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Reinsurance | 12 Months Ended
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Dec. 31, 2022
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 2023, the Company entered into two 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, 2022 and 2021 were as follows:
In millions | 2022 |  | 2021
Reinsurer |  |  |
Hartford Life and Accident Insurance Company | $ | 1,549 |  |  | $ | 1,902 |
Lincoln Life & Annuity Company of New York | 385 |  |  | 395 |
VOYA Retirement Insurance and Annuity Company | 159 |  |  | 167 |
Fresenius Medical Care Reinsurance Company (Cayman) Ltd. | 102 |  |  | 46 |
All Other | 55 |  |  | 54 |
Total | $ | 2,250 |  |  | $ | 2,564 |
Direct, assumed and ceded premiums earned for the years ended December 31, 2022, 2021 and 2020 were as follows:
In millions | 2022 |  | 2021 |  | 2020
Direct | $ | 85,670 |  |  | $ | 76,320 |  |  | $ | 69,711 |
Assumed | 432 |  |  | 492 |  |  | 478 |
Ceded | (772) |  |  | (680) |  |  | (825) |
Net premiums | $ | 85,330 |  |  | $ | 76,132 |  |  | $ | 69,364 |
The impact of reinsurance on benefit costs for the years ended December 31, 2022, 2021 and 2020 were as follows:
In millions | 2022 |  | 2021 |  | 2020
Direct | $ | 71,357 |  |  | $ | 64,339 |  |  | $ | 56,077 |
Assumed | 379 |  |  | 398 |  |  | 329 |
Ceded | (663) |  |  | (549) |  |  | (727) |
Net benefit costs | $ | 71,073 |  |  | $ | 64,188 |  |  | $ | 55,679 |
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, 2022 or 2021.

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- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=99379264&loc=d3e27830-158548 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=99397103&loc=d3e6811-158387 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI https://asc.fasb.org/topic&trid=2303980 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=99397103&loc=d3e6816-158387 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=99379264&loc=d3e27758-158548 + Details
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