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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2018
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:
 
2018
 
2017
 
(in thousands)
Reinsurance recoverables
$
572,102

 
$
563,428

Deferred policy acquisition costs
3,703,166

 
3,766,066

Deferred sales inducements
476,608

 
540,389

Value of business acquired
(2,431
)
 
(2,702
)
Other assets
79,992

 
105,167

Policyholders’ account balances
3,098,537

 
2,825,030

Future policy benefits
5,680,939

 
5,511,496

Reinsurance payables(1)
232,937

 
262,588

Other liabilities
290,330

 
329,019


(1)
"Reinsurance payables" includes $0.1 million of unaffiliated activity as of both December 31, 2018 and 2017.
Reinsurance Table By Affiliate
The reinsurance recoverables by counterparty are broken out below:
 
December 31, 2018
 
December 31, 2017
 
(in thousands)
Prudential Insurance
$
335,349

 
$
310,758

Pruco Life
236,716

 
252,383

Unaffiliated
37

 
287

Total reinsurance recoverables
$
572,102

 
$
563,428
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:
 
2018
 
2017
 
2016
 
(in thousands)
Premiums:
 
 
 
 
 
Direct
$
37,895

 
$
33,908

 
$
39,326

Assumed
31,989

 
32,890

 
860,831

Ceded
(2,619
)
 
(3,225
)
 
(3,318
)
Net premiums
67,265

 
63,573

 
896,839

Policy charges and fee income:
 
 
 
 
 
Direct
549,500

 
622,099

 
647,226

Assumed
1,661,484

 
1,632,132

 
1,153,752

Ceded(1)
(39,706
)
 
(44,652
)
 
(45,754
)
Net policy charges and fee income
2,171,278

 
2,209,579

 
1,755,224

Asset administration fees and other income:
 
 
 
 
 
Direct
96,743

 
129,847

 
103,892

Assumed
301,549

 
293,275

 
205,221

Ceded
(9,136
)
 
(9,747
)
 
(9,729
)
Net asset administration fees and other income
389,156

 
413,375

 
299,384

Realized investment gains (losses), net:
 
 
 
 
 
Direct
81,120

 
(1,335,253
)
 
(3,612,578
)
Assumed
823,129

 
554,686

 
(81,510
)
Ceded
(20,176
)
 
(24,833
)
 
251,328

Realized investment gains (losses), net
884,073

 
(805,400
)
 
(3,442,760
)
Policyholders' benefits (including change in reserves):
 
 
 
 
 
Direct
81,045

 
52,477

 
74,438

Assumed
110,358

 
46,375

 
553,280

Ceded(2)
(4,315
)
 
15,216

 
(23,661
)
Net policyholders' benefits (including change in reserves)
187,088

 
114,068

 
604,057

Interest credited to policyholders’ account balances:
 
 
 
 
 
Direct
127,018

 
9,834

 
74,389

Assumed
132,324

 
24,708

 
(1,551
)
Ceded
(10,167
)
 
(4,262
)
 
(3,949
)
Net interest credited to policyholders’ account balances
249,175

 
30,280

 
68,889

Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization
1,131,351

 
725,749

 
563,027


(1)
"Policy charges and fee income ceded" includes $(1) million, $(2) million and $(2) million of unaffiliated activity for the years ended December 31, 2018, 2017 and 2016, respectively.
(2)
"Policyholders' benefits (including change in reserves) ceded" includes $(0.3) million, $(0.1) million and $(0.3) million of unaffiliated activity for the years ended December 31, 2018, 2017 and 2016, respectively.