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GjensidigeForsikringASA-AR_2012
992
Amortisation Intangible assets, other than goodwill is amortised on a straight-line basis over the estimated useful life, from the date that they are available for use. The estimated useful lives for the current and comparative periods are as follows • customer relationships 10 years • trademarks 10 years • internally ...
60
annual_report
PosteItalianeSpA-AR_2015
120
PosteTutela SpA offers secure funds logistics services (transport, escort, custody, currency counts), fixed and mobile security, as well as all types of surveillance and protection of sensitive data. These services are provided to Poste Italiane's operating units and customers outside the Group, for whom it primarily c...
54
annual_report
4245
1,034
DPAC decreased $0.4 million, or 4.7%, to $7.9 million as of December 31, 2010, compared with $8.3 million as of December 31, 2009. The change is due to decreased homeowners’ and commercial general liability written and unearned premium.
38
10K
3181
1,472
Contractual provisions exist that could increase or accelerate those obligations presented. The amounts presented include contractual principal and interest based on stated rates in effect at December 31, 2006.
29
10K
fr_axa-AR_2005
4,117
AXA sells insurance contracts that contain a variety of options and guarantees for contractholders. These features are described in Financial and Insurance Risk Manangement section. These features are not embedded derivatives which AXA reports at fair value because: – many of the features would be considered clearly an...
66
annual_report
gb_prudential-AR_2006
1,008
in Malaysia and successfully launching its first linked product in November.
11
annual_report
BaloiseHoldingLtd-AR_2013
2,557
No deferred tax assets had been recognised on tax loss carryforwards amounting to CHF 481.8 million as at 31 December 2013 (2012: CHF 563.6 million) because the relevant offsetting criteria had not been met. Of this total, CHF 1.8 million will expire after one year, a further CHF 11.3 million will expire after two to f...
68
annual_report
de_allianz-AR_2009
2,253
Significant non-cash transactions Settlement of exchangeable bonds issued by Allianz Finance II B.V. with shares
15
annual_report
ScorSE-AR_2013
1,908
CFO of SCOR Group in October 2012 and in May 2013 became Group Chief Financial Officer.
16
annual_report
1692
495
Net realized losses on investments in 2001 included losses related to a write-down of certain of the Company's fixed income and equity securities available for sale of $66.4 million and certain other investments of $49.1 million, in circumstances where the Company believed there was an other than temporary decline in t...
112
10K
HiscoxLtd-AR_2012
1,450
Trading losses in UK entities 12,959 (12,959) – – Trade and other payables 525 510 – 1,035 Intangible assets – Syndicate capacity 3,344 (468) – 2,876
26
annual_report
RSAInsuranceGroupPLC-AR_2018
4,629
G Underwriting impact 82 (includes £(37)m of forgone GVC recoveries for exits)
12
annual_report
2343
654
On June 10, 2002 UTG and Fiserv formed an alliance between their respective organizations to provide third party administration (TPA) services to insurance companies seeking business process outsourcing solutions. Fiserv will be responsible for the marketing and sales function for the alliance, as well as providing the...
128
10K
757
701
Annuity Benefits Accumulated Annuity receipts and benefit payments are recorded as increases or decreases in "annuity benefits accumulated" rather than as revenue and expense. Increases in this liability for interest credited are charged to expense and decreases for surrender charges are credited to other income.
45
10K
AegonNV-AR_2014
1,049
GBP 51 million related to in-sourcing the platform servicing and development as well as other restructuring costs. The loss on fair value items was GBP 14 million, mainly driven by equity hedges to protect the capital position. Realized gains on investments and impairment charges amounted to GBP 41 million and
50
annual_report
1929
1,142
Our net income (loss) per share would have been adjusted to the pro forma amounts indicated below; however, the expensing of stock options would have had no impact on our shareholders' equity.
32
10K
2041
388
The Company has three contracts with one HMO to provide behavioral healthcare services to contracted members in Texas. These combined contracts represented approximately 6.8%, or $1.9 million, 9.7%, or $1.8 million, and $2.1 million, or 11.8%, of the Company’s operating revenue for the fiscal years ended May 31, 2002, ...
