Performance of Insurance and Decrease in Utility Earnings

This chapter discusses the performance of their insurance business and the increase in float due to a transaction with Swiss Re. They also mention the decrease in earnings in the utility business, attributing it to a decline in the stock of Constellation Energy and a payment for options issued 10 years ago. They further mention that most of their other businesses are down due to the recession. The chapter concludes with a mention of the decrease in book value per share and the potential loss from credit default swaps.