Key Financial Data
| 2009 US$m |
2008 US$m |
2007 US$m | |
|---|---|---|---|
| Gross premiums written | 3,715 | 3,437 | 3,361 |
| Net premiums written | 3,168 | 2,611 | 2,573 |
| Net premiums earned | 2,918 | 2,596 | 2,489 |
| Investment and other income | 417 | (109) | 200 |
| Total revenues | 3,335 | 2,486 | 2,689 |
| (Loss)/income before taxation | 603 | (13) | 543 |
| Net (loss)/income to common stockholders | 509 | (47) | 462 |
| Return on equity1 | 24.3% | (1.9%) | 22.9% |
| Return on net tangible assets2 | 33.2% | (2.8%) | 36.1% |
| Total assets | 11,682 | 9,660 | 9,813 |
| Stockholders' equity | 3,278 | 2,469 | 3,017 |
| Loss ratio3 | 57.6% | 62.9% | 46.4% |
| Expense ratio4 | 31.5% | 32.0% | 34.1% |
| Combined ratio5 | 89.1% | 94.9% | 80.6% |
| 1 | Calculated as net income/(loss) available to common stockholders divided by opening stockholders' equity (excluding preferred shares) adjusted for capital issued during year |
| 2 | Calculated as net income/(loss) available to common stockholders divided by net tangible assets (opening stockholders' equity excluding preferred shares adjusted for capital issued during the year less intangible assets and associated deferred tax |
| 3 | Calculated as losses and loss expenses divided by net premiums earned |
| 4 | Calculated as the total of policy acquisition costs, most administrative expenses and other expenses divided by net premiums earned; financing expenses and restructuring costs, profit-related bonus, employee share option schemes and certain Group corporate costs are not included in the calculation |
| 5 | Total of loss ratio plus expense ratio |