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PhoenixGroupHoldingsPLC-AR_2013
969
− take into account Group-wide pay and employment conditions. The Remuneration Committee reviews the average Group-wide base salary increase and annual incentive costs and is responsible for all-employee share arrangements.
30
annual_report
NatwestGroupPLC-AR_2016
581
� Impairment losses of £213 million increased £131 million compared with 2015 largely reflecting a single name charge taken in respect of the oil and gas portfolio.
27
annual_report
2570
368
The insurance industry is highly regulated and very competitive, and its operations are impacted by many economic and social factors. In order to be a viable source of insurance protection in today's marketplace, an insurance company must be strongly capitalized, carry a secure rating from A.M. Best Company (which is c...
98
10K
5168
1,025
2015 and 2014, we were not aware of any industry loss events occurring that would have triggered a payment obligation, or receipt, under any of these derivative instruments.
28
10K
PosteItalianeSpA-AR_2020
3,550
Poste Italiane pays attention to its supply chain in all the sectors in which it operates. With reference to real estate purchases, the cleaning and environmental hygiene contracts are carried out in compliance with the Green Public Procurement with the adoption of the “Minimum Environmental Criteria” (MEC) contained i...
121
annual_report
1238
456
Amounts due from clinics and providers are stated at net realizable value, net of an allowance for uncollectible amount of $7,015,000 at December 31, 1999 based upon management's judgment of the ultimate collectibility. In late December 1998, Compcare Health Services Insurance Corporation ("Compcare") issued interest-b...
82
10K
5362
1,991
The following table provides a summary of changes in fair value associated with our Agency MBS portfolio:
17
10K
4558
882
Residential mortgage-backed securities - As of December 31, 2012, our RMBS portfolio was approximately $2.2 billion. Sequential securities receive payments in order until each class is paid off. Planned amortization class securities (“PACs”) pay down according to a schedule. Pass through securities receive principal as...
52
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2010
1,903
Reconciliation to effective tax expenses €m 2010 Prev. year Result before taxes on income (after “other tax”) 3,122 3,828 group tax rate in % 33,0 33,0 derived taxes on income 1,030 1,263 tax effect of: tax rate differences –155 –106 tax-free income –84 –326 non-deductible expenses 205 251 Valuation allowances for defe...
76
annual_report
AvivaPLC-AR_2016
5,090
Claims payments made in the period, net of recoveries (6,164) (5,522) Unwind of discounting 11 10
16
annual_report
1401
504
o the availability of bank financing and reinsurance; o the mutual holding company structure; and o uncertainties associated with NCRIC Group's acquisition strategy.
23
10K
NatixisSA-AR_2009
3,623
a Liquidation of a special purpose entity, within the Natixis Capital Markets sub-consolidation level, “Ixis Municipal Products Inc. Saratoga Series 2004-4 Trust”.
22
annual_report
GjensidigeForsikringASA-AR_2020
709
All procurements shall be as environmentally effective as possible, meaning that endeavours shall be made to achieve maximum value creation and minimum environmental harm. Suppliers are, to the extent possible, encouraged to make environmentally friendly choices. This applies to all the countries we operate in.
45
annual_report
HiscoxLtd-AR_2005
1,433
(5) To appoint AR Auer who has been appointed as a Director since the previous Annual General Meeting, in accordance with the Articles of Association and the Combined Code.
29
annual_report
3759
1,388
interest and pay a variable rate of interest fixed in the various currencies related to the short-term investments. The use of interest rate contracts essentially converts groups of short-term variable rate investments to fixed rates.
35
10K
5737
4,610
Net Investment Income. Net investment income increased 12.0% in 2019 compared to 2018 due to continued growth in average invested assets, improvements in cash management, and a strategic focus on increasing portfolio yields in a prudent manner. Despite facing a difficult investment environment in 2019, our strong focus...
