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4201
970
Prior to and through December 31, 2010, the underwriting results retained by Erie Insurance Company and Erie Insurance Company of New York accrued to the benefit of the Indemnity shareholder interest. Due to the sale of Indemnity’s property and casualty subsidiaries to the Exchange on December 31, 2010, all property an...
105
10K
4453
1,485
The preparation of the financial statements requires us to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. We base our judgments, estimates and assu...
139
10K
Sampoplc-AR_2005
2,471
denominated in, for example, Euro is matched against the corresponding amount invested in Euro.
14
annual_report
4335
642
We maintain provider networks that furnish health care services through contractual arrangements with physicians, hospitals and other health care providers. Prescription drug benefits are provided through a formulary comprised of an extensive list of drugs. Drug prices are negotiated at discounted rates through a natio...
59
10K
5100
1,646
The maximum potential amount of future payments under Ambac’s credit derivative contracts is generally the gross principal notional outstanding amount included in the above table plus future interest payments payable by the derivative reference obligations. Since Ambac’s credit derivatives typically reference obligatio...
82
10K
PhoenixGroupHoldingsPLC-AR_2020
5,682
I. OTHER NOTES continued I1. Share-Based Payment continued I1.2 Share-based payment schemes continued Deferred Bonus Share Scheme (‘DBSS’) Each year, part of the annual incentive for certain executives is deferred into shares of the parent company. The grant of these shares is conditional on the employee remaining in e...
120
annual_report
NatixisSA-AR_2020
12,009
Partnership agreement between Natixis 1. Investment Managers, Ostrum Asset Management, Topco, La Banque Postale Asset Management, in the presence of Natixis, BPCE and La Banque Postale.
26
annual_report
gb_prudential-AR_2009
3,521
The net derivative positions as shown in the table above comprise the following derivative assets and liabilities: Derivative assets 1,780 2,370
21
annual_report
HiscoxLtd-AR_2003
493
Other non-audit services* Work performed in relation to: – Rights Issue/Open Offer – – 190 69% – Other corporate projects 11 11% – –
24
annual_report
5172
14,047
Represents impact of liquidity spread to account for OneBeacon’s sole ownership of the surplus notes, lack of a trading market and ongoing regulatory approval risk.
25
10K
DirectLineInsuranceGroupPLC-AR_2019
1,908
3. Mike Holliday-Williams was made redundant on 30 June 2019 and therefore did not receive the second LTIP grant in August 2019.
22
annual_report
fr_axa-AR_2012
6,981
Actual return on plan assets 737 322 544 516 (1,498) (1) (1) 0 (0) (1)
15
annual_report
ScorSE-AR_2018
557
◆ Personal Accident also represents a small proportion of SCOR Global Life’s portfolio. A main source of Personal Accident business for SCOR Global Life is obtained through its distribution services company, ReMark, which provides direct marketing of life insurance products to insurers, financial institutions and affin...
47
annual_report
de_allianz-AR_2012
1,130
Real estate Allianz Real Estate (ARE) has launched a comprehensive sustainability program, with a focus on environmental factors, to support our Group commitment to significantly reduce our carbon emissions and meet the market’s demand for sustainable real estate. Specific sustainability standards now apply to ARE’s co...
103
annual_report
SwissReAG-AR_2018
1,126
Based on the Group’s capital strength, the Board of Directors proposes a 2018 regular dividend of CHF 5.60 per share. In addition, the Board of Directors proposes a further public share buyback programme at the discretion of the Board of Directors and subject to obtaining all necessary legal and regulatory approvals.
51
annual_report
3283
1,081
The aggregate intrinsic values in the table above are before applicable income taxes and are based on the Company’s closing stock price of $15.08 and $18.01 at December 31, 2007 and 2006, respectively. As of December 31, 2007, total unrecognized stock-based compensation cost related to nonvested stock options was appro...
102
10K
2121
10,525
The assets (substantially all cash and investments carried at market as "trading securities") of this managed investment entity are separately disclosed in the Consolidated Balance Sheet because they are not available for use to satisfy AFG obligations. Likewise, the CDO liabilities (substantially all debt) are separat...
