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fr_axa-AR_2006
2,975
Underlying Expenses are: (i) Acquisition expenses, including commissions and general expenses allocated to new business, related to insurance products as well as to other activities (e.g., mutual fund sales).
29
annual_report
3734
6,149
(2)Amortized cost includes other-than-temporary impairment charges, as applicable. Trust preferred CDO underlying assets are primarily comprised of portfolios of preferred securities issued by a diversified portfolio of domestic banks and other financial institutions. The underlying collateral for our trust preferred C...
61
10K
5663
3,733
The contractual net value of the investment of securities lending collateral invested primarily in short-term bond funds is $135 million and $157 million and the liability for securities lending collateral is $135 million and $157 million for the years ended December 31, 2019 and 2018, respectively.
46
10K
4733
767
OptumRx completed the insourcing of pharmacy services for 12 million new and migrating customers served by UnitedHealthcare.
17
10K
HelvetiaHoldingAG-AR_2019
661
The better margin after costs, higher capital gains and the contribution to earnings from tax reductions in Switzerland led to a material increase in expenses for policyholder participation
28
annual_report
StorebrandASA-AR_2020
1,304
We will use the following metrics to measure, monitor and report climate-related risks and identify investment opportunities: • Climate risk assessment and monitoring: All portfolio managers are responsible for assessing and reporting on the climate risk profile of their portfolios. In addition, we have established a m...
52
annual_report
AvivaPLC-AR_2008
4,085
(iv) Equity compensation plans All transactions in the Group’s equity compensation plans involve options and awards for ordinary shares of the Company. Full disclosure of these plans is given in note 29. The cost of such options and awards is borne by all participating businesses and, where relevant, the Company bears ...
91
annual_report
nl_ing_grp-AR_2014
2,936
16 Debt securities in issue Debt securities in issue relate to debentures and other issued debt securities with either fixed interest rates or interest rates based on floating interest rate levels, such as certificates of deposit and accepted bills issued by ING Group, except for subordinated items. Debt securities in ...
104
annual_report
PosteItalianeSpA-AR_2015
1,128
16 The workforce at 1 January of each year is identical to the workforce at 31 December of the previous year. 17 Art. 2, paragraph 1-bis of Legislative Decree 368/01 requires, among other things, that fixed-term contracts must not represent more than 15% of a company’s workforce on 1 January of the year in which the st...
95
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2012
2,048
Reclassification –23 5 – –18 Carrying amount at 31 Dec. financial year 2,385 294 27 2,706 Accumulated amortisation and accumulated impairment losses at 31 Dec. financial year 1,000 682 30 1,712 Gross carrying amount at 31 Dec. financial year 3,385 976 57 4,418
43
annual_report
4849
754
The following table summarizes the proceeds and realized gains/(losses) on equity securities and certificates of deposit for the years ended December 31:
22
10K
2844
1,632
On October 22, 2004, Congress enacted the “American Jobs Creation Act” (AJCA), which provided a temporary incentive for U.S. corporations to repatriate earnings previously reinvested in foreign subsidiaries to obtain an 85% dividends received deduction. In December 2005, the Company repatriated $158 million of cumulati...
75
10K
1379
399
In July 1996, the Company approved the Senior Executives 1996 Stock Option Plan (the "Senior Executives Plan"). Under the terms of the Senior Executives Plan, the Company may issue up to an aggregate of 700,000 nonqualified stock options to Mr. Ratican and Mr. Froelich (the "Senior Executives" and individually the "Sen...
207
10K
StandardLifeAberdeenPLC-AR_2017
666
Fee based revenue 1,260 885 964 861 12 17 – – (125) (112) 2,111 1,651 Spread/risk margin – – 165 134 – – – – – – 165 134 Total adjusted operating income 1,260 885 1,129 995 12 17 – – (125) (112) 2,276 1,785 Total adjusted operating expenses (811) (534) (769) (655) (11) (22) (61) (57) 125 112 (1,527) (1,156) Adjusted op...
127
annual_report
ch_zurich_insurance_group-AR_2013
2,346
The portion recognized in income was a gain of USD 86 million and USD 35 million before tax for the years ended December 31, 2013 and 2012, respectively, as an offset to the foreign currency revaluation on the underlying hedged debt.
