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NatixisSA-AR_2005
2,656
Wages and salaries (1) X.1 (734) (668) (1) of which share-based payments X.4 (3) (2) Post-retirement and other benefits X.3 (99) (84) Social security charges (224) (205) Incentive and profit-sharing plans (71) (55) Payroll-based taxes (53) (47)
37
annual_report
NatwestGroupPLC-AR_2009
4,566
(including the Local and public 2009 (including the Local and public 2008 Bank of England) government corporations Total Bank of England) government corporations Total £m £m £m £m £m £m £m £m
32
annual_report
5373
1,305
Hurricanes Harvey, Irma and Maria impacted 2017 with a total estimated net loss for the year of $67.5 million and $0.3 million in additional Net RRPs.
26
10K
4907
1,170
Financial instruments which potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents, investments and accounts receivable. The Company manages its risk by investing cash equivalents and investment securities in money market instruments and securities of the U.S. gov...
54
10K
HelvetiaHoldingAG-AR_2008
1,275
Fair value of plan assets as of 31 December 1 295.7 1 418.6 13. Employee benefits 156
17
annual_report
3904
663
The Company receives cash collateral for securities loaned in an amount generally equal to 102% of the fair value of securities and records the related obligations to return the collateral in other liabilities and accrued
35
10K
3005
1,064
(c) In November 2005, the FASB issued FASB Staff Position (“FSP”) No. FAS 115-1, “The Meaning of Other-Than-Temporary Impairment and Its Application to Certain Investments” (“FSP FAS 115-1”). FSP FAS 115-1 replaces the measurement and recognition guidance set forth in FASB Emerging Issue Task Force (“EITF”) Issue No. 0...
89
10K
BaloiseHoldingLtd-AR_2017
2,899
In our opinion the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 December 2017, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards (IF...
54
annual_report
AegonNV-AR_2011
3,946
Debt securities - carried at amortized cost 139 – – – – – – – – 139
17
annual_report
AvivaPLC-AR_2008
76
Dividend Our dividend policy remains unchanged. As a guide we use dividend cover in the 1.5 to 2.0 times range, based on IFRS operating earnings after tax and I am pleased to announce that our recommended final ordinary dividend for 2008 is 19.91 pence per share, bringing the total dividend for the year to 33.00 pence,...
64
annual_report
3510
1,103
As a result of the implementation of FIN 48, we recognized a $445 increase to liabilities for uncertain tax positions, of which the entire increase was accounted for as an adjustment to the beginning balance of retained earnings as of January 1, 2007. Including the cumulative effect increase, at the beginning of 2007, ...
159
10K
de_allianz-AR_2007
1,173
The Customer Focus initiative is a global change program designed to help Allianz Group companies create superior customer focus. We also run an internal innovation campaning which focuses on Idea Generation and Management from a bottom-up perspective, by mobilizing Allianz employees worldwide and thus lifting even mor...
54
annual_report
5465
1,426
The Company’s Board of Directors has authorized aggregate repurchases of the Company’s common stock of up to $900 million. Under the repurchase authorizations, the Company may repurchase, from time to time, common shares in amounts, at prices and at such times as the Company deems appropriate, subject to market conditi...
129
10K
4733
990
Premium revenues are recognized in the period in which eligible individuals are entitled to receive health care benefits. Health care premium payments received from its customers in advance of the service period are recorded as unearned revenues. Fully insured commercial products of U.S. health plans, and beginning in ...
153
10K
NatixisSA-AR_2016
11,338
Introduction 1 Cross-reference table 167-169 490-494 2 Terminology and risk measurement, key inputs used 16, 48-50, 88-91, 122-123, 133-136, 147-151, 3 Description of principal and/or emerging risks 17-23 112-118
29
annual_report
4911
2,598
Loss reserve development The increase or decrease in incurred losses and loss adjustment expenses as a result of the re-estimation of liability for unpaid losses and loss adjustment expenses at successive valuation dates for a given group of claims.