82
10K
2202
651
If the Merger with AXA Financial Does Not Close for Any Reason, the Company’s Profits and Financial Condition Could Deteriorate Drastically
21
10K
5681
264
Consolidated Statements of Shareholder’s Equity - Years ended December 31, 2019, 2018 and 2017
14
10K
NatwestGroupPLC-AR_2013
4,139
New product risk assessment The Group’s new product risk assessment process is used to ensure that risks for all new products (and material variations to existing products) are adequately identified and assessed before their launch. The assessment documentation and review includes the requirement to demonstrate that th...
53
annual_report
1080
667
The Company has from time to time sought to obtain a committed line of credit; however, to date has not secured such a line of credit. Accordingly, the Company cannot state with any degree of certainty at this time whether it could obtain such a line of credit or whether additional equity capital or other working capit...
75
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2012
1,720
The changeover does not lead to any changes to the consolidated result. The adjustments result in shifts within and between the segments. This applies to both technical and non-technical items.
30
annual_report
3674
3,682
It is anticipated that a pre-tax loss of approximately $30 million will be reclassified from “Accumulated other comprehensive income (loss)” to earnings during the year ended December 31, 2009, offset by amounts pertaining to the hedged items. As of December 31, 2008, the Company does not have any qualifying cash flow ...
124
10K
157
1,351
In September 1995, effective January 1, 1995, ATIS paid a non-monetary dividend to ATC in the amount of $249.
19
10K
4233
1,277
Statutory accounting practices prescribed or permitted by regulatory authorities for the Company's insurance subsidiaries differ from GAAP. The National Association of Insurance Commissioners (NAIC) has issued model laws and regulations, many of which have been adopted by state insurance regulators. However, states hav...
74
10K
fr_axa-AR_2017
437
It would be inconsistent to commercially support industries that the Group is divesting from. Therefore, AXA will stop insuring any new coal construction projects. Similarly, the Group will stop insuring the main oil sands and the associated pipeline businesses.
39
annual_report
5646
3,677
The pension plan's expected long-term rate of return represents the average rate of return to be earned on plan assets over the period the benefits included in the benefit obligation are to be paid. To determine the expected long-term rate of return assumption, we utilized models based upon rigorous historical analysis...
135
10K
PhoenixGroupHoldingsPLC-AR_2019
2,919
Subsequent to initial recognition, financial liabilities (except for liabilities under investment contracts without DPF and other liabilities designated at FVTPL) are measured at amortised cost using the effective interest method.
30
annual_report
4918
1,184
A large part of the revenues for the specialty insurance businesses are generated by renewals and are not dependent on the level of real estate activity in the year of renewal. With the exception of loss expense, the majority of the expenses for this segment are variable in nature and therefore generally fluctuate cons...
59
10K
StandardLifeAberdeenPLC-AR_2016
2,114
Revenue Gross earned premium 2,139 2,276 Premium ceded to reinsurers (47) (48) Net earned premium 2,092 2,228
17
annual_report
CNPAssurancesSA-AR_2020
176
In France, some of our life insurance policies are available for an initial investment of just €75, and the CNP Immo Prestige unit-linked vehicle opens up the prospect of earning returns on upscale real estate in Paris from an investment of just €5,000.
43
annual_report
AegonNV-AR_2012
1,840
United States are now affected by Regulations XXX and AXXX, respectively.
11
annual_report
RSAInsuranceGroupPLC-AR_2012
980
Board procedures, governance matters and Directors’ responsibilities, along with a series of meetings with members of the Board and
19
annual_report
SwissLifeHoldingAG-AR_2006
34
The implementation of our strategy continues to proceed according to plan. Our company has developed into a focused European life insurer over the past several years. The turnaround achieved in 2003 and 2004 was quite impressive. In 2005 and 2006, we made good progress towards our stated goal of sustained, profitable g...
52
annual_report
StorebrandASA-AR_2004
923
Storebrand were well in line with the performance of the Oslo stock exchange. International equity funds were affected by the strength of the Norwegian krone and the weakness of the US dollar. The performance of Asian equity funds was again very strong relative to benchmark indices, while other equity funds produced re...
