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5935
891
The calculation of the credit loss allowance will not take into account the amount of time the security has been below book value or when the security might be expected to recover in value.
34
10K
3851
744
The Company earns revenues principally from insurance premiums; mortality, expense, and asset administration fees from insurance and investment products; and investment of general account and other funds. The Company earns premiums primarily from the sale of term individual life insurance. The Company earns mortality, ...
99
10K
5594
2,304
As of December 31, 2018 and 2017, we were in compliance with all debt covenants related to the borrowings in the table above. For further information on our short- and long-term debt obligations, see Note 16 to our Consolidated Financial Statements.
41
10K
SwissReAG-AR_2019
5,240
We therefore diversify our access to risk pools to fulfill our purpose and succeed. We do this by leveraging three strategic assets that we have built over more than 150 years.
31
annual_report
133
102
NOTES: (a) The financial information for all periods prior to 1995 has been restated for acquisitions accounted for using the pooling-of-interests method. (b) Based on the weighted average number of common and common equivalent shares, if any, outstanding during the year. (c) Based on the number of employees at year en...
68
10K
AvivaPLC-AR_2015
2,002
Historical TSR performance and Group CEO remuneration outcomes Table 10 compares the TSR performance of the Company over the past seven years with the TSR of the FTSE 100 Return Index. This index has been chosen because it is a recognised equity market index of which Aviva is a member. In addition, median TSR performan...
85
annual_report
5139
1,441
Net investment income: (i) includes investment hedge adjustments which represent earned income on derivatives and amortization of premium on derivatives that are hedges of investments or that are used to replicate certain investments, but do not qualify for hedge accounting treatment, (ii) includes income from disconti...
81
10K
gb_prudential-AR_2002
109
With 22 operations in 12 countries across the region, its multichannel distribution capability, strong strategic partners, and customer-focused product expertise, PCA is very well placed to deliver profitable growth in the future.
32
annual_report
Sampoplc-AR_2010
2,311
The following actuarial assumptions have been used for the calculation of de ned bene t pension plans in Sweden and Norway: Sweden Sweden Norway Norway
25
annual_report
gb_prudential-AR_2017
4,575
Total net effect on shareholders' equity (802) (167) (258) (419) 303 318 (532) (884)
14
annual_report
2788
4,136
Through the acquisitions of HPA and GroupLink, which is 75% owned by IHC, in 2005 and IAC in 2006, IHC has expanded into multiple new Fully-Insured Health first- dollar health product s, including short-term medical (“ST M ”), group major medical (including Consumer Driven Health Plans (“CDHPs”)), dental and vision (th...
263
10K
fr_axa-AR_2006
4,146
Equity securities at fair value through profit and loss 3,383 3,530 144
12
annual_report
5475
1,285
The following tables highlight the aggregate unrealized loss position, by security type, of fixed maturities and equity investments in unrealized loss positions as of December 31, 2017 and December 31, 2016. The tables segregate the holdings based on the period of time the investments have been continuously held in unr...
52
10K
ASRNederlandNV-AR_2008
410
6.4.1.6 Impairment of financial asset In the ASR investment portfolio investment instruments are presented as held at fair value through profit or loss or as available for sale. In the case of instruments presented as being held at fair value through profit or loss, the changes in market value are shown directly in the...
124
annual_report
AegonNV-AR_2015
1,914
Highlights One of the key focus areas of the Supervisory Board in 2015 was
14
annual_report
5406
1,022
During 2017 the underwriting environment continued to be challenging in most of our classes, but we did see evidence of rate improvements with rates up by approximately 1% in the fourth quarter. Price decreases decelerated in 2017 compared to 2016 and with early January 2018 rate observations we are seeing evidence of ...
58
10K
fr_axa-AR_2015
3,591
Code, the executive offi cers of the Company make a formal commitment to not resort to hedging transactions.
