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de_allianz-AR_2015
961
Loadings and fees Loadings and fees include premium and reserve based fees, unitlinked management fees, and policyholder participation in expenses.
20
annual_report
3558
710
The changes in the weighted average yield on cash and invested assets are attributable to the items affecting net investment income noted above. The decrease in weighted average interest crediting rate is due to a decrease in credited rates on both direct and assumed business.
45
10K
171
402
December 31, 1995 1994 (In Thousands) Internally developed software $210,686 $154,992 Purchased software 26,265 32,305 236,951 187,297 Less: Accumulated amortization (90,969) (68,676) Capitalized software costs, net $145,982 $118,621
28
10K
2446
1,134
During 2004 the Company’s gross loss on the sale of fixed maturity and equity securities amounted to $1.3 million and $1.9 million, respectively. The fair value of the fixed maturity and equity securities at the time of sale was $30.7 million and $7.5 million, respectively. During 2003 the Company’s gross loss on the s...
104
10K
3691
2,270
During the quarter ended December 31, 2007, the Company committed to a plan of sale of its interest in TBG Financial. Based on management’s determination that the carrying value of this business exceeded its estimated fair value (less estimated cost to sell), the Company recorded a $23.4 million loss, net of taxes. Dur...
95
10K
2196
878
We periodically evaluate whether the declines in fair value of our investments are other-than-temporary. Our evaluation consists of a review of qualitative and quantitative factors. We also consider additional factors to determine whether the declines in fair value are other-than-temporary, such as downgrades of the se...
83
10K
4378
1,133
AARP Program-related Investments. AARP Program-related investments consist of debt and equity securities held to fund costs associated with the AARP Program and are priced and classified using the same methodologies as the Company’s other securities.
35
10K
4384
507
Adjusted presentation - We believe that the adjusted presentation of our 2011, 2010 and 2009 statements of earnings, presented on the following pages, provides stockholders and other interested persons with useful information regarding certain of our financial metrics that may assist such persons in analyzing our opera...
75
10K
1727
698
The maximum availability under the amended and restated credit agreement has been reduced to $117 million at December 31, 2001 from $135 million at the end of 2000 due to required reductions in the agreement. At December 31, 2001, the Company has $28 million available under the agreement; however, the total availabilit...
128
10K
5364
1,159
Going forward, we expect CMS, the OIG, the DOJ, other federal agencies and the U.S. Congress to continue to scrutinize closely each component of the Medicare program (including Medicare Advantage, PDP, demonstration projects such as Medicare-Medicaid plans and provider network access and adequacy), modify the terms and...
82
10K
fr_axa-AR_2005
4,709
Loans/Guarantees/Capital Contributions The Company, from time to time, makes capital contributions and/or loans to its subsidiaries and affiliates to finance their business operations. As at December 31, 2005, the aggregate amount outstanding in respect of loans made by the Company to its subsidiaries or affiliates was...
285
annual_report
gb_prudential-AR_2007
2,442
For term business, acquisition costs are deferred and amortised in line with expected premiums. For annuity business, acquisition costs are deferred and amortised in line with expected gross profits on the relevant contracts. For interest-sensitive business, the key assumption is the expected long-term spread between t...
177
annual_report
2931
571
industry aggregates approximately $5.7 billion in direct written premiums, comprised of approximately $4.3 billion in surety premiums and $1.4 billion in fidelity premiums.
23
10K
gb_prudential-AR_2008
2,288
Excluding these short-term effects, the factors that most significantly affect the Jackson IFRS operating result based on longterm investment returns are: • Variable annuity business – net effect of market risk arising from the incidence and valuation guarantee features and variability of asset management fees offset b...
158
annual_report
3263
747
This Form 10-K may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties including, without limitation, those identified under Item 1A. “Risk Factors” and elsewhere in this Form 10-K. We u...
110
10K
AvivaPLC-AR_2016
2,441
Other required reporting Consistency of other information and compliance with applicable requirements Companies Act 2006 reporting
16
annual_report
nl_ing_grp-AR_2010
826
Various funds were launched for global sales. These funds included the ING (L) Invest Renta Fund Europe High Yield (produced by the Global Credit boutique), the ING (L) Invest Commodity Enhanced Fund and the ING (L) Invest Brazil Focus Fund.
