2.2.0.25falsefalse01080 - Disclosure - Unpaid Losses and Loss Expenses and Policy Benefits for Life and Annuity Contractstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $FROM_Jan01_2010_TO_Dec31_2010http://www.sec.gov/CIK0000911421duration2010-01-01T00:00:002010-12-31T00:00:00SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170PureStandardhttp://www.xbrl.org/2003/instancepurexbrli0EPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0us-gaap_LiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpenseAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseDisclosure - Unpaid Losses and Loss Expenses and Policy Benefits for Life and Annuity Contracts [Abstract]3false0us-gaap_LiabilityForFuturePolicyBenefitsAndUnpaidClaimsDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse009. Unpaid Losses and Loss Expenses and Policy Benefits for Life and Annuity Contracts (a) Unpaid Losses and Loss Expenses Unpaid losses and loss expenses are categorized into three types of reserves: reported outstanding loss reserves (case reserves), additional case reserves (ACRs) and incurred but not reported (IBNR) reserves. Case reserves represent unpaid losses reported by the Company's cedants and recorded by the Company. ACRs are established for particular circumstances where, on the basis of individual loss reports, the Company estimates that the particular loss or collection of losses covered by a treaty may be greater than those advised by the cedant. IBNR reserves represent a provision for claims that have been incurred but not yet reported to the Company, as well as future loss development on losses already reported, in excess of the case reserves and ACRs. The following table shows unpaid losses and loss expenses reported by cedants (case reserves) and those estimated by the Company (ACRs and IBNR reserves) at December 31, 2010 and 2009 (in thousands of U.S. dollars):<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 15px"><td style="width: 434px; text-align:left;border-color:#000000;min-width:434px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:111px;">2010</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:111px;">2009</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 434px; text-align:left;border-color:#000000;min-width:434px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 15px"><td style="width: 434px; text-align:left;border-color:#000000;min-width:434px;">Case reserves </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">4,652,281</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">4,817,765</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 15px"><td style="width: 434px; text-align:left;border-color:#000000;min-width:434px;">ACRs </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">326,721</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">274,360</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 15px"><td style="width: 434px; text-align:left;border-color:#000000;min-width:434px;">IBNR reserves </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">5,687,602</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">5,719,358</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 434px; text-align:left;border-color:#000000;min-width:434px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 16px"><td style="width: 434px; text-align:left;border-color:#000000;min-width:434px;">Total unpaid losses and loss expenses</td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">10,666,604</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">10,811,483</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr></table></div>The table below is a reconciliation of the beginning and ending liability for unpaid losses and loss expenses, excluding policy benefits for life and annuity contracts, for the years ended December 31, 2010, 2009 and 2008 (in thousands of U.S. dollars):<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:111px;">2010</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:111px;">2009</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:111px;">2008</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Gross liability at beginning of year </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">10,811,483</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">7,510,666</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">7,231,436</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Reinsurance recoverable at beginning of year </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">336,352</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">125,215</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">132,479</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Net liability at beginning of year </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">10,475,131</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">7,385,451</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">7,098,957</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 10px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Net liability acquired related to Paris Re </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">— </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">3,176,255</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">— </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 10px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Net incurred losses related to:</td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Current year </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">3,137,874</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,340,768</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,564,174</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Prior years </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">(477,883)</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">(485,809)</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">(417,936)</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,659,991</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">1,854,959</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,146,238</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 10px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Change in Paris Re Reserve Agreement </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">(66,783)</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">(32,027)</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">— </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 10px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Net paid losses related to:</td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Current year </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">311,253</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">327,080</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">240,031</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Prior years </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">2,267,765</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">1,716,798</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">1,340,788</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,579,018</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,043,878</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">1,580,819</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Effects of foreign exchange rate changes </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">(171,464)</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">134,371</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">(278,925)</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Net liability at end of year </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">10,317,857</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">10,475,131</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">7,385,451</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Reinsurance recoverable at end of year </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">348,747</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">336,352</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">125,215</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Gross liability at end of year </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">10,666,604</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">10,811,483</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">7,510,666</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr></table></div>The table below is a reconciliation of losses and loss expenses including life policy benefits for the years ended December 31, 2010, 2009 and 2008 (in thousands of U.S. dollars):<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:111px;">2010</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:111px;">2009</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:111px;">2008</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Net incurred losses related to:</td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Non-life</td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,659,991</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">1,854,959</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,146,238</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Life</td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">623,627</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">440,337</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:111px;">462,982</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 111px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:111px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Losses and loss expenses and life policy benefits</td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">3,283,618</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,295,296</td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:right;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 111px; text-align:right;border-color:#000000;min-width:111px;">2,609,220</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr></table></div>The following table summarizes the net prior year favorable development of loss reserves for each of the Company's Non-life sub-segments for the years ended December 31, 2010, 2009 and 2008 (in thousands of U.S. dollars):<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:106px;">2010</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:106px;">2009</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:106px;">2008</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 317px; text-align:left;border-color:#000000;min-width:317px;">Prior year net favorable loss development:</td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 317px; text-align:left;border-color:#000000;min-width:317px;">Non-life sub-segment</td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">North America </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;"> 165,780</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;">177,571</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;">112,067</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Global (Non-U.S.) P&C </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;"> 97,539</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;">151,456</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;">161,752</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Global (Non-U.S.) Specialty </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;"> 170,931</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;">107,632</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;">65,856</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;">Catastrophe </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:106px;"> 43,633</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:106px;">49,150</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:106px;">78,261</td><td style="width: 7px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 7px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 302px; text-align:left;border-color:#000000;min-width:302px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:7px;"> </td><td style="width: 106px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:106px;"> </td><td style="width: 7px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:7px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 317px; text-align:left;border-color:#000000;min-width:317px;">Total net Non-life prior year loss development </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;"> 477,883</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;">485,809</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td><td style="width: 7px; text-align:center;border-color:#000000;min-width:7px;">$</td><td style="width: 106px; text-align:right;border-color:#000000;min-width:106px;">417,936</td><td style="width: 7px; text-align:left;border-color:#000000;min-width:7px;"> </td></tr></table></div>Within the Company's North America sub-segment, the Company reported net favorable loss development for prior accident years in 2010, 2009 and 2008. The net favorable loss development in 2010 included net favorable development for prior accident years in most lines of business, predominantly in casualty and agriculture, while motor experienced adverse loss development for prior accident years of $8 million. The net favorable loss development in 2009 included net favorable development for prior accident years in most lines of business, predominantly in casualty, while multiline experienced adverse loss development for prior accident years of $8 million. The net favorable loss development in 2008 included net favorable development for prior accident years in all lines of business, except for multiline, which experienced adverse loss development for prior accident years of $3 million. Loss information provided by cedants during each of these years for prior accident years included no individually significant losses or reductions but a series of attritional losses or reductions. Attritional losses are losses that may not be significant on an individual basis, but are monitored on an aggregated basis by the Company to identify trends that may be meaningful from a reserving standpoint. For the Global (Non-U.S.) P&C sub-segment, the Company reported net favorable loss development for prior accident years in 2010, 2009 and 2008. The net favorable loss development in 2010 included net favorable development for prior accident years in all lines of business, but was most pronounced in the property line. The net favorable loss development in 2009 included net favorable development for prior accident years in all lines of business, but was most pronounced in the motor and casualty lines. The net favorable loss development in 2008 included net favorable development for prior accident years in all lines of business, but was most pronounced in the property line. Loss information provided by cedants during each of these years for prior accident years included no individually significant losses or reductions but a series of attritional losses or reductions. For the Global (Non-U.S.) Specialty sub-segment, the Company reported net favorable loss development for prior accident years in 2010, 2009 and 2008. The net favorable loss development in 2010 included net favorable development for prior accident years in all lines of business, except for specialty casualty, which experienced adverse loss development for prior accident years of $37 million. The net favorable loss development in 2009 included net favorable development for prior accident years in most lines of business, predominantly in aviation and engineering, while agriculture and credit/surety experienced combined adverse loss development for prior accident years of $4 million. The net favorable loss development in 2008 included net favorable development in all lines of business, except for energy and specialty casualty, which experienced combined adverse loss development for prior accident years of $9 million. Loss information provided by cedants during each of these years for prior accident years included no individually significant losses or reductions but a series of attritional losses or reductions. For the Catastrophe sub-segment, the Company reported net favorable loss development for prior accident years in 2010, 2009 and 2008. The net favorable loss development in each year was primarily due to favorable loss emergence, as losses reported by cedants for prior accident years were lower than the Company expected. (b) Paris Re Reserve Agreement Following Paris Re's acquisition of substantially all of the reinsurance operations of Colisée Re in 2006, Paris Re's French operating subsidiary (Paris Re France) entered into a reserve agreement (Reserve Agreement), which provides that AXA and Colisée Re shall guarantee reserves in respect of Paris Re France and subsidiaries acquired in the acquisition. The Reserve Agreement relates to losses incurred prior to December 31, 2005. Accordingly, the Company's Consolidated Statements of Operations do not include any favorable or adverse development related to these guaranteed reserves. The reserve guarantee provided by AXA and Colisée Re is conditioned upon, among other things, the guaranteed business, including all related ceded reinsurance, being managed by AXA Liabilities Managers, an affiliate of Colisée Re.  