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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2019
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:
 
2019
 
2018
 
(in thousands)
Reinsurance recoverables
$
621,510

 
$
572,102

Deferred policy acquisition costs
3,725,719

 
3,703,166

Deferred sales inducements
437,594

 
476,608

Value of business acquired
(2,275
)
 
(2,431
)
Other assets
65,819

 
79,992

Policyholders’ account balances
3,253,474

 
3,098,537

Future policy benefits
8,328,777

 
5,680,939

Reinsurance payables(1)
235,318

 
232,937

Other liabilities
337,909

 
290,330


(1)
Includes $0.1 million of unaffiliated activity as of both December 31, 2019 and 2018.
Reinsurance Table By Affiliate
The reinsurance recoverables by counterparty are broken out below:
 
December 31, 2019
 
December 31, 2018
 
(in thousands)
Prudential Insurance
$
387,355

 
$
335,349

Pruco Life
233,933

 
236,716

Unaffiliated
222

 
37

Total reinsurance recoverables
$
621,510

 
$
572,102
Reinsurance Impact On Income Statement

Reinsurance amounts, included in the Company’s Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows:
 
2019
 
2018
 
2017
 
(in thousands)
Premiums:
 
 
 
 
 
Direct
$
29,022

 
$
37,895

 
$
33,908

Assumed
31,570

 
31,989

 
32,890

Ceded
(1,042
)
 
(2,619
)
 
(3,225
)
Net premiums
59,550

 
67,265

 
63,573

Policy charges and fee income:
 
 
 
 
 
Direct
477,478

 
549,500

 
622,099

Assumed
1,638,023

 
1,661,484

 
1,632,132

Ceded(1)
(34,455
)
 
(39,706
)
 
(44,652
)
Net policy charges and fee income
2,081,046

 
2,171,278

 
2,209,579

Asset administration fees and other income:
 
 
 
 
 
Direct
141,884

 
96,743

 
129,847

Assumed
306,945

 
301,549

 
293,275

Ceded
(8,346
)
 
(9,136
)
 
(9,747
)
Net asset administration fees and other income
440,483

 
389,156

 
413,375

Realized investment gains (losses), net:
 
 
 
 
 
Direct
(1,137,422
)
 
81,120

 
(1,335,253
)
Assumed
(1,584,764
)
 
823,129

 
554,686

Ceded
40,866

 
(20,176
)
 
(24,833
)
Realized investment gains (losses), net
(2,681,320
)
 
884,073

 
(805,400
)
Policyholders' benefits (including change in reserves):
 
 
 
 
 
Direct
58,308

 
81,045

 
52,477

Assumed
89,284

 
110,358

 
46,375

Ceded(2)
(3,667
)
 
(4,315
)
 
15,216

Net policyholders' benefits (including change in reserves)
143,925

 
187,088

 
114,068

Interest credited to policyholders’ account balances:
 
 
 
 
 
Direct
82,444

 
127,018

 
9,834

Assumed
84,182

 
132,324

 
24,708

Ceded
(5,417
)
 
(10,167
)
 
(4,262
)
Net interest credited to policyholders’ account balances
161,209

 
249,175

 
30,280

Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization
988,951

 
1,131,351

 
725,749


(1)
Includes $(1) million, $(1) million and $(2) million of unaffiliated activity for the years ended December 31, 2019, 2018 and 2017, respectively.
(2)
Includes $(0.1) million, $(0.3) million and $(0.1) million of unaffiliated activity for the years ended December 31, 2019, 2018 and 2017, respectively.