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gb_lloyds_banking_grp-AR_2016
1,222
EFFECTIVENESS Board induction The Chairman personally ensures that on appointment each Director receives a full, formal and tailored induction. The emphasis is on ensuring the induction brings the business and its issues alive for the new Director, taking account of the specific role they have been appointed to fulfil ...
57
annual_report
AdmiralGroupPLC-AR_2016
2,408
Financial Statements Additional InformationCorporate GovernanceStrategic Report Introduction 137Admiral Group plc · Annual Report and Accounts 2016
16
annual_report
3876
5,043
Investment real estate is depreciated on a straight-line basis over periods ranging from 10 to 60 years.
17
10K
601
1,037
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS SHOULD BE READ IN CONJUNCTION WITH THE CONSOLIDATED FINANCIAL STATEMENTS AND RELATED NOTES BEGINNING ON PAGE.
27
10K
HelvetiaHoldingAG-AR_2008
1,439
(b) Underwriting and reinsurance An insurance policy covering death or disability risk may only be taken out at regular terms and conditions if the insured is in good health. Compliance with this condition is checked during verification of the application. The check is based on the answers to the health questionnaire, ...
63
annual_report
4965
942
Property and equipment as of December 31, 2014 and 2013 is summarized as follows:
14
10K
RaiffeisenBankInternationalAG-AR_2020
4,449
Movement from 12-month ECL to lifetime ECL (11,302,083) 11,302,083 (41,053) 507,686 0.4% 4.5%
13
annual_report
4131
1,413
The following table sets forth the components of net realized investment gains and losses for the year ended December 31, 2009, 2008 and 2007 (in thousands):
26
10K
4279
1,615
Stock Bonus Plan: Aflac U.S. maintains a stock bonus plan for eligible U.S. sales associates. Plan participants receive shares of Aflac Incorporated common stock based on their new annualized premium sales and their first-year persistency of substantially all new insurance policies. The cost of this plan, which is incl...
69
10K
INGGroepNV-AR_2018
1,795
In 2018, there were 7 employees, working in the Corporate Staff, Wholesale Banking and Retail
15
annual_report
1255
531
16) Impact of year 2000 computer hardware, software and microprocessors embedded in certain equipment issues on the Company's operations and potential for year 2000 claims under reinsurance and insurance contracts written by the Company;
34
10K
4444
1,044
The Company maintains a general account investment portfolio comprised primarily of investment grade fixed maturity securities, policy loans, cash and cash equivalents and mortgage loans on real estate.
28
10K
ScorSE-AR_2018
5,322
Developing the expertise, knowledge and career paths is a key condition to ensure employees motivation and wellbeing, and finally the Group performance. In this regard, a whole range of facilities has been implemented to support and assist employees in their professional development. This objective of skills developmen...
59
annual_report
LloydsBankingGroupPLC-AR_2020
4,140
Financial assets at fair value through profit or loss 47 6,245 6,292 — 1,424 — 163,910 165,334 171,626
18
annual_report
5280
469
The Company uses both standard actuarial techniques common to most insurance companies as well as proprietary techniques developed by the Company in consideration of its specialty business products. For its short-tail lines of business, the Company uses predominantly the incurred or paid loss development factor methods...
103
10K
RSAInsuranceGroupPLC-AR_2017
3,953
Comprised of: Volume change including portfolio actions and reinsurance (25) (137)
11
annual_report
de_allianz-AR_2018
1,791
Program and the Commercial Paper Program. Money market securities increased in the use of commercial paper, compared to the previous year-end. Interest expenses on money market securities increased mainly due to higher funding costs on average in 2018.
38
annual_report
nl_ing_grp-AR_2014
5,536
The 2nd line Market Risk Management function is responsible for defining the governance with regard to funding and liquidity management. Next to this, Market Risk Management sets the standards for the funding and liquidity risk approach (identify, assess, control, monitor and report) and determines adequate policies an...
