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gb_prudential-AR_2015
5,227
Note The negative 2015 effect in Malaysia, Indonesia and Singapore reflects the impact of valuing future health and protection profits at higher discount rates, driven by the increase in long-term interest rates in these countries (see note 14(i)). The negative effect in Taiwan is driven by a decrease in fund earned ra...
87
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2013
1,365
Munich Health’s consolidated result totalled €150m. Given the difficult situation at WHG, we had originally anticipated a lower result for 2013 and had not ruled out a loss for Munich Health. Following successful restructuring measures, WHG’s result improved and we were able to sell the group at terms and conditions th...
57
annual_report
AdmiralGroupPLC-AR_2005
849
The Directors consider, in certain circumstances, that it may be appropriate and in the best interest of shareholders generally for the Company to purchase its own shares. This resolution gives authority for the Company to purchase up to 13,000,000 Ordinary shares which is approximately equivalent to 5.00% of the issue...
110
annual_report
HiscoxLtd-AR_2017
112
Germany and Spain performed particularly well. In Germany, a focus on cyber and classic car continues to deliver and the business is achieving impressive 95% retention rates. We also extended our reach with a new sales branch in Frankfurt.
39
annual_report
ASRNederlandNV-AR_2009
1,950
ASR Nederland 2009 annual report 38 Remuneration of the ASR Executive Board and Supervisory Board
15
annual_report
gb_prudential-AR_2015
175
The disciplined execution of our strategy, underpinned by the recurring income and cash-generating nature of our business, positions us well to continue to deliver sustainable, long-term profitable value to both our customers and shareholders.
34
annual_report
NatixisSA-AR_2002
1,739
BANQUE POUR LES PAIEMENTS ONLINE Banking services 100 100 100 100 100 100
13
annual_report
4948
1,441
In addition, our ability to receive dividends from our downstream subsidiaries is subject to the ability of each parent corporation within the corporate ownership structure to receive dividends from its respective subsidiary(ies), based upon the subsidiary’s domiciliary regulations. Argo Re is the primary direct subsid...
109
10K
5113
2,088
The Company calculates the fair value for its S&P 500 Index options using the Black-Scholes option pricing model and parameters derived from market sources. The Company’s valuations maximize the use of observable inputs, which include direct price quotes from the Chicago Board Options Exchange (“CBOE”) and values for o...
189
10K
2122
346
Quota share reinsurance ceded: Insurance premiums $ 15,334 $ 18,975 $ 19,113 Medical and other benefits 12,375 15,001 12,251
19
10K
4230
2,608
Our insurance and various other companies are subject to regulatory limitations on the payment of dividends and other transfers of funds to affiliates. With respect to Prudential Insurance, New Jersey insurance law provides that, except in the case of extraordinary dividends (as described below), all dividends or other...
263
10K
fr_axa-AR_2004
161
(b) For the periods ended June 30, 2005 and June 30, 2004, the change in fair value of assets backing contracts with financial risk borne by policyholders had impacted the net investment result for respectively €+3,807 million and €+3,483 million and benefits and claims by the offsetting amounts respectively.
49
annual_report
SwissReAG-AR_2005
221
Property and casualty premium growth slowed further in 2005, for both insurers and reinsurers. Although the increase in general economic activity triggered a rise in insurance demand, there was no repeat of the substantial rate increases of 2002 and 2003.
40
annual_report
3922
956
Under reinsurance treaties, the Company cedes various amounts of risk to nonaffiliated insurance companies for the purpose of limiting the maximum potential loss arising from the underlying insurance risks. These reinsurance treaties do not relieve the Company from its obligations to policyholders.
42
10K
gb_lloyds_banking_grp-AR_2002
78
Peter Ellwood CBE Group Chief Executive mortgage balancesup 10% to £62.5 billion
12
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2009
1,471
the valuation reserves include post-tax adjustments to items that are not valued at fair value under ifRs, in particular to land and buildings and loans. We perform various valuation adjustments for property-casualty and life and health. in property-casualty, we discount the reserves that under ifRs are not discounted ...
