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NatwestGroupPLC-AR_2007
3,427
The above information is provided in relation to the principal related undertakings as permitted by Section 231(5) of the Companies
20
annual_report
3023
2,723
Net favorable prior years reserve adjustments for the year ended December 31, 2005 were $67.3 million compared to net unfavorable prior years reserve adjustments of $174.2 million in 2004. For the year ended December 31, 2005, the favorable reserve adjustments included net favorable attritional reserve adjustments of $...
77
10K
AdmiralGroupPLC-AR_2018
749
A large flood or windstorm causes extensive property damage (both motor and household) to a significant proportion of the portfolio, leading to a large total claims cost in relation to the event.
32
annual_report
AegonNV-AR_2007
2,242
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 2 (4,718) 6,781 (1,444)
11
annual_report
HiscoxLtd-AR_2005
558
(iv) a grant will vest on a straight-line basis if the Group’s ROE average is between the minimum target and the maximum target.
23
annual_report
3553
1,141
As at December 31, 2006, and for the year ended December 31, 2006, in accordance with FIN 46(R) the Company had determined that Mont Fort was a VIE. The Company was not considered to be the primary beneficiary and, therefore, was not required to consolidate Mont Fort into its financial statements. The Company was deeme...
124
10K
NatixisSA-AR_2003
3,757
Ensuring three levels of control are applied within CDC IXIS Capital Markets: I Permanent first-level controls are undertaken by hierarchical managers and complemented by monitoring and control functions that are independent of these hierarchies but integrated within operational activities, the aim being to monitor per...
95
annual_report
AvivaPLC-AR_2015
5,607
Net cash from investing activities Net cash from investing activities (continuing operations) was £7,641 million inflow (2014: £228 million outflow). The increase of £7,869 million is mainly due to cash balances brought into the Group following the acquisition of Friends Life.
41
annual_report
RSAInsuranceGroupPLC-AR_2020
146
Despite the impacts of Covid-19, we were able to continue our extensive investor engagement programme. This included our bi-annual London roadshow, held virtually, in March and September. These were positively received by investors and included meetings with some of our largest shareholders including Cevian, Columbia T...
48
annual_report
4534
1,091
Includes $2.9 billion and $3.2 billion at December 31, 2012 and 2011, respectively, of international public finance insured obligations (which includes sovereign debt), of which $105.2 million and $143.8 million at December 31, 2012 and 2011, respectively, which is related to Spain, Italy, Hungary, Portugal, Greece and...
53
10K
3162
246
Premiums assumed from other insurers and reinsurers totaled $11.5 million during 2005, an increase of $2.8 million (32%) from 2004, including $2.0 million of reinstatement premiums related to the 2005 hurricanes. Premium volume from reinsurance assumed will fluctuate depending on the favorability of pricing for the cov...
68
10K
5504
1,424
On December 14, 2017, our Board of Directors authorized the repurchase of up to $3.0 billion of our common shares expiring on December 31, 2020, exclusive of shares repurchased in connection with employee stock plans. Under the share repurchase authorization, shares may be purchased from time to time at prevailing pric...
99
10K
2196
884
The combined balance of our DAC and PVFP was $182.9 million. The recovery of these costs is dependent on the future profitability of the related business at December 31, 2003.
30
10K
3674
2,089
The net investment income yield on our general account investments after investment expenses, excluding realized investment gains (losses), was 5.05% and 5.43% for the years ended December 31, 2008 and 2007, respectively. The net investment income yield attributable to the Financial Services Businesses was 4.78% for th...
76
10K
gb_prudential-AR_2007
2,700
Notes on the Group financial statements E: Asset management (including US broker dealer) and other operations continued
17
annual_report
5462
1,179
Interest expense increased $3.1 million in 2017 from 2016 and $2.4 million in 2016 from 2015. The increase in 2017 was due to the Company borrowing $160.0 million under its credit facility during September 2016. Interest expense increased in 2016 primarily due to a change in how the Company reports amortization of defe...
131
10K
GjensidigeForsikringASA-AR_2010
2,129
• Real estate funds. The real estate funds are valued based on reported nAV values as reported by the fund administrators. Because of late reporting from the funds, the nAV values from the previous quarterly reporting are used in estimating fair value.