114
10K
5472
843
Loss and LAE reported in non-GAAP operating income (i.e. operating loss and LAE) includes losses on financial guaranty insurance contracts (other than those eliminated due to consolidation of FG VIEs) and credit derivatives.
33
10K
5913
1,518
The Company is thoroughly evaluating the impact of adoption and expects that the adoption will have a significant impact on the Company’s financial position, results of operations, and disclosures. The Company anticipates that the requirement to update assumptions for liability for future policy benefits will have a si...
102
10K
fr_axa-AR_2016
4,186
Given the principles presented above and following an analysis of practices observed on the market for similar functions in CAC 40 fi nancial companies of similar size and scope, the Board of Directors, on the proposal from its Compensation & Governance Committee, has decided that the total value of the LTIs to be gran...
75
annual_report
Sampoplc-AR_2019
2,458
39 Events after the balance sheet date In the meeting of 6 Feb 2020, the Board of Directors decided to propose at the Annual General Meeting on 23 April 2020 a dividend distribution of EUR 2.20 per share, or total EUR 1,221,774,070.00, for 2019. The dividends to be paid will be accounted for in the equity in 2020 as a ...
64
annual_report
gb_lloyds_banking_grp-AR_2015
560
Example: – Lack of colleague capacity and capability could impact the achievement of business objectives. Additional colleague stretch (including increased dependency on key staff) could result in a loss of expertise.
31
annual_report
5377
958
The liquidity requirements of the holding company Unum Group include common stock dividends, interest and debt service, acquisitions, and ongoing investments in our businesses. Unum Group's liquidity requirements are met by assets held by Unum Group and our intermediate holding companies, dividends from primarily our i...
201
10K
NatwestGroupPLC-AR_2009
3,260
Property, plant and equipment 18 19,397 18,949 18,745 — — —
11
annual_report
1698
478
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Security National Financial Corporation and subsidiaries at December 31, 2001 and 2000, and the consolidated results of their operations and their cash flows for the t...
103
10K
SwissReAG-AR_2004
1,421
Accident business continued to perform well, with an overall combined ratio of 80.2%. This improvement can be directly attributed to the continued switch away from long-tail traditional workers’ compensation covers to short-tail business that covers claims only in the event of a catastrophe.
43
annual_report
5405
1,616
Throughout 2017, 2016 and 2015, we had no preferred shares outstanding.
11
10K
5563
805
Total stock-based compensation, net of forfeitures, was a benefit of $1.7 million and an expense of $1.2 million for the years ended December 31, 2018 and December 31, 2017, respectively. During the third quarter of 2018, the Company modified the terms of grants of restricted common stock awards to certain former offic...
100
10K
de_allianz-AR_2008
1,481
On a periodic basis, Group Audit independently reviews the risk governance implementation, performs quality reviews of risk processes and tests adherence to business standards.
24
annual_report
Sampoplc-AR_2019
3,288
Nordic companies. However, these Nordic companies are mainly competing in global markets, only a few are operationally purely domestic companies. Hence, the ultimate risk is not highly dependent on the Nordic economies. A breakdown of the listed equity exposures of
40
annual_report
LloydsBankingGroupPLC-AR_2016
4,779
Exercised/lapsed (includes entitlements of former key management personnel) (9) (7) (1)
11
annual_report
5518
2,028
The estimated fair values of guarantees accounted for as embedded derivatives are determined based on the present value of projected future benefits minus the present value of projected future fees. At policy inception, we attribute to the embedded derivative a portion of the projected future guarantee fees to be colle...
99
10K
ASRNederlandNV-AR_2019
4,361
Return on equity A measure of financial performance calculated by dividing the net result attributable to holders of equity instruments by the average equity attributable to shareholders for the reporting period.
31
annual_report
BaloiseHoldingLtd-AR_2013
2,483
Financial Report Notes to the consolidated annual financial statements available and decides how many are to be awarded to each member of the Corporate Executive Committee. PSUs are granted to the other programme participants on the basis of the relevant line manager’s proposal, which must be approved by the line manag...