62
annual_report
ScorSE-AR_2012
5,024
Marchés Financiers on 8 March 2011 under number D. 11-0103 and from pages 292 to 320 and from pages 321 to 322, respectively, of the free translation into English of the Registration Document filed with the the Autorités des
39
annual_report
927
261
The Company's investment strategy with respect to CMO's focuses on actively- traded, less volatile issues that produce relatively stable cash flows. The majority of CMO holdings are sequential tranches of federal agency issuers. The CMO portfolio has been constructed with underlying mortgage collateral characteristics ...
60
10K
3246
1,392
In recent periods, management focus has been placed on promoting and growing TPA services to unaffiliated life insurance companies. The Company receives monthly fees based on policy in force counts and certain other activity indicators, such as number of premium collections performed, or services performed. For the yea...
215
10K
5319
1,707
IRS Matter. In addition to the items discussed above, in the event a final judgment or compromised settlement agreement is reached in Radian Group’s ongoing dispute with the IRS related to the Deficiency Amount from the examination of our 2000 through 2007 consolidated federal income tax returns, Radian Group may be re...
225
10K
PhoenixGroupHoldingsPLC-AR_2009
1,769
Deferred annuities Deferred annuity policies are written to provide either a cash benefit at retirement, which the policyholder can use to buy an annuity on the terms then applicable, or an annuity payable from retirement. The policies contain an element of guarantee expressed in the form that the contract is written i...
122
annual_report
4082
1,598
The note receivable represents a non-recourse loan secured by collateral pledged by the counterparty to the note receivable. The fair value of the note receivable is calculated as the most recent appraised value of the underlying collateral pledged against the note receivable.
42
10K
NatixisSA-AR_2014
1,353
2 CORPORATE GOVERNANCE Management and oversight of corporate governance In 2014, the Audit Committee’s duties focused on the following items in particular: Financial position
24
annual_report
Sampoplc-AR_2002
46
In September Sampo became the largest fund management company in Finland.
11
annual_report
INGGroepNV-AR_2016
5,883
Regulation is becoming increasingly more extensive and complex. A recent example is the implementation of the Common Reporting Standard (CRS), which like FATCA requires financial institutions to report detailed client-related information to the competent authorities. Customer due diligence (CDD) and transaction monitor...
66
annual_report
RSAInsuranceGroupPLC-AR_2020
4
As this may be RSA’s last annual report, it is worth reflecting on some of our major achievements over the past 300 years. From humble beginnings under the stewardship of Charles Povey in 1706, the business has grown significantly to be an ever-present member of the FTSE 100 index, providing insurance needs for generat...
86
annual_report
5738
1,626
The Company’s held-to-maturity securities had $86.3 million of gross unrecognized holding losses as of December 31, 2018. The Company does not consider these unrecognized holding losses to be other-than-temporary based on certain positive factors associated with the securities which include credit ratings of the guaran...
64
10K
gb_prudential-AR_2007
2,051
D1: Group overview continued c Guarantees Notes D2(c), D3(c), D4(b) and D4(h) provide details of guarantee features of the Group’s life assurance products. In the UK, guarantees of the with-profits products are valued for accounting purposes on a market consistent basis for 2007 as described in section D2(e)(ii). The U...
134
annual_report
AvivaPLC-AR_2014
4,160
Less: Effect of capitalisation factor on regular premium long-term business (7,314) (6,807) (6,738) Share of long-term new business sales from JVs and
22
annual_report
NatixisSA-AR_2018
2,544
Several specialist projects involved all Internal Audit staff in 2018. These included: follow-up to the 2018 independent review by an externala consultant of the self-assessment of the quality of audits conducted in 2017; improving the quality of audits by implementing most of thea recommendations of the 2017 and 2018 ...
165
annual_report
RSAInsuranceGroupPLC-AR_2015
205
RSA is a valuable company. We can make it much more valuable. We are on a course to do just that.
21
annual_report
3626
1,020
Commission and Fee Income. We recognize commission and fee revenue as a servicing carrier for the Georgia and Virginia assigned risk plans. In addition, we also offer claims adjusting and loss control services for fees to unaffiliated third parties. We also recognize fee income associated with the issuance of workers’ ...
