report_id
stringlengths
1
60
paragraph_nr
int64
0
28.3k
text
stringlengths
21
14.6k
n_words
int64
11
2.31k
filing_type
stringclasses
2 values
3063
551
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires the Company’s management to make significant estimates and assumptions based on information available at the time the financial statements are prepared. In addition, manage...
195
10K
4977
1,430
The sum of the estimated cash flows shown for all years of $137.8 billion exceeds the liability amount of $95.9 billion included on the consolidated balance sheets principally due to (i) the time value of money, which accounts for a substantial portion of the difference; (ii) differences in assumptions, between the dat...
77
10K
4384
599
We also own a 42% controlling interest in Chem-Mod LLC, which has been marketing its Chem-Mod™ Solution technologies principally to coal-fired power plants owned by utility companies, including those utilities that are operating with the IRC Section 45 clean coal production plants in which we hold investments. To date,...
96
10K
2065
764
The Company is subject to insurance guaranty fund laws in the states in which it does business. These laws assess insurance companies amounts to be used to pay benefits to policyholders and policy claimants of insolvent insurance companies. Many states allow these assessments to be credited against future premium taxes...
72
10K
3968
649
* Deconsolidation of trusts liable for Trust Preferred Securities required by accounting guidance. See Note 10-Debt in the Notes to Consolidated Financial Statements.
23
10K
1646
220
Premiums assumed from other reinsurers of $4.2 million during 2000 were relatively unchanged from 1999 although 2000's premium included $1.7 million of reinstatement premium attributable to losses occurring in late 1999. Without this premium, reinsurance assumed volume would have decreased 37% from the prior year. Pric...
58
10K
2976
1,213
For segment reporting purposes we have identified two reportable segments: the Canadian segment and the U.S. segment. The Canadian segment represents an aggregation of our five Canadian based hubs and our U.S. segment represents an aggregation of our 13 U.S. based hubs. Adjustments to reconcile segment results to conso...
66
10K
NatwestGroupPLC-AR_2010
1,766
Regulatory developments Basel III and CRD IV The Basel Committee released the final text on the new Basel III Capital and Liquidity Frameworks in December 2010, the contents of which were broadly as expected. Whilst most of the new rules are ‘final’ there are lengthy observation periods for the more novel elements (the...
148
annual_report
4014
1,022
(1)The outlook of the rating of each company is negative, except for the outlook of the ratings of AG Re, AGRO and AGMIC, which is stable. AAA (Extremely Strong) rating is the highest ranking and AA (Very Strong) is the third highest ranking of the 22 ratings categories used by S&P. Aa3 (Excellent) is the fourth highes...
196
10K
1894
954
As of the close of 2002, DHC had a consolidated net operating loss carryforward of $605,789 for Federal income tax purposes. The net operating loss carryforward will expire in various amounts, if not used, between 2003 and 2019. The Internal Revenue Service has not audited any of DHC's tax returns for any of the years ...
79
10K
5863
725
The Company’s estimate of medical costs payable represents management’s best estimate of its liability for unpaid medical costs as of December 31, 2020.
23
10K
Sampoplc-AR_2001
483
Ltd at the end of October. The administration of mutual funds managed by
13
annual_report
AegonNV-AR_2018
1,650
• Number of companies engaged as part of Aegon’s approach to responsible investment
13
annual_report
AegonNV-AR_2015
5,853
and the products offered. Additionally, the laws or regulations adopted or amended from time to time may be more restrictive or may result in higher costs than currently the case, such as with regard to the calculation of capital needs, treatment of own funds, rules or guidance with respect to the modelling of insuranc...
92
annual_report
5860
943
● potential technology breaches or failure of our or our business partners’ systems;
13
10K
5811
1,034
The favorable development recognized in 2020 resulted primarily from trend factors in late 2019 developing more favorably than originally expected as well as a smaller contribution from completion factor development.
30
10K
HannoverRueckSE-AR_2007
786
Liabilities related to assets classified as held for sale 5.2 – 2,540,847
12
annual_report
1921
622
From and after February 1, 2004, Willis North America may redeem the Notes, in whole or in part, at a redemption price equal to 104.5% of the aggregate principal amount of the Notes being redeemed in 2004, which percentage declines by 1.5% per annum over the next years to 100% in 2007, plus accrued and unpaid interest.