88
10K
INGGroepNV-AR_2013
1,645
Changes in assets and liabilities due to the classification of ING U.S. as held for sale and discontinued operations, the classification to continuing operations of ING Japan and as a result of other disposal groups classification as held for sale are included in the notes in the line ‘Changes in the composition of the...
58
annual_report
AvivaPLC-AR_2009
1,835
Date of last appointment on letter of appointment 1 October 2008 3 May 2007 1 January 2009 30 May 2009 14 January 2008 6 May 2009 3 May 2007 5 December 2007
32
annual_report
NatwestGroupPLC-AR_2019
2,386
Par sheet Regulatory LAC Par sheet Regulatory LAC value (1) value value (2) value (3) value (1) value value (2) value (3)
22
annual_report
de_allianz-AR_2002
1,818
Trading income includes contributions to earnings amounting to ¤412 (1,385) mn from derivative financial instruments used by insurance companies for which hedge accounting is not applied. These include gains on derivative financial instruments embedded in exchangeable bonds issued amounting to ¤387 (880) mn. Also inclu...
64
annual_report
4622
817
Total net realized capital losses changed $(39.4) from $(917.6) to $(957.0) primarily due to losses on derivatives and an unfavorable change in the fair values of embedded derivatives offset by higher trading gains. Losses on derivatives were primarily due to changes in the interest rate environment. In addition, inclu...
61
10K
70
535
Upon adoption of SFAS 109, Accounting for Income Taxes, effective January 1, 1993, deferred taxes are provided on the temporary differences between the tax and financial statement basis of assets and liabilities. Deferred income tax previously was provided on the tax effects of timing differences between financial stat...
59
10K
2747
675
The investment portfolio generated income of $12.3 million, net of the write-down in the cost basis of the Company’s investment in a Bermuda based life reinsurer of $6.4 million as the decline in value was considered other than temporary;
39
10K
2958
1,149
Maturities for public finance obligations range from 1 to 50 years, with a weighted average life of 15 years. Structured finance transactions have legal maturities that range from 1 to 41 years with a weighted average life of 8 years. CDS transactions are included in all structured finance categories and tax-backed and...
58
10K
NatixisSA-AR_2005
764
The organization has embraced change During the year, the Human Resources (HR) department began to explore ways to adapt its structure to changes in the bank. It began to redeploy its HR teams to create an organization articulated around the core businesses. This organization emphasizes proximity, with HR managers who ...
78
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2017
1,843
Multi-year variable compensation 131 31 –26 –16 –10 109 Early retirement benefits/semi-retirement 65 46 –5 0 –3 102
18
annual_report
5164
971
The Monte-Carlo simulation model was used, for both the options and restricted share grants, to estimate the fair value of compensation expense as a result of the performance based component of these grants. Utilizing the Monte-Carlo simulation model, the fair values were $1.5 million and $1.9 million for the options a...
65
10K
NatixisSA-AR_2016
11,351
The report of the Board of Directors or the Executive Board presents, (…), N/A 394
15
annual_report
5756
1,135
The Company manages risk on certain long-duration claims by settling these claims through the purchase of annuities from unaffiliated carriers. In the event these carriers are unable to meet their obligations under these contracts, the Company could be liable to the claimants. The following table summarizes the fair va...
65
10K
HannoverRueckSE-AR_2001
595
A central risk coordinator ensures that all risk management activities are monitored, documented, and co-ordinated. The coordinator also bears responsibility for describing the risk situation of the company as a whole within the scope of the reporting system.
38
annual_report
ASRNederlandNV-AR_2016
3,858
Market risk is the risk of potential losses due to adverse movements in financial market variables. Exposure to market risk is measured by the impact of movements in financial variables such as equity prices, interest rates and property prices. The various types of market risk which are discussed in this section, are: ...
71
annual_report
3165
3,443
UIG and NISHD record receivables for amounts due from other insurance companies related to the sale of the other companies’ insurance products.
22
10K
RaiffeisenBankInternationalAG-AR_2017
2,888
Compared to year-end 2016, the retail credit portfolio increased € 8,702,503 thousand (of which € 6,649,870 thousand caused by the merger of RZB AG into RBI AG) to € 37,868,298 thousand. This increase was mainly caused by the mergerrelated integration of Raiffeisen Bausparkasse Gesellschaft m.b.H., Vienna (Group Corpor...
