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SwissLifeHoldingAG-AR_2018
851
Swiss Life would like to help people acquire financial literacy so they can make better decisions. Trust in one’s own finances and understanding how they work are basic conditions for a selfdetermined life and financial confidence, which is why Swiss Life has supported the Swiss financial literacy platform fintool.ch for years now. The internet start-up uses short videos to get to the heart of complex economic, financial or political issues. In Germany, by way of the Swiss Life Stiftung für Chancenreichtum und Zukunft (Foundation for opportunities and the future), Swiss Life also advocates projects that promote the growth of financial literacy.
101
annual_report
3185
1,271
In addition, as of December 31, 2006, Folksamerica had approximately $31 million of unrestricted cash and fixed maturity investments outside of its regulated insurance operating subsidiaries. During 2006, Folksamerica Re paid $5 million in dividends to its immediate parent.
39
10K
AegonNV-AR_2006
3,516
The interest rate exposure on some of these securities has been swapped, using derivatives, to three-month LIBOR yield.
18
annual_report
182
489
The weighted-average discount rate used in determining the accumulated postretirement benefit obligation was 7.25% for 1995 and 7.5% at December 31, 1994 and 1993.
24
10K
3549
2,090
It is not possible to predict or determine the ultimate outcome of all pending investigations and legal proceedings or provide reasonable ranges of potential losses except as noted elsewhere herein in connection with specific matters. In some of the matters referred to herein, very large and/or indeterminate amounts, including punitive and treble damages, are sought. Although in light of these considerations, it is possible that an adverse outcome in certain cases could have a material adverse effect upon the Company’s financial position, based on information currently known by the Company’s management, in its opinion, the outcome of such pending investigations and legal proceedings are not likely to have such an effect. However, given the large and/or indeterminate amounts sought in certain of these matters and the inherent unpredictability of litigation, it is possible that an adverse outcome in certain matters could, from time to time, have a material adverse effect on the Company’s consolidated net income or cash flows in particular quarterly or annual periods.
165
10K
4514
1,294
A summary of options outstanding and exercisable as of December 31, 2012 is as follows (shares in thousands):
18
10K
715
396
Due to the significant effect of the CIC acquisition on the foregoing balances and changes in the reinsurance programs, it is more meaningful to review gross written premiums (premiums written before ceded premiums) during the periods ended December 31, 1996 and 1995, for CCC and CIC, as if they had been combined throughout this period (dollars in thousands):
58
10K
3874
1,898
Earned premiums decreased as compared to the prior year due to greater amounts of life contingent business sold in 2007. The decrease in earned premiums was offset by a corresponding decrease in benefits, losses, and loss adjustment expenses.
38
10K
SwissLifeHoldingAG-AR_2011
1,281
Debt securities available for sale 64 883 53 908 – – 64 883 53 908
15
annual_report
4225
2,409
of the assets of the Maiden Lane Interests. Other methodologies employed or assumptions made in determining fair value for these investments could result in amounts that differ significantly from the amounts reported.
32
10K
1118
461
The Company, through a consolidated subsidiary, Singer Asset Finance Company, LLC ("Singer", see Note 5) and partially-owned affiliates, Credit-Based Asset Servicing and Securitization LLC ("C-BASS", see Note 5) and Sherman Financial Group LLC ("Sherman" see Note 5 ), is also engaged in the origination, purchase, servicing and/or securitization of special assets, including lottery awards, structured settlement payments, sub-performing/non-performing residential mortgages and unsecured delinquent consumer assets including credit cards receivables.
69
10K
5924
4,249
no accrual has been made because a loss, while potentially estimable, is believed to be reasonably possible but not probable. In these cases, the estimate reflects the reasonably possible loss or range of loss. As of December 31, 2020, we estimate the aggregate range of reasonably possible losses, including amounts in excess of amounts accrued for these matters as of such date, to be up to approximately $90 million. Any estimate is not an indication of expected loss, if any, or of the Company’s maximum possible loss exposure on such matters.
91
10K
2675
1,551
•generated approximately 31% of Aon's total operating segment revenues in 2004.
