Other-Than-Temporary Impairments on Investment Securities.
In April 2009, the FASB revised the authoritative guidance for the recognition and presentation of other-than-temporary impairments.
This new guidance amends the recognition guidance for other-than-temporary impairments of debt securities and expands the financial statement disclosures for other-than-temporary impairments on debt and equity securities.
For available for sale debt securities that the Company has no intent to sell and more likely than not will not be required to sell prior to recovery, only the credit loss component of the impairment would be recognized in earnings, while the rest of the fair value loss would be recognized in accumulated other comprehensive income (loss).
The Company adopted this guidance effective April 1, 2009.
Upon adoption the Company recognized a cumulative-effect adjustment increase in retained earnings (deficit) and decrease in accumulated other comprehensive income (loss) as follows:
## Table 0 ##
Measurement of Fair Value in Inactive Markets.
In April 2009, the FASB revised the authoritative guidance for fair value measurements and disclosures, which reaffirms that fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions.
It also reaffirms the need to use judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive.
There was no impact to the Company’s financial statements upon adoption.
Fair Value Disclosures about Pension Plan Assets.
In December 2008, the FASB revised the authoritative guidance for employers’ disclosures about pension plan assets.
This new guidance requires additional disclosures about the components of plan assets, investment strategies for plan assets and significant concentrations of risk within plan assets.
The Company, in conjunction with fair value measurement of plan assets, separated plan assets into the three fair value hierarchy levels and provided a roll forward of the changes in fair value of plan assets classified as Level 3 in the 2009 annual consolidated financial statements.
These disclosures had no effect on the Company’s accounting for plan benefits and obligations.
Revisions to Earnings per Share Calculation.
In June 2008, the FASB revised the authoritative guidance for earnings per share for determining whether instruments granted in share-based payment transactions are participating securities.
This new guidance requires unvested share-based payment awards that contain nonforfeitable rights to dividends be considered as a separate class of common stock and included in the earnings per share calculation using the two-class method.
The Company’s restricted share awards meet this definition and are therefore included in the basic earnings per share calculation.
Additional Disclosures for Derivative Instruments.
In March 2008, the FASB issued authoritative guidance for derivative instruments and hedging activities, which requires enhanced disclosures on derivative instruments and hedged items.
On January 1, 2009, the Company adopted the additional disclosure for the equity index put options.
No comparative information for periods prior to the effective date was required.
This guidance had no impact on how the Company records its derivatives.
Future Policy Benefit Reserves.
The Company wrote a limited amount of life and annuity reinsurance in its Bermuda segment.
Future policy benefit liabilities for annuities are reported at the accumulated fund balance of these contracts.
Reserves for those liabilities include mortality provisions with respect to life and annuity claims, both reported and unreported.
Actual experience in a particular period may be worse than assumed experience and, consequently, may adversely affect the Company’s operating results for that period.
See ITEM 8, “Financial Statements and Supplementary Data” - Note 1F of Notes to Consolidated Financial Statements.
Activity in the reserve for future policy benefits is summarized for the periods indicated:
## Table 1 ##
Investments.
The board of directors of each of the Company’s operating subsidiaries is responsible for establishing investment policy and guidelines and, together with senior management, for overseeing their execution.
The Company’s principal investment objectives are to ensure funds are available to meet its insurance and reinsurance obligations and to maximize after-tax investment income while maintaining a high quality diversified investment portfolio.
Considering these objectives, the Company views its investment portfolio as having two components: 1) the investments needed to satisfy outstanding liabilities (its core fixed maturities portfolio) and 2) investments funded by the Company’s shareholders’ equity.
For the portion needed to satisfy global outstanding liabilities, the Company generally invests in taxable and tax-preferenced fixed income securities with an average credit quality of Aa2, as rated by Moody’s Investors Service, Inc.  (“Moody’s”).
For the U. S.  portion of this portfolio, the Company’s mix of taxable and taxpreferenced investments is adjusted periodically, consistent with the Company’s current and projected U. S.  operating results, market conditions and the Company’s tax position.
