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4065
934
Based upon the qualitative analysis performed, the Company's decision to hold these securities, the Company's current level of liquidity and its positive operating cash flows, management believes it is more likely than not that it will not be required to sell any of its securities before the anticipated recovery in the...
58
10K
AvivaPLC-AR_2020
4,248
A number of the business units use passive assumptions to calculate their long-term business liabilities. Consequently, a change in the underlying assumptions may not have any impact on the liabilities, whereas assets held at market value in the statement of financial position will be affected. In these circumstances, ...
89
annual_report
3568
1,437
In order to better align financial reporting with the manner in which AIG’s chief operating decision makers manage their businesses, commencing in 2007, revenues and operating income related to foreign investment-type contracts, which were historically reported as a component of the Asset Management segment, are now re...
68
10K
5251
3,009
Included in these amounts is the impact of Shadow Adjustments on future policy benefit reserves. As of December 31, 2015, $274.4 million was recorded. During the year ended December 31, 2016, additional net impacts of $(62.3) million were recorded, resulting in a total cumulative net impact of Shadow Adjustments on fut...
61
10K
3767
1,275
Consolidated Statements of Cash Flows for the Years Ended December 31, 2008 and 2007
14
10K
4523
1,010
(a) Comparability between 2010 and 2009 data is affected by the deconsolidation of AIA in the fourth quarter of 2010. Book value per share, excluding Accumulated other comprehensive income (loss) is a non-GAAP measure. See
35
10K
3967
939
Net Income Per Share-Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding for the period (excluding shares subject to repurchase). Diluted net income per share is computed by dividing the net income for the period by the weighted average number of com...
91
10K
4370
4,357
The following table presents information about AIG's plan assets based on the level within the fair value hierarchy in which the fair value measurement falls:
25
10K
fr_axa-AR_2014
2,782
Mr. Ramon de Oliveira is the Managing Director of the consulting fi rm Investment Audit Practice, LLC, based in New York.
21
annual_report
3382
766
Certain of the Company’s fixed maturities are classified as trading and others as available-for-sale. The changes in fair value of trading securities are recorded as a component of net investment income. The changes in fair value of available-for-sale securities are recorded in other comprehensive income. The fair valu...
82
10K
fr_axa-AR_2000
650
The nature and level of competition vary among the countries in which AXA operates. There is strong competition among companies for all the types of life insurance (including savings-oriented products and annuities)
32
annual_report
5277
1,697
As of December 31, 2016 and 2015, other investments reported at fair value represented approximately 6% and 5%, respectively, of the total investment portfolio and consisted of the following:
29
10K
INGGroepNV-AR_2015
683
The table demonstrates our inclusive approach to sustainability throughout our entire global lending portfolio. On the one hand, we finance projects in specific sustainable areas, including renewable energy, sustainable real estate, low carbon transport, water and waste management. At the same time, through our client ...
95
annual_report
AegonNV-AR_2012
5,024
For equity volatility, Aegon uses a term structure assumption with market-based implied volatility inputs for the first five years and a long-term forward rate assumption of 25% thereafter. The volume of observable option trading from which volatilities are derived generally declines as the contracts’ term increases, t...
81
annual_report
5242
1,330
Reclassifications out of accumulated other comprehensive income attributable to Alleghany stockholders during 2016 and 2015 were as follows:
18
10K
4408
1,418
matching investment durations to those estimated for the related insurance and contractholder liabilities; and
14
10K
ch_zurich_insurance_group-AR_2007
2,684
Credit risk concentration The Group routinely monitors and limits credit exposures by individual counterparty and related counterparties by the aggregated exposure across the various types of credit risk. The Group’s exposure from counterparties’ parents companies and subsidiaries across such sources of credit risk as ...
137
annual_report
2825
2,539
The following table provides the cumulative net unrealized gains (pre-tax) on the Company’s fixed maturity securities and equity securities as of the dates indicated. Effective December 31, 2004, our investments were recorded at fair value, thereby eliminating all unrealized gains and losses, as part of the application...
