Reinsurance (Tables)

3 Months Ended

Mar. 31, 2022

Reinsurance Impact on Statements of Financial Position

Reinsurance amounts included in the Company's Unaudited Interim Statements of Financial Position as of March 31, 2022 and December 31, 2021 were as follows:


	March 31, 2022		December 31, 2021
	(in thousands)
Reinsurance recoverables	$	8,128,490	$	8,108,267
Deferred policy acquisition costs	(520,154)		(530,095)
Deferred sales inducements	(21,288)		(26,080)
Value of business acquired	(1,794)		(2,047)
Other assets	51,988		53,622


Reinsurance payables	6,999,679		7,182,652
Other liabilities	802,535		824,387

Reinsurance Recoverables by Counterparty

The reinsurance recoverables by counterparty are broken out below:


	March 31, 2022		December 31, 2021
	(in thousands)
Prudential Insurance	$	325,811	$	371,851
Pruco Life	7,802,679		7,736,416

Total reinsurance recoverables	$	8,128,490	$	8,108,267

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,
		2022		2021
		(in thousands)
Premiums:
Direct		$	8,944	$	6,137
Assumed		0		10,076
Ceded		(1,393)		(451)
Net premiums		7,551		15,762
Policy charges and fee income:
Direct		102,008		107,332
Assumed		0		407,138
Ceded(1)		(5,164)		(6,887)
Net policy charges and fee income		96,844		507,583
Asset management and service fees:
Direct		22,256		23,916
Assumed		0		81,622
Ceded		(1,915)		(2,017)
Net asset management and service fees		20,341		103,521
Realized investment gains (losses), net:
Direct		312,198		(2,106,085)
Assumed		0		5,377,897
Ceded		168,727		(142,676)
Realized investment gains (losses), net		480,925		3,129,136
Policyholders' benefits (including change in reserves):
Direct		31,145		17,289
Assumed		0		12,390
Ceded(2)		(4,891)		(51)
Net policyholders' benefits (including change in reserves)		26,254		29,628
Interest credited to policyholders’ account balances:
Direct		91,152		81,621
Assumed		0		70,946
Ceded		(6,509)		(4,657)
Net interest credited to policyholders’ account balances		84,643		147,910
Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization		(41,108)		339,711

(1)Includes $0 million and $(0.3) million of unaffiliated activity for the three months ended March 31, 2022 and 2021, respectively.

(2)Includes $0 million and $(0.1) million of unaffiliated activity for the three months ended March 31, 2022 and 2021, respectively.