U-Haul 2007 Annual Report Download - page 100
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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Note 15: Reinsurance and Policy Benefits and Losses, Claims and Loss Expenses Payable
During their normal course of business, our insurance subsidiaries assume and cede reinsurance on both a coinsurance
and a risk premium basis. They also obtain reinsurance for that portion of risks exceeding their retention limits. The
maximum amount of life insurance retained on any one life is $150,000.
Direct
Amount (a)
Ceded to
Other
Companies
Assumed
from Other
Companies
Net
Amount (a)
Percentage of
Amount
Assumed to Net
Year ended December 31, 2006
Life insurance in force $ 393,400 $ 5,662 $ 1,483,250 $ 1,870,988 79%
Premiums earned:
Life $ 9,569 $ 315 $ 4,980 $ 14,234 35%
Accident and health 96,285 1,390 6,234 101,129 6%
Annuity 2,558 - 2,478 5,036 49%
Property and casualty 18,710 2,220 7,845 24,335 32%
Total $ 127,122 $ 3,925 $ 21,537 $ 144,734
Year ended December 31, 2005
Life insurance in force $ 586,835 $ 120,220 $ 1,642,876 $ 2,109,491 78%
Premiums earned:
Life $ 8,708 $ 1,862 $ 7,211 $ 14,057 51%
Accident and health 91,986 1,887 10,071 100,170 10%
Annuity 2,174 - 2,432 4,606 53%
Property and casualty 22,559 3,288 6,730 26,001 26%
Total $ 125,427 $ 7,037 $ 26,444 $ 144,834
Year ended December 31, 2004
Life insurance in force $ 1,147,380 $ 336,575 $ 1,785,441 $ 2,596,246 69%
Premiums earned:
Life $ 9,372 $ 6,106 $ 8,365 $ 11,631 72%
Accident and health 99,402 6,715 17,726 110,413 16%
Annuity 1,901 - 2,291 4,192 55%
Property and casualty 29,965 10,235 5,257 24,987 21%
Total $ 140,640 $ 23,056 $ 33,639 $ 151,223
(In thousands)
(a) Balances are reported net of inter-segment transactions.
F-35