52
annual_report
4044
992
The change in the Insurance business segment net premiums written in 2009 compared to 2007 was driven by the full year impact of the Company’s acquisition of ARMtech, which was acquired in the fourth quarter of 2007. Partially offsetting this growth in 2009 compared to 2007, was the Company’s exit from the California w...
76
10K
ScorSE-AR_2010
1,311
Also refer to Sections 14.1.5 - Negative disclosures about members of the Board of Directors and senior management, 16.4 – Corporate governance regime and 19 – Related party transactions.
29
annual_report
4539
1,508
In addition to CMBS bonds and CRE CDOs, the Company has exposure to commercial mortgage loans as presented in the following table. These loans are collateralized by a variety of commercial properties and are diversified both geographically throughout the United States and by property type. These loans may be either in ...
157
10K
4779
3,312
Non-investment portfolio gains (losses) for the years ended December 31, 2013 and 2012 includes a gain of $30 million and $33 million, respectively, related to certain dispositions as more fully described in Note 3. Non-investment portfolio gains (losses) for the year ended December 31, 2011 includes a loss of $106 mil...
68
10K
PosteItalianeSpA-AR_2017
2,417
Due from the purchasers of service accommodation 5 2 7 7 - 7
13
annual_report
fr_axa-AR_2013
8,974
Turnover rate of salaried sales force 30.9 % +1.1pts 29.8 %
11
annual_report
5048
3,025
In the event customers elect to surrender separate account assets, Life Operations will use the proceeds from the sale of the assets to fund the surrender, and Life Operations’ liquidity position will not be impacted. In many instances Life Operations will receive a percentage of the surrender amount as compensation fo...
89
10K
5611
738
In 2017, the size of the life-licensed sales force increased to 126,121 from 116,827 at December 31, 2016 primarily due to the benefit of robust recruiting activity in prior periods. The number of life-licensed sales representatives as of December 31, 2017 was not significantly affected by the additional recruits from ...
59
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2010
1,052
Corporate responsibility munich re’s business environment is constantly in flux, presenting ever new opportunities and risks. Defining factors, such as climate change, technological progress, the globalised financial markets and demographic trends, constitute major challenges. a forward-looking and responsible approach...
76
annual_report
5322
1,040
The following table shows pension benefit payments, expected to be paid (in thousands). The amount for 2017 includes an estimate for possible lump sum payments associated with the aforementioned one time window offering.
33
10K
470
490
Net unrealized capital gains (losses) $ 60.5 $132.5 $(189.0) ====== ====== ========
12
10K
1206
447
- the start-up of an excess and surplus lines insurance company;
11
10K
SwissReAG-AR_2015
2,067
other payments severance payments1 1 0 1 0 1 severance payments in the table above include (i) payments under standard severance packages, (ii) other payments that are over and above what is contractually or legally required, and (iii) voluntary supplementary departure payments, but exclude similar legally permitted pa...
79
annual_report
1989
1,089
Debt securities....................................................... $ (122.9) $ (72.6) $ (7.5) Equity securities..................................................... (9.8) -- -- Mortgage loans........................................................ (0.6) (6.1) (1.8) Real estate..........................................
98
10K
StandardLifeAberdeenPLC-AR_2008
201
EEV operating profit before tax – by segment Against volatile market conditions, EEV operating profit before tax increased by 6% to £933m (2007: £881m).
24
annual_report
1885
450
Net investment income increased by $810,000, from $12,136,000 in 2000 to $12,946,000 in 2001. This increase was primarily attributable to additional interest earned as a result of a greater number of loan originations during 2001.
35
10K
2884
1,153
In our discussion of operating results, we sometimes refer to supplemental information derived from consolidated financial information, which U.S. GAAP does not require in the financial statements.
27
10K
AegonNV-AR_2000
306
While adding well-targeted new products, we have continued to refine our traditional offerings: we have found that a mix of new and traditional products allows us to satisfy and meet the individual requirements of our customers and distribution partners and build volumes whatever the fashions of the day. And, a broadly...