41
annual_report
de_allianz-AR_2003
1,460
At the same time, loan loss provisions went down very noticeably: at 1.0 billion euros, they were 54.4 percent lower than for the previous year. In spite of the persistently high number of insolvencies in the corporate customer business, we still managed to significantly cut back net additions to loan loss provisions w...
80
annual_report
3632
1,367
In 2008, Aon issued 0.4 million new shares of common stock for employee benefit plans. In addition, Aon reissued 9.1 million shares of treasury stock for employee benefit programs and 0.3 million shares in connection with employee stock purchase plans.
40
10K
NatixisSA-AR_2014
10,114
ADAM Association de Défense des Actionnaires Minoritaires (Association for the Defense of Minority Shareholders).
14
annual_report
AvivaPLC-AR_2020
2,259
– Annuitant mortality assumptions (Group) – Credit default assumptions for illiquid assets, specifically: commercial mortgages and equity release mortgages (Group) – Expense assumptions (Group)
24
annual_report
5156
730
Approximately 99% of our recorded amounts for deferred acquisition costs at December 31, 2015 were related to traditional products and are being amortized over the premium-paying period in proportion to the present value of actual historic and estimated future gross premiums. The projection assumptions for this busines...
126
10K
5293
898
In 2015, amortization of DAC on our Canadian segregated funds product was lower compared to 2014 due to the translation impact from the decline in the Canadian exchange rate, which reduced amortization by approximately $1.7 million. The year-over-year decline in DAC amortization was partially offset by the lower adjust...
74
10K
3363
812
Certain commission amounts are subject to forfeiture in circumstances where a member has prepaid his or her premium for a future period of coverage and subsequently cancels his or her policy before the completion of that period. We record an allowance for these forfeitures based on historical cancellation experience us...
148
10K
3885
769
Certain of our lines of business are subject to the potential for greater loss and loss settlement expense development than others. These lines with greater potential for development are discussed below.
31
10K
gb_prudential-AR_2014
5,217
f Option schemes The Group grants share options through four schemes, and exercises of the options are satisfied by the issue of new shares. Executive directors and eligible employees based in the UK may participate in the UK savings-related share option scheme, while employees based in Dublin are eligible to participa...
111
annual_report
3563
1,800
We capitalize software costs when the preliminary project stage is completed and management commits to fund the software project which it deems probable will be completed and used to perform the intended function. This policy is in accordance with AICPA Statement of Position 98-1 ‘‘Accounting for the costs of computer ...
83
10K
RaiffeisenBankInternationalAG-AR_2008
2,317
€000 Current < 31 days 31-90 days 91-180 days 181 days 1year > 1 year €000 Current < 31 days 31-90 days 91-180 days 181 days 1year > 1 year
30
annual_report
LloydsBankingGroupPLC-AR_2001
646
Opportunity; campaigns to improve opportunities for women and ethnic minorities in the work place. The Group is a member of the Employers’ Forum on Disability in support of employment of people with disabilities. This recognises the need for ensuring fair employment practices in recruitment and selection, and the reten...
56
annual_report
2222
872
On March 31, 2003, the sale of Sequoia Insurance Company ("Sequoia") closed for gross proceeds of $43.1 million, which consisted of $25.2 million in cash and a dividend of equity and debt securities previously held by Sequoia with a market value of $17.9 million. The net income from Sequoia included in PICO's condensed...
113
10K
AegonNV-AR_2014
2,411
D. Changes in internal controls over financial reporting There have been no changes in internal controls over financial reporting during the period covered by this Annual Report that have materially affected, or are reasonably likely to affect,
37
annual_report
ch_zurich_insurance_group-AR_2006
721
For one of the Group’s non-USD debt issuances fair value hedge accounting is applied. When hedge accounting is applied to debt issuances in a currency different than the functional currency of the entity, the carrying values of debt issues are adjusted for changes in fair values related to hedged exposure rather than c...
56
annual_report
3678
609
The table below shows our investments measured at fair value by level at December 31, 2008:
16
10K
de_allianz-AR_2019
5,232
Against this background and due to the material significance of the amounts for the assets, liabilities and financial performance of the Group and the complex process for determining the underlying assumptions and estimates of the executive directors, the measurement of these technical assets and liabilities as well as...