59
annual_report
NatixisSA-AR_2003
3,127
The capital markets risk management committee decides on the delegation of limits on a monthly basis.
16
annual_report
3614
1,076
TRH engages in a securities lending program managed by a subsidiary of AIG, whereby certain securities (principally fixed maturities and common stocks available for sale) from its portfolio are loaned to third parties. In these transactions, initial collateral, principally cash, is received by TRH in an amount exceedin...
75
10K
gb_prudential-AR_2018
7,782
Net cash remitted by business units: UK and Europe: � With-profits�remittance 233 215 � Shareholder-backed�insurance�business�remittance 97 105 � Asset�management�remittance 324 323
21
annual_report
RaiffeisenBankInternationalAG-AR_2017
359
No member of the Supervisory Board was unable to personally attend more than half of the meetings of the Supervisory Board.
21
annual_report
5249
2,664
Our GLB reinsurance is classified as a derivative for accounting purposes and therefore carried at fair value. We believe that the most meaningful presentation of these GLB derivatives is as follows:
31
10K
4766
1,101
Loss and LAE reserves - Adjustment resulting from the difference between the estimated fair value and the historical carrying value of TransRe’s unpaid loss and LAE, net of related reinsurance recoverable, as of the TransRe Acquisition Date. The estimated fair value consists of the present value of the net loss reserve...
73
10K
4744
299
Our results of operations for the years ended December 31, 2013 and December 31, 2012 are discussed below.
18
10K
HelvetiaHoldingAG-AR_2014
2,281
Foreign currency translation differences – – – 2.1 1.5 – 1.0 0.7
12
annual_report
RSAInsuranceGroupPLC-AR_2008
1,030
Property price risk The Group’s portfolio of properties is subject to property price risk arising from changes in the market value of properties. Thus if the value of property falls so will the fair value of the portfolio as set out in the sensitivity analysis on page 86.
48
annual_report
RSAInsuranceGroupPLC-AR_2018
4,526
Note 21 Less: coupon on 2017 issued restricted tier 1 instrument (14) (11)
13
annual_report
StorebrandASA-AR_2005
1,046
70 million due to the reversal of previous write-downs. Secondly, interest expenses was considerably lower following repayment of the exchangeable bond. Finally, Storebrand ASA has significant unrealised gains on its shares in Steen & Strøm.
35
annual_report
3343
980
Net losses and loss adjustment expenses incurred as a percentage of net premiums earned (the loss ratio) were 54.1% for the year ended December 31, 2007 as compared to 56.7% for 2006. The Company reported lower loss ratios in the other liability line of business in 2007 when compared to 2006 primarily as a result of th...
141
10K
1666
1,118
Now that the jury has awarded punitive damages and final judgment has been entered, Lorillard believes that it is unclear how the Punitive Damages Order will be implemented. The Punitive Damages Order provides that the lump-sum punitive damages amount, if any, will be allocated equally to each class member and acknowle...
198
10K
AvivaPLC-AR_2019
1,584
Committee changes during the year Claudia Arney and Glyn Barker stepped down from the Board and the Committee at the end of 2019 and I would like to thank them for their hard work and commitment during their tenures. George Culmer joined the Committee in January 2020 and brings significant financial services and accoun...
114
annual_report
LloydsBankingGroupPLC-AR_2013
551
Core loans and advances to customers increased by 23 per cent driven by Asset Finance and primarily the uK motor finance business.
22
annual_report
1146
386
- -------- (1) The Company recorded a charge to pre-tax earnings during the year ended December 31, 1995 of $125 million for loss and loss adjustment expenses and other legal accruals.
31
10K
4259
4,914
Foreign government securities totaled $3.16 billion, with 100% rated investment grade, as of December 31, 2010. Of these securities, 44.1% are backed by the U.S. government, 18.7% are in Canadian governmental securities held in our Canadian subsidiary and the remaining 37.2% are highly diversified in other foreign gove...
48
10K
2048
1,471
The SEC concluded that FASB Technical Bulletin 85-4 Accounting for Purchases of Life Insurance (FTB 85-4) should have been applied to the Company’s investment in life settlement contracts. Under FTB 85-4, the carrying value of each contract at purchase and at the end of each reporting period is equal to the cash surren...