11
10K
StandardLifeAberdeenPLC-AR_2013
3,342
Risk margins have been updated at 31 December 2013 to reflect both the impact of market movements over the year and changes to the allowance for non-market risk, as well as any cost of required capital adjustment.
37
annual_report
INGGroepNV-AR_2020
2,607
Introduction Compliance risk is defined as a threat posed to ING’s standing resulting from failure to act in line with applicable laws and regulations, internal rules (including ING’s Orange Code and global Code of
34
annual_report
5855
1,604
(1)Non-guaranteed separate accounts included $4.2 billion as of December 31, 2020 and $4.0 billion as of December 31, 2019 in assets supporting the Company’s pension plans, including $0.3 billion classified in Level 3 as of December 31, 2020 and $0.2 billion classified in Level 3 as of December 31, 2019.
50
10K
4504
1,494
Net unfavorable development for our U.S. specialty segment of $11.5 million, including $6.7 million and $4.2 million of net unfavorable development on the general casualty and property lines of business, respectively, relating to our contract binding business, the renewal rights for which we sold during the year;
47
10K
1323
138
Effective January 1, 1998, ANIC ceded to Lyndon via quota share reinsurance 100% of its liability related to existing and future vehicle extended service business written on ANIC's policy forms. In connection with the sale, ANIC granted Lyndon the authority to write new vehicle extended service contracts insured by contractual liability policies issued in the name of ANIC for a maximum period of eighteen months which expired in July 1999. All new business written by Lyndon utilizing ANIC's policy forms was automatically reinsured by Lyndon under the terms of the aforementioned reinsurance agreements.
93
10K
de_allianz-AR_2002
70
In 2002, we focused our efforts on improving our operating results. But the improvements we made were overshadowed by the development the stock markets, natural catastrophes and the need to bolster our claims reserves in the U.S.. We therefore had to report a loss of just under 1.2 billion euros.
50
annual_report
4922
1,060
reported reserves as we learn more about the development of the related claims. The table below illustrates that development. For example, the 64.1 percent accident year 2013 loss and loss expense ratio reported as of December 31, 2013, developed favorably by 1.2 percentage points to 62.9 percent due to claims settling for less than previously estimated, or due to updated reserve estimates for unpaid claims, as of December 31, 2014. Accident years 2013 and 2012 for the commercial lines insurance segment have both developed favorably, as indicated by the progression over time for the ratios in the table.
98
10K
Sampoplc-AR_2001
797
insurance stood at EUR 2.5 billion at year-end. Equity investments accounted for 26 per cent of the entire investment portfolio, investments in interest-bearing instruments for 58 per cent and real estate for 16 per cent. Foreign investments accounted for 36 per cent of the investment portfolio. Investments outside the euro area totalled EUR 305 million.
55
annual_report
gb_prudential-AR_2005
594
In the US, the in-force profit of £530 million is 123 per cent up on 2004 at CER. The increase was primarily due to increased unwind of discount on the in-force business, an operating assumption change following price increases introduced on two older books of term life business (£140 million), and improved spread variance.
54
annual_report
4956
668
We believe our current capital resources, together with cash provided from our operations, will be sufficient to meet currently anticipated working capital requirements. We cannot provide assurance, however, that such will be the case in the future.
37
10K
5308
985
* The project is being developed by the Company’s consolidated variable interest entity.
13
10K
5387
1,153
In 2016, we recognized $56 million of net favorable prior year reserve development, the principal components of which were:
19
10K
NNGroupNV-AR_2013
593
The actuarial assumptions may differ significantly from the actual parameters due to changes in market conditions, economic and mortality trends, and other assumptions. Any changes in these assumptions could have a significant impact on the net defined benefit asset/liability and future pension costs. Reference is made to Note 38 “Pension and other postemployment benefits” for the weighted averages of basic actuarial assumptions in connection with pension and other postemployment benefits.
