REINSURANCE (Tables)

12 Months Ended

Dec. 31, 2011

REINSURANCE

Schedule of net life insurance in-force

	For The Year Ended December 31,
	2011			2010			2009
	(Dollars In Millions)
Direct life insurance in-force	$	728,670		$	753,519		$	755,263
Amounts assumed from other companies		32,813			18,799			19,826
Amounts ceded to other companies		(469,530	)		(495,056	)		(515,136	)
Net life insurance in-force	$	291,953		$	277,262		$	259,953
Percentage of amount assumed to net		11	%		7	%		8	%

Schedule of effect of reinsurance on life insurance premiums written and earned

	For The Year Ended December 31,
	2011			2010			2009
	(Dollars In Millions)
Direct premiums	$	2,245		$	2,153		$	2,146
Reinsurance assumed		248			167			97
Reinsurance ceded		(1,278	)		(1,284	)		(1,318	)
Net premiums(1)	$	1,215		$	1,036		$	925
Percentage of amount assumed to net		20	%		16	%		11	%

⁽¹⁾

Includes annuity policy fees of $74.9 million, $43.4 million, and $34.9 million for the years ended December 31, 2011, 2010, and 2009, respectively.

Schedule of receivables attributable to more significant reinsurance partners

	As of December 31,
	2011			2010
	Reinsurance Receivable		A.M. Best Rating	Reinsurance Receivable		A.M. Best Rating
	(Dollars In Millions)
Security Life of Denver Insurance Co.	$	626.4	A	$	609.1	A
Swiss Re Life & Health America, Inc.		624.4	A+		612.3	A
Lincoln National Life Insurance Co.		479.4	A+		460.7	A+
Transamerica Life Insurance Co.		392.9	A+		428.0	A+
American United Life Insurance Co.		325.1	A+		324.5	A
Employers Reassurance Corp.		290.2	A-		302.8	A-
RGA Reinusrance Co.		228.2	A+		221.2	A+
The Canada Life Assurance Company		219.1	A+		216.4	A+
XL Life Ltd.		183.0	A-		180.4	A-
Scottish Re (U.S.), Inc.		179.9	NR(1)		197.5	E

⁽¹⁾

Scottish Re (U.S.), Inc. is not rated as of December 31, 2011.