Cigna 2009 Annual Report Download - page 144
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124
In the Company’s Consolidated Income Statements, Premiums and fees were presented net of ceded premiums, and Total benefits and
expenses were presented net of reinsurance recoveries, in the following amounts:
(In millions) 2009 2008 2007
Premiums and Fees
Short-duration contracts:
Direct $ 13,886 $ 13,969 $ 13,585
Assumed 1,076 1,221 329
Ceded (192) (242) (178)
14,770 14,948 13,736
Long-duration contracts:
Direct 1,499 1,521 1,485
Assumed 33 53 70
Ceded:
Individual life insurance and annuity business sold (209) (220) (230)
Other (52) (49) (53)
1,271 1,305 1,272
Total $ 16,041 $ 16,253 $ 15,008
Reinsurance recoveries
Individual life insurance and annuity business sold $ 322 $ 368 $ 323
Other 178 282 106
Total $ 500 $ 650 $ 429
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.