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This excerpt taken from the ALL 8-K filed Feb 10, 2010. Underwriting income
(loss) is calculated as premiums earned, less claims and claims
expense (“losses”), amortization of DAC, operating costs and expenses and
restructuring and related charges as determined using GAAP. Management uses this measure in its
evaluation of the results of operations to analyze the profitability of our
Property-Liability insurance operations separately from investment
results. It is also an integral
component of incentive compensation. It
is useful for investors to evaluate the components of income separately and in
the aggregate when reviewing performance.
Net income (loss) is the most directly comparable GAAP measure. Underwriting income (loss) should not be
considered as a substitute for net income (loss) and does not reflect the
overall profitability of our business. A
reconciliation of Property-Liability underwriting income (loss) to net income
(loss) is provided in the schedule, “Property-Liability Results”.
This excerpt taken from the ALL 8-K filed Jul 20, 2005. Underwriting
income (loss) is calculated as premiums earned, less claims
and claims expense (“losses”), amortization of DAC, operating costs and
expenses and restructuring and related charges as determined using GAAP.
Management uses this measure in its evaluation of results of operations to
analyze the profitability of our Property-Liability insurance operations separately
from investment results. It is also an integral component of incentive
compensation. It is useful for investors to evaluate the components of
income separately and in the aggregate when reviewing performance. Net income
is the most directly comparable GAAP measure. Underwriting income (loss) should
not be considered as a substitute for net income and does not reflect the
overall profitability of our business. A reconciliation of
Property-Liability underwriting income to net income is provided in the Segment
Results table.
This excerpt taken from the ALL 8-K filed Apr 20, 2005. Underwriting
income (loss) is calculated as premiums earned, less claims
and claims expense (“losses”), amortization of DAC, operating costs and
expenses and restructuring and related charges as determined using GAAP.
Management uses this measure in its evaluation of results of operations to analyze
the profitability of our Property-Liability insurance operations separately
from investment results. It is also an integral component of incentive
compensation. It is useful for investors to evaluate the components of
income separately and in the aggregate when reviewing performance. Net income
is the most directly comparable GAAP measure. Underwriting income (loss) should
not be considered as a substitute for net income and does not reflect the
overall profitability of our business. A reconciliation of
Property-Liability underwriting income to net income is provided in the Segment
Results table.
20
This excerpt taken from the ALL 8-K filed Feb 2, 2005. Underwriting
income (loss) is calculated as premiums earned, less claims
and claims expense (“losses”), amortization of DAC, operating costs and
expenses and restructuring and related charges as determined using GAAP.
Management uses this measure in its evaluation of results of operations to
analyze the profitability of our Property-Liability insurance operations
separately from investment results. It is also an integral component of
incentive compensation. It is useful for investors to evaluate the components
of income separately and in the aggregate when reviewing performance. Net
income is the most directly comparable GAAP measure. Underwriting income (loss)
should not be considered as a substitute for net income and does not reflect
the overall profitability of our business. A reconciliation of
Property-Liability underwriting income to net income is provided in the Segment
Results table.
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