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INGGroepNV-AR_2020
5,935
ING Group minimises counterparty credit risk in derivative instruments by clearing most of the derivatives through Central Clearing Counterparties. In addition ING Group only enters into transactions with high-quality counterparties and requires posting collateral.
34
annual_report
StorebrandASA-AR_2015
2,180
The Storebrand Group is a cross-sectoral financial group with capital requirements pursuant to Basel I/II (capital cover) and capital adequacy rules on a consolidated basis. According to the rules on solvency, margin requirements are calculated for the insurance companies in the Group, while for the other companies a c...
82
annual_report
4637
5,183
For our nonqualified pension plans, we fund the benefits as they become due to retirees. The amount expected to be contributed to the nonqualified pension plans during 2013 is approximately $10 million.
32
10K
AvivaPLC-AR_2002
1,064
Share of result for the year after tax 29 – Unrealised investment gains after tax 72 – Dividends received (27) – Additions 707 –
24
annual_report
de_allianz-AR_2016
2,093
An increase of pre-retirement benefit assumptions (e.g. salary increase) of 25 basis points would have an effect of € 71 Mn on the defined benefit obligation. However, the increase of post-retirement assumptions (e.g. inflation-linked increases of pension payments) of 25 basis points would affect the defined benefit ob...
52
annual_report
3928
1,583
of investment returns from this consolidated portfolio are allocated to our corporate function for the purposes of segment reporting. The investment returns for our strategic private equity reinsurance investment are allocated entirely to the corporate function.
36
10K
NNGroupNV-AR_2020
1,594
Engagement survey A questionnaire measuring how a company’s brand and values are experienced by its employees, how its leaders live up to the standards the company sets, and how the company fulfils its employee value proposition as an organisation.
39
annual_report
TrygAS-AR_2007
1,490
For outstanding options at 31 December 2007, the average term to maturity is 2.2 years and 3.2 years.
18
annual_report
PowszechnyZakladUbezpieczenSA-AR_2019
1,780
,,0 35,000 p ts 40,000 p ts 45,000 p ts 50,000 p ts 55,000 p ts 60,000 p ts 65,000 p ts 70,000 p ts
25
annual_report
ch_zurich_insurance_group-AR_2007
2,668
Aging analysis of financial assets The table below provides an aging analysis of financial assets.
15
annual_report
3057
1,288
On January 1, 2004, the Company adopted SOP 03-1. The major provisions of SOP 03-1 that affect the Company require:
20
10K
3318
1,436
liability for unrecognized tax benefits in 2007 associated with the provisions of FIN No. 48. However, due to the high degree of uncertainty regarding the timing of future cash outflows associated with some of our FIN No. 48 liabilities, we cannot make a reasonably reliable estimate of the period of cash settlement for...
63
10K
GjensidigeForsikringASA-AR_2014
890
The Board wishes to thank all employees for their efforts and their contribution to Gjensidige’s good results in 2014.
19
annual_report
4866
1,216
For 2015, we expect Assurant Specialty Property net income and net earned premiums to decrease compared with Twelve Months 2014, reflecting continued normalization of lender-placed insurance business, the previously announced loss of client business and the sale of ARIC. Contributions from multi-family housing and mort...
60
10K
de_allianz-AR_2009
1,607
In the normal course of the business, the Allianz Group may enter into arrangements that do not lead to the recognition of assets and liabilities in the consolidated financial state­ ments under IFRS. The reason is that the Allianz Group does not substantially bear all the risks and rewards associated with these arrang...
173
annual_report
5777
2,167
The following tables present the fair value of the Company’s available-for-sale portfolio of obligations of state and political subdivisions as of December 31, 2019 and December 31, 2018 by state.
30
10K
5737
3,966
The Company derives its revenues principally from: (1) premiums earned for insurance coverages provided to insureds; (2) net investment income; and (3) net realized capital gains and losses.
28
10K
4608
370
Consolidated investment yields were 3.3% for the years ended December 31, 2012 and 2011.