40
annual_report
4183
6,333
Although the U.S. economy is recovering, the potential for another economic downturn remains.
13
10K
AegonNV-AR_2016
649
The impact of these requirements and any future regulations regarding investment advisors or other investment products, including proposed liquidity management rules and rules designed to enhance the regulation of the use of derivatives by registered investment companies, is still under review and cannot be predicted a...
48
annual_report
PhoenixGroupHoldingsPLC-AR_2012
449
Capital resources2 1.3 0.8 Capital resource requirements3 (0.3) (0.4) PLHL ICA surplus (estimated) 1.0 0.4 2 Capital resources includes the surplus over capital policy in the life companies, a prudent assessment of the present value of future profits of Ignis Asset Management and the net assets of the Holding Companies...
59
annual_report
INGGroepNV-AR_2012
5,425
MATURITY PROFILE Outstandings by tenor bucket The table below shows the outstanding of ING Bank by tenor. The figures assume that no new credit risks are introduced into the portfolio and that there are no delays in repayments associated with non-performing loans, nor are there write offs associated with provisions. Th...
64
annual_report
AvivaPLC-AR_2016
5,375
46 – Tax assets and liabilities This note analyses the tax assets and liabilities that appear in the statement of financial position and explains the movements in these balances in the year.
32
annual_report
4501
1,084
In conjunction with the eReinsure acquisition in 2011, the Company initially recorded goodwill of $32.1 million. During 2011, the Company made preliminary adjustments to goodwill based on information available regarding the values of assets and liabilities of eReinsure as of the acquisition date. These adjustments redu...
80
10K
HiscoxLtd-AR_2012
1,520
The final and interim dividends were either paid in cash or issued as a scrip dividend at the option of the shareholder. The final dividend for the year ended 31 December 2011 was paid in cash of £44,301,000 (2010: £31,803,000) and 562,194 shares for the scrip dividend (2010: 3,227,459).
49
annual_report
2084
972
The Company has separated, for financial reporting purposes, the Carolina Group and Loews Group. The following schedules present the consolidating condensed financial information for these individual groups. Neither group is a separate company or legal entity. Rather, each group is intended to reflect a defined set of ...
50
10K
3878
4,010
Includes $1.4 billion, $5 million and $(720) million at December 31, 2008, 2007 and 2006, respectively, related to the effect of net unrealized gains and losses on available for sale securities.
31
10K
5028
1,341
Our combined ratio for 2013 of 92.4% reflected a 55.5% loss and LAE ratio and a 36.9% expense ratio, and represented a significant improvement over the combined ratio reported for 2012 of 97.5%, consisting of a 57.4% loss and LAE ratio and a 40.1% expense ratio.
46
10K
HiscoxLtd-AR_2008
1,212
Weighted average number of ordinary shares in issue (thousands) 377,506 395,308 Adjustments for share options (thousands) 13,351 13,530
18
annual_report
590
458
In November 1996, the Company invested $10,000,000 in a municipal security trading partnership. The primary focus of the partnership is municipal arbitrage. Municipal arbitrage is an investment strategy which attempts to capitalize on the certain anomilies which tend to occur in the municipal bond market. Such ineffici...
60
10K
RSAInsuranceGroupPLC-AR_2017
2,077
We communicated identified laws and regulations throughout our team and remained alert to any indications of noncompliance throughout the audit. This included communication from the Group to component audit teams of relevant laws and regulations identified at group level, with a request to report on any indications of ...
64
annual_report
LloydsBankingGroupPLC-AR_2013
3,147
The Group’s accounting policy for loan renegotiations and forbearance is set out in note 2 on page 213.
18
annual_report
fr_axa-AR_1999
4,704
In addition, DLJ enters into commitments in extend credit to non-investment grade borrowers in connection with the origination and syndication of senior bank debt. At December 31, 1999, unfunded senior bank loan commitments outstanding amounted to
36
annual_report
TopdanmarkAS-AR_2015
311
On 23 September 2013, the EU Commission decided that If P & C Insurance Holding Ltd (publ) de facto is in control of Topdanmark. As a consequence of this special situation, it has been agreed that Topdanmark’s Executive Board earns a compensation over three years, representing six months' salary for each qualifying yea...
