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4472
673
We experienced net realized losses of $27.4 million for the year ended December 31, 2010, as compared to net realized losses of $53.1 million for the year ended December 31, 2009. The losses realized for the year ended December 31, 2010, were primarily caused by a loss of $54.0 million related to equity and interest ra...
90
10K
ASRNederlandNV-AR_2016
2,209
Intragroup transactions Intragroup balances and transactions between consolidated group companies are eliminated. Gains and losses on transactions between a.s.r. and associates and joint ventures are eliminated to the extent of a.s.r.’s interest in these entities.
35
annual_report
2747
584
Prior to the decision to begin an orderly runoff, the Company participated in a number of lines of reinsurance business including finite risk, accident & health, aviation & satellite, property, property catastrophe, auto liability, marine and workers’ compensation business primarily through OPRe in Bermuda and working ...
55
10K
PosteItalianeSpA-AR_2020
3,571
With regard to the supplier selection process, Poste Italiane wanted to integrate criteria that would allow indirect environmental impact to be monitored. The Company verifies the technical and professional suitability of its suppliers by requesting, for qualification purposes, the possession of specific requirements, ...
115
annual_report
5058
1,728
• proceeds from the sale of and distributions received on investments-In August 2015, we sold our interest in our cost-basis investment in naviHealth for $35.6 million and received cash proceeds of $33.1 million, with the balance of $2.5 million held in escrow and booked a pre-tax realized gain of $29.6 million. In Nov...
118
10K
2991
1,725
During 2006, the Company incurred interest expense in the amount of $28.6 million associated with indebtedness incurred in connection with the Merger completed on April 5, 2006. In connection with the Merger, the Company borrowed $500.0 million under a term loan credit facility and issued $100.0 million of Floating Rat...
62
10K
2375
2,270
Investment income represents earnings on our investment portfolio. We rely on after-tax investment income as a significant source of net earnings since we generally achieve a combined ratio (see below) of slightly less than 100%.
35
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2005
194
Dr. jur. Nikolaus von Bomhard (Chairman of the Board of Management) * 1956, lawyer, with Munich Re since 1985
19
annual_report
2852
904
at trial or on appeal. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will themselves view the relevant evidence and applicable law.
29
10K
5578
911
See Note 9 to our Consolidated Financial Statements for additional discussion of our review of declines in fair value, including information regarding our accounting policies for fixed maturities.
28
10K
4098
4,011
Operating earnings is defined as operating revenues less operating expenses, net of income tax.
14
10K
2042
1,210
Derivatives are included in AFC's Balance Sheet and consist primarily of investments in common stock warrants (valued at $13.8 million at December 31, 2002; included in other stocks), the equity-based component of certain annuity products (included in annuity benefits accumulated) and related call options (included in ...
69
10K
gb_lloyds_banking_grp-AR_2009
267
On a statutory basis, the Group delivered a profit before tax of £1 billion for 2009. This result includes an £11.2 billion negative goodwill gain associated with the purchase of HBOS, given we acquired the business at half book value in anticipation of the likely losses resulting from their troubled asset portfolios.
52
annual_report
953
885
The amortized cost and estimated fair value of fixed maturity securities, by contractual maturity dates, (excluding scheduled sinking funds) as of December 31, 1998 and 1997 are as follows:
29
10K
PhoenixGroupHoldingsPLC-AR_2014
576
The emerging cash flows of the Group may be impacted during periods of severe market turbulence by the need to maintain appropriate levels of regulatory capital. The impact of market turbulence may also result in a material adverse impact on the Group’s embedded value.
44
annual_report
HannoverRueckSE-AR_2005
552
We counter these risks, inter alia, by means of the following measures: • monitoring of claims trends,
17
annual_report
NatixisSA-AR_2019
4,868
The information reported at December 31, 2018 has not been restated for the impact of the first-time application of IFRS 16 “Leases”, in accordance with (a) the option available under this standard and the amendment to IAS 12 “Income Taxes”. The impacts of the first-time application of the amendment to IAS 12 and to IF...
