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AssicurazioniGeneraliSpA-AR_2016
1,215
The Regulatory Solvency Ratio, estimated on the basis of preliminary data, amounts to 177.2%3 as at 31 December 2016. For the purpose of the Regulatory Solvency Ratio calculation, the Group companies within the PIM scope use the PIM, while other insurance entities adopt the EIOPA Standard Formula to calculate the SCR. Other financial regulated entities contribute to the Group Solvency Ratio on the basis of local sectorial regulatory requirements (e.g. mostly banks and pension funds).
75
annual_report
4815
1,995
reserves and IBNR reserves has a significant impact on reinsurance recoverables. These factors can impact the amount and timing of the reinsurance recoverables to be recorded.
26
10K
gb_lloyds_banking_grp-AR_2009
4,802
Later than 1 year and not later than 5 years 3,577 1,775
12
annual_report
345
470
The Company's principal variable expense is commissions paid to independent agents. The Company regularly reviews the profitability of its agency revenues; contracting in unprofitable markets and expanding where acceptable levels of profitability are available. The Company continually monitors its operating margin, which is the percentage of operating revenues less salaries and employee benefits, agency commissions and other expenses to operating revenues.
61
10K
PowszechnyZakladUbezpieczenSA-AR_2012
1,033
An internship program aimed at strengthening the position of PZU as an employer of choice was launched in order to enable students and young graduates to develop their knowledge and skills and apply them in practice.
36
annual_report
SwissReAG-AR_2018
3,520
Significant Significant other unobservable 2018 observable inputs inputs USD millions (level 2) (level 3) Total
15
annual_report
StorebrandASA-AR_2007
2,048
Liquidity risk Liquidity risk is the risk that the company will not be able to meet its payment obligations when they fall due, or that the company will not be able to sell securities at acceptable prices. This risk is limited by a substantial part of the assets being invested in listed securities with good liquidity.
56
annual_report
2384
1,120
Pursuant to the Summary of Terms, the parties are currently negotiating a definitive option agreement with respect to CSFB’s option to acquire the outstanding SPS common stock. While we expect this definitive agreement to be executed by all parties, we cannot estimate the impact to our financial condition of a failure to consummate such agreement.
55
10K
PosteItalianeSpA-AR_2019
1,284
B2C: acronym for Business to Consumer. A modular offer created for e-commerce with a choice of accessory services.
18
annual_report
SwissReAG-AR_2020
252
Our people Our people form the basis of everything we do, with our attitude and mindset playing a critical role in how we execute on our strategy employees across the Swiss Re Group as of 31.12.2020
36
annual_report
1765
605
The Company also invests in certain short-term notes issued by GE Capital. These investments yield market rates. Interest earned on these notes was $0, $3 and $1 for the years ended December 31, 2001, 2000 and 1999, respectively. There were no investments in short-term notes at December 31, 2001, and investments were $97 and $0 at December 31, 2001 and 2000, respectively.
62
10K
2215
575
Additionally, the loss from continuing operations was impacted by the change in valuation allowance for deferred taxes. During the year ended December 31, 2002, the Company’s ability to generate sufficient taxable income in future periods was significantly impacted by the discontinuance of the Agricultural Segment and the only remaining insurance subsidiary of the Company being placed under supervision by the NEDOI. Management concluded it is unlikely that the deferred tax asset will be realized and recorded a valuation allowance related to continuing operations of $36.1 million as of December 31, 2002.
91
10K
BeazleyPLC-AR_2015
618
Beazley’s programme to prepare for Solvency II began in 2008 and is now substantially complete. Our project to prepare for the pillar 3 reporting requirements is ongoing and will remain in place until annual reporting for 31 December 2016 is complete. We believe we are strongly positioned to meet all the reporting requirements.
53
annual_report
5154
1,550
Net cash flows relating to continuing operations in 2015 increased $40.4 million relative to 2014, primarily due to increased cash collateral received related to our Surety business and lower incentive payments which more than offset increased loss and LAE payments relative to the prior year. Net cash flows relating to continuing operations in 2014 decreased $53.4 million relative to 2013, primarily due to outflows from loss and LAE payments exceeding inflows from premiums driven by larger claims in 2014, premium advances to the Federal Crop Insurance Corporations related to our Crop Business in 2014, and a $39.6 million decrease in net collateral receipts related to our Surety business.
