Reinsurance (Tables)

6 Months Ended

Jun. 30, 2012

Earned Consolidated Property Casualty Insurance Premiums on Assumed and Ceded Business

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

(In millions)	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
Direct earned premiums	$	868		$	807		$	1,707		$	1,587
Assumed earned premiums		3			2			6			7
Ceded earned premiums		(45	)		(79	)		(89	)		(119	)
Net earned premiums	$	826		$	730		$	1,624		$	1,475

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

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

(In millions)	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
Direct incurred loss and loss expenses	$	647		$	981		$	1,183		$	1,508
Assumed incurred loss and loss expenses		1			5			6			20
Ceded incurred loss and loss expenses		(8	)		(229	)		(10	)		(241	)
Net incurred loss and loss expenses	$	640		$	757		$	1,179		$	1,287

Earned Life Insurance Premiums on Ceded Business

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

(In millions)	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
Direct earned premiums	$	64		$	55		$	118		$	105
Assumed earned premiums		-			-			-			-
Ceded earned premiums		(13	)		(12	)		(26	)		(25	)
Net earned premiums	$	51		$	43		$	92		$	80

Life Insurance Contract Holders' Benefits Incurred on Ceded Business

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

(In millions)	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
Direct contract holders' benefits incurred	$	57		$	56		$	110		$	109
Assumed contract holders' benefits incurred		-			-			-			-
Ceded contract holders' benefits incurred		(10	)		(12	)		(20	)		(20	)
Net incurred loss and loss expenses	$	47		$	44		$	90		$	89