39
10K
NatixisSA-AR_2011
8,087
The table below shows the number and percentage of shares held as treasury shares at December 31, 2010 and December 31, 2011.
22
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2002
394
Primary insurance: We offer security for private clients and for small and medium-sized business
14
annual_report
5505
1,599
2015 QSR Transaction. Effective July 1, 2015, this transaction provides coverage on policies that were in the 2013 quota share reinsurance agreement ("2013 QSR Transaction"); additional qualifying in force policies as of the agreement effective date which either had no history of defaults, or where a single default had...
177
10K
NatwestGroupPLC-AR_2016
7,595
continues to work closely with the regulators in its efforts to fulfil its obligations under the Governance Order, which will remain in effect until terminated by the regulators.
28
annual_report
AvivaPLC-AR_2016
7,883
• Effect of capitalisation factor on regular premium longterm business PVNBP is derived from the single and regular premiums of the products sold during the financial period and is expressed at the point of sale. The PVNBP calculation is equal to total single premium sales received in the year plus the discounted value...
123
annual_report
5530
1,500
The determination of the appropriate risk-free rate and non-performance risk is sensitive to the economic and interest rate environment. Accordingly, the value of the derivative is volatile due to external market sensitivities, which may materially affect net income. Additionally, changes in the judgmental assumptions ...
57
10K
AvivaPLC-AR_2005
2,035
Provisions for claims incurred but not reported (2,324) 82 (2,242) (2,023) 86 (1,937)
13
annual_report
4807
991
Gross premiums written consist of direct premiums written and premiums assumed by SeaBright from the National Council on Compensation Insurance (or NCCI) residual market pools. Upon acquisition, SeaBright was placed into run-off and, as a result, stopped writing new insurance policies. SeaBright was renewing expiring i...
69
10K
3206
913
The Company accounts for derivative financial instruments in accordance with Statement of Financial Accounting Standards No. 133, “Accounting for Derivative Instruments and Hedging Activities, as amended by Statement of Financial Accounting Standards No. 138, Accounting for Certain Derivative Instruments and Hedging Ac...
125
10K
DirectLineInsuranceGroupPLC-AR_2020
2,358
On 3 March 2020, the Company announced the launch of a share buyback programme, which was then terminated on 19 March 2020 as a result of the volatile conditions arising from the Covid-19 pandemic. The share buyback programme had been designed to return surplus capital to shareholders and move the Group’s solvency capi...
88
annual_report
2177
519
in 2004. The actual amount of dividends paid from insurance subsidiaries to Mercury General during 2003 was $76 million. As of December 31, 2003, Mercury General also had approximately $31 million in fixed maturity securities, equity securities and cash that can be utilized to satisfy its direct holding company obligat...
50
10K
3273
509
In January 2006, the Company decided to discontinue the operations of Values Financial Network (“VFN”). We incurred insignificant costs in connection with exiting the operations.
25
10K
fr_axa-AR_2006
3,228
Reserves Reserves Reserves Others (a) Translation Undistributed Equity Group relating to relating to relating to reserve profits and share the change in the change in revaluation other reserves FV of financial FV of hedge of tangible instruments accounting assets available derivatives (cash for sale flow hedge)
46
annual_report
AvivaPLC-AR_2004
1,518
Annuities in deferment and in payment 3.0% or 4.0% GBM/V 76-80, 80-85, 85-90, 90-95, Coll 1993 and DIL 98, plus further allowance for future mortality improvement
26
annual_report
4977
2,343
The average recorded investment for commercial, agricultural and residential mortgage loans was $384 million, $201 million and $0, respectively, for the year ended December 31, 2012.
26
10K
4605
1,050
We include the impact of the embedded derivatives associated with certain of the optional living benefit features of our variable annuity contracts and related hedging activities in actual gross profits used as the basis for calculating current period amortization, including any impacts that are recorded in the reinsur...
165
10K
2249
571
The level of excess capital we generate varies in relation to our level of premium growth. At higher levels of premium growth we incur higher policy acquisition costs and therefore generate less excess capital (at very high levels of premium growth we generate the need for capital infusions). At lower levels of premium...