108
10K
2779
838
Fixed maturities and equity securities: Fair values are based upon quoted market prices or dealer quotes for comparable securities.
19
10K
ScorSE-AR_2014
782
On 12 December 2011, SCOR placed a new catastrophe bond (“cat bond”), Atlas VI Capital Limited Series 2011-1 and 2011-2, which provides the Group with USD 270 million of protection against US Hurricanes and Earthquakes and EUR 50 million of protection against European windstorms, for a risk period extending from 13 December 2011 to 31 December 2014 for the US series and from 13 December 2011 to 31 March 2015 for the European series. This transaction succeeded Atlas V Capital Limited, which provided similar geographical cover as the one of the Series 20111 for an amount of USD 200 million for the risk period from 20 February 2009 to 19 February 2012.
112
annual_report
ASRNederlandNV-AR_2009
344
Apart from these structural changes, new products have been developed on next generation platforms. in 2009, the first of the next generation products were launched by both life and non-life in response to the rapidly changing market demand.
38
annual_report
4769
774
Personal Lines underwriting profit for the year ended December 31, 2013 was $37.6 million, compared to a loss of $67.3 million for the year ended December 31, 2012, an improvement of $104.9 million. This was primarily due to decreased catastrophe losses and improved non-catastrophe current accident year results. Catastrophe losses for the year ended December 31, 2013 were $66.9 million, compared to $134.8 million for the year ended December 31, 2012, a decrease of $67.9 million. Catastrophe losses in 2012 included $45.2 million of pre-tax losses related to Superstorm Sandy. Unfavorable development on prior years’ loss reserves for the year ended December 31, 2013 was $13.7 million, compared to unfavorable development of $26.5 million for the year ended December 31, 2012, a change of $12.8 million.
126
10K
gb_lloyds_banking_grp-AR_2009
6,949
Net charge in respect of defi ned benefi t schemes 529 164
12
annual_report
5857
678
Goodwill-Goodwill represents the excess of the purchase price over the estimated fair values of identifiable assets and liabilities acquired in a business combination as of the acquisition date. Goodwill is not amortized in accordance with the requirements of ASC 350, Intangibles-Goodwill and Other (“ASC 350”). ASC 350 requires that the Company test goodwill for impairment on an annual basis and whenever events or circumstances indicate that the asset may be impaired. The Company considers significant unfavorable industry or economic trends as factors in deciding when to perform an impairment test. Goodwill is allocated among, and evaluated for impairment, at the reporting unit level, which is defined as an operating segment or one level below an operating segment. The Company performs the annual goodwill impairment as of April 1. Refer to Note 2 of the consolidated financial statements regarding goodwill recorded as a result of the InsideResponse acquisition (as defined in Note 2 to the consolidated financial statements).
157
10K
StandardLifeAberdeenPLC-AR_2015
2,425
Assets of operations held for sale Canadian business - 29,254 Investment vehicles 207 63 Investments in associates at FVTPL 33 11 Investment property 87 10 Assets held for sale 327 29,338 Liabilities of operations held for sale 83 28,033
39
annual_report
TopdanmarkAS-AR_2019
81
Segment reporting Private The private segment offers policies to individual households in Denmark.
13
annual_report
5062
1,503
The Related Person Transaction Policy provides that all transactions with related persons covered by the policy must be reviewed and approved and ratified by the Audit Committee or disinterested members of the board of directors and that any employment relationship or transaction involving an executive officer and any related compensation must be approved or recommended for the approval of the board of directors by the Compensation Committee.
67
10K
2550
730
Auto residual value reinsurance net earned premiums were $(32.2) million in 2004 as we commuted our remaining auto residual value reinsurance business and transferred assets with a market value of $108.3 million to a subsidiary of ACE. This transaction caused a $(6.5) million underwriting loss, partially offset by a $6.8 realized gain. For 2003 and 2002 we had net earned premiums of $4.2 million and $2.3 million, and underwriting losses $35.1 million and $8.1 million respectively. The underwriting loss of $35.1 million in 2003 is a result of an increase in reserves for losses and loss adjustment expenses related to a dispute with World Omni (see Note 15 of notes to consolidated financial statements for further discussion).
