Travelers 2003 Annual Report Download - page 118
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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