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3609
948
In conjunction with the issuance by the Company of the Series A Preferred Shares, the Company entered into a ‘‘Declaration of Covenant’’ for the benefit of the holders of the 7% Senior Notes. The Covenant states that the Company will redeem its Series A Preferred Shares only if the total redemption price is less than o...
101
10K
2851
907
In December 2005, we completed a transaction involving a new reinsurance company, Harbor Point Limited. As part of the transaction, we transferred our continuing reinsurance assumed business and certain related assets, including renewal rights, to Harbor Point. The transaction resulted in the recognition of a pre-tax r...
54
10K
494
490
Years Ended December 31, --------------------------- 1996 1995 1994 ------- ------- ------- (In thousands)
13
10K
2667
809
Basic earnings per weighted average common share ("EPS") are calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS are calculated by dividing net income available to common shareholders by the weighted average number...
99
10K
AegonNV-AR_2017
1,847
Development Policy), and continued to strengthen the Groupwide oversight of conduct risks, including the piloting of a broader set of conduct risk tests to support the Aegon Market
28
annual_report
3621
403
In February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities - Including an amendment of FASB Statement No. 115.” SFAS No. 159 permits all entities to choose to measure and report many financial instruments and certain other items at fair value at specified elect...
160
10K
4461
717
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), National Interstate Corporation and subsidiaries’ internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control - Integrated Framework issued by...
66
10K
PowszechnyZakladUbezpieczenSA-AR_2017
1,291
In recent years, the PZU Group has been very active in implementing innovative solutions. Activities in this area are supported by the Innovation Laboratory – a unit created with a view to verifying the latest technological trends and testing new solutions across the organization. Modern solutions are being created bot...
76
annual_report
PowszechnyZakladUbezpieczenSA-AR_2014
2,250
In 2013 and 2014 no employee stock ownership plans existed in PZU.
12
annual_report
5914
714
•Increased regulation adopted in response to potential changes in climate conditions may impact the Company and its customers, including state insurance regulations that could impact the Company’s ability to manage property exposures in areas vulnerable to significant climate driven losses. For example, one state passe...
160
10K
5011
1,781
Equity securities are carried at fair value. Cost basis for these securities was $927 million.
15
10K
3673
854
Consolidated Statements of Earnings for the years ended December 31, 2008, 2007, and 2006
14
10K
243
150
During 1995, Life and Annuity (excluding Primerica Life Insurance Company discussed below) issued $6.2 billion of face amount of individual life insurance, down from $9.2 billion during 1994, bringing total life insurance in force to $49.2 billion at year-end 1995, up from $48.4 billion at year-end 1994 (excluding Tran...
97
10K
AssicurazioniGeneraliSpA-AR_2019
4,122
Fi na nc ia l l ia bi lit ie s de si gn at ed a t f ai r v al ue th ro ug h pr ofi t o r l os s 3, 2, 1, 4, 3,
41
annual_report
HiscoxLtd-AR_2004
68
We have the wonderful advantage of being able to use Lloyd’s for internationally traded business and our regional offices and companies for local retail business. We focus on our specialist areas (both of business and geographically) which have substantial growth potential and we stick to our knitting.
47
annual_report
fr_axa-AR_2003
731
Consolidated Adjusted Earnings and Net Income by activity Years ended December 31,
12
annual_report
TrygAS-AR_2019
1,217
Risk-takers independent control functions 4 6 0 0 1 7 a) Total expenses in 2018 for matching shares programs allocated in 2018 and previous year.
25
annual_report
PosteItalianeSpA-AR_2016
2,786
• Purchases from the Leonardo Group primarily relate to the supply, by Leonardo SpA, of equipment, maintenance and technical assistance for mechanised sorting equipment, and systems and IT assistance regarding the creation of document storage facilities, specialist consulting services and software maintenance, and the ...
51
annual_report
231
637
At December 31, 1995, the mortgage loan balance was primarily comprised of commercial loans, including multifamily residential loans. Approximately 40 percent, 9 percent and 7 percent of the mortgage loan balance were on properties located in California, Texas and Indiana, respectively. No other state comprised greater...