117
10K
ScorSE-AR_2020
41
Return on equity – before U.S. tax reform (1) 3.8% 7.0% 6.6%
12
annual_report
BeazleyPLC-AR_2016
2,039
When testing for impairment, the recoverable amount of a CGU is determined based on value in use. Value in use is calculated using projected cash flows based on financial budgets approved by management covering a five-year period. Key assumptions used in preparation of projected cash flow include premium growth rates, claims experience, retention rates and expected future market conditions. For prudence purposes, a growth rate of 0% is used to extrapolate projections beyond the covered period. A pre tax discount rate of 7% (2015: 9%) has been used to discount the projected cash flows of each CGU. The discount rate of 7% (2015: 9%) reflects the group’s expected cost on equity and cost of borrowing and has been calculated using independent measures of the risk-free rate of return and the group’s risk profile relative to the risk-free and market rates of return and, as such, is considered representative of the rate appropriate to the risk specific to the CGU. As all segments undertake underwriting activities supported by the same capital base, the same discount rate has been applied to all operating segments.
182
annual_report
LloydsBankingGroupPLC-AR_2010
6,439
Total preference shares 1,165 1,983 a Since 2004, the Company has had in issue 400 6 per cent non-cumulative preference shares of 25p each. The shares, which are redeemable at the option of the Company at any time, carry the rights to a fixed rate non-cumulative preferential dividend of 6 per cent per annum; no dividend shall be payable in the event that the directors determine that prudent capital ratios would not be maintained if the dividend were paid. Upon winding up, the shares rank equally with any other preference shares issued by the Company. The holder of the 400 25p 6 per cent preference shares has waived its right to payment for the period from 1 March 2010 to 1 March 2012.
123
annual_report
2010
4,742
• Governmental regulation of the industry including Medicare and Medicaid reimbursement levels
12
10K
2667
681
to increased claim frequency and severity from unusually harsh winter conditions in Massachusetts during the first quarter of 2003 on our homeowners line of business.
25
10K
5668
3,347
AUD$0.242 per share, which represented an aggregate distribution of approximately AUD$100 million.
12
10K
1934
711
The amortized cost and estimated market value of bonds, excluding the GIC bond portfolio, at December 31, 2002, by contractual maturity, are shown below (in thousands). Actual maturities could differ from contractual maturities because borrowers have the right to call or prepay certain obligations with or without call or prepayment penalties.
51
10K
NatixisSA-AR_2003
4,019
There was also a decline in lending operations and an increase in securities received under repo transactions.
17
annual_report
629
167
(1) Includes short-term securities. These bonds are collateralized by mortgages backed by FNMA, GNMA or FHLMC and include collateralized mortgage obligations and pass-through securities. These amounts also include asset backed securities such as credit card, automobile and residential mortgage securities.
40
10K
HannoverRueckSE-AR_2008
2,186
Fair Value at 31.12.2008 (in EUR) 2.45 2.86 4.48 3.62 3.43 1.73
12
annual_report
ch_zurich_insurance_group-AR_2005
624
Net capital gains/ Net investment (losses) on investments income and impairments 1 Investment result
14
annual_report
5187
1,478
The Company will reevaluate a loan's credit quality between annual reviews if new property information is received or an event such as delinquency or a borrower's request for restructure causes management to believe that the Company's estimate of financial performance, fair value or the risk profile of the underlying property has been impacted.
53
10K
LloydsBankingGroupPLC-AR_2010
2,370
– Delay Repossession: Under this initiative lenders will not begin repossession proceedings for at least three months when a customer is in arrears. This does not apply to fraud cases. The undertaking comes alongside an existing agreement under which mortgage providers are obliged to explore a range of options, such as payment holidays and altering the terms of a mortgage, before resorting to repossession.
