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ch_zurich_insurance_group-AR_2019
1,887
Reinsurance for Property & Casualty and Life businesses The Group’s objective in purchasing reinsurance is to provide market-leading capacity for customers while protecting the balance sheet, supporting earnings volatility management, and achieving capital efficiency. The Group follows a centralized reinsurance purchas...
128
annual_report
5830
2,510
Fully insured ongoing sales, excluding buyouts increased in 2020 with increases in both group disability and group life.
18
10K
StandardLifeAberdeenPLC-AR_2012
395
£6.3 billion of net flows were into higher margin pooled funds, with £6.3 billion of net flows out of segregated mandates. There has been net flows in pooled funds for each of the last five years. The AuM for our flagship Aberdeen global fund range, which is distributed globally, has increased from £27.3 billion to £34...
57
annual_report
RaiffeisenBankInternationalAG-AR_2010
894
Structured job evaluation Besides working on these employee-related issues, Human resources also implemented fundamental measures relating to the organizational structure of the new bank. As part of a job evaluation project, an objective and systematic evaluation of all positions within the company was conducted, based...
164
annual_report
557
252
YEARS ENDED DECEMBER 31, -------------------------------- 1996 1995 1994 ---- ---- ---- (Amounts in thousands) Underwriting profit (loss) Automobile-excluding the effects of Earthquake and Prop. 103 $ 81,010 $ 73,755 $ 11,261 Homeowner and Condominium - excluding effects of Earthquake and Prop. 103 (1,394) (438) 337 Pe...
91
10K
gb_prudential-AR_2014
3,513
Guaranteed Minimum Income Benefits are essentially fully reinsured, subject to a modest deductible and annual claim limits. As this reinsurance benefit is net settled, it is considered to be a derivative under IAS 39, and is therefore recognised at fair value with the change in fair value included as a component of sho...
80
annual_report
4504
1,456
Initial Expected Loss Ratio Method. To estimate ultimate losses under the expected loss ratio method, we multiply earned premiums by an expected loss ratio. The expected loss ratio is selected utilizing industry data, historical client data, frequency-severity and rate level forecasts and professional judgment. This me...
61
10K
2417
1,360
Other operating expenses were $242.0 million in 2004, an increase of 22% compared to $198.8 million in 2003, which was a 5% increase over 2002. The increase in 2004 was driven by two primary factors. First, asset-based trail compensation increased due to growth in account values. Asset-based trail commissions increased...
145
10K
3647
2,313
In December 2007, FASB issued SFAS No. 141 (revised 2007) (“SFAS 141R”), “Business Combinations”, and SFAS No. 160, “Non-controlling interests in Consolidated Financial Statements, an Amendment to ARB No. 51” (“SFAS 160”). SFAS 141R expands the definition of a business and redefines the acquisition date in a merger and...
177
10K
HannoverRueckSE-AR_2014
3,033
The share awards are granted automatically without any requirement for a declaration. Following expiry of a vesting period of four years the value of one Hannover Re share calculated at the disbursement date is paid out for each share award. This value is calculated according to the provisions of the preceding paragrap...
52
annual_report
ch_zurich_insurance_group-AR_2008
2,474
The key assumption changes represented by each of these sensitivities are as follows.
13
annual_report
4839
990
The aggregate intrinsic value (which is the undiscounted liability assuming the contracts are settled based on the index values and foreign currency exchange rates as of the balance sheet date) of our equity index put option contracts was approximately $1.7 billion at December 31, 2013 and $3.9 billion at December 31, ...
111
10K
RaiffeisenBankInternationalAG-AR_2020
8,184
CCoonnssoolliiddaatteedd rreettuurrnn oonn eeqquuiittyy – Consolidated profit less dividend on additional tier 1 capital in relation to average consolidated equity (i.e. the equity attributable to the shareholders of RBI). Average consolidated equity is based on month-end figures excluding non-controlling interests and...
47
annual_report
fr_axa-AR_2008
1,492
Reserve), (v) Other fee revenues, e.g., fees received on financial planning or sales of third party products.
17
annual_report
fr_axa-AR_2016
8,075
The sensitivity analysis are performed plan by plan using the projected unit credit method (same than the method applied when calculating the defi ned benefi t liability recognized in the statement of fi nancial position) and are based on a change in an assumption while holding all other assumptions constant.