57
10K
ScorSE-AR_2013
5,844
(1) Director whose appointment ended on 25 April 2013 (2) Directors appointed by the Annual Ordinary General Meeting of the Shareholders of 25 April 2013 (3) Guillaume Sarkozy represents Malakoff Médéric Group, member of the Board. (4) Mr Charles Gave lives in Hong Kong
44
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2007
278
The talk was nearly always of hurricane damage in Florida or New Orleans, but en route the hurricanes had usually left a trail of destruction across the Caribbean. The Caribbean Islands are an exposed region in which governments were unable to insure themselves against natural catastrophe losses. This has now changed. ...
102
annual_report
ch_zurich_insurance_group-AR_2009
1,328
Net investment result on unit-linked investments (21,731) (21,731) Net gain/(loss) on divestments of businesses 16 16
16
annual_report
NatixisSA-AR_2018
10,945
NON-FINANCIAL PERFORMANCE REPORT Managing environmental & social risks 479Natixis Registration Document 2018
12
annual_report
2558
459
Insurance Agency. In July 2002, we formed Ultimate Services Agency, LLC (“USA”), a wholly-owned subsidiary. We formed USA to act as an agency for placing property/casualty insurance policies offered and underwritten by Ohio Indemnity and by other property/casualty insurance companies. In the fourth quarter of 2002, we ...
64
10K
de_allianz-AR_2012
2,242
3 For further information, please refer to note 19 to the consolidated financial statements.
14
annual_report
4265
3,886
For securities where we recorded an OTTI recognized in net income (loss) for the years ended December 31, 2010 and 2009, the recovery as a percentage of amortized cost was 80% and 72% for corporate bonds, respectively, and 0% and 33% for ABS CDOs, respectively.
45
10K
PhoenixGroupHoldingsPLC-AR_2014
466
The Group’s headroom above the IGD regulatory capital policy at 31 December 2014 was £0.5 billion (2013: £0.5 billion).
19
annual_report
1120
330
Interest revenue $17,269,000 $11,167,000 Interest expense 7,988,000 3,839,000 ----------- ----------- Net interest income $ 9,281,000 $ 7,328,000 ----------- -----------
19
10K
5704
1,038
The Company has a three-year secured revolving credit agreement (“Credit Agreement”) with Fifth Third Bank that expires on December 5, 2021. The Credit Agreement provides the Company with borrowing capacity of up to $65,000 and bears interest at an annual rate equal to monthly-determined LIBOR plus a margin based on th...
150
10K
2179
2,182
On February 10, 2003, but effective as of January 1, 2003, the Company acquired 80% of the business of an employer medical stop-loss MGU and an affiliated entity (the "Acquired MGUs"). The acquisition was accomplished by the formation of Voorhees Risk Management LLC d.b.a. Marlton Risk Group ("Marlton") into which the ...
149
10K
AegonNV-AR_2011
3,331
The euro is also the currency of the primary economic environment in which the Company operates. Each company in the Group determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency. Transactions in foreign currencies are initially re...
61
annual_report
gb_lloyds_banking_grp-AR_2005
2,081
Total equity and liabilities 7,766 159 7,925 9 Approval of the financial statements and other information
16
annual_report
INGGroepNV-AR_2007
2,910
For the direct market risks, the actual VaR (measured at a 99% confi dence interval, a one day holding period and under the assumption of an expected value of zero) of the trading and non-trading portfolios is taken as a starting point for the Economic Capital calculations for market risk. To arrive at the Economic Cap...
101
annual_report
5272
771
Reconciliation of organic revenue growth to reported Commissions, fees and other revenue growth for 2016 versus 2015 is as follows:
20
10K
HelvetiaHoldingAG-AR_2016
851
The additional amount for each new member of the Executive Management may not exceed 25 % and for a new CEO (promoted or new employee) 40 % of the most recently approved total amount for the maximum compensation to be paid to the Executive Management (see also the explanations to Art. 5.2 from page 75 in the chapter on...
