U-Haul 2009 Annual Report Download - page 89

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Note 17: 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, 2008
Life insurance in force $ 387,783 $ 4,499 $ 1,147,982 $ 1,531,266 75%
Premiums earned:
Life $ 16,240 $ 36 $ 5,020 $ 21,224 24%
Accident and health 81,241 1,066 4,581 84,756 5%
Annuity 1,436 - 2,156 3,592 60%
Property and casualty 19,253 83 9,167 28,337 32%
Total $ 118,170 $ 1,185 $ 20,924 $ 137,909
Year ended December 31, 2007
Life insurance in force $ 328,384 $ 4,682 $ 1,428,242 $ 1,751,944 82%
Premiums earned:
Life $ 10,669 $ 35 $ 4,823 $ 15,457 31%
Accident and health 88,658 1,230 5,155 92,583 6%
Annuity 545 - 3,411 3,956 86%
Property and casualty 19,373 39 9,054 28,388 32%
Total $ 119,245 $ 1,304 $ 22,443 $ 140,384
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
(In thousands)
(a) Balances are reported net of inter-segment transactions.
F-34