64
annual_report
4183
6,331
Since its formation in the fourth quarter of 2009, Saybrus’ results of operations have steadily improved throughout 2010 as revenue has increased and expenses have declined. Total revenue in 2010 was $6.0 million, $3.3 million of which was earned from partner companies as Saybrus gained traction in the marketplace. The remaining revenue of $2.7 million was earned from the sales of Phoenix life and annuity products. Operating expenses declined on a quarter by quarter basis from $7.8 million in the fourth quarter of 2009 to $25.0 million for the year ended December 31, 2010, with the decline primarily driven by Saybrus’ sales force compensation which transitioned from a fixed to a more variable compensation structure.
115
10K
INGGroepNV-AR_2020
6,139
Total received collateral available for sale or repledge at fair value of which sold or repledged at fair value
19
annual_report
4191
2,649
While certain securities included in the preceding tables were considered other-than-temporarily impaired, we expect to recover the new amortized cost based on our estimate of cash flows to be collected. We do not intend to sell and it is not more likely than not that we will be required to sell these securities prior to recovering our amortized cost.
59
10K
5796
871
The following tables provide changes in the balances of each component of accumulated other comprehensive income, net of tax, for the periods ended December 31, 2019, 2018 and 2017:
29
10K
1557
746
Fees incurred for financial reinsurance were approximately $372,000 and $675,000 during 1999 and 1998, respectively. The Company had no financial reinsurance during 2000.
23
10K
INGGroepNV-AR_2016
6,361
In order to assess the facts and circumstances, we obtained and assessed underlying underwriters documentation and the relevant regulatory and litigation documents, including (external) lawyer’s letters, we read minutes from relevant committees, we inquired with senior management and we interviewed ING Group’s legal counsel and, where necessary, external lawyers of ING Group. We also assessed the assumptions made and key judgements applied by management based on our own assessment and knowledge of market information.
74
annual_report
AegonNV-AR_2008
3,959
Variable annuities allow a customer to select payout options designed to help meet the customer’s need for income upon maturity, including lump sum payment or income for life or for a period of time. This benefit guarantees that a policyholder can withdraw a certain percentage of the account value, starting at a certain age or duration, for either a fixed period or during the life of the policyholder.
68
annual_report
SwissReAG-AR_2013
622
economic indicators 2012–2013 USa eurozone Uk Japan china 1 Yearly average 2 Year-end 3 USD per 100 units of foreign currency Source: Swiss Re economic Research & consulting, Datastream, ceIc
30
annual_report
SwissReAG-AR_1992
563
Third party contingent liabilities as at 31 December 1992 totalled Sw.frs. 121.6 million. Of this amount guarantees accounted for Sw. frs. 91.6 million, sureties Sw. frs. 26.0 mil­ lion and pledges and charges Sw.frs.4.0 million. In addi­ tion there are six unlimited guarantees. Contingent liabili­ ties arising from insurance and reinsurance business are not included.
55
annual_report
fr_axa-AR_2000
4,065
Effect of restructurings and intercompany sales of consolidated subsidiaries (14) (14) 10 10 26 28
15
annual_report
5700
2,274
General operating and other expenses declined in 2019 compared to 2018 primarily due to lower employee related expenses and professional fee reductions pertaining to expense reduction initiatives. The declines were partially offset by an increase in expenses caused by the acquisitions of Validus and Glatfelter in the third and fourth quarters of 2018, respectively. General operating and other expenses increased in 2018 compared to 2017 due to the acquisition of Validus, business growth and continued investments in business platforms.
79
10K
3426
1,152
During 2007, we paid $29.9 million in cash dividends and distributions to our common shareholders and warrant holders.
18
10K
Sampoplc-AR_2011
1,037
and the cost of reinsurance must be favorable compared to the cost of capital.
14
annual_report
HannoverRueckSE-AR_2004
376
The remaining value of the in-force business is attributable to a large number of non-financing transactions. The future impairment of this subportfolio was calculated by modelling clusters of similar business.
30
annual_report
4137
1,802
The increase in the ratio of cash to invested assets since 2007 is principally attributable to significant cash redemptions received from our hedge fund portfolio, growth in gross premiums written, and a desire to maintain high levels of liquidity, partially offset by the repayment of debt during the period. We anticipate this ratio to decrease as we seek to deploy cash in higher-yielding investments.