18
annual_report
NatixisSA-AR_2004
805
Assets leased to third parties under operating leases (110) (7) 7 - - (110)
14
annual_report
NatwestGroupPLC-AR_2015
8,477
The challenging operating environment for the Group’s businesses, created by uncertain economic and market conditions, is characterised by: • prolonged periods of low interest rates resulting from ongoing central bank measures to foster economic growth which constrain, through margin compression and low returns on asse...
110
annual_report
ASRNederlandNV-AR_2019
4,028
Specific area of focus include the fair value hierarchy disclosure, where the investments are classified in 3 levels: Level 1: fair value based on quoted prices in active market; Level 2: fair value based on observable market data; and Level 3: fair value not based on observable market data. The level 3 investments are...
64
annual_report
5387
2,428
Within the investment portfolio the Company is exposed to foreign currency risk. Accordingly, the fair values for the investment portfolio are partially influenced by the change in foreign exchange rates. The Company may enter into foreign currency forward contracts to manage the effect of this foreign currency risk. T...
63
10K
de_allianz-AR_2004
3,117
Employee information At the end of 2004, the Allianz Group employed a total of 162,180 people 2002: 86,768) were employed in Germany and 86,513 (2003: 91,505; 2002: 94,883) abroad. The number of employees undergoing training decreased by 1,157 in 2004 to 4,906 .
43
annual_report
5187
1,694
• all underlying mutual fund investment values remained at the December 31, 2015 value of $944 million with no future returns. The Company has reinsurance coverage in place that covers the exposures on these contracts. Using these hypothetical assumptions, GMIB exposure is $776 million, which is lower than the recorded...
70
10K
gb_lloyds_banking_grp-AR_2010
4,886
FAIR VALUE OF FINANCIAL INSTRUMENTS In accordance with IFRS 7, the Group categorises financial instruments carried on the balance sheet at fair value using a three level hierarchy. Financial instruments categorised as level 1 are valued using quoted market prices and therefore there is minimal judgement applied in dete...
89
annual_report
AdmiralGroupPLC-AR_2019
3,524
The PD is applied to the EAD to calculate the expected loss. Where customers are up-to-date the EAD is effectively the sum of the future month-end balances, as such the PD is converted from an annual rate to a monthly rate before applying it to the EAD. The LGD is then applied to this loss to calculate the total expect...
76
annual_report
5071
1,970
equity and cost method investments in private equity funds, hedge funds and other entities as well as investments in life settlements, aircraft and real estate.
25
10K
TrygAS-AR_2003
148
In order to operate a profitable business, the insurance industry looked even more carefully at its ability to attract capital than it did in previous years.
26
annual_report
PosteItalianeSpA-AR_2020
10,401
processes, for which there are areas of inadequacy, with the need to clarify, by integrating the procedural structure, the manner in which the Consortium intends to carry out its role in relations with Consortium members, in accordance with the mandate granted to it under the bylaws.
46
annual_report
4129
1,615
As of December 31, 2009, 336,000 shares of the Parent's common stock were available for issuance pursuant to outstanding stock option awards under the Stock Option Plan for Directors, under which future grants ceased being available with the approval of the Stock Plan. All non-employee directors participated in this pl...
105
10K
5774
1,920
Included in our underwriting results for 2018 were the 2018 Large Loss Events, which had a net negative impact on our underwriting result of $340.2 million and added 18.6 percentage points to the combined ratio, partially offset by changes in the estimates of the 2017 Large Loss Events, which had a positive impact on t...
130
10K
fr_axa-AR_2011
11,508
AXA Group and local entities invested €17.5 million in philanthropic activities in 2011. The themes covered included arts & culture, economic development, education & youth, emergency relief, the environment, health, or social welfare.
33
annual_report
2046
1,174
AMS sold $447.0 million and $765.0 million principal amount of student loans during the year ended December 31, 2001 and 2000, respectively, from which AMS generated gains on net sales in the amount of $11.3 million and $7.8 million, respectively. While AMS sold a lesser principal amount of loans in 2001 than in 2000, ...