109
annual_report
INGGroepNV-AR_2012
3,459
As ING Bank’s risk disclosure has been striving to generate the same high-quality and transparent description of its risk, it embraces the EDTF principles and recommendations and used it to further fine-tune its practice on risk disclosures. ING Bank is of the opinion that disclosures should be clear, balanced and unde...
89
annual_report
NatixisSA-AR_2014
7,307
COFACE CHILE -SUCC (COFACE SA) Insurance FC 41 41 100 100 Chile
12
annual_report
de_allianz-AR_2001
778
Total premium income rose by 696 million euros or 5.8 percent to 12.6 billion euros.
15
annual_report
AvivaPLC-AR_2005
2,132
For funding purposes, the scheme was valued as at an effective date of 1 April 2005, on a market value basis using the Projected Unit Method.
26
annual_report
5276
2,624
There were no unrecognized tax benefits at December 31, 2016 and 2015.
12
10K
ch_zurich_insurance_group-AR_2011
3,370
The following tables set out additional details of the options outstanding for members of the GEC as at December 31, 2011 and 2010, respectively. Further details can be found in the unaudited Remuneration report, pages 48 to 73.
38
annual_report
gb_prudential-AR_2019
2,420
These principles were the basis for the decisions taken by the Committee, including the treatment of outstanding share awards which was set out in the Shareholder Circular published on 25 September 2019 and voted upon and approved by shareholders at the October 2019 General Meeting. This treatment, together with adjust...
84
annual_report
5532
1,086
At December 31, 2018, the cumulative number of reported claims for the Commercial & Specialty Business was 120, 117 and 85 for the claim years 2016 and prior, 2017 and 2018, respectively.
32
10K
StandardLifeAberdeenPLC-AR_2019
2,135
Where gaps are identified in our succession plans, we are proactive in enhancing our talent pool through selective and focused external hiring, as well as through development. Our recruitment effectiveness has improved, through a combination of active market intelligence, innovative candidate attraction/assessment tech...
66
annual_report
1542
733
CONSOLIDATED STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2000, 1999 AND 1998 (DOLLARS IN MILLIONS, EXCEPT PER SHARE DATA)
21
10K
fr_axa-AR_2007
7,029
a) After tax income, before depreciation, amortization and releases 0.51 0.33 0.65 0.75 1.08 b) After tax income, after depreciation, amortization and releases 0.49 0.27 0.61 0.68 0.86
28
annual_report
2913
201
(1) Results for the three months ended December 31, 2005 include the net gain of $0.4 million recorded from the recapture by USFL of all of the universal life policies that had previously been assumed by MLOA under its MODCO agreement with USFL and the net gain of $1.9 million from the unwinding of the MODCO transactio...
86
10K
5775
682
The Company reported net income of $682 million in 2019 compared to $641 million in 2018. The 6% increase in net income was primarily due to an after-tax increase in underwriting income of $91 million, an increase in income from minority interest of $6 million, an after-tax decrease in interest expense of $3 million, a...
159
10K
AssicurazioniGeneraliSpA-AR_2017
2,866
, d eb t s ec ur iti es a nd o th er f ix ed -in co m e se cu rit ie s, pa rti ci pa tio n in in ve st m en t p oo ls an d ot he r f in an ci al in ve st m en ts
58
annual_report
HiscoxLtd-AR_2018
956
Arrangements tailored to roles and responsibilities are operated for selected positions. Bonuses for more junior employees are calculated using a more formulaic approach. Further details are set out on page 73.
31
annual_report
3784
735
The increase in claims paid including LAE in 2007 compared to 2006 was primarily due to higher claim rates and higher average claim sizes as well as home price declines, as discussed above. For a discussion of the changes in net loss reserves in 2008 and 2007, see Conditions and Trends Affecting our Business-U.S. Mortg...
60
10K
HannoverRueckSE-AR_2019
3,835
The German Public Auditor responsible for the engagement is Mathias Röcker.