52
10K
TrygAS-AR_2019
1,043
Sensitivity Tryg’s property valuations are based on the market-based rental income and operating expenses of the individual property relative to the required rate of return. The most important factors impacting the valuations are the applied rates of return, annual net rental income and occupancy rates. The average rat...
54
annual_report
4417
555
The $26.5 million reserve increase during 2009 primarily reflects a significant acceleration in claims emergence and higher than anticipated increases in industry-wide severity, as well as the estimated impact of judicial decisions by the Workers’ Compensation Appeals Board. Such decisions related to permanent disabili...
95
10K
StandardLifeAberdeenPLC-AR_2018
2,178
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further rem oved noncompliance with laws...
127
annual_report
nl_ing_grp-AR_2012
1,582
The use of different assumptions about these factors could have a material effect on insurance provisions and underwriting expenditure. Changes in assumptions may lead to changes in the insurance provisions over time. Furthermore, some of these assumptions can be volatile.
40
annual_report
3138
807
An additional workers compensation catastrophe excess of loss program provided an additional $5,000,000 in 2006, 2005 and 2004 of coverage to cover a catastrophic event.
25
10K
1270
274
Net investment income decreased 6% in 1999, increased 36% and 416% in 1998 and 1997, respectively. The decrease in 1999 was the result of $1,036,000 of amortization of the premium paid on a derivative instrument purchased during 1999. As noted in Note 2C of Notes to Consolidated Financial Statements, the derivative ins...
129
10K
NatwestGroupPLC-AR_2014
4,462
Complementary to its deposit funding, RBS maintains access to various wholesale markets for funding, on both a public and private basis, across a range of currencies, geographies and maturities. These include longterm secured and unsecured debt, short-term money markets and repurchase agreements. RBS has set policies f...
60
annual_report
4230
2,216
Includes $320 million of gross unrealized gains and $68 million of gross unrealized losses as of December 31, 2010, compared to $211 million of gross unrealized gains and $133 million of gross unrealized losses as of December 31, 2009 on securities classified as held to maturity.
46
10K
2143
1,187
During 2002, the FASB Emerging Issues Task Force reached a consensus on Issue No. 00-21, “Revenue Arrangements with Multiple Deliverables” (“EITF 00-21”). EITF 00-21 provides an accounting model for an approach to determine whether a vendor should divide an arrangement with multiple deliverables into separate units of ...
158
10K
1948
699
Interest expense increased by $2,384,000 or 69% to $5,826,000 for the year ended December 31, 2001 as compared to the year ended December 31, 2000, primarily due to the acquisition of the employer cost containment and health services segment. Without taking into consideration the acquisition of this segment, interest e...
92
10K
2290
612
As a result of ACL's continued losses and DHC management's belief that it may recover little, if any, of its investment in ACL, DHC wrote off its remaining investment in ACL during the first quarter of 2003. The equity in net loss of unconsolidated Marine Services subsidiaries included a loss from ACL of $47.0 million,...
104
10K
AvivaPLC-AR_2017
423
Health market. We offer a market leading range of propositions to individual and corporate customers covering their savings, retirement, insurance and health needs. We also have one of the largest legacy books in the UK life and pensions market.
39
annual_report
5487
692
Reserves for Losses and Loss Adjustment Expenses. We establish reserves for the estimated total unpaid costs of losses including loss adjustment expenses (LAE). Loss and LAE reserves reflect management’s best estimate of the total cost of (i) claims that have been incurred,
42
10K
AegonNV-AR_2006
3,811
Equitable plc. The scheme is closed to new entrants. Under IAS 19, the defi ned benefi t plan has a defi cit of EUR 234 million at
27
annual_report
3030
1,135
Under the LTIP for the 2005-2007 performance period, the Committee granted Performance Share awards only to plan participants and no awards of SARs or RSUs were made. The total number of Performance Share awards outstanding under the LTIP related to this performance period at December 31, 2006 was 400,000 (or up to 800...
114
10K
TrygAS-AR_2007
1,211
Total return on investment activities 1,740 2,259 3 Interest on insurance provisions -1,400 -1,031
14
annual_report
TrygAS-AR_2010
650
The former credit facility which is included as part of Tryg’s cash resources expired in 2010. To replace this facility, a new senior credit facility in a total amount of DKK 2bn was raised. The new facility has a term to maturity of 12 months, and the utilisation ratio was 0 at 31 December 2010.
