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512
In October 2005, Marsh completed the sale of Crump Group, Inc., its U.S.-based wholesale insurance broker. The gain on the sale was recognized in the fourth quarter of 2005. In December 2005 MMC agreed to sell its majority interest in Sedgwick CMS Holdings (“SCMS”). The sale of SCMS was completed on January 31, 2006, a...
82
10K
2340
798
Under U.S. GAAP, Platinum US, Platinum UK and Platinum Bermuda are not permitted to establish liabilities until an event occurs which may give rise to a loss. Once such an event occurs, liabilities are established based upon estimates of the total losses incurred by the ceding companies and an estimate of the portion o...
116
10K
PhoenixGroupHoldingsPLC-AR_2011
2,032
43. Risk management (continued) 43.3 Financial risk analysis (continued) 43.3.2 Market risk (continued) The sensitivity analysis for equity and property price risk illustrates how a change in the fair value of equities and properties affects the Group result. It takes into account the effect of such changes in equity a...
80
annual_report
AssicurazioniGeneraliSpA-AR_2017
1,794
Distributable residual quota 11,546,854 1) Key: A = for capital increase, B = for hedging , C = for distribution to shareholders.
22
annual_report
3100
2,001
Total benefits and expenses increased by $26 million, or 1.8%, to $1,455 million during the year ended December 31, 2006 when compared to 2005. The increase is largely due to an increase of $31 million in 401(k) business operating expenses primarily related to the acquisition of the MetLife business in 2006.
51
10K
4386
263
The most significant component of the Company’s investments is its Available-for-Sale securities, which the Company carries at fair value within its Consolidated Balance Sheets. The fair value of the Company’s Available-for-Sale securities at December 31, 2011 was primarily obtained from third-party pricing sources. Th...
64
10K
5142
1,136
(c) During 2015 there was an increase in gross profits resulting in increased amortization compared with 2014 which saw a decrease in gross profits leading to accretion.
27
10K
PhoenixGroupHoldingsPLC-AR_2019
2,669
• any other items which, in the Directors’ view, should be disclosed separately by virtue of their nature or incidence to enable a full understanding of the Company’s financial performance. This is typically the case where the nature of the item is not reflective of the underlying performance of the operating companies...
52
annual_report
ch_zurich_insurance_group-AR_2009
2,425
Interest credited to policyholders and other interest 169 171 11 64 160 216 Restructuring provisions and other items not included in BOP 1 1 (56) 43 – 450 Total BOP benefi ts, losses and expenses 1,233 784 7,764 (9,998) 6,414 2,166 Business operating profi t (before
46
annual_report
4832
2,118
Investments in which the Company has significant influence over the operating and financial policies of the investee are classified as investments in affiliates on the Company’s balance sheet and are accounted for under the equity method of accounting. Under this method, the Company records its proportionate share of i...
160
10K
ASRNederlandNV-AR_2019
456
Employees were given guidance in the context of redundancy 157 154 182
12
annual_report
LloydsBankingGroupPLC-AR_2011
1,788
total wholesale funding reduced by £47 billion to £251 billion, with the volume with a residual maturity less than one year falling £36 billion to £113 billion.
27
annual_report
AvivaPLC-AR_2007
1,792
(H) Other investment contract fee revenue Investment contract policyholders are charged fees for policy administration, investment management, surrenders or other contract services. The fees may be for fixed amounts or vary with the amounts being managed, and will generally be charged as an adjustment to the policyhold...
86
annual_report
4521
932
(3) Combined ratio is equal to the sum of the loss ratio and the expense ratio.
16
10K
RSAInsuranceGroupPLC-AR_2020
1,609
7. Malus and clawback The Group operates malus and clawback provisions. In summary, the Committee has the ability to reduce or forfeit awards that have yet to be paid or vest in the case of shares, to delay the payment or vesting date or to amend another form of award or benefit which has yet to be received (malus adju...