70
annual_report
4658
716
Ceding commissions for the year ended December 31, 2012 increased $5.3 million, or 18.1%, to $34.8 million from $29.5 million for the year ended December 31, 2011. This increase primarily resulted from improved underwriting results due to growth in earned premiums and favorable loss experience along with additional administrative fees earned from increased insurance production in 2012, and the change in accounting estimate which accounted for $2.8 million of the increase. For the year ended December 31, 2012, ceding commissions included $25.6 million in service and administrative fees, $8.6 million in underwriting profits and $0.6 million in net investment income.
100
10K
AegonNV-AR_2019
1,027
Under the terms of the 1983 Merger Agreement as amended in May 2013, Vereniging Aegon has the option to acquire additional common shares B. Vereniging Aegon may exercise its call option to keep or restore its total stake to 32.6%
40
annual_report
4970
1,942
The combined ratio is calculated by combining the losses and loss expenses ratio, the policy acquisition costs ratio and the general and administrative expenses ratio.
25
10K
NatixisSA-AR_2013
767
In 2013, the purchasing department continued its contribution to the Natixis action plan for disabled people with increased use of disability-friendly companies. It now applies to numerous sectors: archiving, mail management, printing, invoice control, dinner trays and catering for evening events, garden maintenance, the manufacture of promotional items, etc.
49
annual_report
BaloiseHoldingLtd-AR_2006
6,189
VORABDRUCK In our opinion, the accounting records and fi nancial statements and
12
annual_report
AegonNV-AR_2004
893
NTD 24,261 million increased by 38% compared to NTD 17,517 million for 2003. Variable universal life premiums increased by 83% over 2003 to NTD 710 million driven by the efforts of
31
annual_report
4687
1,052
For certain product guarantees, primarily the optional living benefit features of the variable annuity products, the benefits are accounted for as embedded derivatives, with fair values calculated as the present value of future expected benefit payments to contractholders less the present value of assessed rider fees attributable to the embedded derivative feature. Under U.S. GAAP, the fair values of these benefit features are based on assumptions a market participant would use in valuing these embedded derivatives. Changes in the fair value of the embedded derivatives are recorded quarterly through a benefit or charge to current period earnings.
97
10K
de_allianz-AR_2017
2,544
CGUs in the Life/Health business segment are: − Insurance German Speaking Countries,
12
annual_report
5109
1,318
In November 2015, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) which requires entities to present deferred tax assets and deferred tax liabilities as noncurrent in a classified balance sheet. The new standards simplifies the current guidance, which requires entities to separately present deferred tax assets and deferred tax liabilities as current and noncurrent in a classified balance sheet. It is effective for annual and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company elected to adopt this guidance in the current fiscal year and applied the new standard retrospectively to all prior periods. The reclassification of deferred tax assets and deferred tax liabilities impacted the Consolidated Balance Sheets by decreasing Other Current Assets and increasing Other Long Term Assets by $102 million and $83 million at December 31, 2015 and December 31, 2014. These reclassifications have no effect on net earnings or stockholders' equity as previously reported.
156
10K
3288
1,732
Accounting standards require the disclosure of fair values for certain financial instruments. The fair value disclosures are not intended to encompass various other non-financial instruments or other intangible assets related to Aon's business. Accordingly, care should be exercised in deriving conclusions about Aon's business or financial condition based on the fair value disclosures. The basis for determining the fair value of financial instruments is discussed in Note 1. The carrying value approximates or equals fair value for the following instruments: cash, receivables, short-term
83
10K
4500
3,804
The fair market value of employee restricted stock, restricted units and performance share and unit awards released for the years ended December 31, 2011, 2010 and 2009 was $75 million, $56 million and $34 million, respectively.
