Income Taxes (Tables)

6 Months Ended

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Effective Tax Rate Reconciliation

Effective Tax Rate Reconciliation

	Second Quarter						Six Months
	2012			2011			2012			2011
	(in millions)
Expected tax provision (benefit) at statutory rates in taxable jurisdictions	$	191.2		$	(33.6	)	$	(7.6	)	$	54.1
Tax-exempt interest	(15.5		)	(16.2		)	(30.9		)	(31.5		)
Change in liability for uncertain tax positions	0.5			0.6			1.1			1.2
Other	0.9			1.0			1.9			1.9
Total provision (benefit) for income taxes	$	177.1		$	(48.2	)	$	(35.5	)	$	25.7
Effective tax rate	32.0		%	52.8		%	25.0		%	21.1		%

Pretax Income (Loss) by Tax Jurisdiction

Pretax Income (Loss) by Tax Jurisdiction(1)

	Second Quarter					Six Months
	2012		2011			2012			2011
	(in millions)
United States	$	546.3	$	(95.7	)	$	(21.9	)	$	155.0
Bermuda	7.2		4.3			(120.4		)	(33.3		)
UK	0.1		0.1			0.3			0.2
Total	$	553.6	$	(91.3	)	$	(142.0	)	$	121.9

Revenue by Tax Jurisdiction

evenue by Tax Jurisdiction(1)

	Second Quarter				Six Months
	2012		2011		2012		2011
	(in millions)
United States	$	680.1	$	75.7	$	399.7	$	369.4
Bermuda	79.4		40.6		2.4		25.8
UK	0.0		0.0		0.0		0.1
Total	$	759.5	$	116.3	$	402.1	$	395.3

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(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.