173
annual_report
NatixisSA-AR_2017
7,568
We also provide the Audit Committee with the declaration provided for in Article 6 of Regulation (EU) No. 537/2014, confirming our independence within the meaning of the rules applicable in France as laid down in particular in Articles L. 822-10 to L. 822-14 of the French Commercial Code (code de commerce) and in the F...
78
annual_report
de_allianz-AR_2013
1,562
Risk goveRnance stRuctuRe As a key element of our risk management framework, Allianz’s approach to risk governance enables integrated management of our local and global risks and ensures that our risk profile remains consistent with our risk strategy and our capacity to bear risks.
44
annual_report
ScorSE-AR_2014
1,037
Professional Address: Groupe Malakoff Médéric 21 rue Laffitte 75317 Paris cedex 9 France
13
annual_report
4042
1,442
governing these computational questions. Any regulations that the IRS ultimately proposes for issuance in this area will be subject to public notice and comment, at which time insurance companies and other members of the public will have the opportunity to raise legal and practical questions about the content, scope an...
92
10K
699
333
1997 1996 1995 ----------- ----------- ---------- Federal statutory tax rate 34.0% (34.0)% (34.0)% State income taxes, net of federal income tax benefit . . . . . . . . 3.9 (3.7)% (4.4) Income exempt from taxation and dividend exclusions . . . . . . . (7.2) (10.1) (8.5) Differences between income statement and tax retu...
93
10K
1137
302
Generally, the Company has met its operating requirements by maintaining appropriate levels of liquidity in its investment portfolio and utilizing positive cash flows from operations. Liquidity for the Company has remained strong, as evidenced by significant amounts of short-term investments and cash, which totaled $49...
57
10K
SwissReAG-AR_2007
1,681
In this annual report, the fair value of the Value Alignment Incentive (VAI) is based on the nominal amount of the grant and the uplift of 25% on nominal value. The fair value of VAI granted in 2006 is updated based on actual results in 2007. The fair values will change based upon the actual results in 2008 and 2009. T...
105
annual_report
1563
380
In the third quarter of 2000, the Company sold remaining real estate properties identified for disposal in prior years at a net realized gain of $728,000. In the fourth quarter 2000, remaining real estate consisted of the North Plaza holdings and development real estate located in Springfield, IL. In December 2000, man...
148
10K
4014
1,693
The purchase price paid by the Company was $546.0 million in cash and 22.3 million common shares of AGL with an Acquisition Date fair value of $275.9 million, for a total purchase price of $821.9 million.
36
10K
5920
606
•Consolidated net earnings attributable to Enstar ordinary shareholders of $1.7 billion and basic and diluted earnings per share of $79.78 and $78.80, respectively, a year-over-year increase of $817.2 million or $37.37 per diluted share.
34
10K
5655
820
The investment return, or yield, on invested assets is an important element of the Company’s earnings since insurance products are priced with the assumption that premiums received can be invested for a period of time before benefits are paid. The majority of the Company’s invested assets have been held in fixed maturi...
91
10K
5617
1,301
The Company also has universal and variable life insurance contracts with secondary guarantees.
13
10K
5861
800
Our contract assets - commission receivable activities, net of credit loss allowances are summarized as follows (in thousands):
18
10K
5624
1,417
For additional information regarding our reserves, see Note 16 to the Consolidated Financial Statements included elsewhere in this Report.
19
10K
4196
1,010
Net realized gains (losses) and the change in unrealized gains (losses) on fixed maturity and equity securities are determined on a specific-identification basis and were as follows:
27
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2017
834
Reinsurance ERGO Diversification 31.12.2017 Prev. year 31.12.2017 Prev. year 31.12.2017 Prev. year €m €m €m €m €m €m Property-casualty 6,210 6,688 403 381 –321 –311 Life and health 4,331 4,389 808 1,284 –224 –474
34
annual_report
INGGroepNV-AR_2013
1,730
Segment reporting A segment is a distinguishable component of the Group, engaged in providing products or services, subject to risks and returns that are different from those of other segments. A geographical area is a distinguishable component of the Group engaged in providing products or services within a particular ...
