It is derived by substituting equation (7) into equation (8), then substituting expressions for THL, equation (5), and
AIHL, equation (6), into the result.
The decrease in
AIHL's pre-tax earnings in the 2010 fourth quarter primarily reflects a decrease in
AIHL insurance group underwriting profit, mainly due to lower net premiums earned and higher property losses (both catastrophe and non-catastrophe) at RSUI, and a decrease in
AIHL net realized capital gains.
an increase in earnings from continuing operations before income taxes at
AIHL primarily due to a decrease in other-than-temporary impairment losses; an increase in net realized capital gains; and an increase in underwriting profit at RSUI, principally reflecting minimal catastrophe losses in 2009, compared with approximately $97.
an increase in earnings from continuing operations before income taxes at
AIHL primarily due to (i) an increase in underwriting profit at RSUI, principally reflecting minimal catastrophe losses in the 2009 period compared with approximately $99.
a decrease in earnings from continuing operations before income taxes at
AIHL primarily due to: (i) an increase in EDC's underwriting loss principally as a result of the factors discussed above with respect to the 2009 second quarter; (ii) a decrease in underwriting profit at RSUI primarily due to lower net premiums earned resulting from the impact of continuing competition, partially offset by a decrease in loss and loss adjustment expenses primarily as a result of lower net premium volume and lower property losses; and (iii) an increase in other than temporary impairment losses with respect to
AIHL's investment portfolio; partially offset by
The quota share reinsurance support for ASIC's business, effective April 1, 2009, represents substantial, additional explicit support for the company by
AIHL.
RSUI"), Capitol Transamerica Corporation ("CATA") and Employers Direct Corporation ("EDC"), as well as
AIHL Re LLC ("
AIHL Re").
2 million at
AIHL for the first nine months of 2008 primarily reflecting $114.
RSUI"), Capitol Transamerica Corporation ("CATA"), and Employers Direct Corporation ("EDC"), as well as
AIHL Re LLC ("
AIHL Re").
Darwin") and Employers Direct Corporation ("EDC"), as well as
AIHL Re LLC ("
AIHL Re")), and corporate activities (consisting of Alleghany Properties LLC, Alleghany's investment in Homesite Group Incorporated and corporate activities at the parent level), were as follows (in millions):
Darwin"), as well as
AIHL Re LLC ("
AIHL Re")), and corporate activities (consisting of Alleghany Properties LLC, Alleghany's investment in Homesite Group Incorporated and corporate activities at the parent level), during the three months December 31, 2007 and 2006 were as follows (in millions):
AIHL include the results of EDC, net of purchase accounting adjustments, commencing July 18, 2007.