Reinsurance

6 Months Ended

Jun. 30, 2013

Reinsurance

Reinsurance

6.  Reinsurance

The effects of reinsurance on premiums and contract charges are as follows:

($ in millions)		Three months ended June 30,				Six months ended June 30,
		2013		2012		2013		2012
Direct	$	520	$	536	$	1,035	$	1,071
Assumed
Affiliate		31		29		61		57
Non-affiliate		17		4		34		9
Ceded-non-affiliate		(158)		(161)		(311)		(328)
Premiums and contract charges, net of reinsurance	$	410	$	408	$	819	$	809

The effects of reinsurance on contract benefits are as follows:

($ in millions)		Three months ended June 30,				Six months ended June 30,
		2013		2012		2013		2012
Direct	$	441	$	499	$	871	$	901
Assumed
Affiliate		18		17		40		35
Non-affiliate		12		5		25		10
Ceded-non-affiliate		(75)		(133)		(159)		(194)
Contract benefits, net of reinsurance	$	396	$	388	$	777	$	752

The effects of reinsurance on interest credited to contractholder funds are as follows:

($ in millions)		Three months ended June 30,				Six months ended June 30,
		2013		2012		2013		2012
Direct	$	302	$	360	$	637	$	734
Assumed
Affiliate		3		3		5		5
Non-affiliate		8		4		15		6
Ceded-non-affiliate		(9)		(7)		(14)		(14)
Interest credited to contractholder funds, net of reinsurance	$	304	$	360	$	643	$	731