Travelers 2003 Annual Report Download - page 118

Download and view the complete annual report

Please find page 118 of the 2003 Travelers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

116
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
6. REINSURANCE, Continued
A summary of reinsurance financial data reflected within the consolidated statement of income is presented
below:
(for the year ended December 31, in millions) 2003 2002 2001
Written premiums
Direct $ 14,976.6 $ 13,468.3 $ 10,995.3
Assumed from:
Formerly affiliated companies (1.7) 82.9 143.7
Non-affiliated companies 499.8 524.0 529.4
Ceded to:
Formerly affiliated companies (111.3) (118.4) (120.0)
Non-affiliated companies (2,162.6) (2,012.3) (1,702.9)
Total net written premiums $ 13,200.8 $ 11,944.5 $ 9,845.5
Earned premiums
Direct $ 14,323.8 $ 12,525.1 $ 10,460.1
Assumed from:
Formerly affiliated companies 20.8 109.3 181.1
Non-affiliated companies 477.4 562.1 596.0
Ceded to:
Formerly affiliated companies (120.5) (116.1) (113.0)
Non-affiliated companies (2,156.1) (1,925.1) (1,713.3)
Total net earned premiums $ 12,545.4 $ 11,155.3 $ 9,410.9
Percentage of amount assumed to net earned 4.0% 6.0% 8.3%
Ceded claims incurred $ 2,333.4 $ 2,111.6 $ 1,844.5