65
10K
4779
2,580
fixed maturity and equity securities held-for-investment by the general account to support asset and liability management strategies for certain insurance products and investments in certain separate accounts (“FVO general account securities”);
31
10K
3413
727
accident year from one maturity point to the next. We then selected appropriate age-to-age loss development factors based on these historical factors and use the selected factors to project the ultimate losses.
32
10K
PhoenixGroupHoldingsPLC-AR_2017
3,374
PUTM Bothwell Floating Rate ABS Fund Wythall1 Authorised unit trust 100.00%
11
annual_report
1690
414
The weighted-average fair value of options granted during 2000 and 1999 was $3.80 and $12.00, respectively. No options were granted in 2001.
23
10K
3511
8,648
The Company calculates benefit obligations based upon generally accepted actuarial methodologies using the PBO for pension plans and the APBO for other postretirement plans. The determination of pension costs and other postretirement obligations as of December 31 are determined using an October 31 measurement date, but...
170
10K
SwissReAG-AR_1987
251
Cash deposits with clients fell against the previous year by Sw.frs. 17.0 million to Sw.frs. 1,308.1 million. This de­ crease is also due to lower conversion rates for foreign currencies.
30
annual_report
4944
760
Below is a summary of net unrealized gains at December 31, 2014 and December 31, 2013 by category.
18
10K
gb_prudential-AR_2009
1,782
The usage of these bases of accounting has varying effects on the way in which product options and guarantees are measured. For UK regulated with-profits funds, options and guarantees are valued on a market consistent basis. The basis is described in note D2(f)(ii). For other operations a market consistent basis is not...
81
annual_report
fr_axa-AR_2014
323
AXA’s Property & Casualty segment offers a broad range of products including motor, household property and general liability insurance for both Personal and Commercial customers, targeting mainly small-to medium-sized companies. In certain countries, Health products are classifi ed as Property & Casualty products (1).
44
annual_report
TrygAS-AR_2008
2,017
The total current and deferred tax relating to items recognised in equity is recognised in the balance sheet in the amount of DKK 101m (in 2007 DKK -4m).
28
annual_report
4867
2,857
If the Company determines that it is the VIE’s “primary beneficiary” it consolidates the VIE. There are currently two models for determining whether or not the Company is the “primary beneficiary” of a VIE. The first (the “Investment Company Model”) relates to those VIEs that have the characteristics of an investment c...
136
10K
GjensidigeForsikringASA-AR_2020
915
Gunnar Robert Sellæg represents the Gjensidige Foundation and is independent of key employees and main business partners.
17
annual_report
1560
601
The Insurance Companies are subject to the financial capacity guidelines established by the Office of the Commissioner of Insurance of their domiciliary states. The payment of dividends from statutory unassigned surplus of the Insurance Companies is restricted, subject to certain statutory limitations. For the year 200...
118
10K
5958
4,923
•Short-term: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads.
29
10K
fr_axa-AR_2017
2,799
■ Transversal and C entral H oldings: 8% of Group assets at the end of 2017 (8% in 2016): AXA Corporate Solutions Assurance
23
annual_report
3157
985
The aggregate intrinsic value of options outstanding at December 31, 2006 was $21.2 million. The aggregate intrinsic value of options exercisable was $11.7 million. The aggregate intrinsic value represents the total pre-tax intrinsic value based on the Company’s closing stock price of $62.54 as of December 31, 2006 whi...
67
10K
5672
1,490
On March 17, 2016, pursuant to the Program, the compensation committee approved provisional cash awards of $17.4 million in the aggregate for future grants to our officers and key employees that are denominated in units (397,000 units in the aggregate), each of which was equivalent to the value of one share of our comm...
122
10K
4667
1,506
The table above does not include financial instruments that are measured using unobservable inputs (Level 3) where the unobservable inputs were obtained from external sources and used without adjustment. These financial instruments include mortality bonds (included within corporate fixed maturities), mutual fund invest...
