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fr_axa-AR_2003 | 1,066 | AXA seeks to enhance employee motivation and performance in line with company-level strategic objectives and in accordance with AXA values: professionalism – innovation – pragmatism – team spirit – integrity. In support of these aims, the AXA management style encourages: Quality information on key priorities: Employees are kept informed of the strategies, objectives and results of the | 57 | annual_report |
2196 | 1,143 | investments and the credited interest rates paid on outstanding policies. Both rising and declining interest rates can negatively affect spread income. Although we develop and maintain asset/liability management programs and procedures designed to preserve spread income in rising or falling interest rate environments, changes in interest rates could adversely affect these spreads. | 52 | 10K |
5622 | 1,303 | General and administrative expenses consist primarily of salaries and benefits and related costs, including costs associated with our incentive compensation plan, bonuses and stock compensation expenses. General and administrative expenses also include professional fees, travel and entertainment, information technology, rent and other general operating expenses. General and administrative expenses reported on our consolidated statements of operations include both underwriting expenses as well as corporate expenses. Underwriting expenses include those expenses directly related to underwriting activities which are not eligible to be capitalized, as well as an allocation of other general and administrative expenses. Corporate expenses include those costs associated with operating as a publicly listed entity as well as an allocation of other general and administrative expenses. | 117 | 10K |
5022 | 970 | The Company incurs costs in connection with the acquisition of new and renewal insurance business. Costs that vary directly with and relate to the successful production of new business are deferred as DAC. These costs consist primarily of commissions, costs associated with the Company’s sales representatives and policy issuance and underwriting expenses related to the production of successfully acquired new business. A success factor is derived from actual contracts issued by the Company from requests for proposals or applications received and applied to the deferrable costs. The recoverability of such costs is dependent upon the future profitability of the related business. Recoverability testing is performed for current issue year products to determine if gross revenues are sufficient to cover DAC and expenses. At least annually, loss recognition testing is performed on aggregated blocks of business to adjust the DAC balance. | 140 | 10K |
5237 | 1,718 | Ceding commission income. Our ceding commission income increased by $1.6 million from $42.7 million for the year ended December 31, 2015 to $44.3 million for the year ended December 31, 2016, driven by an increase attributable to the acquisition of Century-National, partially offset by an increase to the sliding scale adjustment on our terminated third-party quota share agreement and the first quarter deconsolidation of the Reciprocal Exchanges. | 67 | 10K |
5175 | 771 | The economic impact of option performance in the Company's financial statements is not generally determined solely by the option gain or loss included in net investment income as there is a corresponding amount recorded in the contract interest expense line. Rather, the Company's profitability with respect to these options is dependent upon the purchase cost of the option remaining within the financial budget for acquiring options embedded in the product pricing. Option prices vary with interest rates, volatility, and dividend yields among other things. As option prices vary, the Company manages for the variability by making offsetting adjustments to product caps, participation rates, and management fees. For the periods shown, the Company's option costs have been within the product pricing budgets. | 121 | 10K |
HelvetiaHoldingAG-AR_2001 | 993 | • Benchmark index An index used as a point of reference to measure the performance of a particular portfolio. | 19 | annual_report |
INGGroepNV-AR_2010 | 908 | • The shareholder approval requirements for equity compensation plans under Dutch law and the Corporate Governance Code differ from those applicable to US companies which are subject to the NYSE’s listing rules. Under Dutch company law and the Corporate Governance Code, shareholder approval is only required for equity compensation plans (or changes thereto) for members of the Executive Board and Supervisory Board, and not for equity compensation plans for other groups of employees. | 73 | annual_report |
4519 | 761 | In November, 2011, U.A.I. (Luxembourg) Investment S.à.r.l. issued a $100.0 million demand line of credit to Global Indemnity (Cayman) Ltd. which bears interest at 1.2%. The proceeds of the line were loaned from Global Indemnity (Cayman) Ltd. to Global Indemnity plc, bearing interest at 1.2%, to fund purchases of the Company’s A ordinary shares as part of the $100.0 million share repurchase program announced in September, 2011. In August, 2012, the demand line of credit was increased to $125.0 million to fund additional purchases under the Company’s $25.0 million share repurchase authorization. As of December 31, 2012, Global Indemnity plc owed Global Indemnity (Cayman) Ltd. $108.0 million under this arrangement, with accrued interest of $0.9 million, and Global Indemnity (Cayman) Ltd. had $102.5 million outstanding on the line of credit, with accrued interest of $0.9 million. | 136 | 10K |
2909 | 7,889 | The Company's estimates of losses for Hurricanes Katrina, Rita and Wilma are generally based on claim adjuster inspections and the application of historical loss development factors. However, in areas where the Company has reason to believe that its historical loss development factors may not be predictive, the Company has relied on analysis of actual claim notices received compared to the total policies in force, as well as visual, governmental and third party information including aerial photos, area observations and data on wind speeds and flood depth to the extent available. | 90 | 10K |
4430 | 1,571 | As of December 31, 2011, the future minimum lease payments (principally for leased office space) under various long-term operating leases were as follows: | 23 | 10K |
