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gb_prudential-AR_2006
1,421
As a provider of financial services, including insurance, the Group’s business is the managed acceptance of risk. Prudential believes that effective risk management capabilities are a key competitive advantage and a strategic risk, capital and value management framework and risk management culture has been developed to...
53
annual_report
4700
281
For the year ended April 30, 2013, the Company reported a net loss of $34,943 and has reported an accumulated deficit of $4,260,646 as of April 30, 2013.
28
10K
4770
1,964
Vesting of awards granted to non-executive officers in 2012 is subject to the same terms as the executive officer awards, except that the non-executive officer awards are not subject to the 2012 Relative TSR Measure.
35
10K
nl_ing_grp-AR_2012
5,616
REINSURANCE The practice whereby one party, called the reinsurer, in consideration for a premium paid to him, agrees to indemnify another party, called the reinsured or ceding company, for part or all of the liability assumed by the reinsured under a contract or contracts of insurance which the reinsured has issued. Th...
72
annual_report
1720
738
The Company's real estate and real estate joint venture investments consist of commercial and agricultural properties located throughout the U.S. and Canada. The Company manages these investments through a network of regional offices overseen by its investment department. At December 31, 2001 and 2000, the carrying val...
66
10K
INGGroepNV-AR_2016
1,280
Important dates in 2017 1 2017 Annual General Meeting 8 May 2017 Ex-date for final dividend 2016 (Euronext Amsterdam)
19
annual_report
2464
1,225
The Company elected to set the discount rate assumption at the measurement date for the Scheme to reflect the yield of a portfolio of high quality fixed income debt instruments matched against the timing and amounts of projected future benefits. The discount rate assumptions were 5.30 percent and 5.50 percent as of Dec...
58
10K
5035
434
Year Ended December 31, 2015 compared to Year Ended December 31, 2014
12
10K
nl_ing_grp-AR_2012
1,161
TRANSACTIONS INVOLVING ACTUAL OR POTENTIAL CONFLICTS OF INTEREST In accordance with the Corporate Governance Code, transactions with members of the Supervisory Board in which there are significant conflicting interests will be disclosed in the Annual Report. In deviation of the Corporate Governance Code however, this d...
88
annual_report
NatwestGroupPLC-AR_2017
5,459
Finland Koy Espoon Entresse II BF FC c/o Nordisk Renting OY, Eteläesplanadi 12, Box 14044, FI-00130, Helsinki
17
annual_report
5632
625
Interest income represents income earned on operating cash balances and other income-producing investments. It does not include interest earned on funds held on behalf of clients. Interest income was $27 million in 2017, an increase of $18 million, or 200%, from 2016, due primarily to additional income earned on the ba...
58
10K
4422
1,262
Net losses and LAE increased by $92.9 million in the year ended December 31, 2010 as compared with the year ended December 31, 2009, primarily due to the increase in losses arising from major catastrophes in 2010. Net losses and LAE arising from major catastrophes were $232.4 million and $42.6 million for the years end...
281
10K
AegonNV-AR_2018
1,677
Code of Conduct Aegon’s Code of Conduct embodies the company’s values and helps ensure that all employees act ethically and responsibly.
21
annual_report
gb_prudential-AR_2011
4,355
Deficit recognised in the statement of financial position (229) (447) (437) (306) (355)
13
annual_report
4529
28,250
Authorized Control Level - results when Total Adjusted Capital falls below 50% of Company Action Level RBC as defined by the NAIC where in addition to the above, the insurance regulators are permitted but not required to place the Company under regulatory control; and
44
10K
374
1,116
In 1995, the Company formed Health Care-One, which markets insurance products for non-affiliated insurance carriers. The Company owns 50% of Health Care-One. The Company is providing financing to Health Care-One during the start-up phase of operations. Health Care-One's revenue and expenses were $4,365,000 and $4,121,0...
128
10K
1377
758
The following table sets forth revenue (in thousands) by product group for the years ended December 31, 1999, 1998, and 1997:
21
10K
Sampoplc-AR_2014
1,036
The Actuarial Committee (AC) is a preparatory and advisory body for If P&C’s Chief Actuary. The committee shall secure a comprehensive view over reserve risk, discuss and give recommendations on policies and guidelines for calculation of technical provisions, as well as consider and propose changes to the Risk Data Pol...