68
annual_report
2981
389
A determination must be made for deferred tax assets regarding whether it is more likely than not that sufficient taxable income will exist in future periods when deductible temporary differences are expected to reverse to enable the Company to realize the benefit of its deferred tax assets. If it is determined that it...
84
10K
gb_prudential-AR_2014
491
Valuable customer franchise With—a—pedigree—stretching—back—over—more— than—166—years,—the—Prudential—UK—business— has—built—the—foundation—of—the—Group’s— iconic—brand—and—its—cash,—capital—and— credit-ratings—performance.—Our—approach— in—the—UK—is—driven—by—a—focus—on—providing— long-term—value—to—our—customers—base...
23
annual_report
NatixisSA-AR_2010
2,167
Regulatory capital requirements as at December 31, 2010 were as follows: (in millions of euros) Type and nature of risk
20
annual_report
DirectLineInsuranceGroupPLC-AR_2013
1,303
The key issues and areas of focus during 2013 The external auditor provided updates to the Committee on the following key issues during 2013: • reserve valuation; • investment valuation; • reinsurance asset valuation; • revenue recognition; • transformation projects; and
41
annual_report
fr_axa-AR_2018
4,867
Cumulative redundancy (deficiency) from the initial gross reserves in excess of re-estimated gross reserves (e): (a) In accordance with IFRS 3, i.e. within 12 months following the acquisition date, the Group adjusted certain items impacting the allocation of Seguros ING (Mexico) purchase price, resulting in a €33 milli...
72
annual_report
INGGroepNV-AR_2008
3,575
Economic and Regulatory Capital• Seven synthetic securitisations of mortgages, small and medium enterprise (SME) and corporate exposures have been issued since ING began actively undertaking the securitisation of its own assets in 2003. Upon the closer alignment of transfer and regulatory capital solvency rules at year...
81
annual_report
4922
1,752
With the exception of the Level 3 rollforward table, additional disclosure for the Level 3 category is not material.
19
10K
2331
1,137
An increasingly significant portion of premiums reported within the insurance segment are generated outside the United States. The following table summarizes net premiums earned by geographic location of risk for years ended December 31, 2003, 2002 and 2001.
38
10K
1844
240
W. R. Berkley and its subsidiaries own or lease office buildings or office space suitable to conduct their operations. At December 31, 2001, the Company had aggregate office space of 1,157,569 square feet, of which 843,149 was owned and 314,420 was leased.
42
10K
1735
347
The Company's losses and loss adjustment expenses comprise case basis reserves and a non-specific general reserve. A case basis reserve is recorded at the net present value of an estimated loss when, in management's opinion, the likelihood of a future loss on a particular insured obligation is probable and determinable...
258
10K
3154
675
Our 2007 catastrophe reinsurance program is similar to the 2006 structure, but includes an additional $50 million layer of protection on top of our previous $150 million cover. The cost of our base catastrophe reinsurance program, which includes the purchase of the additional cover, will adversely impact our 2007 earni...
56
10K
5488
741
2016 also reflects finder’s fees, legal and accounting costs and other transaction-related expenses at the Alleghany Capital level. The increase in other revenue and other operating expenses in 2016 from 2015 primarily reflects the acquisition of IPS on October 31, 2015, the inclusion of Jazwares in our consolidated re...
63
10K
PhoenixGroupHoldingsPLC-AR_2019
3,274
Present value of future profits on non-participating business in the withprofit funds For UK with-profit life funds, an amount may be recognised for the present value of future profits (‘PVFP’) on non-participating business written in a with-profit fund where the determination of the realistic value of liabilities in t...
59
annual_report
StorebrandASA-AR_2005
399
Absence due to illness as an average annual percentage 4.1% 4.8% Max. 4%
13
annual_report
HiscoxLtd-AR_2020
434
The Group manages the underwriting portfolio so that in a 1-in-200 aggregate bad year it will lose no more than 12.5% of core capital plus 100% of buffer capital ($135 million), with an allowance for expected investment income. A market loss of this magnitude would be expected to bring about increases in the pricing of...