PowszechnyZakladUbezpieczenSA-AR_2019 | 316 | From the perspective of operation of the PZU Group and execution of PZU’s parent obligations the amendment of Article 105 sec. 1 of the Banking Law Act of 29 August 1997 was desirable. In accordance with this regulation the bank is obligated to provide the insurance undertaking with information constituting banking secret to the extent required for the insurance company to comply with the regulations pertaining to group supervision applicable to such undertaking, as specified in the Insurance and Reinsurance Activity Act and the regulations pertaining to supplementary oversight exercised pursuant to the Act of 15 April 2005 on supplementary oversight over credit institutions and insurance undertaking, reinsurance undertakings and investment firms comprising a financial conglomerate. | 116 | annual_report |
2216 | 827 | For certain catastrophic events, there is considerable uncertainty underlying the assumptions and associated estimated reserves for losses and LAE. Reserves are reviewed regularly and, as experience develops and additional information becomes known, including revised industry estimates of the magnitude of a catastrophe, the reserves are adjusted as we deem necessary. | 50 | 10K |
SwissLifeHoldingAG-AR_2016 | 541 | No additional fees and compensation were paid to members of governing bodies in the year under review. | 17 | annual_report |
5817 | 627 | Gross written premiums increased by 7.3% to $7,053.1 million in 2019, compared to $6,573.7 million in 2018, reflecting a $445.7 million, or 22.2%, increase in our insurance business and a $33.7 million, or 0.7%, increase in our reinsurance business. The rise in insurance premiums was primarily due to increases in many lines of business, including casualty, energy and accident and health. The increase in reinsurance premiums was mainly due to the increase in treaty casualty writings, partially offset by a decline in treaty property business. Net written premiums increased by 14.8% to $5,774.9 million in 2019, compared to $5,031.9 million in 2018. The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to the impact of changes in affiliated reinsurance contracts. Premiums ceded to Bermuda Re in 2019 were $100.1 million compared with $572.6 million in 2018. Premiums earned increased by 13.4% to $5,489.0 million in 2019, compared to $4,839.1 million in 2018. The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period. | 198 | 10K |
HiscoxLtd-AR_2016 | 581 | DirectAsia In March 2014, the Group acquired Direct Asia Insurance (Holdings) Pte Ltd (‘DirectAsia’). Having disposed of its insurance business in Hong Kong, DirectAsia underwrites through a subsidiary in Singapore and an agency in Thailand. Its primary business is motor insurance, with ancillary lines in travel, personal accident and healthcare. At the end of 2016, the insurance company subsidiary has net assets exceeding SGD$15 million (2015: SGD$15 million). | 68 | annual_report |
gb_prudential-AR_2012 | 4,167 | (v) Maturity analysis The following table sets out the contractual maturity analysis of the Group’s operational borrowings attributable to shareholder-fi nanced operations: Less than 1 year 1,920 3,169 1 to 2 years 6 140 2 to 3 years 309 10 3 to 4 years 9 10 4 to 5 years 1 11 Over 5 years – – | 57 | annual_report |
AvivaPLC-AR_2015 | 3,758 | Changes in UPR recognised as an (income)/expense 125 8 Gross portfolio transfers and acquisitions — (31) Foreign exchange rate movements (184) (96) | 22 | annual_report |
BaloiseHoldingLtd-AR_2017 | 2,776 | in 2017, 84.9 per cent of the shares in the listed company pax anlage aG, Basel, were purchased. pax anlage aG’s wholly owned subsidiary pax Wohnbauten aG (since 3 July 2017 Baloise Wohnbauten aG) has a real-estate portfolio comprising investment properties and development projects. the intention is for the development projects to be sold at a later date. they have therefore been recognised on the balance sheet under other assets. Most of the properties are located in German- speaking Switzerland. | 80 | annual_report |
HelvetiaHoldingAG-AR_2011 | 513 | Even though the assessment of the objective attainment is prescribed in a matrix, the Board of Directors can deviate from the objectively calculated overall degree of objective attainment in justified cases. | 31 | annual_report |
5049 | 854 | Under the authorization from the Company’s Board of Directors, shares may be purchased from time to time, at the Company’s discretion and subject to the availability of stock, market conditions, the trading price of the stock, alternative uses for capital, the Company’s financial performance and other potential factors. These purchases may be carried out through open market purchases, block trades, accelerated share repurchase plans of up to $100.0 million each (unless otherwise approved by the Board of Directors), negotiated private transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. | 103 | 10K |
1017 | 256 | Policy acquisition and other issue costs were $16.1 million, $14.3 million and $17.4 million for 1998, 1997 and 1996 respectively. These costs as a percentage of earned premiums were 30.8%, 24.8% and 28.5% in 1998, 1997 and 1996, respectively. The rise in the percentage for 1998 is the result of two major factors. Prior to their April 30, 1998 sale, the Trade Insurance Services ("TIS") subsidiaries had produced a significant portion of the Company's premiums, accounting for 69% of the 1997 volume. Intercompany commission income of TIS was eliminated in consolidation against the commission expense of IIC. After the sale of TIS, such commissions are now paid to unrelated entities and, therefore, are no longer eliminated in consolidation. The other major factor changing in 1998 was the discontinuance of a quota share reinsurance agreement on contract surety business. Under that agreement, the Company received ceding allowances which served to offset a portion of acquisition expenses. Excluding these two items, the 1998 acquisition expenses would have been approximately 23.5% of earned premiums. The reduction in the percentage relationship of acquisition costs to earned premiums in 1997 was attributable to the change in the commission structure as pricing for certain products moved to a rate structure net of brokers' commissions. | 208 | 10K |
4806 | 687 | OTTI losses are recorded in the consolidated statements of income and comprehensive income as net realized losses on investments and result in a permanent reduction of the cost basis of the underlying investment. The determination of OTTI is a subjective process and different judgments and assumptions could affect the timing of loss realization. At December 31, 2013, there were 52 securities that account for the gross unrealized loss. The Company determined that none of the unrealized losses were deemed to be OTTI for its portfolio of fixed maturity investments and equity securities for the years ended December 31, 2013 and 2012. Significant factors influencing the Company’s determination that unrealized losses were temporary included the magnitude of the unrealized losses in relation to each security’s cost, the nature of the investment and management’s intent and ability to retain the investment for a period of time sufficient to allow for an anticipated recovery of fair value to the Company’s cost basis. | 159 | 10K |
