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Reinsurance
 12 Months Ended
Dec. 31, 2023
Reinsurance Disclosures [Abstract]  
Reinsurance Reinsurance
The Company utilizes reinsurance agreements primarily to: (a) reduce required capital and (b) facilitate the acquisition or disposition of certain insurance contracts. Ceded reinsurance agreements permit the Company to recover a portion of its losses from reinsurers, although they do not discharge the Company’s primary liability as the direct insurer of the risks reinsured.

In January 2024, the Company entered into two four-year reinsurance agreements with an unrelated reinsurer that allow it to reduce required capital and provide collateralized excess of loss reinsurance coverage on a portion of the Health Care Benefits segment’s group Commercial Insured business.
Reinsurance recoverables (recorded as other current assets or other assets on the consolidated balance sheets) at December 31, 2023 and 2022 were as follows:
In millions20232022
Reinsurer
Hartford Life and Accident Insurance Company$1,314 $1,549 
Lincoln Life & Annuity Company of New York480 385 
VOYA Retirement Insurance and Annuity Company — 159 
Fresenius Medical Care Reinsurance Company (Cayman) Ltd. 54 102 
Resolution Life Group Holdings Ltd.35 — 
All Other115 55 
Total$1,998 $2,250 

Direct, assumed and ceded premiums earned for the years ended December 31, 2023, 2022 and 2021 were as follows:
In millions202320222021
Direct$99,753 $85,670 $76,320 
Assumed350 432 492 
Ceded(911)(772)(680)
Net premiums$99,192 $85,330 $76,132 

The impact of reinsurance on benefit costs for the years ended December 31, 2023, 2022 and 2021 was as follows:
In millions202320222021
Direct$86,738 $71,357 $64,339 
Assumed223 379 398 
Ceded(714)(663)(549)
Net benefit costs$86,247 $71,073 $64,188 

There is not a material difference between premiums on a written basis versus an earned basis.

The Company also has various agreements with unrelated reinsurers that do not qualify for reinsurance accounting under GAAP, and consequently are accounted for using deposit accounting. The Company entered into these contracts to reduce the risk of catastrophic loss which in turn reduces the Company’s capital and surplus requirements. Total deposit assets and liabilities related to reinsurance agreements that do not qualify for reinsurance accounting under GAAP were not material as of December 31, 2023 or 2022.