50
annual_report
1717
389
(e) EQUITIES: Gross gains of $90,698,000, $118,739,000 and $109,404,000 and gross losses of $90,956,000, $51,860,000 and $22,000,000 were realized on sales of equities in 2001, 2000 and 1999, respectively. At December 31, 2001 and 2000, net unrealized appreciation of equities (before applicable income taxes) included g...
59
10K
5007
966
For investments in the CLO equity funds, we measure fair value by obtaining the most recently published net asset value as advised by the external fund manager. We use an income approach to corroborate the reasonableness of reported net asset value. The CLO equity funds have been classified as Level 3 due to a lack of ...
63
10K
AvivaPLC-AR_2008
3,803
Equity price risk The Group is subject to equity price risk due to daily changes in the market values of its equity securities portfolio. The Group’s shareholders are exposed to the following sources of equity risk: – Direct equity shareholdings in shareholder funds and the Group defined benefit pension funds; – The in...
88
annual_report
SwissReAG-AR_2014
4,192
In 2013, we began offering executive development programmes and selective master classes that focus on leadership. They aim to create a common understanding of how to drive Swiss Re forward and how to develop leaders consistently across the entire Group.
40
annual_report
5183
1,063
A summary of supplemental cash flow information for each of the three years ending December 31, 2015 is presented in the following table (in millions).
25
10K
fr_axa-AR_2013
3,212
Executive Offi cer, received compensation from the Company, with the exception of directors’ fees (jetons de pré sence). The amount of directors’ fees paid to each AXA Board member is indicated in the table below.
35
annual_report
5092
904
In May 2014, the FASB issued new accounting guidance to clarify the principles for revenue recognition. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects...
264
10K
4429
1,268
We expect to reclassify net losses of $2.2 million from AOCI into net income in the next 12 months, which includes both net deferred gains on discontinued hedges and net deferred losses on periodic settlements of active hedges. Actual amounts may vary from this amount as a result of market conditions.
51
10K
NatixisSA-AR_2011
6,476
COFACERATING.DE Receivables management and data FC 100 100 100 100 Germany
11
annual_report
gb_prudential-AR_2002
535
Clark Manning To reflect his role as Chief Executive of Jackson National Life, Clark Manning participates in a cash-based long-term plan that rewards the growth in appraisal value of Jackson National Life over the three-year performance period. All awards are geared to the change in the Prudential plc share price over ...
203
annual_report
BaloiseHoldingLtd-AR_2013
2,271
The changes in the fair value of mortgages recognised at fair value through profit or loss are attributable to changes in volumes and to changes in the yield curve on which measurement is based.
34
annual_report
fr_axa-AR_2010
5,443
This work is carried out by local teams and then consolidated by Group Risk Management to give an overview for the whole
22
annual_report
2240
1,199
During the third quarter ended September 30, 2003, we recognized an $89.1 million loss on settlement from disposition of discontinued operations, net of tax of $47.9 million, or $0.77 per basic share and $0.75 per diluted share, as a result of our settlement agreement with SNTL Litigation Trust, successor-in-interest t...
97
10K
5932
243
Since inception, our operations have been financed primarily through an organizational offering, three private placement offerings and an intrastate public stock offering. Through December 31, 2020, we received $20,346,985 from the sale of 14,867,097 shares and incurred offering costs of $2,659,696. Since inception thr...
146
10K
4649
536
2011 compared to 2010. For the year ended December 31, 2011, interest expense was flat compared to the same period in 2010, increasing $4 thousand, or 1.4%.
27
10K
AvivaPLC-AR_2005
128
We now have 18 bancassurance partnerships in India and have extended our agreement with American Express for 10 years and have partnerships with ABN AMRO, Canara Bank and Centurion Bank of Punjab. In China, Aviva-COFCO is now licensed in four cities and has sales offices in five further cities.
49
annual_report
AvivaPLC-AR_2016
6,559
Bellatrix SICAV 83 Europe Israël Croissance SICAV 85 Sirius SICAV 97 Bételgeuse SICAV 92 La Défense 9, 6 place de la Pyramide, 928000, Puteaux
24
annual_report
DirectLineInsuranceGroupPLC-AR_2017
128
Remuneration Your Remuneration Committee ensures a close correlation between creating value for shareholders, and remunerating Executive Directors and senior executives appropriately. See pages 57 and 74.
