Reinsurance (Tables)

3 Months Ended

Mar. 31, 2025

Information regarding the effect of reinsurance on the Condensed Consolidated Balance Sheets is as follows as of the periods indicated:


	Direct		Assumed (1)		Ceded		Total, Net of Reinsurance
March 31, 2025
Assets
Premium receivable	$	213	$	12	$	(248)	$	(23)
Reinsurance recoverable, net of allowance for credit losses	—		—		11,167		11,167
Total	$	213	$	12	$	10,919	$	11,144
Liabilities
Future policy benefits and contract owner account balances	$	45,368	$	4,395	$	—	$	49,763
Total	$	45,368	$	4,395	$	—	$	49,763

December 31, 2024
Assets
Premium receivable	$	205	$	10	$	(238)	$	(23)
Reinsurance recoverable, net of allowance for credit losses	—		—		11,307		11,307
Total	$	205	$	10	$	11,069	$	11,284
Liabilities
Future policy benefits and contract owner account balances	$	45,540	$	896	$	—	$	46,436
Total	$	45,540	$	896	$	—	$	46,436

(1) As of March 31, 2025, Future policy benefits and contract owner account balances include $3.5 billion of investment contracts assumed related to the acquisition of OneAmerica Financial's full-service retirement plan business.

Information regarding the effect of reinsurance on the Condensed Consolidated Statements of Operations is as follows for the periods indicated:


	Three Months Ended March 31,
		2025		2024
Premiums:
Direct premiums		$	958	$	1,029
Reinsurance assumed		8		7
Reinsurance ceded		(229)		(236)
Net premiums		$	737	$	800

Fee income:
Gross fee income		$	645	$	608
Reinsurance assumed		26		4
Reinsurance ceded		(101)		(99)
Net fee income		$	570	$	513

Interest credited and other benefits to contract owners / policyholders:
Direct interest credited and other benefits to contract owners / policyholders		$	1,154	$	1,181
Reinsurance assumed		25		19
Reinsurance ceded		(344)		(349)
Net interest credited and other benefits to contract owners / policyholders		$	835	$	851