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ScorSE-AR_2013
979
Notes to the consolidated financial statements, Note 6 - Insurance Business Investments. For a table summarizing the investment income of SCOR for the years ended 31 December 2013, 2012 and 2011 see Section 20.1.6 - Notes to the consolidated financial statements, Note 20 – Investment income.
46
annual_report
3170
790
The Company’s internal actuaries review the experience of individual contracts as well as review actuarial information received from the ceding companies. Since the last premiums were written on this business several years ago, the reporting of new losses should be relatively infrequent. The late reporting experienced ...
87
10K
SwissLifeHoldingAG-AR_2007
2,775
Gottardo Inversiones Financieras, Madrid Bank. Dis. 100.0% 100.0% full EUR 1 969
12
annual_report
3387
2,217
Consolidated Statements of Financial Position as of December 31, 2007 and 2006
12
10K
2335
629
Consolidated expenses (excluding goodwill amortization, restructuring charges, reserve increases on business sold through reinsurance and federal income taxes) decreased largely due to the sale of LNC’s reinsurance business to Swiss Re in the fourth quarter of 2001. Expenses for the operations of the former Reinsurance...
96
10K
2013
1,282
On May 29, 2002, the Company sold its $100 million note from MFS, an affiliate, to Keyport, another affiliate, for approximately $108 million. The note was included in fixed maturities available-for-sale at December 31, 2001. A gain of $8 million was recognized on this transaction.
45
10K
315
292
Subject to these restrictions, dividends may be paid as determined by the Board of Directors.
15
10K
5689
801
Cash used in financing activities during 2019 was primarily a result of the deconsolidation of the ASI Pool Companies and the repayment during the fourth quarter of 2019 of principal on mortgage notes due to the deconsolidation entities (see Item 1, 2020 Developments). Cash used in financing activities during 2018 was ...
62
10K
gb_lloyds_banking_grp-AR_2012
610
These activities are showing positive outcomes, with higher engagement scores for female and ethnic minority colleagues, and some steady progress in closing the gap for lesbian, gay and bisexual colleagues. We will continue to build upon our progress during 2013 to ensure we reflect the diverse needs of our customers, ...
53
annual_report
4566
317
Interest expense for the year ended December 31, 2012 was up $127,000 from the prior year at $1,280,000 compared to $1,153,000 in 2011. Interest expense related to litigation settlement (discussed above) in the holding company was the primary reason for the increase in 2012 compared to 2011.
47
10K
nl_ing_grp-AR_2013
5,420
NN performs a due diligence process when developing products and invests considerably in the maintenance of risk management, legal and compliance procedures to monitor current sales practices. Customer protection regulations as well as changes in interpretation and perception by both the public at large and governmenta...
101
annual_report
1197
819
At December 31, 1998, LNC held a $38.2 million tax valuation allowance relating to the Lincoln UK segment. When LNC management announced its intention to explore exiting the UK insurance market, LNC was required to change its method of accounting for Lincoln UK's taxes. Previously, taxes were computed based upon LNC's ...
207
10K
BaloiseHoldingLtd-AR_2006
3,659
The majority of the reserves in the runoff segment are the result of liabilities incurred by the Baloise Group in the “London market.”
23
annual_report
BaloiseHoldingLtd-AR_2007
2,821
The guidelines, directives, and competency regulations defi ne the conditions according to which mortgages are to be granted. This includes the amount, the creditworthiness of the counterparty, the coverage and the term of the transaction as well as the professional qualifi cation of the mortgage specialist.
46
annual_report
PosteItalianeSpA-AR_2018
3,173
iii. Reclassification of Financial instruments recognised at fair value through profit or loss to the following IFRS 9 categories: a. FVTOCI, totalling €4,346 million, resulting in a decrease in retained earnings of approximately €3 million and a simultaneous increase in the fair value reserve and deferred liabilities ...
71
annual_report
3783
1,255
Renaissance Physician Organization (RPO) is a Texas non-profit corporation the members of which are GulfQuest L.P., one of the Company’s wholly owned HMO management subsidiaries, and 14 affiliated independent physician associations, comprised of over 1,000 physicians providing medical services primarily in and around c...