26
annual_report
NatwestGroupPLC-AR_2016
8,669
Average total equity as a percentage of average total assets 6.2% 6.0% 5.8% 5.5% 5.2%
15
annual_report
5958
2,026
Total 58.9 67.7 65.3 9.5 11.3 10.0 (4.2) 0.3 (1.1) (4.3) 0.9 1.2
13
10K
ScorSE-AR_2011
1,782
The Group is currently re-negotiating this contract and it is specified that the Chairman and Chief Executive
17
annual_report
de_allianz-AR_2004
2,259
This reclassification is comprised of: _ ¤181 mn related to Münchener Rückversicherungs-AG, Munich, and
14
annual_report
4590
963
With the ProCentury merger, we assumed the lease of their corporate headquarters, an approximately 44,000 square foot office building located in Westerville, Ohio. The lease agreement for this building expires in 2013. We are in discussions on future office space in the Columbus, Ohio area.
45
10K
3648
4,137
During the fourth quarter of 2008, the Company moved certain of its operations in New York from Long Island City to New York City. As a result of this movement of operations and current market conditions, which precluded the Company’s immediate and complete sublet of all unused space in both Long Island City and New Yo...
153
10K
4086
1,291
At December 31, 2009, the estimated fair value of our outstanding notes payable was approximately $849.1 million or $12.7 million lower than its carrying value. The carrying value of our notes payable was approximately $1,279.0 million or $71.8 million lower than its estimated fair value at December 31, 2008. The fair ...
118
10K
3690
895
The key assumptions used to arrive at our best estimate of loss reserves are the expected loss ratios, rate of loss cost inflation, selection of benchmarks and reported and paid loss emergence patterns. Our reporting factors and expected loss ratios are based on a blend of our own experience and industry benchmarks for...
78
10K
NatixisSA-AR_2009
1,706
Natixis Interépargne and Natixis AM are leaders on the French market for Solidarity Employee Savings with 46.8%
17
annual_report
4904
1,266
Forwards: The Company uses forward contracts to hedge certain invested assets against movement in interest rates, particularly mortgage rates. The Company uses To Be Announced mortgage-backed securities as an economic hedge against rate movements. The Company utilizes forward contracts in non-qualifying hedging relatio...
43
10K
2602
1,223
On January 1, 2002, we ceased goodwill amortization and will test for impairment annually, or more frequently if impairment indicators arise. Intangible assets with finite lives are amortized over their useful lives and are periodically reviewed to ensure that no conditions exist indicating the recorded amount of intan...
57
10K
5834
3,826
Current year payments, net of recoveries, include $250.0 million, $211.4 million and $228.3 million for the years ended December 31, 2020, 2019 and 2018, respectively, that relate to the Company’s specialty insurance segment. Prior year payments, net of recoveries, include $57.2 million, $41.7 million and $56.7 million...
66
10K
HannoverRueckSE-AR_2005
676
Reinsurance recoverables on unpaid claims 8.2 4 739 026 4 163 138
12
annual_report
fr_axa-AR_2017
4,547
Collected premiums net of loadings on premiums (+) 48,217 5,146 53,364 49,611 5,542 55,153
14
annual_report
GjensidigeForsikringASA-AR_2010
1,299
reiNsuraNce gjensidige purchases reinsurance to protect the group’s equity capital and reinsurance is thus a capital management tool. the same models and methodology, as used for evaluation of alternative asset allocations and the internal risk based capital allocation, are also used to analyze and purchase reinsurance...
46
annual_report
BaloiseHoldingLtd-AR_2011
318
Taken�together,�these�brand�values�and�principles�of�conduct� reinforce�Baloise’s�profile�as�an�attractive�and�forward-looking� employer��They�help�us�to�recruit�and�retain�excellent�employees� and�so�contribute�to�our�enduring�corporate�success��We�make� long-term�investments�in�the�skills�and�the�development�of�our� ...
22
annual_report
1307
1,247
Benefit Plans AFG expensed approximately $13 million in 1999, $22 million in 1998 and $21 million in 1997 for its retirement and employee savings plans.