73
annual_report
3300
640
This change in our business model impacted our operating results and the comparability of 2007 to 2006 and 2006 to 2005 operating results in several ways, including the following:
29
10K
PhoenixGroupHoldingsPLC-AR_2011
1,660
– The Trustees being granted a first charge over shares in Pearl Assurance Limited, National Provident Life Limited, London Life Limited, Pearl Group Services Limited and PGS 2 Limited to secure an amount not exceeding 60% of the deficit arising on the triennial scheme valuation (as calculated in accordance with the te...
275
annual_report
5918
874
The CNA Health and Group Benefits Program has limited its share of the health care trend rate to a cost-of-living adjustment of 4% per year. For all participants, the employer subsidy on health care costs will not increase by more than 4% per year. As a result, the assumed health care cost trend rate used in measuring ...
79
10K
SwissReAG-AR_2014
2,385
equity securities. In markets with reduced or no liquidity, spreads between bid and offer prices are normally wider compared to spreads in highly liquid markets. Such market conditions affect the valuation of certain asset classes of the Group, such as some asset-backed securities as well as certain derivative structur...
53
annual_report
4110
1,497
Management estimates uncollectible amounts receivable from reinsurers based on an assessment of a number of factors. The Company recorded no allowance for uncollectible reinsurance at December 31, 2009 and 2008 and did not write-off any balances from reinsurers during the three year period ended December 31, 2009.
47
10K
3169
1,238
The ceding of insurance does not legally discharge us from primary liability under our policies and we must pay the loss if the reinsurer fails to meet its obligations. We believe all reinsurance receivables are collectable. Historically, we have acted as a reinsurer, assuming both property and casualty reinsurance fro...
123
10K
1555
419
Revenues: Total revenues prior to the reduction for ceded premiums increased $18,204,000 (9%) for the year ended December 31, 2000 compared to the same period in 1999 (from $212,137,000 to $230,341,000), and increased $106,023,000 (112%) from fiscal 1998 to fiscal 1999 (from $94,837,000 to $200,860,000) . These increas...
91
10K
gb_prudential-AR_2019
1,405
Strategic report approval by the Board of Directors The strategic report set out on pages 10 to 87 is approved by the Board of Directors.
25
annual_report
4029
1,612
The fair value of each option award granted under the share-based compensation plans was estimated using the Black-Scholes option pricing model as of the grant date using the assumptions noted in the following table. The Black-Scholes model uses the expected term as an input with the calculated option value varying dir...
136
10K
NatwestGroupPLC-AR_2013
4,222
Risk management and measurement The Group seeks to reduce strategic risk by employing a disciplined strategic framework based on five enduring tests (leading customer franchises, returns, risk, sustainable growth, connectivity) and by assigning responsibility for strategy development to line management. Key strategies ...
104
annual_report
4228
974
level of assets supporting this line of business and a decline in the level of prepayment income on mortgage-backed securities, partially offset by an increase in bond call premiums. Other income includes ASO fees of $57.6 million and $59.2 million for 2010 and 2009, respectively.
45
10K
1888
505
Consolidated Statements of Shareholders' Equity for the years ended December 31, 2002, 2001 and 2000......................30
15
10K
NatixisSA-AR_2019
9,238
In accordance with delegated regulation 2015/63 and implementing regulation 2015/81 supplementing the BRRD Directive on ex-ante contributions to financing mechanisms for the resolution, the Single Resolution Board set the level of contributions to the Single Resolution Fund for 2019. Contributions paid to the fund may ...
74
annual_report
RaiffeisenBankInternationalAG-AR_2014
3,368
The Group fulfills the obligation arising from Clause 11 of the Annex to Section 39b of the Austrian Banking Act (BWG) which stipulates that at least 50 per cent of the variable remuneration of risk personnel must be paid out in the form of shares or similar non-cash instruments by means of a phantom share plan as foll...
