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NatwestGroupPLC-AR_2010
3,079
During the year, as well as advice received from Towers Watson and PwC, the Committee took account of the views of the Group Chairman, Philip Hampton; Group Chief Executive, Stephen Hester; Group Human Resources Directors, Neil Roden (until October 2010) and Elaine Arden (from October 2010); the Group General Counsel a...
123
annual_report
4430
1,505
Ceded reinsurance arrangements do not relieve TRH from its obligations to the insurers and reinsurers from whom it assumes business. The failure of retrocessionnaires to honor their obligations could result in losses to TRH; consequently, an allowance has been established for estimated unrecoverable reinsurance on paid...
127
10K
TrygAS-AR_2012
118
Sales to and the servicing of private customers in Denmark are handled via call centres and the Internet, via Tryg’s own agents, group agreements, car dealers, estate agents and Nordea’s branches.
31
annual_report
StandardLifeAberdeenPLC-AR_2013
2,814
3. Financial information – Notes to the Group financial statements continued 42. Fair value of assets and liabilities continued (d) Methods and assumptions used to determine fair value of assets and liabilities continued (d)(i) Fair value hierarchy for assets measured at fair value in the statement of financial positio...
67
annual_report
4032
1,962
As of December 31, 2009, the amount included in derivative assets and VIE debt related to the consolidation of NIMS trusts was $11.0 million and $288.0 million, respectively. As of December 31, 2008, the amount included in derivative assets and VIE debt related to the consolidation of NIMS trusts was $4.1 million and $...
106
10K
SwissReAG-AR_2003
1,064
Property & Casualty Business Group results CHF millions 2002 2003 Change in %
13
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2020
611
When developing algorithms for this purpose using artificial intelligence, any unfair disadvantaging of policyholders must be avoided. This may result from premium increases or the denial of insurance cover – for example, if algorithms are based on nationality or ethnic background. Compliance with data protection law m...
58
annual_report
GjensidigeForsikringASA-AR_2012
2,007
Subsidiaries Byggeriet Forsikringsservice A/S Copenhagen, Denmark 100.0 % Gjensidiges Arbejdsskadeforsikring A/S Copenhagen, Denmark 100.0 % Gjensidige Baltic AAS Riga, Latvia 100.0 % Gjensidige Bank Holding AS Oslo, Norway 100.0 % Gjensidige Norge AS Oslo, Norway 100.0 % Gjensidige Pensjon og Sparing Holding AS Oslo, ...
99
annual_report
3713
1,023
Net realized capital gains (losses) are comprised of the difference between the amortized cost of investments and proceeds from sale and redemption, as well as losses incurred due to other-than-temporary impairment of investments and changes in fair value of derivatives. The cost of the investments on disposal is deter...
75
10K
2760
1,196
The carrying values and fair values of certain of the Company’s financial instruments as of December 31 were as follows:
20
10K
nl_ing_grp-AR_2013
187
REVIEWS OF ING’S SUSTAINABILITY PERFORMANCE ING Group’s approach to sustainability is shaped by our specific skills and expertise as a financial company, our vision of the future and the expectations of our stakeholders. Reviews of our performance by sustainability research and rating agencies help us to improve our st...
85
annual_report
LloydsBankingGroupPLC-AR_2020
912
The Group places great importance on making sure shareholders are effectively briefed on strategic and financial progress, in addition to considering their valued feedback. Comprehensive disclosure is provided with results and, given the increasing focus of investors on ESG matters, we now issue a specific ESG-focused ...
53
annual_report
ScorSE-AR_2014
3,386
The experience and competences of the Directors are highly diverse. In addition to the Chairman of the Board, six of the Directors listed work or have worked at an executive level within the insurance industry and three Directors within in the financial and banking industry. The main activity of three of them is to be ...
78
annual_report
fr_axa-AR_2013
6,124
AXA the ability to redeem on certain dates the principal amount before settlement and without penalty, and; ■ interest rate step-up clauses with effect from a given date.
