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Reinsurance
 12 Months Ended
Dec. 31, 2024
Reinsurance Disclosures [Abstract]  
Reinsurance Reinsurance
The Company utilizes reinsurance agreements primarily to: (a) reduce required capital and (b) facilitate the acquisition or disposition of certain insurance contracts. Ceded reinsurance agreements permit the Company to recover a portion of its losses from reinsurers, although they do not discharge the Company’s primary liability as the direct insurer of the risks reinsured.

In January 2025, the Company entered into three four-year reinsurance agreements with an unrelated reinsurer that allow it to reduce required capital and provide collateralized excess of loss reinsurance coverage on a portion of the Health Care Benefits segment’s group Commercial Insured business.

Reinsurance recoverables (recorded as other current assets or other assets on the consolidated balance sheets) at December 31, 2024 and 2023 were as follows:
In millions20242023
Reinsurer
Hartford Life and Accident Insurance Company$1,119 $1,314 
Lincoln Life & Annuity Company of New York444 480 
Individual State Reinsurance Programs
189 61 
Fresenius Medical Care Reinsurance Company (Cayman) Ltd. 75 54 
Resolution Life Group Holdings Ltd.33 35 
All Other67 54 
Total$1,927 $1,998 
Direct, assumed and ceded premiums earned for the years ended December 31, 2024, 2023 and 2022 were as follows:
In millions202420232022
Direct$123,629 $99,753 $85,670 
Assumed471 350 432 
Ceded(1,204)(911)(772)
Net premiums$122,896 $99,192 $85,330 

The impact of reinsurance on health care costs for the years ended December 31, 2024, 2023 and 2022 was as follows:
In millions202420232022
Direct$115,974 $86,738 $71,357 
Assumed431 223 379 
Ceded(1,284)(714)(663)
Net health care costs
$115,121 $86,247 $71,073 

There is not a material difference between premiums on a written basis versus an earned basis.

The Company also has various agreements with unrelated reinsurers that do not qualify for reinsurance accounting under GAAP, and consequently are accounted for using deposit accounting. The Company entered into these contracts to reduce the risk of catastrophic loss which in turn reduces the Company’s capital and surplus requirements. Total deposit assets and liabilities related to reinsurance agreements that do not qualify for reinsurance accounting under GAAP were not material as of December 31, 2024 or 2023.