64
10K
ASRNederlandNV-AR_2012
396
He is also responsible for Property Development, Property Asset Management and the support departments ICT and Information & Project Management.
20
annual_report
3165
2,605
Bonds, available for sale at market (cost of $1,030,716 and $1,024,545, respectively) (1)
13
10K
5414
935
No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the years ended December 31, 2017 and 2016.
22
10K
de_allianz-AR_2017
761
The transition payment comprises an amount corresponding to the most recent base salary, covering a period of six months, plus 25 % of the target variable remuneration at the notice date. A Board member with a base salary of € 750 thou would receive a maximum
46
annual_report
NatixisSA-AR_2010
3,282
If the fair value of an available-for-sale financial asset increases during a subsequent period, and this increase can be objectively linked to an event occurring after the impairment loss was charged to income: − reversals of impairment losses on equity instruments are recorded in equity rather than in the income statement,
51
annual_report
SwissLifeHoldingAG-AR_2004
1,082
Investment management and banking expenses –151 –4 –2 –417 –137 1 75 –635
13
annual_report
4770
1,639
During the second quarter of 2012, Radian Guaranty entered into a quota share reinsurance (“QSR”) agreement with a third-party reinsurance provider (the “Initial QSR Transaction”). Through the Initial QSR Transaction, Radian Guaranty agreed to cede to the third-party reinsurance provider 20% of its NIW beginning with the business written in the fourth quarter of 2011 up to $1.6 billion of ceded RIF. As of December 31, 2013, RIF ceded under the Initial QSR Transaction was $1.3 billion. Radian Guaranty has the ability, at its option, to recapture two-thirds of the reinsurance ceded as part of this transaction on December 31, 2014, which would result in Radian Guaranty reassuming the related RIF in exchange for a payment of a predefined commutation amount from the reinsurer. We ceded that maximum amount permitted under the Initial QSR Transaction, and therefore, are no longer ceding NIW under this transaction.
145
10K
675
418
Of the bad debt expense of $1.8 million in 1997, $1.1 million relates to a valuation reserve established to estimate the net recovery of $1.2 million in refundable advances made by OmniCare-TN to a third party administrator. The third party administrator has denied the obligation and, as a result, the Company is pursuing legal action to collect the receivable. The balance of the 1997 bad debt expense is due to an additional write-down of approximately $.7 million recorded to reduce the Company's $4.0 million investment in HealthScope. Prior year reserves totaled $1.1 million. As the investment was capital in nature, no tax credits have been taken against the cumulative reserve of $1.8 million. MANAGEMENT BELIEVES THAT THE CONTINUED OPERATIONAL IMPROVEMENTS MADE BY THE NEW MANAGEMENT OF HEALTHSCOPE, THE REDUCTION OF MONTHLY OPERATING COST, CLIENT GROWTH AND THE ANNOUNCED ROLLOUT OF THE STATE OF NEW YORK'S MANDATORY MEDICAID INITIATIVE IN EARLY 1998, ARE ALL CRITICAL FACTORS IN DETERMINING THE ULTIMATE RECOVERABILITY OF THIS INVESTMENT.
163
10K
SwissLifeHoldingAG-AR_2004
2,044
Swiss Life Banque (formerly Société suisse Banque), Paris PB ° 99.6% 100.0% full EUR 20 000
16
annual_report
2101
775
On December 31, 2001 we filed Form S-3 with the United States Securities and Exchange Commission, which provides a shelf registration for an aggregate of $750.0 million of our securities available to be issued. These securities may be debt securities, equity securities or a combination thereof.
46
10K
4232
925
We recognize stock-based compensation expense, as determined on the date of grant at fair value, straight-line over the period during which an employee is required to provide service in exchange for the award (usually the vesting period). We estimate expected forfeitures and recognize compensation expense only for those awards which are expected to vest. We estimate the grant-date fair value of stock options using the Black-Scholes option- pricing model. In addition, we report certain tax effects of stock-based compensation as a financing activity rather than an operating activity in the consolidated statement of cash flows. Additional detail regarding our stock-based compensation plans is included in Note 13.
