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PhoenixGroupHoldingsPLC-AR_2019
3,017
E2.3 Level 3 Financial instrument sensitivities Level 3 investments in equities (including private equity and unlisted property investment vehicles) and collective investment schemes (including hedge funds) are valued using net asset statements provided by independent third parties, and therefore no sensitivity analysi...
45
annual_report
INGGroepNV-AR_2020
1,403
Data ethics is key for an enhanced and sustainable trusted relationship with ING customers and society. Our vision is to integrate data ethics as part of our culture, behaviours and decision-making process. We have defined values that should guide our employees’ behaviours. Furthermore, we have set up data ethics counc...
57
annual_report
ScorSE-AR_2010
768
Environmental issues that may affect the utilisation of properties, plants and equipment
12
annual_report
4404
1,753
Management fee revenue is earned by Indemnity from services relating to the sales, underwriting and issuance of policies on behalf of the Exchange as a result of its attorney-in-fact relationship, and is eliminated upon consolidation. A summary of the results of our management operations is as follows:
47
10K
ch_zurich_insurance_group-AR_2011
1,055
Due to its strong balance sheet, Zurich is able to structure and align its reinsurance programs to achieve an optimum risk/reward ratio. Zurich has managed its central reinsurance purchasing according to these principles for General Insurance since 2003 and for Global Life since 2008. The Group is therefore able to man...
68
annual_report
2048
1,476
Amounts previously reported have been revised to reflect the presentation of CNA Vida as a discontinued operation. See Note P for further discussion.
23
10K
NatixisSA-AR_2007
8,608
The concrete implications of these changes involved: reorganizing the tasks assigned to Controls: the Department was eliminated as such and its teams redeployed between the Risk, Compliance and Internal Audit Departments; extending Compliance’s remit to include ensuring procedures are effectively applied.
41
annual_report
4090
924
In June 2009, the FASB issued guidance amending existing guidance surrounding the consolidation of variable interest entities to require an enterprise to qualitatively assess the determination of the primary beneficiary of a variable interest entity (“VIE”) based on whether the entity (1) has the power to direct the ac...
201
10K
5825
637
The GSEs (and other investors) have also used other forms of credit enhancement that did not involve traditional private mortgage insurance, such as engaging in credit-linked note transactions executed in the capital markets, or using other forms of debt issuances or securitizations that transfer credit risk directly t...
79
10K
AvivaPLC-AR_2006
2,554
The Group has unrecognised tax losses of £1,746 million (2005: £1,035 million) to carry forward against future taxable income of the necessary category in the companies concerned. These tax losses will expire as follows: £26 million 0-10 years and £26 million 11-20 years (2005: £40 million within 0-10 years and £35 mil...
119
annual_report
TopdanmarkAS-AR_2009
497
Announcement No. 02/2010 from Topdanmark A/S Page 37 of 108 business sector to review developments in their portfolios, the results of the past period and the forecast for the year.
30
annual_report
2171
405
At December 31, 2003, we maintained a $3.6 million valuation allowance against deferred tax assets. This allowance was originally established at December 31, 2001 at $14.5 million, and was decreased by $7.9 million in 2002 and $3.0 million in 2003. The $3.0 million and $7.9 million decreases in the valuation allowance ...
68
10K
ch_zurich_insurance_group-AR_2017
2,244
d) Deferred taxes Deferred tax assets are recognized if sufficient future taxable income, including income from the reversal of existing taxable temporary differences and available tax planning strategies, is available for realization. The utilization of deferred tax assets arising from temporary differences between th...
180
annual_report
RaiffeisenBankInternationalAG-AR_2016
2,547
The Group controls the following types of entities, even though it holds less than half of the voting rights.
19
annual_report
GjensidigeForsikringASA-AR_2015
1,622
Market risk Market risk is the risk of losses associated with movements in market prices, which, in this context, concerns positions and activities in the interest, currency and stock markets.
30
annual_report
HannoverRueckSE-AR_2011
942
able in the year under review. The risk associated with the persistency of the business in force was similarly inconspicu­
20
annual_report
1416
570
Triad's revenues also continue to be affected by the trend toward certain services being performed more frequently on an outpatient basis. Growth in outpatient services is expected to continue in the health care industry as procedures performed on an inpatient basis are converted to outpatient procedures through contin...
110
10K
fr_axa-AR_2018
6,387
Headcount (number of persons) as of December 31 2018 Evolution 2017
11
annual_report
PosteItalianeSpA-AR_2017
1,891
On 7 August 2015, the MEF committed “the Ministry to complete all the procedures necessary in order to pay the amounts due in accordance with procedures and timing consistent with the current privatisation process (…), including provision of the necessary funding” and sent the Parent Company a letter signed by the Dire...
69
annual_report
5153
3,925
The valuation methodologies utilized are subject to key judgments and assumptions that are sensitive to change. Estimates of fair value are inherently uncertain and represent only management’s reasonable expectation regarding future developments. These estimates and the judgments and assumptions upon which the estimate...
89
10K
2776
984
Acquisition costs consist principally of brokerage expenses and commissions which are driven by contract terms on the reinsurance and insurance contracts we write, and are normally a set percentage of premiums. Under certain contracts we may also pay profit commission to cedants which will vary depending on the loss ex...
53
10K
4544
4,641
Property and equipment are stated at cost and depreciated over estimated useful lives using the straight-line method. The home office is depreciated over 25 to 50 years and furniture and equipment is depreciated over 3 to 10 years. The table below provides information at December 31.
46
10K
258
427
During fiscal year 1996, the Company expects capital expenditures to approximate $67.8 million, primarily consisting of $47.7 million for the purchase of computer hardware and software systems; $15.3 million for the purchase of furniture and equipment primarily for the health care centers and the hospitals; and $4.8 mi...