172
annual_report
HannoverRueckSE-AR_2011
1,952
In order to limit the risk of counterparty default we define various limits on the issuer and issue level as well as in the form of dedicated rating quotas. A comprehensive system of risk reporting ensures timely reporting to the functions en­
42
annual_report
3904
195
For more detailed information on our accounting policy for the fair value of financial assets and financial liabilities and information on the financial assets and financial liabilities included in the levels promulgated by SFAS No. 157, see Note 2 of the consolidated financial statements.
44
10K
NatixisSA-AR_2017
1,115
Chairman of the Board of Directors: of Banque du Léman (Switzerland) (sincea 2013), Rhône Alpes Cinéma (since 07.26.2016)
18
annual_report
4077
1,251
One security was from an originator of residential prime, Alt-A and subprime mortgages that was written down $4.2 million. The significant decline in the subprime and non-conforming mortgage markets resulted in a reduction in value for this security.
38
10K
gb_prudential-AR_2010
826
Total 3,676 190 3,866 3,394 30 3,424 Less: Holding company cash and short-term
13
annual_report
AegonNV-AR_2019
9,599
2 Share purchase program announced on June 19, 2019 3 Share purchase program announced on September 18, 2019
18
annual_report
SwissLifeHoldingAG-AR_2015
1,798
Net insurance benefits and claims –11 333 –2 288 –1 591 –9 – 2 –15 218 0 –15 218
19
annual_report
fr_axa-AR_2012
6,209
In the tables presented in Note 14.9.1 and 14.9.2, liabilities arising from Life & Savings and Property & Casualty insurance and investment contracts exclude contracts where the fi nancial risk is borne by policyholders. These liabilities are not exposed to interest rate or duration risk, except Unit-Linked contracts w...
72
annual_report
AvivaPLC-AR_2011
2,228
Losses due to defaults by counterparties, including potential sovereign debt defaults or restructurings, could adversely affect the value of our investments and reduce our profitability and shareholders’ equity. We choose to take and manage credit risk through our investment assets partly to increase returns to policy ...
60
annual_report
4822
983
Our entire investment portfolio is classified as available-for-sale and is reported at fair value. The related unrealized gains or losses are, after considering the related tax expense or benefit, recognized as a component of accumulated other comprehensive income in stockholders' equity. Realized investment gains and ...
106
10K
4095
1,513
as well as updated assumptions for other actuarial and capital markets inputs. In light of recent developments, including rating agency downgrades to the claims-paying ratings of our insurance subsidiaries, beginning in the first quarter of 2009, we incorporated an additional spread over LIBOR into the discount rate us...
119
10K
5452
1,310
facility of the same amount. As of December 31, 2017, $26.3 million of costs have been incurred related to this project. Increases in purchases of available-for-sale securities and fixed assets, coupled with lower cash generated from the return of capital from limited partnerships, contributed to cash used in 2016, com...
79
10K
3511
1,963
•Net income decreased 7.2% to $4.64 billion in 2007 from $4.99 billion in 2006. Net income per diluted share decreased 0.9% to $7.77 in 2007 from $7.84 in 2006.
29
10K
AegonNV-AR_2011
5,645
Cash collateral is recorded on the statement of financial position as an asset and an offsetting liability is established for the same amount as AEGON is obligated to return this amount upon termination of the lending arrangement.
37
annual_report
5213
868
A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over fi...
151
10K
4374
1,167
1 U.S. government includes corporate securities fully guaranteed by the FDIC.
11
10K
NatwestGroupPLC-AR_2020
1,753
Board Committees also comprise directors with a variety of skills and experience so that no undue reliance is placed on any one individual.
23
annual_report
5533
804
Mercer's revenue in 2018 increased 5% over the prior year to $4.7 billion, or 3% on an underlying basis. Mercer's year over year revenue comparison also reflects an increases of 1% from acquisitions and 1% from the impact of foreign currency translation. The underlying revenue growth reflects an increase in Career of 5...
99
10K
4534
981
Represents the provision for losses attributable to loans that were in default as of the beginning of each period indicated, including: (a) the change in reserves for loans that were in default status (including pending claims) as of both the beginning and end of each period indicated; (b) the net impact to provision f...