97
10K
INGGroepNV-AR_2008
2,197
The majority of the risks involved in security and currency trading is economically hedged with derivatives. The securities trading results are partly offset by results on these derivatives. The result of these derivatives is included in Derivatives trading results.
39
annual_report
NatixisSA-AR_2003
2,508
NATEXIS PAIEMENTS (formerly BPL) Banking services 100 100 100 100 100 100
12
annual_report
RaiffeisenBankInternationalAG-AR_2018
5,719
The number of ordinary shares of RBI AG which ultimately will be transferred depended on the achievement of two performance criteria: the targeted return on equity (ROE) and the performance of the shares of RBI AG compared to the total shareholder return of the shares of companies in the DJ EURO STOXX Banks index after...
59
annual_report
4523
2,488
•the credit quality of the underlying reinsurer. We record adjustments to reflect the results of the detailed review through an allowance for uncollectable reinsurance. At December 31, 2012, the allowance for estimated unrecoverable reinsurance was $338 million. At December 31, 2012, we had no significant general reins...
158
10K
SwissLifeHoldingAG-AR_2009
357
Member of the Board of Directors – Cellere AG, St. Gallen, Member of the Board of
16
annual_report
3777
1,117
In addition, the Company maintains non-qualified, unfunded deferred compensation plans, which allow certain members of senior management and executives to defer portions of their salary or bonus and receive certain Company contributions on such deferrals, subject to plan limitations. The deferrals are recorded within L...
92
10K
ScorSE-AR_2018
1,359
Aside from the mandatory conditions (1), (2) and (3), if the observed average solvency ratio (condition (4)) is lower than the “Target Solvency Ratio”(1), the options will be exercisable according to the sliding scale set out in the table below: Difference between the average solvency ratio and the “Target Solvency Rat...
51
annual_report
2517
5,148
Income tax expense. Income tax expense for the twelve months ended December 31, 2004 was $68.1 million compared to $54.4 million for the twelve months ended December 31, 2003. Our consolidated tax rate for 2004 was 25.5%, whereas in 2003 it was 26.4%. The tax rate decreased due to a greater proportion of the Company's ...
62
10K
4733
775
The increases in revenues during 2013 were primarily driven by the full year effect of 2012 acquisitions, including Amil, growth in the number of individuals served through benefit products and overall organic growth in each of Optum’s major businesses. The revenue impact of these factors was partially offset by the re...
105
10K
AvivaPLC-AR_2013
2,573
The Southgate Limited Partnership Property management UK 50.00% 50.00% Queensgate Limited Partnership Property management UK 50.00% 50.00% Airport Property Partnership Property management UK 50.00% 50.00% 2-10 Mortimer Street Limited Partnership Property management UK 38.10% 27.30% The Mall Limited Partnership Property...
85
annual_report
157
1,186
The amortized cost and market value of debt securities at December 31, 1995 and 1994, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
46
10K
NatwestGroupPLC-AR_2012
6,495
The financial performance of the Group has been, and continues to be, materially affected by deteriorations in borrower and counterparty credit quality and further deteriorations could arise due to prevailing economic and market conditions and legal and regulatory developments The Group has exposure to many different i...
226
annual_report
2550
814
•On April 28, 2004, AGRO commuted its 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, offset by a $6.8 million realized gain from the asset transfer.
47
10K
SwissLifeHoldingAG-AR_2018
683
Information security is closely related to locally applicable data protection provisions, such as the Swiss Federal Act on Data Protection (DSG) and the European Union’s General Data Protection Regulation (GDPR). More information on data protection is provided in the Compliance chapter of the Corporate Responsibility R...
46
annual_report
TrygAS-AR_2019
839
Provisions before discounting, end of year 626 801 1,110 1,051 1,184 1,394 1,387 1,659 2,230 3,628 7,793 22,863
18
annual_report
fr_axa-AR_2000
2,962
or on quoted market prices of comparable securities. Unrealized investment gains and losses are included in net investment results.