28
annual_report
SwissReAG-AR_1917
20
Fire, Liability, Accident, Burglary, Fidelity, Surety and Marine Dept?! Premium Reserve . . . . . .... . . .. ,. Frs. 27,844,944.-
23
annual_report
StandardLifeAberdeenPLC-AR_2016
290
Key activities  Completed the acquisition of Elevate, making us one of the UK’s largest and fastest growing adviser platform businesses
21
annual_report
5371
2,475
See Note A - “Accounting Policies - Debt Issuance Costs” to the financial statements for a discussion of accounting guidance adopted on January 1, 2016, which impacted the presentation of debt issuance costs.
33
10K
AdmiralGroupPLC-AR_2013
1,291
3. Our Application of Materiality and an Overview of the Scope of our Audit The materiality for the Group financial statements as a whole was set at £18.5 million. This has been determined with reference to a benchmark of Group profit before taxation (of which it represents 5%) which we consider to be one of the princi...
70
annual_report
4921
2,984
In 2014, four quarterly dividends of $0.16 per share were paid to all ordinary shareholders of record at March 14, June 13, September 15 and December 15. In 2013, four quarterly dividends of $0.14 per share were paid to all ordinary shareholders of record at March 15, June 14, September 13 and December 13. In 2012, fou...
81
10K
NNGroupNV-AR_2017
1,483
– NN (L) Euro Sustainable Credit (excluding Financials) 679 587 471
11
annual_report
INGGroepNV-AR_2020
2,843
The Supervisory Board is convinced that with its new, diverse composition of the executive top team,
16
annual_report
gb_prudential-AR_2010
5,173
Fixed Annuity business (including the proportion of variable annuity business invested in the general account):note i
16
annual_report
2197
1,033
Interest expense on non-recourse collateralized obligations decreased $11.8 million, or 28%, in 2002 compared to 2001, primarily due to reduced interest income received (discussed above) resulting in lower distributions to investment holders.
32
10K
BeazleyPLC-AR_2018
315
These rate rises have made for a healthier pricing environment after several years of price erosion. We wrote 14% more business in 2018 than the previous year.
27
annual_report
4313
1,198
Under the PRC Law, the Company’s subsidiary and VIE in the PRC are required to make appropriation to the statutory reserve based on after-tax net earnings and determined in accordance with generally accepted accounting principles of the People’s Republic of China (the “PRC GAAP”). Appropriation to the statutory reserve...
96
10K
5600
1,814
The adoption of this guidance is not expected to have a significant impact on the Company’s financial position, results of operations or disclosures.
23
10K
RSAInsuranceGroupPLC-AR_2013
817
Stephen Hester, Richard Houghton and Adrian Brown, Executive Directors of the Company, do not hold outside directorships of FTSE100 (or any other listed) companies but would be allowed to have one such appointment, subject to the approval of the Group Nomination Committee.
42
annual_report
3630
1,233
London market account - The 2008 hurricanes increased losses by $12.1 million and increased the 2008 loss ratio by 11.3 percentage points. There was also $21.4 million of redundant reserve development in 2008, mostly from our property and energy businesses, which included a $5.4 million reduction of the 2005 hurricane ...
107
10K
5525
466
The following table sets forth the amortized cost and fair value of available-for-sale fixed maturities by contractual maturity at December 31, 2018:
22
10K
SwissReAG-AR_1936
22
Foreign Currencies in the Profit and Loss Account and the Balance Sheet have been converted at the average rates of exchange for December 1936, with the exception of certain currencies, for which we have considered it advisable to use lower rates in view of existing transfer difficulties.
47
annual_report
5809
1,012
•Reduce the difference between interest credited to policyholders and interest earned on supporting assets (“gross margin”);
16
10K
gb_prudential-AR_2012
314
‘ Prudential’s strategy in Asia is well established and continues to be highly eff ective. We are focused on building high-quality, multi-channel distribution that provides customers with access to products that are appropriate for their fi nancial planning needs. Typically this involves a high proportion of regular pr...
54
annual_report
2156
425
Ceded premiums at Association Casualty increased $0.5 million, or 12.8%, during 2002. As Association Casualty continued its diversification into commercial lines other than workers’ compensation, ceded premiums increased significantly due to the higher reinsurance costs associated with these new lines of business.
