Income Taxes (Tables)

3 Months Ended

Mar. 31, 2012

Income Taxes

Effective Tax Rate Reconciliation

	First Quarter
	2012			2011
	(in millions)
Expected tax provision (benefit) at statutory rates in taxable jurisdictions	$	(198.8	)	$	87.7
Tax-exempt interest	(15.4		)	(15.3		)
Change in liability for uncertain tax positions	0.6			0.6
Other	1.0			0.9
Total provision (benefit) for income taxes	$	(212.6	)	$	73.9
Effective tax rate	30.6		%	34.7		%

Pretax Income (Loss) by Tax Jurisdiction

	First Quarter
	2012			2011
	(in millions)
United States	$	(568.2	)	$	250.7
Bermuda	(127.6		)	(37.6		)
UK	0.2			0.1
Total	$	(695.6	)	$	213.2

Revenue by Tax Jurisdiction

	First Quarter
	2012			2011
	(in millions)
United States	$	(280.4	)	$	293.7
Bermuda	(77.0		)	(14.8		)
UK	0.0			0.1
Total	$	(357.4	)	$	279.0

(1)In the above tables, pretax income and revenues of the Company’s subsidiaries which are not U.S. domiciled but are subject to U.S. tax by election or as controlled foreign corporations are included in the U.S. amounts.