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BaloiseHoldingLtd-AR_2013
1,365
Contracts that pose no significant insurance risk are financial contracts. Such financial contracts may include a dis­ cretionary participation feature (DPF), which determines the accounting policies to be applied.
29
annual_report
PhoenixGroupHoldingsPLC-AR_2020
3,544
During 2019, 315,730 shares were issued at a premium of £2 million in order to satisfy obligations to employees under the Group’s sharesave schemes (see note I1).
27
annual_report
3953
735
The accounting for derivatives is complex and interpretations of the applicable accounting standards continue to evolve. Judgment is applied in determining the availability and application of hedge accounting designations and the appropriate accounting treatment. Judgment and estimates are used to determine the fair va...
81
10K
969
422
No investment in any person or its affiliates (other than bonds issued by agencies of the United States Government) exceeded ten percent of stockholders' equity at December 31, 1998.
29
10K
4405
1,123
•Funded CDOs: The Company has credit exposure to the senior tranches of funded corporate CDOs. The senior tranches are typically rated triple-A at inception. While the majority of these exposures obligate the Company to pay only shortfalls in scheduled interest and principal at final maturity, in a limited number of ca...
59
10K
3218
747
period. Potentially dilutive securities, composed of incremental common shares issuable upon the exercise of stock options and warrants and the conversion of convertible preferred stock and Class A nonvoting common stock, are included in diluted net income per share to the extent such shares are dilutive. Diluted net i...
81
10K
HiscoxLtd-AR_2002
753
9) That the Remuneration Report contained within the Report and Accounts for the year ended 31 December 2002 be approved.
20
annual_report
Sampoplc-AR_2019
963
Sampo Group has prepared the consolidated financial statements for 2019 in compliance with the International
15
annual_report
1093
461
The Company entered into a line of credit with a bank during 1997 in the amount of $1.0 million with interest at 1% above the prime rate. The outstanding borrowing at December 31, 1997 amounted to $1.0 million. The Company repaid this amount during 1998.
45
10K
4944
952
Similarly, for the policies we assumed from Citizens in 2009, we received approval for a 14.8% increase in 2013 and a 14.1% rate increase in 2012. In 2011 we received approval for a 13.9% increase. Our voluntary program was 97.7%, 90.0%, and 79.2% of the total homeowner program, for the years ending December 31, 2013, ...
59
10K
NatwestGroupPLC-AR_2006
1,329
Under the US Sarbanes-Oxley Act of 2002 (the “Act”), specific standards of corporate governance and business and financial disclosures apply to companies, including the company, with securities registered in the US. Section 404 of the Act concerns internal control over financial reporting and the Group is required to c...
77
annual_report
2170
759
The Company's U.S. reinsurance segment principally consists of reinsurance business sourced in the U.S. and focuses almost exclusively on exposures in the U.S. The underlying property and casualty business classes covered by the treaties we write in our U.S. reinsurance segment include: professional lines, property, ma...
65
10K
de_allianz-AR_2018
640
VARIABLE REMUNERATION The variable remuneration (annual bonus, mid-term bonus, and equity-related compensation) is designed to reward performance. A
18
annual_report
5718
7,166
especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit mat...
59
10K
1623
1,473
- A $250,000,000 note receivable from ZGA US Limited ("ZGAUS"), a subsidiary of Zurich, formerly known as Orange Stone (Delaware) Holdings Limited. The Company loaned $250,000,000 to ZGAUS on December 15, 1999 and, in return, received a medium-term note with a 7.50% fixed interest rate that matures on December 15, 2004...
85
10K
5663
1,523
The impacts of our Long-Term Care business, a component of our Divested and Run-off Businesses within our Corporate and Other operations. Long-Term Care business sensitivities are presented separately in the immediately following table (see “-Sensitivities for the Long-Term Care business within our Corporate and Other ...
104
10K
2945
1,540
compensation cost associated with the vesting tranches of the option grant. The following weighted-average assumptions were used to estimate the fair values of options. In 2005, the expected life represents the fair value calculated by the binomial lattice model as the model does not require the input of an expected li...