76
10K
2948
1,014
Financial data from the London and Paris branches and from TRZ are reported in the aggregate as International-Europe and considered as one segment due to operational and regional similarities. Data from branches in the Americas, other than those in the United States which underwrite primarily domestic business, (i.e., ...
107
10K
NatixisSA-AR_2016
11,200
Analysis of financial positiona 172; 188 to 202 112 to 118; 124 to 154; 159 to
16
annual_report
3385
949
Statutory net income of Alleghany’s insurance operating units was $344.5 million and $237.3 million for the years ended December 31, 2007 and 2006, respectively. Combined statutory capital and surplus of Alleghany’s insurance operating units was $1,756.9 million and $1,397.3 million at December 31, 2007 and 2006, respe...
47
10K
RaiffeisenBankInternationalAG-AR_2008
2,103
As in both Warehousing-transactions, significant chances and risks of the portfolio remain within the Group, the special purpose entities are integrated into the consolidated group. Therefore the securitised loans and the liabilities securitised by the Warehousing notes towards external investors are disclosed in the c...
47
annual_report
656
130
At December 31, 1997, real property investments (through two unconsolidated joint ventures, N/S Associates and 1225 Connecticut), one land sale-leaseback investment (Monmouth Associates), and short-term investments represented 50.9 percent, 30.3 percent and 18.5 percent of total assets, respectively. At December 31, 19...
66
10K
ch_zurich_insurance_group-AR_2010
721
Value of outstanding deferred remuneration As at December 31, 2010, the Group’s remuneration system included four main instruments for the deferral of remuneration: • Unvested performance share grants
28
annual_report
5293
1,110
Securities Lending Transactions. We participate in securities lending transactions with broker-dealers and other financial institutions to increase investment income with minimal risk. We require minimum collateral on securities loaned equal to 102% of the fair value of the loaned securities. We accept collateral in th...
174
10K
BaloiseHoldingLtd-AR_2006
340
RO L F S C H Ä U B L E : Our record earnings will again enable us to distribute a very attractive cash dividend. We will propose to the shareholders’ meeting a dividend increase to
37
annual_report
SwissReAG-AR_2008
2,040
The collateral held predominantly consists of investment grade securities. Swiss Re Group would incur losses when some or all of these securities drop in value or default. The Group’s maximum exposure to loss equals the higher of the carrying amount of the collateral protected or the carrying amount of the insurance-li...
55
annual_report
3648
2,147
Covenants. Certain of the Company’s debt instruments, credit facilities and committed facilities contain various administrative, reporting, legal and financial covenants. The Company believes it is in compliance with all covenants at December 31, 2008 and 2007.
36
10K
LloydsBankingGroupPLC-AR_2012
1,782
Directors’ remuneration policy The Group’s remuneration policy continues to support our business values and strategy, based on building long-term relationships with our customers and employees and managing the financial consequences of our business decisions across the entire economic cycle.
39
annual_report
5069
664
Asset management segment adjusted EBITDA was $5.4 million for 2015 compared to $6.2 million in the prior year. Decline was driven by the same factors discussed above.
27
10K
HannoverRueckSE-AR_2012
2,484
Commissions and brokerage, change in deferred acquisition costs in EUR thousand 2012 2011
13
annual_report
275
427
UNUM was committed at December 31, 1995, to purchase fixed maturities and other invested assets in the amount of $91.2 million.
21
10K
1074
401
1998 1997 Net income: As reported $279,278 $3,484,566 Pro forma $253,951 $3,074,985
12
10K
5063
2,138
As of March 9, 2015, ING Group and its affiliates are no longer considered related parties of Voya Financial, Inc.
20
10K
gb_prudential-AR_2009
4,940
Malaysia Philippines Singapore Taiwan Thailand Vietnam Malaysia Philippines Singapore Taiwan Thailand Vietnam Asian operations note iii note iv note iii note iv note iii note iii
26
annual_report
3562
1,668
We believe that the Medicare Advantage program (including PDP) provides a significant opportunity for growth in membership. We commenced offering Medicare Advantage products in 2005, with the introduction of our Medicare Selecto and Medicare Optimo plans. Membership enrolled in our Medicare Advantage programs increased...