142
annual_report
AvivaPLC-AR_2012
638
Expenses Claims and benefits paid, net of recoveries from reinsurers (23,601) (24,380) (22,240) (21,080) (23,425) Change in insurance liabilities, net of reinsurance (430) (2,284) (2,837) (1,119) 7,219 Change in investment contract provisions (4,450) 1,478 (9,212) (11,096) 10,880 Change in unallocated divisible surplus...
47
annual_report
4032
2,199
(d) STAT financial statements only include a provision for current income taxes as a component of net income. Deferred taxes, subject to certain limitations set forth in Statement of Statutory Accounting Principles (“SSAP”) 10R are recorded in the STAT balance sheets with any changes thereto recognized via a change in ...
100
10K
5866
2,012
On January 1, 2018, we adopted new accounting guidance related to the classification and presentation of changes in restricted cash. The new guidance requires that changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents be shown in the statements of cash flows and requires additi...
108
10K
NatwestGroupPLC-AR_2007
631
Each of the Group’s businesses is subject to substantial regulation and regulatory oversight. Any significant regulatory developments could have an effect on how the Group conducts its business and on the results of operations
34
annual_report
564
567
COMMERCIAL SPECIALTY. Commercial Specialty coverages provide protection against property loss and legal liability for injuries to other persons or damage to their property arising from the policyholder's business operations. Commercial Specialty develops and markets insurance programs where the nature of the risk does ...
135
10K
3460
1,363
Realized average rate decreases on renewal business approximating 3.6% and 1.8% for the commercial and specialty lines segments, respectively, for 2007 compared to 2006.
24
10K
329
528
(5) For statutory accounting purposes, the Company ceded a significant amount of premiums in 1992 due in part to premiums to reinstate coverages exhausted by losses related to Hurricanes Andrew and Iniki. The reduction in statutory net premiums written for 1992 results in an increase in the underwriting expense ratio i...
62
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2014
2,334
Less Provision for deferred premium refunds recognised in equity –6,384 –2,754 Deferred taxes recognised in equity –1,986 –796 Non-controlling interests –24 –8 Consolidation and currency translation effects –98 32
29
annual_report
SwissReAG-AR_2020
2,687
Stock Ownership Guidelines Swiss Re has stock ownership guidelines which articulate the levels of stock ownership expected of the Group EC members, including the Group CEO. The guidelines are designed to increase the alignment of the interests of senior management and shareholders.
42
annual_report
HannoverRueckSE-AR_2009
1,944
The consolidated financial statement reflects all IFRS in force as at 31 December 2009 as well as all interpretations issued by the International Financial Reporting Interpretations Committee
27
annual_report
5918
628
Based on current facts and circumstances, the Company believes the unrealized losses presented in the December 31, 2020 securities in a gross unrealized loss position table above are not indicative of the ultimate collectibility of the current amortized cost of the securities, but rather are attributable to changes in ...
108
10K
AvivaPLC-AR_2017
65
Our strength in distribution and manufacturing is also helping to strengthen our composite position in markets outside the UK. In France, our new leadership team intends to align our high quality distribution franchises under a single Aviva brand to deepen customer relationships. In Ireland, we have maintained positive...
129
annual_report
ScorSE-AR_2009
3,545
The modalities of the participation of the Shareholders to the General meetings and notably the main powers of the Shareholders’ General meetings, the description of the Shareholders’ rights as well as the modalities of the exercise of the voting rights are set forth by the Article 19 of the Company’s by-laws, an elect...
63
annual_report
3790
972
Death benefits on universal life business in excess of projected account values
12
10K
4883
6,279
The following table provides information about the outstanding three-year intervals at December 31, 2014.
14
10K
5253
424
On August 15, 2016, the Consumer Financial Protection Bureau (“CFPB”) proposed various amendments to federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act and the Truth in Lending Act that are implemented in Regulation Z. The proposed amendments would reinforce the CFPB’s informal gui...
140
10K
SwissReCorporateSolutions-AR_2018
194
Reinsurance receivables Reinsurance receivables as of 31 December were as follows: Premium receivables invoiced 856 902 Receivables invoiced from ceded re/insurance business 126 116 Recognised allowance –41 –34
28
annual_report
fr_axa-AR_2019
8,574
Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals, and is expected to be finalized during the 4th quarter of 2020.