36
10K
3016
1,464
The composition of deferred tax assets and liabilities and the related tax effects as of December 31, 2006 and 2005 are as follows (in thousands):
25
10K
5365
562
The $1,898,407 and $9,485,884 of cash provided by operating activities for the years ended December 31, 2017 and 2016, respectively, are summarized as follows:
24
10K
StandardLifeAberdeenPLC-AR_2010
678
• Has tools to help customers become more confident in making financial decisions
13
annual_report
INGGroepNV-AR_2005
1,360
Premiums earned during the year -6,769 -6,542 -636 -729 -6,133 -5,813
11
annual_report
RaiffeisenBankInternationalAG-AR_2008
714
Solid funding sources Because of the diffi culties in the wholesale sector, refi nancing by way of traditional depositgathering business came to the fore in the reporting period. In all Raiff eisen International network banks, eff orts were increased to gather deposits from both corporate and retail customers, supported by the introduction of new products. The eff ects of these measures unfolded particularly in the second half of 2008 and contributed to currency-adjusted growth.
74
annual_report
SwissReAG-AR_2003
844
Swiss Re continuously monitors industry developments which could potentially impact its corporate value, bottom line or strategy. “Top
18
annual_report
2879
1,445
Effective January 28, 2005, we completed our acquisition of First Health. First Health is a full service national health benefits services company that serves the group health, workers’ compensation and state public program markets. Each outstanding share of First Health common stock was converted into a right to receive $9.375 cash and 0.2687 shares of Coventry common stock. As a result of the merger, we paid $863.1 million in cash and issued approximately 24.7 million shares of our common stock to stockholders of First Health. The acquisition was accounted for using the purchase method of accounting and, accordingly, the operating results of First Health have been included in our consolidated financial statements since the date of acquisition. The purchase price for First Health was allocated to the assets, including identifiable intangible assets and liabilities, based on estimated fair values. For additional information regarding the First Health acquisition, please refer to Note B to our consolidated financial statements.
157
10K
SwissReAG-AR_2011
643
The fair value of each option grant was estimated on the date of grant using a binomial option pricing model.
20
annual_report
StandardLifeAberdeenPLC-AR_2006
35
These results have been calculated for the year ended 31 December 2006 using assumptions to show the results which would have been attributable to shareholders had the company been owned by shareholders under the terms of the Scheme of demutualisation (the Scheme) throughout the year. The Scheme did not take effect until 10 July 2006. For further information please refer to basis of preparation sections 1.4.1 and 1.5.3.4 below for EEV and IFRS respectively. No account has been taken of any prospective tax changes announced by the Chancellor of the Exchequer on 21 March 2007.
95
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2012
749
The division’s combined ratio improved significantly to 84.5% (201.3%) thanks to a moderate incidence of major losses, our rigorous portfolio optimisation, and the release of loss reserves.
27
annual_report
NatwestGroupPLC-AR_2013
1,271
• Approval of Group and Divisional variable pay pools and Directors’
11
annual_report
4523
1,525
Net investment income is influenced by a number of factors including the amounts and timing of inward and outward cash flows, the level of interest rates and changes in overall asset allocation. Net investment income increased $472 million or 11 percent in 2012, compared to 2011, primarily due to the impact of the overall diversification in the asset portfolio during the year. We adopted yield-enhancement initiatives in 2011, and continued through 2012, which increased the average yield of our investment portfolio by 0.3 points to 4.0 percent during 2012.
89
10K
2513
1,089
The Company is exposed to credit risk in the event of non-performance by the counterparties to the Company’s foreign exchange forward contracts and credit default swaps. However, because the counterparties to these agreements are high-quality international banks, the Company does not anticipate non-performance. The difference between the contract amounts and the related market value is the Company’s maximum credit exposure.
60
10K
4136
929
The $30.9 million notes payable due 2035 are redeemable in whole or in part by the issuer after five years. The notes were issued in December 2004 and bear an initial interest rate of 7.545 percent until March 15, 2010, at which time the securities will adjust quarterly to the three-month LIBOR rate plus 3.6 percent.
56
10K
gb_prudential-AR_2016
5,655
www.prudential.co.uk� Annual�Report�2016 Prudential plc 327 06 European Em bedded V alue (EEV
12
annual_report
ScorSE-AR_2020
4,951
The Group continues to work on a project to automate many of the screening processes in order to enhance them. SCOR already screens its main technical accounting system on a weekly basis and other databases on a monthly or quarterly basis depending on the nature of the database and the frequency of its updates.