86
10K
fr_axa-AR_2013
3,335
Total number of shares to be subscribed (a) or purchased, from which to be subscribed or purchased by: 22,846 10,619 4,274 27,772 12,758 8,598,469 154,705 375,988 4,508,380 76,089 3,480,637
29
annual_report
ch_zurich_insurance_group-AR_2019
3,849
Auditor’s responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is...
117
annual_report
2844
925
Resulting purchases and sales of investments are based on cash requirements, the characteristics of the insurance liabilities and current market conditions. The Company identifies investments to be sold to achieve its primary investment goals of assuring the Company’s ability to meet policyholder obligations as well as...
53
10K
5152
1,386
The following table summarizes calendar year net loss ratios by separating losses between the current accident year and all prior accident years. Additionally, the table shows our current accident year net loss ratio was affected by revisions to our estimate of premiums owed to reinsurers related to coverages provided ...
70
10K
2641
517
General and administrative expenses from continuing operations were 8.5%, 10.7% and 10.5% of gross premiums earned in 2002, 2003 and 2004, respectively. An increase in employee related expenses and fees paid to state insurance departments contributed to the $1.0 million increase in expense in 2003. General and administ...
143
10K
fr_axa-AR_2019
4,361
Group Chief Risk Off icer chairs the Chief Risk Off icers’ meeting composed of the Chief Risk Off icers of AXA’s main subsidiaries, that meets on a quarterly basis and have monthly calls.
33
annual_report
AssicurazioniGeneraliSpA-AR_2018
2,140
Investments operating charges and other charges: Charges relating to equities 11
11
annual_report
1889
599
The number of claims reported but unpaid (open claims) and the approximate average gross and net reserves on these claims each period was: 2002 - 1,381 claims, $9,700 average gross reserve, $9,000 average net reserve; 2001 - 670 claims, $26,900 average gross reserve, $17,500 average net reserve; and 2000 - 344 claims, ...
144
10K
5404
1,305
Prior to May 2013, the Company was an indirect, wholly owned subsidiary of ING Groep N.V. ("ING Group" or "ING"), a global financial services holding company based in The Netherlands. In May 2013, Voya Financial, Inc. completed its initial public offering ("IPO") of common stock, including the issuance and sale of comm...
128
10K
RSAInsuranceGroupPLC-AR_2010
2,207
(IAS 19). The assets, liabilities and income statement charge, calculated in accordance with IAS 19, are sensitive to the assumptions made from time to time, including inflation, interest rate, investment return and mortality. IAS 19 compares, at a given date, the current market value of a pension fund’s assets with it...
104
annual_report
StandardLifeAberdeenPLC-AR_2014
663
On 6 January 2015, the Company redeemed in full the Euro denominated 5.314% fixed/floating rate perpetual Mutual Assurance Capital Securities at their outstanding principal amount of €360,000,000.
27
annual_report
TrygAS-AR_2010
2,017
Claims incurred + insurance operating expenses + result of reinsurance x 100
12
annual_report
ch_zurich_insurance_group-AR_2007
1,742
Investment result, net for Group 1 Including net capital losses on derivative financial instruments of USD 33 million and USD 44 million for the years ended December 31, 2007 and 2006, respectively, of which net capital losses on derivatives attributable to cash flow hedges ineffectiveness of USD 9 million for the year...
58
annual_report
fr_axa-AR_2007
3,918
The Group applies the IAS39 fair value hierarchy as described below. Fair values of financial assets traded on active markets are determined using quoted market prices when available. A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange, ...
74
annual_report
1389
557
For the years ended December 31, 2000, 1999 and 1998, reinsurance recoveries, which reduced loss and loss expenses incurred, amounted to $6.00 billion, $5.13 billion and $5.36 billion, respectively.
29
10K
fr_axa-AR_2017
4,893
■ Impact of rate differences on notional tax charges (-1 point) corresponded to the difference between the expected tax calculated at each entity level with the applicable standard rate and the tax calculated using the 34.43% French tax rate applicable to the Company. This tax rate is composed of a basic tax rate (33.3...