66
annual_report
2429
731
The net change in the valuation allowance for the years ended June 30, 2004, 2003 and 2002 was a (decrease) increase of ($39,171), $632 and ($168), respectively. Prior to the acquisition of USAuto, a full valuation allowance had been established, as management believed that it was more likely than not that the Company ...
80
10K
5266
796
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Employers Holdings, Inc. and Subsidiaries' internal control over financial reporting as of December 31, 2016, based on criteria established in Internal Control-Integrated Framework issued by the Comm...
66
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2002
1,406
The liquidity risks of companies in the Munich Re Group are managed by the individual insurers and reinsurers themselves. Detailed liquidity planning ensures that Munich Re and its Group companies are able to make the necessary payments at all times. This planning concept, which has been in place for many years, has pr...
69
annual_report
1659
488
The increase in premiums in the Americas division is comprised of the inclusion of $13.9 million Canadian branch business in 2000, an increase in the Latin American unit business of $24.2 million, which commenced full-time operations upon completing the start-up of its business in 1999, and an increase in primary insur...
90
10K
AvivaPLC-AR_2005
1,534
United Kingdom France Netherlands Other Europe International Total Year ended 31 December 2004 £m £m £m £m £m £m
19
annual_report
3904
480
We performed a sensitivity analysis on OTC derivative collateral requirements by assuming a hypothetical reduction in our S&P's insurance financial strength ratings from AA- to A and a 100 basis point decline in interest rates. The analysis indicated that we would have to post an estimated $449 million in additional co...
105
10K
de_allianz-AR_2013
611
The French property-casualty market has seen limited growth in recent years and remains highly competitive. Competition is likely to remain tough, with expected higher customer churn due to local 1 Based on the first nine months of 2013.
38
annual_report
4289
1,553
The Company’s primary insurance business experienced unfavorable development in California accident years 2007 and 2008 where incurred and paid losses developed above actuarial projections. The Company’s excess insurance business had favorable development on policies underwritten in California, where losses have not em...
58
10K
NatwestGroupPLC-AR_2017
1,466
Notes: (1) The benefits column for Howard Davies includes private medical cover. (2) In line with market practice, non-executive directors are reimbursed expenses incurred in connection with travel and attendance at Board meetings. HMRC has confirmed that it deems these expenses as taxable where the Board meetings take...
92
annual_report
3407
955
and is recognized when the transaction affects income; however, prospective hedge accounting for the transaction is terminated. In all other situations in which hedge accounting is discontinued on a cash flow hedge, amounts previously deferred in other comprehensive income are reclassified into income when income is im...
58
10K
1715
527
NET REALIZED INVESTMENT LOSSES totaled $19.3 million in 2001, compared with $20.8 million in 2000 and $11.2 million in 1999 and include impairment writedowns of $17.3 million in 2001, $20.8 million in 2000 and $7.7 million in 1999, respectively. Thus, net realized losses from sales and redemptions of investments totale...
69
10K
2616
652
commissions and other underwriting expenses, which consist of commissions we pay to agents and brokers, premium taxes and company expenses related to the production and underwriting of insurance policies, less ceding commissions that we receive under our reinsurance contracts;
39
10K
4881
909
The amortized cost and fair value of available-for-sale fixed maturity securities at December 31, 2014, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations.
41
10K
PosteItalianeSpA-AR_2015
238
In addition, the Legal and Corporate Affairs function was established in January 2016, aimed at bring together the management of legal and corporate governance matters, and thereby obtaining operating synergies in business support activities.
34
annual_report
StorebrandASA-AR_2019
3,143
Energy use: Temperature corrected energy consumption per square meter heated area in head offices in Norway and Sweden. Consumption measured by the energy suppliers, electricity and district heating/cooling and registered in the environmental monitoring system.
