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Segment Information
6 Months Ended
Jun. 30, 2011
Statement - Segment Information  
Segment Information
 Three months ended June 30, Six months ended June 30,
Total revenues:2011 2010 2011 2010
U.S.$ 1,254,057 $ 1,187,111 $ 2,606,197 $ 2,473,702
Canada  263,067   221,256   528,576   474,027
Europe & South Africa  295,694   219,743   576,016   446,524
Asia Pacific  346,120   282,181   685,325   592,037
Corporate and Other  45,039   21,586   90,298   45,772
Total$ 2,203,977 $ 1,931,877 $ 4,486,412 $ 4,032,062

7. 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 2010 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. Investment income is allocated to the segments based upon average assets and related capital levels deemed appropriate to support the segment business volumes.

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 and investment related gains and losses are credited 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. Information related to total revenues, income before income taxes, and total assets of the Company for each reportable segment are summarized below (dollars in thousands).

 Three months ended June 30, Six months ended June 30,
Income before income taxes:2011 2010 2011 2010
U.S.$ 116,171 $ 120,775 $ 267,068 $ 252,347
Canada  43,992   33,748   74,663   52,721
Europe & South Africa  16,241   22,326   42,560   32,983
Asia Pacific  7,914   23,761   33,242   50,206
Corporate and Other  16,088   (2,538)   24,722   3,130
Total$ 200,406 $ 198,072 $ 442,255 $ 391,387

       
Total Assets:June 30, 2011 December 31, 2010 
U.S.$ 17,612,924 $ 17,470,744 
Canada  3,682,535   3,441,915 
Europe & South Africa  1,795,122   1,584,007 
Asia Pacific  2,921,825   2,440,316 
Corporate and Other  4,646,871   4,144,926 
Total$ 30,659,277 $ 29,081,908