28
annual_report
NatixisSA-AR_2015
3,711
Lastly, as part of its commitment to continuing the digital transformation of its operating processes, the Insurance business line is offering Groupe BPCE’s networks and customers its products and services and new consumer modes: online subscription, electronic signature, real-time management, smartphone applications, ...
43
annual_report
NatixisSA-AR_2014
3,494
Natixis is committed to protecting the personal data of customers and employees alike. As such: V processes involving the use of personal data are conducted pursuant to the French Data Protection Act and, in most cases, are declared to the Commission Nationale de l’Informatique et des Libertés (CNIL – French Data Prote...
97
annual_report
5058
1,603
Our after-tax loss from discontinued operations was $159.2 million and $4.5 million for the years ended December 31, 2015 and 2014, respectively. 2015 included a pre-tax write down to fair value of $149.2 million, on our Traditional Insurance business, which is considered held for sale at December 31, 2015, a realized ...
170
10K
176
331
The Company considers its catastrophe reinsurance costs to be an additional loss cost. Ceded reinsurance premiums, losses and commissions for these coverages are combined and presented in the insurance losses, death and other benefits line. All non-catastrophe reinsurance amounts are reflected in their respective line ...
68
10K
198
314
Western Surety specializes in writing small fidelity and noncontract surety bonds, referred to as "miscellaneous" bonds, and errors and omissions ("E&O") liability insurance and is licensed to write fidelity, surety and casualty insurance in all 50 states and the District of Columbia. Western Surety is rated A+ (Superi...
192
10K
NatixisSA-AR_2010
7,600
The issue price of these new shares will be equal to 90% of the average opening price of the 20 stock market trading sessions prior to the day of the distribution decision (day of the General Shareholders’ Meeting) less the amount of the dividend.
44
annual_report
4959
1,210
Our Runoff segment decreased $5 million predominantly from lower GMDB reserves in our variable annuity products due to favorable equity market performance in 2013.
24
10K
StorebrandASA-AR_2018
1,042
The premium income for Guaranteed Pension (excluding transfers) was NOK 5.3 billion in 2018, on par with the previous year. The majority of the products are closed for new sales and the customers’ choices for transferring from guaranteed to non-guaranteed products are in line with the Group’s strategy.
48
annual_report
5346
1,120
We offer a noncontributory defined benefit pension plan in which all of our employees are eligible to participate after they have completed one year of service, attained 21 years of age and have met the hourly service requirements. Retirement benefits under our pension plan are based on the number of years of service a...
123
10K
3775
1,262
During 2006, the Company recorded $27.1 million of bad debt charges related to its Lender's Indemnity product line. These bad debt charges followed the bankruptcy filing related to CENTRIX Financial LLC ("CENTRIX"), the originator and servicer of the business, and are the result of the Company's assessment, based in pa...
194
10K
2054
786
The following is a summary of the Company's option activity, including grants, exercises, forfeitures and weighted average price information:
19
10K
5199
480
In November 2015, the FASB issued an ASU 2015-17, “Income Taxes (Topic 740)”, an update to simplify income tax accounting. The update requires that all deferred tax assets and liabilities be classified as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts.
48
10K
gb_prudential-AR_2013
135
In December 2013, we defined a new set of objectives that we aim to achieve by 2017. We are entering this new period with confidence in the prospects of the Group and the capacity of our teams across Asia, the US and the UK to execute. With our 2013 results, we have made a positive start towards our newly launched 2017...
62
annual_report
TrygAS-AR_2012
258
Private was the business area where Tryg first implemented significant profitability measures. Thus, Private is the area which is farthest ahead in relation to the financial targets. To ensure continued satisfactory financial results, considerable focus is devoted to price differentiation, segmentation and optimising s...
45
annual_report
SwissLifeHoldingAG-AR_2009
95
Summary of Group Results — Swiss Life achieved an annual result from continuing operations of CHF 324 million in 2009, compared to a loss of CHF 1.1 billion the previous year. At the same time, the Group increased premium volume by 9% to CHF 20.2 billion. A financial result of CHF 4.6 billion and a very strong fourth q...