19
annual_report
2188
2,084
The increase in the minimum liability included in “Accumulated other comprehensive income” as of September 30, 2003 and September 30, 2002 is as follows:
24
10K
4238
1,449
the period. Diluted book value per common share is a Non-GAAP financial measure. The most comparable U.S. GAAP financial measure is book value per common share. Diluted book value per common share is calculated based on total shareholders’ equity plus the assumed proceeds from the exercise of outstanding options and wa...
93
10K
GjensidigeForsikringASA-AR_2013
843
The banking operation has established a liquidity portfolio which is continuously measured and reported at fair value. The bank has a goal of having low interest rate risk and plans and manages the interest rate risk so that one aggregates fixed-rate positions on both deposits, loans and placements in a model, and then...
117
annual_report
HannoverRueckSE-AR_2008
430
In the Scandinavian markets we support first and foremost life insurers that focus on unit-linked products and bancassurance models, while in Israel long-term morbidity policies such as long-term care and critical illness dominate.
33
annual_report
gb_lloyds_banking_grp-AR_2011
6,209
Analysis of shareholders At 31 December 2011 Shareholders Number of ordinary shares
12
annual_report
RaiffeisenBankInternationalAG-AR_2011
2,352
The share of not rated financial institutions was 0.2 per cent at year end 2011. This exposure was mainly caused by short-term loans to small banks, where the rating process had not yet been completed.
35
annual_report
2735
1,920
On November 28, 2005, the Partnership’s Blue Springs, Missouri land investment was sold, prior to funding, for $2.3 million, resulting in a realized gain of approximately $0.6 million.
28
10K
4884
1,965
Short-term investments as presented in the tables above differ from the amounts presented on the consolidated balance sheets because certain short-term investments are not measured at estimated fair value on a recurring basis.
33
10K
4047
813
We and our insurance subsidiaries share administrative headquarters with Donegal Mutual in a building in Marietta, Pennsylvania owned by Donegal Mutual. Donegal Mutual charges us and our insurance subsidiaries for an appropriate portion of the building expenses under an inter-company allocation agreement. The Marietta ...
108
10K
PhoenixGroupHoldingsPLC-AR_2017
1,108
Customer highlights – Delivery of a secure environment for the encashment of smaller policies, which allows customers to submit their application online, reducing the overall time taken for them to receive their funds.
33
annual_report
PhoenixGroupHoldingsPLC-AR_2020
34
Read more about our strategic priorities and KPIs page 26 to 45
12
annual_report
1581
357
The carrying value of property and equipment is reviewed for recoverability based on an evaluation of the estimated useful life of such assets.
23
10K
ch_zurich_insurance_group-AR_2019
2,846
Development of liabilities for investment contracts in USD millions 2019 2018
11
annual_report
SwissReAG-AR_2015
3,700
Our commitment to the Grow Africa Partnership thus centres on the following three goals: ̤ Give farmers in Sub-Saharan Africa access to tools such as weather and yield index insurance products; ̤ Invest in resources equivalent to about USD 2 million per year to support the development of sustainable agricultural risk m...
64
annual_report
BeazleyPLC-AR_2016
1,948
www.beazley.com158 Beazley Annual report 2016 2 Risk management continued The board’s strategy is to grow the dividend by between 5% and 10% per year. Our capital management strategy is to carry some surplus capital to enable us to take advantage of growth opportunities which may arise. At 31 December 2016, we have sur...
99
annual_report
1882
379
The amortized cost of our public and private below-investment grade fixed maturities totaled $63.8 million, or 12%, of the total fixed maturities as of December 31, 2002, compared to $45.6 million, or 10%, of total fixed maturities as of December 31, 2001. The increase in the amount of below-investment grade fixed matu...
69
10K
gb_prudential-AR_2006
4,769
Term to maturity: Less than 1 year – – 16 11.9
11
annual_report
2292
411
Year Ended December 31 ----------------------------------------- 2003 2002 2001 ---------------------------------------------------------------------------------------------------------------------- (in thousands) Adjusted net income: Income from continuing operations before cumulative effect of change in accounting pr...
