Segment Information

The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies in Note 2 of the consolidated financial statements accompanying the 2017 Annual Report. The Company measures segment performance primarily based on profit or loss from operations before income taxes. There are no intersegment reinsurance transactions and the Company does not have any material long-lived assets.

The Company allocates capital to its segments based on an internally developed economic capital model, the purpose of which is to measure the risk in the business and to provide a basis upon which capital is deployed. The economic capital model considers the unique and specific nature of the risks inherent in the Company’s businesses. As a result of the economic capital allocation process, a portion of investment income is attributed to the segments based on the level of allocated capital. In addition, the segments are charged for excess capital utilized above the allocated economic capital basis. This charge is included in policy acquisition costs and other insurance expenses.

The Company has geographic-based and business-based operational segments. Geographic-based operations are further segmented into traditional and financial solutions businesses. Information related to revenues, income (loss) before income taxes and total assets of the Company for each reportable segment are summarized below (dollars in thousands):



	Three months ended March 31,
Revenues:	2018		2017
U.S. and Latin America:
Traditional	$	1,489,694	$	1,488,503
Financial Solutions	213,352		298,846
Total	1,703,046		1,787,349
Canada:
Traditional	302,319		264,275
Financial Solutions	12,777		11,807
Total	315,096		276,082
Europe, Middle East and Africa:
Traditional	393,782		318,086
Financial Solutions	88,143		79,989
Total	481,925		398,075
Asia Pacific:
Traditional	614,539		505,230
Financial Solutions	19,846		20,452
Total	634,385		525,682
Corporate and Other	39,255		21,552
Total	$	3,173,707	$	3,008,740



	Three months ended March 31,
Income (loss) before income taxes:	2018			2017
U.S. and Latin America:
Traditional	$	2,892		$	29,960
Financial Solutions	67,421			103,586
Total	70,313			133,546
Canada:
Traditional	23,707			19,328
Financial Solutions	3,191			3,592
Total	26,898			22,920
Europe, Middle East and Africa:
Traditional	15,421			13,976
Financial Solutions	39,164			31,918
Total	54,585			45,894
Asia Pacific:
Traditional	22,887			41,688
Financial Solutions	4,021			5,872
Total	26,908			47,560
Corporate and Other	(40,779		)	(42,076		)
Total	$	137,925		$	207,844



Assets:	March 31, 2018		December 31, 2017
U.S. and Latin America:
Traditional	$	18,839,888	$	18,603,423
Financial Solutions	16,349,148		15,959,206
Total	35,189,036		34,562,629
Canada:
Traditional	4,234,253		4,161,452
Financial Solutions	126,747		126,372
Total	4,361,000		4,287,824
Europe, Middle East and Africa:
Traditional	3,385,127		3,099,495
Financial Solutions	5,279,499		5,274,993
Total	8,664,626		8,374,488
Asia Pacific:
Traditional	5,095,054		4,915,442
Financial Solutions	1,175,002		1,198,585
Total	6,270,056		6,114,027
Corporate and Other	6,470,105		7,175,850
Total	$	60,954,823	$	60,514,818