RaiffeisenBankInternationalAG-AR_2018 | 948 | The number of business outlets fell by 16 year-on-year to 962, largely due to closures in Romania. The cost/income ratio improved from 57.0 to 53.9 per cent. | 27 | annual_report |
PowszechnyZakladUbezpieczenSA-AR_2020 | 1,951 | Additional interest rate cuts served as another key element intended to stimulate economies across the world. The first central bank to take such a step as early as in 2019 was the central bank of China – the country where the pandemic began. However, global investors set their eyes chiefly on the measures adopted by the Fed2, which already in Q1 2020 cut its interest rates twice, bringing them down almost to zero. | 73 | annual_report |
2381 | 740 | It is important to understand the Company's accounting policies in order to understand its financial position and results of operations. Management considers certain of these policies to be critical to the presentation of the financial results since they require management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures at the financial reporting date and throughout the relevant periods. Certain of the estimates and assumptions result from judgments that can be subjective and complex, and consequently actual results may differ from these estimates. The Company's most critical accounting policies involve written and unearned premium, unpaid losses and LAE, reinsurance, investments, income taxes and stock-based compensation. | 117 | 10K |
ch_zurich_insurance_group-AR_2019 | 1,866 | Market risk 33 Market risk – the risk associated with the Group’s balance sheet positions where the value or cash flow depends on financial markets, which is analyzed in the ‘market risk, including investment credit risk’ section | 37 | annual_report |
StandardLifeAberdeenPLC-AR_2019 | 1,710 | – Voluntary turnover within the Company remains ahead of the benchmark at 9.7% – Implementation of an integrated HR system | 20 | annual_report |
220 | 367 | ($ in thousands) 1995 1994 1993 -------- -------- -------- Premiums earned ............................ $ 35,826 $ 37,256 $ 33,324 Losses and settlement expenses ............. 23,744 30,565 27,872 Other expenses ............................. 11,584 11,408 11,492 -------- -------- -------- Underwriting gain (loss) ................... 498 (4,717) (6,040) Net investment income ...................... 6,068 5,354 6,090 Realized investment gains .................. 13 116 201 Other income ............................... 344 434 259 -------- -------- -------- Operating income before income taxes ....... $ 6,923 $ 1,187 $ 510 ======== ======== ======== Incurred losses and settlement expenses: Insured events of the current year ....... $ 26,668 $ 29,270 $ 25,359 (Decrease) increase in provision for insured events of prior years .......... (2,924) 1,295 2,513 -------- -------- -------- Total losses and settlement expenses $ 23,744 $ 30,565 $ 27,872 ======== ======== ======== Catastrophe losses ......................... $ 932 $ 1,424 $ 5,141 ======== ======== ======== | 141 | 10K |
2034 | 1,231 | On August 23, 2002, we issued $375.0 of senior notes with a coupon of 7.250% that mature in 2012. The majority of the proceeds of the notes were used for the repayment of $299.0 of commercial paper borrowings, $18.7 for the termination of related interest rate swaps and $28.4 for repayment of medium-term notes. The remaining balance has been used for general corporate purposes. Safeco simultaneously entered into a $375.0 notional interest rate swap to effectively convert the fixed rate senior note obligation into a LIBOR-based floating rate obligation. The fair value of the interest rate swap is marked-to-market on the balance sheet and included in Other Invested Assets with the corresponding offsetting asset or liability included in the face value of the debt. | 124 | 10K |
5641 | 670 | Results of operations include the accounts of The Hanover Insurance Company (“Hanover Insurance”) and Citizens Insurance Company of America (“Citizens”), our principal property and casualty companies; and certain other insurance and non-insurance subsidiaries. Our results of operations also include the results of our discontinued operations, consisting primarily of our former Chaucer international business, Chaucer Holdings Limited (“Chaucer”), a United Kingdom (“U.K.”) domiciled specialist insurance underwriting group which operates through the Society and Corporation of Lloyd’s (“Lloyd’s”), and the international insurance and non-insurance subsidiaries, which collectively constituted our former Chaucer segment. On December 28, 2018, we completed the sale of Chaucer Holdings Limited, the major portion of our Lloyd's international specialty business. As of December 31, 2018 and for all prior periods presented in this Annual Report on Form 10-K, operations from Chaucer and the related assets and liabilities are presented as discontinued operations. Results of operations also include the discontinued operations of our accident and health and former life insurance businesses. | 161 | 10K |
DirectLineInsuranceGroupPLC-AR_2013 | 1,936 | Deferred Annual Incentive Plan The table below details the deferred share awards to be granted to Paul Geddes and John Reizenstein in respect of the 2013 financial year. These awards are not subject to any conditions other than continuous employment. | 40 | annual_report |
2152 | 837 | At December 31, 2003, the carrying value of the general account fixed maturities was $28,678.0 million, representing 75.3% of the total investment portfolio. The net unrealized gain of this fixed maturity portfolio was $1,114.0 million, comprising gross unrealized gains of $1,237.0 million and gross unrealized losses of $123.0 million. Gross unrealized losses were across various sectors, the largest of which was corporate bonds. Within corporate bonds, the largest industry sectors were financial, consumer-cyclical, and consumer-non-cyclical, which as a percentage of total gross unrealized losses were 33.0%, 18.0% and 17.0%. Gross unrealized losses in any single issuer was less than 1.0% of the carrying value of the total general account fixed maturity portfolio. | 112 | 10K |
fr_axa-AR_2000 | 2,963 | Assets allocated to UK with-profit contracts, for which the policyholder participates in the investment return under the contract terms (refer to “Liabilities for insurance benefits and claims”), are reported at estimated fair value, with the change in estimated fair value of such assets recorded in income leading to an adjustment to the related insurance reserves. | 55 | annual_report |
