XML 75 R55.htm IDEA: XBRL DOCUMENT v3.25.0.1
REINSURANCE (Tables)
 12 Months Ended
Dec. 31, 2024
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.
Year Ended December 31,
202420232022
(in millions)
Direct charges and fee income$3,230 $3,093 $3,145 
Reinsurance assumed— 3 — 
Reinsurance ceded(735)(716)(691)
Policy charges and fee income$2,495 $2,380 $2,454 
Direct premiums$1,245 $1,175 $1,042 
Reinsurance assumed164 174 180 
Reinsurance ceded(247)(245)(228)
Premiums$1,162 $1,104 $994 
Direct policyholders’ benefits$3,285 $3,315 $3,262 
Reinsurance assumed147 157 179 
Reinsurance ceded(736)(718)(725)
Policyholders’ benefits$2,696 $2,754 $2,716 
Direct interest credited to policyholders’ account balances$2,583 $2,174 $1,440 
Reinsurance ceded(84)(91)(30)
Interest credited to policyholders’ account balances$2,499 $2,083 $1,410 
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:
December 31,
20242023
(in millions)
Ceded Reinsurance:
Estimated net fair values of purchased market risk benefits (1)
$7,376 $9,427 
Third-party reinsurance recoverables related to insurance contracts8,044 8,352 
Top reinsurers:
First Allmerica-GAF3,245 3,606 
Zurich Life Insurance Company, Ltd.2,444 1,326 
RGA Reinsurance Company1,205 1,228 
Ceded group health reserves53 56 
Amount due to reinsurers1,407 1,450 
Top reinsurers:
RGA Reinsurance Company2,187 1,151 
First Allmerica-GAF77 73 
Protective Life Insurance Company106 99 
Assumed Reinsurance:
Reinsurance assumed reserves$647 $731 
_____________
(1)The estimated fair values of purchased MRB risks decreased $(2.1) billion and $(996) million for the years ended December 31, 2024 and 2023, respectively.