111
10K
AvivaPLC-AR_2012
2,035
 a calculation of the ‘realistic’ present value of the insurer’s expected future contractual liabilities together with projected ‘fair’ discretionary bonuses to policyholders, plus a risk capital margin, together known as the ‘realistic peak’.
34
annual_report
3249
2,061
The Company is aware of the SEC’s review of the loss reserving practices of the financial guaranty industry. The Company recognizes that there is diversity in practice among financial guaranty insurers and reinsurers with respect to their accounting policies. Current accounting literature, specifically FASB Statement o...
216
10K
3086
901
At December 31, 2006, we did not hold any fixed maturity securities in any single issuer which exceeded 10 percent of shareholders’ equity other than securities issued or guaranteed by the U.S. government.
33
10K
gb_prudential-AR_2014
3,935
Rate of increase of pensions in payment for inflation: PSPS: Other schemes 3.0 3.3 * The discount rate has been determined by reference to an ‘AA’ corporate bond index, adjusted where applicable, to allow for the difference in duration between the index and the pension liabilities.
46
annual_report
fr_axa-AR_2016
10,296
AXA brand contributed by FINAXA as part of the 2005 merger and valued at €307 million at the time based on brand royalties billed to Group subsidiaries and to the Mutuelles AXA, and €32 million relating to the capitalization of software expenses .
43
annual_report
897
477
The payment of dividends from unassigned surplus by the insurance subsidiaries without prior approval of the Illinois Insurance Department is subject to certain restrictions principally including those relating to the greater of 10% of the prior year's statutory basis surplus or net income. The total amount of dividend...
61
10K
5299
1,394
Benefits and expenses decreased $1.5 billion from $2.4 billion in 2015 to $0.9 billion in 2016, primarily driven by a favorable variance in general, administrative and other expenses of $0.8 billion primarily driven by the commission and expense allowance, ceded trail commissions and the deferral of the loss on reinsur...
70
10K
4746
739
We deduct brokerage expense from gross revenues in our determination of our total revenues. Brokerage expense represents commissions paid to sub-brokers related to the placement of certain business by our brokerage segment. We recognize this expense in the same manner as commission revenues.
43
10K
5658
1,530
In our earlier years, we placed significant reliance on industry benchmarks in establishing our expected loss ratios and selecting loss development patterns. Over time, we have placed more reliance on our historical loss experience in establishing these ratios and selecting these patterns where we believe the weight of...
131
10K
PosteItalianeSpA-AR_2017
2,555
A10 - Cash and cash equivalents (€2,428 million) tab. A10 - Cash and cash equivalents
15
annual_report
INGGroepNV-AR_2016
5,048
Credit analysis at portfolio level is monitored using metrics such as economic capital, regulatory capital, exposure at default (EAD), probability of default (PD) and loss given default (LGD). To ensure efficient use of ING Bank’s capital, the risk appetite is monitored and managed at portfolio level by risk and financ...
95
annual_report
NatwestGroupPLC-AR_2014
3,939
‘reception committee’ for reviewing externally mandated changes that may affect RBS and recommending appropriate responses, including the timely mobilisation of change implementation activities. In doing so, it agrees business or function owners of individual risks; and commissions and reviews impact assessments from c...
46
annual_report
3912
1,576
expected claim payment is calculated based on the correlation between the default probability of the transaction and our default probability. The default probability of Radian is determined from the observed Radian Group credit default swap spread, and the default probability of the transaction is determined as describ...
78
10K
3958
1,284
Medicaid premiums for our West Operations increased by $61.1 million, or 7%, for the year ended December 31, 2008 as compared to the same period in 2007. These increases were primarily attributable to an increase in our Medi-Cal membership.
39
10K
DirectLineInsuranceGroupPLC-AR_2016
2,701
The measurement and management of liquidity risk within the Group is undertaken within the limits and other policy parameters of the Group’s liquidity risk appetite and is detailed within the liquidity risk minimum standard. As part of this process the Investment and Treasury team are required to put in place a liquidi...
