Travelers 2008 Annual Report Download - page 254

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
17. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND
SUBSIDIARIES (Continued)
CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2006
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Revenues
Premiums ........................ $13,861 $6,899 $ — $ — $20,760
Net investment income .............. 2,357 1,059 103 (2) 3,517
Fee income ....................... 589 2 — — 591
Net realized investment gains (losses) .... (11) 46 (24) — 11
Other revenues .................... 104 64 54 (11) 211
Total revenues ................... 16,900 8,070 133 (13) 25,090
Claims and expenses
Claims and claim adjustment expenses . . . 8,116 4,128 — — 12,244
Amortization of deferred acquisition costs . 2,228 1,111 — — 3,339
General and administrative expenses ..... 2,309 1,120 29 — 3,458
Interest expense ................... 117 8 212 (13) 324
Total claims and expenses .......... 12,770 6,367 241 (13) 19,365
Income (loss) before income taxes ..... 4,130 1,703 (108) — 5,725
Income tax expense (benefit) .......... 1,118 436 (37) — 1,517
Equity in net income of subsidiaries ..... — — 4,279 (4,279) —
Net income ..................... $ 3,012 $1,267 $4,208 $(4,279) $ 4,208
(1) The Travelers Companies, Inc., excluding its subsidiaries.
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