14
10K
INGGroepNV-AR_2009
479
lEASING & COMMERCIAl FINANCE IMPACtEd Leasing & Commercial Finance experienced a decline in earnings due to weak economic conditions that resulted in lower profits on the sale of leased assets and increased residual value provisioning, and an increase in risk costs. Expenses decreased as a result of cost-containment me...
76
annual_report
gb_prudential-AR_2010
2,780
Net cash inflow (outflow) from operating activities 4,050 (1,295) 2,755 Realised losses in the year – (529) (529) Unrealised gains and losses and exchange movements in the year 2,051 (470) 1,581
31
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2010
142
is it a mission to explore for natural resources? Some of your colleagues reckon there are valuable raw materials out there in space. no, the primary purpose of this mission is purely scientific. Are comets made of ice or rock? And what do they tell us about the prehistory of our solar system? We are still a long way f...
65
annual_report
4154
494
(ii) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE.
34
10K
fr_axa-AR_2018
3,338
(g) Includes equity instruments held directly or by consolidated investment funds as well as non consolidated investment funds. (h) Includes sales/purchases of assets backing insurance & investment contracts where the financial risk is borne by policyholders. (i) Includes net cash impact of interest margin relating to ...
58
annual_report
5624
1,459
Risks related to the reserves recorded for certain discontinued individual life, annuity, and long-term care insurance policies have been fully ceded via reinsurance. While we have not been released from our contractual obligation to the policyholders, changes in and deviations from economic, mortality, morbidity, and ...
71
10K
NatixisSA-AR_2007
9,202
In the event of Urgent Business, the time limits for convening and conducting meetings of the Supervisory Board shall not be subject to Article 16 above, on condition that the Chairman of the Supervisory Board of the Company has: fi rst sent a notice to the members of the Supervisory Board justifying the existence of t...
94
annual_report
4133
1,783
In November 2007, we entered into an $800 million five-year senior credit facility (the “Credit Facility”) with a syndication of lenders. The Credit Facility consists of a $400 million secured letter of credit facility for the issuance of standby letters of credit (the “Secured Facility”) and a $400 million unsecured f...
123
10K
2695
2,420
Insurance Division. The Insurance division consists of the Individual Life and Annuities and Group Insurance segments. The Individual Life and Annuities segment manufactures and distributes individual variable life, term life, universal life, non-participating whole life insurance, and variable and fixed annuity produc...
91
10K
4147
1,838
In the following segment financial data, “operating revenue” excludes net realized investment gains and losses. “Operating income” or “operating loss” excludes net realized investment gains and losses, income tax, and results of discontinued operations. These are considered non-GAAP financial measures. These non-GAAP f...
158
10K
2332
667
Assumed written and earned premium increased primarily due to an increase in mandatory pool assumptions.
15
10K
1726
720
An analysis of the operating results summarized above is included on the following pages. Reserves, Environmental and Asbestos Claims, and Investments are discussed in separate sections.
26
10K
4199
1,908
during 2010 was $56 million (2009: $57 million; 2008: $24 million). At December 31, 2010, we had 3,882 (2009: 4,555) nonvested restricted stocks outstanding with $61 million (2010: $63 million) of unrecognized compensation cost. These are expected to be recognized over the weighted average period of 2.6 years (2009: 2....
51
10K
3461
946
Effective January 1, 2006, the Company adopted SFAS No. 123 (revised 2004), “Share-Based Payment” (“SFAS No. 123R”), using the modified prospective transition method and therefore has not restated results from
30
10K
1406
606
The terms of the State Settlement Agreements require significant payments to be made to the Settling States which began in 1998 and continue in perpetuity. See Note 17 of the Notes to Consolidated Financial Statements for additional information regarding this settlement and other litigation matters.