265
10K
INGGroepNV-AR_2018
3,028
Accumulated depreciation as at 31 December –1,055 –983 –1,716 –1,623 –2,771 –2,606
12
annual_report
2415
1,104
In 1999, we began selling RPE, a no-load variable annuity. RPE was designed to attract contributions into variable sub-accounts on which we earn mortality and expense fees. However, the bulk of the funds were allocated to GIAs, which offered a 3% guaranteed interest rate. We anticipated the liabilities would be of a sh...
108
10K
PosteItalianeSpA-AR_2019
633
� Focus on digitally evolved customer types and specific offer creation
11
annual_report
4751
1,374
The level of market activity used to determine the fair value hierarchy is based on the availability of observable inputs market participants would use to price an asset or a liability, including market value price observations.
36
10K
PowszechnyZakladUbezpieczenSA-AR_2018
2,160
The Shareholder Meeting is the body authorized to make decisions concerning issues related to the organization and operations of the Issuer. Resolutions of the Shareholder Meeting are adopted by an absolute majority of votes, except in cases provided for in the Commercial Company Code GLOSSARY or the Articles of Associ...
50
annual_report
5828
660
As described in Notes 2, 5, 7 and 8 to the consolidated financial statements, the Company issues certain life insurance products that include certain contract features, including no-lapse guarantees. The liability for no-lapse guarantee features is grouped with guaranteed minimum death benefit ("GMDB") features in Note...
178
10K
5594
1,608
2018 to 2017 Annual Comparison. Adjusted operating income decreased $24 million, including an unfavorable comparative net impact from our annual reviews and update of assumptions and other refinements. Results for 2018 included a $31 million net benefit from these updates while results for 2017 included a $55 million n...
131
10K
5353
1,306
Loan-to-value ("LTV") and debt service coverage ("DSC") ratios are measures commonly used to assess the risk and quality of mortgage loans. The LTV ratio, calculated at time of origination, is expressed as a percentage of the amount of the loan relative to the value of the underlying property. A LTV ratio in excess of ...
63
10K
NatixisSA-AR_2015
6,086
Actuarial liabilities at end of period 596 218 55 116 985 656 228 53 103 1,040
16
annual_report
4922
1,266
Dividends received from the subsidiary in 2014 were $50 million more than 2013, supported by strong property casualty insurance subsidiary net cash flow from operating activities. We expect 2015 parent company sources of cash flows to be similar to 2014. The majority of expenditures for the parent company have been con...
77
10K
BaloiseHoldingLtd-AR_2005
1,952
contracts without any significant insurance risk are financial contracts. Such financial contracts may contain a discretionary participation feature (DpF), which determines which recognition and valuation regulations are to be applied.
30
annual_report
HannoverRueckSE-AR_2010
1,229
(almost 91.3%) are rated “A” or better. Our investment portfolio under own management does not contain any directly written credit derivatives.
21
annual_report
1996
1,394
In February 2003, we announced an agreement with Wachovia Corporation (“Wachovia”) to combine each company’s respective retail securities brokerage and clearing operations to form a new firm, which will be headquartered in Richmond, VA. Under the agreement we will have a 38% ownership interest in the new firm, which we...
115
10K
3874
1,517
During the third quarter of 2007, the Company estimated gross profits using the mean of EGPs derived from a set of stochastic scenarios that have been calibrated to our estimated separate account return as compared to prior year where we used a single deterministic estimation. The impact of this change in estimation wa...
62
10K
fr_axa-AR_2019
1,528
Profit or loss on financial assets (under fair value option) and derivatives (7) (8)
14
annual_report
5008
1,501
December 31, 2014 based on its September 2016 maturity date. The interest rate on the Term Loan was 2.5% as of December 31, 2014.
