REINSURANCE (Tables)

3 Months Ended

Mar. 31, 2023

The following table reconciles direct premiums and direct benefits and claims to net amounts after the effect of reinsurance which also includes the elimination of inter-segment amounts associated with affiliated reinsurance.


	Three Months Ended March 31,
(In millions)		2023	2022
Direct earned premiums				$	3,738	$	4,115
Ceded to other companies:
Ceded Aflac Japan closed blocks				(82)		(98)
Other				(25)		(19)
Assumed from other companies:
Retrocession activities				34		41
Other				23		40
Net earned premiums				$	3,688	$	4,079

Direct benefits and claims, excluding reserve remeasurement				$	2,256	$	2,334
Reserve remeasurement (gains) losses				(53)		(34)
Total direct benefits and claims				2,203		2,300
Ceded benefits and change in reserves for future benefits:
Ceded Aflac Japan closed blocks				(100)		(88)
Eliminations				14		5
Other				(18)		(5)
Assumed from other companies:
Retrocession activities				5		37
Eliminations				10		(5)
Other				36		239
Total benefits and claims, net				$	2,150	$	2,483

Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.