This global fixed maturity securities portfolio is externally managed by an independent, professional investment manager using portfolio guidelines approved by the Company.
Over the past few years and particularly in 2010, the Company expanded the allocation of its investments funded by shareholders’ equity to include: 1) a greater percentage of publicly traded equity securities, 2) emerging market fixed maturities through mutual fund structures, 3) high yield fixed maturities, 4) bank loan securities and 5) private equity limited partnership investments.
The objective of this portfolio diversification is to enhance the risk-adjusted total return of the investment portfolio by allocating a prudent portion of the portfolio to higher return asset classes, which are also less subject to changes in value with movements in interest rates.
The Company limits its allocation to these asset classes because of 1) the potential for volatility in their values and 2) the impact of these investments on regulatory and rating agency capital adequacy models.
The Company use investment managers experienced in these markets and adjusts its allocation to these investments based upon market conditions.
At December 31, 2010, the market value of investments in these investment market sectors, carried at both market and fair value, approximated 36% of shareholders’ equity.
The duration of an investment is based on the maturity of the security but also reflects the payment of interest and the possibility of early prepayments.
The Company’s fixed income investment guidelines include a general duration guideline.
This investment duration guideline is established and periodically revised by management, which considers economic and business factors, as well as the Company’s average duration of potential liabilities, which, at December 31, 2010, is estimated at approximately 3.8 years, based on the estimated payouts of underwriting liabilities using standard duration calculations.
Incurred Losses and LAE.
The following table presents the incurred losses and LAE for the International segment for the periods indicated.
## Table 2 ##
Incurred losses and LAE increased 71.2% to $1,050.1 million in 2010 compared to $613.3 in 2009.
The increase was principally due to a $417.3 million (35.3 points) increase in current year catastrophes related to the Chilean earthquake, the Australian hailstorms and floods, the New Zealand earthquake and the Canadian hailstorm compared to the absence in 2009 of any similar large events.
Attritional losses also increased, primarily due to an increase in premiums earned and higher expected loss ratios, which were partially offset by favorable development on prior years’ reserves.
Incurred losses and LAE increased 21.5% to $613.3 million in 2009 compared to $504.8 million in 2008.
The increase was primarily due to reserve strengthening of prior years’ non-catastrophe attritional losses in 2009 of $19.4 million compared to 2008’s favorable prior years’ non-catastrophe attritional development of $33.5 million.
Current year attritional losses were higher primarily due to the increase in earned premiums.
Current year catastrophe losses were flat year over year.
Segment Expenses. .  Commission and brokerage increased 8.0% to $288.4 million in 2010 compared to $267.1 million in 2009.
The increase was primarily in line with the increases in premiums earned.
Segment other underwriting expenses increased to $27.6 million in 2010 compared to $23.1 million in 2009.
The increase was consistent with the growth in premiums earned resulting in stable other underwriting expense ratios for the periods.
Commission and brokerage increased 15.7% to $267.1 million in 2009 compared to $230.9 million in 2008.
The increase was primarily due to the growth in premiums earned in conjunction with the blend of business mix.
Segment other underwriting expenses in 2009 increased to $23.1 million compared to $19.8 million in 2008, consistent with growth in business.
Year Ended December 31, 2012 Compared to Year Ended December 31, 2011 Revenue:
## Table 3 ##
The Company’s revenue increased 15.4% in 2012 as compared to 2011, including increases in all major revenue categories.
The Company's revenue included Apache operations for the full year in 2012 of $62.0 million as compared to five months in 2011 of $14.5 million.
The growth was partially influenced by benefits from the Company’s continued investment in its global sales and marketing organization.
Revenue from lease licenses increased 28.1% as compared to the prior year due to an increase in Apache-related lease license revenue and growth in sales of other lease licenses.
Annual maintenance contracts that were sold with new perpetual licenses, along with maintenance contracts sold with new perpetual licenses in previous years, contributed to maintenance revenue growth of 11.7%.
Perpetual license revenue, which is derived entirely from new sales during the period, increased 7.1% as compared to the prior year.
Esterel-related revenue for the period from the acquisition date (August 1, 2012) through December 31, 2012 was $3.3 million.