55
annual_report
SwissReAG-AR_2014
1,585
Group Chief Strategy Officer, Chairman Admin Re® Born: 1960 Nationality: American
11
annual_report
TrygAS-AR_2008
1,711
Derivative financial instruments and hedge accounting The group’s activities expose it to financial risks, including changes in share prices, foreign currency exchange rates, interest rates and inflation. Forward exchange contracts and currency swaps are used for currency hedging of portfolios of shares, bonds, hedging...
97
annual_report
5808
1,042
The following table summarizes the activity for awards granted by the Company under the MIU Plan:
16
10K
3663
885
Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without penalties. Our amortized cost and estimated fair value of trading securities at December 31, 2008 by contractual maturity are as follows (in thousands):
45
10K
1750
288
Premiums and policy fees: Life insurance $ 530,728 $ 368,139 $ 130,368 $ 292,957 44.5% Accident/health insurance 153,818 93,657 11,893 72,054 16.5% Property and liability insurance 34,109 501 111 33,719 0.3% ------------ ------------ ----------- ----------- TOTAL $ 718,655 $ 462,297 $ 142,372 $ 398,730 ============ ===...
48
10K
2134
3,228
Board of Directors. At the annual meeting of shareholders held on June 5, 2003, the Company’s shareholders
17
10K
3912
1,359
Net Investment Income. Net investment income attributable to our financial guaranty business was $107.7 million for 2007, compared to $95.9 million for 2006. The 2007 amount reflects an increase in investable assets and higher yields.
35
10K
4313
897
The Company calculates net income per share in accordance with ASC Topic 260, “Earnings per Share.” Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share reflects the potential dilution of securities by...
79
10K
5518
3,245
During the year ended December 31, 2016, Brighthouse Life Insurance Company and NELICO paid dividends totaling $556 million to MetLife, Inc. or one of its subsidiaries, resulting in a decrease in shareholder’s net investment.
34
10K
767
391
At December 31, 1997, PXRE was a party to three such retrocessional arrangements. One such arrangement is with a group of insurers and reinsurers referred to as the AMA; another is with Trenwick Group; and a third arrangement is with Select Re. Under these arrangements, PXRE cedes some of its underwritten risks to the ...
137
10K
5130
1,268
A long-term perspective governs our liquidity and capital resources decisions, with the goal of benefiting our policyholders, agents, shareholders and associates over time. Our 2015 insurance results were better than our longer-term combined ratio objective of averaging within the range of 95 percent to 100 percent ove...
54
10K
ScorSE-AR_2014
183
Banks providing such facilities usually ask SCOR to post collateral. Its value retained by the bank, which can be different from the market value since it includes haircuts, is at maximum equal to the amount of the LOC facility. In the case of a LOC being drawn by a cedent, the bank has the right to request a cash paym...
120
annual_report
5256
2,601
The Company has extended loans to certain subsidiaries of MetLife, Inc. Additionally, in the ordinary course of business, the Company transfers invested assets, primarily consisting of fixed maturity securities, to and from MetLife affiliates. See Note 8 for further discussion of the related party investment transactio...
46
10K
75
398
The Company has entered into various operating and capital lease agreements for office space and data processing and certain other equipment. Rental expense under operating leases was $99 million, $113 million and $122 million in 1994, 1993 and 1992, respectively. Future net minimum rental and lease payments are estima...
51
10K
2155
714
The costs of acquiring business, principally commissions, certain expenses related to policy issuance, and certain variable sales expenses that relate to and vary with the production of new and renewal business, are deferred and amortized in accordance with Statement of Financial Accounting Standards No. 97, Accounting...
121
10K
AegonNV-AR_2019
2,413
Policy approval, these rules require that a retention bonus:  Is necessary in the context of a structural organization change such as a merger, divestiture, a take-over or a major organizational internal restructuring, and;  Solely serves to retain the Executive; and  Together with the allocated Variable Compensatio...
