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Consolidated Statement of Cash Flows (Unaudited) (USD $)
In Millions
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income (loss) $ 866 $ 1,432
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses 118 (177)
Amortization of premiums/discounts on fixed maturities 63 61
Deferred income taxes 47 (48)
Unpaid losses and loss expenses (cash flow) 1,001 (452)
Unearned premiums (cash flow) 478 818
Future policy benefits (cash flow) 37 40
Insurance and reinsurance balances payable (cash flow) 449 (16)
Accounts payable, accrued expenses, and other liabilities (cash flow) 3 33
Income taxes payable (cash flow) (91) 60
Insurance and reinsurance balances receivable (cash flow) (578) (316)
Reinsurance recoverable on losses and loss expenses (cash flow) (296) 346
Reinsurance recoverable on policy benefits (cash flow) 29 11
Deferred policy acquisition costs (cash flow) (149) (167)
Prepaid reinsurance premiums (cash flow) (156) (411)
Other cash flows from operating activities 242 477
Net cash flows from operating activities 2,063 1,691
Cash flows used for investing activities:    
Purchases of fixed maturities available for sale (13,041) (16,623)
Purchases of to be announced mortgage-backed securities (642) (720)
Purchases of fixed maturities held to maturity (234) (324)
Purchases of equity securities (170) (38)
Sales of fixed maturities available for sale 9,346 12,866
Sales of to be announced mortgage-backed securities 639 684
Sales of equity securities 347 311
Maturities and redemptions of fixed maturities available for sale 1,758 1,776
Maturities and redemptions of fixed maturities held to maturity 656 570
Net derivative instruments settlements (46) 131
Acquisition of subsidiaries (net of cash acquired of $95 in 2011) (380)  
Other cash flows from investing activities (132) (100)
Net cash flows from (used for) investing activities (1,899) (1,467)
Cash flows (used for) from financing activities:    
Dividends paid on Common Shares (223) (210)
Common Shares repurchased (cash flow) (68)  
Proceeds from issuance of short term debt 3,311 175
Repayment of short-term debt (3,211) (175)
Proceeds from share-based compensation plans 76 19
Net cash flows (used for) from financing activities (115) (191)
Effect of foreign currency rate changes on cash and cash equivalents:    
Effect of foreign currency rate changes on cash and cash equivalents 12 (34)
Cash:    
Net (decrease) increase in cash 61 (1)
Cash - beginning of period 772 669
Cash - end of period 833 668
Supplement cash flow disclosures    
Taxes paid (cash flow) 265 256
Interest paid (cash flow) $ 112 $ 101