Service revenue increased 8.6% as compared to the prior year, primarily from increased revenue associated with engineering consulting services.
With respect to revenue, on average for the year ended December 31, 2012, the U. S.  Dollar was 3.7% stronger, when measured against the Company’s primary foreign currencies, than for the year ended December 31, 2011.
The net overall strengthening of the U. S.  Dollar resulted in decreased revenue and operating income during 2012, as compared to 2011, of $15.4 million and $7.4 million, respectively.
International and domestic revenues, as a percentage of total revenue, were 66.7% and 33.3%, respectively, during the year ended December 31, 2012, and 68.8% and 31.2%, respectively, during the year ended December 31, 2011.
The Company derived 26.0% and 26.4% of its total revenue through the indirect sales channel for the years ended December 31, 2012 and 2011, respectively.
In valuing deferred revenue on the Esterel and Apache balance sheets as of their respective acquisition dates, the Company applied the fair value provisions applicable to the accounting for business combinations, resulting in lower amounts of revenue than Esterel and Apache would have recognized absent the acquisitions.
The impact on reported revenue for the year ended December 31, 2012 was $9.6 million.
x The Committee's assessment of other elements of compensation provided to the Named Executive Officer.
The corporate and business unit goals and objectives vary by individual officers and include, among other things, corporate and business unit financial performance, capital expenditures, cost containment, safety, reliability, customer service, business development and regulatory matters.
The use of "internal pay equity" in setting merit increases is limited to determining whether a change in an executive officer's role and responsibilities relative to other executive officers requires an adjustment in the officer's salary.
The Committee has not established any predetermined formula against which the base salary of one Named Executive Officer is measured against another officer or employee.
In 2008, on the basis of the market data and other factors described above, merit-based salary increases for the Named Executive Officers were approved in amounts ranging from 3.2 to 5.2 percent.
In general these merit-based increases were consistent with the merit increase percentages approved with respect to Named Executive Officers in the last two years (excluding adjustments in salaries related to market factors, promotions or other changes in job responsibilities).
The following table sets forth the 2007 base salaries for the Named Executive Officers, the 2008 percentage increase and the resulting 2008 base salary.

<table><tr><td>Cumulative-effect adjustment, gross</td><td>$65,658</td></tr><tr><td>Tax</td><td>-8,346</td></tr><tr><td>Cumulative-effect adjustment, net</td><td>$57,312</td></tr></table>
<table><tr><td></td><td colspan="3">At December 31,</td></tr><tr><td>(Dollars in millions)</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Balance at beginning of year</td><td>$64.5</td><td>$66.2</td><td>$78.4</td></tr><tr><td>Liabilities assumed</td><td>0.2</td><td>0.3</td><td>0.2</td></tr><tr><td>Adjustments to reserves</td><td>2.9</td><td>8.8</td><td>6.5</td></tr><tr><td>Benefits paid in the current year</td><td>-4.7</td><td>-10.8</td><td>-19.0</td></tr><tr><td>Balance at end of year</td><td>$63.0</td><td>$64.5</td><td>$66.2</td></tr><tr><td>(Some amounts may not reconcile due to rounding.)</td><td></td><td></td><td></td></tr></table>
