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Reinsurance (Tables)
 9 Months Ended
Sep. 30, 2016
Reinsurance Disclosures [Abstract]  
Reinsurance Impact On Balance Sheet
Reinsurance amounts included in the Company's Unaudited Interim Statements of Financial Position as of September 30, 2016 and December 31, 2015 were as follows:
 
September 30, 2016
 
December 31, 2015
 
(in thousands)
Reinsurance recoverables
$
698,180

 
$
3,088,328

Deferred policy acquisition costs
3,310,700

 
(73,864
)
Deferred sales inducements
486,393

 
(39,253
)
Value of business acquired
(2,443
)
 
(2,632
)
Other assets
111,956

 
0

Policyholders’ account balances
2,513,030

 
0

Future policy benefits
8,185,926

 
0

Reinsurance payables(1)
278,650

 
250,277

Other liabilities
323,294

 
0



(1)
"Reinsurance payables" includes $0.2 million of unaffiliated activity as of September 30, 2016 and December 31, 2015.
Reinsurance Table By Affiliate
The reinsurance recoverables by counterparty is broken out below.
 
September 30, 2016
 
December 31, 2015
 
(in thousands)
Prudential Insurance
$
409,516

 
$
323,363

Pruco Life
288,348

 
0

Pruco Re
0

 
2,764,927

Unaffiliated
316

 
38

Total reinsurance recoverables
$
698,180

 
$
3,088,328
Reinsurance Impact On Income Statement
Reinsurance amounts included in the Company’s Unaudited Interim Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended September 30, 2016 and 2015 were as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
 
(in thousands)
Premiums:
 
 
 
 
 
 
 
Direct
$
11,909

 
$
7,887

 
$
28,958

 
$
25,189

Assumed
(10,248
)
 
0

 
821,089

 
0

Ceded
(2,256
)
 
0

 
(2,554
)
 
0

Net premiums
(595
)
 
7,887

 
847,493

 
25,189

Policy charges and fee income:
 
 
 
 
 
 
 
Direct
163,547

 
184,134

 
487,837

 
568,677

Assumed
392,156

 
0

 
766,451

 
0

Ceded (1)
(11,522
)
 
(208
)
 
(34,582
)
 
(1,959
)
Net policy charges and fee income
544,181

 
183,926

 
1,219,706

 
566,718

Asset administration fees and other income:
 
 
 
 
 
 
 
Direct
29,814

 
38,192

 
97,246

 
146,951

Assumed
69,493

 
0

 
135,902

 
0

Ceded
(2,502
)
 
0

 
(7,316
)
 
0

Net asset administration fees and other income
96,805

 
38,192

 
225,832

 
146,951

Interest credited to policyholders’ account balances:
 
 
 
 
 
 
 
Direct
(64,111
)
 
110,894

 
87,752

 
218,792

Assumed
(27,278
)
 
0

 
18,816

 
0

Ceded
5,774

 
0

 
(5,384
)
 
0

Net interest credited to policyholders’ account balances
(85,615
)
 
110,894

 
101,184

 
218,792

Policyholders' benefits (including change in reserves):
 
 
 
 
 
 
 
Direct
10,835

 
37,711

 
49,471

 
61,357

Assumed
(8,895
)
 
0

 
526,292

 
0

Ceded (2)
(10,873
)
 
242

 
(21,417
)
 
242

Net policyholders' benefits (including change in reserves)
(8,933
)
 
37,953

 
554,346

 
61,599

Realized investment gains (losses), net:
 
 
 
 
 
 
 
Direct
(409,674
)
 
(985,269
)
 
507,527

 
(61,179
)
Assumed
394,419

 
0

 
(3,366,784
)
 
0

Ceded
(20,470
)
 
990,956

 
361,596

 
71,185

Realized investment gains (losses), net
(35,725
)
 
5,687

 
(2,497,661
)
 
10,006

Net reinsurance expense allowances, net of capitalization and amortization
(14,625
)
 
(928
)
 
504,820

 
(2,858
)


(1)
"Policy charges and fee income ceded" includes $(0.3) million and $(0.2) million of unaffiliated activity for the three months ended September 30, 2016 and 2015, respectively, and $(1) million and $(2) million for the nine months ended September 30, 2016 and 2015, respectively.
(2)
"Policyholders' benefits (including change in reserves) ceded" includes $0.0 million and $0.2 million of unaffiliated activity for the three months ended September 30, 2016 and 2015, respectively, and $(0.2) million and $0.2 million for the nine months ended September 30, 2016 and 2015, respectively.