2018 Q1 Form 10-Q Financial Statement

#000089615918000006 Filed on May 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $7.831B $7.510B
YoY Change 4.27% 9.2%
Cost Of Revenue $4.102B $3.789B
YoY Change 8.26% 3.13%
Gross Profit $3.729B $3.721B
YoY Change 0.21% 16.17%
Gross Profit Margin 47.62% 49.55%
Selling, General & Admin $695.0M $679.0M
YoY Change 2.36% -12.16%
% of Gross Profit 18.64% 18.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.464B $1.397B
YoY Change 4.8% -1.13%
% of Gross Profit 39.26% 37.54%
Operating Expenses $6.497B $6.097B
YoY Change 6.56% 1.72%
Operating Profit -$2.768B -$2.376B
YoY Change 16.5% -14.87%
Interest Expense -$98.00M -$101.0M
YoY Change -2.97% -37.27%
% of Operating Profit
Other Income/Expense, Net -$15.00M -$10.00M
YoY Change 50.0% -64.29%
Pretax Income $1.217B $1.221B
YoY Change -0.33% 116.87%
Income Tax $135.0M $128.0M
% Of Pretax Income 11.09% 10.48%
Net Earnings $1.082B $1.093B
YoY Change -1.01% 148.97%
Net Earnings / Revenue 13.82% 14.55%
Basic Earnings Per Share $2.32 $2.33
Diluted Earnings Per Share $2.30 $2.31
COMMON SHARES
Basic Shares Outstanding 465.7M shares 468.9M shares
Diluted Shares Outstanding 469.5M shares 472.7M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.988B $1.063B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $15.69B $15.39B
YoY Change 1.94% -0.11%
Intangibles $6.437B $6.674B
YoY Change -3.55% -16.1%
Long-Term Investments $102.8B $100.2B
YoY Change 2.61% 1.95%
Other Assets $125.0M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $168.8B $161.0B
YoY Change 4.85% 2.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.618B $9.073B
YoY Change -5.01% 0.25%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.669B $300.0M
YoY Change 456.33% -40.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.44B $15.17B
YoY Change 8.34% 6.21%
LONG-TERM LIABILITIES
Long-Term Debt $13.09B $12.61B
YoY Change 3.85% -2.6%
Other Long-Term Liabilities $529.0M $1.186B
YoY Change -55.4% 5.7%
Total Long-Term Liabilities $13.62B $13.79B
YoY Change -1.24% -1.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.44B $15.17B
Total Long-Term Liabilities $13.62B $13.79B
Total Liabilities $117.5B $111.7B
YoY Change 5.15% 0.9%
SHAREHOLDERS EQUITY
Retained Earnings $28.97B $24.71B
YoY Change 17.24% 24.04%
Common Stock $24.55B $11.12B
YoY Change 120.76% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.727B $1.398B
YoY Change 23.53% -15.17%
Treasury Stock Shares 13.95M shares 12.56M shares
Shareholders Equity $51.29B $49.22B
YoY Change
Total Liabilities & Shareholders Equity $168.8B $161.0B
YoY Change 4.85% 2.76%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $1.082B $1.093B
YoY Change -1.01% 148.97%
Depreciation, Depletion And Amortization $1.464B $1.397B
YoY Change 4.8% -1.13%
Cash From Operating Activities $551.0M $1.013B
YoY Change -45.61% -0.69%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $32.00M $106.0M
YoY Change -69.81% -279.66%
Cash From Investing Activities -$881.0M -$66.00M
YoY Change 1234.85% -95.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $29.00M $128.0M
YoY Change -77.34%
Debt Paid & Issued, Net $300.0M $500.0M
YoY Change -40.0%
Cash From Financing Activities 1.567B -858.0M
YoY Change -282.63% 741.18%
NET CHANGE
Cash From Operating Activities 551.0M 1.013B
Cash From Investing Activities -881.0M -66.00M
Cash From Financing Activities 1.567B -858.0M
Net Change In Cash $1.262B $72.00M
YoY Change 1652.78% -110.33%
FREE CASH FLOW
Cash From Operating Activities $551.0M $1.013B
Capital Expenditures
Free Cash Flow
YoY Change

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2113000000 USD
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72000000 USD
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1262000000 USD
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CY2018Q1 us-gaap Cash Dividends Paid To Parent Company
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CY2018Q1 us-gaap Commitments And Contingencies
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CY2017Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
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0.66
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2018Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2018Q1 us-gaap Due From Affiliates
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CY2018Q1 us-gaap Due To Affiliate Current And Noncurrent
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CY2018Q1 us-gaap Earnings Per Share Basic
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CY2018Q1 us-gaap Earnings Per Share Diluted
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25000000 USD
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4061000000 USD
CY2018Q1 us-gaap Fair Value Measurements Valuation Techniques
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CY2018Q1 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Net Carrying Amount
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CY2017Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
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191000000 USD
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CY2018Q1 us-gaap Increase Decrease In Future Policy Benefit Reserves
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CY2018Q1 us-gaap Increase Decrease In Premiums Receivable
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CY2017Q1 us-gaap Increase Decrease In Prepaid Reinsurance Premiums
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81000000 USD
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252000000 USD
CY2018Q1 us-gaap Increase Decrease In Reinsurance Payables
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250000000 USD
CY2017Q1 us-gaap Increase Decrease In Unearned Premiums
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CY2018Q1 us-gaap Increase Decrease In Unearned Premiums
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CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
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CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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307000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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-1234000000 USD
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4417000000 USD
CY2018Q1 us-gaap Other Investments And Securities At Cost
OtherInvestmentsAndSecuritiesAtCost
4919000000 USD
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17849000000 USD
CY2018Q1 us-gaap Other Liabilities
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17273000000 USD
CY2017Q4 us-gaap Other Long Term Investments
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4672000000 USD
CY2018Q1 us-gaap Other Long Term Investments
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4919000000 USD
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70000000 USD
CY2018Q1 us-gaap Other Operating Income Expense Net
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47000000 USD
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1000000 USD
CY2018Q1 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
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0 USD
CY2017Q1 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
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0 USD
