Reinsurance (Tables)

9 Months Ended

Sep. 30, 2011

Earned Consolidated Property Casualty Insurance Premiums on Assumed and Ceded Business

Our condensed consolidated statements of income include earned consolidated property casualty insurance premiums on assumed and ceded business:

(In millions)	Three months ended September 30,						Nine months ended September 30,
	2011			2010			2011			2010
Direct earned premiums	$	817		$	782		$	2,404		$	2,295
Assumed earned premiums		3			3			10			8
Ceded earned premiums		(51	)		(42	)		(170	)		(124	)
Net earned premiums	$	769		$	743		$	2,244		$	2,179

Incurred Consolidated Property Casualty Insurance Loss and Loss Expenses on Assumed and Ceded Business

Our condensed consolidated statements of income include incurred consolidated property casualty insurance loss and loss expenses on assumed and ceded business:

(In millions)	Three months ended September 30,						Nine months ended September 30,
	2011			2010			2011			2010
Direct incurred loss and loss expenses	$	649		$	549		$	2,157		$	1,526
Assumed incurred loss and loss expenses		8			3			28			8
Ceded incurred loss and loss expenses		(50	)		(21	)		(291	)		23
Net incurred loss and loss expenses	$	607		$	531		$	1,894		$	1,557

Earned Life Insurance Premiums on Ceded Business

Our condensed consolidated statements of income include earned life insurance premiums on ceded business:

(In millions)	Three months ended September 30,						Nine months ended September 30,
	2011			2010			2011			2010
Direct earned premiums	$	57		$	53		$	162		$	157
Assumed earned premiums		-			-			-			-
Ceded earned premiums		(14	)		(12	)		(39	)		(37	)
Net earned premiums	$	43		$	41		$	123		$	120

Life Insurance Contract Holders' Benefits Incurred on Ceded Business

Our condensed consolidated statements of income include life insurance contract holders’ benefits incurred on ceded business:

(In millions)	Three months ended September 30,						Nine months ended September 30,
	2011			2010			2011			2010
Direct contract holders' benefits incurred	$	58		$	59		$	167		$	173
Assumed contract holders' benefits incurred		-			-			-			-
Ceded contract holders' benefits incurred		(9	)		(15	)		(29	)		(44	)
Net incurred loss and loss expenses	$	49		$	44		$	138		$	129