Reinsurance (Tables)

3 Months Ended

Mar. 31, 2019

Reinsurance Disclosures [Abstract]

Reinsurance Impact on Statements of Financial Position

Reinsurance amounts included in the Company's Unaudited Interim Statements of Financial Position as of March 31, 2019 and December 31, 2018 were as follows:

	March 31, 2019			December 31, 2018
	(in thousands)
Reinsurance recoverables(1)	$	592,751		$	572,102
Deferred policy acquisition costs	3,762,300			3,703,166
Deferred sales inducements	481,564			476,608
Value of business acquired	(2,425		)	(2,431		)
Other assets	90,099			79,992
Policyholders’ account balances	3,132,527			3,098,537
Future policy benefits	6,439,923			5,680,939
Reinsurance payables(2)	268,835			232,937
Other liabilities	299,065			290,330

(1) "Reinsurance recoverables" includes $0.2 million and $0 million of unaffiliated activity as of March 31, 2019 and December 31, 2018, respectively.

(2) "Reinsurance payables" includes $0.1 million of unaffiliated activity as of both March 31, 2019 and December 31, 2018.

Reinsurance Recoverables by Counterparty

The reinsurance recoverables by counterparty are broken out below:

	March 31, 2019		December 31, 2018
	(in thousands)
Prudential Insurance	$	342,343	$	335,349
Pruco Life	250,235		236,716
Unaffiliated	173		37
Total reinsurance recoverables	$	592,751	$	572,102

Reinsurance Impact on Statements of Operations and Comprehensive Income (Loss)

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:

	Three Months Ended March 31,
	2019			2018
	(in thousands)
Premiums:
Direct	$	8,054		$	12,113
Assumed	9,095			10,181
Ceded	116			(1,260		)
Net premiums	17,265			21,034
Policy charges and fee income:
Direct	121,611			145,713
Assumed	395,088			420,026
Ceded(1)	(8,765		)	(10,449		)
Net policy charges and fee income	507,934			555,290
Asset administration fees and other income:
Direct	38,745			26,033
Assumed	72,695			75,892
Ceded	(2,052		)	(2,388		)
Net asset administration fees and other income	109,388			99,537
Realized investment gains (losses), net:
Direct	(834,208		)	(748,325		)
Assumed	(515,709		)	1,349,104
Ceded	7,698			(42,089		)
Realized investment gains (losses), net	(1,342,219		)	558,690
Policyholders' benefits (including change in reserves):
Direct	7,103			18,164
Assumed	2,357			17,892
Ceded(2)	(1,510		)	(1,030		)
Net policyholders' benefits (including change in reserves)	7,950			35,026
Interest credited to policyholders’ account balances:
Direct	6,010			36,388
Assumed	4,811			35,791
Ceded	(394		)	(2,609		)
Net interest credited to policyholders’ account balances	10,427			69,570
Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization	199,255			296,197

(1) "Policy charges and fee income ceded" includes $0 million and $(0.2) million of unaffiliated activity for the three months ended March 31, 2019 and 2018, 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 March 31, 2019 and 2018, respectively.