45
10K
5594
3,898
Investment gains (losses) on assets supporting experience-rated contractholder liabilities and changes in experience-rated contractholder liabilities due to asset value changes
20
10K
4503
1,077
Corporate and Other Distributed Products Segment Pro Forma Results. Corporate and Other Distributed Products segment pro forma results give effect to the reorganization transactions, which are described more fully in Note 3 to our pro forma statement of income. On a pro forma basis, Corporate and Other Distributed Prod...
54
10K
2038
383
Operating expenses of the segments exclude $11.9 million and $2.4 million in corporate overhead that was not allocated by management in assessing segment performance for the years ended December 31, 2002 and 2001, respectively.
34
10K
1774
845
We used the following weighted average assumptions to calculate benefit obligations for our 2001 and 2000 valuations: discount rate of approximately 6.8 percent and 7.1 percent, respectively; an expected return on plan assets of approximately 8.5 percent and 8.4 percent, respectively. Beginning in 2000, as a result of ...
123
10K
BaloiseHoldingLtd-AR_2015
2,186
Financial assets with characteristics of equity – – 4,698.1 4,443.3 0.7 – 670.9 1,173.8 5,369.7 5,617.1
16
annual_report
3588
1,260
In management's judgment, the total deferred income tax asset is more likely than not of being realized. Included in the deferred income tax asset is the expected income tax benefit attributable to net operating losses. Domestic state net operating loss carryforwards were $367.5 million as of December 31, 2007, and wil...
266
10K
1684
420
As previously discussed, during 1999 the Company recognized $310.6 million of before-tax expenses related to the merger and the early retirement offer to employees. These expenses are as follows (in millions of dollars):
33
10K
2755
6,656
The Rue Agency placed insurance coverage for Selective with non-Selective insurance companies for which the Rue Agency was paid commission pursuant to its agreements with those carriers. Selective paid premiums for such insurance coverage of $0.6 million in 2005, $1.4 million in 2004, and $1.3 million in 2003.
48
10K
ch_zurich_insurance_group-AR_2010
1,229
• The market risk scenarios assume a concurrent movement of all stock markets and all property markets, and an unrelated parallel shift of all interest rates in different currencies.
29
annual_report
4025
1,870
The Company has evaluated subsequent events thru to the date the financial statements were available to be issued. The following events have occurred subsequent to December 31, 2009 thru to the financial statements becoming available to be issued.
38
10K
NatixisSA-AR_2019
9,458
Provisions for impairment deducted from assets (1,435) (678) 670 (15) 38 (1,420)
12
annual_report
2202
1,539
At December 31, 2003 and 2002, the Closed Block had restructured mortgage loans of $4.7 million and $8.5 million, respectively. Interest income of $0.4 million and $0.6 million was recognized on such loans for the year ended December 31, 2003 and 2002, respectively. Gross interest income on these loans that would have ...
75
10K
5898
838
Our 4% increase in 2020 agency renewal written premiums included higher average pricing. We measure average changes in commercial lines renewal pricing as the rate of change in renewal premium for the new policy period compared with the premium for the expiring policy period, assuming no change in the level of insured ...
151
10K
PosteItalianeSpA-AR_2020
356
Digital asset management company, specialised in ETF (Exchange Traded Funds) portfolios.
11
annual_report
SwissReAG-AR_2020
6,107
• Build We understand, develop and build the capabilities to win in the future. We embrace continuous learning and growth to make each one of us more resilient. We have a strong employer brand and can attract the talent we need.
41
annual_report
2539
457
We enter into performance guarantees with employer groups where we pledge that we will meet certain standards. These standards vary widely and could involve customer service, member satisfaction, claims processing, claims accuracy, telephone on-hold time, etc. Under these performance guarantees, we could be at risk and...
135
10K
1186
596
The provision for income taxes decreased $84.5 million, or 53.9%, to $72.4 million for the year ended December 31, 1998. The decline was primarily due to the effect of the private letter ruling received from the IRS in September 1998, which resulted in a decrease in income tax expense of $85.5 million. (See Note 8 to t...