52
10K
AssicurazioniGeneraliSpA-AR_2014
2,374
The Parent Company has set some common principles for this kind of risks: — policies and basic requirements to handle specific risk-sources; — a detailed operational risk classification and standard criteria to be applied to the whole Group in order to identify and evaluate operational risks within business processes; ...
88
annual_report
HelvetiaHoldingAG-AR_2004
230
Subsidiaries of Helvetia Patria Holding owned 400312 registered Helvetia Patria Holding shares at the balancesheet date (prior year: 291136 registered Helvetia Patria
22
annual_report
StandardLifeAberdeenPLC-AR_2015
1,098
 The Committee enters into a formal engagement with the auditor and agrees its audit fee
16
annual_report
1692
427
Basic and diluted earnings per share increased in 2000 as compared to 1999 due to both an increase in net income and a reduction in the weighted average number of shares outstanding. The decrease in the weighted average number of shares outstanding in 2000 is a result of the Company repurchasing 5.1 million shares duri...
57
10K
3192
1,191
Over the long term, the Corporation is dependent on dividend payments from its insurance subsidiaries in order to meet operating expenses and debt obligations. Insurance regulatory authorities impose various restrictions and prior approval requirements on the payment of dividends by insurance companies. As of December ...
60
10K
2716
1,939
Impact on Life Insurance Division. The varied claim liability development experience at the Life Insurance Division for each of the years presented is due to the development of a closed block of workers’ compensation business. The Life Insurance Division previously wrote workers’ compensation insurance and similar grou...
204
10K
HelvetiaHoldingAG-AR_2015
1,734
Total equity- and equity-index instruments 1 340.5 358.2 683.4 2 382.1 2 589.9 72.8 97.7
15
annual_report
gb_prudential-AR_2006
1,364
The contractholder can allocate the premiums between a variety of variable sub-accounts with a choice of fund managers and/or guaranteed fixed-rate options. The value of the portion of the separate account allocated to variable sub-accounts fluctuates with
37
annual_report
de_allianz-AR_2008
1,397
As of December 31, 2008, Allianz SE had money market securities outstanding with a carrying value of � 4,103 million, representing an increase in the use of commercial paper as a short-term financing instrument of � 1,174 million compared with 2007. Interest expense on commercial paper rose to � 125.0 million (2007: � ...
91
annual_report
4896
649
The Family Heritage Exclusive Agency was acquired by Torchmark’s acquisition of Family Heritage on November 1, 2012 as discussed in Note 6-Acquisition in the Notes to Consolidated Financial Statements. This agency markets primarily limited-benefit supplemental health insurance in non-urban areas. Most of their policies...
189
10K
2378
1,305
Net premiums written for our insurance segment increased to $1.17 billion for 2003, compared to $378.9 million for 2002. Contributing to this increase was a $256.7 million increase in program business, a $160.4 million increase in casualty business and a $112.3 million increase in construction and surety business. In a...
61
10K
BaloiseHoldingLtd-AR_2010
437
→→ The Group’s net combined risk of 95.2 % verifies our very good actuarial practice in the non-life business. Risk Management will continue to make rapid advances in the next few years, and make Baloise a company with a superior risk strategy and positioning.
44
annual_report
1263
553
interest rate caps as well as the allocation of a portion of unearned future interest to reserves at the date of loan acquisition.
23
10K
5869
2,152
The Company used a Monte Carlo model to value its performance restricted stock units granted in 2018 that contain a performance hurdle based on AGL's common share price.
28
10K
3622
693
The selected consolidated financial data that follows should be read in conjunction with the consolidated financial statements and accompanying notes appearing elsewhere in this report.
25
10K
4930
1,101
To assess the need for a PDR on our mortgage exposures, we develop loss projections based on modeled loan defaults related to our current policies in force. This projection is based on recent trends in default experience, severity and rates of defaulted loans moving to claim, as well as recent trends in the rate at whi...
