Investments (Tables)

9 Months Ended

Sep. 30, 2012

Schedule Of Amortized Cost And Fair Value Of Fixed Maturities And Related OTTI Recognized In AOCI

	September 30, 2012
	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
	(in millions of U.S. dollars)
Available for sale
U.S. Treasury and agency	$	3,357	$	197	$	—		$	3,554	$	—
Foreign	13,241		750		(24		)	13,967		(1		)
Corporate securities	14,677		1,192		(36		)	15,833		(12		)
Mortgage-backed securities	10,227		545		(36		)	10,736		(88		)
States, municipalities, and political subdivisions	2,256		159		(1		)	2,414		—
	$	43,758	$	2,843	$	(97	)	$	46,504	$	(101	)
Held to maturity
U.S. Treasury and agency	$	1,084	$	45	$	—		$	1,129	$	—
Foreign	919		52		(1		)	970		—
Corporate securities	2,182		140		—			2,322		—
Mortgage-backed securities	2,222		108		—			2,330		—
States, municipalities, and political subdivisions	1,086		46		(4		)	1,128		—
	$	7,493	$	391	$	(5	)	$	7,879	$	—
	December 31, 2011
	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
	(in millions of U.S. dollars)
Available for sale
U.S. Treasury and agency	$	2,774	$	186	$	—		$	2,960	$	—
Foreign	12,025		475		(99		)	12,401		(2		)
Corporate securities	14,055		773		(135		)	14,693		(22		)
Mortgage-backed securities	9,979		397		(175		)	10,201		(151		)
States, municipalities, and political subdivisions	1,617		96		(1		)	1,712		—
	$	40,450	$	1,927	$	(410	)	$	41,967	$	(175	)
Held to maturity
U.S. Treasury and agency	$	1,078	$	48	$	—		$	1,126	$	—
Foreign	935		18		(23		)	930		—
Corporate securities	2,338		44		(45		)	2,337		—
Mortgage-backed securities	2,949		90		(3		)	3,036		—
States, municipalities, and political subdivisions	1,147		32		(3		)	1,176		—
	$	8,447	$	232	$	(74	)	$	8,605	$	—

Schedule Of Fixed Maturities By Contractual Maturity

	September 30, 2012				December 31, 2011
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(in millions of U.S. dollars)
Available for sale
Due in 1 year or less	$	2,210	$	2,231	$	2,321	$	2,349
Due after 1 year through 5 years	12,591		13,174		12,325		12,722
Due after 5 years through 10 years	14,699		15,852		12,379		12,995
Due after 10 years	4,031		4,511		3,446		3,700
	33,531		35,768		30,471		31,766
Mortgage-backed securities	10,227		10,736		9,979		10,201
	$	43,758	$	46,504	$	40,450	$	41,967
Held to maturity
Due in 1 year or less	$	676	$	681	$	393	$	396
Due after 1 year through 5 years	1,839		1,914		2,062		2,090
Due after 5 years through 10 years	2,118		2,272		2,376		2,399
Due after 10 years	638		682		667		684
	5,271		5,549		5,498		5,569
Mortgage-backed securities	2,222		2,330		2,949		3,036
	$	7,493	$	7,879	$	8,447	$	8,605

Schedule Of Cost And Fair Value Of Equity Securities

	September 30			December 31
	2012			2011
	(in millions of U.S. dollars)
Cost	$	741		$	671
Gross unrealized appreciation	34			18
Gross unrealized depreciation	(5		)	(42		)
Fair value	$	770		$	647

Schedule Of Net Realized Gains (Losses) And The Losses Included In Net Realized Gains (Losses) And OCI