87
annual_report
1900
727
The SFAS 142 impairment testing process includes two phases. The first phase (Test 1) compares the fair value of each reporting unit to its book value. The fair value of each reporting unit is determined by using discounted cash flow analysis, market approach valuations and third-party valuation advisors. If the fair v...
156
10K
863
407
Deferred income taxes of $3.1 million consisted of federal and state income taxes that are anticipated to be recovered in future years. At this time, this asset is expected to be fully recoverable.
33
10K
4656
1,513
Activity within VOBA was as follows for the years ended December 31, 2012, 2011 and 2010.
16
10K
4269
747
The decrease in Health Benefits earnings from operations for 2009 was primarily due to a $166 million reduction in investment and other income and a decrease in commercial business, partially offset by the growth in lower margin public and senior markets businesses. Health Benefits’ operating margins decreased due to t...
56
10K
HiscoxLtd-AR_2019
569
Monthly video-linked ‘box meetings’, regular social events and a popular social media group all reinforce this sense of togetherness. This connectedness has definitely produced results – our Iberia unit has been a standout success in recent years.
37
annual_report
StorebrandASA-AR_2007
473
Storebrand insists that external recruitment consultants put forward both male and female candidates on short lists for management recruiting.
19
annual_report
543
683
Premiums receivable include as of December 31, 1996 and 1995 an estimated $15.0 million for amounts due the Company with respect to the prior operation of a governmental managed care program of which $10.0 million was recorded as Other Income for the year ended December 31, 1995.
47
10K
NatwestGroupPLC-AR_2016
3,597
The results of stress tests are not only used widely across the
12
annual_report
ASRNederlandNV-AR_2018
3,279
The operating expenses of a.s.r. bank are excluded from the operating expenses as a result of the classification as ‘held for sale’ (see chapter 7.4.6).
25
annual_report
LloydsBankingGroupPLC-AR_2011
568
the success of the exercise was a tribute to the way in which colleagues throughout the Community banks worked together. the branch experience involved colleagues from halifax and bank of scotland working in lloyds tsb branches. this practical hands-on experience saw communities working together, sharing knowledge and ...
56
annual_report
SwissReAG-AR_1909
2
lary and Fidelity Guarantee Dept|. Premium Reserve Frs. 7,246,854. — Reserve for outstanding losses and pro­
16
annual_report
TrygAS-AR_2005
238
Large claims, comprising three property claims, were at a slightly higher level than in a normal year but were more than offset by run-off gains of DKK 164m.
28
annual_report
StandardLifeAberdeenPLC-AR_2014
1,889
(u) Insurance and investment contract liabilities For insurance contracts and participating investment contracts, IFRS 4 Insurance Contracts permits the continued application, for measurement purposes, of previously applied Generally Accepted Accounting Principles (GAAP), except where a change is deemed to make the fin...
136
annual_report
3166
641
Total liabilities increased by $2.560 billion, from $27.608 billion at December 31, 2005 to $30.168 billion at December 31, 2006. Corresponding with the asset change, separate account liabilities increased by $2.858 billion, as described above. Policyholder account balances decreased by $310 million, primarily due to c...
178
10K
3395
819
On May 29, 2007, the Company completed a public debt offering of $300 million of 6.90%, Subordinated Debt. The Subordinated Debt has a final maturity on June 1, 2067, is non-callable at par for the first 10 years and is subject to a replacement capital covenant. The covenant limits replacement of the Subordinated Debt ...
219
10K
4722
1,592
On August 22, 2012, we issued six million shares of 8.25% Preference Shares - Series A, par value $0.01 per share, at $25 per share. The Company received net proceeds of $145.0 million from the offering, after deducting expenses and underwriting discounts of $5.0 million. The Preference Shares - Series A have no stated...
98
10K
4883
5,733
Non-contributory defined contribution retirement plans for eligible general agents and sales agents provide supplemental payments based upon earned agency first year individual life and annuity commissions. Contributions to these plans in 2014 were $0.1 million (2013 - $0.1 million; 2012 - $0.1 million). Non-contributo...