71
annual_report
5743
652
Net foreign exchange losses for 2019 were $9.3 million, compared to net foreign exchange gains for 2018 of $58.7 million. Amounts in such periods were primarily unrealized and resulted from the effects of revaluing our net insurance liabilities required to be settled in foreign currencies at each balance sheet date.
50
10K
2081
475
Investments The Company classifies its investments held as available for sale and accounts for them at fair value with unrealized gains and losses, net of taxes, excluded from earnings and reported as other comprehensive income. The Company classifies available-for-sale securities as current if the Company expects to s...
73
10K
2445
641
The American Medical Association et al. v. Metropolitan Life Insurance Company, United HealthCare Services. Inc. and UnitedHealth Group. On March 15, 2000, the American Medical Association filed a lawsuit against the company in the Supreme Court of the State of New York, County of New York. On April 13, 2000, we remove...
275
10K
4523
2,666
Expected loss ratio methods are given the greater weight for the more recent accident years. For the year-end 2012 loss reserve review, the structural drivers approach which was applied to open reported claims from accident years 2003 and prior, was deemed to be most suitable for informing our judgment of the ultimate ...
131
10K
de_allianz-AR_2001
1,239
In the banking area, the volatility risk primarily concerns trading activities, which are shown in the institution’s trading portfolio. Unlike the latter, the non-trading portfolio, which contains customer business and strategic investments, is exposed to long-term factors. In this case, the market risk is essentially ...
77
annual_report
fr_axa-AR_2012
4,898
The main characteristics of the accounting principles applied prior to IFRS and retained after the conversion to IFRS are as follows: ■ r eserves must be suffi cient; ■ l ife reserves cannot be discounted using a discount rate higher than prudently estimated expected assets yield; ■ a cquisition costs are deferred to t...
104
annual_report
PhoenixGroupHoldingsPLC-AR_2014
1,687
(dd) GENERAL BUSINESS The general insurance business has been closed to new business for a number of years and is in run-off. The results are included within other operating income in the consolidated income statement. Provisions are made for the estimated cost of claims, including claims incurred but not reported afte...
77
annual_report
AssicurazioniGeneraliSpA-AR_2019
4,925
GGI Senior Infrastructure Debt GP S.à r.l. 092 EUR 12,000 a 11 100.00 Generali Global Infrastructure S.A.S. 100.00 51.03
19
annual_report
701
316
The NAIC is in the process of codifying statutory accounting practices (Codification). Codification will likely change, to some extent, prescribed statutory accounting practices and may result in changes to the accounting practices that the Company's insurance subsidiaries use to prepare their statutory-basis financial...
129
10K
NatixisSA-AR_2020
4,258
Inflows from fully performing exposures 21,764 21,892 20,966 19,084 20,454 20,617 19,776 17,965
13
annual_report
4693
1,731
Effective July 1, 2009, the reinsurance agreement was amended and restated to change the reinsurance basis from coinsurance to a combined coinsurance and coinsurance funds withheld basis. On July 31, 2009, SLDI transferred assets with a market value of $3.2 billion to the Company and the Company deposited those assets ...
156
10K
5347
594
Certain commission amounts are subject to forfeiture if the policy is subsequently cancelled and either the carrier takes back all or a portion of the commission they have paid to us or we will no longer receive monthly commission payments for the remainder of the plan year. We record an estimate for these forfeitures ...
233
10K
ScorSE-AR_2018
1,507
This variable compensation is designed to encourage the Chairman and Chief Executive Officer to achieve the annual performance objectives fixed by the Board of Directors on the proposal of the Compensation and Nomination Committee, in line with the Company’s strategy. In accordance with the AFEP-MEDEF Code, the potenti...
61
annual_report
2853
1,066
2) Specialty reinsurance written for our own account and DaVinci covering certain targeted classes of business where we believe we have a sound basis for underwriting and pricing the risk that we assume; our portfolio in 2005 includes various classes of business, such as catastrophe exposed workers’ compensation, suret...
96
10K
3986
3,119
On April 1, 2009, the FASB issued additional guidance on estimating fair value, when the volume and level of activity for the asset or liability have significantly decreased, as well as guidance on identifying circumstances that indicate a transaction is not orderly. The Company reviewed its pricing sources and methodo...