50
annual_report
3095
823
The Company is taxed at regular corporate rates after adjusting income reported for financial statement purposes for certain items. Deferred income tax expenses/benefits result from changes during the year in cumulative temporary differences between the tax basis and book basis of assets and liabilities.
44
10K
gb_lloyds_banking_grp-AR_2008
1,099
Lloyds Banking Group Annual Report and Accounts 2008 risk as a strategiC differentiator
13
annual_report
fr_axa-AR_2009
9,228
An audit involves performing procedures, on a test basis or by selection, to obtain audit evidence about the amounts and disclosures in the consolidated fi nancial statements. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by managem...
81
annual_report
3759
819
As of December 31, 2008, we had cash and cash equivalents of $176 million, compared with $200 million at December 31, 2007, and all of
25
10K
5098
1,625
The impairment charges of our fixed-maturities and equity securities for the years ended December 31, 2015, 2014 and 2013 are presented in the table below:
25
10K
Sampoplc-AR_2008
552
| Quantification of Credit Risks ............................. 65 8 Liquidity Risks ....................................................68
11
annual_report
AegonNV-AR_2018
1,898
States was estimated to be 465% (2017: 472%) of the CAL
11
annual_report
de_allianz-AR_2009
2,213
Share of other comprehensive income of associates Reclassifications to net income 6 — — Changes arising during the year 26 (107) 112
22
annual_report
RSAInsuranceGroupPLC-AR_2017
3,893
Amortisation of intangible assets (15) (15) (15) Pension net interest and administration costs (7) (7) (7)
16
annual_report
5193
1,575
The Company previously placed MCC into voluntary run-off in early 2011. At the time it was placed into voluntary run-off, MCC's RBC was 160%. MCC entered into a comprehensive run-off plan approved by the Illinois Department of Insurance in June 2011. MCC remains in compliance with that plan. As of December 31, 2016, MC...
57
10K
de_allianz-AR_2003
2,798
mn and Allianz Finance II B. V. ¤171(2002: 80; 2001: 0) mn.
12
annual_report
3430
1,066
Interest Paid, including facility fees, for the years ended December 31, 2007, 2006 and 2005, was:
16
10K
3021
2,841
Other invested assets: Consisting principally of hedge funds and limited partnerships. Fair values are determined based on the net asset values provided by the general partner or manager of each investment.
31
10K
fr_axa-AR_2015
7,777
These 50 AXA Miles shares granted in 2012 will vest upon completion of a two or four year vesting period (i.e. in 2014 or 2016) depending on applicable local regulations, and subject to fulfi lment of certain conditions.
38
annual_report
nl_ing_grp-AR_2015
510
Regulation and the operating environment New European Union (EU) legislation will have an impact on the retail banking operating environment in European countries where we are active. Proposals for additional regulation following on Basel III/CRD IV will likely impact capital requirements and therefore lending levels. ...
100
annual_report
4315
1,000
Workers’ compensation results were profitable in 2010 and 2009 compared with highly profitable results in 2008. Results in these years benefited from our disciplined risk selection during the past several years. Results in 2010 and 2009 were less profitable than the respective prior year due in part to the cumulative e...
77
10K
2689
403
The Company monitors its investments closely. If an unrealized loss is determined to be other than temporary it is written off as a realized loss through the Consolidated Statements of Operations. The Company's methodology of
35
10K
2587
1,165
The following table summarizes White Mountains Re's premium estimates and related commissions and expenses:
14
10K
342
187
CLAIM AND CLAIM SETTLEMENT EXPENSES. Claim and claim settlement expenses increased to $39.1 million in 1996 from $28.1 million in 1995. As a percentage of premiums earned, claim and claim settlement expenses increased to 62.0% in 1996 from 61.8% in 1995. These changes are due to the following:
48
10K
4836
712
The loss and settlement expense ratio for the reinsurance segment decreased to 68.3 percent in 2012 from 96.6 percent in 2011. This decrease was primarily attributed to the rate level increases previously noted and a decline in catastrophe and storm losses. While less than 2011, catastrophe and storm losses were well a...
