Transatlantic results 2010
Transatlantic Holdings, Inc consolidated results year ended 31 December ● US$ mn Category 2006 2007 2008 2009 2010 Gross written premium 3,983.42 4,283.56 4,423.24 4,203.78 4,132.93 Net written premium 3,633.44 3,952.90 4,108.09 3,986.10 3,881.69 Increased NWP % 4.8 8.8 3.9 (3.0) (2.6) Retention 91.2 92.3 92.9 94.8 93.9 Net earned premium 3,604.09 3,902.67 4,067.39 4,039.08 3,858.62 Claims incurred 2,462.67 2,638.03 2,907.23 2,679.17 2,681.77 Claims incurred % NEP 68.3 67.6 71.5 66.3 69.5 Operating expenses 992.53 1,078.98 1,105.22 1,098.51 1,107.55 Operating expenses % NWP 27.3 27.3 26.9 27.6 28.5 Underwriting result 148.89 185.66 54.94 261.41 69.30 Underwriting result % NWP 4.1 4.7 1.3 6.6 1.8 Combined ratio 95.9 95.2 98.6 93.5 98.2 Life GWP - - - - - Life NWP - - - - - Life result - - - - - Net investment income 434.54 469.77 440.45 467.40 473.55 Net realised gains/(losses) 10.86 9.39 (435.54) (70.64) 30.10 Pre-tax result 539.91 595.75 3.22 596.03 472.79 Pre-tax % NWP 14.9 15.1 0.1 15.0 12.2 Net result 428.15 487.14 102.25 477.66 402.20 Shareholders' funds 2,958.27 3,349.04 3,198.22 4,034.38 4,284.46 Solvency margin 81.4 84.7 77.9 101.2 110.4 Unearned premium reserve 1,144.02 1,226.65 1,220.13 1,187.53 1,212.54 Outstanding claims reserve 6,207.22 6,899.72 7,349.08 7,871.83 8,214.77 Total technical provisions 7,351.24 8,126.37 8,569.21 9,059.36 9,427.31 Technical reserves as % NWP 202.3 205.6 208.6 227.3 242.9 Overall coverage as % NWP 283.7 290.3 286.4 328.5 353.2