...First, we saw unprecedented losses from COVID-19 driven by business interruption, event cancellation and mortality claims. The burden on our pretax earnings from these losses was $3.9 billion. Second, we saw elevated nat cat losses especially from the Atlantic hurricane season, secondary perils across the globe and significant manmade losses, including the Beirut port explosion. These claims totaled $2.1 billion. Third and in spite of the large losses, the underlying performance of our P&C businesses was strong. In P&C Re, the 97% normalized combined ratio was in line with guidance, and the ex COVID ROE was 13.2%. In Corporate Solutions, the normalized combined ratio was 97%, was well ahead of our 105% estimate, a clear demonstration that the turnaround here is ahead of plan. Fourth, Life & Health Re delivered an ROE of 10.4% excluding COVID-19, once again delivering its target result as the franchise continues to grow. Fifth, iptiQ maintained its strong momentum with 76% premium growth...
