Reinsurance (Tables)

9 Months Ended

Sep. 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:

	Three months ended September 30,						Nine months ended September 30,
(In millions)	2012			2011			2012			2011
Direct earned premiums	$	898		$	817		$	2,605		$	2,404
Assumed earned premiums		1			3			7			10
Ceded earned premiums		(48	)		(51	)		(137	)		(170	)
Net earned premiums	$	851		$	769		$	2,475		$	2,244

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

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

	Three months ended September 30,						Nine months ended September 30,
(In millions)	2012			2011			2012			2011
Direct incurred loss and loss expenses	$	562		$	649		$	1,745		$	2,157
Assumed incurred loss and loss expenses		(3	)		8			3			28
Ceded incurred loss and loss expenses		(34	)		(50	)		(44	)		(291	)
Net incurred loss and loss expenses	$	525		$	607		$	1,704		$	1,894

Earned Life Insurance Premiums on Ceded Business

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

	Three months ended September 30,						Nine months ended September 30,
(In millions)	2012			2011			2012			2011
Direct earned premiums	$	52		$	57		$	170		$	162
Assumed earned premiums		-			-			-			-
Ceded earned premiums		(14	)		(14	)		(40	)		(39	)
Net earned premiums	$	38		$	43		$	130		$	123

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:

	Three months ended September 30,						Nine months ended September 30,
(In millions)	2012			2011			2012			2011
Direct contract holders' benefits incurred	$	62		$	58		$	172		$	167
Assumed contract holders' benefits incurred		-			-			-			-
Ceded contract holders' benefits incurred		(16	)		(9	)		(36	)		(29	)
Net incurred loss and loss expenses	$	46		$	49		$	136		$	138