24
10K
de_allianz-AR_2015
2,152
Available-for-sale investments 488,365 465,914 Held-to-maturity investments 2,745 3,969 Funds held by others under reinsurance contracts assumed 1,349 1,154 Investments in associates and joint ventures 5,056 4,059 Real estate held for investment 11,977 11,349
33
annual_report
StandardLifeAberdeenPLC-AR_2012
972
Share capital Details of changes in share capital are set out in note 21 of the financial statements. The authority for the Company to purchase, in the market, up to 114,464,627 of its ordinary shares, representing approximately 10% of its issued ordinary share capital, expires at the forthcoming Annual General Meeting...
78
annual_report
AvivaPLC-AR_2018
1,248
Details of the Company’s share capital and shares under option at 31 December 2018 and shares issued during the year are given in notes 32 to 35. The calculation of earnings per share and the impact of the share buy-back on the number of shares in issue is included in note 15.
52
annual_report
4471
1,422
We manage our investment portfolio using disciplined Asset/Liability Management (“ALM”) principles, focusing on cash flow and duration to support our current and future liabilities. Our intent is to match the timing and amount of liability cash outflows with invested assets that have cash inflows of comparable timing a...
292
10K
Sampoplc-AR_2003
336
A board composed of representatives of Sampo, the Trade Union of Education in Finland, and the Union of Finnish Upper Secondary School Students selected a total of 57 donation targets, and divided the donation of EUR 200,000 between them.
39
annual_report
4065
701
In our determination of other-than-temporary impairments, we consider several factors and circumstances including the issuer's overall financial condition, the issuer's credit and financial strength ratings, a weakening of the general market conditions in the industry or geographic region in which the issuer operates, ...
104
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2018
983
The projections by Munich Reinsurance Company about the future development of its business are essentially subject to the same influences as the reinsurance life and health and reinsurance property-casualty segments presented in the consolidated financial statements. You will find this information on page 79.
44
annual_report
5906
7,449
(7)The mortality rate input represents the estimated probability of when an individual belonging to a particular group, categorized according to age or some other factor such as gender, will die.
30
10K
gb_prudential-AR_2007
2,464
Assets Intangible assets attributable to shareholders: Deferred acquisition costs and other intangible assets – – 745 745 612
18
annual_report
5792
1,198
(1) Change in fair value of expected future cash flows relating to our investment in life insurance policies that are not specifically attributable to changes in life expectancy, discount rate changes or policy maturity events.
35
10K
TrygAS-AR_2016
699
Denmark, Sweden and Norway. See details about the independent board members in the section Supervisory Board on pages 33-34 and at tryg.com > Governance > Management > Supervisory Board.
29
annual_report
RaiffeisenBankInternationalAG-AR_2005
1,830
Raiffeisen stambena š tedionica d.d. Zagreb (HR) 70,000,000 HRK 26.0% BA
11
annual_report
fr_axa-AR_2015
149
Sale of (i) AXA’s Australian & New Zealand operations and acquisition of the AXA APH Asia Life operations; and (ii) AXA
21
annual_report
PowszechnyZakladUbezpieczenSA-AR_2016
2,162
In 2016, recommendations for PZU shares were issued by 16 domestic and foreign financial institutions. In total, the sellside analysts GLOSSARY issued 27 recommendations. Positive
25
annual_report
AvivaPLC-AR_2016
5,132
Present value recognised in the statement of financial position 798 117 184 203 272 418 646 886 1,282 1,812 3,206 9,824
21
annual_report
ch_zurich_insurance_group-AR_2016
812
Group Balance Sheet Committee (GBSC) Members: Group CFO (Chairperson), Group CEO, Group CRO, Group CIO. The Group General Counsel attends ex officio but is not a voting member.
28
annual_report
StandardLifeAberdeenPLC-AR_2019
325
Leading through change and developing our people In common with most companies, change is constant and leaders at all levels have a critical role in supporting their teams through this change.
31
annual_report
SwissReAG-AR_2000
319
The knowledge generated in applied research needs to be translated into viable business solutions which bring value to clients. The centre therefore provides a shared space for workshops with clients and specialists to develop tailor-made products and services in risk and capital management.