80
10K
2333
375
Net income for 2001 was negatively impacted by prior accident year adverse development in the Group's workers' compensation product line and asbestos related claims as well as the impact of an early retirement plan. During the fourth quarter of 2001, a member of the Group, Ohio Casualty of New Jersey, Inc. (OCNJ), ente...
63
10K
4451
562
Our MGA operations receive managing general agent commissions for agency, underwriting, policy administration, and claims adjusting services performed on behalf of insurers. Commission income for the year ended December 31, 2011 was $12.2 million compared to $14.8 million in 2010. The decrease in commission income was ...
77
10K
3283
772
Mortgage-backed securities represent participating interests in pools of first mortgage loans originated and serviced by the issuers of securities. These securities are carried at fair value. Premiums and discounts are amortized using a method that approximates the level yield method over the remaining period to contra...
106
10K
4899
856
For the year ended December 31, 2014, we paid $55.5 million in premiums to maintain our policies in force. Of this amount $47.2 million of this amount was paid by White Eagle through its Revolving Credit Facility borrowings. While the liquidity risk associated with the policies that have been pledged as collateral unde...
237
10K
4072
864
Because the reserving process is inherently difficult and subjective, actual losses may materially differ from reserves and related reinsurance recoverables reflected in TRH's consolidated financial statements, and, accordingly, may have a material effect on future results of operations, financial condition and cash fl...
90
10K
gb_prudential-AR_2013
2,662
— Unit-linked and US variable annuity business separate account liabilities: For such business, the policyholder unit liabilities are directly reflective of the asset value movements. Accordingly, the operating results based on longer-term investment returns reflect the current period value movements in unit liabilitie...
47
annual_report
5690
2,476
The sum of the estimated cash flows of $237.3 billion exceeds the liability amount of $192.6 billion included on the consolidated balance sheet principally due to (i) the time value of money, which accounts for a substantial portion of the difference; (ii) differences in assumptions, between the date the liabilities we...
73
10K
5422
2,319
Earned premiums increased in 2016 reflecting written premium growth over the preceding twelve months.
14
10K
SwissReAG-AR_1970
124
All classes excl. Life Sw. frs. Sw Irs. Sw. frs. Sw. frs. 1
13
annual_report
5743
589
Other underwriting income in 2019 was $6.4 million, compared to other underwriting loss of $0.7 million in 2018.
18
10K
5792
763
We account for the purchase of life insurance policies in accordance with ASC 325-30, Investments in Insurance Contracts, which requires us to use either the investment method or the fair value method. We have elected to account for all of our life insurance policies using the fair value method.
49
10K
5884
843
The put and call options associated with our investment in Kindred at Home, which are exercisable at a fixed EBITDA multiple and provide a minimum return on the Sponsor's investment if exercised, are measured at fair value each period using a Monte Carlo simulation. The put and call options fair values, derived from th...
79
10K
4792
785
On June 27, 2013, the Company entered into a financial advisor and agent placement agreement whereby the Company had the option to pay in cash or issue 100,000 shares of common stock. The shares were valued on the agreement date, which was the measurement date at $0.51 per share based on the quoted trading price, and t...
75
10K
4827
1,071
Family Heritage was founded in 1989 and is headquartered in Cleveland, Ohio. It is a specialty insurer focused primarily on selling protection-oriented individual supplemental health insurance products through a captive agency force. Torchmark believes that Family Heritage is an excellent fit with Torchmark’s existing ...
173
10K
fr_axa-AR_2016
4,344
While the M anagement devotes very substantial resources to r isk m anagement on an on going basis, the Group’s r isk m anagement activities, like all control systems, are subject to inherent limitations and cannot provide absolute assurance or render the Group immune in any respect from the risks described in this Par...
87
annual_report
fr_axa-AR_2014
7,652
(b) The options with market performance criteria were valued at €1.78 per option granted in 2014 and €1.28 per option granted in 2013, based on a Monte-Carlo model. The options without performance criteria were valued at €2.03 per option granted in 2014 and €1.43 per option granted in 2013, based on the Black & Scholes...