83
10K
1833
187
The Company believes that its cash and investments combined with internally generated funds will be sufficient to meet its present and reasonably foreseeable operating and capital requirements. Consequently, borrowing funds from external sources is not anticipated. The Company does, however, maintain a $5,000,000 secur...
71
10K
2680
635
Monthly, we estimate our IBNR based on a number of factors, including prior claims experience and authorization data. Authorization data is information captured in our medical management system, which identifies services requested by providers or members. The medical cost related to these authorizations is estimated by...
175
10K
4911
1,992
Our risk governance structure fosters the development and maintenance of a risk and control culture that encompasses all significant risk categories. Accountability for the implementation and oversight of risk policies is aligned with individual corporate executives, with the risk committees receiving regular reports r...
90
10K
4322
366
The Company’s business is subject to concentration of risk with respect to geographic concentration. Although the Company’s operating subsidiaries are licensed collectively in 40 states, direct premiums written for two states, New Jersey and Pennsylvania, accounted for almost 20% of the Company’s direct premiums writte...
70
10K
4703
1,913
Net investment income for the three months ended December 31, 2013 was $19.6 million compared to $23.8 million for the three months ended December 31, 2012, a decrease of $4.2 million, or 17.8%.
33
10K
SwissReAG-AR_2017
1,943
As of 1 April 2018, the Group EC will consist of 12 members, whereas it is composed of 13 members up to March 2018.
24
annual_report
BaloiseHoldingLtd-AR_2013
380
ECOLOGY ������������������������������������������������������������������������������������������������������ 42 Protecting the environment over the long term ����������������������� 42
12
annual_report
4919
1,100
The following table provides a summary of the changes in fair value of our Level 3 securities for 2014:
19
10K
DirectLineInsuranceGroupPLC-AR_2018
2,623
Accumulated amortisation and impairment At 1 January 2017 – 272.3 272.3 Charge for the year – 54.1 54.1 Impairment losses2 – 56.9 56.9
23
annual_report
2073
299
We are not aware of any other current recommendations by the National Association of Insurance Commissioners or other regulatory authorities in the states in which we conduct business that, if or when implemented, would have a material effect on our liquidity, capital resources or operations.
45
10K
HannoverRueckSE-AR_2010
985
The insights obtained establish a framework for decisionmaking on all management levels by bringing transparency to the relationship between opportunities and risks.
22
annual_report
4559
1,131
The portion of other comprehensive income that is expected to be reflected in pension expense in 2013 is as follows:
20
10K
AegonNV-AR_2012
3,160
Aegon is not relieved of its legal liabilities when entering into reinsurance transactions, therefore the reserves relating to the underlying reinsured contracts will continue to be reported on the consolidated statement of financial position during the run-off period of the underlying business.
42
annual_report
2377
450
Personal Auto Lines Results. The following table presents the components of our personal auto lines underwriting profit or loss and the components of the combined ratio for the past three years:
31
10K
AegonNV-AR_2012
2,284
Recurring items on the agenda in 2012 were the quarterly risk dashboard and the Board risk list. The Risk Committee discussed other topics, such as information security, the eurocrisis management plan and developments in the investment portfolio.
37
annual_report
AdmiralGroupPLC-AR_2011
333
Success in delivering against the strategy is measured against a large number of key performance indicators which are common across the UK and international businesses. These include market share, quote volumes, conversion rates, sales volumes, income per sale, revenue per customer and cost per sale.
45
annual_report
2969
1,130
On March 21, 2006, the Board of Directors of National Atlantic Holdings Corporation (NAHC) approved the Compensation Committee’s recommendation to grant 343,000 stock appreciation rights (SARS) to the executive
29
10K
gb_lloyds_banking_grp-AR_2012
4,928
– pursuant to the rules of some of the company’s employee share plans where certain restrictions may apply while the shares are subject to the plans.
26
annual_report
4219
1,523
In June of 2008, the Company disposed of its entire ownership interest in its wholly owned subsidiary, Lorillard, Inc. (“Lorillard”). The Consolidated Financial Statements have been reclassified to reflect Lorillard as a discontinued operation. Accordingly, Lorillard’s revenues, expenses and cash flows have been exclud...