87
annual_report
1262
294
Payment of cash dividends by the Company is at the discretion of its Board of Directors and is based on its earnings, financial condition, capital requirements, and other relevant factors. If the ability of SCIC and the Company's other insurance subsidiaries to pay dividends or make other payments to the Company is mat...
95
10K
4405
2,425
(1)Negative assumed premiums written were due to commutations and changes in expected debt service schedules.
15
10K
AegonNV-AR_2014
578
Aegon’s statement of financial position. Variable annuity contracts contain riders, such as guaranteed minimum death, maturity, withdrawal, accumulation or income benefits.
21
annual_report
438
100
During 1996, the Company's mortgage loan portfolio declined from $7 million to $2.3 million. The substantial reduction is the result of the early payoff of four mortgages with balances at the end of 1995 of $2.7 million and the sale to a local bank of seven loans with balances totaling $2 million. The proceeds from the...
62
10K
NatixisSA-AR_2010
1,629
Governments (including governments of countries where Natixis entities are established) have responded to the fi nancial crisis by adopting a certain number of precautionary measures. Others are still under consideration. The analysis and interpretation of these measures, which arise from diverse and sometimes contradi...
61
annual_report
4098
2,046
Net cash used in investing activities was $2.7 billion and $10.6 billion for the years ended December 31, 2008 and 2007, respectively. Accordingly, net cash used in investing activities decreased by $7.9 billion for the year ended December 31, 2008 as compared to the prior year. The Company reduced the level of cash av...
195
10K
679
326
In the fourth quarter of 1997, HSBIIC settled all of its outstanding contracts which required HSBIIC to pay its counterparty $30.7 million in foregone appreciation on its portfolio. The Company's U.S. common stock portfolio has experienced a total return of $57 million (which includes price appreciation of approximatel...
72
10K
4281
1,508
Under the terms of the Agreement, the Company acquired Massachusetts Homeland Insurance Company (“MHIC”), York Insurance Company of Maine (“York”) and two management companies (collectively the “Stock Companies”). The management companies are the attorneys-in-fact for Adirondack Insurance Exchange, a New York reciproca...
102
10K
479
498
As a result of the above factors, income before provision for income taxes increased from a loss of $7.4 million in 1995 to a profit of $1.6 million in 1996, an increase of $9.0 million.
35
10K
5958
4,221
Long-term debt includes senior notes, senior debentures, subordinated debentures and junior subordinated debentures issued by the Corporation. Unamortized debt issuance costs are reported in long-term debt and are amortized over the expected period the debt will remain outstanding.
38
10K
5301
1,137
The Company’s $2.7 million of gross unrealized losses within the industrial sector relates to securities with a fair value of $64.4 million. The industrial sector is further subdivided into various sub-sectors with a majority of its gross unrealized loss made up of issuers within the energy and consumer non-cyclical su...
106
10K
PhoenixGroupHoldingsPLC-AR_2020
352
• The Group continued to work closely with the PRA during 2020 on its internal model harmonisation application and expects to submit this in 2021.
25
annual_report
HiscoxLtd-AR_2012
738
Proceeds from the issue of ordinary shares 24 1,701 3,215 Dividends paid to owners of the Company 32 (62,507) (50,512) Net repayments of borrowings – (20,000)
26
annual_report
PosteItalianeSpA-AR_2020
2,766
In addition, with reference to the period of time between the end of the first phase of recourse to the Solidarity Fund benefits as per the Agreement of 30 April 2020 and the reference date provided for, in the context of access to the Fund, by the Minutes of 21 December 2020 the Company will pay for the periods of non...
159
annual_report
4599
2,984
The following table provides information about the pre-tax income (loss) effects of cash flow hedges for the year ended December 31, 2011:
22
10K
5901
1,230
At December 31, 2020, we had $400 million aggregate principal amount of senior secured notes outstanding. The Notes were issued pursuant to an indenture dated June 19, 2020 (the Indenture) and bear interest at a rate of 7.375%, payable semi-annually on June 1 and December 1. $244.4 million of proceeds from the Notes of...