105
annual_report
StorebrandASA-AR_2002
1,247
Interest and related expense on deposits from and liabilities to customers -427.8 -404.3 -307.8 -575.5 -527.9 -409.7 -1 003.3 -932.2 -717.5
21
annual_report
AvivaPLC-AR_2012
3,749
Later than 1 year and not later than 5 years 421 400 Later than 5 years 587 667
18
annual_report
2216
1,416
In the fourth quarter of 2002, we established specific tools and indicators to more explicitly monitor and validate our key assumptions supporting our Health Care reserve conclusions since our traditional statistics and reserving methods needed to be supplemented in order to provide a more meaningful analysis. The tool...
118
10K
PosteItalianeSpA-AR_2016
1,483
• BancoPosta Fondi SpA SGR: on 10 November 2016, Poste Italiane SpA, Cassa Depositi e Prestiti and Anima Holding SpA signed a Framework Agreement for a joint project involving the creation of a leading asset management company. Under the agreement, Poste Italiane and Anima Holding have committed, at the earliest opport...
188
annual_report
4549
1,196
The following tables summarize Montpelier Syndicate 5151’s loss and LAE reserve movements for the years ended December 31, 2012, 2011 and 2010, and the composition of its gross loss and LAE reserves at December 31, 2012 and 2011:
38
10K
gb_lloyds_banking_grp-AR_2009
2,093
Wealth and International’s gross loans and advances to customers increased by £1.9 billion to £69.4 billion following the transfer of a £7 billion European loan portfolio from Wholesale division offset by repayments in most portfolios.
35
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2010
1,009
overall in the year under review, cash – which encompasses cash with banks, cheques and cash in hand – decreased by €182m (including currency effects) to €2,900m.
27
annual_report
NatixisSA-AR_2012
487
More than 300,000 professional craftsmen, small retailers, self-employed professionals and small businesses are Caisse d’Epargne customers. In 2012, active customers increased by more than 7%. 80% are also private customers.
30
annual_report
nl_ing_grp-AR_2016
1,890
• Enhanced overall organisation of the Finance and Risk functions in part through progress on the target operating model projects for risk and finance and through leadership planning combined with management delayering.
32
annual_report
fr_axa-AR_2001
3,983
The net benefit cost for the years ended December 31, 2001, 2000 and 1999 included the following components: Item 1
20
annual_report
2435
339
Located at the Greater Peoria Regional Airport we share ownership with Maui Jim, Inc. of a 16,800 square foot airplane hangar.
21
10K
5209
589
Non-commercial domestic revenue includes revenues from purchase transactions and centralized title operations. Revenues from purchase transactions increased 6.9%, while centralized revenues declined 14.9% due primarily to decreased default-related title transactions, partially offset by higher refinancing transactions....
181
10K
1406
871
A summary of the status of the Company's stock option plan as of December 31, 2000, and changes during the year then ending, follows:
24
10K
1693
981
Self-Employed Agency Division. Operating income at UICI's Self Employed Agency ("SEA") Division increased by 6% to $74.8 million for the year ended December 31, 2001, from $70.9 million in 2000.
30
10K
4663
612
•That portion of the change in balance sheet components amortized over estimated gross profit that is attributed to the embedded GMWB derivative and related economic hedges (e.g. DAC amortization).
29
10K
NatixisSA-AR_2020
5,223
However, Natixis continues to exercise significant influence. Natixis’ remaining 12.7% stake in Coface consequently was consolidated using the equity method effective January 1, 2020, for simplicity’s sake and to better reflect the impacts of that transaction in its consolidated financial statements.
41
annual_report
4503
828
Persistency. We use historical experience to estimate pricing assumptions for persistency rates. Persistency is a measure of how long our insurance policies stay in force. As a general matter, persistency that is lower than our pricing assumptions adversely affects our results over the long term because we lose the rec...
226
10K
5736
2,174
The weighted-average assumptions used in determining net benefit cost of the Plans for the years ended December 31, 2019, 2018 and 2017 were as follows:
25
10K
AvivaPLC-AR_2020
1,312
Patrick Flynn was appointed as SID on 7 September 2020. Patrick has been a member of the Board and the Committee since July 2019 and brings significant experience of both retail financial and insurance services. I had previously served as SID from 1 January 2020 until my appointment as Chair.
