I hate the word universal, because I don't know exactly what it means. The question is, does it work for the client? Travelers was a diversified, financial conglomerate that did very well. The businesses had nothing to do with each other.

It's offensive to me to be called a cost cutter.

Good regulation should be conducive to business and to customer protection.

The country [India] is doing far better.

Just because you have a good hand today doesn't mean it's good tomorrow. And some of the things we're doing may become very disadvantageous at some point.

Acting like everyone who's been successful is bad and because you're rich you're bad, I don't understand it.

We invested in the downturn and we never stopped serving our clients.