101
10K
5835
1,150
At December 31, 2020, net unrealized gains on non-U.S. government securities was $38 million (2019: $12 million) which included gross unrealized foreign exchange losses of $1 million (2019: $3 million), mainly related to U.K. government bonds.
36
10K
2292
645
Net income and share-owner’s equity prepared in conformity with statutory reporting practices to that reported in the accompanying consolidated financial statements are as follows:
24
10K
4435
496
In 2010, we established a New York domiciled life insurance subsidiary, which offers a variety of annuity products. In 2011, the subsidiary started selling life insurance. Sales are made through independent and multiple-line agents and direct to the consumer.
39
10K
AegonNV-AR_2016
751
Results 2016 Europe Net income improved to EUR 127 million in 2016 compared with 2015 driven by higher underlying earnings before tax, and lower losses from other charges. The sale of the annuity portfolio of Aegon UK was the main driver behind Other charges of EUR 658 million in 2016. Underlying earnings before tax in...
90
annual_report
AvivaPLC-AR_2016
2,303
Our audit continued to focus on the valuation of insurance contract liabilities and the valuation of hard to value investments as well as the valuation of certain intangible assets established through the acquisition of the Friends Life Group in the prior year.
42
annual_report
5063
2,136
The following table summarizes income and expense from transactions with related parties for the periods indicated:
16
10K
AegonNV-AR_2018
5,247
The traditional group pension contracts offered by Aegon in the Netherlands include large group insurance contracts that have an individually determined asset investment strategy underlying the pension contract. The guarantee given is that the profit sharing is the maximum of 0% and the realized return on an asset port...
143
annual_report
nl_ing_grp-AR_2015
1,844
As announced in the 2014 Annual Report, the remuneration policy and the respective levels for Supervisory Board members was reviewed in 2015. The starting points for the review were the following: • Move to a simpler and more transparent structure • Bring remuneration levels more in line with peers and with levels adeq...
57
annual_report
5323
1,256
Affiliated reinsurance agreements that do not expose the Company to a reasonable possibility of a significant loss from insurance risk are recorded using the deposit method of accounting. The deposit assets on affiliated reinsurance were $28.0 million and $1.0 billion at December 31, 2016 and 2015, respectively. There ...
62
10K
SwissReAG-AR_1972
220
On the other hand, costs rose by Sw. frs. 3.3 million to Sw. frs. 15.5 million. Together with the slightly higher interest on the funds advanced by the parent company and a greater tax burden, the principal neg­ ative influence on the profit and loss account came from the continuing, worldwide currency devalua­ tions. ...
97
annual_report
AvivaPLC-AR_2004
819
Following the remuneration review, the Committee concluded that some aspects of the current remuneration policy were no longer in line with corporate governance good practice, most notably the lack of performance conditions relating to the matching shares awarded under the Deferred Bonus Plan and the retesting of the p...
139
annual_report
BeazleyPLC-AR_2017
1,881
Commissions received by Beazley service companies 22.7 15.5 Profit commissions from syndicates 623/6107 8.0 14.9 Agency fees from 623 2.2 2.0 Other income1 2.6 0.3 1 In May 2017 the group sold its Australian accident and health business, previously included in PAC segment, to Blend Insurance Solutions PTY Limited, a Sy...
107
annual_report
NatwestGroupPLC-AR_2019
3,770
The Main section corporate trustee is RBS Pension Trustee Limited (the Trustee), a wholly owned subsidiary of NWB Plc, Principal Employer of the Main section. The Board of the Trustee comprises four member trustee directors selected from eligible active staff, deferred and pensioner members who apply and six appointed ...
86
annual_report
ScorSE-AR_2015
1,256
as from the date of the Shareholders’ Meeting, i.e. until June 30, 2017, date on which it will be deemed expired if the Board of Directors did not use it. Except for the authorization granted pursuant to the 22nd resolution, which is granted for a 26-month duration, the authorizations granted by the Shareholders’ Meeti...
94
annual_report
5380
1,812
In 2015 and 2016, RSU awards were granted to the former Chief Executive Officer. The 2015 award would vest in three equal installments on January 1, 2016, 2017 and 2018, with certain accelerated vesting features. The 2016 award would vest in three equal installments on December 31, 2016, 2017 and 2018. The former Chief...