67
annual_report
3319
1,060
Loss and loss expense reserves represent our best estimate of ultimate amounts for losses and related expenses from claims that have been reported but not paid, and those losses that have occurred but have not yet been reported to us. Loss reserves do not represent an exact calculation of liability, but instead represe...
89
10K
INGGroepNV-AR_2015
2,431
Financial liabilities Financial liabilities at amortised cost Financial liabilities at amortised cost include the following sub-categories: preference shares, other borrowed funds, debt securities in issue, subordinated loans, amounts due to banks and customer deposits and other funds on deposit.
39
annual_report
NNGroupNV-AR_2019
370
Adding value for customers We keep a close eye on what is happening around us, and utilise the challenges and opportunities any developments offer to continually improve the customer experience.
30
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2014
1,693
As part of the change in segmentation of the ERGO Insurance Group, other improvements have also been made to management reporting. The asset management segment was divided among the segments that write insurance business, to better reflect the close interlinking between asset management and insurance, since the assets ...
53
annual_report
ch_zurich_insurance_group-AR_2016
2,397
Life insurance Premiums from traditional life insurance contracts, including participating contracts and annuity policies with life contingencies, are recognized as revenue when due from the policyholder. For single premium and limited pay contracts, premiums are recognized as revenue when due, with any excess profit d...
66
annual_report
fr_axa-AR_2008
7,243
ORDINARY RESOLUTIONS First resolution Approval of the Company’s financial statements for 2008 – parent only The Shareholders, having fulfilled the quorum and majority requirements pertaining to ordinary general meetings, and having reviewed the Management Board Reports, the Supervisory Board Report relative to the Mana...
97
annual_report
3648
2,916
The net amount at risk (“NAR”) for guarantees can change significantly during periods of sizable and sustained shifts in equity market performance, increased equity volatility, or changes in interest rates. The NAR disclosed in Note 7 of the Notes to the Consolidated Financial Statements, represents management’s estima...
113
10K
SwissReAG-AR_2000
32
The Board of Directors will propose to the Annual General Meeting an unchanged dividend of CHF 50 and, in addition, a capital repayment of CHF 8 per share. The nominal value of Swiss Re shares is currently CHF 10, and would reduce to CHF 2 after the capital repayment. In addition, the Board of
54
annual_report
2697
1,407
Upon receipt of the written approval of the South Dakota Director of Insurance, in the fourth quarter of 2003, Milbank repaid the $15.0 million surplus contribution note to Meridian Security that was entered into on September 30, 2002. The interest rate was equal to the U.S. Treasury ten-year note yield at September 30...
60
10K
4671
2,405
In 2007, the State of Florida enacted legislation to expand the Florida Hurricane Catastrophe Fund's ("FHCF") provision of below-market rate reinsurance to up to $28.0 billion per season (the "2007 Florida Bill"). In May of 2009, the Florida legislature enacted Bill No. CS/HB 1495 (the "2009 Bill"), which will graduall...
146
10K
LloydsBankingGroupPLC-AR_2011
3,764
Other segment items: Additions to tangible fixed assets 126 1,703 5 20 585 777 3,216
15
annual_report
AvivaPLC-AR_2010
1,066
3 Source: Mind the Gap – quantifying Europe’s pensions gap: Aviva & Deloitte, Sept 2010
15
annual_report
AvivaPLC-AR_2005
412
– The first Central European multi-let industrial fund – the Central European Industrial Fund.
14
annual_report
NatwestGroupPLC-AR_2018
1,890
NatWest Markets Plc left the UK DoLSub during 2018 and now manages its own liquidity portfolio, as required by ring-fencing legislation.
21
annual_report
AdmiralGroupPLC-AR_2013
1,285
Profit Commission Refer to pages 46 to 49 (Audit Committee statement), note 5 (accounting policy and financial disclosures).
