REINSURANCE (Tables)

12 Months Ended

Dec. 31, 2012

REINSURANCE

Schedule of net life insurance in-force

	For The Year Ended December 31,
	2012			2011			2010
	(Dollars In Millions)
Direct life insurance in-force	$	706,416		$	728,670		$	753,519
Amounts assumed from other companies	30,470			32,813			18,799
Amounts ceded to other companies	(444,951		)	(469,530		)	(495,056		)
Net life insurance in-force	$	291,935		$	291,953		$	277,262
Percentage of amount assumed to net	10		%	11		%	7		%

Schedule of effect of reinsurance on life insurance premiums written and earned

	For The Year Ended December 31,
	2012			2011			2010
	(Dollars In Millions)
Direct premiums	$	2,227		$	2,245		$	2,153
Reinsurance assumed	282			248			167
Reinsurance ceded	(1,229		)	(1,278		)	(1,284		)
Net premiums(1)	$	1,280		$	1,215		$	1,036
Percentage of amount assumed to net	22		%	20		%	16		%

(1)Includes annuity policy fees of $103.8 million, $74.9 million, and $43.4 million for the years ended December 31, 2012, 2011, and 2010, respectively.

Schedule of receivables attributable to more significant reinsurance partners

	As of December 31,
	2012			2011
	Reinsurance		A.M. Best	Reinsurance		A.M. Best
	Receivable		Rating	Receivable		Rating
	(Dollars In Millions)
Security Life of Denver Insurance Co.	$	649.1	A	$	626.4	A
Swiss Re Life & Health America, Inc.	625.9		A+	624.4		A+
Lincoln National Life Insurance Co.	472.3		A+	479.4		A+
Transamerica Life Insurance Co.	425.5		A+	392.9		A+
American United Life Insurance Co.	321.3		A+	325.1		A+
Employers Reassurance Corp.	257.7		A-	290.2		A-
The Canada Life Assurance Company	219.8		A+	219.1		A+
RGA Reinsurance Co.	215.4		A+	228.2		A+
Scottish Re (U.S.), Inc.	180.5		NR(1)	179.9		NR(1)
XL Life Ltd.	179.6		A-	183.0		A-

(1)Scottish Re (U.S.), Inc. is not rated as of December 31, 2012 and 2011.