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HiscoxLtd-AR_2017
188
Capital and external environment Hiscox’s capital requirement is driven by a mixture of the level needed to provide the required security to our customers and brokers, the expectations of regulators around the world and political decisions in the countries in which we operate. Over the past two years these factors have...
80
annual_report
4749
546
In addition to the other adjustments indicated in the table below, ENI includes the following adjustments: (i) adjustment to results from real estate to eliminate non-cash items similar to adjusted funds from operations (“AFFO”) which is a non-GAAP financial measure widely used in the real estate industry, (ii) in our ...
86
10K
AvivaPLC-AR_2000
955
The auditors’ remuneration in respect of the parent company was £3,000 (1999: £3,000).
13
annual_report
AvivaPLC-AR_2004
684
The Board has established a number of standing committees, including Remuneration, Audit, and Nomination Committees. Each committee operates within defined terms of reference and the minutes of their meetings are circulated to the Board. Details of the work of the respective committees, including their membership and d...
61
annual_report
4199
1,116
With respect to our insurance operations, we are generally notified of insured losses by our insureds and/or their brokers. Based on this information, our claims personnel estimate our ultimate losses arising from the claim, including the cost of administering the claims settlement process. These estimates reflect the ...
84
10K
SwissReAG-AR_1985
366
The gross premiums ot the Bavarian Reinsurance Com­ pany Limited, Munich, rose in Non-Lite reinsurance from DM 1,390.7 million in the previous yearto DM 1,435.5 mil­ lion. The underwriting loss prior to equalization reserves could be clearly reduced. The absence ot exceptional burdens - especially the previous year's M...
92
annual_report
Sampoplc-AR_2017
181
If has more than 3 million customers. If sells and renews close to 8 million insurances annually and handles 1.5 million claims. If’s success is entirely dependent on how well the company does in all of these customer interactions. Therefore, first class customer focus through dedicated employees with professional insu...
57
annual_report
2732
1,076
During the fourth quarter of 2005, we determined that the outside vendor used to develop our new enterprise system had not met the terms of the development and license agreement and had breached the contract. We have since initiated litigation and are seeking relief to the full extent possible (See “Legal Proceedings” ...
104
10K
fr_axa-AR_2012
625
Japan APE increased by €78 million (+17%) to €598 million driven by higher sales of Variable Annuity products (+37%
19
annual_report
4074
2,862
If the ultimate liabilities equate to the mean actuarial estimate, then the impact from the change in loss reserves would be to increase net income before tax by $247.7 million (being the difference above between the selected loss reserves of $3,331.1 million and the mean value of $3,083.4 million), although the impact...
76
10K
PhoenixGroupHoldingsPLC-AR_2011
1,523
e. On 19 May 2011, UKCPT entered into a £150 million investment term loan facility agreement.
16
annual_report
NatwestGroupPLC-AR_2008
764
Departmental costs rose by £227 million to £665 million, including the full year impact of the acquisition of ABN AMRO.
20
annual_report
PhoenixGroupHoldingsPLC-AR_2019
6
FINANCIALS Independent Auditor’s Report ����������������� 137 IFRS Consolidated Financial Statements ������������������������������� 147 Notes to the Consolidated Financial Statements ������������������������������� 154 Parent Company Financial Statements ���244 Notes to the Parent Company Financial Statements ��������...
49
annual_report
ScorSE-AR_2018
4,759
Based on the calculations performed, such reserve was neither required nor recorded in the financial statements for 2018 or 2017.
20
annual_report
5681
646
The net amount at risk for UL secondary guarantees is defined as the current guaranteed death benefit amount in excess of the current policyholder account balance.
26
10K
HiscoxLtd-AR_2010
116
Their discipline was rewarded by a profitable result despite the many challenges of the year. Our commercial area achieved profits, albeit at lower levels than 2009. The direct business continues to expand with the top line growing by almost 20%. This business achieved a good level of profit in aggregate.
50
annual_report
StandardLifeAberdeenPLC-AR_2020
3,550
Interest rate sensitivity to a reasonable change in the variable within the next calendar year are not material in both 2020 or 2019.
