REINSURANCE (Tables)

6 Months Ended

Jun. 30, 2023

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


	Three Months Ended June 30,						Six Months Ended June 30,
(In millions)	2023			2022			2023			2022
Direct earned premiums		$	3,623		$	3,792		$	7,361		$	7,907
Ceded to other companies:
Ceded Aflac Japan closed blocks		(80)			(87)			(165)			(185)
Other		(23)			(18)			(45)			(36)
Assumed from other companies:
Retrocession activities		30			36			64			77
Other		23			41			47			81
Net earned premiums		$	3,573		$	3,764		$	7,262		$	7,844

Direct benefits and claims, excluding reserve remeasurement		$	2,182		$	2,317		$	4,438		$	4,851
Reserve remeasurement (gains) losses		(54)			(25)			(107)			(59)
Total direct benefits and claims		2,128			2,292			4,331			4,792
Ceded benefits and change in reserves for future benefits:
Ceded Aflac Japan closed blocks		(74)			(77)			(151)			(165)
Eliminations		70			4			83			9
Other		(64)			(14)			(104)			(20)
Assumed from other companies:
Retrocession activities		20			39			61			78
Eliminations		(47)			(10)			(76)			(17)
Other		65			40			103			80
Total benefits and claims, net		$	2,098		$	2,274		$	4,247		$	4,757

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