62
annual_report
4689
1,104
The table below shows premiums and fees for the Global Health Care segment:
13
10K
HiscoxLtd-AR_2012
451
Robert Hiscox joined Hiscox in 1965 and has been Chairman of the main holding company of Hiscox since its incorporation in 1973. He was Deputy Chairman of Lloyd’s between 1993 and 1995.
32
annual_report
AssicurazioniGeneraliSpA-AR_2015
233
Live the community We are proud to belong to a global group with strong, sustainable and long lasting relationships in every market in which we operate. We feel at home in every market.
33
annual_report
4191
1,540
Our International segment decreased $77 million from an $82 million decrease in our lifestyle protection insurance business that was partially offset by a $5 million increase in our international mortgage insurance business. The year ended December 31, 2009 included a decrease of $27 million attributable to changes in ...
51
10K
INGGroepNV-AR_2005
1,420
Annual contributions are paid to the funds at a rate necessary to adequately finance the accrued liabilities of the plans calculated in accordance with local legal requirements. Plans in all countries comply with applicable local regulations concerning investments and funding levels.
41
annual_report
2583
663
Collected premiums on Medicare supplement policies in the Conseco Insurance Group segment were $351.7 million in 2004; $134.2 million in the four months ended December 31, 2003; $250.4 million in the eight months ended August 31, 2003; and $369.9 million in 2002. New Medicare supplement sales have been affected by incr...
63
10K
4765
1,002
Net income for the Company's insurance subsidiaries prepared in accordance with SAP for the years ended December 31, 2013, 2012 and 2011 was $19.3 million, $13.5 million and $13.8 million, respectively.
31
10K
gb_prudential-AR_2001
920
14. Net Operating Expenses Long-term business General business technical account technical account £m £m £m £m
16
annual_report
nl_ing_grp-AR_2014
788
Financial Markets Financial Markets (FM) is a well-diversified business exposed to developed markets and fast-growing economies and focused on rates and currencies more than credit. FM is a client-driven business franchise. It aims to service ING’s institutional, corporate and retail clients with relevant financial mar...
46
annual_report
AssicurazioniGeneraliSpA-AR_2019
4,727
BG Valeur S.A. 071 CHF 300,000 G 11 90.10 Banca Generali S.p.A. 90.10 45.66
14
annual_report
PosteItalianeSpA-AR_2020
5,552
Details of changes in technical provisions for the insurance business and other claim expenses are provided in the notes to the consolidated statement of profit or loss.
27
annual_report
fr_axa-AR_2016
6,781
Generally fair values of investments in real estate properties cannot be determined via reference to quotes of an active market from an exchange market or service provider and no property is therefore categorized in level 1. However, AXA’s investments in real estate properties are mostly physically located within liqui...
162
annual_report
NatixisSA-AR_2017
8,717
Such transactions include external growth financing deals not associated with a physical investment program, general-purpose corporate financing, portfolios of assets that are too large for a dedicated assessment, or certain kinds of assets.
33
annual_report
NatwestGroupPLC-AR_2018
1,535
Under the US Sarbanes-Oxley Act of 2002, specific standards of corporate governance and business and financial disclosures and controls apply to companies with securities registered in the US. RBS complies with all applicable sections of the US Sarbanes-Oxley Act of 2002, subject to a number of exceptions available to ...
52
annual_report
ScorSE-AR_2020
1,123
The Committee’s mission is to examine the Group’s development strategy, including investments in organic growth and major internal restructuring operations, plus any significant operation falling outside of the strategy announced by the Group and to examine any acquisition, merger, asset contribution or disposal of an ...
52
annual_report
3378
853
The consolidated financial statements of RAM Holdings Ltd. were prepared by management, who are responsible for their reliability and objectivity. The statements have been prepared in conformity with accounting principles generally accepted in the United States of America and, as such, include amounts based on informed...
67
10K
1341
253
The Company reported a net loss of $12.3 million for the year ended December 31, 1999 which included a $3.0 million charge for loss contracts related to the Carolinas commercial line of business, a $5.5 million charge for management settlement costs and $4.1 million of other income from a litigation settlement, compare...
