Reinsurance

3 Months Ended

Mar. 31, 2012

Reinsurance

Reinsurance

7.Reinsurance

The effects of reinsurance on premiums and contract charges for the three months ended March 31 are as follows:

($ in millions)		2012		2011
Direct	$	535	$	573
Assumed
Affiliate		28		28
Non-affiliate		5		5
Ceded--non-affiliate		(167)		(188)
Premiums and contract charges, net of reinsurance	$	401	$	418

The effects of reinsurance on contract benefits for the three months ended March 31 are as follows:

($ in millions)		2012		2011
Direct	$	402	$	436
Assumed
Affiliate		18		20
Non-affiliate		5		4
Ceded--non-affiliate		(61)		(78)
Contract benefits, net of reinsurance	$	364	$	382

The effects of reinsurance on interest credited to contractholder funds for the three months ended March 31 are as follows:

($ in millions)		2012		2011
Direct	$	374	$	410
Assumed
Affiliate		2		3
Non-affiliate		2		3
Ceded--non-affiliate		(7)		(8)
Interest credited to contractholder funds, net of reinsurance	$	371	$	408