42
10K
StorebrandASA-AR_2016
483
Interest rates continued to fall in Sweden during 2016, while in Norway, interest rates were at about the same level as at the start of the year.
27
annual_report
4400
866
Our portfolio is primarily composed of taxable publicly-traded fixed income securities as well as tax-preferred state and municipal securities. Our taxable publicly-traded fixed income securities primarily include corporate debt obligations, asset-backed securities, commercial mortgage-backed securities, and residentia...
39
10K
4543
1,909
ABS include mostly investment-grade debt securities backed by pools of loans with a variety of underlying collateral, including automobile loan receivables, student loans, credit card receivables, and CLO Debt originated by a variety of financial institutions. The fair values of ABS are priced through the use of a mode...
135
10K
LloydsBankingGroupPLC-AR_2010
614
One of the key reforms impacting the Group arises from a revised treatment of the capital held within our insurance subsidiaries. During 2010, following a strategic review of our capital structure, £0.8 billion of equity was exchanged for subordinated debt within the insurance group and £1.5 billion was repatriated fro...
86
annual_report
3999
954
The following table summarizes for fixed income securities in an unrealized loss position at December 31, 2009 and 2008, the aggregate fair value and gross unrealized loss by length of time those securities have been continuously in an unrealized loss position (dollars in thousands):
44
10K
4356
1,989
Corporate-Corporate securities consist primarily of bonds issued by U.S. and foreign corporations covering a variety of industries and issuing countries. These securities are generally priced by independent pricing services and brokers. The pricing provider incorporates information including credit spreads, interest ra...
82
10K
4198
765
In 2009, the commercial segment’s loss ratio increased to 56.8%. The loss ratio in 2009 was negatively affected by increased losses in commercial multi-peril, increased reinsurance costs resulting in lower net premiums earned for the commercial segment and increased incurred losses in the workers compensation line. The...
81
10K
2090
714
The following tables set forth the Plan’s funded status and amounts recognized in the Company’s consolidated financial statements as of December 31, 2002 and 2001.
25
10K
2418
559
Future policy benefits and claims also include reserves for incurred but unreported health claims. We recognize claims costs in the period the service was provided to our members. However, claims costs incurred in a particular period are not known with certainty until after we receive, process and pay the claims. We de...
143
10K
ASRNederlandNV-AR_2014
1,771
Debt related to cash collateral on derivatives instruments is included in the amount due to banks (chapter 6.21).
18
annual_report
4095
2,165
The super senior structure was introduced to the U.S. commercial mortgage-backed securities market in late 2004 and was modified in early 2005 to increase subordination from 20% to 30%. With the changes to the commercial mortgage-backed securities structure in 2005, there became three distinct AAA classes for commercia...
196
10K
4426
526
Net Premiums Written. Net premiums written totaled $240.2 million in 2010 compared to $262.8 million in 2009, representing a decrease of $22.6 million, or 8.6%. The decrease was primarily attributable to the decrease in gross written premiums, offset in part by a $3.1 million decrease in premiums ceded primarily result...
177
10K
LloydsBankingGroupPLC-AR_2019
2,209
Conclusion: The Group continues to place significant focus on implementing complex regulatory changes, as well as ensuring effective horizon scanning of upcoming trends. The Committee has discussed the topics raised, and will continue to closely monitor compliance with regulatory requirements, including ring-fencing in...
58
annual_report
AvivaPLC-AR_2019
2,653
Strategic report Governance IFRS financial statements Other information 7 – Details of expenses This note gives further detail on the items appearing in the expenses section of the income statement.
30
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2004
1,667
If pension obligations are covered by assets held by a legally separate entity (e.g. a fund or a contractual trust agreement in the form of a two-way trust) – assets that may only be used to cover the pension commitments given and are not accessible to creditors – the pension obligations are shown less the amount of th...
82
annual_report
AegonNV-AR_2010
404
As the recent financial crisis underlined, we need to maintain a substantial capital buffer to ensure that
17
annual_report
5486
1,481
Insurance claims and policyholders’ benefits reported on the Consolidated Statements of Income are net of reinsurance recoveries of $3.1 billion, $3.0 billion and $2.6 billion for the years ended December 31, 2017, 2016 and 2015, including $2.5 billion, $2.6 billion and $2.3 billion related to the significant third par...