55
10K
NatwestGroupPLC-AR_2014
8,478
Cash and cash equivalents at 31 December 15 1,105 1,345 997
11
annual_report
BeazleyPLC-AR_2015
1,660
In 2015, the group managed its foreign exchange risk by periodically assessing its non-dollar exposures and hedging these to a tolerable level while targeting to have net assets that are predominantly denominated in US dollar. As part of this hedging strategy, exchange rate derivatives were used to rebalance currency e...
94
annual_report
3577
2,768
In general, our businesses are subject to a changing social, economic, legal, legislative and regulatory environment that could materially affect them. Some of the changes include initiatives to restrict insurance pricing and the application of underwriting standards and reinterpretations of insurance contracts long af...
52
10K
4298
1,049
TRH believes its most critical accounting estimates are those with respect to loss reserves, fair value measurements of certain financial assets, other-than-temporary impairments ("OTTI") of investments and premium revenues, as they require management's most significant exercise of judgment on both a quantitative and q...
99
10K
AvivaPLC-AR_2006
3,181
EEV methodology continued Risk discount rates Under the EEV methodology, a risk discount rate (RDR) is required to express a stream of expected future distributable profits as a single value at a particular date (the present value). It is the interest rate that an investment equal to the present value would have to ear...
130
annual_report
5516
2,421
Genworth Australia, our indirect subsidiary and a public company, grants stock options and other equity-based awards to its Australian employees. The following table summarizes the status of Genworth Australia’s restricted share rights and long-term incentive plan as of December 31, 2018 and 2017:
43
10K
4975
488
For workers' compensation, since many years will pass from the time the business is written until all claim payments have been made, claim cost inflation on claim payments is the most significant factor affecting workers' compensation reserve estimates. Workers' compensation claim cost inflation is driven by the cost o...
150
10K
4864
1,713
As of December 31, 2014 and 2013, the Company had an additional $2.8 billion and $2.8 billion of fixed maturities, $21.5 million and $21.2 million of equity securities, and $95.1 million and $52.4 million of short-term investments classified as trading securities, respectively.
42
10K
3788
1,153
Aflac Japan’s policy liabilities increased 6.1% in yen during the year ended December 31, 2008.
15
10K
5703
1,382
on behalf of these investments; however, we are contractually committed to make additional investments up to the remaining commitment outlined above. We have not provided any non-contractual financial support at any time during 2019 or 2018.
36
10K
5324
654
Policy acquisition costs increased to $57.2 million for the year ended December 31, 2015 from $36.5 million for the year ended December 31, 2014. The increase is primarily attributable to the significant increase in new and renewed policies, which have associated commissions and administration fees paid to outside agen...
115
10K
RSAInsuranceGroupPLC-AR_2015
1,900
5. We have nothing to report on the disclosures of principal risks Based on the knowledge we acquired during our audit, we have nothing material to add or draw attention to in relation to: • the Directors’ Viability Statement on page 94, concerning the principal risks, their management, and, based on that, the Director...
70
annual_report
2110
873
The results of operations of discontinued operations for the years ended December 31 are as follows:
16
10K
5163
813
Deferred revenue includes deferred technology licensing implementation fees and amounts billed for deliverables in multiple element arrangements that do not have stand-alone value from other, undelivered elements as well as amounts billed or collected from sponsorship or technology licensing customers in advance of our...
105
10K
5935
1,168
The following is a maturity analysis of the annual undiscounted cash flows of the operating and finance lease liabilities as of December 31, 2020:
24
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2003
1,822
31.12.2003 31.12.2003 31.12.2003 Prev. year Prev. year Prev. year All figures in €m Gross Ceded Net Gross Ceded Net
19
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_1999
137
Mr. Clement Booth (45), who had worked for the Munich Re organization in South Africa in senior positions since 1986, has been a member of the Board of Management since 1st January 1999. With effect from 1st January 2000 we appointed Dr. Nikolaus Bomhard (43) a member of the Board of Management. He has been with the co...