93
annual_report
5571
2,825
We enter into the following additional commitments in the normal course of business for the purpose of enhancing the total return on our investment portfolio: mortgage loan commitments and commitments to fund partnerships, bank credit facilities, bridge loans and private corporate bond investments. See “Net Investment ...
134
10K
3549
2,082
The net funded status of the Company’s pension and other postretirement liabilities included within other liabilities has been excluded from the amounts presented in the table above. Rather, the amounts presented represent the discretionary contributions of $150 million to be made by the Company to the pension plan in ...
110
10K
SwissReAG-AR_2020
5,900
Biodiversity and Ecosystem Services (BES) underpin our daily lives and many of our products and services, from water and food to countless other resources. An estimated 55% of global GDP is moderately or highly dependent on BES at present, yet a study by Swiss Re Institute reveals that a staggering one-fifth of countri...
67
annual_report
RaiffeisenBankInternationalAG-AR_2007
1,037
A new consolidation platform was estab­ lished for the risk reporting as a means of ensuring a more effective evaluation of the entire Group. It forms the basis for consolidated risk management both for the entire retail customer segment and for individual products of that segment.
46
annual_report
5513
1,575
Additional income tax (provision) related to the rate decrease included in the Tax Act
14
10K
NatwestGroupPLC-AR_2013
5,946
Memorandum and Articles of Association The company's Memorandum and Articles of Association as in effect at the date of this annual report are registered with the Registrar of Companies of Scotland. The Articles of Association were last amended on 30 May 2012. Copies can be obtained from Companies House in the UK or fr...
58
annual_report
5644
1,870
Bornhuetter-Ferguson (“BF”) method: The BF method uses as a starting point an assumed IELR and blends in the loss ratio, which is implied by the claims experience to date using benchmark loss development patterns on paid claims data (“Paid BF”) or reported claims data (“Reported BF”). Although the method tends to provi...
101
10K
2417
1,237
The information included herein contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the results of operations and businesses of Nationwide Financial Services, Inc. and its subsidiaries (NFS, or collectively, the Company). These forward-l...
78
10K
PhoenixGroupHoldingsPLC-AR_2020
4,121
• negligence, mal-practice or failure of employees, or suppliers to follow good practice in delivering operational processes and practices.
19
annual_report
fr_axa-AR_2017
60
Finally, last December, the Board of Directors decided to propose the renewal of my and Thomas Burberl’s directorships at the next Shareholders’ Meeting, to be held on April 25, 2018, and also announced that it would reappoint Mr. Thomas Buberl as Chief
42
annual_report
AegonNV-AR_2000
755
USD 92 million from July 21 to December 31, 1999). The earnings decline is primarily due to strategic divestitures, higher interest cost and increased credit losses, which were partially offset by an increase in income from the lending business.
39
annual_report
Sampoplc-AR_2014
3,372
3) Group pension agreement with a retirement age of 60 and a pension benefit of 60 per cent of the pensionable TyEL-salary. The supplementary cost pertains to a yearly index adjustement.
31
annual_report
2613
1,110
Our ability to repay debt depends in part on dividends and cash transfers from our subsidiaries.
16
10K
4290
1,779
OneBeacon also incurred A&E losses via its participation in industry pools and associations. The most significant of these pools was Excess Casualty Reinsurance Association (“ECRA”), which provided excess liability reinsurance to U.S. insurers from 1950 until the early 1980s. ECRA incurred significant liabilities for A...
76
10K
4402
620
The equity securities reported as “purchases” primarily relate to our acquisition of Mercer Insurance Group. We purchased securities in the Federal Home Loan Bank of Des Moines, as a requirement to obtain membership and secure a loan used as part of the acquisition financing. These securities were classified as Level 3...
82
10K
3535
486
utilizing generally accepted actuarial methods that incorporate cumulative historical claims experience and information provided by in-house claims and operations personnel. Current economic and business trends are also reviewed and used in the reserve analysis. These include real estate and mortgage markets conditions...
116
10K
HiscoxLtd-AR_2010
1,255
Intragroup balances, transactions and any unrealised gains arising from intragroup transactions are eliminated in preparing the consolidated financial statements.
19
annual_report