25
10K
2134
2,745
stock split, in the form of a stock dividend, was distributed January 30, 2004 for stockholders of record
18
10K
934
411
The Company's executive stock plan, the "1991 Performance Incentive Program", provides for grants of non qualified or incentive stock options, restricted stock awards and stock appreciation rights ("SARs"). The plan is administered by the Company and Compensation Committee of the Board of Directors. Stock options may b...
90
10K
NatixisSA-AR_2006
5,589
Financial assets at fair value through profi t and loss 79,470 13,982 9,261 24,835 40,144 9,211 176,903
17
annual_report
BaloiseHoldingLtd-AR_2007
3,491
Less: expenditures in the reporting period –15.4 –/– –15.4 –14.3 –/– –14.3
12
annual_report
NatwestGroupPLC-AR_2017
4,041
It also uses the assumptions that market participants would use when pricing the asset or liability. In determining fair value the Group maximises the use of relevant observable inputs and minimises the use of unobservable inputs.
36
annual_report
5830
1,998
Considering the impacts of COVID-19, the Company evaluated the impact of market factors on the fair value of the reporting units using the income approach and determined the estimated fair values do not indicate a goodwill impairment for any reporting unit. The annual goodwill assessment for the reporting units was com...
70
10K
fr_axa-AR_2009
4,183
Detailed information about all of these transactions, as well as individual disclosures fi led in accordance with Articles 22322 and 223-25 of the AMF’s (Autorité des marchés financiers)
28
annual_report
NatixisSA-AR_2018
10,539
Outstanding loans used to finance renewable energy and sustainable real estate
11
annual_report
3952
10,996
At December 31, 2009, the aggregate guaranteed minimum death benefit value (assuming every variable annuity policyholder died on that date) on AFG's variable annuity policies exceeded the fair value of the underlying variable annuities by $85 million, compared to $191 million at December 31, 2008. Death benefits paid i...
68
10K
5729
721
The methods above all calculate an estimate of total ultimate losses. Our provision for loss and loss adjustment expenses is calculated by subtracting total paid losses from our estimate of total ultimate losses. Our estimate for IBNR is calculated by subtracting case reserves from our provision for loss and loss adjus...
52
10K
5512
1,961
Use of Actuarial Methods and Judgments- The Company’s reserving actuaries regularly review reserves for both current and prior accident years using the most current claim data. A variety of actuarial methods and judgments are used for most lines of business to arrive at selections of estimated ultimate losses and loss ...
222
10K
3198
1,646
Deloitte & Touche LLP, our independent registered public accounting firm, audited the consolidated financial statements of Cincinnati Financial Corporation and subsidiaries for the year ended December 31, 2006. Their report is on Page 80. Deloitte’s auditors met with our audit committee to discuss the results of their ...
71
10K
5173
942
Completion Factors. Completion factors are the most significant factors we use in developing our medical costs payable estimates for older periods, generally periods prior to the most recent three months. Completion factors include judgments in relation to claim submissions such as the time from date of service to clai...
101
10K
5934
785
Capitalized software costs reflect costs related to internally developed or purchased software used by the Company that has expected future economic benefits. Certain internal and external costs incurred during the application development stage are capitalized. Costs incurred during the preliminary project and post imp...
121
10K
DirectLineInsuranceGroupPLC-AR_2020
1,176
Penny James Chief Executive Officer for the subsequent years in the plan are less certain. However, the plan provides a robust planning tool for strategic decisions. The Board recognises that, in a strategic plan, uncertainty increases over time and, therefore, future outcomes cannot be guaranteed or accurately predict...
48
annual_report
CNPAssurancesSA-AR_2013
131
Lasting shareholder relationships our AmBitioN is to CreAte vALue for ALL CNP AssurANCes stAkehoLders iN LiNe with our CommitmeNt to ACtiNG
21
annual_report
AssicurazioniGeneraliSpA-AR_2019
2,800
(€ million) Policies where the investment risk is borne by the policyholders
12
annual_report
2640
951
Use of Estimates. The nature of the insurance and investment management businesses requires management to make numerous estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates.
40
10K
INGGroepNV-AR_2019
445
▪ Ninety-day agile delivery cycles to facilitate continuous improvement, planning and prioritisation that ultimately lead to a better impact on customers and other stakeholders.