CY2018Q1 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
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0 USD
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OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
35000000 USD
CY2017Q1 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
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32000000 USD
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22000000 USD
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15000000 USD
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4000000 USD
CY2018Q1 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
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7000000 USD
CY2017Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
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0 USD
CY2018Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
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0 USD
CY2017Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
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19000000 USD
CY2018Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
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1000000 USD
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3907000000 USD
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CY2018Q1 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
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0 USD
CY2017Q1 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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89000000 USD
CY2018Q1 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
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32000000 USD
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128000000 USD
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29000000 USD
CY2017Q1 us-gaap Payments For Securities Purchased Under Agreements To Resell
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752000000 USD
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404000000 USD
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324000000 USD
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330000000 USD
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6250000000 USD
CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
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5972000000 USD
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PaymentsToAcquireAvailableForSaleSecuritiesEquity
37000000 USD
CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities Equity
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55000000 USD
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157000000 USD
CY2018Q1 us-gaap Payments To Acquire Held To Maturity Securities
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162000000 USD
CY2017Q1 us-gaap Payments To Acquire Limited Partnership Interests
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198000000 USD
CY2018Q1 us-gaap Payments To Acquire Limited Partnership Interests
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353000000 USD
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1434000000 USD
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1460000000 USD
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CY2018Q1 us-gaap Policyholder Benefits And Claims Incurred Net
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4102000000 USD
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6772000000 USD
CY2018Q1 us-gaap Premiums Earned Net
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9334000000 USD
CY2018Q1 us-gaap Premiums Receivable At Carrying Value
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9570000000 USD
CY2017Q1 us-gaap Premiums Written Net
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6710000000 USD
CY2018Q1 us-gaap Premiums Written Net
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7104000000 USD
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2529000000 USD
CY2018Q1 us-gaap Prepaid Reinsurance Premiums
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2600000000 USD
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85000000 USD
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12000000 USD
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CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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42000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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34000000 USD
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2543000000 USD
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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1865000000 USD
CY2017Q1 us-gaap Proceeds From Limited Partnership Investments
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315000000 USD
CY2018Q1 us-gaap Proceeds From Limited Partnership Investments
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201000000 USD
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240000000 USD
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
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255000000 USD
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753000000 USD
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408000000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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3395000000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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2562000000 USD
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46000000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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40000000 USD
CY2017Q1 us-gaap Proceeds From Short Term Debt
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CY2018Q1 us-gaap Proceeds From Short Term Debt
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408000000 USD
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1139000000 USD
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12000000 USD
CY2018Q1 us-gaap Realized Gain Loss On Marketable Securities And Cost Method Investments Excluding Other Than Temporary Impairments And Other Investments
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CY2018Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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-23000000 USD
CY2017Q4 us-gaap Reinsurance Payable
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CY2018Q1 us-gaap Reinsurance Payable
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14014000000 USD
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300000000 USD
CY2017Q1 us-gaap Reinsurance Recoverables Allowance
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334000000 USD
CY2017Q4 us-gaap Reinsurance Recoverables Allowance
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321000000 USD
CY2018Q1 us-gaap Reinsurance Recoverables Allowance
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320000000 USD
CY2017Q1 us-gaap Reinsurance Recoverables Gross
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12811000000 USD
CY2018Q1 us-gaap Reinsurance Recoverables Gross
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13822000000 USD
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500000000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