11
annual_report
nl_ing_grp-AR_2010
409
The mortgage market share was up to 16.6% in 2010 (monthly new production), with net production in residential mortgages at EUR 5.5 billion. Funds entrusted increased by a modest EUR 0.4 billion, while volumes in lending decreased due to low demand.
41
annual_report
gb_lloyds_banking_grp-AR_2010
6,705
No dividends were paid on ordinary shares during 2009 or 2010 and the directors do not propose to pay a final dividend in respect of 2010; in November 2009, as part of the restructuring plan that was a requirement for European Commission approval of state aid received by the Group, the Group agreed to suspend the payme...
100
annual_report
2803
313
With respect to Old Republic's small life and health insurance operations, reserve adequacy may be affected adversely by greater than anticipated medical care cost inflation as well as greater than expected frequency and severity of claims. In life insurance, as in general insurance, concentrations of insured lives cou...
58
10K
3908
2,056
Income on unrated tranches of collateralized debt obligations is reflected only to the extent the Company’s principal has been fully recovered. This is not considered to be a fair value measurement under FAS 157 and accordingly these investments have been excluded from FAS 157 disclosures. These investments are carried...
86
10K
2964
853
On July 11, 2005, we announced that an agreement was reached with representatives of more than 700,000 physicians nationwide involved in two multi-district class-action lawsuits against us and other health benefits companies. As part of the Multi-District Litigation Settlement Agreement, or the Agreement, we agreed to ...
163
10K
5811
1,249
Our statutory basis insurance and HMO subsidiaries are subject to risk-based capital (“RBC”) requirements. RBC is a method developed by the NAIC to determine the minimum amount of statutory capital appropriate for an insurance company or HMO to support its overall business operations in consideration of its size and ri...
174
10K
5560
969
In February 2016, the FASB issued guidance on leases. Under this guidance, a lessee is required to recognize lease liabilities and corresponding right-of-use assets for leases with terms of more than one year, whereas under current guidance, a lessee is only required to recognize assets and liabilities for those leases...
204
10K
SwissReAG-AR_1981
401
Consolidated Balance Sheet cf. notes on page 43 in millions of Swiss francs
13
annual_report
1898
357
The primary investment objectives of the Company are to generate income, preserve capital and maintain adequate liquidity for the payment of claims. Fixed maturities that may be sold due to changing investment strategies are categorized as available for sale and are carried at fair value. At December 31, 2002, the Comp...
83
10K
2518
397
There were no non-investment grade fixed income or equity securities in an unrealized loss position at December 31, 2004 or 2003.
21
10K
3578
1,242
We adopted FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes, an interpretation of FAS 109, Accounting for Income Taxes (FIN 48) as of its effective date, January 1, 2007. FIN 48 creates a single model to address accounting for uncertainty in tax positions and clarifies the accounting for income ta...
114
10K
5108
1,688
Acquisition costs vary with and are directly related to the acquisition of (re)insurance contracts and consist primarily of fees and commissions paid to brokers and premium taxes. Premiums receivable are presented net of applicable acquisition costs when contract terms provide for the right of offset. Acquisition costs...
72
10K
nl_ing_grp-AR_2011
417
For more information see the chapters ‘Capital management’ and ‘Financial and regulatory environment’.
13
annual_report
1820
398
On February 15, 1999, the Company acquired the assets and certain liabilities of MedCap Medical Cost Management, Inc., a California corporation ("MedCap"), for approximately $10 million, using available unrestricted cash and borrowed funds (the "MedCap Acquisition" and, together with the Subro Audit Acquisition, the "A...
116
10K
INGGroepNV-AR_2016
5,345
Cover values including guarantees received - Business lending portfolio – 20151,2
11
annual_report
SwissReAG-AR_2020
3,531
Non-controlling interests Balance as of 1 January 797 1 786 Transactions with non-controlling interests1 606 4 Income/loss attributable to non-controlling interests 42 54 Other comprehensive income attributable to non-controlling interests: Change in net unrealised investment gains/losses 380 179 Change in foreign curr...
48
annual_report
4209
1,456
County of Alameda et al. v. Ambac Assurance Corporation et al. (Superior Court of the State of California, County of San Francisco, filed on or about October 13, 2010) (“Alameda Complaint”); Contra Costa County et al. v. Ambac Assurance Corporation et al. (Superior Court of the State of California, County of San Franci...
