Financial Summary
Strong balance sheet
- Well capitalized: GAAP equity (ex SFAS 115) of $9.4 billion at December 31, 2002, expected to grow to approximately $10.9 billion by December 31, 2003
- Conservatively leveraged: Total Debt and TRUPS ratio of 26.6% at December 31, 2002, expected to decline to approximately 19.8% by December 31, 2003
Currently projecting record net and operating income of $1.7 to $1.8 billion in 2003
- Expect no asbestos incurrals in 2003
- ROE of 16.7% to 17.6% in 2003
- Current projections based on various assumptions, including normal catastrophe losses, no net realized investment gains or losses and no asbestos incurral