254
10K
nl_ing_grp-AR_2010
1,404
FAIR VALUES OF REAL ESTATE Real estate investments are reported at fair value; all changes in fair value are recognised directly in the profit and loss account. The fair value of real estate investments is based on regular appraisals by independent qualified valuers. The fair values represent the estimated amount for w...
153
annual_report
LloydsBankingGroupPLC-AR_2010
4,076
The disclosures in columns (a) to (d) are as required under section 421 of the Companies Act 2006.
18
annual_report
4471
3,133
The Company has elected the FVO for the long-term debt of CSEs. See “- Valuation Techniques and Inputs by Level Within the Three-Level Fair Value Hierarchy by Major Classes of Assets and Liabilities” below for a discussion of the methods and assumptions used to estimate the fair value of these financial instruments.
52
10K
StandardLifeAberdeenPLC-AR_2009
1,227
During the year, a loan was made to the HWPF by Standard Life plc, repayment of which is contingent on the emergence of recourse cash flows and surplus in the HWPF (‘contingent loan agreement’). A transfer to equity holders was then made to transfer the remaining unallocated surplus to equity holders without equity hol...
154
annual_report
BeazleyPLC-AR_2015
1,740
Notes to the financial statements continued 2 Risk management continued The next two tables summarise the carrying amount at reporting date of financial instruments analysed by maturity date.
28
annual_report
4779
1,224
During the year ended December 31, 2012, income (loss) from continuing operations, net of income tax, decreased $5.1 billion from the year ended December 31, 2011. The change was predominantly due to a $6.7 billion ($4.4 billion, net of income tax), unfavorable change in net derivative gains (losses) primarily driven b...
203
10K
BeazleyPLC-AR_2015
1,761
Reinsurance This segment specialises in writing property catastrophe, property per risk, casualty clash, aggregate excess of loss and pro-rata business.
20
annual_report
NatixisSA-AR_2015
9,046
Following the Company’s dissolution and during its liquidation, these copies or extracts are certifi ed by one or more of the liquidators.
22
annual_report
5722
1,137
Level 2. Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. Level 2 includes those financial instruments that are valued using industry-...
134
10K
4780
736
RGA established an intercompany revolving credit facility where certain subsidiaries can lend to or borrow from each other and from RGA in order to manage capital and liquidity more efficiently. The intercompany revolving credit facility, which is a series of demand loans among RGA and its affiliates, is permitted unde...
110
10K
INGGroepNV-AR_2020
1,915
As per December 2020 ING’s total forborne assets increased by €10.3 billion (108.8%) against
14
annual_report
4747
512
predetermined thresholds. Similarly, in some circumstances, companies that cede business to the Reinsurance Operations are paid profit commissions based on the profitability of the ceded portfolio. These commissions are charged to other underwriting expenses when incurred. The liability for the unpaid portion of these ...
74
10K
4763
1,085
A decline in the property line of business compared to 2012 as the Company reduced participation on a few large contracts where pricing was inadequate. Compared to 2011, net premiums were higher in this line of business as a result of the renewal of new business recorded at the Company’s U.S., Zurich and Singapore offi...
64
10K
NatixisSA-AR_2007
9,608
Caisse d’Epargne enter into exclusive negotiations concerning the creation of Natixis.
11
annual_report
fr_axa-AR_2004
2,185
In 2004, a corporation controlled by an investor group including certain members of the Supervisory Board and the Management Board of the Company engaged AXA Millesimes, a wholly-owned subsidiary of the Company, to manage a nineyard owned by the corporation and provide services related to the vineyard's wine production...
67
annual_report
fr_axa-AR_2004
1,351
Difference in scope of consolidation (67) 260 (217) Goodwill and purchase accounting (839) (777) (1,260) Investment accounting and valuation 2,581 4,456 2,670 Derivatives and hedging activities 156 463 192 Property &Casualty reserves 277 269 260 Deferred acquisition costs and equivalent (236) (249) (127) Employee benef...