53
10K
2966
515
On January 31, 2007, MMC entered into a stock purchase agreement with Great-West Lifeco Inc. (“GWL”), a majority-owned subsidiary of Power Financial Corporation, pursuant to which GWL will purchase Putnam Investments Trust. The sale includes Putnam’s interest in the T.H. Lee private equity business. The after-tax cash ...
184
10K
de_allianz-AR_2013
2,374
1 In % of net reserves as of 31 December 2012.
11
annual_report
3964
829
(1) Net statutory reserves include an adjustment for reinsurance recoverables on paid loss and loss adjustment expenses. On a statutory basis reinsurance recoverables on paid loss and loss adjustment expenses are not included as a reduction of reserves but are recorded as a statutory asset.
45
10K
3631
1,494
Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations. Callable bonds represented 2.43%, or $126.2 million, of our investment securities at December 31, 2008.
33
10K
gb_prudential-AR_2007
1,072
The Committee Chairman reported to the Board on matters of particular significance after each Committee meeting, and the minutes of Committee meetings were circulated to all Board members.
28
annual_report
1888
614
The Company currently follows the general practice of reinsuring that portion of risk on the life of any individual which is in excess of $40,000 for individual policies (under yearly renewable term and coinsurance agreements) and $15,000 for group policies (under a group yearly renewable term agreement). Graded death ...
142
10K
3575
1,724
Due to the inherent uncertainties in estimating claim and claim adjustment expense reserves for A&E and due to the significant uncertainties described related to A&E claims, CNA’s ultimate liability for these cases, both individually and in aggregate, may exceed the recorded reserves. Any such potential additional liab...
119
10K
530
132
Net investment and other income increased by $1,036 thousand. Net investment income increased by $9,298 thousand to $68,876 thousand in 1995 from $59,887 thousand in 1994. This increase is attributable to an 11.5% increase in general investment account assets and policy loans and an increase in the portfolio yield from...
103
10K
AegonNV-AR_2016
1,901
<100% SCR Regulatory plan <100% SCR <100% RBC Suspension of dividends. Regulatory plan required.
14
annual_report
PosteItalianeSpA-AR_2018
4,581
Net revenue from ordinary activities 8,211 966 6,095 1,472 (5,880) 10,864
11
annual_report
1756
732
The difference between income taxes provided at the Company's federal statutory rate and effective tax rate is as follows:
19
10K
nl_ing_grp-AR_2016
51
Common equity Tier 1 ratio fully loaded ING Group > Prevailing fully-loaded requirements 14.2% 12.7% 10.5% Common equity Tier 1 ratio fully loaded ING Bank 12.6% 11.6% 11.4% Leverage ratio ING Group 1 >4% 4.8% 4.4% Leverage ratio ING Bank 1 4.2% 4.1% 3.6% Underlying cost/income ratio 50-52% 54.2% 55.9% 58.7% Underlying...
84
annual_report
5582
1,689
The ability of the Company to make debt principal and interest payments depends on the earnings and surplus of subsidiaries, investment earnings on undeployed capital proceeds, and the Company’s ability to raise additional funds. Future principal payments due on long-term debt, excluding discounts, as of December 31, 2...
54
10K
PosteItalianeSpA-AR_2018
1,557
As evidence of the Group’s ongoing commitment on the protection of human rights and the enhancement of diversity, in 2018 Poste Italiane signed a Memorandum of Understanding with the Ministry of Equal Opportunities, aimed at promoting the cooperation between the two parties to carry out more effective and common commun...
156
annual_report
5893
275
valuation of reserves for long term care policies, including controls over management’s development of the current best estimate assumptions. These procedures also included, among others, evaluating and testing management’s process for developing the estimate of the long term care reserves, testing the completeness and...
117
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2012
129
The risks that we cover differ greatly in nature. Their partial non­correlation in terms of potential loss occurrence enables us to balance the risks over time, across regions and across fields of business – a diversification benefit that is key for our success. The size and mix of our risk portfolio mean we can cover ...