58
annual_report
gb_prudential-AR_2015
1,070
In accordance with provision C.2.2 of the UK code, the directors have assessed the prospects of the Company and the Group by reference to the three-year planning period to December 2018. The Group prepares a business plan annually covering a three-year period on a rolling basis. This plan covers projected performance w...
188
annual_report
5731
1,544
In the cumulative paid losses tables, we reflect the amount of the commutation or policy buyback settlements in the year in which they are actually paid or received, and the net payment is allocated to the appropriate accident year. The claim or recoverable may have recorded payments or receipts throughout its lifetime...
162
10K
HelvetiaHoldingAG-AR_2001
768
Deferred taxation has been effected based on local income tax rates for all revalued items.
15
annual_report
NatixisSA-AR_2014
4,512
Further to the application of the equity method, there is no unrecognized share of losses over the period in joint ventures or associates.
23
annual_report
5503
1,081
The 64.0 percent ratio for current accident year loss and loss expenses before catastrophe losses for 2017 rose 1.0 percentage points compared with the 63.0 percent accident year 2016 ratio measured as of December 31, 2016. The increase included a 2.2 percentage-point increase in the ratio for current accident year los...
77
10K
TrygAS-AR_2009
1,693
The acquisition is expected to enhance efficiency in the distribution of insurances in the Swedish market and to contribute to growth, in particular in the Swedish market.
27
annual_report
3281
1,085
The calculations of segment data are described in more detail in Item 8, Note 17 of the Consolidated Financial Statements, Page 96. The following sections review results of operations for each of the four segments. Commercial Lines Insurance Results of Operations begins on Page 44, Personal Lines Insurance Results of O...
96
10K
3223
1,203
In its reserving process in 2002 and 2003, the reinsurance segment recognized that there is a possibility that the assumptions made could prove to be inaccurate due to several factors primarily related to the start up nature of its operations. Due to the availability of additional data, and based on reserve analyses, i...
122
10K
5407
530
Reinsurance recoverable on both paid losses and loss reserves represents amounts due to the Company, or expected to be due to the Company from its reinsurers, based upon claims and claim reserves which have exceeded the retention amount under our reinsurance treaties. As of December 31, 2017, we have recorded an expect...
172
10K
TrygAS-AR_2012
1,026
Risk management at Tryg is organised on the basis of three lines of defence: The first line of defence is the business managers, who manage and control all significant risks associated with their own activities. This takes place on an operational level and involves establishing business procedures, contingency plans an...
60
annual_report
gb_prudential-AR_2013
3,948
Credit risk Interest rate risk Profit and loss and shareholders’ equity are volatile for these risks as they affect the values of derivatives and embedded derivatives and impairment losses. In addition, shareholders’ equity is volatile for the incidence of these risks on unrealised appreciation of fixed income securiti...
54
annual_report
5243
863
The fair values of each of our operating units were in excess of their respective carrying values, including goodwill, as a result of our annual test for impairment during the fourth quarter 2016. However, a 10% decline in the fair value of our Standard Commercial P&C operating unit, a 7% decline in the fair value of o...
149
10K
4923
1,467
Administrative services fees and other income decreased by $36.5 million for the year ended December 31, 2014 as compared to the year ended December 31, 2013, primarily due to a settlement related to a pharmacy contract in 2013 and the change in the reimbursement methodology of Section 1202 of the ACA in 2014.
53
10K
HannoverRueckSE-AR_2011
4,210
19,213.3 million (EUR 17,036.6 million) as at the balance sheet date.
11
annual_report
4859
1,541
The total fair value of shares that vested during the years ended December 31, 2014, 2013 and 2012 was $147 million, $151 million and $146 million, respectively.
27
10K
4681
2,458
Year ended December 31, 2012 compared to the year ended December 31, 2011
13
10K
4064
769
In 2009 and 2008, we did not have material exposure to foreign currency related risk.
15
10K
4335
1,037
The Company obtains one price for each security from an independent third-party valuation service provider, which uses quoted or other observable inputs for the determination of fair value as noted above. As the Company is responsible for the determination of fair value, the Company performs quarterly analyses on the p...