103
10K
4286
6,161
The amortized cost and estimated fair value of fixed-income securities at December 31, 2010, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
45
10K
NatixisSA-AR_2014
3,303
Between the 2009-2013 and 2010-2014 periods, the number of serious incidents fell by 30% and their fi nancial impact decreased by 5%.
22
annual_report
NatwestGroupPLC-AR_2004
1,573
The Group Secretary is responsible for advising the Board, through the Chairman, on all governance matters. All directors have access to the advice and services of the Group Secretary who is responsible to the Board for ensuring that Board procedures are followed and that applicable rules and regulations are complied w...
68
annual_report
StandardLifeAberdeenPLC-AR_2018
3,889
Adjusted cash generation provides insight into our ability to generate cash that supports further investment in the business and the payment of dividends to shareholders. The IFRS consolidated statement of cash flows includes policyholder cash flows, and therefore does not present a shareholder view, and does not exclu...
50
annual_report
AvivaPLC-AR_2006
1,412
In deciding basic salary increases, the Committee reviewed: – FTSE 50 basic salaries for executive directors; – Deloitte’s and Towers Perrin’s basic pay increase projections for 2006; and
28
annual_report
2335
941
The ABS exposure of the LNC portfolio ended 2003 with a gross unrealized loss of $29.4 million, an improvement of $41.8 million from year-end 2002. Of this amount, $12.0 million relates to CDOs and $8.2 million relates to ABS secured by manufactured housing receivables. CDOs had experienced pressure due to the nature o...
94
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2008
3,339
Credit default swaps Capital market instruments used by investors to hedge against the risk of debtors defaulting. The size of the spread depends on the market’s assessment of the default probability and therefore provides a good indicator of a company’s or country’s credit standing.
44
annual_report
5376
1,288
Workers' Compensation. The projection of changes in claim severity trend has not historically been an influential factor affecting our workers' compensation analysis of reserves, as claims are typically resolved more quickly than the industry norm. As previously mentioned, the determination and calculation of loss deve...
68
10K
AegonNV-AR_2008
81
Furthermore, we regard it as essential to put in place clear contingencies that will enable AEGON
16
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2016
1,061
Notes to the consolidated income statement 30 Income from technical interest 153 31 Expenses for claims and benefits 154 32 Operating expenses 154 33 Investment result 155 34 Insurance-related investment result 155 35 Other operating result 155 36 Other non-operating result, impairment losses on goodwill and net financ...
55
annual_report
1406
766
The Company also enters into short sales as part of its portfolio management strategy. Short sales are commitments to sell a financial instrument not owned at the time of sale, usually done in anticipation of a price decline. These sales resulted in proceeds of $224.7 and $201.8 with fair value liabilities of $201.1 an...
79
10K
3220
1,352
o When Scottish Re (U.S.), Inc. enters into a reinsurance transaction, it typically incurs a need for additional statutory capital to cover strain from acquisition costs and increases in required risk-based capital. To the degree its own surplus is not sufficient to meet this need, we can make an additional capital con...
198
10K
3023
2,942
Annualized pre-tax yield on average cash and invested assets 4.4 % 5.0 %
13
10K
4735
975
Multiple peril results were highly profitable in 2013 compared with profitable results in 2012 and slightly unprofitable results in 2011. The more profitable results in 2013 compared with 2012 were due primarily to a lower impact of catastrophes in the property component of this business. Results for the liability comp...
154
10K
2381
800
Net income for the year ended December 31, 2003 and the 2002 Period was as follows ($ in thousands):
19
10K
5920
1,891
The following table sets forth the computation of basic and diluted net earnings per ordinary share for the years ended December 31, 2020, 2019 and 2018:
26
10K
3878
3,388
At each balance sheet date, AIG evaluates its securities holdings with unrealized losses. When AIG does not intend to hold such securities until they have recovered their cost basis based on the circumstances at the date of evaluation, AIG records the unrealized loss in income. If a loss is recognized from a sale subse...
