Major Conclusions and Actions Taken
Financial Strength and Earnings Power
Currently projecting net income for 2003 of $1.7 to $1.8 billion or $1.69 to $1.79 per share, based on normal catastrophe losses, no net realized investment gains or losses and no asbestos incurrals
Currently projecting 2003 ROE of 16.7% to 17.6%
No equity financing necessary
Based on expected dividend payout, shareholders’ equity restored to pre-reserving level by mid 2003
Detailed annual asbestos disclosure on number of policyholders, annual payments and remaining reserve amounts
Rating agency announcements expected today