43
annual_report
418
252
Based on borrowing rates currently available to IRA, Inc. For loans with similar terms and maturities, the book value of notes payable as of September 30, 1996 are considered to approximate fair value.
33
10K
4782
1,552
Future policy benefits and other related assets and liabilities are not reduced for reinsurance in the Consolidated Balance Sheet. A reinsurance recoverable is established for these items. Reinsurance related to policy and claim reserves ceded of $178.7 million and $177.1 million were included in the reinsurance recove...
72
10K
AvivaPLC-AR_2009
1,426
The Group ensures that involvement of employees in its performance is encouraged by allowing eligible employees to participate in the Group’s all employee share ownership plans.
26
annual_report
5616
2,004
RMBS and CMBS had gross unrealized losses greater than twelve months of $13.4 million and $21.6 million, respectively, as of December 31, 2017. Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverabilit...
52
10K
5927
2,006
Each quarter, we evaluate current expected credit losses (CECL) for fixed maturity securities classified as held to maturity and expected credit losses (ECL) for fixed maturity securities classified as available for sale. Because our investment portfolio is the largest component of consolidated assets, CECL and ECL cou...
72
10K
DirectLineInsuranceGroupPLC-AR_2012
116
As a result of receiving state aid, RBS Group is required by the European Commission to cede control of Direct Line Group by the end of 2013 and to divest itself of any remaining shares in the Group by the end of 2014.
43
annual_report
4103
702
Our improved cash flow from operations in 2009 was primarily due to the increase in revenues compared to 2008 and reductions in employee costs and other operating expenses, partially offset by an increase in claims payments.
36
10K
ASRNederlandNV-AR_2019
925
DPRF, DCRF, DMOF and Dutch Science Park Fund (DSPF). These substantial retail, residential, office and science park funds are open to institutional investors who are looking for stable capital growth, enabling them to participate in these funds or outsource their national and international real estate investment manage...
70
annual_report
867
89
Earnings per share and cash dividends per share amounts have been restated to conform with stock dividends and splits.
19
10K
AvivaPLC-AR_2006
2,239
O therinform ation Aviva plc Annual Report and Accounts 2006 155 26 – Assets held to cover linked liabilities Certain unit-linked products have been classified as investment contracts, while some are included within the definition of an insurance contract. The assets backing these unit-linked liabilities are included w...
73
annual_report
NatixisSA-AR_2018
6,633
The information presented takes into account the impact of offsetting carried out in accordance with IAS 32 (see Note 6.3).(a)
20
annual_report
2033
493
In structuring our fixed maturity portfolios, we consider the duration of our assets and claims and claim expense reserves. Most fixed maturity portfolios have total return benchmarks against which relative performance is measured. The total return benchmarks include investment income and realized and unrealized gains ...
63
10K
ch_zurich_insurance_group-AR_2015
2,742
Total financial liabilities held at amortized cost (17,940) (19,282) (18,468) (19,084)
11
annual_report
SwissLifeHoldingAG-AR_2009
324
REGISTRATIONS — Swiss Life Holding shares are not subject to any limitations on transferability. Swiss and foreign banks and securities brokers may be entered in the share register as nominees if they are holding shares of Swiss Life Holding in their custody for the account of the beneficial owners. Professional asset ...
100
annual_report
2463
5,652
PXRE recognized a tax benefit of $6.2 million in 2004 compared to a tax expense of $0.8 million in 2003. The tax benefit for the year ended December 31, 2004 differed from the U.S. statutory rate primarily due to the reinsurance business written in our Bermuda reinsurance subsidiary, as well as losses incurred from our...
83
10K
ch_zurich_insurance_group-AR_2012
3,120
In Germany and Switzerland, surplus in the main life insurance entities is treated as required capital and free surplus is related to other companies included in the covered business. The increase in free surplus in Germany is mainly related to growth in assets outside of the main life insurance entities. In Switzerlan...
59
annual_report
2795
619
On February 1, 2006, James M. Benson was appointed to our Board of Directors. Mr. Benson fills a recently created Class III Board seat. Mr. Benson will be eligible for re-election as a Class III director at the Company’s 2007 Annual Meeting of Stockholders. The Board of Directors does not plan to appoint Mr. Benson to ...