23
annual_report
fr_axa-AR_2012
639
Funds (-49% or €-36 million) as a result of the change in regulation in Poland and (ii) lower unit-linked sales (-29% or €-32 million) mainly in Czech Republic due to the end of the cooperation with low quality brokers and in Poland due to the diffi cult market environment.
49
annual_report
GjensidigeForsikringASA-AR_2015
989
Operating expenses Operating expenses from general insurance (3,217.6) (3,054.0) Operating expenses from pension (222.0) (221.4) Operating expenses from banking operations (359.3) (357.9) Other operating expenses (45.1) (8.7) Amortisation and impairment losses of excess value - intangible assets (209.6) (170.0) Total o...
45
annual_report
473
246
Effective January 1, 1995, the Company adopted Statement of Financial Accounting Standards No. 114, "Accounting by Creditors for Impairment of a Loan," and Statement of Financial Accounting Standards No. 118, "Accounting by Creditors for Impairment of a Loan - Income Recognition and Disclosures," which describe how imp...
99
10K
TrygAS-AR_2016
153
From 2016, the curve used for discounting technical provisions changed due to the implementation of the Solvency II directive, and this might result in slightly more volatile match portfolio net results. The new curve increases the interest rate risk of the technical provisions, thereby introducing a larger difference ...
59
annual_report
GjensidigeForsikringASA-AR_2017
3,326
152 | Gjensidige annual report 2017 fair value of the fixed agreement is recognised in the cost price of the share when the acquired operation is accounted for.
28
annual_report
2991
1,904
The Company sponsors a series of stock accumulation plans established for the benefit of the independent insurance agents and independent sales representatives associated with its independent agent field forces, including UGA - Association Field Services and Cornerstone America. In connection with these plans, the Comp...
112
10K
NatwestGroupPLC-AR_2012
5,005
At 31 December 2012, loans and advances to customers classified as loans and receivables totalled £397,846 million (2011 - £427,805 million; 2010 - £482,710 million) and customer loan impairment provisions amounted to £21,136 million (2011 - £19,760 million; 2010 - £18,055 million).
42
annual_report
3195
969
We have determined that all of these securities do not qualify for other than temporary impairment or permanent impairment status. Our rational includes, but is not limited to, Standard and Poor’s rating of no less than BB++, no delinquent interest and dividend payments, near term maturity dates and our ability and int...
69
10K
GjensidigeForsikringASA-AR_2015
75
Digital solutions are becoming more and more important also in the commercial market, as more and more enterprises now prefer to make changes to their insurance policies themselves online. In 2015, nearly 9,000 commercial customers used our new solution to map industry-specific risks. The solution provides better insig...
68
annual_report
NatixisSA-AR_2014
9,863
General Shareholders’ Meeting called to approve the fi nancial statements for the fi nancial year ended December 31, 2014
19
annual_report
BaloiseHoldingLtd-AR_2001
1,484
The Baloise Group and its subsidiaries are constantly faced with legal disputes, claims and complaints which in most cases stem from normal insurance operations. However, no new facts in this respect have been reported to the Corporate
37
annual_report
3876
2,089
Total premiums for this segment increased $4.7 million or 9% in 2008 compared to a $1.6 million or 3% increase in 2007. Total new premiums increased $4.3 million or 31% in 2008 versus 2007, reflecting a $4.5 million or 55% increase in new immediate annuity premiums. The increase in annuity premiums primarily reflects c...
132
10K
451
211
Insurance Operations. Revenues for the insurance operations segment for 1995 were $309.1 million, compared to $299.1 million for 1994. The improvement was attributable to higher insurance premiums and policy charges of $9.1 million primarily due to a higher amount of educator disability business in force and an increas...
114
10K
5136
1,423
Commercial Paper-The Company maintains an $800 million commercial paper program, supported by a $1.0 billion bank credit agreement that expires on June 7, 2018. (See "Credit Agreement" discussion that follows.) Interest rates on commercial paper issued in 2015 ranged from 0.09% to 0.30%, and in 2014 ranged from 0.08% t...
51
10K
5308
1,286
The tables below summarize unaudited quarterly results of operations for 2016, 2015 and 2014.
14
10K
5505
789
In addition to more reinsurance coverage on NIW having DTIs 45% and greater, effective for March 2018, we increased the credit score required in connection with loans that have a DTI greater than 45%.