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2012			2011			2012			2011
	(in millions of U.S. dollars)
Fixed maturities:
OTTI on fixed maturities, gross	$	(10	)	$	(30	)	$	(18	)	$	(41	)
OTTI on fixed maturities recognized in OCI (pre-tax)	—			11			—			13
OTTI on fixed maturities, net	(10		)	(19		)	(18		)	(28		)
Gross realized gains excluding OTTI	71			92			287			309
Gross realized losses excluding OTTI	(14		)	(53		)	(120		)	(138		)
Total fixed maturities	47			20			149			143
Equity securities:
OTTI on equity securities	—			(1		)	(5		)	(1		)
Gross realized gains excluding OTTI	3			—			5			12
Gross realized losses excluding OTTI	(1		)	(1		)	(2		)	(2		)
Total equity securities	2			(2		)	(2		)	9
OTTI on other investments	—			—			(7		)	(3		)
Foreign exchange gains (losses)	(50		)	20			(64		)	(89		)
Investment and embedded derivative instruments	4			(89		)	(3		)	(157		)
Fair value adjustments on insurance derivative	83			(926		)	44			(925		)
S&P put options and futures	(147		)	220			(308		)	152
Other derivative instruments	—			2			(4		)	(1		)
Other	1			(5		)	1			(7		)
Net realized gains (losses)	$	(60	)	$	(760	)	$	(194	)	$	(878	)

Schedule Of Roll-Forward Of Pre-Tax Credit Losses Related To Fixed Maturities For Which A Portion Of OTTI Was Recognized In OCI

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2012			2011			2012			2011
	(in millions of U.S. dollars)
Balance of credit losses related to securities still held – beginning of period	$	47		$	94		$	74		$	137
Additions where no OTTI was previously recorded	1			6			3			8
Additions where an OTTI was previously recorded	6			3			11			4
Reductions for securities sold during the period	(4		)	(24		)	(38		)	(70		)
Balance of credit losses related to securities still held – end of period	$	50		$	79		$	50		$	79

Schedule Of Aggregate Fair Value And Gross Unrealized Loss By Length Of Time The Security Has Continuously Been In An Unrealized Loss Position

	0 – 12 Months					Over 12 Months					Total
	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
	(in millions of U.S. dollars)
September 30, 2012
Foreign	$	839	$	(14.8	)	$	186	$	(9.7	)	$	1,025	$	(24.5	)
Corporate securities	663		(20.1		)	195		(15.5		)	858		(35.6		)
Mortgage-backed securities	225		(1.3		)	412		(35.0		)	637		(36.3		)
States, municipalities, and political subdivisions	29		(1.3		)	59		(4.0		)	88		(5.3		)
Total fixed maturities	1,756		(37.5		)	852		(64.2		)	2,608		(101.7		)
Equity securities	543		(5.4		)	—		—			543		(5.4		)
Other investments	113		(6.3		)	—		—			113		(6.3		)
Total	$	2,412	$	(49.2	)	$	852	$	(64.2	)	$	3,264	$	(113.4	)

	0 – 12 Months					Over 12 Months					Total
	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
	(in millions of U.S. dollars)
December 31, 2011
Foreign	$	1,801	$	(82.2	)	$	529	$	(40.0	)	$	2,330	$	(122.2	)
Corporate securities	3,084		(148.2		)	268		(32.2		)	3,352		(180.4		)
Mortgage-backed securities	440		(7.5		)	586		(170.2		)	1,026		(177.7		)
States, municipalities, and political subdivisions	30		(0.4		)	98		(3.5		)	128		(3.9		)
Total fixed maturities	5,355		(238.3		)	1,481		(245.9		)	6,836		(484.2		)
Equity securities	484		(42.3		)	—		—			484		(42.3		)
Other investments	88		(8.3		)	—		—			88		(8.3		)
Total	$	5,927	$	(288.9	)	$	1,481	$	(245.9	)	$	7,408	$	(534.8	)

Schedule Of Components Of Restricted Assets

	September 30		December 31
	2012		2011
	(in millions of U.S. dollars)
Trust funds	$	11,149	$	9,940
Deposits with non-U.S. regulatory authorities	2,120		2,240
Assets pledged under reverse repurchase agreements	1,402		1,251
Deposits with U.S. regulatory authorities	1,325		1,307
Other pledged assets	390		364
	$	16,386	$	15,102