73
10K
DirectLineInsuranceGroupPLC-AR_2018
714
The Group has also been focusing on Brexit from a potential crisis management perspective, with the objective of maintaining operational resilience in the event of a disruptive Brexit and with a view to being able to react better to events as they unfold.
43
annual_report
gb_prudential-AR_2006
6,060
Using external actuarial advice provided by the professionally qualified actuaries, Watson Wyatt Partners, for the valuation of PSPS, the most recent full valuations have been updated to 31 December 2006 applying the principles prescribed by FRS 17.
37
annual_report
2084
883
Guaranty fund and other insurance-related assessments - Liabilities for guaranty fund and other insurance-related assessments are accrued when an assessment is probable, when it can be reasonably estimated, and when the event obligating the entity to pay an imposed or probable assessment has occurred. Liabilities for g...
131
10K
5874
496
Total equity increased $229 million primarily driven by unrealized gains on investments due to tightening credit spreads and a $81 million capital contribution from Pruco Life to fund additional reserve requirements.
31
10K
SwissReAG-AR_2017
4,610
This is why we attach great importance to ongoing dialogue with our stakeholders. Drawing on the expertise from our core business, we identify key risk topics and take an active role in discussions about them. We share and exchange knowledge through many channels, eg our renowned publications including the sigma series...
106
annual_report
AvivaPLC-AR_2018
2,511
(a) The short-term fluctuations in investment return and economic assumption changes attributable to the non-life business result and reported outside operating profit were as follows: Non-life business 2018 £m
29
annual_report
NatixisSA-AR_2017
3,412
RISKS AND CAPITAL ADEQUACY Other risks 171Natixis Registration Document 2017 frequency risk represents the risk of a sudden materiala increase in delinquency by a high number of debtors. This risk is measured for each region and country by monitoring the instantaneous loss ratio(1) and the monthly indicator that breaks...
172
annual_report
5336
3,055
Interest and dividend income are recognized as earned and recorded to net investment income. Investment income, net of expenses, was generated from the following portfolios for the years ended December 31:
31
10K
4557
1,692
Latin America experienced strong sales growth driven primarily by accident & health products. In addition, sales of retirement products in Mexico as well as immediate annuity products in Chile increased over the prior year. Net investment income increased due to increased average invested assets and higher fee income o...
130
10K
Sampoplc-AR_2008
2,177
Sampo plc allocated 1,300,000 shares of the maximum of 1,500,000 shares of the programme.
14
annual_report
4137
1,857
At December 31, 2009, 83.6% of our losses recoverable were with reinsurers rated “A” or above by A.M. Best and 5.3% are rated “A-”. Grand Central Re, a Bermuda domiciled reinsurance company in which Max Bermuda has a 7.5% equity investment, is our largest “NR-not rated” retrocessionaire and accounted for 10.1% of our l...
93
10K
4887
779
Management believes that the Company's methods of estimating the liabilities for future policy benefits provided appropriate levels of reserves at December 31, 2014. Changes in the Company's future policy benefits estimates are recorded through a charge or credit to its earnings.
41
10K
5634
15,106
A significant portion of the incurred claim reserves and the recoverables can be attributed to a small number of catastrophic claims. Assessments paid to PLIGA for the EMB program totaled $8.9 million in 2018. The amounts of paid and unpaid recoverables as of December 31, 2018 and 2017 were $461 million and $493 millio...
55
10K
SwissLifeHoldingAG-AR_2005
2,528
Swissville Private Holding, Zürich Insurance 100.0% 100.0% full CHF 50 000
11
annual_report
1465
153
a. The loss and loss expense ratio, which measures losses and loss adjustment expenses incurred as a percentage of premiums earned.
21
10K
5217
1,198
For certain reserves, such as those related to guaranteed minimum death benefits (“GMDB”) and guaranteed minimum income benefits (“GMIB”), we utilize current best estimate assumptions in establishing reserves. The reserves are subject to adjustments based on annual reviews of assumptions and quarterly adjustments for e...