34
10K
PosteItalianeSpA-AR_2019
4,674
Interest income (expense) on asset swaps of CFH on securities at FVOCI and CA 4 9
16
annual_report
5700
11,904
There were no significant transfers of derivative or other liabilities into or out of Level 3 for the years ended December 31, 2019 and 2018.
25
10K
5578
1,762
The Company continues to retain a significant portion of its foreign earnings overseas, where they are generally subject to a higher tax rate than that imposed in the U.S. Additional deferred tax liabilities of approximately $135 million for foreign withholding taxes would have been recorded if these earnings were inte...
70
10K
StorebrandASA-AR_2019
1,188
Risk equalisation reserve Up to 50 per cent of the positive risk result for group pensions and paid-up policies can be allocated to the risk equalisation fund to cover any future negative risk result. The risk equalisation reserve is not considered to be a liability according to IFRS and is included as part of the equi...
58
annual_report
3334
1,117
Interest expense for 2007, 2006 and 2005 totaled $1.4 million, $1.4 million and $1.1 million, respectively. As previously disclosed in this Item 7, the interest expense relates to debt service on the $15 million trust preferred notes (the “2003 Notes”). The 2003 Notes bear interest quarterly at the three-month LIBOR ra...
92
10K
1814
934
Under Statement of Financial Accounting Standards No. 87, “Employers’ Accounting for Pensions,” (“SFAS No. 87”) the measurement date shall be as of the date of the financial statements, or if used consistently from year to year, as of a date not more than three months prior to that date. The Company’s measurement date ...
56
10K
5131
1,586
As of April 1, 2015, PartnerRe Asia became the principal reinsurance carrier for the Company’s non-life and life business underwritten in the Asia Pacific region. The establishment of PartnerRe Asia has enabled the Company's Asian reinsurance operations to be consolidated into one regional, well-capitalized entity and ...
55
10K
NatwestGroupPLC-AR_2008
855
Credit market write-downs and one-off items (1,268) — — — — 1,268 — —
14
annual_report
ch_zurich_insurance_group-AR_2018
1,292
Members of the ExCo received other remuneration in 2018 in relation to employee benefits, expatriate allowances, perquisites, benefits-in-kind and any other payments due under each member’s employment contract.
28
annual_report
5911
439
For the year ended December 31, 2019, direct prior years’ reserve development of $562.3 million was principally due to increased ultimate direct losses and LAE for Hurricane Irma, which were fully ceded, while net prior years’ reserve development of $88.1 million was principally due to a change in the allocation of est...
97
10K
GjensidigeForsikringASA-AR_2019
2,006
Non-interest-bearing receivables and liabilities 7.1 56.7 339.6 101.9 Interest-bearing receivables and liabilities 2,401.4 2,513.1 Reinsurance deposits, premiums and claims provision 86.7 1,094.7 1,164.6
23
annual_report
5688
15,953
The aggregate liability balance related to all guarantees was not material as of December 31, 2019.
16
10K
3363
599
(10) Calculated as marketing and advertising expenses for the period (see note (9) above) divided by total revenue for the period (see note (5) above).
25
10K
4355
1,931
Personal lines. On July 1, 2010, we completed the sale of our traditional personal lines business to Tower. The Personal Lines Transaction included two insurance companies through which the majority of the traditional personal lines business was written on a direct basis, two attorneys-in-fact managing the reciprocals ...
190
10K
GjensidigeForsikringASA-AR_2018
2,748
The loans in 2017 for consumer goods are loans without a collateral requirement offered to private customers. The loans in 2017 for auto financing are loans secured by motor vehicles, primarily cars.
32
annual_report
5368
2,155
The NAIC has adopted RBC requirements to evaluate the adequacy of statutory capital and surplus in relation to risks associated with: (i) asset risk; (ii) insurance risk; (iii) interest rate and equity market risk; and (iv) business risk. The RBC formula is designated as an early warning tool for the states to identify...
124
10K
5503
1,868
Under all active shareholder approved plans, a total of 17.3 million shares were authorized to be granted. At December 31, 2017, 11.3 million shares remained available for future issuance under the plans. During 2017, we granted 15,040 shares of common stock to our directors for 2016 board service fees.