76
10K
PosteItalianeSpA-AR_2019
9,603
The procedures performed on the NFS were based on our professional judgement and consisted in interviews, primarily of company personnel responsible for the preparation of the information presented in the NFS, analyses of documents, recalculations and other procedures designed to obtain evidence considered useful.
44
annual_report
RaiffeisenBankInternationalAG-AR_2007
2,180
The current values of collateral and other risk mitigation effects are calculated with each credit assessment as well. For the calculation of risk mitigation effects, the value accounted for is the value Raiffeisen International expects to receive when selling the collateral within a reasonable liquidation period. Elig...
84
annual_report
4577
1,114
There were no material transfers between Levels I, II and III during the years ended December 31, 2012, 2011 and 2010. The significant decline in plan assets measured using Level III inputs as of December 31, 2012 was primarily due to the sale of an equity partnership.
47
10K
NatixisSA-AR_2016
2,156
Furthermore, in line with the provisions of the AFEP-Medef the two years prior to leaving the Company. The fulfillment of these criteria will be verified by the Board of Directors.
30
annual_report
5634
13,401
Summary of the volume and fair value positions of derivative instruments as of December 31, 2018
16
10K
347
361
Holdings has entered into employment agreements with certain executives which grant the executives the right to receive certain benefits, including base salary, should such executives be terminated other than for cause.
31
10K
gb_prudential-AR_2017
3,149
The free‑standing, other than equity‑related derivatives, are held to manage interest rate exposures and durations within the general account and the variable annuity guarantees and fixed index annuity embedded options described in note (a) above. Accounting mismatches arise because of differences between the measureme...
69
annual_report
ch_zurich_insurance_group-AR_2017
616
External appointments In September 2017 he was appointed nonexecutive chairman of the board of Aggregate Asset Management. Since January 2016 he has also been an independent director of the board of Wilmar International Limited, Singapore. In addition, he serves on boards and councils of several institutions in Singapo...
89
annual_report
5329
1,624
The following table summarizes our audited results of operations for the years ended December 31, 2016 and 2015:
18
10K
4098
1,488
The decrease in net investment income of $112 million was primarily due to a $317 million decrease from lower yields, partially offset by a $205 million increase from growth in average invested assets. Yields were adversely impacted by the severe downturn in the global financial markets, which primarily impacted other ...
183
10K
1358
217
A summary of our premiums and product charges is as follows:
11
10K
4987
1,057
We own a 50% interest in a joint venture, Berkadia Commercial Mortgage LLC (“Berkadia”), with Leucadia National Corporation (“Leucadia”) owning the other 50% interest. Berkadia is a servicer of commercial real estate loans in the U.S., performing primary, master and special servicing functions for U.S. government agenc...
124
10K
AegonNV-AR_2016
5,408
Total financial liabilities at fair value through profit or loss 7,926 43,413 9,852 40,981
14
annual_report
4028
609
In determining the liabilities for GMDB, GMIB and the life contingent benefits associated with GMWB, RiverSource Life projects these benefits and contract assessments using actuarial models to simulate various equity market scenarios. Significant assumptions made in projecting future benefits and assessments relate to ...
106
10K
3674
3,300
The interest rates on the other floating rate notes are based on LIBOR and the U.S. Consumer Price Index. Interest rates ranged from 2.7% to 8.7% in 2008 and 2.7% to 7.5% in 2007.
34
10K
RaiffeisenBankInternationalAG-AR_2013
1,040
The performance of the CGUs is evaluated as follows:  Profitability
11
annual_report
5284
1,315
Our investment returns for the years ended December 31, 2016, 2015 and 2014 were as follows:
16
10K
3523
1,078
In the past, cash flows from our insurance operations have been sufficient to meet current needs. Cash flows from operating activities were $37.9 million, $39.1 million and $34.5 million for the years ended December 31, 2007, 2006, and 2005, respectively. We have traditionally also had significant cash flows from both ...
