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Other Income: Other Income in FY 2012 operating income increased to $97 million from $40 million in FY 2011, primarily due to commutation gains related to the reassumption of previously ceded books of business from two reinsurers.
8 percent in the first half of 2003, primarily due to lower ceding commission income that resulted from the portfolio reassumptions and cessions in the first quarter.
Due to lower premiums written and advisory fees in the first quarter as well as the effect of portfolio reassumptions and cessions, the statutory expense ratio for insurance operations increased to 35.