Information regarding the significant effects of affiliated reinsurance on the interim condensed consolidated statements of operations and comprehensive income (loss) was as follows: | | | | | | | | | | | | | | | | | | | | | Three Months
Ended
March 31, | | | | | 2026 | | 2025 | | | | | | | (In millions) | Premiums | | | | | | | | | Reinsurance assumed | | $ | 2 | | | $ | 4 | | | | | | Reinsurance ceded | | (111) | | | (110) | | | | | | Net premiums | | $ | (109) | | | $ | (106) | | | | | | Universal life and investment-type product policy fees | | | | | | | | | Reinsurance assumed | | $ | 13 | | | $ | 9 | | | | | | Reinsurance ceded | | 1 | | | (1) | | | | | | Net universal life and investment-type product policy fees | | $ | 14 | | | $ | 8 | | | | | | Other revenues | | | | | | | | | Reinsurance assumed | | $ | 26 | | | $ | 25 | | | | | | Reinsurance ceded | | 112 | | | 112 | | | | | | Net other revenues | | $ | 138 | | | $ | 137 | | | | | | Policyholder benefits and claims | | | | | | | | | Reinsurance assumed | | $ | 8 | | | $ | 10 | | | | | | Reinsurance ceded | | (91) | | | (89) | | | | | | Net policyholder benefits and claims | | $ | (83) | | | $ | (79) | | | | | | | Policyholder liability remeasurement (gains) losses | | | | | | | | | | Reinsurance assumed | | $ | — | | | $ | (1) | | | | | | | Reinsurance ceded | | 3 | | | (1) | | | | | | | Net policyholder liability remeasurement (gains) losses | | $ | 3 | | | $ | (2) | | | | | | Interest credited to PABs | | | | | | | | | Reinsurance assumed | | $ | 82 | | | $ | 86 | | | | | | Reinsurance ceded | | (2) | | | (2) | | | | | | Net interest credited to PABs | | $ | 80 | | | $ | 84 | | | | | | Other expenses | | | | | | | | | Reinsurance assumed | | $ | 145 | | | $ | 11 | | | | | | Reinsurance ceded | | 51 | | | (21) | | | | | | Net other expenses | | $ | 196 | | | $ | (10) | | | | | |
Information regarding the significant effects of affiliated reinsurance on the interim condensed consolidated balance sheets was as follows at: | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | Assumed | | Ceded | | Assumed | | Ceded | | (In millions) | | Assets | | | | | | | | Premiums, reinsurance and other
receivables (1) | $ | 148 | | | $ | 10,952 | | | $ | 146 | | | $ | 11,017 | | DAC and VOBA | 117 | | | (147) | | | 122 | | | (149) | | Total assets | $ | 265 | | | $ | 10,805 | | | $ | 268 | | | $ | 10,868 | | | Liabilities | | | | | | | | FPBs | $ | 1,885 | | | $ | — | | | $ | 1,941 | | | $ | — | | PABs | 8,269 | | | — | | | 8,441 | | | — | | | Other policy-related balances | 66 | | | (57) | | | 69 | | | (55) | | | Other liabilities | 979 | | | 9,380 | | | 934 | | | 9,582 | | Total liabilities | $ | 11,199 | | | $ | 9,323 | | | $ | 11,385 | | | $ | 9,527 | |
__________________ (1)Includes affiliated ceded PABs and FPBs.
|