Reinsurance (Tables)

12 Months Ended

Dec. 31, 2011

Earned Consolidated Property Casualty Insurance Premiums on Assumed and Ceded Business

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

	Years ended December 31,
(In millions)	2011			2010			2009
Direct earned premiums	$	3,236		$	3,080		$	3,068
Assumed earned premiums		12			10			12
Ceded earned premiums		(219	)		(166	)		(169	)
Net earned premiums	$	3,029		$	2,924		$	2,911

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

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

	Years ended December 31,
(In millions)	2011			2010			2009
Direct incurred loss and loss expenses	$	2,588		$	2,003		$	2,135
Assumed incurred loss and loss expenses		24			11			10
Ceded incurred loss and loss expenses		(277	)		(4	)		(63	)
Net incurred loss and loss expenses	$	2,335		$	2,010		$	2,082

Earned Life Insurance Premiums on Ceded Business

coverage in excess of certain deductibles. Our consolidated statements of income include earned life insurance premiums on assumed and ceded business:

	Years ended December 31,
(In millions)	2011			2010			2009
Direct earned premiums	$	220		$	211		$	196
Assumed earned premiums		-			-			-
Ceded earned premiums		(55	)		(53	)		(53	)
Net earned premiums	$	165		$	158		$	143

Life Insurance Contract Holders' Benefits Incurred on Ceded Business

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

	Years ended December 31,
(In millions)	2011			2010			2009
Direct contract holders' benefits incurred	$	232		$	233		$	201
Assumed contract holders' benefits incurred		-			-			-
Ceded contract holders' benefits incurred		(43	)		(63	)		(41	)
Net incurred loss and loss expenses	$	189		$	170		$	160