AvivaPLC-AR_2014 | 3,375 | (i) Guaranteed annuity options Similar options to those written in the with-profit fund have been written in relation to non-profit products. Provision for these guarantees does not materially differ from a provision based on a market-consistent stochastic model, and amounts to £33 million at 31 December 2014 (2013: £31 million). | 50 | annual_report |
4070 | 534 | GAP losses and LAE increased 4.2%, or $245,815, to $6,034,697 in 2009 from $5,788,882 a year ago. The increase in losses was primarily caused by an increase in both frequency and severity of losses for the majority of our GAP customers which was partially offset by a decrease in losses as a result of the decline in premium described above. We believe the increase in severity in 2009 was primarily related to an overall decline in used automobile values when compared to a year ago. | 85 | 10K |
4464 | 677 | Our Consolidated Balance Sheets include significant amounts of derivative contract liabilities that are measured at fair value. Our significant derivative contract exposures are concentrated in credit default and equity index put option contracts. These contracts were primarily entered into in over-the-counter markets and certain elements in the terms and conditions of such contracts are not standardized. In particular, we are not required to post collateral under most of our contracts. Furthermore, there is no source of independent data available to us showing trading volume and actual prices of completed transactions. As a result, the values of these liabilities are primarily based on valuation models, discounted cash flow models or other valuation techniques that are believed to be used by market participants. Such models or other valuation techniques may use inputs that are observable in the marketplace, while others are unobservable. Unobservable inputs require us to make certain projections and assumptions about the information that would be used by market participants in establishing prices. Considerable judgment may be required in making assumptions, including the selection of interest rates, default and recovery rates and volatility. Changes in assumptions may have a significant effect on values. | 193 | 10K |
gb_prudential-AR_2004 | 289 | Insurance business: Fund management business: US broker-dealer and fund management (14) (3) (367)% (14) (3) (367)% | 16 | annual_report |
2583 | 1,162 | In August 2004, the Company entered into a settlement with the SEC and the New York Attorney General (the "NYAG") concerning their joint investigation into market timing in variable annuities issued by a former subsidiary of Old Conseco. Without admitting or denying the alleged findings of the investigation, the Company consented to the entry of a cease and desist order requiring its future compliance with securities laws. The settlement called for the payment of $5.0 million and for the SEC and NYAG to file a claim for an additional $10.0 million against the bankruptcy estate of a subsidiary of Old Conseco. Old Conseco sold its variable annuity subsidiary to an unrelated third party before filing for bankruptcy in December 2002, and no Conseco affiliates have issued any new variable annuity policies since the divestiture. | 134 | 10K |
NatixisSA-AR_2014 | 9,149 | The share capital has been set at €4,991,395,425.60, divided into 3,119,622,141 fully paid-up shares of €1.60 each. | 17 | annual_report |
3950 | 1,089 | Insurance margins (insurance policy income less insurance policy benefits) related to life products were $(14.7) million, $3.6 million and $(.2) million in 2009, 2008 and 2007, respectively. Such fluctuations were primarily due to changes in mortality. Earnings on our universal life products, which comprise a significant part of this block, are subject to volatility since our insurance acquisition costs are equal to the value of future estimated gross profits. Accordingly, the entire difference between our assumptions and actual experience is generally reflected in earnings in the period such differences occur. | 90 | 10K |
5380 | 1,053 | Ambac records as a component of its loss reserve estimate, subrogation recoveries related to securitized loans in RMBS transactions that breached certain representations and warranties described herein. Generally, the sponsor of a RMBS transaction provided representations and warranties with respect to the securitized loans, including representations and warranties with respect to loan characteristics, the absence of borrower fraud in the underlying loan pools and other misconduct in the origination process and attesting to the compliance of loans with the prevailing underwriting policies. In such cases, the sponsor of the transaction is contractually obligated to repurchase, cure or substitute collateral for any loan that breaches the representations or warranties. Ambac or its counsel have engaged consultants with significant mortgage underwriting experience to review the underwriting documentation for mortgage loans underlying certain insured RMBS transactions which exhibited exceptionally poor performance. Factors which Ambac believes to be indicative of poor performance include (i) increased levels of early payment defaults, (ii) significant numbers of loan liquidations or charge-offs and resulting high levels of losses, and (iii) rapid elimination of credit protections inherent in the transactions’ structures. With respect to item (ii), “loan liquidations” refers to loans for which the servicer has liquidated the related collateral and the securitization has realized losses on the loan; “charge-offs” refers to loans which have been written off as uncollectible by the servicer, generating no recoveries to the securitization, and may also refer to the unrecovered balance of liquidated loans. In either case, the servicer has taken actions to recover against the collateral, and the securitization has incurred losses to the extent such actions did not result in full repayment of the borrower’s obligations. | 275 | 10K |
3070 | 221 | Contractholder deposits decreased 12.7% in 2005 compared to 2004 due to lower deposits on fixed annuities. Fixed annuity deposits declined 19.1% in 2005 as lower deposits on traditional deferred fixed annuities and market value adjusted annuities were partially offset by increased deposits on immediate annuities without life contingencies. The decline in fixed annuity deposits resulted from reduced consumer demand relative to other short-term deposit products due to increases in short-term interest rates without corresponding increases in longer term rates, and pricing actions to increase fixed annuity product returns. Institutional product deposits decreased 5.4% in 2005 compared to 2004. | 98 | 10K |