63
annual_report
4172
999
Cost reduction activity for 2008, 2009 and 2010 was as follows:
11
10K
3551
641
In August 2006, our unsecured four-year term loan matured and the balance was paid off.
15
10K
3602
1,108
The increase in variable annuity benefit expense is due to increased accruals for variable annuity liabilities resulting from the higher asset-based policy charge revenue.
24
10K
5520
1,053
From time to time, assessments are levied on our insurance subsidiaries by life and health guaranty associations in most states in which the subsidiaries are licensed. These assessments, which are accrued for, are to cover losses of policyholders of insolvent or rehabilitated companies. In some states, these assessment...
80
10K
StorebrandASA-AR_2010
1,784
in 2010, the return on the cash portion of the bonus bank was 3.04 per cent and the return on the share portion of the bonus bank was 10.3 per cent.
31
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2014
3,227
Münchener Rückversicherungs-Gesellschaft (Munich Reinsurance Company) is a reinsurance company organised under the laws of Germany. In some countries, including in the United States, Munich Reinsurance Company holds the status of an unauthorised reinsurer. Policies are underwritten by Munich Reinsurance Company or its ...
55
annual_report
1756
288
The HyperFeed warrants are carried in our financial statements at estimated fair value. Following the adoption of Statement of Financial Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging Activities", the change in estimated fair value of warrants during an accounting period is recorded in...
64
10K
PhoenixGroupHoldingsPLC-AR_2019
2,338
To obtain sufficient audit evidence to conclude on core actuarial modelling systems and balances calculated outside these systems, using EY actuaries we performed the following procedures: • obtained an understanding of management’s process for model developments to the core actuarial system and tested the design, impl...
128
annual_report
3425
1,385
CNA’s investment portfolio is subject to market declines below book value that may be other-than-temporary. CNA has an Impairment Committee, which reviews the investment portfolio on a quarterly basis, with ongoing analysis as new information becomes available. Any decline that is determined to be other-than-temporary ...
89
10K
DirectLineInsuranceGroupPLC-AR_2018
310
A im We aim to achieve at least a 15% RoTE per annum over the long term.
17
annual_report
4583
906
During 2012, 2011, and 2010, the Company recognized no adjustments to additional paid-in capital for differences between deductions taken on its income tax returns related to stock-based compensation plans and the related income tax benefits previously recognized for financial reporting purposes.
41
10K
NatixisSA-AR_2005
1,619
Cash, central banks, post offices (assets & liabilities) (193) 170 Interbank balances (6,315) (4,906)
14
annual_report
4175
2,069
At February 16, 2010, we had $606.1 million of letters of credit with effective dates on or before December 31, 2010 outstanding under the Reimbursement Agreement.
26
10K
5412
1,199
Other investments may include alternative investments and other securities. Alternative investments are accounted for using the equity method. Our share of distributed and undistributed net income from alternative investments is included in "Net investment income earned" on our Consolidated Statements of Income. Other ...
180
10K
2379
1,007
CNA is vigorously defending these and other cases and believes that it has meritorious defenses to the claims asserted. However, there are numerous factual and legal issues to be resolved in connection with these claims, and it is extremely difficult to predict the outcome or ultimate financial exposure represented by ...
84
10K
NatwestGroupPLC-AR_2009
2,432
Credit quality of loans The table below analyses the credit quality of the Group’s credit risk assets by risk bands and the proportion relating to assets in the Scheme.
29
annual_report
fr_axa-AR_2010
1,413
Net realized capital gains or losses attributable to shareholders 437 (386)
11
annual_report
PowszechnyZakladUbezpieczenSA-AR_2017
488
Warsaw offers two insurance options, namely a recommended option and a flexible option enabling the client to tailor the product to his or her specific needs; • in Q4 2017, enriching the residential insurance offering with smoke detectors proposed for each policy with a premium greater than PLN 210.
49
annual_report
5531
889
In 2016, MetLife announced its plan to pursue the separation of a substantial portion of its former U.S. retail business (the “Separation”.) Until the completion of the Separation on August 4, 2017, BHF was a wholly-owned subsidiary of MetLife, Inc. MetLife, Inc. undertook several actions, including an internal reorgan...