107
10K
929
273
The Company's principal executive offices, comprised of approximately 35,000 square feet of office space leased through April 2000, are located in Pasadena, California. The Company is currently evaluating various alternatives for its headquarters office after its current lease expires. In addition, the Company maintains 22 branch offices in various locations in the western United States and Florida in leased facilities with various lease terms. Management believes that the Company's facilities are suitable and adequate for their intended uses.
78
10K
StorebrandASA-AR_2006
658
Folketrygdfondet ORD 20 111 600 8.05 NOR Storebrand ASA ORD 4 500 000 1.80 NOR
15
annual_report
NatixisSA-AR_2006
3,873
Ixis Hawai Special Member LLC(27) Commercial real estate fi nancing 100 100 - - - -
16
annual_report
5536
1,169
In the fourth quarter of 2018, our board of directors approved a share repurchase program, which authorizes us to repurchase up to $250 million of Class A shares. We repurchased 2.5 million Class A shares for $100 million under this authorization during the year ended December 31, 2018. Subsequent to December 31, 2018 and through February 22, 2019, we repurchased an additional 1.2 million Class A shares for $47 million.
70
10K
1141
286
Income in the individual disability income line of business increased to $256.7 million in 1999 from $190.0 million in 1998. As discussed in the preceding "Accounting Policy Changes, Financial Statement Reclassifications, and Merger Expenses," in the second quarter of 1999 the Company lowered the discount rate used to calculate certain of Unum's disability claim reserves to conform with Provident's process and assumptions, which decreased individual disability income by $38.9 million in 1999.
72
10K
3741
812
Gross premiums ceded decreased to $58.5 million for 2007 as compared to $78.0 million for 2006. Our reinsurance premiums resulting from our contracts with private reinsurance companies are based mainly on the total insured value and the projected maximum loss of the underlying reinsured policies. Those premiums are also based on the amount of coverage the private reinsurance contracts must offer related to the portion of potential catastrophe losses not covered by our contract with the Florida Hurricane Catastrophe Fund. The decrease in gross premiums ceded resulted from a lower TIV and PML in the current year compared to the prior year, as well as from an increase in the coverage provided by the FHCF contract over the prior year’s FHCF contract.
122
10K
2770
792
Accounting for Stock-Based Compensation. The Company uses the intrinsic value method in accounting for its stock-based compensation plans. The fair value pro forma presentation in Note 2 was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for grants in 2005, 2004 and 2003, respectively: dividend yield of 0% for all years; expected volatility of 45%, 74% and 73%; risk-free interest rates of 3.94%, 3.48% and 2.93%; and expected lives of 3.4, 4.6 and 5.3 years. The weighted average fair value of options granted in 2005, 2004 and 2003 was $30.21, $24.04 and $10.94, respectively.
105
10K
2958
1,346
The following methods and assumptions were used by the Company in estimating its fair value disclosure for financial instruments. These determinations were made based on available market information and appropriate valuation methodologies. Considerable judgment is required to interpret market data to develop the estimates and therefore, they may not necessarily be indicative of the amount the Company could realize in a current market exchange.
64
10K
SwissLifeHoldingAG-AR_2010
2,800
TOTAL CORPORATE EXECUTIVE BOARD 58 551 1 Total number of PSUs allocated in the years 2008, 2009 and 2010 in connection with the relevant equity compensation plan. The PSUs represent future subscription rights that entitle the individuals concerned to receive SLH shares after a period of three years, provided that the relevant conditions are then met.