Favorable or adverse development related to the guaranteed reserves is recorded as a change in unpaid losses and loss expenses in the Consolidated Balance Sheets and as a change in the Reserve Agreement payable or receivable balance to/from Colisée Re, which is included within Other reinsurance balances payable in the Consolidated Balance Sheets. Accordingly, the reconciliation of the beginning and ending liability for unpaid losses and loss expenses for the years ended December 31, 2010 and 2009 includes the change in the Reserve Agreement. As of December 31, 2010 and 2009, the Company's net liability for unpaid losses and loss expenses includes $1,239 million and $1,500 million, respectively, of guaranteed reserves and Other reinsurance balances payable includes $128 million and $116 million, respectively, payable to Colisée Re related to the Reserve Agreement. (c) Sub-Prime and Financial Crisis Exposures Ultimate losses for lines impacted by the deteriorating financial condition of the world economies in 2008 and the first half of 2009 cannot be estimated by standard actuarial techniques alone. The majority of the Company's underwriting exposure related to this issue arises from business written in North America and Global (Non-U.S.) specialty casualty and North America and Global (Non-U.S.) credit/surety lines of business and other potentially exposed classes of business during the underwriting years 2006 through 2009. The potential ultimate liability for these exposures was evaluated through an analysis of the Company's exposure to these risks, which include but are not limited to, sub-prime mortgage related exposures. For specialty casualty, the analysis was based on information received from cedants at the time the exposed business was written and supplemented by discussions with cedants, evaluation of known securities class action filings, current industry data regarding the likelihood of securities class actions and other potential suits against companies exposed to the effects of financial stress, estimates of exposed industry premium, estimates of the Company's market share of exposed industry premium and estimates of industry-wide insured losses. For credit/surety, the analysis was based on information received from cedants both at the time the exposed business was written supplemented by discussions with cedants, historical experience in times of similar financial stress, reported claim information and internal modeling. The impacts of the global financial and economic crisis on the Company's reinsurance underwriting operations abated in 2010. The Company has continued to review its loss estimates and has decreased its reserves during 2010 in certain affected lines of business for certain underwriting years, reflecting actual claims activity being less than anticipated based on information provided by cedants. Based on information currently available and the range of potential estimated ultimate liabilities, the Company believes that the unpaid loss and loss expense reserves for North America and Global (Non-U.S.) specialty casualty, North America and Global (Non-U.S.) credit/surety lines of business and other potentially exposed classes of business contemplate a reasonable provision for exposures related to the effect of increased financial stress in the world economies. The Company is unaware of any specific issues that would materially affect its unpaid loss and loss expenses estimates related to this exposure. (d) Asbestos and Environmental Claims The Company's net reserves for unpaid losses and loss expenses at December 31, 2010 and 2009 included $214 million and $232 million, respectively, that represent estimates of its net ultimate liability for asbestos and environmental claims. The gross liability for such claims at December 31, 2010 and 2009 was $222 million and $239 million, respectively, which primarily relate to Paris Re's gross liability for asbestos and environmental claims for pre-2006 accident years of $144 million and $159 million, respectively, with any favorable or adverse development being subject to the Reserve Agreement. Of the remaining $78 million and $80 million, respectively, in gross reserves, the majority of the reserves relate to casualty exposures in the United States arising from business written by PartnerRe SA and PartnerRe U.S.  Ultimate loss estimates for such claims cannot be estimated using traditional reserving techniques and there are significant uncertainties in estimating the amount of the Company's potential losses for these claims. In view of the legal and tort environment that affect the development of such claims, the uncertainties inherent in estimating asbestos and environmental claims are not likely to be resolved in the near future. There can be no assurance that the reserves established by the Company will not be adversely affected by development of other latent exposures, and further, there can be no assurance that the reserves established by the Company will be adequate. The Company does, however, actively evaluate potential exposure to asbestos and environmental claims and establishes additional reserves as appropriate. The Company believes that it has made a reasonable provision for these exposures and is unaware of any specific issues that would materially affect its unpaid losses and loss expense reserves related to this exposure. (e) Policy Benefits for Life and Annuity Contracts The Life segment reported net adverse development for prior accident years of $12 million and $24 million for the years ended December 31, 2010 and 2008, respectively, and net favorable development for prior accident years of $15 million for the year ended December 31, 2009. The net adverse prior year loss development of $12 million in 2010 was primarily driven by adverse development of $23 million due to an improvement in the mortality trend related to an impaired life annuity treaty in the longevity line and adverse development on certain mortality treaties. This adverse development was partially offset by favorable prior year loss development of $17 million resulting from the guaranteed minimum death benefit (GMDB) business, where the payout is linked to the performance of underlying capital market assets, driven by new cedant information and updated assumptions.The net favorable development in 2009 and the net adverse development in 2008 was mainly driven by the GMDB business. Such development was $16 million favorable and $33 million unfavorable for the years ended December 31, 2009 and 2008, respectively. The Company used interest rate assumptions to estimate its liabilities for policy benefits for life and annuity contracts which ranged from 1.0% to 6.0% at December 31, 2010 and 2009.9. Unpaid Losses and Loss Expenses and Policy Benefits for Life and Annuity Contracts (a) Unpaid Losses and Loss Expenses Unpaid losses and loss expenses arefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes the various components of the reserve for future policy benefits and guaranteed minimum benefits, and for claims and claims adjustment expenses; the significant assumptions for estimating claims losses; causes of significant variances from prior periods (such as catastrophes, asbestos and environmental claims reserve losses); and reconciliations of beginning to ending reserve balances.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 94-5 -Paragraph 11 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 13 -Article 7 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 60 -Paragraph 60 falsefalseUnpaid Losses and Loss Expenses and Policy Benefits for Life and Annuity Contracts12Unpaid Losses and Loss Expenses and Policy Benefits for Life and Annuity ContractsUnKnownUnKnownUnKnownUnKnownfalsetrue