93
10K
4437
1,123
The $154 million increase in restricted investments in 2011 was primarily due to an increase in the collateral required for securing insurance obligations established by certain U.S. subsidiaries that are recoverable under inter-company agreements.
34
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2019
1,968
Thereof: Interest and similar income 239 135 Write-ups of other operating assets 25 83
14
annual_report
1243
419
Depreciation and amortization expense for the year ended December 31, 1998 decreased $0.1 million, or 0.6%, to $15.8 million from $15.9 million in 1997. Some of our furniture and fixtures became fully amortized in 1997. Additionally, we wrote off internally developed software related to our exiting the Kentucky allianc...
66
10K
AvivaPLC-AR_2008
1,097
Despite this, the Asia Pacific region remains highly attractive with markets ranging from large and mature to emerging powerhouses. The low insurance penetration in most countries, ageing populations and high GDP growth indicate that prospects for continued growth in the life and pensions industry are very good. The la...
61
annual_report
5083
1,758
Prior to 2009, employee contributions to PLC’s 401(k) Plan were matched through use of an ESOP established by PLC. Beginning in 2009, PLC adopted a cash match for employee contributions to the 401(k) plan. For the period of February 1, 2015 to December 31, 2015 (Successor Company) and for the year ended December 31, 20...
68
10K
ch_zurich_insurance_group-AR_2009
1,122
A key task is keeping our business continuity plans up-to-date, with an emphasis on recovery from unexpected events such as natural catastrophes and the possibility of a pandemic. In 2009, the Group rolled out a new testing standard for business continuity management. The new standard reduces testing complexity and hel...
90
annual_report
4420
770
Net reduction in ultimate loss and loss adjustment expense liabilities of $295.4 million.
13
10K
LloydsBankingGroupPLC-AR_2013
5,017
Advertising and promotion 313 314 398 uK bank levy 238 179 189
12
annual_report
5644
1,919
Ceded written premiums. The following table analyzes the overall change in ceded written premiums for our two business segments in the twelve months ended December 31, 2018, 2017 and 2016:
30
10K
fr_axa-AR_2014
6,891
caption is the contra of assets recognized on the different lines of the consolidated balance sheet for the share not held by the Group in consolidated investment funds. Movements in this caption both depend on the changes in the Group’s ownership and the changes in fair values of these funds.
50
annual_report
5269
1,937
Net Written Premium. Net written premium increased $271.3 million, or 18.7%, to $1,722.1 million from $1,450.8 million for the years ended December 31, 2016 and 2015, respectively. The increase in net written premium resulted from an increase of gross written premium for the year ended December 31, 2016 compared to the...
155
10K
5250
937
During 2016, 2015 and 2014, we recognized $14.7 million, $11.2 million and $9.5 million, respectively, of compensation expense related to our stock option grants.
24
10K
3679
1,907
The increase in our international mortgage insurance business was principally driven by our continued investment in our existing international mortgage insurance platforms and business development activities for new international platforms and a reclassification of fees associated with the government-mandated reserve f...
46
10K
PosteItalianeSpA-AR_2018
448
�� Use of energy sources that do not use fossil fuels (e.g. solar energy from photovoltaic panels on buildings)
19
annual_report
5472
2,327
The Company maintains a savings incentive plan, which is qualified under Section 401(a) of the Internal Revenue Code for U.S. employees. The savings incentive plan is available to eligible full-time employees upon hire. Eligible participants could contribute a percentage of their salary subject to a maximum of $18,000 ...
174
10K
4534
1,128
We expect the negative trend in the public finance sector to continue through at least the end of 2013 and possibly into future years, due to the slow economic recovery, federal funding reductions, expected Medicare cuts and continued stress on tax-based revenue receipts (in particular where tax revenues are derived fr...
115
10K
TopdanmarkAS-AR_2016
1,320
There have been no events in the period from 31 December 2016 until the presentation of the financial statements which could change the assessment of the annual report.
