Segment Information

The accounting policies of the segments are the same as those described in the Significant Accounting Policies and Pronouncements in Note 2 of the consolidated financial statements accompanying the 2018 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 March 31,
Revenues:	2019		2018
U.S. and Latin America:
Traditional	$	1,540,666	$	1,489,694
Financial Solutions	254,660		213,352
Total	1,795,326		1,703,046
Canada:
Traditional	312,333		302,319
Financial Solutions	23,574		12,777
Total	335,907		315,096
Europe, Middle East and Africa:
Traditional	384,006		393,782
Financial Solutions	109,421		88,143
Total	493,427		481,925
Asia Pacific:
Traditional	673,172		614,539
Financial Solutions	54,528		19,846
Total	727,700		634,385
Corporate and Other	67,671		39,255
Total	$	3,420,031	$	3,173,707



	Three months ended March 31,
Income (loss) before income taxes:	2019			2018
U.S. and Latin America:
Traditional	$	11,654		$	2,892
Financial Solutions	83,277			67,421
Total	94,931			70,313
Canada:
Traditional	50,279			23,707
Financial Solutions	1,348			3,191
Total	51,627			26,898
Europe, Middle East and Africa:
Traditional	15,424			15,421
Financial Solutions	38,390			39,164
Total	53,814			54,585
Asia Pacific:
Traditional	36,624			22,887
Financial Solutions	6,083			4,021
Total	42,707			26,908
Corporate and Other	(26,515		)	(40,779		)
Total	$	216,564		$	137,925



Assets:	March 31, 2019		December 31, 2018
U.S. and Latin America:
Traditional	$	18,820,270	$	19,235,781
Financial Solutions	20,308,486		19,870,388
Total	39,128,756		39,106,169
Canada:
Traditional	3,579,658		4,200,792
Financial Solutions	57,549		154,000
Total	3,637,207		4,354,792
Europe, Middle East and Africa:
Traditional	3,797,482		3,643,174
Financial Solutions	4,968,853		4,737,529
Total	8,766,335		8,380,703
Asia Pacific:
Traditional	6,043,694		5,680,978
Financial Solutions	1,530,360		1,180,745
Total	7,574,054		6,861,723
Corporate and Other	7,586,129		5,831,858
Total	$	66,692,481	$	64,535,245