52
annual_report
326
550
The amounts included in the foregoing table do not include any amortization of DAC resulting from the sale of new products after December 31, 1996. Any changes in future annual amortization of this asset are not expected to have a significant effect on results of operations because the amount of amortization is expecte...
68
10K
HannoverRueckSE-AR_2018
367
The price increases observed on the primary insurance side in 2017 were sustained throughout 2018. The most striking rate increases were recorded in industrial property business.
26
annual_report
4378
957
The judgments and estimates related to fair value and other-than-temporary impairment may ultimately prove to be inaccurate due to many factors including: circumstances may change over time, industry sector and market factors may differ from expectations and estimates or we may ultimately sell a security we previously ...
55
10K
SwissReAG-AR_2014
2,042
The determination for whether a Group EC member has met the guidelines will include all vested shares that are owned directly or indirectly by the relevant members and related parties.
30
annual_report
AvivaPLC-AR_2008
2,366
Property and equipment held for sale (see (i) below) 102 – Assets of operations classified as held for sale (see (ii) below) 1,448 1,128
24
annual_report
NatwestGroupPLC-AR_2014
9,170
RCR, excluding derivatives, was £14.9 billion at 31December 2014 following significant reductions during 2014. Although the Group to date has successfully reduced the size of the RCR portfolio, the remaining assets in RCR may be difficult to sell and could be subject to further write downs or, when sold, realised losse...
71
annual_report
AegonNV-AR_2000
1,170
The combined ratio is the sum of the ratio of net incurred claims to net premiums earned and the ratio of net commissions and expenses to premiums own account. Although a ratio over 100% suggests a loss, the ratio does not include investment income. With the inclusion of investment income in the calculation, all of AEG...
65
annual_report
2127
9,187
The majority of GAFRI's fixed rate annuity products permit GAFRI to change the crediting rate at any time, subject to minimum interest rate guarantees (as determined by applicable law). Approximately one-half of GAFRI's annuity benefits accumulated relate to policies that have a minimum guarantee of 3%; the
47
10K
4389
1,124
For U.S. earthquake, the regional limits shown are for earthquake ground motion damage only, i.e., excluding limits for contracts that do not specifically cover earthquake damage but may provide coverage for fire following an earthquake event. Contracts which provide coverage for multiple regions are included in the to...
69
10K
PowszechnyZakladUbezpieczenSA-AR_2016
1,532
The revenue of the investments segment constitutes of investment activity conducted with the use of PZU Group’s own funds defined as the surplus of investments over technical provisions in the PZU Group insurance companies seated in Poland (PZU, LINK4, and PZU Życie) increased by the surplus of investment income exceed...
81
annual_report
5657
1,156
We capitalize the incremental costs that directly relate to the successful sale of insurance contracts, subject to ultimate recoverability, and we subsequently amortize such costs to underwriting expenses as the related premiums are earned. Direct incremental acquisition costs include commissions, premium taxes and cer...
94
10K
INGGroepNV-AR_2007
429
On the retail side, ING IM America’s successful ‘Going Global’ campaign continued to attract signifi cant infl ows, with EUR 945 million in 2007. Several new funds expanded the international lineup including ING Asia Pacifi c Real Estate and ING European Real Estate, and two new closed-end funds, the ING Asia Pacifi c ...
95
annual_report
5811
1,154
Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents, investment securities, premium receivables and instruments held through hedging activities. All investment securities are managed by professional investment managers within policies authorized by ou...
115
10K
gb_lloyds_banking_grp-AR_2014
6,013
NOTE 54: FINANCIAL RISK MANAGEMENT (CONTINUED) All reviews performed in the good book, Business Support Unit within Commercial Banking or in the Run‑off division include analysis of latest financial information, a consideration of the market and sector the customer operates in, performance against plan and revised term...
56
annual_report
de_allianz-AR_2014
1,669
Furthermore, we have put in place standards for hedging activities due to exposures to fair value options embedded in life insurance products. Life/Health operating entities carrying these exposures are required to follow these standards, including making a conscious decision on the amount of hedging.1 The hedging of r...