49
10K
1108
382
Policyholders' funds left with the Company include reserves for deferred annuity investment contracts and immediate annuities without life contingent payouts. Reserves on such contracts are equal to cumulative deposits less charges and withdrawals plus credited interest thereon (rates range from 3.00% to 8.10% for all ...
92
10K
GjensidigeForsikringASA-AR_2014
451
Pursuant to the Financial Institutions Act Section 2d-3 fourth paragraph, up to a third of the members of the Supervisory Board and the Board of Gjensidige may be employee representatives from the Gjensidige Foundation. In 2011, the Supervisory Board adopted guidelines for its own work. The guidelines are available at ...
52
annual_report
AvivaPLC-AR_2020
2,960
Short-term fluctuations in investment return (see (d) below) (64) 167 Economic assumption changes (see (e) below) (104) (54)
18
annual_report
4082
1,756
approximately 5 years. In the second quarter of 2009, the Company refined this approach to include a full term structure for CDS spreads. Under the refined approach, the CDS spreads assigned to each deal are based on the weighted average life of the deal.
44
10K
3956
1,586
Cash and cash equivalents consisted of checking, repurchase and money market accounts with carrying values of $192,924,291 and $256,964,637 as of December 31, 2009 and 2008, respectively, as follows:
29
10K
CNPAssurancesSA-AR_2010
114
The Chief Executive Officer is responsible for managing day-to-day operations, with the broadest powers to act in the Company’s name in all circumstances. He implements the strategy defined by the Board for the Group, with a constant focus on protecting shareholder value.
42
annual_report
StandardLifeAberdeenPLC-AR_2014
2,926
Total liabilities (7,511) (6,021) (702) (660) (8,728) (8,490) (39) (44) (26) (27) (30) (10) (17,036) (15,252) Net investment hedges 1,107 883 - - (1,085) (870) (22) (13) - - - - - - Cash flow hedges 1,100 (20) 18 20 (1,118) - - - - - - - - - Non designated derivatives 433 404 (427) (402) - (38) (1) - 15 37 (20) (1) - -
67
annual_report
5668
802
Below is an executive summary of our consolidated financial results for the periods indicated. Amounts below are net of taxes, unless otherwise indicated. After-tax amounts assume a tax rate of 21%, except for 2017 which assumed a 35% tax rate.
40
10K
3511
2,204
Evaluation of both the insureds' estimated liabilities and our exposure to the insureds depends heavily on an analysis of the relevant legal issues and litigation environment. This analysis is conducted by our specialized claims adjusting staff and legal counsel. Based on these evaluations, case reserves are
46
10K
LloydsBankingGroupPLC-AR_2020
2,709
O ther inform ation Lloyds Banking Group Annual Report and Accounts 2020 119 2. A SIMPLE PERFORMANCE ASSESSMENT APPROACH WITH CLEAR ALIGNMENT TO REWARD OUTCOMES
25
annual_report
HelvetiaHoldingAG-AR_2008
1,731
Available solvency Capital funds available to cover the required level of solvency.
12
annual_report
5282
1,075
Incurred losses increased by 29.5% to $1,068.5 million in 2016 compared to $825.1 million in 2015, primarily due to an increase of $155.4 million in current year attritional losses, resulting mainly from the impact of the increase in premiums earned and the impact of the new crop reinsurance contract effective upon the...
201
10K
5044
888
On July 14, 2005, KLROC Trust completed its public offering of C$78.0 million through the issuance of 3,120,000 LROC 5% preferred units due June 30, 2015, of which the Company was a promoter. KLROC Trust's net proceeds of the public offering was C$74.1 million.
44
10K
LloydsBankingGroupPLC-AR_2019
1,027
2019 themes Our priorities for risk management have continued to evolve, alongside progression of the Group’s strategy and development of external factors. Our principal risks are outlined over the next few pages but some themes have been particularly prevalent in 2019.
41
annual_report
4520
543
Redeemable Common Shares-The Company’s Class A and Class B redeemable common shares are owned by participating providers, Company directors and employees. Only participating providers in our service area that includes in Ohio and Kentucky are eligible to own Class A voting redeemable common shares (See Note 9). All par...