149
10K
4545
1,325
Centene and its subsidiaries lease office facilities and various equipment under non-cancelable operating leases which may contain escalation provisions. The rental expense related to these leases is recorded on a straight-line basis over the lease term, including rent holidays. Tenant improvement allowances are record...
91
10K
2945
1,301
The Company participates in securities lending programs whereby marketable securities in its investment portfolio are transferred to independent brokers or dealers based on, among other things, their creditworthiness in exchange for collateral initially equal to at least 102% of the value of the securities on loan and ...
214
10K
gb_lloyds_banking_grp-AR_2019
4,109
The FPC regularly considers the adequacy of the UK CCYB rate in light of the evolution of the overall risk environment. As at 31 December 2019 non-zero buffer rates also currently apply for Bulgaria, the Czech Republic, Denmark, France, Hong Kong, Iceland, Ireland, Lithuania, Norway, Slovakia and Sweden. During 2020 Be...
88
annual_report
5431
995
The NAIC has established minimum capital requirements in the form of RBC. RBC considers the type of business written by an insurance company, the quality of its assets, and various other aspects of an insurance company's business to develop a minimum level of capital called "Authorized Control Level Risk-based Capital"...
101
10K
2930
1,794
Premiums are included in insurance revenues in the Consolidated Statements of Income. Premiums for traditional life insurance products are reported as revenue when due. Traditional insurance products include whole life, term life, immediate annuities and supplementary contracts with life contingencies.
40
10K
934
397
Mid Ocean had obtained multi-currency committed lines of credit provided by a syndicate of nine major international banks led by Chase Manhattan Bank, N.A. which provides for unsecured borrowing up to an aggregate amount of $200 million subject to certain conditions. The Mid Ocean facility is split evenly between a 364...
117
10K
AegonNV-AR_2011
3,102
Changes in revaluation reserve real estate held for own use – – 3 – – – 3 – 3
19
annual_report
5278
858
Income before income taxes increased by $8.3 million, or 7.8%, and $15.1 million, or 16.6%, in 2016 and 2015, respectively. The increase in income before income taxes in 2016 was primarily driven by improved mortality experience in Asia. Unfavorable individual disability claims experience in Australia partially offset ...
99
10K
SwissLifeHoldingAG-AR_2013
2,144
Swiss Life – Annual Report 2013 24 Income Taxes income tax expense
12
annual_report
5151
671
Our combined ratio on a gross basis decreased from 81.6% for the year ended December 31, 2013 to 79.4% for the year ended December 31, 2014. Our combined ratio on a net basis decreased from 72.9% for the year ended December 31, 2013 to 71.4% for the year ended December 31, 2014. The changes in our combined ratio, on bo...
82
10K
INGGroepNV-AR_2005
1,013
OFFSETTING OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES Financial assets and financial liabilities are offset and the net amount reported in the balance sheet when the Group has a legally enforceable right to set off the recognised amounts and intends to either settle on a net basis or to realise the asset and settle ...
56
annual_report
INGGroepNV-AR_2020
1,080
In 2020, we introduced a global Code of Conduct, which outlines the 10 core principles we expect from employees. These principles build on the values and behaviours of our Orange Code and are based on
35
annual_report
5340
5,368
The Property Casualty Insurance Companies invest primarily in fixed maturity securities issued by corporations, municipalities and other governmental agencies and also invest in structured securities collateralized by, among other assets, residential and commercial real estate and commercial mortgage loans. While inves...
164
10K
5636
1,532
In August 2017, in connection with the Convertible Note issuance the Company repurchased 3,552,397 shares of its common stock at a price of $11.26 per share from institutional investors for $40.0 million in a series of open market transactions.
39
10K
Sampoplc-AR_2016
3,221
The following tables contain a number of material assumptions, specifications of pension costs, assets and liabilities and a sensitivity analysis showing the potential effect on the obligations of reasonable changes in those assumptions as at the end of the fiscal year. As apparent from the tables, the said amendments ...
80
annual_report