72
annual_report
5695
742
Ambac’s non-VIE debt investment portfolio is accounted for on a trade-date basis and consists primarily of investments in fixed income securities that are considered available-for-sale as defined by the Investments - Debt Securities Topic of the ASC. Available-for-sale debt securities are reported in the financial stat...
230
10K
GjensidigeForsikringASA-AR_2011
2,533
As part of its ongoing financial management, the Company has undertaken to invest up to NOK 746.0 million (705.8) in various private equity and real estate investments, over and above amounts recognised in the balance sheet. Investments in private equity and real estate funds totalled NOK 1,496.6 million (1,303.6) at t...
55
annual_report
HannoverRueckSE-AR_2011
4,966
The Finance and Audit Committee considered inter alia the consolidated annual and quarterly financial statements drawn up in accordance with IFRS and the corresponding individ­
25
annual_report
AegonNV-AR_2017
187
A summary of historical financial data is provided in the table below. It is important to read this summary in conjunction with the consolidated financial statements and related notes (see pages 147-308) of this Annual Report.
36
annual_report
de_allianz-AR_2013
1,930
Change in presentation of discounted loss reserves in the business segment Property-Casualty Effective 1 January 2013, the Allianz Group prospectively changed its presentation of discounted loss reserves in the consolidated balance sheet from the line item “Reserves for loss and loss adjustment expenses” to the line it...
78
annual_report
4534
1,424
An entity is considered the primary beneficiary and is required to consolidate a VIE if its variable interest: (i) gives it the power to most significantly impact the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive residual benefits that could potentially be signifi...
206
10K
nl_ing_grp-AR_2017
694
It has united operational services in two strategic centres in Bratislava and Manila, supporting our ambition to improve and standardise Wholesale Banking. For example, we now offer Financial Markets clients collateral management services from one hub that provides a single unified offering. This consolidation of exper...
114
annual_report
4628
1,062
On January 25, 2010, the Company entered into a definitive purchase agreement with The Westaim Corporation (“Westaim”) to sell all of the issued and outstanding shares of Jevco to Westaim. On March 29, 2010, after receipt of all required regulatory approvals, the sale was completed for a purchase price of C$263.3 milli...
149
10K
NatixisSA-AR_2017
4,489
In order to meet financing requirements for movable assets (involving air, sea or land transportation), real estate, corporate acquisitions (LBO financing) or commodities, Natixis may be required to create structured entities around a specific financial transaction on behalf of a customer.
41
annual_report
NatwestGroupPLC-AR_2007
5,229
If a corporate US Holder is subject to UK corporation tax by reason of carrying on a trade in the UK through a permanent establishment and its ordinary share, non-cumulative dollar preference share or ADS is, or has been, used, held or acquired for the purposes of that permanent establishment, certain provisions introd...
147
annual_report
4367
1,528
Loss development As shown in Note O - “Insurance - Property and Casualty Insurance Reserves,” AFG’s property and casualty operations recorded favorable loss development of $69 million in 2011, $158 million in 2010 and $198 million in 2009 related to prior accident years. Major areas of favorable (adverse) development w...
54
10K
SwissReCorporateSolutions-AR_2018
388
Assets and liabilities Balance as of 1 January 16 16 –76 –76
12
annual_report
5655
1,037
We have established a liability reserve of $10.0 million, net of tax, for probable liabilities and expenses associated with a tax compliance matter as of December 31, 2018 as described in Item 7. "Management's Discussion Analysis of Financial Conditions and Results of Operations", which represents management’s best est...
197
10K
5131
1,906
PartnerRe U.S. may declare dividends subject to it continuing to meet its minimum solvency and capital requirements and is generally limited to paying dividends from earned surplus. The maximum dividend that can be declared and paid without prior approval is limited, together with all dividends declared and paid during...
136
10K
gb_prudential-AR_1999
145
US Operations Jackson National Life (JNL) is one of the top 20 life companies in the US. Its product range encompasses traditional fixed annuities, variable annuities, equity-linked indexed annuities, stable value Guaranteed Investment Contract (GIC) business and life assurance products.