1936 | 1,180 | As adjusted for the elimination of goodwill amortization under SFAS No. 142, as if adopted on January 1, 2001. | 19 | 10K |
PosteItalianeSpA-AR_2015 | 5,000 | Responsibility for coordinating and managing the investment strategy and the hedging of capital market risks has been assigned to the Parent Company’s Coordination of Investment Management function, which aims to ensure a uniform approach across the Group’s various financial entities. Treasury management for the | 44 | annual_report |
5714 | 1,355 | A reduction of the net carrying amount of deferred tax assets by establishing a valuation allowance is required if, based on the available evidence, it is more likely than not that such assets will not be realized. In assessing the need for a valuation allowance, all available evidence, both positive and negative, shall be considered to determine whether, based on the weight of that evidence, a valuation allowance for deferred tax assets is needed. This assessment requires significant judgment and | 80 | 10K |
AegonNV-AR_2011 | 1,646 | AEGON-CNOOC shares its morbidity and mortality risk with some international and national reinsurers. The mortality risk of individual products is shared through a surplus reinsurance structure. Most of the morbidity risks are taken by Gen Re and | 37 | annual_report |
ScorSE-AR_2009 | 3,108 | Senior management pension obligations (Article 39): The valuation of the reserve for senior management pension obligations is based on the following actuarial assumptions: Discount rate: 5.20% based on IBoxx EUR Corporate AA bonds 10Y+ rates at 31 December 2009 | 39 | annual_report |
NatixisSA-AR_2018 | 2,705 | The internal rating mechanism is based on: internal rating methodologies specific to the various Basela asset classes and consistent with Natixis’ risk profile; there is a unique rating procedure and methodology for each asset class; an IT system used for managing the successive stages of thea rating process, from the initiation of the process to the approval and logging of the complete process; procedures and controls that place internal ratings at the hearta of the risk management system, from transaction origination to ex-post analysis of defaulting counterparties and the losses incurred on the relevant loans; periodic reviews of rating methodologies, the method fora calculating the LGD and the underlying risk inputs. | 111 | annual_report |
4066 | 1,377 | With respect to the 2005-2007 performance cycle, 400,000 performance shares were originally granted to employees. Due to the impact of severe hurricane losses on our 2005 results, the estimated harvest ratio for this performance cycle was reduced to zero during 2005 and such performance shares were formally cancelled without payment in 2007. As a result, the Company recognized no performance share expense for grants made under this performance cycle during the periods presented herein. | 74 | 10K |
NatwestGroupPLC-AR_2010 | 4,627 | The UK authorised banks in the Group include the Royal Bank, NatWest, Coutts & Co and Ulster Bank Limited. Wholesale activities, other than Group Treasury activities, are concentrated in the Group's Global Banking & Markets and UK Corporate divisions, and are undertaken under the names of the Royal Bank and NatWest. UK retail banking activities are managed by the UK Retail division. The exception is Ulster Bank Limited, which is run as a separate division within the Group. Ulster Bank Group moved to a single brand in the Republic of Ireland during 2010, with First Active merging with Ulster Bank. Ulster Bank Limited provides banking services in Northern Ireland while the banking service in the Republic of Ireland is provided by Ulster Bank Ireland Limited, which is primarily supervised by the Central Bank of Ireland. | 135 | annual_report |
5631 | 431 | Equity securities primarily include common stocks, exchange traded and mutual funds, non-redeemable preferred stocks and real estate investment trust equity investments. Certain exchange traded and mutual funds have fixed income securities as their underlying investments. The equity securities portfolio was $1.33 billion as of December 31, 2018. | 47 | 10K |
5076 | 916 | As of December 31, 2015 and 2014, the Company had shares outstanding of Series A Preferred Stock. As of December 31, 2014, the Company had shares outstanding of Series M Preferred Stock and the remaining outstanding shares were retired and cancelled during | 42 | 10K |
917 | 1,596 | On October 15, 1998, The Hartford's Board of Directors approved a 5% increase in the quarterly dividend to $0.22 per share, payable January 4, 1999 to shareholders of record as of December 1, 1998. | 34 | 10K |
2925 | 869 | AIG’s Foreign General Insurance group accepts risks primarily underwritten through American International Underwriters (AIU), a marketing unit consisting of wholly owned agencies and insurance companies. The Foreign General Insurance group also includes business written by AIG’s foreign-based insurance subsidiaries. The Foreign General Insurance group uses various marketing methods to write both business and consumer lines insurance with certain refinements for local laws, customs and needs. AIU operates in Asia, the Pacific Rim, the United Kingdom, Europe, Africa, the Middle East and Latin America. | 83 | 10K |
gb_prudential-AR_2008 | 2,138 | Shareholders’ transfers post tax (284) – (23) (307) Investment-related items and other movements (16,331) (4,552) (4,293) (25,176) Foreign exchange translation differences (2,481) 12,753 5,589 15,861 | 25 | annual_report |
3947 | 1,764 | For the purpose of ASC 825 disclosure, we estimate the fair value for liabilities of investment contracts and annuities. We also estimate the fair value for assets arising from policyholder loans on insurance contracts. These estimates are developed using discounted cash flow calculations across a wide range of economic interest rate scenarios with a provision for our own credit risk. We base fair value for long-term senior notes | 68 | 10K |
3130 | 905 | Certain of our reinsurance payable balances contain embedded derivatives as defined in SFAS No. 133 Implementation Issue No. B36, "Embedded Derivatives: Modified Coinsurance Arrangements and Debt Instruments that Incorporate Credit Risk Exposures that are Unrelated or Only Partially Related to the Creditworthiness of the Obligor of Those Instruments". Such derivatives had an estimated fair value of $9.6 million and $17.4 million at December 31, 2006 and 2005, respectively. We record the change in the fair value of these derivatives as a component of investment income (classified as investment income from policyholder and reinsurer accounts). We maintain a specific block of investments related to these agreements in our trading securities account, which we carry at estimated fair value with changes in such value recognized as investment income (also classified as investment income from policyholder and reinsurer accounts). The change in value of these trading securities should largely offset the change in value of the embedded derivatives. | 155 | 10K |