155
annual_report
4693
1,782
On November 13, 2012, ING, all participating ING U.S., Inc. subsidiaries, including the Company, ING Support Holding and ING Bank entered into restructuring arrangements with the Dutch State, which closed the following day (the "Termination Agreement"). Pursuant to the restructuring transaction, the Company sold the Du...
138
10K
4093
1,296
At December 31, 2009, all fixed maturity securities were classified as held-to-maturity and carried at amortized cost.
17
10K
BaloiseHoldingLtd-AR_2007
3,918
Sach by virtue of an organisational agreement, and thus constitutes a related party partner company. The amount of the transactions concerned is insignifi cant both individually and in total for
30
annual_report
4500
1,959
Many of our insurance products sold in international markets provide for the buildup of cash values for the policyholder at mandated guaranteed interest rates. Authorities in some jurisdictions regulate interest rates guaranteed in our insurance contracts. The regulated guaranteed interest rates do not necessarily matc...
140
10K
StorebrandASA-AR_2015
1,846
1) Storebrand has reduced the exposure to property in its customer portfolios in recent years. In order to enhance the efficiency of the operations and improve the risk management for the remaining property exposure, Storebrand Eiendom Holding AS was dissolved in December 2015. Since the shares owned by the customer po...
77
annual_report
ScorSE-AR_2015
3,679
SCOR has in place a group anti-bribery policy which stipulates explicitly a zero-tolerance policy with respect to giving and receiving of bribery, including making of illegal facilitation payments and gives guidance on prohibitions, key principles and requirements regarding (i) gifts, entertainment and hospitality, (ii...
110
annual_report
5189
643
Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilitie...
98
10K
2978
856
In September 2005, the American Institute of Certified Public Accountants (“AICPA”) released Statement of Position 05-1, Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection with Modifications or Exchanges of Insurance Contracts (“SOP 05-1”). SOP 05-1 requires identification of transactions ...
115
10K
fr_axa-AR_2001
2,418
• In addition, the Committee examines proposals to increase the number of non-French members and to reduce the overall number of the Supervisory Board members.
25
annual_report
3400
1,184
requires an employer to measure the funded status of a plan as of the date of its year-end statement of financial position. SFAS No. 158 is effective for fiscal years ending after December 15, 2006 and therefore PLC and the Company has adopted this standard as of December 31, 2006. This standard was adopted prospective...
105
10K
nl_ing_grp-AR_2018
3,368
(excluding trading) include fair value adjustments on own issued notes amounting to EUR 302 million (2017: EUR -107 million; 2016: EUR -70 million). DVA adjustment on own issued notes is no longer included in Valuation results (2017: EUR -79 million; 2016: EUR -50 million). In 2018, in accordance with IFRS 9, the DVA a...
62
annual_report
4051
2,918
specified criteria are met. A business classified as held for sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. Depreciation is not recorded on assets of a business classified as ...
105
10K
3775
523
For approximately 10 years prior to mid-2005, we entered into reinsurance contracts in which we ceded a significant percentage, generally 90%, of our newly written business on a first dollar quota share basis. Our traditional life insurance was ceded under coinsurance contracts and universal life insurance was ceded un...
100
10K
RSAInsuranceGroupPLC-AR_2018
3,137
During the period RSA has entered into an agreement to make a contribution of £15m to Enstar Group Limited, which is contingent upon Court approval of the completion of the Part VII legal transfer of the UK Legacy business.
39
annual_report
LloydsBankingGroupPLC-AR_2003
2,267
Other post-retirement costs include a liability of £87 million (2002: £83 million) in respect of post-retirement healthcare.
17
annual_report
HelvetiaHoldingAG-AR_2016
456
Successful Shareholders’ Meeting in 2016 The Helvetia Group once again presented a very good annual result to the 1,820 shareholders with voting rights attending the Ordinary Shareholders’ Meeting. The Shareholders’ Meeting took note of the strong operating performance in challenging market conditions and approved the ...