56
annual_report
3047
1,093
Ceded unpaid losses and LAE recoverable, net of salvage and subrogation, by line of business at December 31, 2006 and 2005 follow (in millions):
24
10K
StandardLifeAberdeenPLC-AR_2014
3,274
Commitments to extend credit with an original term to maturity of one year or less 1 66
17
annual_report
Sampoplc-AR_2003
1,357
Property for letting under fi nance lease 91,785 64 3.9 0.0
11
annual_report
NatwestGroupPLC-AR_2020
680
• #1 lead manager for sustainability-labelled debt for UK corporates (2) (Dealogic, full year 2020)
15
annual_report
SwissReCorporateSolutions-AR_2018
58
Additional paid-in capital Balance as of 1 January 687 1 719 Capital contribution 1 000 Impact of sale to non-controlling shareholder 34 Dividends on common shares –50 Share-based compensation –2 –4 Balance as of period end 1 719 1 665
40
annual_report
4043
1,076
Future policy benefits and other policyholders' funds: Fair values of our liabilities under contracts not involving significant mortality or morbidity risks (principally deferred annuities, deposit administration funds, funding agreements and supplementary contracts) are estimated using one of two methods. For contracts with known maturities and index annuity embedded derivatives, fair value is determined using discounted cash flow valuation techniques based on current interest rates adjusted to reflect our credit risk and an additional provision for adverse deviation. For deposit liabilities with no defined maturities, fair value is the amount payable on demand. We are not required to estimate the fair value of our liabilities under other insurance contracts.
108
10K
AvivaPLC-AR_2014
2,540
Discontinued operations In the products and services analysis, the results of US Life (including the related internal asset management business) for comparative periods are presented as discontinued operations up to the date of disposal in October 2013.
37
annual_report
5900
1,479
•Forward benchmark interest rate locks are used to minimize interest rate risk associated with the anticipated purchase or disposal of fixed maturity securities or debt. A forward benchmark interest rate lock is a derivative contract without an initial investment where we and the counterparty agree to purchase or sell a specific benchmark interest rate fixed maturity bond at a future date at a pre-determined price.
65
10K
AvivaPLC-AR_2000
17
Shareholders’ funds >Worldwide long-term savings new business sales up 24%** to £13.5 billion >Increasing distribution strength through alliances with banks in Europe >Actively developing new e-enabled applications; 2001 will see the launch of our UK online wealth management service >Rapid and successful integration progress – on track to achieve our target of £275 million annual cost savings by end 2001 >Agreement for the sale of US general insurance business and exit from UK London Market business at a cost of £1.3 billion after tax *Includes life achieved operating profit, is stated before amortisation of goodwill and exceptional items and excludes operating profit from businesses discontinued (UK London Market) and to be discontinued (US general insurance)
115
annual_report
3249
1,463
Net income from financial and investment affiliates include earnings on the Company’s investment in Primus and certain of the Company’s investment affiliates. Primus specializes in providing credit risk protection through credit derivatives. The increase in the year ended December 31, 2006 as compared to the same period in 2005 was due primarily to the profitability of Primus which contributed $22.6 million in 2006 as compared with $4.6 million in 2005, combined with continued strong performance of certain investment affiliates. The decrease in such earnings in 2005, as compared to 2004, was due primarily to the lower earnings from Primus in 2005.
101
10K
LloydsBankingGroupPLC-AR_2014
1,811
As disclosed in previous reports, since his appointment, the Group Chief Executive has a reference salary of £1.22 million which is used to calculate certain elements of long-term remuneration and the pension allowance.
33
annual_report
AvivaPLC-AR_2013
2,652
Financial investments and loans measured at fair value (notes 24 & 27) Loans — 18,973 — 18,973 8,961 (3,397) 24,537 Fixed maturity securities 108,107 43,588 10,082 161,777 — (33,617) 128,160 Equity securities 33,610 230 473 34,313 — (1,248) 33,065 Other investments (including derivatives) 20,533 5,650 2,885 29,068 — (1,550) 27,518
50
annual_report
5406
2,973
The following table presents a reconciliation of the Company's unrecognized tax benefits:
12
10K
gb_lloyds_banking_grp-AR_2003
136
All the evidence shows that these policies and practices, more fully described in our corporate social responsibility report, The Community & our Business, are fundamental to creating employee motivation and performance, customer satisfaction and loyalty, community endorsement and appreciation, and supplier commitment. And all, of course, lead directly to long-term value creation for shareholders.
54
annual_report
70
668
payments made under the first swap is approximately offset by the market fluctuations related to the second swap. The Company records realized and unrealized gains and losses on such investments in net income on a current basis. The amounts of the gain included in net income during 1994, 1993 and 1992 totaled $0.0 million, $1.5 million and $1.0 million, respectively.