75
10K
AegonNV-AR_2009
3,827
The other countries mostly operate defined contribution plans, with the exception of smaller defined benefit plans in AEGON
18
annual_report
de_allianz-AR_2008
1,328
� 78.5 billion, repurchase agreements for � 24.3 billion, term deposits and certificates of deposit for � 45.9 bil lion, collaterals received from securities lending transactions for � 5.9 billion and savings deposits for � 3.4 billion.
37
annual_report
GjensidigeForsikringASA-AR_2018
1,205
Notes 1. Accounting policies ...............................................145 2. Use of estimates ...................................................152 3. Risk and capital management ..............................152 4. Premiums and claims etc. in general insurance ......153 5. Shares in subsidiaries and joint ventu...
115
annual_report
3584
2,249
DAC related to SFAS No. 60 traditional life reinsurance contracts is amortized over the entire premium paying period in proportion to the present value of expected future gross premiums. The present value of expected future gross premiums is based upon the premium requirement of each policy and assumptions for mortalit...
136
10K
INGGroepNV-AR_2014
2,353
ING Group 126 Consolidated annual accounts Notes to the consolidated annual accounts of ING Group continued
16
annual_report
3161
850
PMI’s risk-to-capital ratio would equal or exceed 23 to 1. As of December 31, 2006, PMI’s risk-to-capital ratio was 8.1 to 1 compared to 8.2 to 1 at December 31, 2005 and 8.2 to 1 at December 31, 2004.
39
10K
3876
770
Reinsurance ceded declined $1.4 million to $53.6 million in 2008 from $55.0 million in 2007. In 2006, reinsurance ceded was $55.2 million. The Company uses reinsurance as a means to mitigate its risks and to reduce the earnings volatility from claims.
41
10K
5642
633
During the years ended December 31, 2018 and December 31, 2017, some changes in operating assets and liabilities were significantly impacted by catastrophe losses associated with Hurricanes Florence and Michael in 2018, and Hurricanes Harvey and Irma in 2017. Unpaid losses and LAE increased significantly during the per...
113
10K
5857
550
2019 compared to 2018-Revenue from our Senior segment was $192.3 million for the year ended June 30, 2019, an $89.8 million, or 88%, increase compared to revenue of $102.4 million for the year ended June 30, 2018. The increase was primarily due to a $76.9 million increase in commission revenue and a $13.0 million incre...
102
10K
659
272
As an indirect subsidiary of Prudential, the Company benefits from the risk management strategies implemented by Prudential.
17
10K
4607
1,254
The Company had net realized investment gains of $25.5 million for the year ended December 31, 2012 compared to gains of $9.4 million in 2011. OTTI losses recorded in earnings for the year ended December 31, 2012 were $9.6 million, an increase from $3.2 million of OTTI losses recorded for 2011. $8.3 million of the 2012...
142
10K
5591
888
We expect growth in the property segment in 2019, but at a slower pace than in 2018. Industry catastrophe activity was elevated for the second consecutive year. Industry pricing has not increased materially, but this remains a distinct possibility as such losses have historically served as a potential catalyst for impr...
88
10K
PosteItalianeSpA-AR_2020
6,546
This category of financial asset includes fixed rate instruments, for a total nominal amount of €3,000 million, issued by Cassa Depositi e Prestiti SpA and guaranteed by the Italian government (at 31 December 2020, their carrying amount totals €3,300 million).
40
annual_report
3010
1,348
Interest expense increased by $11.5 million, or 35%, for the year ended December 31, 2005 as compared to the same period in 2004. A $4.5 million increase in interest expense resulted primarily from a 150 basis point increase in the interest rate on our senior notes due to the downgrade of our senior unsecured debt rati...