42
annual_report
ScorSE-AR_2010
1,783
The first demand guarantee was signed on 30 November 2010. It gave rise to no payment during the 2010 financial year.
21
annual_report
3575
2,288
The gross unrealized losses on equity securities were $12 million, including 245 securities which were, in aggregate, approximately 11.0% below cost.
21
10K
4348
1,389
Operating income is a non-GAAP financial measure that is widely used to evaluate the performance of insurance entities. Operating income excludes the after-tax effects of realized investment gains or losses, guaranty fund assessments and, in 2011, the effects of certain confidential settlements that do not reflect norm...
78
10K
BaloiseHoldingLtd-AR_2015
523
Risk management at Baloise will continue to evolve over the coming years, reaffirming its standing as a company with an outstanding risk strategy and risk positioning� Further information on risk management can be found in the 2015 Financial Report (section 5� ‘Management of insurance risk and financial risk’ pages 132...
52
annual_report
fr_axa-AR_2018
410
With a view to optimize their return in a low margin environment, asset managers are diversifying their portfolios and tailoring their investment solutions. From traditional products to alternative credit and specialties, active to passive investing, assets managers are moving towards absolute return and cash flow driv...
51
annual_report
PosteItalianeSpA-AR_2020
8,483
Beneficiaries The Beneficiaries are: Poste Italiane’s Chief Executive Officer, in his role as General Manager, certain managers within the Poste Italiane Group, including key management personnel, Risk Takers who work for BancoPosta RFC and personnel belonging to the Poste Vita insurance group.
42
annual_report
gb_prudential-AR_2004
171
Prudential UK has also made a significant investment in its unitlinked offering and this is reflected in the increase in year-on-year sales and market share. The Flexible Investment Bond, launched late in 2003, and the recently-launched range of protected bonds continue to build share in the growing IFA unit-linked bon...
51
annual_report
2677
516
INCOME TAXES: MMC's tax rate reflects its income, statutory tax rates and tax planning in the various jurisdictions in which it operates. Significant judgement is required in determining the annual tax rate and in evaluating tax positions. Tax allowances are established when, despite the belief that the tax return posi...
79
10K
PowszechnyZakladUbezpieczenSA-AR_2010
392
Moreover, the following initiatives have been carried out in PZU Group in 2010 with respect to process and cost optimization:  employment restructuring resulting in FTE reduction by 2,062;
29
annual_report
de_allianz-AR_2019
2,369
Assets and liabilities measured or disclosed at fair value in the consolidated financial statements are measured and classified in accordance with the fair value hierarchy in IFRS 13, which categorizes
30
annual_report
5404
1,780
Of the unrealized capital losses aged more than twelve months, the average market value of the related fixed maturities was 97.3% and 96.9% of the average book value as of December 31, 2017 and 2016, respectively.
36
10K
5412
887
While the sources of variability discussed above are generated by different internal and external trends and operational changes, they ultimately manifest themselves as changes in the expected loss and loss expense development patterns. These patterns are a key assumption in the reserving process. In addition to the ex...
139
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2012
2,320
Provision for future policy benefits 287 –751 1,074 1,068 16 2
11
annual_report
nl_ing_grp-AR_2012
1,509
– deferred acquisition costs and value of business acquired –484 277 1,159 – increase in provisions for insurance and investment contracts –3,174 4,239 4,278 – addition to loan loss provisions 2,125 1,670 1,751
33
annual_report
ASRNederlandNV-AR_2015
483
Maintain market leadership with focus on the combined ratio Through its disability product line a.s.r. aims to achieve the targeted combined ratio. In respect of disability insurance, a.s.r. plans to capitalise on its unique integrated approach of utilising a dedicated multi-disciplinary team of professionals and by ma...
168
annual_report
NatwestGroupPLC-AR_2020
1,502
 Impairment losses of £792 million largely reflect significant Stage two ECL uplifts taken in H1 2020 for expected future economic deterioration.
22
annual_report
5710
1,450
Accounting guidance requires a premium deficiency analysis to be performed at the level an entity acquires, services, and measures the profitability of its insurance contracts. Currently, the Company determines the sufficiency of unearned premium net of deferred policy acquisition costs against expected levels of losse...