84
10K
5910
597
The Family Heritage Division primarily markets limited-benefit supplemental health insurance in non-urban areas. Most of its policies include a cash-back feature, such as a return of premium, where any excess of premiums over claims paid is returned to the policyholder at the end of a specified period stated within the...
123
10K
3018
677
The value of business acquired ("VOBA") represents the actuarially determined present value of projected future gross profits from the Keyport Life Insurance Company ("Keyport") policies in force at the date of the Company’s acquisition of Keyport (November 1, 2001). This amount is amortized in proportion to the projec...
61
10K
AdmiralGroupPLC-AR_2018
1,704
In our opinion: • the financial statements of Admiral Group plc (the ‘parent company’) and its subsidiaries (the ‘group’) give a true and fair view of the state of the group’s and of the parent company’s affairs as at 31 December 2018 and of the group’s profit for the year then ended; • the group financial statements h...
103
annual_report
5729
1,575
During the fourth quarter of 2019, the Company recorded $0.6 million of compensation expense equal to the fair value of the remaining 247,450 fully vested shares of the 2018 Modified Restricted Stock Award. The grant-date fair value of the 2018 Modified Restricted Stock Award was determined using the closing price of K...
77
10K
4486
1,618
The Company continues to evaluate new distribution opportunities and continues efforts to expand its portfolio and the size of its field force by developing additional marketing arrangements. We believe the implementation of these new opportunities, along with the current cost reduction program, will help mitigate futu...
48
10K
NatwestGroupPLC-AR_2014
8,310
Private Banking provides banking and wealth management services in the UK through Coutts & Co and Adam & Company, offshore through
21
annual_report
2772
906
SFAS No. 107, Disclosures about Fair Value of Financial Instruments, requires disclosures of fair value information of financial instruments. Information about specific valuation techniques and related fair value detail is provided in Note 1-Summary of Significant Accounting Policies, Note 4-Investments and Note 8-Comm...
63
10K
gb_prudential-AR_2007
595
Operating profit from asset management operations 203 161 26 161 26 Operating profit from Prudential Capital 51 43 19 43 19 *Revenue excludes income earned by Prudential Capital and by investment funds controlled by the asset management operations. †Based on longer-term investment returns.
43
annual_report
NatixisSA-AR_2019
10,998
In 2019, Natixis and its subsidiaries organized several collections of items to be donated to charity, including books (for Adiflor and Bibliothèques Sans Frontières), work clothes (for La Cravate Solidaire) and toys (for Secours Populaire and Rejoué). A Christmas market in aid of Secours Populaire was also held in var...
52
annual_report
nl_ing_grp-AR_2012
914
In addition, ING IM US was ranked in first place among defined contribution investment managers for client loyalty and favourability by market researcher Cogent Research. ING IM US was also awarded the 2012 Dalbar Seal of Excellence for its mutual fund call centre and for the quality of its client statements.
51
annual_report
ScorSE-AR_2010
239
Therefore, SCOR remains exposed to the risk of losing its competitive advantage. In particular, when available reinsurance capacity is greater than the demand from ceding companies, its competitors, some of which hold higher ratings than it does, may be better positioned to enter new contracts and gain market shares at...
52
annual_report
5550
1,938
On September 29, 2016, Arch Capital completed a $450 million underwritten public offering of 18.0 million depositary shares
18
10K
4425
492
Acquisition costs represent commissions and taxes incurred on net premium earned. Acquisition costs were $7,294 in 2011 or 20.4% of net premium earned, as compared to 20.7% in 2010. This ratio has declined slightly due to the shift away from private passenger automobile insurance which carry higher commission rates and...
65
10K
4405
1,776
First lien RMBS are generally categorized in accordance with the characteristics of the first lien mortgage loans on one-to-four family homes supporting the transactions. The collateral supporting "subprime RMBS" transactions consists of first-lien residential mortgage loans made to subprime borrowers. A "subprime borr...