54
annual_report
fr_axa-AR_2013
6,910
TOTAL LIABILITIES ARISING FROM INSURANCE CONTRACT 474,001 (530) 473,470 476,299 (959) 475,340
12
annual_report
fr_axa-AR_2009
11,497
Extraordinary Shareholders’ Meeting on April 30, 2009 for a period of 26 months expiring on June 30, 2011 (Delegation of authority to the Management Board in order to increase the share capital by means of capitalization of reserves, earnings or premiums),
41
annual_report
1451
634
In 2000, we engaged General Re New England Asset Management, a subsidiary of Berkshire Hathaway, Inc. and a nationally prominent investment advisor, particularly to insurance companies, and undertook an in-depth review and restructuring of our investment portfolio. As a part of this restructuring, we have shortened our investment portfolio's duration but have not significantly changed the average credit rating. Our net realized investment losses from sales or write downs of equity securities was $5.6 million in 2000, compared to losses of $3.9 million in 1999. In 2000, we recognized a $5.1 million realized loss from the write down of an equity investment to its estimated fair market value based upon market quotations compared to a similar write down of $4.3 million in 1999. Our net realized investment gains from the disposition of fixed income securities were $203,000 in 2000, compared to losses of $164,000 in 1999.
146
10K
RaiffeisenBankInternationalAG-AR_2019
4,980
Raiffeisen Invest Drustvo za upravljanje fondovima d.d. Sarajevo, Sarajevo (BA) 671,160 BAM 100.0% FI
14
annual_report
AvivaPLC-AR_2011
2,084
 manage exposures to movements in exchange rates by aligning the deployment of capital by currency with our capital requirements by currency.
22
annual_report
fr_axa-AR_2008
1,000
APE increased by €200 million (+97%) to €406 million. On a comparable basis, APE remained stable, as the increase in Spain (+21% or €+19 million), driven by traditional savings products, was offset by Italy (–16% or €–11 million) due to the lower contribution from Index Linked products.
47
annual_report
4962
1,482
· we paid $10.0 million in settlements of investment-related derivative instruments,
11
10K
INGGroepNV-AR_2008
1,885
have a maturity depending on their nature, this does not impact the liquidity position of ING. (2) Included in remaining assets where maturities are not applicable are: – property and equipment – real estate investments – investments in associates.
39
annual_report
1533
419
Other Insurance Products. The Company offers a variety of other insurance ------------------------ products to complement its professional liability insurance policies, including principally directors and officers liability insurance and managed care errors and omissions policies to medical groups and hospitals. In late 1999, the Company began offering a newly designed product that provides physicians and medical groups with protection for defense expenses and certain liabilities related to governmental investigations into billing errors and omissions to Medicare (and other governmentally subsidized) patients. Premium volume for all of these products has been small, but the Company considers these products important to its expansion plans.
101
10K
RSAInsuranceGroupPLC-AR_2006
1,778
The Company has established an execution only sharedealing service with Lloyds TSB Registrars for existing shareholders with a UK registered address. Shares can be bought or sold within minutes, between the hours of 8.30am and 4.30pm (UK time), Monday to Friday. To deal, log on to www.shareview.co.uk/dealing or telephone +44 (0)870 850 0852. Shareholders will need to have their share certificate(s) to hand when dealing.
65
annual_report
gb_prudential-AR_2013
5,312
— Variable annuity equity returns and bond interest rates have been stochastically generated using a log-normal model with parameters determined by reference to historical data. The volatility of equity fund returns ranges from 19 per cent to 32 per cent for both 2013 and 2012, depending on the risk class and the class of equity, and the standard deviation of interest rates ranges from 2.2 per cent to 2.5 per cent for both years.
74
annual_report
1182
504
Revenues from management services decreased 23% or $14,664,000, from fiscal 1998 to fiscal 1999 (decreasing from $63,395,000 to $48,731,000) mainly the result of the decrease in the number of covered participants enrolled in the Company's management services related to an HMO that terminated services on September 30, 1998 and other clients who terminated services. The management services revenue increased 7% or $4,319,000, from fiscal 1997 to fiscal 1998 (increasing from $59,076,000 to $63,395,000) which was the result of the growth of existing business and new contracts entered into by the Company.