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300000000 USD
CY2017Q1 us-gaap Repayments Of Short Term Debt
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CY2018Q1 us-gaap Repayments Of Short Term Debt
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404000000 USD
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123000000 USD
CY2018Q1 us-gaap Restricted Cash
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125000000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
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123000000 USD
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125000000 USD
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CY2018Q1 us-gaap Restricted Investments
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23600000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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27474000000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2017Q1 us-gaap Revenues
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CY2018Q1 us-gaap Short Term Investments
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4358000000 USD
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15495000000 USD
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Refer to the</font><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;color:#ff0000;"> </font><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">2017</font><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;"> Form 10-K for information on other accounting guidance not yet adopted.</font></div></div>
CY2018Q1 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:</font></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:75%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">Three Months Ended March 31</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">(in millions of U.S. dollars)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">2017</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Gross unpaid losses and loss expenses &#8211; beginning of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">63,179</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">60,540</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Reinsurance recoverable on unpaid losses - beginning of period </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">(14,014</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">(12,708</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Net unpaid losses and loss expenses &#8211; beginning of period</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">49,165</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">47,832</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Net losses and loss expenses incurred in respect of losses occurring in:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Current year</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">4,358</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">4,078</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Prior years </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(2)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">(256</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">(289</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Total</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">4,102</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">3,789</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Net losses and loss expenses paid in respect of losses occurring in:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Current year</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">809</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">798</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Prior years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">3,433</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">3,109</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Total</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">4,242</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">3,907</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Foreign currency revaluation and other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">292</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">54</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Net unpaid losses and loss expenses &#8211; end of period</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">49,317</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">47,768</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Reinsurance recoverable on unpaid losses </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(3)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">13,822</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">12,811</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">Gross unpaid losses and loss expenses &#8211; end of period</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;font-weight:bold;">63,139</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8.5pt;"><font style="font-family:News Gothic,sans-serif;font-size:8.5pt;">60,579</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:News Gothic,sans-serif;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(1)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:7pt;"><font style="font-family:News Gothic,sans-serif;font-size:7pt;">Net of provision for uncollectible reinsurance of </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;">$321 million</font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"> and </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;">$300 million</font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"> at December 31, 2017 and 2016, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:News Gothic,sans-serif;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(2)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:7pt;"><font style="font-family:News Gothic,sans-serif;font-size:7pt;">Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, and earned premiums totaling </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;">$47 million</font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"> and </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;">$58 million</font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"> for the three months ended </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;">March&#160;31, 2018</font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"> and 2017, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:News Gothic,sans-serif;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(3)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:7pt;"><font style="font-family:News Gothic,sans-serif;font-size:7pt;">Net of provision for uncollectible reinsurance of </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;">$320 million</font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"> and </font><font style="font-family:News Gothic,sans-serif;font-size:7pt;">$334 million</font><font style="font-family:News Gothic,sans-serif;font-size:7pt;"> at March&#160;31, 2018 and 2017, respectively.</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;"><br clear="none"/></font></div></div>

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