24
annual_report
2076
580
If a decline in value is determined to be other than temporary and the cost basis of the security is written down to fair value, we review the circumstances which caused us to believe that the decline was other than temporary with respect to other investments in our portfolio. If such circumstances exist with respect t...
111
10K
HannoverRueckSE-AR_2009
286
After several years of premium declines, the gross premium volume for our non-life reinsurance business group climbed by 15.2% to EUR 5.7 billion (EUR 5.0 billion) in the year under review. At constant exchange rates, especially relative to the US dollar, growth would have come in at 13.4%. The level of retained premiu...
64
annual_report
4450
1,211
The Company’s fair value measurements are based on a combination of the market approach and the income approach. The market approach utilizes market transaction data for the same or similar instruments. The income approach is based on a discounted cash flow methodology, where expected cash flows are discounted to prese...
51
10K
4805
11,023
Net realized investment gains, excluding OTTI, of $33.6 million were recognized for the twelve months ended December 31, 2013 compared to net realized investment gains of $18.3 million for the twelve months ended December 31, 2012. The change in the net realized investment gains is primarily attributable to a decrease ...
192
10K
ASRNederlandNV-AR_2008
1,041
Balance sheet as at 31 December 2006 624 1,075 98 398 2,195 Result carried over from previous financial year -624 0 0 624 0 Net result current financial year 889 0 0 0 889
34
annual_report
3540
640
Underwriting expenses are comprised of policy acquisition costs and other underwriting expenses. Policy acquisition costs are those costs that vary with and are primarily related to the acquisition of new and renewal policies and are comprised of commissions paid to producers and premium taxes. Other underwriting expen...
105
10K
ScorSE-AR_2017
1,678
To SCOR’s knowledge, the percentages of share capital and voting rights held by its directors and Executive Committee members were 3.97% of the capital and 4.09% of the voting rights as at December 31, 2017 (December 31, 2016: 4.07% of the capital and 4.24% of the voting rights).
48
annual_report
INGGroepNV-AR_2016
5,807
The funding mix remained well diversified. Retail deposits remained ING Bank’s primary sources of funds and slightly increased to 51% of the total funding mix per year end 2016. The Loan-to-Deposit ratio (excluding securities at amortised costs) increased from 1.04 per 2015 year-end to 1.06 per year end 2016.
49
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2014
3,173
Universal life Contracts in life primary insurance where the amount of the premiums and benefits is flexible, the policyholder being able to vary the premium payments within certain limits.
29
annual_report
4896
934
Therefore, Torchmark considers these declines in value resulting from changes in market interest rates to be temporary. In certain circumstances, however, Torchmark determines that the decline in the value of a security is other-than-temporary and writes the book value of the security down to its fair value, realizing ...
124
10K
TrygAS-AR_2016
1,731
Annual report 2016 | Tryg A/S | | Menu – Financial statements unable to provide sufficient information for the Group to use defined-benefit accounting. The plan is therefore accounted for as a defined-contribution plan.
34
annual_report
3937
853
Management believes that the Company's methods of estimating the liabilities for insurance reserves provided appropriate levels of reserves at December 31, 2008. Changes in the Company's reserve estimates are recorded through a charge or credit to its earnings.
38
10K
5805
634
On August 22, 2018, the Compensation Committee granted 1,000 shares of the Company’s common stock (the “Bonus Shares”) and 1,000 RSUs to the Company’s Chief Financial Officer, John S. Hill, under the 2018 Plan. Each RSU represents a contingent right to receive one share of the Company’s common stock. These RSUs vest in...
88
10K
4802
1,388
Derivatives: Derivatives are carried at fair value, which is determined using the Company's derivative accounting system in conjunction with observable key financial data from third party sources, such as yield curves, exchange rates, S&P 500 Index prices, London Interbank Offered Rates ("LIBOR") and Overnight Index Sw...
233
10K
gb_prudential-AR_2017
2,458
Financial performance The Committee reviewed performance against the performance ranges at its meeting in March 2018. Of the bonus performance metrics, the maximum targets were all exceeded other than Group IFRS operating profit, Savings & Retirement Solutions cash flow and IFRS operating profit, and Prudential Corpora...
