Segment Information

The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies in Note 2 of the consolidated financial statements accompanying the 2016 Annual Report. The Company measures segment performance primarily based on profit or loss from operations before income taxes. There are no intersegment reinsurance transactions and the Company does not have any material long-lived assets.

The Company allocates capital to its segments based on an internally developed economic capital model, the purpose of which is to measure the risk in the business and to provide a basis upon which capital is deployed. The economic capital model considers the unique and specific nature of the risks inherent in the Company’s businesses. As a result of the economic capital allocation process, a portion of investment income is attributed to the segments based on the level of allocated capital. In addition, the segments are charged for excess capital utilized above the allocated economic capital basis. This charge is included in policy acquisition costs and other insurance expenses.

The Company has geographic-based and business-based operational segments. Geographic-based operations are further segmented into traditional and financial solutions businesses. Information related to revenues, income (loss) before income taxes and total assets of the Company for each reportable segment are summarized below (dollars in thousands).



	Three months ended September 30,				Nine months ended September 30,
Revenues:	2017		2016		2017		2016
U.S. and Latin America:
Traditional	$	1,521,383	$	1,444,917	$	4,532,584	$	4,339,737
Financial Solutions	264,170		276,135		834,992		620,117
Total	1,785,553		1,721,052		5,367,576		4,959,854
Canada:
Traditional	281,095		280,959		814,643		827,871
Financial Solutions	12,430		12,359		36,240		34,897
Total	293,525		293,318		850,883		862,768
Europe, Middle East and Africa:
Traditional	360,972		289,070		1,024,978		880,346
Financial Solutions	77,041		99,752		230,435		248,485
Total	438,013		388,822		1,255,413		1,128,831
Asia Pacific:
Traditional	561,660		427,647		1,628,419		1,299,417
Financial Solutions	16,932		19,037		55,368		56,153
Total	578,592		446,684		1,683,787		1,355,570
Corporate and Other	49,627		50,701		125,667		145,190
Total	$	3,145,310	$	2,900,577	$	9,283,326	$	8,452,213



	Three months ended September 30,						Nine months ended September 30,
Income (loss) before income taxes:	2017			2016			2017			2016
U.S. and Latin America:
Traditional	$	160,512		$	77,081		$	281,066		$	239,609
Financial Solutions	89,118			102,714			299,689			196,672
Total	249,630			179,795			580,755			436,281
Canada:
Traditional	28,789			34,275			80,953			97,679
Financial Solutions	4,472			1,160			12,489			3,880
Total	33,261			35,435			93,442			101,559
Europe, Middle East and Africa:
Traditional	15,421			8,515			40,751			14,233
Financial Solutions	30,953			43,786			91,776			96,679
Total	46,374			52,301			132,527			110,912
Asia Pacific:
Traditional	26,564			19,822			121,574			95,464
Financial Solutions	(229		)	7,549			11,020			16,029
Total	26,335			27,371			132,594			111,493
Corporate and Other	(15,438		)	(7,302		)	(51,997		)	(11,842		)
Total	$	340,162		$	287,600		$	887,321		$	748,403



Assets:	September 30, 2017		December 31, 2016
U.S. and Latin America:
Traditional	$	18,707,824	$	18,140,825
Financial Solutions	16,101,746		13,712,106
Total	34,809,570		31,852,931
Canada:
Traditional	4,177,125		3,846,682
Financial Solutions	88,609		85,405
Total	4,265,734		3,932,087
Europe, Middle East and Africa:
Traditional	2,978,701		2,559,124
Financial Solutions	4,094,518		3,876,131
Total	7,073,219		6,435,255
Asia Pacific:
Traditional	4,750,652		3,968,081
Financial Solutions	1,187,514		676,281
Total	5,938,166		4,644,362
Corporate and Other	6,607,342		6,233,244
Total	$	58,694,031	$	53,097,879