| OPERATING RESULTS FOR 2011 and 2010 |
($ Millions)
|
|
| FIRST HALF |
2011 |
2010 |
| NET WRITTEN PREMIUMS |
218,792 |
213,332 |
| PERCENT CHANGE (%) |
2.6 |
0.4 |
| NET EARNED PREMIUMS |
212,491 |
207,980 |
| PERCENT CHANGE (%) |
2.2 |
(1.5) |
| INCURRED LOSSES & LOSS ADJUSTMENT EXPENSES |
174,154 |
152,503 |
| PERCENT CHANGE (%) |
14.2 |
(0.9) |
| STATUTORY UNDERWRITING GAINS (LOSSES) |
(23,288) |
(4,321) |
| POLICYHOLDERS’ DIVIDENDS |
810 |
777 |
| NET UNDERWRITING GAINS (LOSSES) |
(24,098) |
(5,098) |
| PRETAX OPERATING INCOME |
1,280 |
19,320 |
| NET INVESTMENT INCOME EARNED |
24,819 |
23,744 |
| NET REALIZED CAPITAL GAINS (LOSSES) |
3,605 |
2,297 |
| NET INVESTMENT GAINS |
28,424 |
26,041 |
| NET INCOME (LOSS) AFTER TAXES |
4,758 |
16,778 |
| PERCENT CHANGE (%) |
(71.6) |
181.3 |
| SURPLUS (CONSOLIDATED) |
559,058 |
532,811 |
| LOSS & LOSS ADJUSTMENT EXPENSE RESERVES |
574,977 |
559,189 |
| COMBINED RATIO, POST-DIVIDENDS (%) |
110.5 |
102.0 |
| |
|
|
| SECOND QUARTER |
2011 |
2010 |
| NET WRITTEN PREMIUMS |
109,746 |
108,010 |
| PERCENT CHANGE (%) |
1.6 |
1.7 |
| NET EARNED PREMIUMS |
107,259 |
104,831 |
| PERCENT CHANGE (%) |
2.3 |
(0.8) |
| INCURRED LOSSES & LOSS ADJUSTMENT EXPENSES |
95,404 |
77,655 |
| PERCENT CHANGE (%) |
22.9 |
3.3 |
| STATUTORY UNDERWRITING GAINS (LOSSES) |
(19,262) |
(3,044) |
| POLICYHOLDERS’ DIVIDENDS |
348 |
259 |
| NET UNDERWRITING GAINS (LOSSES) |
(19,610) |
(3,303) |
| PRETAX OPERATING INCOME |
(7,347) |
8,990 |
| NET INVESTMENT INCOME EARNED |
12,222 |
12,067 |
| NET REALIZED CAPITAL GAINS (LOSSES) |
2,617 |
1,284 |
| NET INVESTMENT GAINS |
14,839 |
13,350 |
| NET INCOME (LOSS) AFTER TAXES |
(3,065) |
7,759 |
| PERCENT CHANGE (%) |
NM* |
8.0 |
| SURPLUS (CONSOLIDATED) |
559,058 |
532,811 |
| LOSS & LOSS ADJUSTMENT EXPENSE RESERVES |
574,977 |
559,189 |
| COMBINED RATIO, POST-DIVIDENDS (%) |
117.6 |
102.3 |
|
|