92
10K
StorebrandASA-AR_2005
1,113
published a report dated 9 December 2005 on transitional capital adequacy requirements for Norwegian insurance companies in the period 2007-2009. The report considers alternatives to the capital adequacy regime known as Basle I currently in force (due to be replaced by Basle II for banks from 1 January 2007) for the pe...
60
annual_report
NatixisSA-AR_2020
3,989
(in millions of euros) On-balance sheet exposure Off-balance sheet exposure Total risk weight EAD RWA
15
annual_report
3576
867
We generally receive premiums on a monthly basis in advance of providing services. Premiums collected in advance are deferred and reported as deferred revenue. We recognize premium revenue during the period in which we are obligated to provide services to our members. Any amounts that have not been received are recorde...
58
10K
5181
1,212
and Asset-backed Securities Not Due at a Single Maturity Date at December 31, 2015 consisted of securities issued by the Government National Mortgage Association with a fair value of $107.0 million, securities issued by the Federal National Mortgage Association with a fair value of $17.1 million, securities issued by t...
75
10K
5553
816
The dollar amount of these expenses decreased from $244.8 million in 2017 to $240.2 million in 2018. There was an average of 3,014 FTEs in 2018 compared with an average of 3,040 FTEs in 2017. The decrease in expenses and FTEs in 2018 was primarily due to the reduction in employees related to the lower revenues in the c...
60
10K
5906
1,317
The impact of Regulation Best Interest or other regulations adopted by the Securities and Exchange Commission (“SEC”), the Department of Labor or other federal or state regulators or self-regulatory organizations relating to the standard of care owed by investment advisers and/or broker-dealers that could affect our d...
48
10K
StorebrandASA-AR_2018
1,225
Share of profit for the period - hybrid capital investors 9 11
12
annual_report
3211
1,084
Due to the financial restatements previously discussed, the Company has determined that certain options exercised by nonexecutive officer employees in 2006 were discount options subject to Section 409A of the Internal Revenue Code. The Company notified the Internal Revenue Service (IRS) on February 28, 2007 that it wou...
90
10K
4609
1,167
Income taxes paid were $52.2 million in 2012. Income taxes refunded, net of income tax paid of $57.1 million, were $4.1 million in 2011, and income taxes paid were $65.1 million in 2010, respectively.
34
10K
5739
7,547
In 2019, White Mountains recognized a total of $182 of realized and unrealized gains from the MediaAlpha Transaction. MediaAlpha recognized revenues of $49 in 2019, prior to the date of the MediaAlpha Transaction, compared to $297 and $163 in 2018 and 2017, and NSM, which was acquired during 2018, recognized revenues o...
132
10K
ScorSE-AR_2009
2,596
Payments from Helix to SHS were based on modelled reinsurance losses on a notional portfolio. The Helix 04 contract could first be triggered when modelled losses to the notional portfolios reach USD 154.8 million. The second trigger hit when modelled losses reach USD 176.2 million. It would then pay out according to a ...
63
annual_report
PowszechnyZakladUbezpieczenSA-AR_2020
593
PZU Group’s activity laid down in the CRR Regulation1, was PLN 227.5 billion, up 8.1% from the end of September 2019.
21
annual_report
gb_lloyds_banking_grp-AR_2012
2,696
Commercial The commercial portfolio credit quality remains stable and impairment charges have fallen over the last 12 months to £252 million in 2012 from £296 million in 2011. The decrease reflects the continued benefits of the low interest rate environment, which has helped to maintain defaults at a lower level, and t...
77
annual_report
1590
527
LAPSATION AND PERSISTENCY. Factors that affect our results of operations are lapsation and persistency, both of which relate to the renewal of insurance policies. Lapsation is the termination of a policy by non-renewal. Lapsation is automatic if and when premiums become more than 31 days overdue although, in some cases...
170
10K
4834
806
OTHER NET REALIZED GAINS (LOSSES) Other net realized gains and losses for the years ended December 31, 2012 and 2011, consisted of insurance recoveries received from our directors’ and officers’ insurance policy. These insurance recoveries reimbursed the Company for a portion of the expenses incurred by the Company rel...
53
10K
3448
1,444
During 2005, the Company issued a total of 7,750 common shares to its employees through the exercise of Options during the period and received cash proceeds of $1 million in connection with these Option exercises.
