3,828 4,005 
Zurich Life Insurance Company, Ltd.1,379 1,416 
RGA Reinsurance Company1,295 1,272 
Ceded group health reserves48 47 
Amount due to reinsurers1,404 1,533 
Top reinsurers:
RGA Reinsurance Company1,152 1,171 
First Allmerica-GAF67 147 
Protective Life Insurance Company100 104 
Assumed Reinsurance:
Reinsurance assumed reserves$687 $701