40
annual_report
5700
1,906
The tail factor is typically the most critical assumption, and small changes in the selected tail factor can have a material effect on our carried reserves. For example, the tail factors beyond twenty years for guaranteed cost business could vary by one and one-half percent below to two percent above those actually ind...
96
10K
3290
758
On January 17, 2008, S&P released updated results to its Bond Insurance Stress Test for financial guarantors in light of its revised assumptions for subprime-related exposures. In its report, S&P concluded that the increased stress losses resulting from the revised
40
10K
AvivaPLC-AR_2008
3,613
(f) Undrawn borrowings The Group and Company have the following undrawn committed central borrowing facilities available to it, of which £1,000 million (2007: £1,000 million) is used to support the commercial paper programme: £m
34
annual_report
300
485
Benefits. The following table sets forth the earned premium, benefits, and loss ratios for senior health products:
17
10K
4133
1,334
For statistical reasons, it is not appropriate to add together the ranges of each business segment in an effort to determine the low and high range around the consolidated loss reserves. On a gross basis, the consolidated low estimate is $3,910.8 million and the consolidated high estimate is $5,202.3 million.
50
10K
479
535
in the Insurance Subsidiary's estimate of ultimate losses on reported claims may materially adversely affect the results of the Insurance Subsidiary's operations in the period reported. The Insurance Subsidiary has in the past experienced adverse developments in its loss reserves. The Insurance Subsidiary's loss and lo...
125
10K
PowszechnyZakladUbezpieczenSA-AR_2013
726
Armatura Group and is listed on the Warsaw stock exchange, Giełda Papierów Wartościowych SA. The
15
annual_report
3244
3,230
In connection with OBIG’s initial public offering, FAC established an irrevocable grantor trust. The assets of the trust are solely dedicated to the satisfaction of the payment of dividends and redemption amounts on the $300 million liquidation preference of the Berkshire Preferred Stock. FAC funded the trust with cash...
248
10K
2277
877
Additional paid-in capital 13,569,582 11,280,842 Accumulated other comprehensive income, (loss), and other items (437,973) 1,191,863 Retained earnings 15,414,681 11,992,542 Treasury stock at cost (1,276,518 Class A shares and 75,336 Class C shares in 2003; 1,151,811 Class A shares and 71,749 Class C shares in 2002, hel...
69
10K
2109
657
2002 2001 2000 ------------- ------------- -------------- Tax computed at statutory rate $ 784,906 $ 1,467,257 (247,474) Changes in taxes due to: Cost in excess of net assets purchased 0 31,500 31,500 Current year loss for which no benefit realized 0 0 546,231 Benefit of prior losses (309,710) (159,456) (139,061) Other...
67
10K
3379
1,038
The Company earns its revenue primarily from net premiums written and earned. In 2005, downward pressure on rates across most non-catastrophe exposed lines continued throughout the year although the impact of the 2004 storm season, the backdrop of continued emergence of adverse development related to the market of the ...
68
10K
5913
1,013
Amortized hedge costs/income can fluctuate based upon many factors, including the derivative notional amount, the length of time of the derivative contract, changes in both U.S. and Japan interest rates, and supply and demand for dollar funding. Amortized hedge costs and income have fluctuated in recent periods due to ...
73
10K
5945
1,525
The net unrealized gain in the Corporate bond portfolio increased about $1.92 million from a gain of $2.47 million at the end of 2019 to a gain of $4.39 million at the end of 2020. This sharp increase in unrealized gains was driven by the sharp drop in Treasury rates in 2020 (5 year Treasury rate dropped 133 bps, 10 ye...
93
10K
1628
191
A summary of realized investment gains and losses before income taxes follows:
12
10K
3253
861
There is no substantive difference in the process that we use to determine the best estimate of our loss and LAE reserves for annual financial reports compared to the process we use for interim financial reports.
36
10K
NatixisSA-AR_2003
1,738
Launched in September 2002, immediately after publication of the European regulation, the project is now in its implementation phase, following a pre-assessment phase and a detailed impact analysis phase.
29
annual_report