56
annual_report
de_allianz-AR_2014
1,406
– increased from € 53.4 bn to € 55.6 bn. Foreign currency translation effects and other changes amounted to an increase of € 2.0 bn on a net basis.
29
annual_report
gb_prudential-AR_2007
891
Insurance risk Insurance risk is the inherent uncertainty as to the occurrence, amount and timing of insurance liabilities. This includes adverse mortality, morbidity and persistency experience.
26
annual_report
gb_lloyds_banking_grp-AR_2011
2,167
specialist expertise: Credit quality is maintained by specialist units providing, for example: intensive management and control (see intensive Care section); security perfection, maintenance and retention; expertise in documentation for lending and associated products; sector specific expertise; and legal services appl...
52
annual_report
3568
3,728
A component of life insurance surplus accumulated prior to 1984 is not taxable unless it exceeds certain statutory limitations or is distributed to shareholders. The American Jobs Creation Act of 2004 amended the federal income tax law to permit life insurance companies to distribute amounts from their policyholders’ s...
82
10K
gb_prudential-AR_2007
72
In September we announced that Philip Broadley, the Group’s Finance Director, would leave the company in May 2008 after eight years’ service. I would like to thank him for his immense contribution over that time. His successor, Tidjane Thiam, has an outstanding track record, and his broad knowledge and experience of th...
61
annual_report
ScorSE-AR_2011
5,615
 life reinsurance operating activities are managed by the division SCOR Global Life. This division hosts functional departments,
18
annual_report
gb_lloyds_banking_grp-AR_2010
5,157
Life insurance and participating investment contracts gross claims can also be analysed as follows: Total life insurance gross claims (9,397) (8,010)
21
annual_report
NatixisSA-AR_2017
1,929
AMF TABLE NO. 3R Directors’ fees and other compensation received by non-executive directors from January 1 to December 31, 2017.
20
annual_report
gb_prudential-AR_2010
3,062
Held outside long-term funds: Held in long-term fundsnote iii – – – 1,114 – – 1,114 – – 1,114
19
annual_report
BaloiseHoldingLtd-AR_2007
480
A oup had 8,643 em 91 new jobs were created in 2007. n 2007, the Baloise G
17
annual_report
3026
968
To manage reinsurance and insurance liability exposure, make investment decisions and assess overall enterprise risk, we model our underwriting and investing activities on an integrated basis. Our integrated risk management, as well as terms and conditions of our products, provides flexibility in making decisions regar...
132
10K
de_allianz-AR_2003
2,629
Changes due to valuation differences credited to income – 2,014 – 1,751
12
annual_report
AdmiralGroupPLC-AR_2008
725
are required to prepare the Group financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and applicable law and have elected to prepare the Parent Company financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Ac...
48
annual_report
AegonNV-AR_2008
723
Europe, however, proved resilient, despite a clear downturn in economic conditions and the impact of the global financial crisis. Underlying earnings before tax declined 35% to EUR 93 million, while AEGON’s Other countries reported a net loss for the year of
41
annual_report
5043
1,162
services. The loss of even one such claim, if it results in a significant punitive damage award, could have a material adverse effect on us. In addition, the risk of potential liability under punitive damage theories may increase significantly the difficulty of obtaining reasonable settlements of coverage claims.
48
10K
StorebrandASA-AR_2019
25
This is Storebrand We create a future to look forward to by delivering simple and sustainable pensions and savings.
19
annual_report
NatwestGroupPLC-AR_2014
7,490
Expenditure on investment properties 10 — — — — — 10
11
annual_report
NatixisSA-AR_2011
2,160
Chairman of the Board of Directors and Chief Executive Officer of: Albiréo, i-BP, GCE Paiements
15
annual_report
NatwestGroupPLC-AR_2007
384
concerns and work hard to achieve our vision of RBS being the safest place to do business.
