Segment Information (Tables)

6 Months Ended

Jun. 30, 2011

Segment Information
For the three months ended June 30, 2011

					Global			Global						Total
		North			(Non-U.S.)			(Non-U.S.)						Non-life			Life		Corporate
		America			P&C			Specialty			Catastrophe			Segment			Segment		and Other		Total

Gross premiums written		$	242		$	122		$	350		$	169		$	883		$	195	$	4	$	1,082
Net premiums written		$	242		$	121		$	333		$	161		$	857		$	195	$	4	$	1,056
Decrease (increase) in unearned premiums			19			72			8			(51)			48			6		(3)		51
Net premiums earned		$	261		$	193		$	341		$	110		$	905		$	201	$	1	$	1,107
Losses and loss expenses and
life policy benefits			(190)			(127)			(206)			(123)			(646)			(166)		(2)		(814)
Acquisition costs			(63)			(53)			(78)			(9)			(203)			(26)		—		(229)
Technical result		$	8		$	13		$	57		$	(22)		$	56		$	9	$	(1)	$	64
Other income															—			—		1		1
Other operating expenses															(71)			(13)		(30)		(114)
Underwriting result														$	(15)		$	(4)		n/a	$	(49)
Net investment income																		16		142		158
Allocated underwriting result	⁽¹⁾																$	12		n/a		n/a
Net realized and unrealized investment gains																				78		78
Interest expense																				(12)		(12)
Amortization of intangible assets																				(9)		(9)
Net foreign exchange gains																				9		9
Income tax expense																				(50)		(50)
Interest in losses of equity investments																				(1)		(1)
Net income																				n/a	$	124

Loss ratio ⁽²⁾			72.8	%		65.9	%		60.3	%		111.7	%		71.4	%
Acquisition ratio ⁽³⁾			24.1			27.6			22.9			8.1			22.4

Technical ratio ⁽⁴⁾			96.9	%		93.5	%		83.2	%		119.8	%		93.8	%
Other operating expense ratio ⁽⁵⁾															7.9

Combined ratio ⁽⁶⁾															101.7	%

Segment Information
For the three months ended June 30, 2010

				Global			Global						Total
	North			(Non-U.S.)			(Non-U.S.)						Non-life			Life		Corporate
	America			P&C			Specialty			Catastrophe			Segment			Segment		and Other		Total

Gross premiums written	$	207		$	189		$	371		$	206		$	973		$	167	$	—	$	1,140
Net premiums written	$	207		$	186		$	355		$	191		$	939		$	167	$	7	$	1,113
Decrease (increase) in unearned premiums		16			45			21			(90)			(8)			6		(6)		(8)
Net premiums earned	$	223		$	231		$	376		$	101		$	931		$	173	$	1	$	1,105
Losses and loss expenses and
life policy benefits		(116)			(141)			(292)			13			(536)			(169)		—		(705)
Acquisition costs		(69)			(61)			(82)			(7)			(219)			(25)		—		(244)
Technical result	$	38		$	29		$	2		$	107		$	176		$	(21)	$	1	$	156
Other income (loss)														1			1		(1)		1
Other operating expenses														(82)			(13)		(65)		(160)
Underwriting result													$	95		$	(33)		n/a	$	(3)
Net investment income																	20		154		174
Allocated underwriting result																$	(13)		n/a		n/a
Net realized and unrealized investment gains																			46		46
Interest expense																			(13)		(13)
Amortization of intangible assets																			(8)		(8)
Net foreign exchange gains																			11		11
Income tax expense																			(17)		(17)
Interest in earnings of equity investments																			1		1
Net income																			n/a	$	191

Loss ratio		52.2	%		61.1	%		77.6	%		(12.8)	%		57.6	%
Acquisition ratio		30.7			26.4			21.9			6.3			23.4

Technical ratio		82.9	%		87.5	%		99.5	%		(6.5)	%		81.0	%
Other operating expense ratio														8.8

