Cigna 2008 Annual Report Download - page 125
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105
In the Company’s consolidated income statements, premiums and fees were net of ceded premiums, and benefits and expenses were
net of reinsurance recoveries, in the following amounts:
(In millions) 2008 2007 2006
Premiums and Fees
Short-duration contracts:
Direct $ 14,050 $ 13,669 $ 12,333
Assumed 1,173 331 443
Ceded (243) (179) (181)
14,980 13,821 12,595
Long-duration contracts:
Direct 1,440 1,401 1,262
Assumed 51 68 74
Ceded:
Individual life insurance and annuity business sold (220) (230) (256)
Other (48) (52) (34)
1,223 1,187 1,046
Total $ 16,203 $ 15,008 $ 13,641
Reinsurance recoveries
Individual life insurance and annuity business sold $ 368 $ 323 $ 343
Other 282 106 181
Total $ 650 $ 429 $ 524
The increase in assumed premiums in 2008 primarily reflects the effect of the reinsurance assumed in connection with the acquisition
of Great-West Healthcare in 2008. The effects of reinsurance on written premiums and fees for short-duration contracts were not
materially different from the recognized premium and fee amounts shown in the above table.
Note 9 ― Goodwill and Other Intangibles
Substantially all goodwill relates to the Health Care segment. As a result of the acquisition of Great-West Healthcare in 2008, and
other minor acquisition in 2007, changes in the carrying value of goodwill were as follows:
(In millions) 2008 2007
Balance at January 1, $ 1,783 $ 1,736
Goodwill acquired:
Great-West Healthcare 1,095 -
Other - 47
Balance at December 31, $ 2,878 $ 1,783