91
10K
nl_ing_grp-AR_2019
5,683
– FX forwards and futures –3,444 –853 –54 –4,351 1 The prior period has been updated to improve consistency and comparability.
21
annual_report
RaiffeisenBankInternationalAG-AR_2007
1,469
The public sector and companies owned by state-owned entities and institutions are also part of the corporate customers segment. The public sector comprises all public sector entities such as ministries, provinces, municipalities and similar public corporations. Embassies and trade representations also belong to this segment.
45
annual_report
4396
1,216
Our Other segment includes the Comprehensive Health Solutions business unit, or CHS, that brings together our resources focused on optimizing the quality of health care, the clinical consumer experience and cost of care management. CHS included our PBM business until its sale to Express Scripts on December 1, 2009, and also includes provider relations, care and disease management, employee assistance programs, including behavioral health, radiology benefit management and analytics-driven, evidence-based personal health care guidance. Our Other segment also contains results from our Federal Government Solutions, or FGS, business. FGS business includes FEP and National Government Services, Inc., which acts as a Medicare contractor in several regions across the nation. The Other segment also includes other businesses that do not meet the quantitative thresholds for an operating segment as defined in FASB guidance, as well as intersegment sales and expense eliminations and corporate expenses not allocated to the other reportable segments.
150
10K
NatixisSA-AR_2015
5,013
(b) This number of shares refers to the shares granted under the deferred share-based bonus plans (2011 and 2012 plans).
20
annual_report
4742
832
Other operating expenses increased $15.9 million, or 18.7%, for the year ended December 31, 2012, as compared to the year ended December 31, 2011. The increase is due to higher commissions, maintenance, and acquisition expenses driven by the growth of the business.
42
10K
StorebrandASA-AR_2017
2,344
The fair value of �nancial assets listed on a stock exchange or on another regulated market in which regular trading takes place is determined as the bid price on the last trading day up to and including the reporting date.
40
annual_report
gb_prudential-AR_2011
2,817
Total UK insurance operations loans 3,115 2,302 * The mortgage loans are collateralised by properties. By carrying value, 96 per cent of the £1,137 million held for shareholder-backed business relates to lifetime (equity release) mortgage business which has an average loan to property value of 27 per cent.
48
annual_report
5762
1,166
The Company adopted ASU 2016-02, "Leases (Topic 842)," which supersedes the guidance in Accounting Standards Codification ("ASC") 840, "Leases," on January 1, 2019, using a modified retrospective transition, with the cumulative-effect adjustment to the opening balance of retained earnings as of the effective date (the "effective date method"). Under the effective date method, financial results reported in periods prior to 2019 are unchanged. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company not to reassess (a) whether arrangements contain leases, (b) lease classification and (c) initial direct costs. Adoption of the new standard resulted in the recognition of operating lease right-of-use ("ROU") assets and operating lease liabilities of approximately $41 million and $43 million, respectively, at the adoption date for the Company's operating leases. The difference of approximately $2 million between the operating lease ROU assets and operating lease liabilities represents reclassification of deferred rent liability (the difference between the straight-line rent expenses and paid rent amounts under the leases) to operating lease ROU assets from other liabilities at the adoption date. The Company did not have any cumulative-effect adjustment as a result of the adoption.
200
10K
4147
1,302
Short-term and Long-term Debt: Short-term and long-term debt are carried at the unpaid principal balance, net of unamortized discount or premium. Original issue discount or premium as well as debt issue costs are recognized as a component of interest expense over the period the debt is expected to be outstanding. Short-term debt is debt due within the next twelve months, including that portion of debt otherwise classified as long-term.
69
10K
5957
1,332
Realized gains (losses) - investments includes realized gains and losses from the sale of investments, changes in fair value of equity securities, net credit losses, and trading securities. Realized gains and losses on investments are calculated on the basis of specific identification on the trade date. Realized gains (losses) - derivatives includes gains and losses on free-standing and embedded derivatives.