Combined ratio														89.8	%

Segment Information
For the six months ended June 30, 2011

				Global			Global						Total
	North			(Non-U.S.)			(Non-U.S.)						Non-life			Life		Corporate
	America			P&C			Specialty			Catastrophe			Segment			Segment		and Other		Total

Gross premiums written	$	581		$	440		$	724		$	486		$	2,231		$	403	$	6	$	2,640
Net premiums written	$	581		$	437		$	648		$	453		$	2,119		$	402	$	6	$	2,527
(Increase) decrease in unearned premiums		(60)			(63)			10			(220)			(333)			(17)		(5)		(355)
Net premiums earned	$	521		$	374		$	658		$	233		$	1,786		$	385	$	1	$	2,172
Losses and loss expenses and
life policy benefits		(365)			(277)			(427)			(1,040)			(2,109)			(311)		(2)		(2,422)
Acquisition costs		(129)			(93)			(158)			(1)			(381)			(56)		—		(437)
Technical result	$	27		$	4		$	73		$	(808)		$	(704)		$	18	$	(1)	$	(687)
Other income														2			—		1		3
Other operating expenses														(137)			(25)		(56)		(218)
Underwriting result													$	(839)		$	(7)		n/a	$	(902)
Net investment income																	31		279		310
Allocated underwriting result																$	24		n/a		n/a
Net realized and unrealized investment losses																			(34)		(34)
Interest expense																			(24)		(24)
Amortization of intangible assets																			(18)		(18)
Net foreign exchange gains																			9		9
Income tax expense																			(24)		(24)
Interest in losses of equity investments																			—		—
Net loss																			n/a	$	(683)

Loss ratio		70.0	%		74.0	%		64.9	%		446.3	%		118.0	%
Acquisition ratio		24.8			25.0			24.0			0.3			21.4

Technical ratio		94.8	%		99.0	%		88.9	%		446.6	%		139.4	%
Other operating expense ratio														7.7

Combined ratio														147.1	%

Segment Information
For the six months ended June 30, 2010

				Global			Global						Total
	North			(Non-U.S.)			(Non-U.S.)						Non-life			Life		Corporate
	America			P&C			Specialty			Catastrophe			Segment			Segment		and Other		Total

Gross premiums written	$	564		$	633		$	880		$	615		$	2,692		$	354	$	3	$	3,049
Net premiums written	$	564		$	621		$	811		$	550		$	2,546		$	349	$	2	$	2,897
Increase in unearned premiums		(73)			(160)			(98)			(295)			(626)			(12)		(1)		(639)
Net premiums earned	$	491		$	461		$	713		$	255		$	1,920		$	337	$	1	$	2,258
Losses and loss expenses and
life policy benefits		(296)			(387)			(595)			(140)			(1,418)			(299)		—		(1,717)
Acquisition costs		(137)			(114)			(146)			(18)			(415)			(49)		—		(464)
Technical result	$	58		$	(40)		$	(28)		$	97		$	87		$	(11)	$	1	$	77
Other income (loss)														2			1		(1)		2
Other operating expenses														(160)			(27)		(101)		(288)
Underwriting result													$	(71)		$	(37)		n/a	$	(209)
Net investment income																	37		311		348
Allocated underwriting result																$	—		n/a		n/a
Net realized and unrealized investment gains																			191		191
Interest expense																			(20)		(20)
Amortization of intangible assets																			(13)		(13)
Net foreign exchange gains																			15		15
Income tax expense																			(45)		(45)
Interest in earnings of equity investments																			4		4
Net income																			n/a	$	271

Loss ratio		60.2	%		84.0	%		83.4	%		54.6	%		73.9	%
Acquisition ratio		28.0			24.6			20.5			7.3			21.6

Technical ratio		88.2	%		108.6	%		103.9	%		61.9	%		95.5	%
Other operating expense ratio														8.3

Combined ratio														103.8	%

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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