95
10K
StandardLifeAberdeenPLC-AR_2013
466
Equity and property risk • Changes in the value of future profits earned on unit linked funds and collective investment schemes where the funds are invested in equities and property
30
annual_report
NatixisSA-AR_2019
1,703
Natixis’ performance — underlying net income, Group share 1,370 1,607 1,715 1,372 1,344
13
annual_report
4366
802
Net cash used for financing activities was $1.0 billion in 2011 compared with $1.1 billion of net cash used for financing activities in 2010. The Company reduced outstanding debt by approximately $100 million, $550 million and $10 million in 2011, 2010 and 2009, respectively.
44
10K
AdmiralGroupPLC-AR_2015
2,773
1.5 Employee share schemes The Company operates a number of share schemes for its employees. For equity settled schemes commencing 1 January 2004 and after, the fair value of the employee services received in exchange for the grant of free shares under the schemes is recognised as an increase in equity in the Company.
54
annual_report
1894
661
In October 2001, the FASB issued Statement of Financial Accounting Standards No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets" ("SFAS 144"). SFAS 144 addresses financial accounting and reporting for the impairment or disposal of long-lived assets and supersedes SFAS 121 and the accounting and re...
204
10K
ASRNederlandNV-AR_2009
1,393
Net result attributable to holders of equity instruments -560 48 -128 -640 5.4 Technical result The technical result before realized results for the group’s own account includes the insurance premiums, allocated investment income less insurance costs (claims), distribution and operating costs. The investment revenues i...
86
annual_report
5652
955
Reimbursed expenses - Client reimbursable expenses, including those relating to travel, other out-of-pocket expenses and any third-party costs, are included in revenue, and an equivalent amount of reimbursable expenses is included in other operating expenses as a cost of revenue as incurred. Reimbursed expenses represe...
75
10K
ScorSE-AR_2017
5,141
The Group has implemented proportionate processes both in terms of reduction and recovery of its waste production on its main locations. In this respect, SCOR selectively monitors its waste, particularly the most toxic products for the environment (electronic and computer waste, batteries, ink cartridges and toners, et...
78
annual_report
RSAInsuranceGroupPLC-AR_2011
651
Geographical breakdown of CO2e emissions for 2011 (Tonnes of CO2e *)
11
annual_report
4465
878
· Premiums - Earned premiums and net written premiums rose in 2011, primarily due to an $85 million increase in renewal written premiums that reflected the effects of slowly improving economic conditions and improved pricing. Premium growth initiatives that helped new business written premiums grow $18 million in 2011 ...
88
10K
2873
987
The Company currently uses foreign currency forward contracts in its investment portfolios to minimize the effect of fluctuating foreign currencies and to gain exposure to interest rate differentials between differing market rates. Foreign currency forward contracts purchased are not specifically identifiable against c...
98
10K
5635
780
In addition to net income, we have consistently utilized non-GAAP operating income, a non-GAAP financial measure commonly used in the life insurance industry, as an economic measure to evaluate our financial performance. Non-GAAP operating income equals net income adjusted to eliminate the impact of items that fluctuat...
182
10K
1532
408
(3) Estimates of allocated, as well as unallocated, loss adjustment expense liabilities determined by applying percentage factors to the unpaid loss reserves, with such factors determined on a by-line basis based on past results of paid loss expenses to paid losses.
41
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2003
1,966
Change in other underwriting provisions – Provision for future policy benefits 673 215 12 34 1,328 3,034 27 27 2,040 3,310
21
annual_report
fr_axa-AR_2017
2,593
Risk Management: Risk Management is a local responsibility, in accordance with GRM standards and guidelines. The roles and responsibilities of local Risk Management teams are validated jointly by the Executive Committees of local entities and the Group’s Chief Risk Off icer to ensure a better alignment of central and l...
51
annual_report
AvivaPLC-AR_2009
3,989
Income from associates predominantly relates to our investments in the Royal Bank of Scotland (RBS) life and collective investment companies listed in note 19(b). Under management service agreements with these associates, our UK life insurance companies provide administration services, the cost of which is recharged to...