60
10K
CNPAssurancesSA-AR_2009
276
Investment strategies based on asset-liability management analyses are reviewed on a quarterly or monthly basis (for the largest portfolios) in light of market conditions. This approach enables us to control our exposure to risks as well as our policyholder dividend policy.
41
annual_report
INGGroepNV-AR_2018
39
Number of customers that felt financially empowered (in million, year-end) 1 25.0 25.4 23.9
14
annual_report
2293
1,764
In January 2003, FASB issued FIN46. FIN46 changes the method of determining whether certain entities should be consolidated in AIG’s consolidated financial statements. An entity is subject to FIN46 and is called a Variable Interest Entity (VIE) if it has (i) equity that is insufficient to permit the entity to finance its activities without additional subordinated financial support from other parties, or (ii) equity investors that cannot make significant decisions about the entity’s operations, or that do not absorb the expected losses or receive the expected returns of the entity. A VIE is consolidated by its primary beneficiary, which is the party that has a majority of the expected losses or a majority of the expected residual returns of the VIE, or both. All other entities not considered VIEs are evaluated for consolidation under existing guidance. In December 2003, FASB issued a revision to Interpretation No. 46 (FIN46R).
148
10K
4710
1,529
Our loss and LAE reserves relating to short-tail property risks are typically reported to us and settled more promptly than those relating to our long-tail risks. However, the timeliness of loss reporting can be affected by such factors as the nature of the event causing the loss, the location of the loss, whether the loss is from policies in force with primary insurers or with reinsurers and where our exposure falls within the cedant’s overall reinsurance program. In the case of our reinsurance business, our reserving process is highly dependent on the loss information we receive from ceding companies and brokers.
101
10K
HiscoxLtd-AR_2004
342
Change in the gross provision for unearned premiums (19,337) (74,902) Change in the provision for unearned premiums, reinsurers’ share (19,800) (38,613)
21
annual_report
AegonNV-AR_2004
642
The effective tax rate declined to 24% in 2004 from 32% in 2003 primarily reflecting higher realized gains on tax preferred investments in the Netherlands and a one-time reduction in taxes in the United States.
35
annual_report
fr_axa-AR_2007
3,194
Other intangible assets such as the value of customer relationships are recognized only if they can be measured reliably. The value of customer relationships intangible in this case represents the value of future cash flows expected from renewals and the cross-selling of new products to customers known and identified at the time of the acquisition. These projections include assumptions regarding claims, expenses and financial revenues, or they can be estimated on the basis of the new business value. In line with accounting practices in force before the adoption of IFRS, which may continue to be applied under IFRS 4, future premiums relating to acquired business may be recognized in the “Value of purchased business in force” item.
117
annual_report
4039
1,919
The agreements relating to the senior credit facilities and revolving credit facility contain numerous operating and financial covenants, including requirements to maintain minimum ratios of consolidated adjusted EBITDA to consolidated fixed charges and maximum levels of consolidated funded indebtedness in relation to consolidated EBITDA, in each case subject to certain adjustments.
51
10K
HiscoxLtd-AR_2019
1,726
2.18 Finance costs Finance costs consist of interest charges accruing on the Group’s borrowings and bank overdrafts together with commission fees charged in respect of Letters of Credit and interest in respect of lease liabilities. Arrangement fees in respect of financing arrangements are charged over the life of the related facilities.
51
annual_report
AegonNV-AR_2007
1,327
AEGON bears all or most of the volatility in returns and investment performance risk. Equity market exposure is also present in insurance and investment contracts for account of policyholders where funds are invested in equities, such as variable annuities, unit-linked products and mutual funds. Although most of the risk remains with
51
annual_report
679
341
The Convertible Capital Securities are convertible, in whole or in part, at ERC's option at any time, subject to regulatory approval, into shares of HSB common stock at a conversion price of $85, subject to adjustment. HSB has provided certain registration rights to ERC in connection with the common stock into which the Convertible Capital Securities are convertible pursuant to a Registration Rights Agreement dated December 31, 1997. Were ERC to exercise its conversion rights in total, it would hold, on a fully diluted basis, approximately 15.3 percent of HSB's common stock. Pursuant to certain provisions contained in the Purchase Agreement dated December 31, 1997, ERC has agreed to certain "standstill" arrangements which for a period of five years will preclude ERC from purchasing any common stock of HSB, other than by exercise of its conversion rights, and will limit its ability to take certain other actions with respect to HSB during that period.
