Financial review
Other businesses
| in USD millions, for the years ended December 31 | 2006 | 2005 | Change |
|---|---|---|---|
| Net earned premiums and policy fees | 2,338 | 3,057 | (24%) |
| Net investment result | 1,969 | 2,037 | (3%) |
| Total benefits, losses and expenses | (3,923) | (4,863) | 19% |
| Business operating profit | 554 | 413 | 34% |
Business operating profit increased by USD 141 million with solid contributions from both Farmers Re and Centre. Farmers Re contributed USD 181 million to Other Businesses business operating profit. The effect of lower levels of reinsurance ceded by the Exchanges to Farmers Re in 2006 more than offset improved loss development primarily due to the more benign catastrophe experience in 2006. Other operations within the segment contributed USD 373 million with profits arising in certain run-off businesses, including Centre’s contribution of USD 246 million.