<table><tr><td></td><td colspan="8">Years Ended December 31,</td><td></td></tr><tr><td>(Dollars in millions)</td><td>Current Year</td><td colspan="2">Ratio %/ Pt Change</td><td>Prior Years</td><td colspan="2">Ratio %/ Pt Change</td><td>Total Incurred</td><td colspan="2">Ratio %/ Pt Change</td></tr><tr><td>2010</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$647.7</td><td>55.5%</td><td></td><td>$-41.9</td><td>-3.6%</td><td></td><td>$605.8</td><td>51.9%</td><td></td></tr><tr><td>Catastrophes</td><td>460.7</td><td>39.4%</td><td></td><td>-16.4</td><td>-1.4%</td><td></td><td>444.3</td><td>38.0%</td><td></td></tr><tr><td>Total segment</td><td>$1,108.4</td><td>94.9%</td><td></td><td>$-58.3</td><td>-5.0%</td><td></td><td>$1,050.1</td><td>89.9%</td><td></td></tr><tr><td>2009</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$546.7</td><td>51.9%</td><td></td><td>$19.4</td><td>1.8%</td><td></td><td>$566.0</td><td>53.7%</td><td></td></tr><tr><td>Catastrophes</td><td>43.4</td><td>4.1%</td><td></td><td>3.8</td><td>0.4%</td><td></td><td>47.2</td><td>4.5%</td><td></td></tr><tr><td>Total segment</td><td>$590.1</td><td>56.0%</td><td></td><td>$23.2</td><td>2.2%</td><td></td><td>$613.3</td><td>58.2%</td><td></td></tr><tr><td>2008</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$501.4</td><td>56.6%</td><td></td><td>$-33.5</td><td>-3.8%</td><td></td><td>$467.9</td><td>52.8%</td><td></td></tr><tr><td>Catastrophes</td><td>43.5</td><td>4.9%</td><td></td><td>-6.7</td><td>-0.8%</td><td></td><td>36.9</td><td>4.2%</td><td></td></tr><tr><td>Total segment</td><td>$544.9</td><td>61.5%</td><td></td><td>$-40.1</td><td>-4.5%</td><td></td><td>$504.8</td><td>57.0%</td><td></td></tr><tr><td>Variance 2010/2009</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$101.0</td><td>3.6</td><td>pts</td><td>$-61.3</td><td>-5.4</td><td>pts</td><td>$39.8</td><td>-1.8</td><td>pts</td></tr><tr><td>Catastrophes</td><td>417.3</td><td>35.3</td><td>pts</td><td>-20.2</td><td>-1.8</td><td>pts</td><td>397.1</td><td>33.5</td><td>pts</td></tr><tr><td>Total segment</td><td>$518.3</td><td>38.9</td><td>pts</td><td>$-81.5</td><td>-7.2</td><td>pts</td><td>$436.8</td><td>31.7</td><td>pts</td></tr><tr><td>Variance 2009/2008</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Attritional</td><td>$45.3</td><td>-4.7</td><td>pts</td><td>$52.8</td><td>5.6</td><td>pts</td><td>$98.1</td><td>0.9</td><td>pts</td></tr><tr><td>Catastrophes</td><td>-0.1</td><td>-0.8</td><td>pts</td><td>10.5</td><td>1.2</td><td>pts</td><td>10.3</td><td>0.3</td><td>pts</td></tr><tr><td>Total segment</td><td>$45.2</td><td>-5.5</td><td>pts</td><td>$63.3</td><td>6.7</td><td>pts</td><td>$108.4</td><td>1.2</td><td>pts</td></tr><tr><td colspan="5">(Some amounts may not reconcile due to rounding.)</td><td></td><td></td><td></td><td></td><td></td></tr></table>
<table><tr><td></td><td colspan="2">Year Ended December 31,</td><td colspan="2">Change</td></tr><tr><td>(in thousands, except percentages)</td><td>2012</td><td>2011</td><td>Amount%</td><td></td></tr><tr><td>Revenue:</td><td></td><td></td><td></td><td></td></tr><tr><td>Lease licenses</td><td>$279,283</td><td>$218,005</td><td>$61,278</td><td>28.1</td></tr><tr><td>Perpetual licenses</td><td>222,587</td><td>207,876</td><td>14,711</td><td>7.1</td></tr><tr><td>Software licenses</td><td>501,870</td><td>425,881</td><td>75,989</td><td>17.8</td></tr><tr><td>Maintenance</td><td>275,498</td><td>246,546</td><td>28,952</td><td>11.7</td></tr><tr><td>Service</td><td>20,650</td><td>19,022</td><td>1,628</td><td>8.6</td></tr><tr><td>Maintenance and service</td><td>296,148</td><td>265,568</td><td>30,580</td><td>11.5</td></tr><tr><td>Total revenue</td><td>$798,018</td><td>$691,449</td><td>$106,569</td><td>15.4</td></tr></table>

Question: When doesAttritional for total incurred reach the largest value?
Answer: 2010