124
10K
gb_prudential-AR_2006
826
volumes of £143 million were 70 per cent of those achieved in 2005. This reflected the selective participation strategy undertaken by Prudential UK to ensure margins and profitability were maintained in a period when the market experienced increased competition.
39
annual_report
4122
2,856
Casualty earned premiums decreased by $30, primarily due to lower audit premiums and a decrease in insured exposures driven by the downturn in the economy.
25
10K
AvivaPLC-AR_2005
1,079
Reversals of impairments are only recognised where the decrease in the impairment can be objectively related to an event occurring after the write down (such as an improvement in the debtor’s credit rating), and are not recognised in respect of equity instruments.
42
annual_report
2008
355
FASB Interpretation 45 "Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others" became effective December 15, 2002. This interpretation elaborates on the disclosures to be made by a guarantor in its financial statements about its obligations under cert...
64
10K
2601
997
• During 2004, net realized investment loss represents the loss on the sale of Medical Care & Outcomes, LLC.
19
10K
AdmiralGroupPLC-AR_2009
738
The Chairmen of the Audit, Remuneration, and Nomination Committees attend the Company’s Annual General Meeting along with the other Directors, and are available to answer shareholders’ questions on the activities of the committees they chair.
35
annual_report
StandardLifeAberdeenPLC-AR_2015
735
Melanie is also a non-executive director of The Weir Group PLC where she chairs the remuneration committee and is a member of the audit and nomination committees. She is a non-executive director of Drax Group plc, where she serves as a member of the audit, nominations and remuneration committees. Melanie was appointed ...
95
annual_report
4739
1,175
In addition, certain bonds with a carrying value of $26.5 million were on deposit with various state and regulatory agencies to comply with insurance laws. We retain all rights regarding these securities, which are primarily included in the "U.S. government and government agencies" classification of our AFS fixed matur...
51
10K
AvivaPLC-AR_2013
1,138
Euan joined Aviva in January 2014 and is Chief Executive Officer, Aviva Investors with responsibility for capitalising on Aviva Investors expertise in managing Aviva’s own funds, becoming a stronger third-party manager and increasing Aviva Investors profit contribution to the Group.
40
annual_report
HiscoxLtd-AR_2007
760
TheGroup assesses its reinsurance assets on a regular basis and if there is objective evidence, after initial recognition, of an impairment in value, theGroup reduces the carrying amount of the reinsurance asset to its recoverable amount and recognises the impairment loss in the income statement.
45
annual_report
606
452
In June 1997, the FASB issued SFAS No. 130, "Reporting Comprehensive Income," which is effective for fiscal years beginning after December 15, 1997. SFAS No. 130 establishes standards for the reporting item, termed comprehensive income, which will combine net income and certain items that directly effect stockholders' ...
82
10K
HelvetiaHoldingAG-AR_2003
371
Patria shares with the permission of the other pool members who are granted a pre-emptive right at market conditions.
19
annual_report
fr_axa-AR_2005
2,042
Underlying cost income ratio improved to 74.2% versus 79.1% in 2004, notably reflecting the strong improvement in fees & revenues.
20
annual_report
StandardLifeAberdeenPLC-AR_2019
1,820
The Group engaged with its employee associations from an early stage in the annual remuneration cycle. The areas discussed include: external market data, economic factors, employee expectations and congruence of executive pay with that of the wider workforce in terms of overall pay budgets and approach. The Group opera...
121
annual_report
5036
1,361
Stock based compensation - The Company records compensation expense upon issuance of share-based payment awards for all awards it grants, modifies or cancels primarily on a straight-line basis over the requisite service period, generally three to four years. The share-based payment awards are valued using the Black-Sch...
105
10K
ScorSE-AR_2013
3,344
Functions. The operating segments are: the SCOR Global P&C segment, with responsibility for our property and casualty
17
annual_report
4703
2,199
Foreign exchange gains for the year ended December 31, 2013 were $2.3 million, or 47.8% lower than for the year ended December 31, 2012. The lower gain was primarily due to the fact that the Company holds non-U.S. dollar currency deposits, most notably in Australian dollars, which weakened significantly against the U.S...