88
annual_report
4455
1,122
Commissions and fees. Commissions and fees are typically paid to third-party producers who are affiliated with the Company’s businesses. Commissions and fees are also paid to producers who utilize the services of one or more of the Company’s life brokerage entities, including the Company’s life settlements brokerage en...
292
10K
NatwestGroupPLC-AR_2016
9,223
England or other central banks, continued sustained low or negative interest rates or any divergences in monetary policy approach between the Bank of England and other major central banks could put further pressure on the Group’s interest margins and adversely affect the Group’s profitability and prospects. A
47
annual_report
RSAInsuranceGroupPLC-AR_2015
37
We have tightened our strategic focus onto three core regions; the UK & Ireland, Scandinavia and Canada.
17
annual_report
NatwestGroupPLC-AR_2019
1,377
In compliance with the Code, the pension allowance rates for executive directors under the 2020 policy have been aligned with those of the wider RBS workforce, currently 10% of base salary (2). The rate may be increased or reduced in order to remain aligned with the wider RBS workforce.
49
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2011
1,440
Business combinations 4 13 disposals loss of control 260 6 impairment losses reversed 7 19 depreciation and impairment losses impairment losses 57 37 carrying amount at 31 dec. financial year 3,889 4,247 accumulated depreciation and accumulated impairment losses at 31 dec. financial year 1,014 895 gross carrying amount...
55
annual_report
LloydsBankingGroupPLC-AR_2016
3,368
We also considered whether certain recent events and macro-economic factors (e.g. continued volatility and uncertainty around commodity prices, sterling exchange rate movements and further reduction in interest rates) had been appropriately considered and captured.
34
annual_report
AegonNV-AR_2004
2,753
• Forward rate agreements/futures are commitments to purchase or sell a financial instrument at a future date for a specific price.
21
annual_report
de_allianz-AR_2004
1,592
United States, economic growth will be constrained by the trade and budget deficits and by the fact that consumer spending will likely increase only moderately due to the high debt burden of private households and rising interest rates. Based on our observations, Japan’s economy will follow a similar pattern. Following...
69
annual_report
2003
343
The All Other segment contains the runoff risk-bearing environmental and general liability operations from the 1980's, primarily written in the state of California. The segment also includes the Company's runoff risk-bearing workers' compensation operations primarily written in the state of Florida in the early 1990's.
45
10K
SwissReAG-AR_2014
371
Reinsurance Reinsurance is swiss Re’s largest business in terms of income and the foundation of our strength, providing about 85% of gross premiums and fee income through two segments — property & Casualty and Life & health. The unit aims to extend swiss Re’s industryleading position with disciplined underwriting, prud...
56
annual_report
4529
24,138
Management’s discussion and analysis reviews our consolidated financial condition at December 31, 2012 and 2011; our consolidated results of operations for the years 2012, 2011 and 2010; and, where appropriate, factors that may affect our future financial performance. This discussion should be read in conjunction with ...
63
10K
NatixisSA-AR_2019
1,126
Management and oversight of corporate governance 59NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019www.natixis.com
11
annual_report
SwissReAG-AR_2017
3,154
Total 49 497 3 145 –398 52 244 Corporate debt securities 39 510 3 218 –136 42 592 Mortgage- and asset-backed securities 4 271 162 –19 –2 4 412
29
annual_report
ScorSE-AR_2008
67
For Casualty business, the frequency and severity of claims and the related indemnifi cation payment amounts can be affected by several factors. The most signifi cant factors are the changing legal and regulatory environment, including changes in civil liability law. Additionally, due to the length of amicable, arbitra...
96
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2006
1,256
We apply such criteria in our operational ecology as well: Munich Re Munich and Victoria have had their environmental management systems certified to EMAS (EU Eco-Management and Audit Scheme) and to ISO 14001, a standard to which DAS UK is also certified. The ERGO Insurance Group has significantly increased its environ...
55
annual_report
StandardLifeAberdeenPLC-AR_2020
2,730
• The ability to value tax losses and other tax assets also affects the tax charge. We have not recognised a deferred tax asset of £7m on tax losses arising in the year due to uncertainty as to when these losses will be utilised. In addition, we have recognised £2m of previously unrecognised deferred tax assets due to ...
65
annual_report