18
annual_report
CNPAssurancesSA-AR_2012
362
The Foundation relies on the expertise of its Executive Committee, which draws half of its members from the medical sector, to select projects.
23
annual_report
HiscoxLtd-AR_2010
1,179
Insurance Contracts which specifies the financial reporting for insurance contracts by an insurer. The standard is only the first phase in the IASB’s insurance contract project and as such is only a stepping stone to Phase II, introducing limited improvements to accounting for insurance contracts. Accordingly, to the e...
50
annual_report
SwissReAG-AR_2016
4,633
In 2016, we started to implement the platform in our Corporate Real Estate Sourcing category, covering more than 50% of our expenditure in this area. Going forward, we plan to fully incorporate the platform into our sourcing processes across all sourcing categories. We have set ourselves the goal of including our tier ...
63
annual_report
4469
1,159
Because the equity index put option contracts meet the definition of a derivative, we report the fair value of these instruments in our consolidated balance sheets as a liability and record any changes to fair value in our consolidated statements of operations and comprehensive income (loss) as a net derivative gain (l...
113
10K
5488
1,380
The annual grant to each non-employee director consists of either restricted shares or restricted stock units, at the director’s election. Awards granted to non-employee directors were not material to Alleghany’s results of operations, financial condition or cash flows for the three years ended December 31, 2017.
46
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2012
1,755
Thereof: Interest and similar income 728 751 1,520 1,615 2,792 2,973 1,277 1,250 291 310 101 126 5 8 6,714 7,033 Interest charges and similar expenses 3 23 13 104 3 29 2 9 1 9 – 3 – – 22 177
42
annual_report
5657
1,348
As of December 31, 2018, our subsidiaries had unused lines of credit and commercial paper capacity aggregating approximately $7.3 billion to support short-term borrowing programs and provide additional liquidity. Such unused lines of credit included approximately $6.1 billion related to BHE and its subsidiaries.
44
10K
fr_axa-AR_2017
1,640
The Chairman of the Board of Directors, as well as the Chief Executive Off icer, although not members of the Committee, contribute to the work of the Committee and attend its meetings.
32
annual_report
ch_zurich_insurance_group-AR_2013
149
We take a focused approach to customers. That means understanding the needs of the customer segments we can serve profitably with superior propositions. We are investing in the capabilities needed to serve them and
34
annual_report
de_allianz-AR_2018
1,642
Pressure on operating investment income (net) to continue, due to reinvestments in a consistently low interest rate environment.
18
annual_report
5729
1,569
Pursuant to the terms of the Amended RSA Agreement, the Company granted to the former Chief Executive Officer a modified award of 350,000 shares of restricted common stock (the "2018 Modified Restricted Stock Award"). The Company deemed the 2018 Modified Restricted Stock Award to be taxable to the former Chief Executiv...
137
10K
gb_lloyds_banking_grp-AR_2016
1,073
External appointments: Non-Executive Director of United Utilities Group and Chair of their Remuneration Committee, a Governing Council Member of Cambridge University, Chairman of the Planning Inspectorate and Board member at the Higher Education Funding Council.
35
annual_report
2384
784
We recognized an extraordinary after-tax gain of $5.4 million in 2003, which was our share of negative goodwill recognized by FGIC Corporation resulting from the application of purchase accounting adjustments. In 2002, we realized a $7.2 million gain relating to the remaining balance of negative goodwill originally rec...
56
10K
4167
1,720
The Company utilizes a pricing service to estimate fair value measurements for approximately 99% of its fixed maturities. The pricing service utilizes market quotations for fixed maturity securities that have quoted prices in active markets. Since fixed maturities other than U.S. Treasury securities generally do not tr...
102
10K
3975
1,245
mix of business and also included 0.9 points related to favorable prior year loss development, compared to 0.5 points for 2007. The insurance segment's other operating expense ratio was 17.2% for 2008, compared to 16.2% for 2007, with the increase due in part to a lower level of net premiums earned in 2008. As discusse...