91
annual_report
NatixisSA-AR_2016
9,365
in Paris, where there was also a donation counter on display of the funds raised by Natixis for the Gustave Roussy research mustaches to show their support and taking part in quizzes. They also attended fun workshops held at two different venues employees to take action. Employees participated actively on the Company s...
75
annual_report
4374
1,161
(b) The components of comprehensive income (loss), both gross and net of tax, for 2011, 2010, and 2009 were as follows:
21
10K
PowszechnyZakladUbezpieczenSA-AR_2020
2,876
In 2020, the PZU Group companies subject to consolidation did not grant any loans or similar benefits to members of their management boards, higher level managers or members of their supervisory boards.
32
annual_report
AdmiralGroupPLC-AR_2019
913
It’s also worth noting that the level of conservatism in the reserves (we usually think of it in terms of the margin above best estimate in percentage terms) is unchanged year-on-year. We were expecting it to reduce somewhat at 2019 year end, but the scale and nature of the positive moves on the back years has led us t...
73
annual_report
2861
1,648
Lines of business where claims are typically reported relatively quickly after the claim event tend to display lower levels of volatility between initial estimates and final outcomes. For reinsurance lines of business, a higher proportion of initial reserves is statistically based IBNR due to longer reporting delays be...
149
10K
4064
1,454
The following table provides a reconciliation of the beginning and ending reserve for the Company’s property and casualty unpaid losses and LAE.
22
10K
5855
1,343
Other current assets consist primarily of prepaid expenses, accrued investment income and the current portion of reinsurance recoverables. Other non-current assets consist primarily of GMIB assets, operating lease right-of-use assets and various other insurance-related assets. See Note 10 for the Company’s accounting p...
81
10K
5516
1,060
Select sensitivities for persistency, long-term interest rates and mortality are more fully discussed under “-Insurance liabilities and reserves-Policyholder account balances” below.
21
10K
651
379
The Company has received correspondence from and conducted discussions w i th various state insurance departments concerning the surplus relief reinsurance agreements, capital levels and unprofitable operations of certain of the Company s insurance subsidiaries. These insurance departments have indicated their expectat...
110
10K
HannoverRueckSE-AR_2015
489
The development of group and health business in the Middle East gave grounds for satisfaction in the year under review. In the United Kingdom, too, our business fared well despite an extremely competitive environment. In Asian markets we noted stronger demand for critical illness covers.
45
annual_report
AdmiralGroupPLC-AR_2008
291
Underwriting arrangements for Balumba, AdmiralDirekt and ConTe are similar, with the Munich Re Group underwriting 65% of the risks in each. Admiral retains the remaining 35%.
26
annual_report
5516
1,223
Our U.S. Mortgage Insurance segment decreased $53 million primarily due to favorable net cures and aging of existing delinquencies, lower new delinquencies and from a $5 million higher favorable reserve adjustment in 2017. These decreases were partially offset by approximately $5 million of losses attributable to new d...
58
10K
SwissReAG-AR_1984
513
Cash deposits: A sum left by the ->• reinsurer in the hands of the ceding company to guarantee contractual liabilities.
20
annual_report
4727
3,050
On October 25, 2013, Indemnity amended its revolving credit facility to extend the maturity date, lower the borrowing costs, and eliminate the minimum net worth financial covenant. As of December 31, 2013, Indemnity has access to a $100 million bank revolving line of credit with a $25 million letter of credit sublimit ...
155
10K
2915
629
The consolidated medical care ratio decreased from 81.4% in 2003 to 80.6% in 2004. Excluding the AARP business, the medical care ratio decreased from 80.0% in 2003 to 79.5% in 2004. The medical care ratio decrease resulted primarily from net premium rate increases that slightly exceeded overall medical benefit cost inc...
59
10K
4698
1,860
statutory income and surplus. In general, dividends up to specified levels are considered ordinary and may be paid without prior approval. Dividends in larger amounts, or “extraordinary” dividends, are subject to approval by the insurance commissioner of the state of domicile of the insurance subsidiary proposing to pa...
50
10K