50
annual_report
4652
1,187
Revenues exclude net investment gains and losses on trading account assets supporting insurance liabilities. See “-Experience-Rated Contractholder Liabilities, Trading Account Assets Supporting Insurance Liabilities and Other Related Investments.”
28
10K
de_allianz-AR_2012
606
Outstanding holdings are forfeited in accordance with the plan rules should executives leave at their own request or would be terminated for cause.
23
annual_report
NatixisSA-AR_2011
390
In residential loans, Banque Populaire was the fi rst to offer the PTZ+, an interest-free loan open to all fi rst-time homebuyers and adjusted to the energy effi ciency of the home.
32
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2006
185
ERGO expands its business in southern and eastern Europe by acquiring a 75% stake in the I
17
annual_report
2027
413
In April 2002, the Financial Accounting Standards Board issued Statement of Financial Accounting Standard No. 145, "Rescission of Financial Accounting Standards Board Statements No. 4, 44 and 64, Amendment of Financial Accounting Standards Board Statement No. 13, and Technical Corrections," which became effective for f...
181
10K
gb_prudential-AR_2007
2,329
Assets Intangible assets attributable to shareholders: Deferred acquisition costs and other intangible assets – 1,928 1,928 1,712
17
annual_report
Sampoplc-AR_2005
549
Cash flow hedges: - recognised in equity during the financial year 3 3 3 - recognised in p/l –10 –10 –10 Financial assets available-for-sale - change in fair value 209 209 209 - recognised in p/l –138 –138 –138 Exchange rate translation difference 16 16 16 Profit for the financial year 817 817 31 848 Total income and e...
94
annual_report
StorebrandASA-AR_2018
380
The relationship between employers and employees is an opportunity to reinforce the understanding of pension savings. We therefore actively collaborate with our corporate customers to share knowledge and advice that can help their employees make smarter choices.
37
annual_report
5218
1,287
The company established a reasonably likely range for net loss and loss expense reserves of $4.449 billion to $4.894 billion at year-end 2016, with the company carrying net reserves of $4.738 billion. The likely range was $4.125 billion to $4.507 billion at year-end 2015, with the company carrying net reserves of $4.37...
88
10K
4779
2,747
In July 2011, the FASB issued new guidance on other expenses (ASU 2011-06, Other Expenses (Topic 720): Fees Paid to the Federal Government by Health Insurers), effective for calendar years beginning after December 31, 2013. The objective of this standard is to address how health insurers should recognize and classify i...
172
10K
1202
352
Onshore Energy. In 1999, the Robertson Consortium also began writing onshore energy business which principally focuses on the oil and gas, chemical and petrochemical, and power generation industries with coverages primarily for property damage and machinery breakdown. The business was previously written by Navigators I...
45
10K
fr_axa-AR_2008
4,382
Total recognized income and expense for the period (SoRIE) – – – – – (5,199) 112 – – (1,234) 227 (6,094) 172
22
annual_report
3936
1,559
requires that the tax benefit related to dividend equivalents paid on restricted stock, which are expected to vest, be recorded as an increase to additional paid-in capital. The Company currently accounts for this tax benefit as a reduction to income tax expense. EITF Issue No. 06-11 is to be applied prospectively for ...
103
10K
4121
10,796
Allstate has profit sharing plans for eligible employees of its Canadian insurance subsidiaries and Sterling. Profit sharing expense for these plans was $6 million, $2 million and $8 million in 2009, 2008 and 2007, respectively.
35
10K
5505
781
The effects of our QSR Transactions described and presented above result in a net pre-tax cost of the reinsurance, with respect to a covered loan, of 6% (but can be lower if losses are materially higher than we expect). This cost is derived by dividing the reduction in our pre-tax net income from such loans with reinsu...
144
10K
2790
549
General and administrative expenses were 10.7%, 10.5% and 11.0% of gross premiums earned in 2003, 2004 and 2005, respectively. General and administrative expenses decreased $1.1 million in 2004 due primarily to a reduction in employee related expenses and to a recovery of certain litigation expenses of $359,000. Genera...