72
10K
RaiffeisenBankInternationalAG-AR_2018
2,606
The other termination benefits developed as follows: Defined benefit obligation 1/1 82,988 58,544
13
annual_report
1886
718
Insurers are rated on their financial strength and claims-paying ability to provide consumers with comparative information in the insurance industry. Among other factors, the ratings focus on items such as results of operations, capital resources and minimum policyholders’ surplus requirements as well as qualitative an...
45
10K
HiscoxLtd-AR_2010
1,205
Group may also recognise intangible items not previously recognised by the acquired entity such as customer relationships.
17
annual_report
5010
746
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of re...
87
10K
Sampoplc-AR_2013
1,575
Net cash frNet cash from operom operaating activitiesting activities 230230 1,0921,092
11
annual_report
2855
1,065
The total effect of income taxes on income and stockholders’ equity for the years ended December 31, 2005 and 2004 was as follows:
23
10K
HannoverRueckSE-AR_2017
522
With minority interests in two companies specialising in the assumption of capital market risks, we have closed this gap and thereby ensured that we are also able to meet this need on the part of primary insurers. In the year under review we were already able to realise some initial solutions in this area.
54
annual_report
AdmiralGroupPLC-AR_2018
876
*1. 2017/18 was the only year since 2008 in which we did not enter a team.
16
annual_report
5663
1,997
Represents circumstances where we believe credit events or other adverse conditions of the respective issuers have caused or will lead to a deficiency in the contractual cash flows related to the investment. The amount of the impairment recorded in earnings is the difference between the amortized cost of the debt secur...
76
10K
2240
1,041
• Increase in Oregon of 41,000 members primarily due to the addition 15,000 new members from two new accounts in our large group market and increases of 12,000 new members in our small group and individual market. The stable financial position of the Oregon plan has generated confidence in the carrier and has resulted ...
58
10K
1197
997
Year Ended December 31 1999 1998 1997 ----------------------------------------------------------------------------------------------------------- Numerator: [millions] Net income as used in basic calculation $ 460.3 $ 509.7 $ 22.1 Dividends on convertible preferred stock 0.1 0.1 0.1 ------ ------ ----- $ 460.4 $ 509.8 ...
40
10K
AdmiralGroupPLC-AR_2019
774
• Continue to encourage and respond to employee feedback and improve
11
annual_report
Sampoplc-AR_1999
407
cyholder ' with-profit insurance savings, which is at least the yield of a Finnish treasury bond. The total return consists of the guaranteed interest and bonuses determined annually on the basis of the company's performance. As for the level of the total return, continuity is purued. The aim is to maintain the compa­
53
annual_report
ScorSE-AR_2019
4,494
SCOR Global P&C The calculation of underwriting reserves (including IBNR – Incurred But Not Reported) which have a significant impact on the balance sheet and income statement, is largely based on contractual and accounting data provided by ceding companies, the relevance of which is verified upstream. This calculation...
99
annual_report
2510
1,439
New business as a percentage of written premium has remained relatively flat over 2003 and 2004 for Business Insurance and has increased for both Personal Lines automobile and homeowners. Personal Lines new business growth has been driven by rate increases filed in 2003 and 2004 and by the rollout of the Company’s new ...
94
10K
1879
438
Year ended December 31 ---------------------- 2002 2001 2000 ---- ---- ---- Gross realized gains on fixed maturities: $3,906 $35,276 $ 2,861 Gross realized (losses) on equity securities: (216) (25,704) (138,250) --- ------ ------- Net realized investment gains (losses) $3,690 $ 9,572 $(135,389) ===== ===== =======
45
10K
AegonNV-AR_2012
2,947
Coupons and premium on convertible core capital securities - (750) (63)
11
annual_report
NatwestGroupPLC-AR_2007
3,656
£m £m €250 million 4.70% CMS linked subordinated notes 2019 131 —
12
annual_report
1627
372
enhancing the results of the Company's commercial operations in 2001 was the introduction of a new technology initiative. This initiative centered on a web-based rating and underwriting system that allows the Company's agents to provide real time quotes on commercial business owners' policies, store those quotes and th...
73
10K
AegonNV-AR_2011
1,670
A.I.E., a separate legal entity. In addition, AEGON operates through partnerships with the financial entities Caja
16
annual_report