1200 | 427 | At December 31, 1999 and 1998, net unrealized (depreciation) appreciation of $(247.8) million and $496.9 million, respectively, on available-for-sale debt securities included $(189.7) million and $355.8 million, respectively, related to experience-rated contracts, which were not reflected in shareholder's equity but in insurance reserves. | 43 | 10K |
SwissLifeHoldingAG-AR_2004 | 1 | Financial Statements 69 Index to the Financial Statements 71 Consolidated Financial Statements 71 Consolidated Statement of Income 72 Consolidated Balance Sheet 74 Consolidated Statement of Cash Flow 76 Consolidated Statement of Changes in Equity 79 Notes to the Consolidated Financial Statements 147 Report of the Group Auditors 148 Swiss Life Holding Financial Statements 155 Report of the Statutory Auditors 156 Dates and Contacts | 63 | annual_report |
5321 | 4,229 | In November 2015, MetLife, Inc. issued $500 million of senior notes due in November 2025 which bear interest at a fixed rate of 3.60%, payable semi-annually. Also in November 2015, MetLife, Inc. issued $750 million of senior notes due in May 2046 which bear interest at a fixed rate of 4.60%, payable semi-annually. In connection with the issuances, MetLife, Inc. incurred $10 million of related costs which have been capitalized and are being amortized over the terms of the senior notes. | 81 | 10K |
4083 | 867 | In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of Great-West Life & Annuity Insurance Company and subsidiaries as of December 31, 2009 and 2008, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2009, in conformity with accounting principles generally accepted in the United States of America. Also, in our opinion, such financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly in all material respects the information set forth therein. | 101 | 10K |
AegonNV-AR_2014 | 1,145 | Life’, which are written by Aegon Ireland plc, and the product guarantees within Investment Control and Income for Life, which are reinsured to Aegon Ireland plc, all Aegon UK contracts with investment guarantees are written in policyholder-owned funds | 38 | annual_report |
1399 | 656 | Valley's net results should begin to reflect its underwriting operations, in addition to the expenses related to the deployment of technology platforms described in the Liquidity and Capital Resources section. | 30 | 10K |
NatwestGroupPLC-AR_2013 | 3,687 | Risk management Frameworks and processes common to both traded and non-traded market risk management are described in this sub-section. Separate subsections on traded and non-traded market risk follow, which provide more detailed information specific to the management and measurement of these two risk types. | 44 | annual_report |
5884 | 559 | (1)IBNR represents an estimate of benefits payable for claims incurred but not reported (IBNR) at the balance sheet date and includes unprocessed claim inventories. The level of IBNR is primarily impacted by membership levels, medical claim trends and the receipt cycle time, which represents the length of time between when a claim is initially incurred and when the claim form is received and processed (i.e. a shorter time span results in a lower IBNR). | 74 | 10K |
DirectLineInsuranceGroupPLC-AR_2018 | 220 | Eight brands so that our customers can choose the proposition that suits them | 13 | annual_report |
1891 | 446 | Operating income from this segment represented 3.3%, 2.6%, and (1.1)%, of our total operating income for the years ending December 31, 2002, 2001 and 2000, respectively. Our operating income from this segment increased to $62 million in 2002, an increase of $10 million from 2001 operating income of $52 million. Operating income in 2001 increased $72 million from the operating loss of $(20) million in 2000. The 2002 increase is primarily attributable to decreased expenses. | 75 | 10K |
5839 | 714 | This discussion addresses claims and claim adjustment expenses as disclosed above. The amounts reported in the table are presented on a nominal basis, have not been discounted and represent the estimated timing of future payments for both reported and unreported claims incurred and related claim adjustment expenses. Both the total liability and the estimated payments are based on actuarial projection techniques, at a given reporting date. These estimates include assumptions of the ultimate settlement and administrative costs based on our assessment of facts and circumstances then known, review of historical settlement patterns, estimates of trends in claims severity, frequency and other factors. Variables in the reserve estimation process can be affected by both internal and external events, such as changes in claims handling procedures, economic inflation, legal trends and legislative changes. Many of these items are not directly quantifiable, particularly on a prospective basis. Additionally, there may be significant reporting lags between the occurrence of a claim and the time it is actually reported to us. The future cash flows related to the items contained in the table above required estimation of both amount (including severity considerations) and timing. Amount and timing are frequently estimated separately. An estimation of both amount and timing of future cash flows related to claims and claim adjustment expenses is generally reliable only in the aggregate with some unavoidable estimation uncertainty. | 226 | 10K |
NatwestGroupPLC-AR_2020 | 3,816 | (7) LAC value of senior unsecured debt securities issued by NatWest Group plc reflects par value for 31 December 2020 vs balance sheet value for 31 December 2019. | 28 | annual_report |
StandardLifeAberdeenPLC-AR_2009 | 1,101 | Rental yields are derived from rental income on our actual portfolio of Property (with three month lag) and a long-term best estimate. | 22 | annual_report |
NatixisSA-AR_2018 | 11,160 | Abroad, Natixis in Milan has also implemented a bicycle courier service. | 11 | annual_report |
DirectLineInsuranceGroupPLC-AR_2020 | 3,514 | Return on plan assets excluding amounts included in the net interest on the defined benefit asset 9.0 4.4 (3.5) 1.0 13.7 | 21 | annual_report |