336
10K
105
267
Operating results for the three years ended December 31, 1994 are as follows:
13
10K
3224
1,639
The loss and loss expense ratio for the year ended December 31, 2006 was 55.5%, compared to 108.6% 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 3.1 percentage points. Thus, the loss and loss expense ratio relate...
221
10K
LloydsBankingGroupPLC-AR_2002
43
Dividend The Group continues to generate strong cashflows from its banking businesses and, excluding investment variance, the profit attributable to shareholders in 2002 was £2,496 million. The Board has decided to maintain the final dividend at 23.5p, to make a total for the year of 34.2p, an increase of 1.5 per cent....
86
annual_report
StorebrandASA-AR_2001
126
Norwegian municipalities are expected to make a particularly important contribution to growth in the Norwegian pensions market now that the management of municipality pension schemes is fully open to competition. In addition there are still some 900,000 private sector employees with no occupational pension. The municip...
56
annual_report
2387
1,146
Paid Loss Development - historical payment patterns for prior claims are used to estimate future payment patterns for current claims. These patterns are applied to current payments by accident year to yield expected ultimate losses.
35
10K
3387
2,151
We also have other commitments, some of which are contingent upon events or circumstances not under our control, including those at the discretion of our counterparties. These other commitments amounted to $10.782 billion as of December 31, 2007. Reflected in these other commitments are $10.638 billion of commitments t...
69
10K
fr_axa-AR_2009
11,171
After issue of 181,391,390 new shares pursuant to the Rights Issue (2) N/A 0.90%
14
annual_report
RaiffeisenBankInternationalAG-AR_2009
332
Because of their close economic and financial ties to Western Europe, the countries of Central and Eastern Europe (CEE) were also affected by the global economic crisis in 2009. Besides being heavily oriented to exporting to the European market, the CEE economies are especially dependent on capital flows from Western E...
87
annual_report
fr_axa-AR_2019
4,156
As a global company operating in numerous jurisdictions, we are subject to various tax regimes and regulations. Changes in tax laws could result in higher tax expenses, payments and compliance costs. In particular, while we continue to expect the Tax Cuts and
42
annual_report
nl_ing_grp-AR_2016
7,646
Number of cases 2016 2015 Breach of Orange code or unethical behaviour 37 14 Fraud / Theft 3 13 Privacy or (client) confidentiality 3 2 Bribery / Corruption 5 2 Other breach of any external law / regulation 42 39 Retaliation 1 Total 90 71
45
annual_report
HelvetiaHoldingAG-AR_2019
2,543
–10 % change to fair value of equities – 2.5 % – 3.4 %
14
annual_report
5743
1,365
Adjusted historical paid and incurred loss development methods - these methods take traditional historical paid and incurred loss development methods and adjust them for the estimated impact of changes from the past in factors such as inflation, the speed of claim payments or the adequacy of case reserves. Adjusted his...
98
10K
5790
1,316
In 2019, net favorable loss and LAE development was $28.4 million, primarily as a result of net favorable Commercial Lines development of $53.3 million, partially offset by unfavorable Personal Lines development of $23.7 million. Commercial Lines favorable development was primarily due to lower than expected losses of ...
245
10K
PhoenixGroupHoldingsPLC-AR_2015
3,659
Loans from the life companies to holding companies have been consolidated out such that they do not appear as an asset in the life company or as a liability in the holding company. This presentation has no impact on the overall MCEV but does affect the allocation of net assets between covered and non‑covered business.
55
annual_report
5667
1,869
The increase in operating expenses during 2019 as compared to 2018 was primarily driven by an increase in employee benefits, primarily medical costs associated with employee health plans, and other one-time compensation related expenses as well as professional fees, largely offset by a decrease in share-based compensat...