184
10K
NNGroupNV-AR_2013
2,660
186 NN Group Annual Report 2013 amounts in millions of euros Share capital Share premium
15
annual_report
4961
568
2014 compared to 2013. We invest funds in the participant loss layer for several of our ART programs. We earn investment income and generate realized gains or losses, and incur an equal expense on the amounts owed to ART participants. “Expense on amounts withheld” represents both investment income and realized gains or...
81
10K
StorebrandASA-AR_2013
443
In June 2012 the Group launched a cost programme that is intended to reduce the annual costs by NOK 400 million by 2014. A number of measures have been implemented in 2013 and the effects have contributed to an improvement in financial performance during the year.
46
annual_report
de_allianz-AR_2019
1,793
We closely monitor the capital position and risk concentrations of the Group and its related undertakings and apply regular stress tests
21
annual_report
NatixisSA-AR_2008
3,992
BREAKDOWN OF AGGREGATE AMOUNTS REPRESENTED BY SECURITIZATION POSITIONS KEPT OR ACQUIRED BY RISK-WEIGHTING CATEGORY
14
annual_report
fr_axa-AR_2006
868
Stock options exercised by Claude Bébéar are options granted in 1997 and those exercised by Jacques Tabourot are options granted in 1997 and 2003.
24
annual_report
AdmiralGroupPLC-AR_2019
240
Through open debate and interactions with Group Board and senior management, employees can be confident that their views and opinions are discussed at the highest level.
26
annual_report
PhoenixGroupHoldingsPLC-AR_2013
1,113
The Company has power to enter into settlement agreements with executives and to pay compensation to settle potential legal claims. In addition, and consistent with market practice, in the event of termination of an Executive Director, the Company may pay a contribution towards the individual’s legal fees and fees for ...
91
annual_report
3848
952
NPW for this line of business decreased in 2008 compared to 2007, while it remained flat in 2007 compared to 2006. The 2008 decrease was primarily driven by: (i) lower direct voluntary new business premiums, which were $52.3 million in 2008, down $9.2 million, or 15% from 2007; and (ii) renewal pure price decreases of ...
168
10K
2621
1,005
Net investment income for the GIC Portfolio consisted of the following (in thousands):
13
10K
fr_axa-AR_2016
2,226
Net banking revenues decreased by €27 million (-7%) to €375 million.
11
annual_report
4347
1,000
Cash used in financing activities was $6.9 million in 2011, as compared with $133.8 million in 2010. The decrease in cash used in financing activities was primarily due to the redemption of preferred stock in 2010 of $125 million. The cash used in 2011 is related to the repurchase of the parent held senior exchangeable...
58
10K
RaiffeisenBankInternationalAG-AR_2015
1,894
To determine the fair value a credit value adjustment (CVA) is also necessary to reflect the counterparty risk associated with OTC derivative transactions, especially of those contractual partners with whom hedging via credit support annexes has not yet been conducted. This amount represents the respective estimated ma...
70
annual_report
5331
1,946
The aggregate intrinsic value of the Company’s outstanding and exercisable stock options and SARs at December 31, 2016 was $292.4 million and $234.0 million, respectively. The weighted average remaining contractual life of the Company’s outstanding and exercisable stock options and SARs at December 31, 2016 was 5.5 yea...
83
10K
AegonNV-AR_2013
4,558
Net interest on the net defined benefit liability (asset) 125 12 137
12
annual_report
2251
888
After-tax operating income from non-core businesses decreased $0.3 million, or 8.1% from the prior year. We continue with the orderly run-off of business in this segment.
26
10K
2341
452
The maximum amount of dividends that may be paid to State Auto Financial during 2004 by its insurance subsidiaries without prior approval under current law is limited to $52.7 million. The Company is required to notify the insurance subsidiaries' respective State Insurance Commissioner within five business days after d...
126
10K
2005
1,344
ured or reinsured accounted for more than 10% of gross premiums written from general operations in each of the three years ended December 31, 2002.
25
10K
HannoverRueckSE-AR_2011
564
In international aviation reinsurance we similarly rank among the market leaders.
11
annual_report