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RELATED PARTY TRANSACTIONS (Tables)
 9 Months Ended
Sep. 30, 2022
Related Party Transactions [Abstract]  
Affiliated Asset Transfer The table below shows affiliated asset trades for the six months ended September 30, 2022.
AffiliateDateTransactionSecurity TypeFair ValueBook ValueInvestment Gains (Losses), net
(in millions)
Fortitude Reinsurance Company, Ltd.July 2022PurchaseFixed Maturity Security$37 $37 $— 
Fortitude Reinsurance Company, Ltd.July 2022PurchaseFixed Maturity Security15 15 — 
Fortitude Reinsurance Company, Ltd.July 2022PurchaseLimited Partnership9 9 — 
Fortitude Re Investments, LLCAugust 2022PurchaseFixed Maturity Security42 42 — 
Fortitude Re Investments, LLCAugust 2022PurchaseFixed Maturity Security23 23 — 
Fortitude Re Investments, LLCAugust 2022PurchaseLimited Partnership15 15 — 
The table below shows affiliated asset trades for the three months ended March 31, 2022 and for the year ended December 31, 2021.
AffiliateDateTransaction Security Type  Fair Value  Book Value  Realized
Investment
Gain (Loss)
(in millions)
Prudential InsuranceApril 2021PurchaseFixed Maturities$201 $201 $— 
Prudential InsuranceApril 2021PurchaseCommercial Mortgage Loan177 177 — 
Vantage Casualty Insurance Co.June 2021PurchaseFixed Maturities15 15 — 
Prudential InsuranceJune 2021SaleEquities3 3 — 
Pruco LifeJune 2021SaleEquities40 38 2 
Passaic Fund LLCJune 2021Transfer OutOther Invested Assets12 12 — 
Passaic Fund LLCJuly 2021Transfer OutOther Invested Assets196 196 — 
Prudential InsuranceSeptember 2021PurchaseFixed Maturities2 2 — 
Prudential InsuranceSeptember 2021SaleFixed Maturities12 11 1 
Prudential Retirement Insurance and Annuity CompanySeptember 2021SaleFixed Maturities26 24 2 
Prudential Retirement Insurance and Annuity CompanySeptember 2021PurchaseFixed Maturities35 35 — 
Prudential InsuranceSeptember 2021PurchaseDerivatives— — — 
Prudential Retirement Insurance and Annuity CompanySeptember 2021PurchaseDerivatives(1)(1)— 
Prudential FinancialOctober 2021SaleEquities10 10 — 
Pruco LifeNovember 2021SaleDerivatives1 — 1 
AffiliateDateTransaction Security Type  Fair Value  Book Value  Realized
Investment
Gain (Loss)
(in millions)
Prudential Arizona ReinsuranceNovember 2021PurchaseFixed Maturities55 55 — 
Pruco LifeDecember 2021Transfer OutFixed Maturities2,038 1,934 104 
Pruco LifeDecember 2021SaleFixed Maturities57 57 — 
Prudential FinancialDecember 2021DividendFixed Maturities167 167 — 
Prudential FinancialDecember 2021SaleFixed Maturities144 138 6 
Prudential FinancialDecember 2021PurchaseCommercial Mortgage Loan185 185 — 
Pruco LifeDecember 2021Transfer OutCommercial Mortgage Loan538 517 21 
Pruco LifeDecember 2021SaleDerivatives8 2 6 
Pruco LifeJanuary 2022SaleFixed Maturities4 5 (1)
Prudential FinancialJanuary 2022SaleCommercial Mortgage Loan29 30 — 
Pruco LifeJanuary 2022SaleDerivatives— — — 
Pruco LifeFebruary 2022SaleFixed Maturities129 138 (10)
Prudential FinancialMarch 2022SaleFixed Maturities$33 $33 $(1)
Reinsurance Impact On Balance Sheet
Reinsurance amounts included in the audited Financial Statements included in the Predecessor Company's Annual Report on Form 10-K for the year ended December 31, 2021 were as follows:

December 31, 2021
 (in millions)
Reinsurance recoverables$8,108 
Deferred policy acquisition costs(530)
Deferred sales inducements(26)
Value of business acquired(2)
Other assets54 
Reinsurance payables7,183 
Other liabilities824 
Reinsurance Table By Affiliate
The reinsurance recoverables by counterparty are broken out below:
December 31, 2021
 (in millions)
Prudential Insurance$372 
Pruco Life7,736 
Total reinsurance recoverables$8,108 
Reinsurance Impact On Income Statement
Reinsurance amounts, included in the Predecessor Company’s Unaudited Interim Statements of Operations and Comprehensive Income (Loss), were as follows:
Predecessor Company
 Three Months Ended
March 31		Three Months
Ended
September 30		Nine Months
Ended
September 30
 2021
 (in millions)
Premiums:
Direct$9 $7 $19 
Assumed— — 16 
Ceded(1)(1)(3)
Net premiums8 6 33 
Policy charges and fee income:
Direct102 113 329 
Assumed— — 819 
Ceded(1)(5)(7)(20)
Net policy charges and fee income 97 106 1,128 
Asset management and service fees:
Direct22 25 73 
Assumed— — 165 
Ceded(2)(2)(6)
Net asset management and service fees20 23 232 
Realized investment gains (losses), net:
Direct312 (3,243)(4,856)
Assumed— 8,328 12,350 
Ceded169 (5)(122)
Realized investment gains (losses), net481 5,081 7,373 
Policyholders' benefits (including change in reserves):
Direct31 19 44 
Assumed— (257)(254)
Ceded(2)(5)(4)(5)
Net policyholders' benefits (including change in reserves) 26 (242)(216)
Interest credited to policyholders’ account balances:
Direct91 43 139 
Assumed— 399 476 
Ceded(6)(2)(6)
Net interest credited to policyholders’ account balances85 441 610 
Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization(41)1,193 1,708 

(1)Includes $0.0 million, $(0.4) million and $(0.4) million of unaffiliated activity (with respect to the Predecessor Company) for the three months ended March 31, 2022 three month ended September 30, 2021 and the nine months ended September 30, 2021, respectively.
(2) Includes $0.0 million and $(2.9) million, and $(3.3) million of unaffiliated activity (with respect to the Predecessor Company) for the three months ended March 31, 2022, the three month ended September 30, 2021, and the nine months ended September 30, 2021, respectively.