56
10K
gb_lloyds_banking_grp-AR_2018
5,727
Liabilities arising from non‑participating investment contracts – – – – – – 13,853 13,853
14
annual_report
HannoverRueckSE-AR_2012
865
Assessment of the risk situation The above remarks describe the diverse spectrum of risks to which we, as an internationally operating reinsurance company, are exposed as well as the steps taken to manage and monitor them. Individual and especially accumulation risks can potentially have a significant impact on our ass...
226
annual_report
ScorSE-AR_2014
1,383
The Chairman and CEO, under the authority given by the Board of Directors held on 4 March 2014 for the implementation of this plan, allocated on 4 March 2014 120,000 performance shares to 41 Partners of the Company. All the shares made under the LTIP are subject to the satisfaction of the performance conditions. The pe...
175
annual_report
4417
1,042
(2) Of the $860.5 million of fair value as of December 31, 2011, $497.3 million related to RMBS, $144.7 million related to CMBS and $218.5 million related to other asset-backed securities. Of the $866.5 million of fair value as of December 31, 2010, $499.9 million related to RMBS, $173.4 million related to CMBS and $19...
61
10K
TopdanmarkAS-AR_2013
1
Focused strategy y Danish player y Stable insurance risks y Low expense ratio y Limited financial risk y Efficient capital management y Limited top line growth y Profitable growth - in that order y High net result y Large share buy-back programme y No protection against a take-over in the Articles of Association
53
annual_report
3057
637
Surrender charges are also included in fee and other income. Surrender charges represent revenues earned on the early withdrawal of fixed and variable annuity policyholder balances, which generally are assessed at declining rates applied to policyholder surrenders during the first four to seven years of the contract. S...
67
10K
2415
773
Financial Strength Rating Senior Debt Rating Rating Agency of Phoenix Life of PNX --------------------------- --------------------------- --------------------------
16
10K
StorebrandASA-AR_2011
533
Risk result In 2011, the risk result was NOK 289 million, compared with NOK 290 million in the preceding year. The sickness result, which accounts for most of the risk result, is still good. Fewer and shorter disability cases than expected resulted in the capitalisation of reserves, which gave a strong risk result, alb...
58
annual_report
RSAInsuranceGroupPLC-AR_2020
322
Outlook We target continued progress toward our ambition of an earned controllable expense ratio of less than 20% in each of our regions.
23
annual_report
4619
601
The following table contains the sector distribution of the Company’s corporate fixed maturity investment portfolio, calculated as a percentage of fixed maturities at December 31, 2012 and 2011:
28
10K
ch_zurich_insurance_group-AR_2010
2,483
Issued share capital As of December 31, 2008 14,212,262 142,122,620 0.10 New shares issued from authorized capital in 2009 480,000 4,800,000 0.10 New shares issued from contingent capital in 2009 55,045 550,448 0.10
33
annual_report
1435
332
2. Basis of financial statements, continued ---------------------------------------- The Risk-Based Capital ("RBC") for Life and/or Health Insurers Model Act (the "Model Act") was adopted by the National Association of Insurance Commissioners (NAIC) in 1992. The main purpose of the Model Act is to provide a tool for in...
72
10K
4469
963
Our net income was $610.8 million and $807.0 million in 2010 and 2009, respectively. The decrease was primarily driven by a few large catastrophe losses in 2010 compared to no similar catastrophe events in 2009, partially offset by an increase in net realized capital gains and a reduction in income taxes.
51
10K
3249
1,390
Gross and net premiums written decreased by 2.3% and 3.4%, respectively, in the year ended December 31, 2005 compared with the year ended December 31, 2004. These decreases were also primarily due to competitive pricing across most lines, most notably property. Decreases were partially offset by continued growth in the...
96
10K
2409
1,057
The Company actively monitors and evaluates the financial condition of its reinsurers and prepares estimates of the uncollectible amounts due from reinsurers. Such estimates are made based on periodic evaluation of balances due from reinsurers, judgments regarding reinsurers’ solvency, known disputes, reporting charact...
126
10K