117
10K
NatwestGroupPLC-AR_2009
295
The risk of financial, customer or reputational loss resulting from: fraud; human error; ineffective, or inadequately designed, processes or systems; improper behaviour; or external events.
25
annual_report
3707
71
Benefits and Other Deductions. Total benefits and other deductions for the Insurance segment increased $4.99 billion to $10.63 billion in 2008 as compared to $5.64 billion in 2007. The increase was principally the result of a $2.70 billion increase in policyholders’ benefits, the $2.38 billion increase in DAC amortizat...
71
10K
2226
819
Mortgage loans on real estate and policy loans: Fair values are estimated by discounting expected cash flows using interest rates currently being offered for similar loans.
26
10K
RaiffeisenBankInternationalAG-AR_2008
673
Due to the worsened economic conditions, more provisions were made for loan defaults in 2008. Total provisioning for impairment losses therefore rose Group-wide by 49 per cent, or € 0.5 billion, to € 1.6 billion. In absolute terms, the increase of provisioning for impairment losses was the highest at € 220 million for
53
annual_report
StorebrandASA-AR_2009
1,920
Intangible assets Goodwill and intangible assets with undefined usable lifetimes are tested for impairment annually. Goodwill is allocated to the group’s cash flow generating units identified by the relevant country in which one is carrying out activities. The test’s valuation involves estimating the cash flows that ar...
81
annual_report
HannoverRueckSE-AR_2019
109
For our investors 14 Letter from the Chairman of the Executive Board 14
13
annual_report
995
523
The Company is assessed amounts by state guaranty funds to cover losses of policyholders of insolvent or rehabilitated insurance companies, by state insurance oversight agencies to cover the operating expenses of such agencies and by other similar legislative entities. These mandatory assessments may be partially recov...
138
10K
Sampoplc-AR_2010
1,022
The amount of adjusted solvency capital on the Group level increased during the year to EUR 8,521 million (EUR 7,076 million in 2009) due to a good investment return and insurance result, and to some extent due to an increase in the liability side adjustment. The increase in the liability side adjustment is mainly due ...
94
annual_report
SwissReAG-AR_1996
1,238
P rovis ions fo r fu tu re c la im s in life , health and d is a b ility re insurance.
24
annual_report
678
813
will be entitled to elect 49.0% of the members of the Board of SWF and, upon receipt of regulatory approval, a majority of the directors of SWF. The Series A preferred stock is senior preferred stock. The holders of the Series A preferred stock are entitled to class voting rights under certain circumstances, including ...
122
10K
3688
1,095
SFAS 157 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). For SFAS 157 disclosures, SFAS 157 establishes a fair value hierarchy that prioritizes the inputs to valuation t...
62
10K
gb_prudential-AR_2017
5,790
— Assessing the assumptions relating to policyholder behaviour by comparing to relevant company and industry historical experience data.
18
annual_report
NatixisSA-AR_2009
2,751
Small and medium-sized businesses recorded in the retail customers category 2
11
annual_report
5264
1,232
In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326). This update requires companies to measure all expected credit losses for financial assets held at the reporting date. The accounting for credit losses on available-for-sale debt securities and purchased financial assets with cre...
119
10K
3220
1,328
On July 14, 2005, Scottish Annuity & Life Insurance Company (Cayman) Ltd., Scottish Re (Dublin) Limited, Scottish Re (U.S.), Inc. and Scottish Re Limited entered into a $200.0 million, three-year revolving unsecured senior credit facility with a syndicate of banks to provide capacity for borrowing and extending letters...
69
10K
3860
1,701
All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financials statement preparation and presentation. Also, projections of any evaluation of effectiveness to future periods a...
71
10K
5626
703
The following is information about incurred and paid claims development as of December 31, 2018, net of reinsurance, as well as cumulative claim frequency and the total of incurred-but-not-reported liabilities plus expected development on reported claims included within the net incurred claims amounts.
