v3.24.0.1
Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2023
Insurance [Abstract]  
Summary of Effects of Reinsurance
The following summarizes the effect of reinsurance on premiums and future policy and other policy benefits on the consolidated statements of operations:

Years ended December 31,
(In millions)20232022
Premiums
Direct$10,525 $11,373 
Reinsurance assumed2,313 377 
Reinsurance ceded(89)(112)
Total premiums$12,749 $11,638 
Future policy and other policy benefits
Direct$12,321 $12,142 
Reinsurance assumed2,389 416 
Reinsurance ceded(276)(93)
Total future policy and other policy benefits$14,434 $12,465 
Summary of Reinsurance Transactions The following summarizes the block reinsurance agreement at inception:
(In millions)Year ended December 31, 2023
Liabilities assumed$1,975 
Less: Assets received2,158 
Deferred profit liability1
$(183)
1 Included within future policy benefits on the consolidated statements of financial condition.
Summary of Reinsurance Recoverables
The following summarizes reinsurance recoverable balances:

December 31,
(In millions)20232022
Global Atlantic$2,435 $2,452 
Protective1,559 1,581 
Brighthouse Financial50 226 
Other1
110 99 
Reinsurance recoverable$4,154 $4,358 
1 Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of the total recoverable.