76
10K
RSAInsuranceGroupPLC-AR_2010
3,399
RSA offers shareholders the opportunity to use their dividends to buy more ordinary shares in the Company by participating in the Company’s
22
annual_report
fr_axa-AR_2018
6,904
Net book value on the sale of fixed assets (6,422) (197)
11
annual_report
ASRNederlandNV-AR_2009
1,035
3 valuation not based on available market information. At level 3, the fair value of the assets and liabilities is determined in full or in part by using a valuation method that refers to non-observable market variables. in these situations, there are minimally or non-active markets for the assets or the liabilities. T...
108
annual_report
4317
1,170
The following is a breakdown of the major factors contributing to this increase:
13
10K
SwissLifeHoldingAG-AR_2005
537
Supervisory and control instruments vis-à-vis the auditors The Audit Committee maintains regular contact with the external auditors. It assesses the quality of the external reporting, ascertains the independence of the statutory auditors and identifies possible conflicts of interest. Representatives from the external a...
87
annual_report
LloydsBankingGroupPLC-AR_2007
868
The principal collateral types for loans and advances are: • Mortgages over residential properties; • Charges over business assets such as premises, inventory and accounts receivable; • Charges over financial instruments such as debt securities and equities; • Guarantees received from third parties.
43
annual_report
HelvetiaHoldingAG-AR_2012
1,274
Interest income from investments at fair value through profit or loss stood at CHF 36.0 million (previous year: CHF 35.2 million).
21
annual_report
3191
1,227
Reinsurance is one of the tools that the Company uses to accomplish its business objectives. A variety of reinsurance vehicles are currently in use, including individual and bulk arrangements on both coinsurance and mortality/morbidity only basis. Reinsurance supports a multitude of corporate objectives including manag...
116
10K
AegonNV-AR_2008
1,247
Board in 2007 and his current term will end in 2011. He is also a member of the Supervisory Boards of Akzo Nobel N.V.
24
annual_report
HelvetiaHoldingAG-AR_2016
1,619
Based on notice periods, tenancies generated operating lease receivables for the Helvetia Group of CHF 73.2 million (previous year: CHF 68.7 million) due in less than one year, CHF 153.1 million (previous year: CHF 152.0 million) due between one and five years, and CHF 40.4 million (previous year: CHF 34.6 million) due...
57
annual_report
LloydsBankingGroupPLC-AR_2018
5,090
Rental income of £197 million (2017: £213 million) and direct operating expenses arising from properties that generate rental income of £23 million (2017: £24 million) have been recognised in the income statement.
32
annual_report
4160
491
During fiscal 2010, the Company has focused its primary efforts on the development and marketing of its surety business in West Virginia and Ohio, arranging reinsurance and other potential strategic relationships that will accelerate the progression of the Company's business plan, and, raising additional capital to inc...
65
10K
PosteItalianeSpA-AR_2015
1,236
Framework, which has been adjusted in line with the revised Business Plan.
12
annual_report
5272
894
HR Solutions segment revenues consist primarily of fees paid by clients for consulting advice and outsourcing contracts. Fees paid by clients for consulting services are typically charged on an hourly, project or fixed-fee basis. Revenues from time-and-materials or cost-plus arrangements are recognized as services are ...
257
10K
5890
1,367
A summary of time-based and performance-based RSU activity under the plans at December 31, 2020, and changes during the year then ended, is presented below:
25
10K
5518
3,196
On April 28, 2017, two surplus note obligations due to MetLife, Inc. totaling $1.1 billion, which were originally issued in 2012 and 2013, were due on September 30, 2032 and December 31, 2033 and bore interest at 5.13% and 6.00%, respectively, were satisfied in a non-cash exchange for $1.1 billion of loans due from Met...
56
10K
fr_axa-AR_2012
5,472
The amortization period for intangible assets recognized in business combinations with a fi nite useful life ranges from 10 to 20 years.
