REINSURANCE (Tables)

12 Months Ended

Dec. 31, 2021

Reinsurance Disclosures [Abstract]

Schedule of net life insurance in-force

The following table presents total net life insurance in-force:

	As of December 31,
	2021			2020
	(Dollars In Millions)
Direct life insurance in-force	$	829,253		$	785,197
Amounts assumed from other companies		191,110			206,050
Amounts ceded to other companies		(222,865)			(244,588)
Net life insurance in-force	$	797,498		$	746,659
Percentage of amount assumed to net		24	%		28	%

Schedule of effect of reinsurance on life insurance premiums written and earned

The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned:

					Assumed
			Ceded to		from
	Gross		Other		Other		Net
	Amount		Companies		Companies		Amount
	(Dollars In Millions)
For The Year Ended December 31, 2021
Premiums and policy fees:
Life insurance	$	2,843	$	(1,113)	$	1,037	$	2,767	(1)
Accident/health insurance		32		(19)		28		41
Property and liability insurance		281		(188)		1		94
Total	$	3,156	$	(1,320)	$	1,066	$	2,902
For The Year Ended December 31, 2020 (Recast)
Premiums and policy fees:
Life insurance	$	2,661	$	(826)	$	934	$	2,769	(1)
Accident/health insurance		37		(23)		90		104
Property and liability insurance		279		(178)		2		103
Total	$	2,977	$	(1,027)	$	1,026	$	2,976
For The Year Ended December 31, 2019 (Recast)
Premiums and policy fees:
Life insurance	$	2,853	$	(1,312)	$	836	$	2,377	(1)
Accident/health insurance		42		(90)		41		(7)
Property and liability insurance		281		(106)		3		178
Total	$	3,176	$	(1,508)	$	880	$	2,548

(1) Includes annuity policy fees of $199 million, $163 million, and $164 million, for the years ended December 31, 2021, 2020, and 2019, respectively.

Schedule of receivables attributable to more significant reinsurance partners

The following table sets forth the receivables attributable to our more significant reinsurance partners:

	As of December 31,
	2021			2020
	Reinsurance		A.M. Best	Reinsurance		A.M. Best
	Receivable		Rating	Receivable		Rating
	(Dollars In Millions)
Security Life of Denver Insurance Company	$	500.5	A-	$	548.5	NR
Swiss Re Life & Health America, Inc.		480.1	A+		489.6	A+
Lincoln National Life Insurance Co.		337.3	A+		370.7	A+
Somerset Re		335.1	A-		259.9	A-
Transamerica Life Insurance Co.		226.4	A		240.3	A
RGA Reinsurance Company		204.6	A+		210.5	A+
American United Life Insurance Company		187.6	A+		199.1	A+
Centre Reinsurance (Bermuda) Ltd		149.3	A		167.3	NR
Employers Reassurance Corporation		139.4	B+		162.0	NR
The Canada Life Assurance Company		123.2	A+		134.0	A+