66
10K
gb_prudential-AR_2008
3,622
Actuarial gains and losses: Actual less expected return on pension scheme assets (97) 4 Experience gains (losses) on scheme liabilities 18 (4) Changes in assumptions underlying the present value of scheme liabilitiesa 71 (7)
34
annual_report
4432
4,084
Although realization is not assured, management believes as of December 31, 2011 and 2010, it is more likely than not that the deferred tax assets, including our capital loss deferred tax asset, will be realized.
35
10K
AegonNV-AR_2009
2,462
Third party pricing services will often determine prices using recently reported trades for identical or similar securities. The pricing service makes adjustments for the elapsed time from the trade date to the balance sheet date to take into account available market information. Lacking recently reported trades, third...
92
annual_report
1329
572
As of and for the year ended December 31, 1998 (dollars in thousands):
13
10K
NatwestGroupPLC-AR_2007
3,469
Insurance principally arose from the acquisition of Churchill in 2003. The recoverable amount for RBS Insurance exceeds the carrying value by over £1.5 billion. The multiples or earnings would have to be less than one third of those used to cause the value in use of the units to equal their carrying value.
53
annual_report
NatixisSA-AR_2009
210
Chairman, Compensation Committee First appointed: Board Meeting of 04.30.2009 Term expires: 2015 AGM (b)
14
annual_report
4774
1,850
Accordingly, the Company performed a Step 2 impairment test on the Commercial Insurance reporting unit. Based on the results, the Company recorded a non-cash goodwill impairment charge of $214.0 million to write-down all of the goodwill in the Commercial Insurance reporting unit as of June 30, 2013. As of June 30, 2013...
69
10K
LloydsBankingGroupPLC-AR_2018
1,790
Committee will continue to pay close attention to how the underlying models perform in potentially volatile economic scenarios.
18
annual_report
5434
626
Our underwriting and other operating expenses ratio was 19.5%, 19.7%, and 19.5%, and our underwriting and other operating expenses were $139.9 million, $136.1 million, and $135.2 million for the years ended December 31, 2017, 2016, and 2015, respectively. During the year ended December 31, 2017, our compensation-relate...
113
10K
fr_axa-AR_2014
7,433
In the United States, AXA Equitable discontinued benefi t accruals under its defi ned benefi t pension plans after December 31, 2013 and provides a company defi ned contributions benefi t plan for services after January 1, 2014.
38
annual_report
10
231
Realized investment losses (resulting primarily from writedowns) reduced operating earnings by $119.1 million and $26.4 million for 1992 and 1991, respectively. See "Insurance Operations" following for additional information regarding items of an infrequent and non-recurring nature which have affected ICH's operating r...
42
10K
4356
1,228
The reserves for the long-term traditional mortality and TCI reinsurance portfolio are established in accordance with the provisions for long duration insurance contracts under U.S. GAAP and follow the reserving methodology discussed under the Longevity section above.
37
10K
PosteItalianeSpA-AR_2019
8,821
Vesting of the phantom stocks is subject to achievement of the Performance Hurdle, designed to ensure sustainability of the Plan. The Performance Hurdle corresponds with achievement of a certain target for the Group’s cumulative EBIT over a threeyear period at the end of each Performance Period. In addition, vesting, a...
106
annual_report
4625
1,068
The Company sponsors a defined contribution retirement plan under Section 401(k) of the Internal Revenue Code. The plan covers substantially all employees who meet specified service requirements. Under the plan, the Company may, at its discretion, match 100% of each employee’s contribution, up to 3% of the employee’s e...
78
10K
5831
1,570
Results from our underwriting, investing, Markel Ventures and other operations have been and will continue to be potentially materially affected by these factors. In addition, with respect to previously reported developments at Markel CATCo and the decision to place both the Markel CATCo Reinsurance Fund Ltd., a Bermud...
67
10K
LloydsBankingGroupPLC-AR_2015
162
Building the best team We recognise the strategic importance of colleague engagement and the role that this plays in ensuring the continued delivery of our strategic priorities. The latest colleague survey results show that colleague engagement has continued to improve to the highest level to date and that our performa...
121
annual_report
gb_prudential-AR_2004
850
In determining the 2004 conditional awards the shares were valued at their average share price during the preceding calendar year, and the price used to determine the number of shares was 398.3 pence (2003: 570.3 pence).
