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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2015
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segment reporting table
Segment Information
For the three months ended March 31, 2015
 
North
America
 
Global
(Non-U.S.)
P&C
 
Global
Specialty
 
Catastrophe
 
Total
Non-life
segment
 
Life
and Health
segment
 
Corporate
and Other
 
Total
Gross premiums written
$
473

 
$
334

 
$
427

 
$
191

 
$
1,425

 
$
324

 
$
—

 
$
1,749

Net premiums written
$
471

 
$
331

 
$
362

 
$
176

 
$
1,340

 
$
313

 
$
—

 
$
1,653

(Increase) decrease in unearned premiums
(132
)
 
(157
)
 
3

 
(118
)
 
(404
)
 
(14
)
 
—

 
(418
)
Net premiums earned
$
339

 
$
174

 
$
365

 
$
58

 
$
936

 
$
299

 
$
—

 
$
1,235

Losses and loss expenses and life policy benefits
(172
)
 
(119
)
 
(170
)
 
(20
)
 
(481
)
 
(240
)
 
—

 
(721
)
Acquisition costs
(93
)
 
(52
)
 
(93
)
 
(4
)
 
(242
)
 
(34
)
 
—

 
(276
)
Technical result
$
74

 
$
3

 
$
102

 
$
34

 
$
213

 
$
25

 
$
—

 
$
238

Other income
 
 
 
 
 
 
 
 
—

 
1

 
3

 
4

Other expenses
 
 
 
 
 
 
 
 
(52
)
 
(15
)
 
(58
)
 
(125
)
Underwriting result
 
 
 
 
 
 
 
 
$
161

 
$
11

 
n/a

 
$
117

Net investment income
 
 
 
 
 
 
 
 
 
 
14

 
91

 
105

Allocated underwriting result (1)
 
 
 
 
 
 
 
 
 
 
$
25

 
n/a

 
n/a

Net realized and unrealized investment gains
 
 
 
 
 
 
 
 
 
 
 
 
116

 
116

Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
(12
)
 
(12
)
Amortization of intangible assets
 
 
 
 
 
 
 
 
 
 
 
 
(7
)
 
(7
)
Net foreign exchange gains
 
 
 
 
 
 
 
 
 
 
 
 
13

 
13

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
 
(80
)
 
(80
)
Interest in losses of equity method investments
 
 
 
 
 
 
 
 
 
 
 
 
(4
)
 
(4
)
Net income
 
 
 
 
 
 
 
 
 
 
 
 
n/a

 
$
248

Loss ratio (2)
50.7
%
 
68.4
%
 
46.7
%
 
33.7
%
 
51.4
%
 
 
 
 
 
 
Acquisition ratio (3)
27.5

 
30.1

 
25.4

 
7.0

 
25.9

 
 
 
 
 
 
Technical ratio (4)
78.2
%
 
98.5
%
 
72.1
%
 
40.7
%
 
77.3
%
 
 
 
 
 
 
Other expense ratio (5)
 
 
 
 
 
 
 
 
5.5

 
 
 
 
 
 
Combined ratio (6)
 
 
 
 
 
 
 
 
82.8
%
 
 
 
 
 
 
 
 
(1)
Allocated underwriting result is defined as net premiums earned, other income or loss and allocated net investment income less life policy benefits, acquisition costs and other expenses.
(2)
Loss ratio is obtained by dividing losses and loss expenses by net premiums earned.
(3)
Acquisition ratio is obtained by dividing acquisition costs by net premiums earned.
(4)
Technical ratio is defined as the sum of the loss ratio and the acquisition ratio.
(5)
Other expense ratio is obtained by dividing other expenses by net premiums earned.
(6)
Combined ratio is defined as the sum of the technical ratio and the other expense ratio.
n/a Not applicable
Segment Information
For the three months ended March 31, 2014
 
North
America
 
Global
(Non-U.S.)
P&C
 
Global
Specialty
 
Catastrophe
 
Total
Non-life
segment
 
Life
and Health
segment
 
Corporate
and Other
 
Total
Gross premiums written
$
530

 
$
364

 
$
479

 
$
210

 
$
1,583

 
$
289

 
$
—

 
$
1,872

Net premiums written
$
527

 
$
361

 
$
389

 
$
179

 
$
1,456

 
$
282

 
$
—

 
$
1,738

Increase in unearned premiums
(148
)
 
(182
)
 
(34
)
 
(100
)
 
(464
)
 
(20
)
 
—

 
(484
)
Net premiums earned
$
379

 
$
179

 
$
355

 
$
79

 
$
992

 
$
262

 
$
—

 
$
1,254

Losses and loss expenses and life policy benefits
(260
)
 
(94
)
 
(201
)
 
21

 
(534
)
 
(215
)
 
—

 
(749
)
Acquisition costs
(92
)
 
(54
)
 
(79
)
 
(8
)
 
(233
)
 
(32
)
 
—

 
(265
)
Technical result
$
27

 
$
31

 
$
75

 
$
92

 
$
225

 
$
15

 
$
—

 
$
240

Other income (loss)
 
 
 
 
 
 
 
 
1

 
1

 
(2
)
 
—

Other expenses
 
 
 
 
 
 
 
 
(65
)
 
(17
)
 
(29
)
 
(111
)
Underwriting result
 
 
 
 
 
 
 
 
$
161

 
$
(1
)
 
n/a

 
$
129

Net investment income
 
 
 
 
 
 
 
 
 
 
15

 
102

 
117

Allocated underwriting result
 
 
 
 
 
 
 
 
 
 
$
14

 
n/a

 
n/a

Net realized and unrealized investment gains
 
 
 
 
 
 
 
 
 
 
 
 
142

 
142

Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
(12
)
 
(12
)
Amortization of intangible assets
 
 
 
 
 
 
 
 
 
 
 
 
(7
)
 
(7
)
Net foreign exchange gains
 
 
 
 
 
 
 
 
 
 
 
 
—

 
—

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
 
(62
)
 
(62
)
Interest in earnings of equity method investments
 
 
 
 
 
 
 
 
 
 
 
 
6

 
6

Net income
 
 
 
 
 
 
 
 
 
 
 
 
n/a

 
$
313

Loss ratio
68.6
%
 
52.4
%
 
56.6
%
 
(26.5
)%
 
53.8
%
 
 
 
 
 
 
Acquisition ratio
24.3

 
30.1

 
22.4

 
10.1

 
23.6

 
 
 
 
 
 
Technical ratio
92.9
%
 
82.5
%
 
79.0
%
 
(16.4
)%
 
77.4
%
 
 
 
 
 
 
Other expense ratio
 
 
 
 
 
 
 
 
6.5

 
 
 
 
 
 
Combined ratio
 
 
 
 
 
 
 
 
83.9
%