60
10K
5728
880
(1) Effective January 1, 2018, the Company adopted ASU 2018-02 and ASU 2016-01 and this amount represents reclassifications to retained earnings associated with the disproportional income tax effects of the Tax Act on items within accumulated other comprehensive income (“AOCI”) and unrealized losses in AOCI relating to available-for-sale equity security investments, respectively.
52
10K
5335
552
Insurance administrative expenses were up 5.6% in 2016 when compared with the prior year period, and increased to 6.3% as a percentage of premium from 6.2% in 2015 and 2014. The increase in administrative expenses is primarily due to investments in information technology that will enhance our customer experience, improve our data analytic capabilities, improve our ability to adapt to future changes and bolster our information security programs. Stock compensation expense declined $2 million in 2016 to $26.3 million compared with a decrease of $4 million in 2015 to $28.7 million. The decline in stock compensation expense in 2016 and 2015 resulted primarily from lower expense associated with performance shares as well as lower option values on 2016 and 2015 option awards.
122
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2002
1,329
As part of our risk management we regularly examine what claims burdens we are able and willing to carry, and adjust our acceptance policy and our retrocessions accordingly. We also use defined scenarios as an early-warning device for considering events whose occurrence appears less probable and take account of this in our liquidity planning.
54
annual_report
SwissLifeHoldingAG-AR_2017
366
Bond Manager, he was appointed Head of Fixed Income at Winterthur Group in 2001.
14
annual_report
2115
563
The following table summarizes our contractual obligations as of December 31, 2003, in thousands:
14
10K
LloydsBankingGroupPLC-AR_2010
3,513
Succession planning This is a key aspect of our overall review of Board composition and is explained fully in Succession Planning below.
22
annual_report
nl_ing_grp-AR_2019
822
Underlying income fell 5.1 percent to €4,505 million from €4,747 million previous year. The interest result was 5.5 percent lower, reflecting margin pressure on savings and current accounts due to lower reinvestment yields and lower revenues from Treasury. This was partly compensated by improved margins on mortgages. Net core lending (excluding the WUB run-off portfolio and
56
annual_report
Sampoplc-AR_2001
1,326
If only a part is occupied for the Group’s activities, the classification is made in relation to the square metres occupied.
21
annual_report
NatixisSA-AR_2016
10,378
As part of the Mauve scheme, beneficiaries are able to subscribe for Natixis shares (or, for international beneficiaries, under an economically similar formula) on advantageous terms and benefiting from employer-paid contributions in compliance with the provisions of existing plans within the Natixis group.
43
annual_report
5507
606
The accompanying Consolidated Financial Statements have been prepared in conformity with GAAP. Intercompany amounts have been eliminated. The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.
78
10K
NatwestGroupPLC-AR_2009
953
During the life of the APS, certain or all of the Covered Assets may cease to be protected due to a failure to comply with continuing obligations under the APS, reducing the benefit of the APS to the Group. The Group is subject to limitations on actions it can take in respect of the Covered Assets and certain related assets and to extensive continuing obligations under the Scheme Conditions relating to governance, asset management, audit and reporting. The Group’s compliance with the Scheme Conditions is dependent on its ability to (i) implement efficiently and accurately new approval processes and reporting, governance and management systems in accordance with the Scheme Conditions and (ii) comply with applicable laws and regulations where it does business. The Group has complex and geographically diverse operations, and operational risk in the context of the APS may result from errors by employees or third-parties, failure to document transactions or procedures properly or to obtain proper authorisations in accordance with the Scheme Conditions, equipment failures or the inadequacy or failure of systems and controls. Although the Group has devoted substantial financial and operational resources, and intends to devote further substantial resources, to developing
195
annual_report
2281
1,956
Certain amounts in prior years' consolidated financial statements have been reclassified to conform to the 2003 presentation.
17
10K
4911
2,320
• Client behavioral risk including surrender/lapse risk - there are many assumptions made when products are sold including how long the contracts will persist. Actual experience can vary significantly from these assumptions. This risk is
35
10K