22
annual_report
5057
8,620
In 2015, 97% of Phoenix product sales, as defined by total annuity deposits and total life premium, were annuities, and 96% of those sales were fixed indexed annuities. In addition, we have expanded sales of other insurance companies’ policies through our distribution subsidiary, Saybrus Partners, Inc. (“Saybrus”).
47
10K
530
169
The maturities of portfolio bonds are considered to be sufficiently diversified and are carefully monitored and managed in light of C.M. Life's liquidity needs. See "Liquidity and Capital Resources".
29
10K
4315
969
In addition to catastrophe treaties, we also have a commercial property per risk treaty. This treaty provides up to approximately $800 million (depending upon the currency in which the insurance policy was issued) of coverage per risk in excess of our initial retention, which is generally between $25 million and $35 mi...
52
10K
fr_axa-AR_2016
7,649
In the tables above, the fourth column includes derivatives that do not qualify for hedge accounting under IAS 39, but whose objective is nevertheless to provide economic hedging of a risk, with the exception notably of certain credit derivatives. They also include “macro-hedging” derivatives as defi ned by the IASB in
51
annual_report
5765
545
The following is a discussion and analysis of our financial condition and results of operations for the twelve months ended December 31, 2019, 2018 and 2017. This discussion and analysis should be read in conjunction with our audited consolidated financial statements and Notes to Consolidated Financial Statements set f...
136
10K
DirectLineInsuranceGroupPLC-AR_2016
2,857
Profit before tax 353.0 507.5 Expected tax charge 70.6 102.8 Effects of: Disallowable expenses 9.7 7.8 Effect of change in corporation taxation rate (1.0) (0.7) Over provision in respect of prior year (5.1) (1.6)
34
annual_report
4098
1,778
Elements of the securities lending program is presented in Note 3 of the Notes to the Consolidated Financial Statements under “- Investments - Securities Lending.”
25
10K
fr_axa-AR_2017
2,033
During the performance period, all performance shares initially granted are integrally subject to performance conditions regardless of the beneficiary’s status. These criteria measure both the financial and operational performance of the AXA Group as well as the beneficiary’s operating business performance, according t...
45
annual_report
3610
1,410
The loss and loss expense ratio for the year ended December 31, 2006 was 59.0% compared to 105.7% for the year ended December 31, 2005. Net favorable development recognized in the year ended December 31, 2006 reduced the loss and loss expense ratio by 8.9 percentage points. Thus, the loss and loss expense ratio related...
157
10K
LloydsBankingGroupPLC-AR_2009
6,627
Past due but not impaired – 12,587 1,873 5,118 19,578 –
11
annual_report
3272
951
The Company is subject to concentration of credit risk with respect to reinsurance ceded to CAR. At December 31, 2006 and 2005, respectively, reinsurance receivables on paid and unpaid loss and LAE with a carrying value of $77,246 and $84,099 and ceded unearned premiums of $29,937 and $32,186 were associated with CAR. ...
122
10K
ch_zurich_insurance_group-AR_2018
2,946
Realized gains/(losses) recognized in income 1 – (1) (20) Unrealized gains/(losses) recognized in income 1 38 (3) 128
18
annual_report
StorebrandASA-AR_2002
330
Inflows to mutual funds and the profitability of asset management are highly correlated to global equity market performance, as the chart on the following page shows.
26
annual_report
RSAInsuranceGroupPLC-AR_2011
262
• Improve the customer experience We aim to define more clearly the sales, service and claims promises for our customers and to deliver them more consistently every time. We will focus on retaining our existing customers and improve our customer proposition to target new ones
45
annual_report
Sampoplc-AR_2001
1,077
estimate both expected and unexpected credit losses, i.e. the required economic capital. The measurements are based essentially on the probabilities of future defaults by customers, deduced from the ratings, and on the expected credit losses following these defaults, depending on the exposures, collateral and other rec...
89
annual_report
5957
1,773
As of December 31, 2020 and 2019, the Company had outstanding commercial mortgage loan commitments of $801.1 million at an average rate of 3.91% and $757.4 million at an average rate of 3.99%, respectively.
