### Question
What does net premiums mean?


### Answer
**Net premiums** has the following meaning in *26 U.S.C. § 834*:

> gross premiums (including deposits and assessments) written or received on insurance contracts during the taxable year less return premiums and premiums paid or incurred for reinsurance

#### Citation:
  - *26 U.S.C. § 834*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter L-Insurance Companies > PART II-OTHER INSURANCE COMPANIES**