63
10K
5705
1,931
AFG can borrow up to $500 million under its revolving credit facility which expires in June 2021. Amounts borrowed under this agreement bear interest at rates ranging from 1.00% to 1.875% (currently 1.375%) over LIBOR based on AFG’s credit rating. There were no borrowings under this agreement, or under any other parent...
58
10K
2171
704
Our income tax (benefit) expense differs from the federal statutory rate as follows (000’s):
14
10K
5261
672
The recorded investment in syndicated loans at December 31, 2016 and 2015 was $392 million and $452 million, respectively. The Company’s syndicated loan portfolio is diversified across industries and issuers. The primary credit indicator for syndicated loans is whether the loans are performing in accordance with the co...
69
10K
AegonNV-AR_2012
5,077
which represents the increase in statutory reserves since the acquisition of OPTAS N.V. by Aegon.
15
annual_report
RSAInsuranceGroupPLC-AR_2008
456
IRELAND (WASTE DISPOSED) 10 UK (WASTE TO LANDFILL) 10 PAPER SWEDEN 51
12
annual_report
NatwestGroupPLC-AR_2012
6,661
On 26 November 2009, RBS entered into a State Aid Commitment Deed with HM Treasury containing commitments and undertakings that were designed to ensure that HM Treasury was able to comply with the commitments to be given by it to the European Commission for the purposes of obtaining approval for the State aid provided ...
116
annual_report
PowszechnyZakladUbezpieczenSA-AR_2017
1,675
1,404 million compared to 1,183 in the year before. The premium in non-life insurance increased by PLN 214 million y/y (or 18.9%). Such a dynamic increase was possible among others thanks to increase in the motor insurance premiums in the region, increase in the sale of property insurance – both in Lithuania and in Lat...
73
annual_report
BaloiseHoldingLtd-AR_2017
1,463
actuarial methods are used to calculate by far the largest proportion of claims reserves. to this end, the Baloise Group selects actuarial forecasting methods that are appropriate for each sector, insurance product and existing claims history. additional market data and assumptions obtained from insurance rates are use...
159
annual_report
2754
1,352
We believe liquid assets, along with investment income, premium income and marketing fees will be sufficient to meet our long and short-term liquidity needs. We do not have any current plans to borrow money for operations.
36
10K
AegonNV-AR_2018
5,880
At December 31, 2018, the letter of credit arrangements utilized by captives to provide collateral to affiliates amounted to EUR 3,469 million (2017: EUR 3,025 million); as of that date no amounts had been drawn, or were due under these facilities.
41
annual_report
3165
2,327
An estimate that claims expense will improve beyond the assumptions we utilized in our locked-in estimates due to the expected results from recently implemented and future planned improvements to our claims adjudication procedures.
33
10K
2134
2,901
Basic earnings per share as reported $ 2.84 $ 1.64 $ 0.87
12
10K
NatixisSA-AR_2014
9,945
As the premium was immediately recognized in the balance sheet, its revaluation led to the recording of income amounting to €11,856,275.41 for the 2014 fi nancial year.
27
annual_report
3084
434
The following table sets forth selected financial information. The selected financial information as of December 31, 2006 and 2005, and for the years ended December 31, 2006, 2005 and 2004 has been derived from our consolidated financial statements, which have been audited by KPMG LLP and are included elsewhere in this...
99
10K
AdmiralGroupPLC-AR_2012
782
In accordance with Section 439 of the Companies Act, an advisory resolution to approve this report will be proposed at the Annual General Meeting (‘AGM’) of the Company to be held on 25 April 2013. The detail in this report sets out how the remuneration principles have been applied in 2012.
51
annual_report
5181
1,482
Coverage for the Property & Casualty Insurance segment’s primary catastrophe reinsurance program effective January 1, 2013 to December 31, 2013 is provided in various layers as presented below.
28
10K
AegonNV-AR_2010
3,722
EUR 7 million (2009: EUR 6 million; 2008: EUR 6 million).
11
annual_report