35
annual_report
ScorSE-AR_2011
2,110
Requirement of presence at the company as of 1 September 2017
11
annual_report
5537
669
Contractual Obligations - The following table shows certain information relating to the required reporting of contractual obligations as of December 31, 2018:
22
10K
BaloiseHoldingLtd-AR_2010
536
Members of the Board of Directors receive the minutes of Corporate Executive Committee meetings for their perusal. The Chairman of the Board of Directors may attend meetings of the Corporate Executive Committee at any time.
35
annual_report
AegonNV-AR_2008
3,790
Net fair value change on investments in real estate for account of policyholders (557) (402) 187
16
annual_report
2987
8,385
The Company paid income taxes of $1.64 billion, $1.06 billion and $1.21 billion in 2006, 2005 and 2004, respectively. The Company had a current income tax receivable of $20 million and $483 million at December 31, 2006 and 2005, respectively.
40
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2015
1,509
Munich Reinsurance Company (Information reported on the basis of German accountancy rules)
12
annual_report
5878
1,215
The underwriters in connection with SCH’s initial public offering were entitled to a deferred fee of $0.35 per unit, or $28,980,000 in the aggregate. The deferred fee was paid upon the closing of the Mergers from the amounts held in the Trust Account.
43
10K
BaloiseHoldingLtd-AR_2004
1,203
Elimination –269.2 0.0 –15.5 –284.7 in CHF m 6.4 Change in gross premiums by geographical and business segments
18
annual_report
2138
1,898
Income taxes increased by $9 million, or 41%, from $22 million in 2001 to $31 million in 2002. The increase was consistent with the 40% increase in segment income before income tax.
32
10K
NatwestGroupPLC-AR_2007
4,383
Pre-acquisition Provisional Recognised carrying Disposal fair value acquisition amounts groups (1) adjustments (2) values (2)
15
annual_report
AvivaPLC-AR_2010
2,030
Regulatory changes or errors may affect the calculation of unit prices or deduction of charges for our unit-linked products which may require Aviva to compensate customers retrospectively. A significant proportion of our product sales are unit-linked contracts, where product benefits are linked to the prices of underly...
152
annual_report
HelvetiaHoldingAG-AR_2013
2,754
Group profit for the period per share in CHF 37.5 39.3 32.7 37.1 40.9
14
annual_report
AvivaPLC-AR_2006
223
Delivering annualised savings of £250 million from the UK cost and efficiency programme by the end of 2007
18
annual_report
gb_prudential-AR_2009
1,035
Board and committee meetings and attendance During 2009, the Board met nine times and held one separate strategy event. A detailed forward agenda has been in operation for a number of years, which is kept updated to reflect not only scheduled regular items of business but also any topical matters arising during the yea...
141
annual_report
HannoverRueckSE-AR_2012
1,799
Life and health reinsurance assumed Some transactions in the life and health reinsurance segment necessitate the involvement of ceding special purpose entities as contracting parties that are established by parties outside the Group and from which member companies of the Hannover Re Group assume certain underwriting an...
100
annual_report
1314
219
Net premiums earned for the year ended September 30, 1999 were $126.6 million compared to $154.6 million for the same period in 1998. The decline in premiums earned of $28.0 million was due to two factors: an increase in ceded premiums amortized from $6.1 million for the year ended September 30, 1998 to $18.5 million f...
171
10K
LloydsBankingGroupPLC-AR_2012
3,498
Monitoring Financial reporting risk is actively monitored at business unit and Group levels. There are specific programmes of work undertaken across the Group to support: – annual assessments of (1) the effectiveness of internal controls over financial reporting; and (2) the effectiveness of the Group’s disclosure cont...
89
annual_report
2391
1,523
Policy fees and other income. Policy fees and other income increased $10 million, or 26%, to $48 million for the year ended December 31, 2003 from $38 million for the year ended December 31, 2002. This increase was the result of a $5 million increase in fees for contract underwriting services attributable to higher ref...