35
10K
3359
1,810
The actuarial provisional estimate is then developed into management’s best estimate with collaboration with underwriting, claims, legal, and finance departments and culminates with the input of reserve committees. Each business unit reserve committee includes the participation of the relevant parties from actuarial, f...
126
10K
INGGroepNV-AR_2018
2,925
Loans to, or guaranteed by, public authorities 24,547 26,975 17,257 19,397 41,803 46,372
13
annual_report
3704
2,943
A significant portion of the business at our discontinued operations is “long-tailed” in nature and is dependent on its ceding companies for reporting information regarding incurred losses, most of which it no longer has ongoing relationships with due to its businesses being in run-off. The loss reserves recorded repre...
128
10K
5248
1,404
The Company also enters into credit default swaps that assume credit risk as part of replication transactions. Replication transactions are used as an economical means to synthetically replicate the characteristics and performance of assets that are permissible investments under the Company’s investment policies. These...
123
10K
2570
355
As a result of the planned change in aggregate pool participation, the reinsurance segment will have slightly less impact on the Company's financial results in 2005 and beyond. For example, the reinsurance segment represented approximately 28 percent of total premiums earned in 2004. Had the new 30 percent aggregate po...
69
10K
AvivaPLC-AR_2019
1,384
The Committee also receives quarterly control reports from the Internal Audit function and reviews and challenges management on the actions being taken to improve the quality of the overall control environment and the risk control culture across the Group. The quarterly reports include an assessment of control environm...
101
annual_report
3552
1,819
The holders of the Series B Preferred Shares will not be entitled to any voting rights as shareholders of XLFA and their consent will not be required for taking any corporate action. Subject to certain requirements, the Series B Preferred Shares may be redeemed, in whole or in part, at the option of XLFA at any time or...
97
10K
4259
10,833
•a Kentucky agreement that provides coverage for Allstate Protection personal lines property excess catastrophe losses in the state for earthquakes and fires following earthquakes effective June 1, 2008 to May 31, 2011;
32
10K
2357
1,504
As of December 31, 2004, we had approximately $330 million (pre-tax) of deferred gains that had not yet been amortized. We expect to amortize deferred gains from dispositions through 2031. The deferred gains are being amortized in a pattern consistent with the expected future reduction of the in force blocks of busines...
85
10K
PosteItalianeSpA-AR_2020
4,145
Transactions of greater importance Details of the most significant transactions for the purposes of the Consob Regulation adopted with Resolution no. 17221/2010 are provided below.
25
annual_report
RaiffeisenBankInternationalAG-AR_2016
2,366
For internal management purposes, targets which take account of a management buffer in addition to the regulatory requirements are defined for the Group.
23
annual_report
ScorSE-AR_2014
52
(1) By Net Reinsurance premiums written, source: “S&P Global Reinsurance Highlights 2014” (excluding Lloyd’s of London) (2) Source: Fitch press release, 20 August 2014 (3) Source: S&P Insurance Markets, Research Update, 21 November 2013
34
annual_report
5273
1,049
We have no material off-balance sheet transactions with the exception of our letter of credit facilities.
16
10K
NatixisSA-AR_2014
1,522
These agreements are aimed at associating all employees with Natixis’ annual fi nancial results.
14
annual_report
NatwestGroupPLC-AR_2016
1,211
The GAC reviewed work undertaken on the bank’s integrated risk assessment approach which is designed to provide a single approach to the assessment of risk mind sets and behaviours and risk capabilities, leading to a more effective and simplified approach to the assessment of risk culture, the three lines of defence an...
54
annual_report
5387
2,778
On December 29, 2017, the term loan was repaid and the letter of credit and revolving credit facility was terminated. For the year ended December 31, 2017, the Company recognized $1 million of interest expense in relation to the syndicated bank financing facility.
43
10K
de_allianz-AR_2010
2,029
Financial assets designated at fair value through income 14,161 4,193 4,105 Available-for-sale investments 125,134 94,459 106,665 Held-to-maturity investments 242 419 319 Investments in associates and joint ventures 1,042 1,957 1,285 Non-current assets and assets of disposal groups classified as held for sale — — 2,199...