79
annual_report
1101
574
arrangements. The agreements contain non-compete provisions. The terms of the agreements range from three to five years and normally contain extension provisions.
22
10K
gb_lloyds_banking_grp-AR_2012
6,510
Basis of determining regulatory capital 195 capital sensitivities 199 capital statement 195 critical accounting estimates and judgements 227
18
annual_report
182
457
The policies corresponding to the remaining claims were written on a direct basis. The Company has 100% excess of loss reinsurance through 1980 of $100,000, and $500,000 after that date. At December 31, 1995, the claims are reserved as follows
40
10K
3648
2,919
Included in net investment gains (losses) for the year ended December 31, 2008 were losses of $2,677 million in embedded derivatives related to the change in estimated fair value of the above guarantees. Effective January 1, 2008, the carrying amount of guarantees accounted for at estimated fair value includes an adjus...
78
10K
3097
1,340
Specialty Reinsurance Underwriting Results - Our specialty reinsurance unit experienced improved underwriting performance in 2006 with underwriting income of $164.2 million, a net claims and claim expense ratio of 7.0%, underwriting expense ratio of 24.1% and combined ratio of 31.1%, compared to $101.9 million of under...
92
10K
3727
462
The Financial Accounting Standards Board (“FASB”) requires that financial statements that are intended to be in conformity with GAAP follow all applicable authoritative accounting pronouncements. As a result, we cannot refer to financial statements prepared in accordance with NAIC SAP as having been prepared in accorda...
90
10K
RSAInsuranceGroupPLC-AR_2020
3,477
The right-of-use asset is initially measured as the value of the lease liability, adjusted for any initial direct costs incurred to obtain the lease restoration provisions and any lease payments made before the commencement of the lease.
37
annual_report
5034
2,826
XL-Ireland is an Irish corporation and, except as described below, neither it nor its non-U.S. subsidiaries have paid U.S. corporate income taxes on the basis that they are not engaged in a trade or business or otherwise subject to taxation in the United States. However, because definitive identification of activities ...
253
10K
ScorSE-AR_2016
2,157
On the other hand, an increase in interest rates could lead to a fall in the market value of fixed income securities that SCOR holds. In the case of a need for cash, SCOR may be obliged to sell fixed income securities, possibly resulting in capital losses. SCOR’s reinsurance business may also be exposed to interest rat...
106
annual_report
NatixisSA-AR_2017
6,017
Asset & Wealth Management9.1 of these asset managers have forged a strong reputation, such as Loomis Sayles, Harris Associates, AEW, DNCA and Natixis Asset Management.
25
annual_report
ScorSE-AR_2013
1,624
Other Offices and positions: Director: - Bolloré SA *(France) - Dexia SA * (Belgium) - Fonds Stratégique d’Investissement (France)
19
annual_report
5053
1,377
As of December 31, 2015 (Successor Company), we held securities with a fair value of $304.5 million, or 0.7% of invested assets, supported by collateral classified as Alt-A. As of December 31, 2014 (Predecessor Company), we held securities with a fair value of $351.6 million supported by collateral classified as Alt-A....
97
10K
1789
586
In general, prescription drug costs have been rising over the past few years. These increases are due to the introduction of new drugs costing significantly more than existing drugs, direct consumer advertising by the pharmaceutical industry that creates consumer demand for particular brand-name drugs, and members seek...
103
10K
3964
985
Our financial services expenses decreased $1,844,000 (19%) for the year ended December 31, 2009 compared to 2008. With the drop in trading activity associated with the U.S. economic downturn and the resultant investor uncertainty, we began making cost reductions in 2008 within this division, the full effect of which wa...
276
10K
HannoverRueckSE-AR_2011
2,227
all responsibility, each member of the Executive Board leads their own area of competence at their individual responsibility within the bounds of the resolutions adopted by the Executive
28
annual_report
gb_prudential-AR_2011
3,315
Group’s segmental analysis of profit before tax. At 31 December 2011, an increase in the rates of 1 per cent (2010: 1 per cent except Japan and Taiwan 0.5 per cent) is estimated to have the effect of decreasing pre-tax profit by £159 million (2010: £112 million). After adjusting these results for deferred tax the reaso...
70
annual_report