75
10K
4440
1,557
On March 26, 2009, the Company completed a cash tender offer for a portion of its outstanding Redeemable Series C preference ordinary shares that resulted in approximately 12.7 million Redeemable Series C preference ordinary shares with a liquidation value of $317.3
41
10K
5296
865
The loss and loss adjustment expense payments due by period in the table above are based upon the loss and loss adjustment expense estimates as of December 31, 2016 and actuarial estimates of expected payout patterns and are not contractual liabilities as to a time certain. Our contractual liability is to provide benef...
230
10K
4190
783
In March 2010, the FASB issued ASU 2010-11, “Derivatives and Hedging (ASC Topic 815): Scope Exception Related to Embedded Credit Derivatives” (“ASU 2010-11”), which clarifies that the only type of embedded credit derivatives that are exempt from bifurcation requirements are those that relate to the subordination of one...
52
10K
4220
980
The contractual maturities of short-term and long-term investments and restricted deposits as of December 31, 2010, are as follows:
19
10K
SwissReAG-AR_1966
31
The General Third Party Liability and Motor Third Party Liability branches also showed a considerable loss in the year under report, despite our careful and selective under­ writing policy. The promotion by legislation and court practice of an ever wider concept of liability, the ever larger claims of injured parties, ...
140
annual_report
de_allianz-AR_2014
1,732
allianz gRoup: inteRnal Risk pRofile – allocated undeRwRiting Risk By Business segment and souRce of Risk (total poRtfolio BefoRe non-contRolling inteRests)1 pre-diversified, € mn Premium natural catastrophe Premium terror Premium non-catastrophe Reserve Biometric Total
34
annual_report
3306
848
The Securities and Exchange Commission, the Financial Industry Regulatory Authority, commonly referred to as FINRA, and several state authorities have brought proceedings challenging several mutual fund and variable product financial practices, generally including suitability, late trading, market timing, compensation ...
69
10K
4211
1,011
Other Underwriting Expenses. Other underwriting expenses, which have remained stable in relation to premium volume, were $166.3 million, $167.2 million and $148.5 million in 2010, 2009 and 2008, respectively.
29
10K
5611
1,146
Derivatives. Embedded conversion options associated with fixed-maturity securities are bifurcated from the fixed-maturity security host contracts and separately recognized as equity securities. The change in fair value of these bifurcated conversion options is reflected in realized investment gains (losses), including ...
76
10K
DirectLineInsuranceGroupPLC-AR_2012
1,713
2. These are subject to performance conditions to be assessed by the RBS Group Remuneration Committee, as described above.
19
annual_report
5196
16,360
Glover v. Connecticut General Life Insurance Company and The Lincoln National Life Insurance Company, filed in the U.S. District Court for the District of Connecticut, No. 3:16cv00827, is a putative class action that was served on LNL on June 8, 2016. Plaintiff is the owner of a universal life insurance policy who alle...
109
10K
5268
2,113
Certain of our insurance subsidiaries have securities on deposit with various state or foreign government insurance departments in order to comply with relevant insurance regulations. See note 4(d) for additional information related to these deposits. Additionally, under the terms of certain reinsurance agreements that...
64
10K
654
466
The Company reports assets and liabilities related to reinsured contracts on a gross basis.
14
10K
4175
2,041
During 2010, we recorded $0.8 million (2009 - $22.5 million, 2008 - $214.9 million) in net other-than-temporary impairment charges. Net other-than-temporary impairments decreased in 2010, compared to 2009 due to the designation, upon acquisition of our fixed maturity investments as trading, rather than as available for...
304
10K
1331
1,226
shows the accident years to which the re-estimates are applicable. The amounts in the total accident year column represent the cumulative reserve re-estimates for the indicated accident year (000’s):
29
10K
fr_axa-AR_2000
470
These provisions of the deposit agreement will limit the ability of holders of AXA ADSs to obtain recourse if AXA
20
annual_report