Aetna 2014 Annual Report Download - page 144

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Annual Report- Page 138
The liability expected at December 31, 1993 and actual liability balances at December 31, 2014, 2013 and 2012 for
the GIC and SPA liabilities were as follows:
Expected Actual
(Millions) GIC SPA GIC SPA
2012 $ 16.1 $ 2,615.4 $ 6.6 $ 2,857.6
2013 15.7 2,448.9 — 2,804.8
2014 12.0 2,281.0 — 2,645.8
The GIC balances were lower than expected in each period because several contract holders redeemed their
contracts prior to contract maturity. The SPA balances in each period were higher than expected because of
additional amounts received under existing contracts.
The distributions on our discontinued products consisted of scheduled contract maturities, settlements and benefit
payments of $377.9 million, $391.5 million and $399.5 million for the years ended December 31, 2014, 2013 and
2012, respectively. Participant-directed withdrawals from our discontinued products were not significant in the
years ended ended December 31, 2014, 2013 or 2012. Cash required to fund these distributions was provided by
earnings and scheduled payments on, and sales of, invested assets.
21. Subsequent Events
On February 27, 2015, our Board declared a cash dividend of $.25 per share that will be paid on April 24, 2015 to
shareholders of record at the close of business on April 9, 2015.
In January 2015, we entered into three-year reinsurance agreements with Vitality Re VI Limited, an unrelated
insurer. The agreements allow us to reduce our required capital and provide $200 million of collateralized excess of
loss reinsurance coverage on a portion of Aetna’s group Commercial Insured Health Care business. The Company’s
similar reinsurance agreements with Vitality Re III Limited expired in January 2015.