80
10K
INGGroepNV-AR_2017
5,509
Common Reporting Standard (CRS) Similarly, the Organisation for Economic Cooperation and Development (‘OECD’) has developed a Common Reporting Standard (‘CRS’) and model competent authority agreement to enable the multilateral and automatic exchange of financial account information. CRS requires financial institutions ...
139
annual_report
NatixisSA-AR_2014
7,887
NATIXIS FUNDING UK Cannon Bridge House – 25 Dowgate Hill London EC4R 2YA 225,514 USD 0 USD 100.00%
18
annual_report
3596
1,059
The results of operations and financial position of the entities acquired during any year are included in the Consolidated Financial Statements from and after the date of acquisition. Based on the Company’s valuation, any differences between the fair value of the identifiable assets and liabilities and the purchase pri...
86
10K
NatixisSA-AR_2018
144
At December 31, 2018, BPCE held 70.70% of the share capital of Natixis (70.78% of voting rights) (see Section 1.2.2 Financial solidarity mechanism). The structure of Groupe BPCE at December 31, 2018 was as follows: NATIXIS
36
annual_report
5246
1,682
The assumptions used in calculating the estimated future benefit payments are the same as those used to measure the benefit obligation for the year ended December 31, 2016.
28
10K
fr_axa-AR_2001
2,575
The following diagram sets forth the ownership structure of the Company at March 19, 2002 (numbers in parenthesis represent the percentage of total voting power held while numbers not in parenthesis represent the percentage of total outstanding shares held): MUTUELLES AXA
41
annual_report
5471
1,101
The perpetual securities the Company holds were largely issued by banks that are integral to the financial markets of the sovereign country of the issuer. As a result of the issuer's position within the economy of the sovereign country, the Company's perpetual securities may be subject to a higher risk of nationalizati...
167
10K
2871
974
the underlying mortgage loans experience prepayments within certain estimated ranges. Changes in prepayment rates are first absorbed by support or companion classes. This insulates the timing of receipt of cash flows from the consequences of both faster prepayments (average life shortening) and slower prepayments (aver...
47
10K
4262
394
Net Investment Income. Net investment income decreased $659,000 from 2008 to 2009. The investment yields were 4.6% 2009 and 5.3% for 2008. The lower yield is due to an increase in more liquid assets which bear lower interest rates.
39
10K
AvivaPLC-AR_2018
1,917
How we tailored the audit scope We tailored the scope of our audit to ensure that we performed sufficient work to be able to give an opinion on the financial statements as a whole, taking into account the structure of the Group and the Company, the financial reporting process and controls, and the industry in which the...
58
annual_report
1958
549
• An additional five basis points were added to the risk free rates for foreign investments.
16
10K
CNPAssurancesSA-AR_2009
518
Post-graduate degree in economics, graduate of HEC, Institut d’études politiques de Paris and École nationale d’administration.
16
annual_report
1458
235
MNH, like many other property and casualty insurance companies, is subject to environmental damage claims asserted by or against its insureds. Management of the Company is of the opinion that based on various court decisions throughout the country, such claims should not be recoverable under the terms of MNH's insuranc...
116
10K
PhoenixGroupHoldingsPLC-AR_2010
1,900
Transactions with pension schemes During the year the Group entered into the following transactions with its pension schemes: transactions 2010 £m
21
annual_report
4557
3,238
The following table presents the amount and location of gains (losses) recognized in income for derivatives that were not designated or qualifying as hedging instruments:
25
10K
INGGroepNV-AR_2019
3,298
Interbank offered rates, such as Euribor and Libor, are widely used as benchmarks to set interest rates across a broad range of financial products and contracts. The financial markets are going through a significant reform and financial institutions are obligated to implement a replacement of these major interest rate ...
59
annual_report
nl_ing_grp-AR_2011
3,829
– Operational Risk Committee Oversees all non-financial risk issues across ING Insurance US. This includes operational, compliance, legal and reputation risk. Responsible for preparation/pre-approval of non-financial risk items, oversight on non-financial risk issues, and deciding on reported risks and proposed accepte...
42
annual_report