202
10K
SwissLifeHoldingAG-AR_2006
1,264
Premiums ceded to reinsurers –43 –117 –70 –8 –9 –4 –5 16 –240
13
annual_report
5152
1,321
Results of Operations-Year Ended December 31, 2015 Compared to Year Ended December 31, 2014
14
10K
5648
563
The Company’s fixed income securities and equity securities are classified as available for sale because it will, from time to time, make sales of securities that are not impaired, consistent with our investment goals and policies. At December 31, 2017, the Company had net unrealized gains on fixed income securities of...
86
10K
5495
898
The Dodd-Frank Act provides for an originator or issuer risk retention requirement on securitized mortgage loans that do not meet the definition of a QRM. The QRM regulations align the definition of a QRM loan with that of a QM loan. If, however, the QRM definition is changed (or the QM definition is amended) in a mann...
119
10K
4728
1,465
General and administrative expense. General and administrative expense increased by $37.7 million, or 18.0%, from $208.9 million for the year ended December 31, 2011 to $246.6 million for the year ended December 31, 2012 due to our entry into the P&C Non-Core States, the A&H Startup, the transition to a new operations ...
60
10K
5602
7,753
We are a globally diversified enterprise with income, assets and liabilities denominated in, and capital deployed in, a variety of currencies. Changes in FX rates can affect the valuation of a broad range of balance sheet and income statement items as well as the settlement of cash flows exchanged in specific transacti...
52
10K
ScorSE-AR_2018
4,593
Denis Kessler, Chairman of the Board of Directors and Chief Executive Officer of SCOR SE.
15
annual_report
StorebrandASA-AR_2006
631
The annual general meeting held on 3 May 2006 granted a mandate for the company to buy back up to 10% of its own shares. Storebrand has used this mandate, and at 31 December 2006 the company held 4.5 million of its own shares, equivalent to 1.80% of total share capital.
51
annual_report
769
391
HOLDINGS. Holdings is a holding company whose only material asset is the capital stock of Everest Re. Holdings' cash flow will consist primarily of dividends and other permissible payments from Everest Re. Holdings depends upon such payments for funds for general corporate purposes and for the payment of any dividends ...
54
10K
gb_lloyds_banking_grp-AR_2018
4,021
To the best of our knowledge and belief, we declare that non‑audit services prohibited by the FRC’s Ethical Standard were not provided to the Group or the parent company.
29
annual_report
5113
1,325
The favorable claims experience for 2014 did not result in a significant change in our underlying assumptions or methods used to determine the claim reserves, primarily due to the long-term nature of our group long term disability insurance business and the materiality of other factors, including the potential impact o...
83
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2012
1,081
Commitment to conserving natural resources is an equally important part of our cor­ porate responsibility strategy, given that our economic success is inseparably linked with protecting people and the environment. With this in mind, we are recording our envir onmental data with increasing precision: in 2012, a total of...
76
annual_report
SwissReAG-AR_2009
1,904
Financial statements / Notes to the Group financial statements 10 Earnings per share
13
annual_report
3678
526
We focus our business insurance sales on small to medium sized exposures and offer a broad range of both property and liability coverages such as commercial auto, commercial multi-peril, fire and allied lines, products liability and workers’ compensation. The following table provides a summary of written and earned pre...
100
10K
4098
1,351
The cost of fixed maturity and equity securities is adjusted for the credit loss component of OTTI in the period in which the determination is made. When an OTTI of a fixed maturity security has occurred, the amount of the OTTI recognized in earnings depends on whether the Company intends to sell the security or more l...
231
10K
PowszechnyZakladUbezpieczenSA-AR_2010
834
No. 17/1249/2010, in force since 1 July 2010. The whole document is available at the official website of Giełda Papierów Wartościowych w Warszawie S.A.: www.corp-gov.gpw.pl.
25
annual_report
3180
1,163
130,652 options to purchase shares were exercisable at December 31, 2006. The following table summarizes information concerning outstanding and exercisable options at December 31, 2006.
25
10K
HiscoxLtd-AR_2014
1,184
of its deemed cost, which represents the amount recorded under previous generally accepted accounting principles.
