|
|
|
|
|
|
|
|
|
|
|
2002 |
|
|
2001 |
|
|
|
(Dollars in millions, except per share data) |
|
|
|
|
|
|
FOR THE YEAR |
|
|
|
|
|
|
Revenues(1) |
|
$ |
8,918 |
|
$ |
8,919 |
Operating earnings (loss)(1) |
|
|
290 |
|
|
(941) |
Operating earnings (loss) per common share(1) |
|
|
1.24 |
|
|
(4.52) |
Operating earnings (loss) return on beginning common equity(2) |
|
|
6.1% |
|
|
(13.6%) |
Net income (loss) |
|
|
218 |
|
|
(1,088) |
Net income (loss) per common share
|
|
|
0.92 |
|
|
(5.22) |
Dividends paid per common share |
|
|
1.15 |
|
|
1.11 |
|
|
|
|
|
|
|
|
|
|
AT YEAR END
|
|
|
|
|
|
|
Total investments
|
|
$ |
22,733 |
|
$ |
22,178 |
Total assets
|
|
|
39,920 |
|
|
38,321 |
Common shareholders equity
|
|
|
5,681 |
|
|
5,056 |
Book value per common share
|
|
|
25.05 |
|
|
24.35 |
Market value per common share
|
|
|
34.05 |
|
|
43.97 |
Common shares outstanding
|
|
|
226,798,457 |
|
|
207,624,375 |
Debt as a percentage of total capitalization
|
|
|
29% |
|
|
26% |
Total employees
|
|
|
9,700 |
|
|
10,200 |
|
|
|
(1) From continuing operations. Operating earnings represent net income excluding after-tax realized gains and after-tax losses from discontinued operations.
(2) Equity excludes unrealized appreciation on fixed income investments.
|
|