Segment Information

6 Months Ended

Jun. 30, 2011

Note 15 ― Segment Information

The Company's operating segments generally reflect groups of related products, except for the International segment which is generally based on geography. In accordance with GAAP, operating segments that do not require separate disclosure have been combined into Other Operations. The Company measures the financial results of its segments using “segment earnings (loss),” which is defined as shareholders' net income (loss) excluding after-tax realized investment gains and losses.

Summarized segment financial information was as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In millions)	2011		2010		2011		2010
Premiums and fees, Mail order pharmacy revenues and Other revenues
Health Care	$	3,711	$	3,692	$	7,430	$	7,423
Disability and Life		717		678		1,405		1,368
International		742		550		1,448		1,084
Run-off Reinsurance		10		98		(24)		60
Other Operations		42		45		86		88
Corporate		(14)		(15)		(29)		(30)
Total	$	5,208	$	5,048	$	10,316	$	9,993
Shareholders' net income
Health Care	$	280	$	247	$	527	$	414
Disability and Life		88		89		170		159
International		74		64		151		136
Run-off Reinsurance		(22)		(104)		(9)		(100)
Other Operations		20		24		43		43
Corporate		(43)		(40)		(73)		(86)
Segment Earnings		397		280		809		566
Realized investment gains, net of taxes		11		14		28		11
Shareholders' net income	$	408	$	294	$	837	$	577

Concentration of risk. For the Company's International segment, South Korea is the single largest geographic market. South Korea generated 31% of the segment's revenues for the three months and six months ended June 30, 2011. South Korea generated 55% of the segment's earnings for the second quarter of 2011 and 51% of the segment's earnings for the six months ended June 30, 2011. Due to the concentration of business in South Korea, the International segment is exposed to potential losses resulting from economic, regulatory and geopolitical developments in that country, as well as foreign currency movements affecting the South Korean currency, that could have a material impact on the segment's earnings and the Company's consolidated financial results of operations.