43
10K
5872
686
The following provides non-GAAP information that management believes is helpful when comparing 2020 and 2019 EBITDAC and adjusted EBITDAC in millions):
21
10K
2886
791
The sale of the renewal rights, discussed previously under Significant Events, as well as heightened competition for loss sensitive business prior to the sale caused reduced gross written premium for the twelve months ended December 31, 2005. For the year ended 2005, renewal premiums accounted for $53.2 million of gros...
129
10K
HannoverRueckSE-AR_2017
2,864
The item includes EUR 0.2 million (EUR 0.8 million) for self-created software and EUR 33.7 million (EUR 37.3 million) for purchased software as at the balance sheet date. Scheduled depreciation is taken over useful lives of three to ten years. Of the additions, an amount of EUR 3.6 million (EUR 10.1 million) is attribu...
57
annual_report
4721
1,201
Premiums increased 28% compared to the same period in 2012, primarily reflecting the impact of both acquisitions and organic membership growth in our Medicaid and MA segments, as well as rate increases in certain of our Medicaid markets, mainly Kentucky, partially offset by the impact of lower PDP membership.
49
10K
nl_ing_grp-AR_2015
1,707
• Enhanced overall organisation of the Finance and Risk functions in part through targeted rotations and international assignments throughout the network.
21
annual_report
4013
891
Under an agreement effective from January 1, 2001 through December 31, 2007, FITS was provided certain management and general services by the Company, for which the Company recorded $0, $0 and $172 for the years ended December 31, 2009, 2008 and 2007, respectively.
43
10K
4867
2,518
“Trading account assets supporting insurance liabilities, at fair value” includes invested assets that support certain products included in the Retirement and International Insurance segments which are experience rated, meaning that the investment results associated with these products are expected to ultimately accrue...
71
10K
4149
14,974
· Fixed income securities: Comprise U.S. Treasuries. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access.
25
10K
StorebrandASA-AR_2005
423
Storebrand shall have a good balance between men and women at all levels of the organisation.
16
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2002
1,940
A total of €880m (980m) was credited directly to life insurance policyholders in the business year.
16
annual_report
2557
752
When MBIA becomes entitled to the underlying collateral of an insured credit under salvage and subrogation rights as a result of a claim payment, it records salvage and subrogation as an asset. Such amounts are included in the Company’s balance sheet within “Other assets.” As of December 31, 2004 and 2003, the Company ...
193
10K
4774
1,959
Underwriting expenses. Underwriting expenses, which include direct commissions and other underwriting expenses, increased by $9.8 million, or 4.5% for the year ended December 31, 2012 as compared to the prior year. The net underwriting expense ratio increased 1.3 percentage points from 2011 to 2012.
44
10K
SwissLifeHoldingAG-AR_2008
1,390
The insurance liabilities with minimum guaranteed interest rates between 0% and 4% are primarily denominated in Swiss francs and euros, and the insurance liabilities with minimum guaranteed interest rates between 4% and 8% are primarily denominated in euros.
38
annual_report
1903
930
Selected quarterly financial data in 2002 and 2001 are as follows:
11
10K
SwissLifeHoldingAG-AR_2009
210
Corporate Solutions specialises in global life and pensions solutions for multinationals. In 2009 it met its profitability and premium volume targets by strengthening its client relationships. With new premium growth of 30%, Corporate Solutions confirmed its position as the global leader in the market for comprehensive...
76
annual_report
2909
9,004
The tax benefit realized in 2005, 2004 and 2003 related to tax deductions from stock option exercises and included in shareholders' equity was $56 million, $40 million and $15 million, respectively. The tax benefit realized in 2005, 2004, and 2003 related to all stock-based compensation and credited directly to shareho...
60
10K
1686
339
During 2000 and 1999, the Company's $3.00 Cumulative Convertible Preferred Stock, consisting of 2,133 shares and 111 shares, respectively, were converted into 5,609 shares of Common Stock and during 2000, 1,027 shares were redeemed for a value of $26,000. Each share of $3.00 Cumulative Convertible Preferred Stock was p...