99
10K
5743
1,568
The Company recorded equity in net income related to investments accounted for using the equity method of $123.7 million for 2019, compared to $45.6 million for 2018 and $142.3 million for 2017.
32
10K
976
436
- ---------- (1) The U.K. operations of PXRE Limited and PXRE Managing Agency are included in the consolidated results on a one quarter lag basis beginning in 1997.
28
10K
fr_axa-AR_2008
1,309
(a) including €–6 million in 2008 (€896 million in full year 2007 and €1,217 million in full year 2006) of business fronted by AXA RE and fully reinsured by Paris RE (fronting arrangement set in place in the context of the sale of AXA RE’s business to Paris RE).
49
annual_report
fr_axa-AR_2008
3,454
1.19. SUBSEQUENT EvENTS Subsequent events relate to events that occur between the balance sheet date and the date when the financial statements are authorized for issue: • such events lead to an adjustment of the consolidated financial statements if they provide evidence of conditions that existed at the balance sheet ...
74
annual_report
de_allianz-AR_2017
1,590
Carlo simulation, taking into account interdependencies and exposure concentrations per obligor segment. The loss profiles are calculated at different levels of the Allianz Group, and then fed into the internal model at each level for further aggregation across sources of risk to derive diversified credit risk.
46
annual_report
3995
1,586
We underwrite the assumed group life, accident and health business and administer the claims. Disputes, if any, are administered in the normal course of business. The majority of the assumed reinsurance is due to medical excess products. Although very similar to our direct medical stop-loss business, it is written as e...
86
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2007
2,173
The goodwill from the acquisition of Munich Re America (carrying amount of €944m) and from the acquisition of shares in the ERGO Insurance Group (carrying amount of €1,754m) was allocated to the cash generating units “reinsurance property-casualty segment” and “ERGO” respectively. The recoverable amount of these units ...
80
annual_report
79
261
DEFERRED INCOME TAXES: Deferred income taxes have been provided for all temporary differences between the bases of assets and liabilities used in the financial statements and the Corporation's tax returns. Deferred income taxes are also provided for unrealized appreciation (depreciation) of equity securities and certai...
68
10K
NatwestGroupPLC-AR_2010
3,639
Notes: (1) The prior year fees include £21.9 million in respect of the audit of ABN AMRO Holdings N.V., of which £8.8 million related to the interests of the State of the Netherlands and Santander. (2) Includes fees of £1.2 million (2009 - £1.7 million) in relation to reviews of interim financial information and £2.0 m...
130
annual_report
INGGroepNV-AR_2019
75
This is slightly below our ambition to generate an underlying ROE
11
annual_report
3425
1,600
of new filings has decreased. Various challenges to mass screening claimants have been successful. Historically, the majority of asbestos bodily injury claims have been filed by persons exhibiting few, if any, disease symptoms. Studies have concluded that the percentage of unimpaired claimants to total claimants ranges...
106
10K
5634
10,403
Adoption of the guidance on January 1, 2018 under the modified retrospective approach resulted in the recognition of an immaterial after-tax net cumulative effect increase to the beginning balance of retained income. In addition to the net cumulative effect, the
40
10K
fr_axa-AR_2015
642
Southern Europe. It will also support the Group’s acceleration in high growth markets such as China, Latin America, Turkey and Poland. Moreover, with Genworth LPI’s strong and lasting relationships with major banks, insurance companies and auto fi nance providers, AXA credit and lifestyle protection activities will be ...
56
annual_report
DirectLineInsuranceGroupPLC-AR_2012
2,148
The tables below analyse, by type of asset, the credit quality of available-for-sale debt securities (note 24) that are neither past due nor impaired.
24
annual_report
4724
806
The above table excludes $28.9 million related to the Company’s accrued liability for uncertain tax positions; the Company is unable to reliably estimate the period of cash settlement, if any, with the respective taxing authorities.
35
10K
5098
1,487
Fair Value of Financial Instruments. Our estimates of fair value for financial assets and financial liabilities are based on the framework established in ASC 820 Fair Value Measurements and Disclosures. The framework is based on the inputs used in valuation and gives the highest priority to quoted prices in active mark...
