Summary unaudited consolidated financial data for the three and six months ended June 30, for each of 2002 and 2001, respectively, is set forth below (in millions except per share amounts):

Three months ended June 30

(Unaudited)

Six months ended June 30

(Unaudited)

2002 2001 2002 2001

Gross premiums written $ 1,546.9 $ 1,005.8 $ 4,397.1 $ 2,156.7

Net premiums written 1,147.4 749.2 3,351.7 1,561.4

Net premiums earned 1,078.7 641.0 2,150.8 1,183.1

Net (loss) income (91.7) 128.6 (2.3) 347.5

Net operating income (a) 25.0 160.1 235.4 316.8

Per share results:

Net (loss) income (b) $ (0.68) $ 1.01 $ (0.02) $ 2.72

Net operating income (a) 0.18 1.25 1.71 2.48

Average shares outstanding :

Basic (b) 135.7 125.4 135.4 125.3

Fully diluted (b) 138.2 127.8 137.7 127.5

Notes:

(a) Net operating income is net income excluding net realized gains and losses on

investments and net realized and unrealized gains and losses on derivatives, net of

tax.

(b) Average stock options outstanding have been excluded where anti-dilutive to

earnings per share. Consequently, where there is a net loss, basic shares outstanding

represents fully diluted shares outstanding.