154
10K
StorebrandASA-AR_2009
462
Storebrand places great weight on the development of its employees at all levels.
13
annual_report
AvivaPLC-AR_2019
635
1 Following the change in the definition of Group adjusted operating profit (see note 1(b) of the Annual report and accounts), COR now includes the amortisation and impairment of internally generated intangible assets to better reflect the operational nature of these assets. Comparative amounts have been restated.
47
annual_report
2295
485
As a holding company, we have no significant operations or assets other than our ownership of the capital stock of our subsidiaries. Dividends and other permitted payments from our subsidiaries are our
32
10K
DirectLineInsuranceGroupPLC-AR_2020
4,212
Notes: 1. See glossary on page 225 for definitions. 2. See notes to the consolidated financial statements. 3. Includes net realised and unrealised gains / (losses) on derivatives in relation to AUM. 4. See footnote 1 on page 34 (Investment holdings). 5. Mean average of opening and closing balances.
49
annual_report
2110
849
The following table shows the income (loss) from continuing operations before income taxes for the years ended December 31, 2003, 2002 and 2001.
23
10K
Sampoplc-AR_2017
1,137
As shown in the below figure Breakdown of Gross Written Premiums by Business Area, Country and Line of Business, If P&C, 2017, the If P&C insurance portfolio is well diversified across Business Areas, Countries and Lines of Business. The six Lines of Business are segmented in accordance with insurance class segmentation used in IFRS.
54
annual_report
LloydsBankingGroupPLC-AR_2008
623
Profit before tax from Scottish Widows Investment Partnership (SWIP) increased to £42 million (2007: £41 million). The adverse impact on income of volatile equity and bond markets was more than offset by strong cost management. With the FTSE All-Share Index falling to levels not seen since 2003, SWIP’s assets under management decreased by £14.6 billion to £83.0 billion.
58
annual_report
5416
844
For other VIEs in which American National is a partner, it is not the primary beneficiary, and these entities are not consolidated, as the major decisions that most significantly impact the economic activities of the VIE require consent of all partners. The carrying amount and maximum exposure to loss relating to unconsolidated VIEs follows (in thousands):
56
10K
AegonNV-AR_2017
3,582
Decrease by 15% of non-euro currencies relative to the euro (184) (1,868)
12
annual_report
2026
966
The following table presents our fixed maturities by National Association of Insurance Commissioners Designation and the equivalent ratings of the Nationally Recognized Statistical Rating Organizations as of December 31, 2002, 2001 and 2000, as well as the percentage, based on fair value, that each designation comprises.
46
10K
2437
529
over a period not to exceed the life of the related policy. VOBA primarily represents the discounted future profits of business assumed through reinsurance agreements. See “Critical Accounting Policies and Estimates-Deferred Acquisition Costs and Value of Business Acquired.” The net increase in DAC and VOBA for 2004, 2003, and 2002 was $15.2 million, $12.1 million and $15.8 million, respectively.
59
10K
NatwestGroupPLC-AR_2014
8,883
NRFB will be completed on time to meet the regulatory deadline in 2019.
13
annual_report
AvivaPLC-AR_2016
3,511
Investment income attributable to unitholders 96 17 Reinsurance commissions and other fee and commission expense 449 399
17
annual_report
5552
748
The Company establishes reserves for lawsuits, regulatory actions and other contingencies for which the Company is able to estimate its potential exposure and believes a loss is probable. For loss contingencies believed to be reasonably possible, the Company discloses the nature of the loss contingency, an estimate of the possible loss, a range of loss, or a statement that such an estimate cannot be made.
65
10K