91
annual_report
PosteItalianeSpA-AR_2015
2,613
The carrying amount of the above items and other borrowings approximates to their fair value at 31
17
annual_report
NatixisSA-AR_2006
2,594
CACEIS, market leader in institutional custody services, achieved signifi cant growth in assets in custody, which totaled €1,787 billion at end-December 2006, an increase
24
annual_report
fr_axa-AR_2009
6,484
Kölnische Verwaltungs-AG für Versicherungswerte AG on July 20 and July 21, 2006, respectively. In parallel, AXA Konzern fi nalized in 2007 the squeeze-out of the non-controlling interests of its life insurance companies AXA Lebensversicherung AG (0.86% of the share capital) and Deutsche Ärzteversicherung AG (2.13% of t...
66
annual_report
2570
730
Property Year ended and casualty Parent December 31, 2004 insurance Reinsurance company Consolidated - ----------------- ------------ ------------ ------------ -------------- Premiums earned ....... $250,034,561 $ 95,443,900 $ - $ 345,478,461
29
10K
BaloiseHoldingLtd-AR_2006
3,742
In the past, no signifi cant connection between interest rate increases and a material rise in contract terminations has been observed.
21
annual_report
5432
845
Investment related gains were level in 2017 and decreased by $8.4 million, or 99.9%, in 2016. Revenue related to unit-linked products were included in investment related gains in 2015. Beginning in 2016, revenue related to unit-linked products is included in investment income within the Financial Solutions segment.
47
10K
4812
2,035
The decrease in assumed accident and health premiums and the percentage of assumed to total premiums and other amounts assessed to policyholders in 2012 and 2013 is related to the indemnity reinsurance agreement and acquired renewal rights for medical stop-loss insurance policies issued by American United Life Insuranc...
54
10K
4513
1,589
To determine the recovery value, credit loss for a corporate security, the Company performs an analysis related to the underlying issuer including, but not limited to, the following:
28
10K
5284
1,389
The Company's functional currencies are U.S. dollars for its U.S. and Bermuda operations and British Sterling for its U.K. operations. The reporting currency for all entities is U.S. dollars. The Company maintains a portion of its investments and liabilities in currencies other than the U.S. dollar. The Company has mad...
179
10K
5619
679
c) Overall revenue in the Taiwan segment increased in 2018 due to commissions from increased sales of insurance products that are soon to be discontinued due to Taiwan regulatory changes. Sales of these types of products increased as customers were looking to take advantage of their last opportunity to lock in these po...
60
10K
5557
1,494
In second lien transactions the projection of near-term defaults from currently delinquent loans is relatively straightforward because loans in second lien transactions are generally “charged off” (treated as defaulted) by the securitization’s servicer once the loan is 180 days past due. The Company estimates the amoun...
109
10K
3663
859
Segment Reporting • Our business is the design, sale, underwriting and servicing of non-standard personal automobile insurance policies. Our parent company is a holding company, with no revenues and only interest expense on corporate debt. Our subsidiaries consist of several types of legal entities: insurance companies...
166
10K
5354
815
As further explained in Note 14, during October 2017, the Holders completed a refinancing of the loans that had matured and were about to mature. The agreements are with a new senior lending facility who previously provided MRI for the underlying policies. During December 2017, these new loans were extended through Apr...
101
10K
SwissReAG-AR_1981
564
Profit commission: Contractually agreed commission paid by the -> insurer or ^ reinsurer in proportion to his profit on a particular piece of insurance or reinsurance business.
27
annual_report
5344
1,635
In January 2017, the FASB issued ASC Update No. 2017-01, (Topic 805) Business Combinations - Clarifying the Definition of a Business. The amendments in this update provide a more robust framework to use in determining when a set of assets and activities constitute a business. This guidance narrows the definition of a b...
211
10K
2689
227
C. On September 7, 2002, the Company changed its coverage forms to limit the "costs taxed against the insured" clause of the "Supplementary Provisions" coverage grant, from unlimited to $100,000.
30
10K
AegonNV-AR_2007
390
Prospects for strong, sustainable growth are not confined to AEGON’s established markets. In places such as China,
17
annual_report
2510
1,391
Additionally, income tax expense was higher for the current year due primarily to decreases in other expenses related to the PPLI business, as discussed above. This increase in income tax expense was partially offset by a higher DRD tax benefit of $11 related to the 2004 tax year, as compared to the DRD tax benefit of ...