StorebrandASA-AR_2015 | 593 | The return for customers in 2015 was 4.1 per cent for the largest portfolio of defined contribution pensions and 5.2 per cent for guaranteed pension products in Norway. The return is marked by the fact that we are experiencing historically low interest rate levels in Norway and the rest of Europe. Storebrand has adapted to the low interest rates through building up buffer capital, risk reduction on the investment side and changes to the products. Over time the level of the annual interest rate guarantee will be reduced. In the long term, enduring low interest rates will represent a risk for products with guaranteed interest rates running at a loss, and it is therefore important to deliver a return that exceeds the interest rate guarantee associated with the products. The performance of the property and equity markets is also considered a significant risk factor that affects the Group's results. | 149 | annual_report |
4751 | 1,418 | The conditional approvals also include certain additional conditions, limitations and reporting requirements that we anticipate will be included in the GSEs' final Eligibility Requirements, such as limits on costs allocated to NMIC under affiliate expense sharing arrangements, risk concentration, rates of return, requirements to obtain a financial strength rating, provision of ancillary services (i.e., non-insurance) to customers, transfers of underwriting to affiliates, notification requirements regarding change of ownership and new five percent (5%) shareholders, provisions regarding underwriting policies and claims processing as well as certain other obligations. | 87 | 10K |
fr_axa-AR_2011 | 11,791 | Society, which raises awareness for young students on the tropical forest ecosystem in Gabon. | 14 | annual_report |
4222 | 1,224 | We continually update loss reserve estimates as new information becomes known, new loss patterns emerge, or as other contributing factors are considered and incorporated into the analysis of reserve for claim losses. A substantial portion of our reserve for claim losses is attributable to title insurance operations. Estimating future title loss payments is difficult because of the complex nature of title claims, the long periods of time over which claims are paid, significantly varying dollar amounts of individual claims and other factors. Due to the uncertainty inherent in the process and to the judgment used by management the ultimate liability may be greater or less than our current reserves. As a result of continued volatility experienced during 2010 in claim development on policy years 2005 - 2007, we believe there is an increased level of uncertainty attributable to these policy years. | 141 | 10K |
5582 | 784 | In general, a change in assumption that improves the Company’s expectations regarding EGP is going to have the effect of deferring the amortization of DAC into the future, thus increasing earnings and the current DAC balance. DAC can be no greater than the initial DAC balance plus interest and would be subject to recoverability testing, which is ignored for purposes of this analysis. Conversely, a change in assumption that decreases EGP will have the effect of speeding up the amortization of DAC, thus reducing earnings and lowering the DAC balance. The Company also adjusts DAC to reflect changes in the unrealized gains and losses on available-for-sale fixed maturity securities since these changes affect EGP. This adjustment to DAC is reflected in accumulated other comprehensive income. | 125 | 10K |
SwissReAG-AR_2004 | 1,621 | Clear accountability: Swiss Re operates on the principle of delegated authority. Business units are accountable for the risks they take and their incentives are aligned with Swiss Re’s overall business objectives. | 32 | annual_report |
StandardLifeAberdeenPLC-AR_2019 | 368 | This is the second year we have disclosed a gender pay gap. Progress has been slow and this pace of change does not meet our aspirations. We are carrying out in-depth analysis to understand where we should be prioritising efforts to make a sustainable and significant change. | 47 | annual_report |
TrygAS-AR_2017 | 492 | The variable pay element consists of a Matching Shares Programme. The Executive Board may, using taxed funds, buy shares (so-called investment shares) in Tryg A/S at market price for a predefined amount, which is dependent on the member’s performance for the fiscal year. Four years after the purchase, Tryg will grant one matching share per investment share free of charge. Matching is conditional upon fulfilment of additional conditions such as continued employment and back testing (a testing prior to matching, to ensure that the criteria forming the basis of the calculation of the variable salary are still met at the time of matching). The purpose of the Matching Shares Programme is to ensure alignment of interests between the Executive Board and the company’s shareholders. | 124 | annual_report |
5816 | 262 | As a smaller reporting company, we have elected to comply with certain scaled disclosure reporting obligations, and therefore are not providing the information required by this Item. | 27 | 10K |
HelvetiaHoldingAG-AR_2015 | 2,708 | (CHF 24.7 million). The goodwill represents the expected potential for added value and synergies arising from the combination of the two groups. | 22 | annual_report |
ch_zurich_insurance_group-AR_2008 | 2,921 | Business Review 2008 The Business Review contains information about Zurich’s products, services and business performance, including a short summary of fi nancial information. It is available in German, French and English. | 31 | annual_report |
RSAInsuranceGroupPLC-AR_2014 | 662 | Trustee dialogue on future action • Tactical actions to mitigate reduction in yields • Defensive positioning to challenged Eurozone economies | 20 | annual_report |
4148 | 1,450 | In January 2009, the FASB revised the Investments - Other Topic of the FASB ASC in order to eliminate the requirement for holders of beneficial interests to estimate cash flow using a market participant’s assumptions regarding current information and events in determining the current fair value of the security. The revised accounting guidance requires the use of all available information relevant to the security, including information about past events, current conditions and reasonable and supportable forecasts. We adopted the revisions to the Investments - Other Topic as of December 31, 2008. The adoption did not have a material impact on our consolidated financial condition or results of operations. | 108 | 10K |
de_allianz-AR_2003 | 2,158 | Expenditures to restore the future economic benefit are capitalized if they extend the useful, as are improvements. Costs for repairs and maintenance are expensed. An impairment loss is recognized when the recoverable amount of these assets is less than their carrying amount. | 42 | annual_report |
TrygAS-AR_2006 | 798 | In addition to the provisions for claims, the provision for pension obligations in Norway is affected by changes in interest rates. A 1% increase in the discounting rate would cause the pension obligation to drop by DKK 163m. However, such changes do not affect results, as they are recognised in equity. | 51 | annual_report |
