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Condensed Unaudited Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Condensed unaudited quarterly financial data | Condensed unaudited quarterly financial data
| Three Months Ended |
| March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
(in millions of U.S. dollars, except per share data) | 2017 |  |  | 2017 |  |  | 2017 |  |  | 2017 |
Net premiums earned | $ | 6,772 |  |  | $ | 7,237 |  |  | $ | 7,807 |  |  | $ | 7,218 |
Net investment income | 745 |  |  | 770 |  |  | 813 |  |  | 797 |
Net realized gains (losses) including OTTI | (7 | ) |  | 101 |  |  | (10 | ) |  | — |
Total revenues | $ | 7,510 |  |  | $ | 8,108 |  |  | $ | 8,610 |  |  | $ | 8,015 |
Losses and loss expenses | $ | 3,789 |  |  | $ | 4,146 |  |  | $ | 6,247 |  |  | $ | 4,272 |
Policy benefits | $ | 168 |  |  | $ | 163 |  |  | $ | 169 |  |  | $ | 176 |
Net income (loss) | $ | 1,093 |  |  | $ | 1,305 |  |  | $ | (70 | ) |  | $ | 1,533 |
Basic earnings (loss) per share | $ | 2.33 |  |  | $ | 2.79 |  |  | $ | (0.15 | ) |  | $ | 3.29 |
Diluted earnings (loss) per share | $ | 2.31 |  |  | $ | 2.77 |  |  | $ | (0.15 | ) |  | $ | 3.27 |
Net income for the three months ended September 30, 2017 included after-tax catastrophe losses of $1.5 billion. Net income for the three months ended December 31, 2017 included a one-time income tax transition benefit of $450 million related to the 2017 Tax Act. Refer to Note 8 for additional information.
| Three Months Ended |
| March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
(in millions of U.S. dollars, except per share data) | 2016 |  |  | 2016 |  |  | 2016 |  |  | 2016 |
Net premiums earned | $ | 6,597 |  |  | $ | 7,405 |  |  | $ | 7,688 |  |  | $ | 7,059 |
Net investment income | 674 |  |  | 708 |  |  | 739 |  |  | 744 |
Net realized gains (losses) including OTTI | (394 | ) |  | (216 | ) |  | 100 |  |  | 365 |
Total revenues | $ | 6,877 |  |  | $ | 7,897 |  |  | $ | 8,527 |  |  | $ | 8,168 |
Losses and loss expenses | $ | 3,674 |  |  | $ | 4,254 |  |  | $ | 4,269 |  |  | $ | 3,855 |
Policy benefits | $ | 126 |  |  | $ | 146 |  |  | $ | 155 |  |  | $ | 161 |
Net income | $ | 439 |  |  | $ | 726 |  |  | $ | 1,360 |  |  | $ | 1,610 |
Basic earnings per share | $ | 0.98 |  |  | $ | 1.55 |  |  | $ | 2.90 |  |  | $ | 3.44 |
Diluted earnings per share | $ | 0.97 |  |  | $ | 1.54 |  |  | $ | 2.88 |  |  | $ | 3.41 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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