69
10K
de_allianz-AR_2001
129
A new dimension in destructive terrorism not only took the lives of thousands of human beings and inflicted tremendous pain and suffering on colleagues, friends and relatives of the victims; the attack also resulted in insurance losses of unprecedented magnitude and dealt the world’s financial markets a severe blow. Ag...
69
annual_report
1092
586
On January 1, 1999, Great Northern Insured Annuity Corporation (previously a wholly owned subsidiary of General Electric Capital Assurance Company) merged into General Electric Capital Assurance Company and The Harvest Life Insurance Company (previously a subsidiary of Federal Home Life Insurance Company) merged into T...
100
10K
RaiffeisenBankInternationalAG-AR_2020
212
Despite an uncertain and challenging market environment due to the COVID-19 pandemic, the pursuit of sound and sustainable value creation in the interests of shareholders will again provide a clear roadmap for RBI’s business policy decisions in 2021.
38
annual_report
ASRNederlandNV-AR_2016
2,239
Equipment is depreciated over its useful life, which is determined individually (usually between three and five years). Repair and maintenance costs are charged to the income statement in the period in which they are incurred. Expenses incurred after the acquisition of an asset are capitalized if it is probable that th...
68
annual_report
3748
746
comparisons between companies that choose different measurement attributes for similar types of assets and liabilities. We were required to adopt the provisions of SFAS No. 159 for financial statements issued for fiscal years beginning after November 15, 2007. The adoption of SFAS No. 159 did not have a material impact...
55
10K
ScorSE-AR_2013
5,012
According to the decision of the Shareholders General Meeting of the Company dated 25 April 2013, the Board of Directors of the Company decided on 25 April 2013 the share capital reduction of EUR 6,935,437.80 by cancellation of 880,470 treasury shares to reduce the share capital from EUR 1,519,160,179.73 to EUR 1,512,2...
80
annual_report
4785
588
Commissions decreased during 2013 compared to 2012, and during 2012 compared to 2011, primarily due to a shift from Guaranteed Auto Protection (“GAP”) commissioned products to non-commission products, which also have lower premiums.
33
10K
4755
1,896
Within the Company’s North America sub-segment, the Company reported net favorable loss development for prior accident years in 2013, 2012 and 2011. The net favorable loss development for prior accident years in 2013, 2012 and 2011 was driven by most lines of business, with the casualty line being the most pronounced. ...
66
10K
HiscoxLtd-AR_2017
650
Prior to the Board and Committee meetings taking place, the Board and the Executive Committee together hold in-focus sessions exploring specific aspects of the Hiscox Group. The Board of Directors 2 Strategic report 37 Governance Corporate governance 63 Remuneration 89 Financial summary
42
annual_report
1969
1,240
On the date of demutualization, Metropolitan Life established a closed block for the benefit of holders of certain individual life insurance policies of Metropolitan Life. Assets have been allocated to the closed block in an amount that has been determined to produce cash flows which, together with anticipated revenues...
152
10K
AvivaPLC-AR_2014
1,057
Operational risk should generally be reduced to as low a level as is commercially sensible, on the basis that taking operational risk will rarely provide us with an upside, and operational failures may adversely impact our reputation, impairing our ability to attract new business, or lead to poor customer outcomes.
50
annual_report
LloydsBankingGroupPLC-AR_2020
89
We will support regional regeneration, including launching the 'Regional Housing Growth Initiative'
12
annual_report
3879
933
The adverse loss reserve development of $2.7 million in 2008 resulted primarily from the resolution of the dispute over reinsurance receivables with a reinsurer and the reevaluation of the reserve for doubtful reinsurance receivables that contributed $12.4 million of adverse development in 2008 for both the other liabi...
197
10K
NatixisSA-AR_2012
6,307
NOTE 37 OFF-BALANCE SHEET - FOREIGN CURRENCY COMMITMENTS AND TRANSACTIONS COMMITMENTS 389
12
annual_report
2208
646
In 2003, we recognized a gain on the retirement of trust instruments supported by funding obligations of $3.7 million, net of taxes, compared with a gain of $66.7 million in 2002. These gains resulted from the retirement of certain long-term funding obligations at discounts (see Significant Transactions - Gain on Retir...
54
10K