DirectLineInsuranceGroupPLC-AR_2017 | 622 | Earnings per share Basic earnings per share were 31.8 pence (2016: 20.4 pence) reflecting the increase in profit after tax. | 20 | annual_report |
4801 | 843 | FBL Financial Group, Inc. (we or the Company) operates predominantly in the life insurance industry through its principal subsidiary, Farm Bureau Life Insurance Company (Farm Bureau Life). Farm Bureau Life markets individual life insurance policies and annuity contracts to Farm Bureau members and other individuals and businesses in the Midwestern and Western sections of the United States through an exclusive agency force. Greenfields Life Insurance Company (Greenfields), a subsidiary of Farm Bureau Life, was launched in early 2013 and offers life and annuity products in the state of Colorado. Several subsidiaries support various functional areas of Farm Bureau Life and other affiliates by providing investment advisory, marketing and distribution, and leasing services. In addition, we manage two Farm Bureau affiliated property-casualty companies. | 122 | 10K |
StandardLifeAberdeenPLC-AR_2014 | 1,690 | IFRSs adopted in the period. Refer to Group accounting policies – (a) Basis of preparation. 2 Cash and cash equivalents at the end of the year include cash and cash equivalents in respect of operations held for sale. Refer to Note 28 – Cash and cash equivalents for reconciliation to consolidated statement of financial position. | 55 | annual_report |
SwissReCorporateSolutions-AR_2017 | 668 | 13 Obligations towards employee pension fund As of 31 December 2017, other liabilities included CHF 1 million payable to the employee pension fund (2016: CHF 2 million). | 27 | annual_report |
RSAInsuranceGroupPLC-AR_2013 | 1,604 | Recruitment of new Group Chief Executive Stephen Hester joined the Board on 5 February 2014. His remuneration package is set out below: • Base salary: £950,000 per annum. No sign-on payments or other similar exceptional, compensatory remuneration will be paid. | 40 | annual_report |
325 | 2,748 | Certain of the statements contained herein (other than statements of historical fact) are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are made based upon management's expectations and beliefs concerning future developments and their potential effect upon ITT Hartford Group, Inc. ("The Hartford" or the "Company"). There can be no assurance that future developments will be in accordance with management's expectations or that the effect of future developments on The Hartford will be those anticipated by management. Actual results could differ materially from those expected by The Hartford, depending on the outcome of certain factors, including those described with the forward-looking statements herein. | 120 | 10K |
Sampoplc-AR_2005 | 1,392 | Banking and investment services, total 74 78 p&c insurance financial assets | 11 | annual_report |
GjensidigeForsikringASA-AR_2010 | 2,165 | Other loans are primarily interest-free loans to agricultural customers. The loans are in their entirety intended for installment of fire detection systems with these customers. There is no mortgage attached to the loans, and the terms varies from two years to over 20 years. gjensidige Forsikring has not offered this type of loan to its customers in 2010 or 2009. The default rate is 1.5 per cent at year end, compared to 0.76 per cent in 2009. The discount rate used is 4.66 per cent. | 85 | annual_report |
4617 | 1,259 | Litigation over the NYSDFS approval of National’s creation or additional hurdles to achieving high stable ratings may continue to impede National’s ability to resume writing municipal bond insurance, reducing its long-term ability to generate capital and cash from operations. An adverse result in the litigation could result in a cessation of National’s ability to write new business and a material adverse effect on National and the Company. | 67 | 10K |
2162 | 503 | the third quarter, particularly in our Florida, Ohio and Kentucky markets. We also established the deferred tax valuation allowance in the third quarter of 2003, as there was not adequate support regarding the availability of future taxable income based on our recent loss history. Our net loss in 2002 was primarily the result of a $55.1 million underwriting loss, and a $9.1 million charge, net of tax, for the write-off of goodwill, which was recorded as a cumulative effect of a change in accounting principle, partially offset by $44.8 million of investment income. | 93 | 10K |
NatwestGroupPLC-AR_2013 | 850 | A competitive tender process is required for all proposed non-audit services engagements where the fees are expected to exceed £100,000. Engagements below £100,000 may be approved by the Chairman of the Group Audit Committee; as an additional governance control all engagements have to be approved by the Group Chief Accountant and Group Procurement. Where the engagement is tax related, approval must also be obtained from the Head of Group Taxation. Ad hoc approvals of non-audit services are ratified by the Group Audit Committee each quarter. During 2013, the External Auditor were approved to undertake certain significant engagements which are categorised and explained more fully below: Regulatory requests and attestations (three engagements) Regulators, both UK-based and overseas, requested certain work be undertaken by the Group during 2013 to provide assurances and meet certain requirements. In all three such engagements undertaken by the External Auditor, their existing knowledge of the Group was highlighted as a strong benefit. It allowed the work to commence quickly and with minimal disruption in all instances. The benefits of maintaining consistency between similar engagements was also highlighted. | 180 | annual_report |
4062 | 909 | Three nonemployee directors of the Company are also owners of independent insurance agencies. These individuals are currently appointed as agents with and write insurance for the Company. The terms and conditions of the agency agreements between these agencies and the Company are similar in all material respects to agency agreements with other agents of the Company. The Company pays all agencies commissions on business produced. All agencies are also able to earn profit sharing commissions based on the profit margins of the business produced. Total regular and profit sharing commissions earned by these agencies approximated $548,000, $545,000 and $526,000 in 2009, 2008 and 2007, respectively. The commission rates, including profit sharing commission opportunity, are the same as other agents of the Company. The agencies are independent agents and also write with regional and national insurers that may be competitors of the Company. | 142 | 10K |
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