36
annual_report
5526
903
Domestic Agency Automobile net written premiums of $4.65 billion in 2017 were 13% higher than in 2016. Business retention rates remained strong in 2017. Renewal premium changes in 2017 remained positive and were higher than in 2016. New business premiums in 2017 decreased from 2016.
45
10K
2162
641
We write business throughout the United States of America, with an emphasis on markets in the Midwest. During 2003, approximately 67% of direct premiums written by the Company occurred in Midwestern states.
32
10K
2251
1,112
Net cash provided by financing activities was $2,527.9 million, $4,029.9 million and $2,182.8 million for the years ended December 31, 2003, 2002 and 2001, respectively. Changes in cash provided by financing activities primarily relate to the execution of transactions with our customers demonstrated by deposits and wit...
288
10K
4225
2,764
Certain of AIG's foreign subsidiaries included in the consolidated financial statements report on different fiscal year bases, in most cases ending November 30. The effect on AIG's consolidated financial condition and results of operations of all material events occurring between the fiscal year end and December 31 for...
54
10K
SwissLifeHoldingAG-AR_2014
1,380
Swiss Life – Annual Report 2014 statement of income for the year ended 31 December 2013
16
annual_report
2196
1,077
principal and interest payments: $30,000 interest only per year in 2003 and 2004; principal payments thereafter beginning in 2005 through 2007.
21
10K
5453
1,973
As of December 31, 2015 (Successor Company), net unrealized losses reported in AOCI were offset by $623.0 million due to the impact those net unrealized losses would have had on certain of the Company's insurance assets and liabilities if the net unrealized losses had been recognized in net income.
49
10K
1265
600
contributions to these plans vary, based upon retiree's age, years of service and coverage elected. The Company periodically amends the plan changing the contribution rate of retirees and amounts of coverage.
31
10K
HannoverRueckSE-AR_2005
0
+++ Despite historically unprecedented natural catastrophe losses in property and casualty reinsurance breakeven result for 2005 achieved +++ Life and health reinsurance shows vigorous growth and strong profitability +++ Financial reinsurance highly profitable despite sharply reduced premium volume +++ Restructuring of...
83
annual_report
4468
659
Because the investments portfolio is comprised of primarily fixed maturity instruments that are usually held to maturity, periodic changes in interest rate levels generally impact our financial results to the extent that the investments are recorded at market value and reinvestment yields are different than the origina...
88
10K
3557
2,761
Chase Insurance Group which was acquired in the third quarter of 2006.
12
10K
2524
1,330
At December 31, 2002, the unrealized loss on temporarily impaired investments totaled $554,239 for equity securities with a fair value of $7,964,000. All equity securities were impaired for less than one year. Temporarily impaired equity securities are a result of market value changes and are expected to regain the los...
54
10K
692
250
The Company participates in reinsurance in order to limit losses, minimize exposure to large risks, provide additional capacity for future growth and to effect business-sharing arrangements. Reinsurance is accomplished through various plans of reinsurance, primarily yearly renewable term coinsurance and modified coinsu...
144
10K
4007
1,043
Paid Loss Development Method. We estimate ultimate losses by calculating past paid loss development factors and applying them to exposure periods with further expected paid loss development. The paid loss development method assumes that losses are paid in a consistent pattern. It provides an objective test of reported ...
78
10K
GjensidigeForsikringASA-AR_2020
770
Our core values shall help us to develop a culture that enables us to face the future head-on.
18
annual_report
5928
1,642
The carrying values and estimated fair values of the Company's financial instruments related to businesses held for sale as of the dates indicated:
23
10K
5331
743
2016 prior period reserve development: The reinsurance segment’s net favorable development of $218.8 million, or 20.7 points of net earned premium, consisted of $133.8 million from short-tailed lines and $85.0 million of net favorable development from medium-tailed and long-tailed lines. Favorable development in short-...
123
10K
3980
1,136
Net premiums earned increased 22.9% for the year ended December 31, 2009, compared to the same period of 2008. This increase was partially offset by lower gross premiums written, primarily California and Nevada, which had $33.3 million and $17.3 million lower gross premiums written for the year ended 2009 compared to t...
97
10K