98
10K
fr_axa-AR_2015
6,848
The risk of GMDB and GMIB features to AXA are related to the unhedged portion of the benefi ts and to the policyholder behaviour becoming materially different from the expected behavior. Reserves are established for these features on the basis of actuarial assumptions related to projected benefi ts and related contract...
57
annual_report
3604
1,301
The following table summarizes the effects of reinsurance on premiums and losses for the years ended December 31, 2007, 2006 and 2005:
22
10K
4025
1,739
At the Company’s Compensation Committee meeting on November 13, 2008, the PSU Plan was amended. Considering the net loss incurred in the nine months ended September 30, 2008, and the subsequent impact on the value of the existing PSUs (2006-2008, 2007-2009 and 2008-2010 series) the Committee resolved to cancel all unve...
61
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2018
867
For the 2018 financial year, we had forecast an economic earnings target corridor of “just over €2.1–2.5bn”. With our economic earnings totalling €1.9bn, we did not meet this target. Although the result contribution from business operations met our expectations overall, negative capital market developments had an adver...
86
annual_report
5903
2,854
For the years ended December 31, 2020, 2019 and 2018, the Company recognized $30 million, $29 million and $32 million, respectively, of asset management fee income for services the Company provided to these operating joint ventures.
36
10K
5934
534
Reimbursements for out-of-pocket expenses incurred in our Crawford Specialty Solutions segment can vary materially from period to period depending on the amount and types of projects, primarily in our former subsidiary Garden City Group service line, and were $9.7 million in 2019, decreasing from $22.5 million in 2018....
77
10K
NatwestGroupPLC-AR_2013
1,818
RBS Capital Resolution ('RCR') was set up from 1 January 2014 and will manage a pool of £29 billion of assets with particularly high capital intensity or potentially volatile outcomes in stressed environments, aiming to accelerate the run-down of these exposures over a three year period to free up capital for the bank....
100
annual_report
RaiffeisenBankInternationalAG-AR_2011
245
■ The Supervisory Board member shall not be a member of the Management Board of another company in which a Management Board member of the company is a member of the Supervisory Board.
33
annual_report
1401
332
Reinsurance. NCRIC manages its exposure to individual claim losses, annual aggregate losses, and LAE through its reinsurance program. Reinsurance is a customary practice in the industry. It allows NCRIC to obtain indemnification against a specified portion of losses associated with insurance policies it has underwritte...
119
10K
5635
858
Our commercial mortgage loan portfolio consists of mortgage loans collateralized by the related properties and diversified as to property type, location and loan size. Our mortgage lending policies establish limits on the amount that can be loaned to one borrower and other criteria to attempt to reduce the risk of defa...
265
10K
AegonNV-AR_2005
400
The independent auditor may request the chairman of the Audit Committee to call a meeting of the Audit Committee. The independent auditor customarily attends the meetings of the Audit Committee. In accordance with applicable laws, the independent auditor reports on its activities to the Executive Board and the Supervis...
136
annual_report
gb_lloyds_banking_grp-AR_2011
5,134
In addition, a UK‑based shareholder action group has threatened multi‑claimant claims on a similar basis against the Group and two former directors in the UK. No claim has yet been issued.
31
annual_report
AegonNV-AR_2002
1,617
In 2002 major differences between amounts on Dutch accounting principles and those on US GAAP compared to the amounts of prior years are explained as follows: The goodwill amortization in 2002 primarily reflects impairments for Transamerica Finance Corporation (EUR 1,234 million) and AEGON USA insurance operations.
46
annual_report
4668
684
We believe the presentation of operating earnings, as we measure it for management purposes, enhances the understanding of our performance by highlighting the results of operations and the underlying profitability drivers of our business. Operating revenues, operating expenses and operating earnings should not be viewe...
91
10K
2675
3,054
At December 31, 2004, Aon had a $775 million unused U.S. committed bank credit facility to support commercial paper and other short-term borrowings. The three-year portion of the facility was for $437.5 million, while the 364-day portion of the facility was for $337.5 million. No amounts were outstanding under this fac...
160
10K
fr_axa-AR_2015
1,900
Profi t or loss on fi nancial assets (under FV option) & derivatives 7 24
15
annual_report