17
annual_report
4726
664
Activity in the reserves for losses and loss expenses is summarized as follows. All amounts are shown net of reinsurance, unless otherwise indicated.
23
10K
LloydsBankingGroupPLC-AR_2010
4,181
March 2007 For 50 per cent of the award (the ‘EPS Award’) – the percentage increase in earnings per share of the Group (on a compound annualised basis) over the relevant period needed to be at least an average of 6 percentage points per annum greater than the percentage increase (if any) in the retail price index over ...
128
annual_report
HannoverRueckSE-AR_2008
695
Rates in property catastrophe business climbed sharply as expected following a year of heavy losses.
15
annual_report
StorebrandASA-AR_2012
1,607
the retirement age for SPP's Ceo is 62 years. the Ceo is also covered by a defined contribution pension plan, which implies that the company pays 35 per cent of the Ceo's fixed salary in pension premiums. In addition, he has a predefined pension plan that implies a lifetime pension of 16.25 per cent of the fixed salary...
132
annual_report
5517
797
Investment income growth, on a pretax basis, had a compound annual growth rate of 3.2 percent over the five-year period 2014 through 2018.
23
10K
3382
2,192
The following table lists the details of notes due to affiliates at December 31, 2007 (in 000’s):
17
10K
NatixisSA-AR_2009
349
Throughout the year, the Board also received reports on the work of the Audit and Compensation Committees.
17
annual_report
1070
723
During 1998, the Company recorded $8.2 million in permanent write downs of investments to recognize what is expected to be other than temporary declines in the market values of those securities.
31
10K
AegonNV-AR_2018
1,823
and Aegon N.V. fail or are likely to fail, could be applied to mixed financial holding companies such as Aegon N.V., including the right of bail-in of creditors.
28
annual_report
GjensidigeForsikringASA-AR_2010
1,156
For long-tail lines, the risk is linked to the fact that the ultimate claim costs must be estimated based on experience and empirical data. For certain lines within accident and health insurances, it may take ten to 15 years before all the claims that occurred in a calendar year are reported to the company. in addition...
196
annual_report
NatwestGroupPLC-AR_2005
615
Earnings Basic earnings per ordinary share increased by 8% from 157.4p to 169.4p. Earnings per ordinary share, adjusted for purchased intangibles amortisation, integration costs and net gain on sale of strategic investments and subsidiaries, increased by 3%, from 170.2p to 175.9p. The effect of implementing the require...
68
annual_report
HelvetiaHoldingAG-AR_2016
869
– Employer contribution to pension funds with respect to the fixed compensation of new EM members 1 000 000 231 050
21
annual_report
PhoenixGroupHoldingsPLC-AR_2010
385
IGNIS Asset Management IGNIS performed well in 2010 with operating profit increasing 35 percent to £46 million (2009 pro forma: £34 million). The higher operating profits reflect stronger markets and higher performance fees following revised fee arrangements with Phoenix Life.
40
annual_report
CNPAssurancesSA-AR_2009
3,467
25.5 INSURANCE RISk 25.5.1 Contract terms and conditions 25.5.1.1 TyPes oF iNsured risk by ClAss oF busiNess ANd overview oF The busiNess liNes
23
annual_report
5528
682
Expenses consist of benefits paid to policyholders or their beneficiaries under life insurance policies and distributions on annuity contracts. Benefit expenses also include additions to the reserve for future policyholder and annuity holder benefits to recognize our estimated future obligations under the policies and ...
156
10K
3257
1,009
During 2004, the Company granted options to a new director to purchase 10,000 shares of the Company’s common stock. During 2003, the Company granted options to purchase 20,000 shares of the Company’s common stock to certain directors of the Company, who are not officers of the Company. There were no stock options grant...
88
10K
3203
370
Effective January 1, 2006, the Company reclassified its long-term investments in U.S. Treasury Tax and Loss Bonds held by its mortgage guaranty insurance subsidiaries. The reclassification is intended to conform to more common industry reporting practices and to better align such assets with the corresponding long-term...
