Reinsurance (Tables)

9 Months Ended

Sep. 30, 2016

Details on in-force life insurance follow:

	September 30, 2016			December 31, 2015
	(Dollars in thousands)
Direct life insurance in force	$	725,613,934		$	696,884,429
Amounts ceded to other companies		(638,417,864	)		(616,252,839	)
Net life insurance in force	$	87,196,070		$	80,631,590
Percentage of reinsured life insurance in force		88	%		88	%

Reinsurance Receivable and Financial Strength Ratings by Reinsurer

Due from reinsurers includes ceded reserve balances and ceded claim liabilities. Reinsurance receivable and financial strength ratings by reinsurer were as follows:

	September 30, 2016			December 31, 2015
	Reinsurance receivable		A.M. Best rating	Reinsurance receivable		A.M. Best rating
	(In thousands)
Pecan Re Inc.^{(1) (2)}	$	2,718,356	NR	$	-	-
Prime Reinsurance Company⁽²⁾		-	-		2,692,721	NR
SCOR Global Life Reinsurance Companies⁽³⁾		358,815	A		362,195	A
Munich Re Life Insurance Company of Vermont^{(2) (5)}		290,384	NR		270,306	NR
Swiss Re Life & Health America Inc.⁽⁴⁾		246,036	A+		254,461	A+
American Health and Life Insurance Company⁽²⁾		177,295	B		176,790	B
Munich American Reassurance Company		106,446	A+		101,466	A+
Korean Reinsurance Company		96,066	A		91,605	A
RGA Reinsurance Company		83,313	A+		81,217	A+
TOA Reinsurance Company		22,339	A+		22,242	A+
Hannover Life Reassurance Company		22,606	A+		20,650	A+
All other reinsurers		39,881	-		36,975	-
Due from reinsurers	$	4,161,537		$	4,110,628

NR – not rated

⁽¹⁾	Pecan Re Inc. is a wholly owned subsidiary of Swiss Re Life & Health America Inc.

⁽²⁾	Includes balances ceded under coinsurance transactions of term life insurance policies that were in force as of December 31, 2009. Amounts shown are net of their share of the reinsurance receivable from other reinsurers.

⁽³⁾	Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies.

⁽⁴⁾	Includes amounts ceded to Lincoln National Life Insurance and fully retroceded to Swiss Re Life & Health America Inc.

⁽⁵⁾	Previously known as Financial Reassurance Company 2010, Ltd. This entity was acquired by Munich American Reassurance Company from Citigroup Inc. (“Citigroup”) as of September 23, 2016 and was subsequently renamed Munich Re Life Insurance Company of Vermont.