15
annual_report
3688
791
Key economic assumptions used in measuring the other retained interests at the date of securitization resulting from transactions completed included a cumulative foreclosure rate between 1% and 7% during 2007 and 2% and 10% during 2006. The assumed range of the loss severity, as a percentage of defaulted loans, was bet...
93
10K
3884
816
For the years ended June 30, 2008, 2007 and 2006, amortization related to all identifiable intangible assets was $0.1 million, $0.4 million and $0.6 million, respectively. At June 30, 2008, there were no remaining identifiable intangible assets subject to amortization.
40
10K
RaiffeisenBankInternationalAG-AR_2018
216
In the fourth quarter, talks were held with equity and debt investors in Melbourne, Sydney and Singapore as part of a road show in Australia and Asia. RBI also took part in conferences for debt investors in Hong Kong and Taipei. Attendees showed consistently keen interest in the Group’s digitalization strategy. Partici...
73
annual_report
3588
1,487
The following is a summary of weighted-average remaining contractual lives for stock options outstanding and the range of exercise prices on the stock options as of December 31, 2007:
29
10K
927
369
Realized Gains and Losses: The details of realized investment gains (losses) follow:
12
10K
747
353
On January 26, 1996, the Company entered into a lease agreement for new home office space in the City of Calabasas. The Company moved to this location in June 1997. The lease term is for a period of 15 years and covers approximately 63,000 square feet. The Company also has the option to purchase this new home office bu...
85
10K
5048
2,642
For the year ended December 31, 2014 the annualized full surrender rate on variable annuities declined to 13.5% compared to 16.7% for the year ended December 31, 2013. This decline was primarily due to lower surrenders from in-force management initiatives.
40
10K
5855
1,000
•Invest in capital expenditures, primarily related to technology to support innovative solutions for our customers, provide the capital necessary to maintain or improve the financial strength ratings of subsidiaries and to repay debt and fund pension obligations if necessary;
39
10K
StorebrandASA-AR_2009
1,419
Market share (new business) 2 - Occupational pensions (benefit/contribution) excluding transfers 19% 37% 32% 43% Potential for improvement
18
annual_report
3103
4,796
During 2006, the NAIC’s Reinsurance Task Force adopted a proposal suggesting broad changes to the United States reinsurance market, with the stated intent to establish a regulatory system that distinguishes financially strong reinsurers from weak reinsurers, without relying exclusively on their state or country of domi...
143
10K
fr_axa-AR_2013
1,098
(-2%) mainly due to lower new business and ongoing expense control management.
12
annual_report
5337
1,402
In November 2016, we received a $556.3 million settlement payment from CMS primarily relating to catastrophic reinsurance and LICS cost reimbursements for the 2015 Part D plan year, which resulted in a meaningful reduction to our funds receivable for the benefit of members. Growth in our PDP and MA membership and high ...
172
10K
964
267
Common Participating Total ----------- ------------- ----------- Balance (Deficit), December 31, 1995 $ (10,861) $11,528,403 $11,517,542
15
10K
3597
1,525
In 2007, total investment income on equity and realized gains on investments of $46.2 million were $9.2 million greater than the $37.0 million earned in 2006. The 2007 results reflected particularly favorable earnings on an international fund investment which is not anticipated to recur based on the most recent activit...
66
10K
1011
572
Closed Block revenues and benefits and expenses increased in 1997 compared to 1996 primarily due to the formation of the Closed Block in June 1996, thereby reflecting twelve months of activity in 1997 compared to six months of activity in 1996.
41
10K
5924
4,255
EFG Bank AG, Cayman Branch, et al. v. The Lincoln National Life Insurance Company, pending in the U.S. District Court for the Eastern District of Pennsylvania, No. 2:17-cv-02592, is a civil action filed on February 1, 2017. Plaintiffs own Legend Series universal life insurance policies originally issued by Jefferson-Pi...
78
10K
AdmiralGroupPLC-AR_2004
752
5. Profit on ordinary activities before taxation Profit on ordinary activities before taxation is stated after charging the following items: In 2004, fees of £827,000 were paid to the Group’s auditor in respect of professional services relating to the listing, which have been debited against the share premium account.
49
annual_report