128
10K
NatixisSA-AR_2008
8,591
The following rules, in conformity with the provisions of the amended Bank Regulation Committee Standard No. 90-01 on recognizing securities transactions, amended by Accounting
24
annual_report
1670
370
Intangible Assets Impairment. For the year ended December 31, 2001, the Company recorded an impairment charge of $31.5 million for contract acquisition costs in excess of net assets acquired and capitalized contract implementation costs related to the Arrowhead and Millers Phoenix Indemnity contracts. The Company re-ev...
109
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_1999
661
These internationally accepted, high-quality accounting standards benefit shareholders, analysts, investors and the public alike.
14
annual_report
5151
601
Total revenue increased from $233.8 million for the year ended December 31, 2014 to $394.8 million for the year ended December 31, 2015. The increase in total revenue was due primarily to the growth in net premiums earned resulting from the significant increase in the number of policies in force throughout the year end...
63
10K
HiscoxLtd-AR_2017
632
The Chairman, Robert Childs, did not meet the independence criteria set in the Code on appointment. However, the Code does not require the independence or otherwise of a Non Executive Chairman to be considered subsequent to their appointment. Caroline Foulger is a former
43
annual_report
ScorSE-AR_2012
6,355
(*) The summer camps are managed by the Works Council (social activities) but their related expenses are deducted from a supplementary dedicated budget defined by the company. The amount of expenses for summer camps was EURO 106,162 in 2012.
39
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2011
1,233
under the amendment to IAS 1 (rev. 06/2011), Presentation of Financial Statements, Presentation of Items of Other Comprehensive Income “other comprehensive income” must now be divided into items that will be reclassified to profit or loss at a later date and items that will not. the purpose of this amendment is to impr...
90
annual_report
StorebrandASA-AR_2020
4,001
A long position in an equity derivative produces a gain in value if the share price increases. For interest rate derivatives, a long position produces a gain if interest rates fall, as is the case for bonds. For currency derivatives, a long position results in a positive change in value if the relevant exchange rate st...
72
annual_report
GjensidigeForsikringASA-AR_2013
399
Changes in framework conditions Solvency II Work on preparing for the Solvency II regulations has been prioritised in 2013 as well. The regulations set new requirements for European insurance companies in relation to the calculation of capital requirements, requirements for risk management and reporting on the risk and...
50
annual_report
AegonNV-AR_2016
5,997
Report on the financial statements 2016 Our opinion In our opinion: �� the consolidated financial statements give a true and fair view of the financial position of Aegon N.V. and its subsidiaries as at December 31, 2016, and of its results and its cash flows for the year then ended in accordance with International Fina...
55
annual_report
5654
426
retrospectively; an increase in amortization percentage will result in a decrease in the DAC balance and an increase in DAC amortization expense, while a decrease in amortization percentage will result in an increase in the DAC balance and a decrease in DAC amortization expense. The impact on results of operations of c...
109
10K
PhoenixGroupHoldingsPLC-AR_2009
179
Key 2009 achievements Overall service level maintained at above – 90 percent and improved transaction times on high volume processes Complaint volumes reduced from – 2008 and speed of complaint-handling response improved
32
annual_report
3827
1,536
During the years ended December 31, 2008 and 2007, we identified 483 and 419 fixed maturity securities, respectively, which were considered to be other-than-temporarily impaired. Consequently, the cost of these securities was written down to fair value and we recognized a realized loss of $212.9 million and $44.6 milli...
59
10K
5155
17,350
We recognize compensation expense for SARs based on the fair value method using the Black-Scholes option-pricing model. Compensation expense and the related liability are recognized on a straight-line basis over the vesting period of the SARs. The SARs liability is marked-to-market through net income, which causes vola...
105
10K
5037
879
Source data for calculations of per-share amounts and ratios in thousands.
11
10K
SwissReAG-AR_2009
1,428
Expenses Claims and claim adjustment expenses 8, 16 –10 007 –9 083 Life and health benefits 8, 16 –9 065 –9 348 Return credited to policyholders 16 2 822 –4 823
31
annual_report
1699
550
•Medical Cost Increases. Our medical reinsurance premiums reflect certain assumptions regarding increases in the cost of medical care. Medical costs (particularly prescription costs) are difficult to gauge, especially in the United States. Changes or advances in medical technology could increase our costs. Legislative ...
74
10K