137
10K
fr_axa-AR_2017
2,356
Risk control and risk mitigation 175 4.5 LIQUIDITY RISK 178 4.6 INSURANCE RISKS 179
14
annual_report
3529
941
Personal automobile premiums in the U.S. decreased in 2007 and 2006 due to an increasingly competitive marketplace. The termination of a collector vehicle program also contributed to the decrease in 2007. The overall growth in personal automobile premiums in 2006 was due to selective initiatives outside the United Stat...
147
10K
5881
1,465
Our insurance subsidiaries’ liabilities for guaranty fund and other insurance-related assessments were $1.6 million at December 31, 2020 and 2019. These liabilities included $485,322 and $519,462 related to surcharges collected by our insurance subsidiaries on behalf of regulatory authorities for 2020 and 2019, respect...
44
10K
2003
574
On November 15, 2002, the Company received approval from both FEMA and the SCDOI and then announced that it had completed a transaction with The Hartford Financial Services Group, Inc. ("The Hartford") under which The Hartford acquired the right to renew or assume all of SCIC and Catawba's in-force NFIP business (see T...
56
10K
3641
781
A corporation is entitled to a tax deduction from gross income for a portion of any dividend which was received from a domestic corporation that is subject to income tax. This is referred to as a “dividends received deduction.” In this and in prior years, we have taken this dividends received deduction when filing our ...
327
10K
3142
1,430
For the property and casualty insurance segment, the December 31, 2006 estimate of loss and settlement expense reserves for accident years 2005 and prior decreased $32,255,312 from the estimate at December 31, 2005. This decrease represents 7.9 percent of the December 31, 2005 carried reserves and is primarily attribut...
56
10K
NatixisSA-AR_2016
4,456
for a legal dispute with the counterparty Wallonne du Logement rates. Restated for non-recurring items related to the provision €3,322 million, up 8.6% compared to 2015 at constant exchange In 2016 Corporate & Investment Banking’s net revenues totaled up 11% at constant exchange rates to €3,391 million. in Corporate & ...
70
annual_report
gb_lloyds_banking_grp-AR_2011
1,015
The share of results from joint ventures and associates, which are all non-core, comprised a small profit of £14 million, an improvement of £109 million, due to the non-recurrence of losses and impairments taken in 2010.
36
annual_report
4113
392
The allowance for possible loan losses from financing casualty insurance premiums is a reserve established through a provision for possible loan losses charged to expense which represents, in management’s judgment, the known and inherent credit losses existing in the loan portfolio. The allowance, in the judgment of ma...
61
10K
4972
960
According to tax regulations by PRC tax authorities effective January 1, 2008, commissions paid to sub-agents in excess of 5% of the commission revenue was not tax deductible. According to China State Administration of Taxation #15 Announcement in 2012, effective from 2011, such commissions can be fully deducted. Also,...
60
10K
SwissReAG-AR_1982
402
5 Cape Town, location of one of Swiss-South African Re's branch offices.
12
annual_report
5550
848
The Company reviewed the accounting treatment for three limited partnership investments which were accounted for as available for sale at December 31, 2017 during the 2018 first quarter and determined, based on reconsideration during the period of the Company’s percentage ownership, that the equity method of accounting...
52
10K
5589
1,583
(2)Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income).
42
10K
AvivaPLC-AR_2020
3,973
(e) Structured settlements The Group has purchased annuities from licensed Canadian life insurers to provide for fixed and recurring payments to claimants. As a result of these arrangements, the Group is exposed to credit risk to the extent that any of the life insurers fail to fulfil their obligations. The Group’s max...
148
annual_report
INGGroepNV-AR_2002
1,208
R I S K C L A S S E S I N G B A N K
18
annual_report
5007
845
Nearly all of our unpaid claims liabilities are considered to have a long claims payout tail. Gross loss reserves for our non-life run-off subsidiaries relate primarily to casualty exposures, including latent claims, of which approximately 12.8% (2013: 13.5%) relate to asbestos and environmental, or A&E, exposures.
46
10K