OPERATING RESULTS, PROPERTY/CASUALTY INSURANCE, 2002-2011 (1)

($ millions)

Year Net underwriting gain/loss Net investment income earned Net realized capital gain/loss Policyholder dividends Taxes (2) Net income after taxes (3)
2002 -$28,830 $39,511 $3,011 $1,977 $1,882 $8,834
2003 -3,489 39,656 6,422 1,910 10,624 30,033
2004 5,512 40,515 9,112 1,818 14,584 38,404
2005 -3,794 50,127 12,096 1,986 10,746 46,761
2006 34,747 53,142 3,577 3,611 22,502 66,448
2007 21,634 56,499 9,022 2,764 19,858 63,619
2008 -19,648 53,133 -20,106 2,189 7,881 3,709
2009 1,442 48,402 -7,798 2,133 8,666 32,203
2010 -8,323 48,099 7,829 2,702 8,833 37,218
2011 -35,306 50,972 7,576 2,315 3,027 20,124

(1) Excludes state funds.
(2) Includes federal and foreign taxes.
(3) Does not equal the sum of the columns shown due to the omission of miscellaneous income.

Source: SNL Financial LC.