Financial Highlights

(expressed in millions of U.S. dollars, except per share data)

For the years ended December 31, 2005	2006	2007	2008	2009
$3,616	$3,689	$3,757	$3,989	$3,949	Net premiums written
4,206	4,187	4,211	3,980	5,418	Total revenues
(51)	749	718	47	1,573	Net (loss) income
(252)	656	822	469	932	Operating (loss) earnings available to common shareholders
					(Loss) Earnings per common share:
$(4.59)	$11.36	$14.29	$8.43	$14.59	Diluted operating (loss) earnings per share
(1.56)	12.37	11.87	0.22	23.51	Diluted net (loss) income per share
(8.9)%	25.5%	25.2%	12.3%	22.3%	Operating return on beginning common shareholder's equity
(3.0)%	27.8%	20.9%	0.3%	37.5%	Return on beginning common shareholders’ equity calculated with net (loss) income available to common shareholders
					Non-life ratios:
87.3%	54.8%	50.8%	63.9%	52.7%	Loss ratio
23.0	23.1	22.9	23.3	21.9	Acquisition ratio
6.0	6.5	6.7	6.9	7.2	Other operating expense ratio
116.3%	84.4%	80.4%	94.1%	81.8%	Combined ratio
At December 31, 2005	2006	2007	2008	2009
$13,783	$15,034	$16,149	$16,279	$23,733	Total assets
3,093	3,786	4,322	4,199	7,646	Total shareholder's equity
44.57	56.07	67.96	63.95	84.51	Diluted book value per common and common share equivalents
3,725	4,054	4,477	4,023	6,165	Market capitalization