34
10K
4955
944
• our expectation that we would be in a three-year cumulative income position in 2013;
15
10K
HannoverRueckSE-AR_2003
332
As part of a capital increase against a contribution in kind, Talanx AG transferred its shares in HDI Reinsurance (Ireland) Ltd. to Hannover Re effective 1 July 2003. Further information is provided in section 4 "Major acquisitions/new establishments".
38
annual_report
4839
739
We record deferred charges with respect to liabilities assumed under retroactive reinsurance contracts. At the inception of these contracts, the deferred charges represent the excess, if any, of the estimated ultimate liability for unpaid losses over the consideration received. Deferred charges are amortized using the ...
151
10K
HelvetiaHoldingAG-AR_2016
2,246
Employer contributions to pension funds 1 645 369 1 372 060
11
annual_report
2392
2,196
At the September 2004 meeting, the EITF reached a consensus with respect to Issue No. 04-8, “Accounting Issues Related to Certain Features of Contingently Convertible Debt and the Effect on Diluted Earnings per Share.”
34
10K
NatixisSA-AR_2020
9,569
At December 31, 2019, negative interest was presented net of positive interest on financial assets and liabilities, respectively.
18
annual_report
NatwestGroupPLC-AR_2010
2,001
Credit risk assets: Asset quality* Using the PD models described previously, customers are assigned credit grades and scores, which are used for internal management reporting across portfolios, including a Group level asset quality scale, as shown below.
37
annual_report
3661
2,258
The Accumulated Covered Expense (“ACE”) rider is an optional benefit rider available with certain scheduled/basic health insurance products that provides for catastrophic coverage for covered expenses under the contract that generally exceed $100,000 or, in certain cases, $75,000. This rider pays benefits at 100% after...
140
10K
4171
1,168
The Company’s risk limits are stated as explicit numerical expressions, such as total aggregate limits in a catastrophe zone, earned premium for casualty business, the market value of equity and equity-like securities and an extreme scenario for longevity business. Executive and Business Unit Management set additional ...
113
10K
4242
1,463
Our combined allowances for doubtful accounts, uninsured discounts and charity care covered 96.5% and 84.0% of combined self-pay and self-pay after primary accounts receivable as of June 30, 2009 and 2010, respectively. The period over period decrease is due to the implementation of our uninsured discount policy at our...
58
10K
de_allianz-AR_2010
1,516
Net cash inflow provided by financing activities amounted to € 4.5 billion in 2010, compared to € 3.6 billion in 2009. This was largely driven by lower net cash outflows from our refinancing activities. 3 In addition, net cash outflows from the redemption of external liabilities to banks and customers declined. Higher ...
74
annual_report
PosteItalianeSpA-AR_2019
9,008
Revenue), notified by postal service to the complainant. The complaint asked the Board of Statutory Auditors previously in office to investigate the adequacy of the internal control system and the management of inefficiencies, as well as the “alleged misappropriation or error of employees in the performance of their du...
76
annual_report
ASRNederlandNV-AR_2019
139
Ke y s tra teg ic pri nciple: Value over volum e Stra tegic principles
15
annual_report
272
470
Policy acquisition costs as a percentage of net premiums earned decreased from a ratio of 51.6% or $31,898,000 in 1994 to 50.1% or $33,709,000 in 1995. The decrease is attributable to a combination of an increase in contingent commissions recorded by the Company from its reinsurers based on the experience of the excess...
66
10K
4131
1,588
The Company files income tax returns with various federal, state and foreign jurisdictions. The Company’s U.S. federal income tax return for 2007 and 2008 remain open for examination. The Internal Revenue Service completed their audit of the Company’s 2005 and 2006 tax returns in January 2010 and will commence their au...
92
10K
NatixisSA-AR_2018
5,043
INTERNAL CONTROL 5.5 PROCEDURES RELATING TO ACCOUNTING AND FINANCIAL INFORMATION 447
11
annual_report
NatwestGroupPLC-AR_2020
6,107
Any failure in NatWest Group’s cybersecurity policies, procedures or controls, may result in significant financial losses, major business disruption, inability to deliver customer services, or loss of data or other sensitive information (including as a result of an outage) and may cause associated reputational damage. ...
61
annual_report