Statements of Cash Flows
STATE COMPENSATION INSURANCE FUND
Statements of Cash Flows
(Statutory Basis)
Years ended December 31, 2010 and 2009
(In millions)
| 2010 | 2009 | ||
|---|---|---|---|
| Premiums collected net of reinsurance | $ | 1,082 | 1,204 |
| Net investment income | 916 | 962 | |
| Recoveries from premiums charged off | 13 | 16 | |
| Benefits and loss related payments | (1,530) | (1,590) | |
| Other underwriting expenses | (872) | (969) | |
| Net cash used in operations | (391) | (377) | |
| Proceeds from investments sold, matured, or repaid: | |||
| Bonds | 3,796 | 4,358 | |
| Cost of investments acquired: | |||
| Bonds | (2,907) | (5,131) | |
| Real estate | (9) | (15) | |
| Net cash provided by (used in) investments | 880 | (788) | |
| Other cash provided | 71 | 92 | |
| Net cash provided by financing and miscellaneous sources | 71 | 92 | |
| Net change in cash, cash equivalents and short-term investments | 560 | (1,073) | |
| Cash, cash equivalents and short-term investments, beginning of year | 467 | 1,540 | |
| Cash, cash equivalents and short-term investments, end of year | $ | 1,027 | 467 |