28
annual_report
ASRNederlandNV-AR_2018
2,490
The goodwill recognised of € 45 million is not tax deductible and relates to the expected synergies by sharing office space, IT systems and know-how for the life and non-life business. The goodwill is allocated to the cash generating units Life (€ 32 million) and Non-Life (€ 13 million).
49
annual_report
fr_axa-AR_1999
4,257
The value of purchased business inforce for AXA’s life insurance companies and changes thereto are as follows: Item 17
19
annual_report
2469
3,189
EITF 03-1 consensus reached in November 2003 also requires certain quantitative and qualitative disclosures for debt and marketable equity securities classified as available-for-sale or held-to-maturity under SFAS No.115, Accounting for Certain Investments in Debt and Equity Securities, that are impaired at the balance...
142
10K
AegonNV-AR_2014
915
The contract period is typically five years and the tariffs, cost loadings and risk premiums are generally fixed over this period.
21
annual_report
2102
505
ACQUISITIONS On September 19, 2000, Holdings completed the acquisition of all of the issued and outstanding capital stock of Gibraltar Casualty Company ("Gibraltar") from The Prudential Insurance Company of America ("The Prudential") for $51.8 million, which approximated book value. As a result of the acquisition, Gibr...
158
10K
2115
557
At December 31, 2003, the aggregate fair value of the securities with unrealized losses was $81.0 million, or 98% of the aggregate carrying value of those securities of $82.6 million. The largest single security with an unrealized loss at December 31, 2003 relates to a FNMA pool which matures in 2033 and carries a coup...
108
10K
4567
1,307
The decrease in losses reflects lower paid losses at our subsidiaries other than PICA of approximately $69 million offset by an increase in PICA losses paid of $18 million. The PICA increase is principally due to an additional three months of PICA activity in 2010. The timing of our loss payments varies from period to ...
91
10K
5014
558
Our principal investments are in fixed maturity and equity securities. Fixed maturity and equity securities, which are classified as available for sale, are carried at their fair value in the consolidated balance sheets, with unrealized gains or losses recorded in comprehensive income (loss). We utilize external indepe...
130
10K
INGGroepNV-AR_2003
863
It offers its clients best value for money and excellent service via call centres, direct mail and the internet. This strategy has been successful to date and was acknowledged by the financial services research group Lafferty with the ‘World’s leading direct bank award’ in 2003.
45
annual_report
1889
556
Gross premiums earned increased 1.6% to $97.4 million in 2001 from $95.9 million in 2000. This increase resulted from: (i) the increase in average premiums in force, offset by (ii) a decrease in final audit premiums that increased gross premiums earned by $1.8 million in 2001 compared to $5.5 million in 2000.
52
10K
5825
2,588
We are required to disclose our maximum exposure to loss, which we consider to be an amount that we could be required to record in our statements of operations, as a result of our involvement with the VIEs under our Home Re Transactions. As of December 31, 2020, December 31, 2019 and December 31, 2018, we did not have ...
210
10K
3866
1,798
In accordance with SFAS No. 157, we categorized our financial instruments, based on the priority of the observable and market-based data for each valuation technique, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices with readily available independent data in ...
67
10K
NatixisSA-AR_2008
3,085
The impact on net banking income was compounded by a €1,536 million increase in the cost of risk attributable to the crisis (see below).
24
annual_report
2604
1,108
The internal review identified several isolated arrangements allowing third parties to engage in frequent trading of mutual funds within the variable insurance and mutual fund products of ING, and identified other circumstances where frequent trading occurred despite measures taken by ING intended to combat market timi...
84
10K
PowszechnyZakladUbezpieczenSA-AR_2013
1,216
 Income from investing activities – comprising income allocated according to transfer prices and income from investment-type products –
19
annual_report
5607
1,232
Depreciation expense was $444 million in 2018, $410 million in 2017, and $388 million in 2016, including amortization expense for capitalized internally developed and purchased software of $298 million in 2018, $287 million in 2017, and $255 million in 2016.
