Reinsurance (Tables)

3 Months Ended

Mar. 31, 2017

Reinsurance Disclosures [Abstract]

Reinsurance Impact On Balance Sheet

Reinsurance amounts included in the Company's Unaudited Interim Statements of Financial Position as of March 31, 2017 and December 31, 2016 were as follows:

	March 31, 2017			December 31, 2016
	(in thousands)
Reinsurance recoverables	$	551,288		$	588,608
Deferred policy acquisition costs	3,569,578			3,557,248
Deferred sales inducements	512,932			520,182
Value of business acquired	(2,344		)	(2,357		)
Other assets	103,537			112,802
Policyholders’ account balances	2,627,659			2,576,357
Future policy benefits	4,764,632			5,130,753
Reinsurance payables(1)	268,455			275,822
Other liabilities	334,367			335,713

(1) "Reinsurance payables" includes $0.1 million of unaffiliated activity as of both March 31, 2017 and December 31, 2016.

Reinsurance Recoverables by Affiliate

The reinsurance recoverables by counterparty are broken out below:

	March 31, 2017		December 31, 2016
	(in thousands)
Prudential Insurance	$	286,076	$	306,191
Pruco Life	265,100		282,326
Unaffiliated	112		91
Total reinsurance recoverables	$	551,288	$	588,608

Reinsurance Impact On Income Statement

Reinsurance amounts, included in the Company’s Unaudited Interim Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, were as follows:

	2017			2016(1)
	(in thousands)
Premiums:
Direct	$	9,425		$	5,788
Assumed	9,635			0
Ceded	(233		)	(298		)
Net premiums	18,827			5,490
Policy charges and fee income:
Direct	155,671			161,203
Assumed	392,902			0
Ceded(2)	(11,267		)	(11,697		)
Net policy charges and fee income	537,306			149,506
Asset administration fees and other income:
Direct	31,415			29,705
Assumed	69,803			0
Ceded	(2,416		)	(2,374		)
Net asset administration fees and other income	98,802			27,331
Realized investment gains (losses), net:
Direct	(559,563		)	(630,111		)
Assumed	591,422			0
Ceded	(22,374		)	615,869
Realized investment gains (losses), net	9,485			(14,242		)
Policyholders' benefits (including change in reserves):
Direct	15,207			24,334
Assumed	10,961			0
Ceded	(9,395		)	(658		)
Net policyholders' benefits (including change in reserves)	16,773			23,676
Interest credited to policyholders’ account balances:
Direct	16,224			142,995
Assumed	19,954			0
Ceded	(795		)	(11,336		)
Net interest credited to policyholders’ account balances	35,383			131,659
Net reinsurance expense allowances, net of capitalization and amortization	235,203			(20,513		)

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

(2) "Policy charges and fee income ceded" includes $(0.5) million and $(0.6) million of unaffiliated activity for the three months ended March 31, 2017 and 2016, respectively.