124
10K
5884
840
Our debt is recorded at carrying value in our consolidated balance sheets. The carrying value of our senior notes debt outstanding, net of unamortized debt issuance costs, was $6,060 million at December 31, 2020 and $5,366 million at December 31, 2019. The fair value of our senior note debt was $7,352 million at Decemb...
114
10K
5897
599
Short-term investments at December 31, 2020 included $1,000 in certificates of deposit issued by a Bermuda bank.
17
10K
NatwestGroupPLC-AR_2019
4,367
Notes: (1) Details of the company’s share capital are set out in Note 21 on the consolidated accounts. (2) Paid-in equity reclassified to liabilities as a result of the call of US$564 million and CAD321 million EMTN notes in August 2017 (redeemed in October 2017). (3) On 15 June 2017, the Court of Session approved a re...
139
annual_report
4766
1,325
On July 14, 2005 (the “Closing Date”), Alleghany completed the sale of its world-wide industrial minerals business, World Minerals, Inc. (“World Minerals”), to Imerys USA, Inc. (the “Purchaser”), a wholly-owned subsidiary of Imerys, S.A., pursuant to a Stock Purchase Agreement, dated as of May 19, 2005, by and among th...
302
10K
StorebrandASA-AR_2019
187
We have used the Task force on Climate-Related Financial Disclosures (TCFD) recommendations as our framework for disclosing climate-related financial risks. Climate-related disclosures are integrated throughout this annual report4), and a TCFD index can be found in appendix on page 210.
40
annual_report
ASRNederlandNV-AR_2012
329
Tenants’ energy consumption for general facilities is measured with a view to raising awareness of energy use and ultimately reducing their consumption. Of the a.s.r. property portfolio, 50% of residential properties have an energy performance rating of C or better, which is 10 percentage points higher than the housing...
56
annual_report
2152
673
an extended period of time, Diamond Offshore may reduce the size of a rig's crew and take steps to "cold stack" the rig, which lowers expenses and partially offsets the impact on operating income.
34
10K
fr_axa-AR_2009
8,746
(c) This amount includes the effect of the reclassifi cation of assets in the United States as plan assets rather than separate assets in 2007.
25
annual_report
RSAInsuranceGroupPLC-AR_2020
1,005
Although Covid-19 had a negative overall impact on the business, the financial results show an exceptional Return on Tangible Equity driven by strong underwriting performance.
25
annual_report
5946
596
Unpaid losses and LAE totaled $1,089,966,000 and $760,357,000 as of December 31, 2020 and 2019, respectively. The balance has increased year over year as a result of increased current year incurred losses primarily related to a higher frequency of catastrophe activity during the third and fourth quarter of 2020. This i...
73
10K
5276
844
Total common shares repurchased were 10.5 million, consisting of 9.1 million of common shares repurchased for $512 million and 1.4 million common shares acquired under an Accelerated Share Repurchase agreement, which terminated on January 15, 2016
36
10K
SwissLifeHoldingAG-AR_2004
142
Income Act that came into effect on 1 January 2005 contains new regulations on important facets of retirement provisions. For example, retirement provisions are to be encouraged by the government with the newly created Rürup pension. Swiss Life offers the “Swiss Life Basisplan” in this context.
46
annual_report
4364
650
Net investment income increased by $26 million, or 2%, to $1,175 million for the year ended December 31, 2010 when compared to 2009. The increase is primarily related to increased interest income of $27 million due to higher invested asset balances offset by $1 million higher unrealized losses on derivatives and held f...
55
10K
2339
598
The Company recorded a reinsurance recoverable of $5.0 million as of December 31, 2003 relating to a claim for an insured involving multiple policies written over multiple years beginning in 1998. The Company settled this claim in February 2004, but has not yet finalized the reinsurance recoverable with its reinsurer.
50
10K
5287
1,241
Regulatory accounting - The majority of Boardwalk Pipeline’s operating subsidiaries are regulated by FERC. GAAP for regulated entities requires Texas Gas Transmission, LLC (“Texas Gas”), a wholly owned subsidiary of Boardwalk Pipeline, to report certain assets and liabilities consistent with the economic effect of the ...