152
10K
AvivaPLC-AR_2018
777
• Limit our exposure to underwriting the most carbon intensive elements of the economy through restrictions in the terms of our Group Underwriting Boundaries for sectors such as mining and power generation. In line with our commitments to manage climate change, Aviva’s Global Corporate and Specialty team has announced ...
66
annual_report
AegonNV-AR_2009
2,852
The underlying assets have varying credit ratings and are pooled together and sold in tranches. See the table below for the breakdown of the non housing ABS exposure of AEGON USA.
31
annual_report
RSAInsuranceGroupPLC-AR_2019
1,223
Details of membership and attendance at committee meetings are shown on page 71 and biographies are available on pages 54 and 55.
22
annual_report
5804
1,117
On December 19, 2019, putative collective action litigation was filed against American Income Life in the United States District Court for the Eastern District of Arkansas (Patterson v. American Income Life Insurance Company, et al, Case No. 4:19-cv-918 KGB) (Patterson Action). The plaintiff, a former insurance sales a...
108
10K
3677
936
We are a diversified national managed healthcare company based in Bethesda, Maryland, operating health plans, insurance companies, network rental and workers’ compensation services companies. Through our Commercial Business, Individual Consumer & Government Business, and Specialty Business divisions, we provide a full ...
70
10K
NatixisSA-AR_2013
8,297
Michel Grass, 57, has been Chairman of the Board of Directors of Banque Populaire Bourgogne Franche Comté since 2010 (see Michel Grass’ CV in Chapter 3 “Corporate governance” – paragraph 3.2.4. herein).
32
annual_report
nl_ing_grp-AR_2012
3,449
The exact impact of the low interest differs per entity and per products offered. However, in general lower interest rates lead to higher provisions and thus lower available capital. In addition, capital requirements will also go up; the matching quality of the assets that back the liabilities will determine the magnit...
62
annual_report
NatixisSA-AR_2015
9,281
The directors’ terms of offi ce would be renewed for four (4) years to end after the Ordinary General Shareholders’ Meeting convened in 2020 to approve the fi nancial statements for the year ended December 31, 2019.
37
annual_report
de_allianz-AR_2015
1,935
DeferreD taX assets As of 31 December 2015, the Allianz Group reported deferred tax assets of € 1,394 mn. The deferred tax assets before netting with deferred tax liabilities amounted to € 19,874 mn. € 1,614 mn thereof resulted from tax losses which are carried forward to future periods.2
49
annual_report
4247
657
There are no other material obligations or liabilities arising from the commitments to fund partnership investments, mortgage loans, bank credit facilities and private corporate bond investment arrangements.
27
10K
SwissReAG-AR_2008
1,915
Non-core activities have been consolidated into the new segment Legacy. These activities, which have been in run-off since November 2007, are managed separately from the Asset Management division. Legacy includes Financial Guarantee Re business, SCDS, PCDS and further assets in the former Group’s trading book including...
55
annual_report
5146
896
This authoritative guidance requires additional disclosures related to short- duration insurance contracts. Retrospective application through comparative disclosures is required.
19
10K
4243
599
We recorded a non-cash, pre-tax goodwill impairment charge in fiscal year 2009 of $68.0 million. The goodwill impairment test is a two-step process that requires us to make judgments in determining what assumptions to use in the calculation. The first step of the process consists of estimating the fair value of each re...
175
10K
1381
301
The reconciliation for 2000 shows an increase in previously established reserves of approximately $11.6 million, while 1999 and 1998 show reductions of approximately $6.9 million and $8.7 million, respectively. Adverse development, primarily in workers compensation, GROUPadvantage, and non-standard auto resulted in inc...
48
10K
954
276
NAIC requires property and casualty insurance companies to calculate and report information under an RBC formula in their statutory annual statements. The RBC requirements are intended to assist regulators in identifying inadequately capitalized companies. The RBC calculation is based on the type and mix of risks inher...
77
10K