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Condensed Unaudited Quarterly Financial Data
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Condensed unaudited quarterly financial data
Condensed unaudited quarterly financial data
 
Three Months Ended
 
 
March 31

 
June 30

 
September 30

 
December 31

(in millions of U.S. dollars, except per share data)
2017

 
2017

 
2017

 
2017

Net premiums earned
$
6,772

 
$
7,237

 
$
7,807

 
$
7,218

Net investment income
745

 
770

 
813

 
797

Net realized gains (losses) including OTTI
(7
)
 
101

 
(10
)
 
—

Total revenues
$
7,510

 
$
8,108

 
$
8,610

 
$
8,015

Losses and loss expenses
$
3,789

 
$
4,146

 
$
6,247

 
$
4,272

Policy benefits
$
168

 
$
163

 
$
169

 
$
176

Net income (loss)
$
1,093

 
$
1,305

 
$
(70
)
 
$
1,533

Basic earnings (loss) per share
$
2.33

 
$
2.79

 
$
(0.15
)
 
$
3.29

Diluted earnings (loss) per share
$
2.31

 
$
2.77

 
$
(0.15
)
 
$
3.27



Net income for the three months ended September 30, 2017 included after-tax catastrophe losses of $1.5 billion. Net income for the three months ended December 31, 2017 included a one-time income tax transition benefit of $450 million related to the 2017 Tax Act. Refer to Note 8 for additional information.
 
Three Months Ended
 
 
March 31

 
June 30

 
September 30

 
December 31

(in millions of U.S. dollars, except per share data)
2016

 
2016

 
2016

 
2016

Net premiums earned
$
6,597

 
$
7,405

 
$
7,688

 
$
7,059

Net investment income
674

 
708

 
739

 
744

Net realized gains (losses) including OTTI
(394
)
 
(216
)
 
100

 
365

Total revenues
$
6,877

 
$
7,897

 
$
8,527

 
$
8,168

Losses and loss expenses
$
3,674

 
$
4,254

 
$
4,269

 
$
3,855

Policy benefits
$
126

 
$
146

 
$
155

 
$
161

Net income
$
439

 
$
726

 
$
1,360

 
$
1,610

Basic earnings per share
$
0.98

 
$
1.55

 
$
2.90

 
$
3.44

Diluted earnings per share
$
0.97

 
$
1.54

 
$
2.88

 
$
3.41