40
10K
SwissReAG-AR_2019
1,653
Consistent with last year and in line with our Articles of Association, shareholders will again be asked to approve the following amounts: • Maximum aggregate amount of
27
annual_report
5717
1,165
Effective for the quarter ended June 30, 2019, the Company adopted guidance to simplify the accounting for goodwill impairment. Adoption of this guidance removed Step 2 of the goodwill impairment test, which required a hypothetical purchase price allocation. Goodwill impairment is now the amount by which a reporting un...
63
10K
3823
331
Income tax expense was $2.1 million for the fiscal year ended June 30, 2008 compared to $0.1 million for the prior fiscal year. The Company's effective tax rate for the fiscal year ended June 30, 2008 differs from the statutory rate of 34%. This difference was primarily related to the change in the valuation allowance ...
95
10K
2551
798
The remaining change in future policy benefit reserves was primarily due to a decrease of $1.1 million in FAIC life reserves between 2003 and 2004 and a $1.1 million increase in MACLIC’s reserves in 2004. The MACLIC increase was primarily related to the sales production and persistency of its life insurance block. FAIC...
85
10K
4374
766
Reinsurance recoverables on paid and unpaid losses and loss expenses represent estimates of the portion of such liabilities that will be recovered from reinsurers. Each reinsurance contract is analyzed to ensure that the transfer of risk exists to properly record the transactions in the financial statements. Amounts re...
158
10K
fr_axa-AR_2009
1,176
AXA will have the option to buy out the remaining stake through calls exercisable in 2010 and 2011. This transaction closed in the fi rst half of 2008.
28
annual_report
AvivaPLC-AR_2017
2,949
An AFS debt security is impaired if there is objective evidence that a loss event has occurred which has impaired the expected cash flows, i.e. where all amounts due according to the contractual terms of the security are not considered collectible. An impairment charge, measured as the difference between the security’s...
139
annual_report
fr_axa-AR_2009
11,484
Shareholders’ Meeting; ■ A mend accordingly, as of this General Shareholders’ Meeting,
12
annual_report
4497
1,802
Favorable development for other professional liability was driven by better than expected loss emergence in the life agents, accountants, and architects & engineers business in accident years 2008 and prior. In addition, favorable development in CNA’s European book of business was primarily due to favorable outcomes on...
68
10K
5516
2,362
As a consequence of our separation from GE and our joint election with GE to treat that separation as an asset sale under Section 338 of the Internal Revenue Code, we became entitled to additional tax deductions in post IPO periods. We are obligated, pursuant to our Tax Matters Agreement with GE, to make fixed payments...
180
10K
AvivaPLC-AR_2004
1,471
At 1 January 2004 as previously reported 2,074 227 7,004 9,305 Prior year adjustments
14
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2014
1,299
In order to take account of country risks other than the credit risk on government bonds, our advisory unit for strategic and economic issues, Group Development, also produces specific country scores in addition to the pure default ratings. The scores cover the significant political and economic risks and those relatin...
77
annual_report
5690
1,777
expenses associated with our previously announced unit cost initiative of $284 million, net of income tax
16
10K
CNPAssurancesSA-AR_2005
1,706
At 31 December 2004, the Company held 222,467 of its own shares, compared with 488,222 shares at the previous year-end.
20
annual_report
ScorSE-AR_2009
1,442
The pension is equal to 1/60th of Final Pensionable Salary for each year of membership of the scheme up to Normal Retirement Date
23
annual_report
gb_lloyds_banking_grp-AR_2013
6,205
Participants are entitled to any dividends paid during the vesting period. This amount will be paid in cash unless the Remuneration Committee decides it will be paid in shares.
29
annual_report
LloydsBankingGroupPLC-AR_2011
2,090
new business and other factors 12 (304) (80) 43 22 (307)
11
annual_report
5519
448
For 2018, net investment income was comparable to 2017 as increased prepayment activity and returns on alternative investments offset the reduction in yields from a movement up in quality of the portfolio. Average invested assets increased 2.2% in 2018. For 2017, net investment income increased compared to 2016 reflect...
92
10K