139
10K
SwissReAG-AR_2017
858
Expenses Life and health benefits –1 896 –1 872 −1 Return credited to policyholders –5 060 –3 179 −37 Acquisition costs –63 –106 68 Operating expenses –503 –514 2 Total expenses before interest expenses –7 522 –5 671 −25
39
annual_report
3433
967
In accordance with FASB Interpretation No. 46(R), Consolidation of Variable Interest Entities an interpretation of ARB No. 51, the financial statements for the years ended December 31, 2007 and 2006 reflect the consolidation of one Variable Interest Entity ("VIE"), a UK non-statutory trust that was established in Janua...
148
10K
LloydsBankingGroupPLC-AR_2020
661
Assisting our customers, Supporting businesses and SMEs, Helping Britain get a home, Building financial resilience, Supporting our communities, Supporting our colleagues, Conducting our business responsibly, page 25 to 31
29
annual_report
PhoenixGroupHoldingsPLC-AR_2012
1,554
The above analysis reflects the position as at 31 December 2012 and therefore does not reflect the £450 million prepayment made on 22 February 2013 in connection with of the re-terming of the Impala facility (see note 48).
38
annual_report
3005
770
ELRs for the latest accident years generally reflect the ELRs from prior accident years adjusted for the loss trend (see loss trend factor discussion immediately above), as well as the impact of rate level changes and other quantifiable factors. For certain longer tail lines of business that are typically lower frequen...
75
10K
4091
920
Unrealized losses on fixed maturity securities totaled $8,686,782 (includes $161,303 related to the non-credit component of an “other-than-temporary” impairment of a residential mortgage-backed security) at December 31, 2009 and were primarily associated with three different sectors: municipal, U.S. government-sponsore...
147
10K
5467
598
The following discussion of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and the notes thereto included in Item 8 of this report. This discussion includes forward-looking statements that are subject to risks, uncertainties and other factors d...
77
10K
fr_axa-AR_2006
2,083
The global economy slowed down, but it remained robust nonetheless, driven both by the United States and the emerging countriesespecially China, which has once again posted gross domestic product growth in excess of 10% in 2006. In the United States, growth slowed down off slightly in 2006, to around 3.3%, while the Eu...
65
annual_report
4484
1,166
As of December 31, 2011 and 2010, respectively, 65.3% and 66.1% of these gross unrealized losses were associated with investment grade securities. The unrealized losses on these securities decreased primarily due to a decline in interest rates since December 31, 2010.
41
10K
NatixisSA-AR_2016
11,768
Volatility a given period. its risk. Volatility corresponds to the standard deviation of the asset’s immediate returns over A measurement of the magnitude of an asset’s price fluctuation and thus a measurement of
33
annual_report
1801
374
Medical premiums for 2000 were $375.8 million compared to $251.9 million for 1999, an increase of 49.2%. The increase in medical premiums was primarily the result of increased new sales including sales arising from the selected major medical insureds of Central Benefits, premium rate increases, additional reinsurance a...
69
10K
fr_axa-AR_2012
7,498
AllianceBernstein believes that any losses to this client resulted from adverse developments in the U.S. housing and mortgage market that precipitated the fi nancial crisis in 2008 and not from any negligence or failure on their part. AllianceBernstein believes that it has strong defenses to these claims , which are se...
69
annual_report
5839
1,109
•The fair value of derivatives embedded in IUL contracts is set equal to the fair value of the outstanding call options.
21
10K
1776
238
The Company also has cash collateral of $15,948,636 at December 31, 2001 which it would be required to return at the end of expiration of applicable bond period subject to any claims.
32
10K
SwissLifeHoldingAG-AR_2010
2,187
The gains/losses transferred to the income statement of CHF 232 million in 2010 (2009: CHF 241 million) shown in “Other” relate to financial assets reclassified to loans and receivables.
29
annual_report
AvivaPLC-AR_2016
17
Emphasising customer experience driven by digital – online, mobile and tablet
11
annual_report
TrygAS-AR_2015
1,174
The fair value of the loan at the statement of financial position date - 1,106 671 714 1,086 The fair value of the loan at the statement of financial position date is based on a price of - 99 108 108 100 Total capital losses and costs at the statement of the financial position date - 3 4 4 6 Interest expenses for the y...
78
annual_report
5340
7,053
(b) Represents the percentage by which fair value is less than cost at December 31, 2016.
16
10K