Reinsurance (Tables)

12 Months Ended

Dec. 31, 2016

Reinsurance Disclosures [Abstract]

Reinsurance Impact On Balance Sheet

Reinsurance amounts included in the Company's Statements of Financial Position as of December 31, were as follows:

	2016			2015
	(in thousands)
Reinsurance recoverables	$	588,608		$	3,088,328
Deferred policy acquisition costs	3,557,248			(73,864		)
Deferred sales inducements	520,182			(39,253		)
Value of business acquired	(2,357		)	(2,632		)
Other assets	112,802			0
Policyholders’ account balances	2,576,357			0
Future policy benefits	5,130,753			0
Reinsurance payables(1)	275,822			250,277
Other liabilities	335,713			0

(1) "Reinsurance payables" includes $0.1 million and $0.2 million of unaffiliated activity as of December 31, 2016 and 2015, respectively.

Reinsurance Table By Affiliate

The reinsurance recoverables by counterparty are broken out below:

	December 31, 2016		December 31, 2015
	(in thousands)
Prudential Insurance	$	306,191	$	323,363
Pruco Life	282,326		0
Pruco Re	0		2,764,927
Unaffiliated	91		38
Total reinsurance recoverables	$	588,608	$	3,088,328

Reinsurance Impact On Income Statement

Reinsurance amounts, included in the Company’s Statements of Operations and Comprehensive Income for the years ended December 31, were as follows:

	2016			2015			2014
	(in thousands)
Premiums:
Direct	$	39,326		$	33,250		$	34,903
Assumed	860,831			0			0
Ceded	(3,318		)	(23,463		)	0
Net premiums	896,839			9,787			34,903
Policy charges and fee income:
Direct	647,226			743,956			809,072
Assumed	1,153,752			0			0
Ceded(1)	(45,754		)	(3,133		)	(2,745		)
Net policy charges and fee income	1,755,224			740,823			806,327
Asset administration fees and other income:
Direct	103,892			177,479			227,619
Assumed	205,221			0			0
Ceded	(9,729		)	0			0
Net asset administration fees and other income	299,384			177,479			227,619
Realized investment gains (losses), net:
Direct	(3,612,578		)	247,525			(1,967,588		)
Assumed	(81,510		)	0			0
Ceded	251,328			(241,473		)	1,974,956
Realized investment gains (losses), net	(3,442,760		)	6,052			7,368
Policyholders' benefits (including change in reserves):
Direct(3)	74,438			81,719			137,502
Assumed	553,280			0			0
Ceded (2)(3)	(23,661		)	(21,258		)	(367		)
Net policyholders' benefits (including change in reserves)	604,057			60,461			137,135
Interest credited to policyholders’ account balances:
Direct	74,389			225,555			211,058
Assumed	(1,551		)	0			0
Ceded	(3,949		)	0			0
Net interest credited to policyholders’ account balances	68,889			225,555			211,058
Net reinsurance expense allowances, net of capitalization and amortization(3)	563,027			(6,054		)	(3,874		)

(1) "Policy charges and fee income ceded" includes $(2) million, $(3) million and $(3) million of unaffiliated activity for the years ended December 31, 2016, 2015 and 2014, respectively.

(2) "Policyholders' benefits (including change in reserves) ceded" includes $(0.3) million, $(0.1) million and $(0.4) million of unaffiliated activity for the years ended December 31, 2016, 2015 and 2014, respectively.

(3) Prior period amounts are presented on a basis consistent with the current period presentation.