Condensed Unaudited Quarterly Financial Data

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Condensed unaudited quarterly financial data

Condensed unaudited quarterly financial data

	Three Months Ended
	March 31			June 30		September 30		December 31
(in millions of U.S. dollars, except per share data)	2018			2018		2018		2018
Net premiums earned	$	7,027		$	7,664	$	7,908	$	7,465
Net investment income	806			828		823		848
Net realized gains (losses) including OTTI	(2		)	18		19		(687		)
Total revenues	$	7,831		$	8,510	$	8,750	$	7,626
Losses and loss expenses	$	4,102		$	4,487	$	4,868	$	4,610
Policy benefits	$	151		$	150	$	127	$	162
Net income	$	1,082		$	1,294	$	1,231	$	355
Basic earnings per share	$	2.32		$	2.78	$	2.66	$	0.77
Diluted earnings per share	$	2.30		$	2.76	$	2.64	$	0.76

Net income for the three months ended December 31, 2018 included after-tax catastrophe losses of $506 million.

	Three Months Ended
	March 31			June 30		September 30			December 31
(in millions of U.S. dollars, except per share data)	2017			2017		2017			2017
Net premiums earned	$	6,772		$	7,237	$	7,807		$	7,218
Net investment income	745			770		813			797
Net realized gains (losses) including OTTI	(7		)	101		(10		)	—
Total revenues	$	7,510		$	8,108	$	8,610		$	8,015
Losses and loss expenses	$	3,789		$	4,146	$	6,247		$	4,272
Policy benefits	$	168		$	163	$	169		$	176
Net income (loss)	$	1,093		$	1,305	$	(70	)	$	1,533
Basic earnings (loss) per share	$	2.33		$	2.79	$	(0.15	)	$	3.29
Diluted earnings (loss) per share	$	2.31		$	2.77	$	(0.15	)	$	3.27

Net income for the three months ended September 30, 2017 included after-tax catastrophe losses of $1.5 billion. Net income for the three months ended December 31, 2017 included a one-time income tax transition benefit of $450 million related to the 2017 Tax Act. Refer to Note 7 for additional information.