113
10K
5503
1,825
The 2017 amount recognized in net periodic benefit cost and other comprehensive income remained unchanged from 2016. The 2016 change in the amount recognized in other comprehensive income from 2015 is largely due to better-than-expected investment return partially offset with decreases in discount and assumed lump sum ...
69
10K
5797
1,961
(3) Revolving credit agreement borrowings include borrowings from our custodian bank to purchase securities, which is payable on demand. Therefore, we have assumed that these payments will be made within one year, but payment may occur over a longer period of time.
42
10K
NatixisSA-AR_2018
7,504
New originated or acquired contracts 2,965 (6) 2,589 (15) 0 0 0 0 5,554 (21)
15
annual_report
AvivaPLC-AR_2017
1,423
Group’s IT estate, its resilience, and its ability to support the Group’s strategy and keep customer data safe. During the year the
22
annual_report
fr_axa-AR_2012
8,660
Resources development at AXA and instill a strong sense of belonging to a global company. More in detail, initiatives (1)
20
annual_report
2556
674
The Company’s long-term debt obligations consist of $300 million, 7.5% Senior Notes due in October 2005 and $200 million, 6% Senior Notes due in 2007, as discussed in Note 5, “Short- and long-term debt” to the Company’s consolidated financial statements and under “Liquidity and Capital Resources” above. The Company’s o...
91
10K
HiscoxLtd-AR_2017
894
Remuneration policy Hiscox has a forward-looking remuneration policy for its Board members. The policy was last approved at the 2017 AGM and is replicated below. For clarity we have updated the content to reference how arrangements will be implemented in the coming year; these are shown in italics. The original policy ...
63
annual_report
ASRNederlandNV-AR_2013
1,102
Where relevant, credit ratings provided by the external rating agencies are used to determine risk budgets and monitor limits. A limited number of bond investments do not have an external rating. These investments are generally assigned an internal rating. Internal ratings are based on methodologies and rating classifi...
55
annual_report
RaiffeisenBankInternationalAG-AR_2020
3,200
Raiffeisen Bank International | Annual Report 2020 ware asset may be impaired, then the asset's recoverable amount is calculated. In 2020 impairment losses of € 4,793 thousand were booked for software recognized in Hungary.
34
annual_report
SwissLifeHoldingAG-AR_2014
121
In 2015, the main focus in all business areas will lie on continued business development and increasing fee and commission income.
21
annual_report
1980
8,640
The following financial data has been summarized from, and should be read in conjunction with, the Company's Consolidated Financial Statements and "Management's Discussion and Analysis of Financial Condition and Results of Operations." The data reflects the acquisitions of MNL in June 2002 and UTA in October 1999, and ...
65
10K
5845
927
Westminster remains headquartered in Owings Mills, Maryland, and continues to be led by its president and other key management in place at the time of the acquisition. The results of Westminster are included as part of the Company’s commercial business segment following the closing date.
45
10K
NatixisSA-AR_2014
6,393
Net gains or losses on available-for-sale fi nancial assets 369 340
11
annual_report
fr_axa-AR_2017
4,343
Undated subordinated debt oft en contains the following features: ■ early redemption clauses (calls) at the Group’s option, giving AXA the ability to redeem on certain dates the principal amount before settlement and without penalty, and; ■ interest rate step-up clauses with eff ect from a given date.
48
annual_report
AvivaPLC-AR_2010
3,091
Claims payments made in the year, net of recoveries (7,173) (7,438) Unwind of discounting 64 41 Other movements in the claims provisions (18) —
24
annual_report
gb_lloyds_banking_grp-AR_2018
5,424
Packaged bank accounts The Group has provided a further £45 million in the year ended 31 December 2018 (£245 million was provided in the year ended 31 December 2017) in respect of complaints relating to alleged mis‑selling of packaged bank accounts, raising the total amount provided to £795 million. A number of risks a...
62
annual_report
5699
510
Basic earnings per share was computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share reflected the effect of potentially dilutive securities.
40
10K
3784
856
Certain of PMI Europe’s credit default swap contracts and reinsurance agreements contain collateral support provisions which, upon certain circumstances, such as a downgrade of PMI Europe’s insurer financial strength ratings and/or deterioration of underlying mortgage loan performance, require PMI Europe to post collat...
126
10K
4111
816
In the fourth quarter of 2009, this segment wrote-off $5.1 million of previously capitalized software. The Company had been working with a software developer on this project for a number of years in order to improve the Company’s administrative efficiency as it sought in prior years to quickly expand its premiums under...
142
10K
5121
565
In September 2014, we entered into a stock option agreement (the Agreement) with a new management employee (the Employee) granting the Employee the right to purchase up to 318,000 of the Company’s common stock at an exercise price of $12.50. The grant of such rights to purchase the Company’s common stock was treated as...
175
10K
2526
1,105
reflects the Company strategy of avoiding the unpredictability of interest rate risk in favor of relying on the Company's bond analysts' ability to better predict credit or default risk. The bond analysts operate in an industry-based, team-oriented structure that permits the evaluation of a wide range of below investme...
63
10K
5026
1,608
Trust assets related to our captive arrangements are required to be invested in investment grade securities. As of December 31, 2014, the trust assets for these trust accounts consisted primarily of cash equivalents, money market investments and investment grade securities.
40
10K
NatixisSA-AR_2003
3,980
Partnerships reinforced As part of the continued partnership with IMI Bank, CDC IXIS Capital Markets acted as one of the underwriters for Fiat’s €1.8 billion capital increase in June 2003.
30
annual_report
de_allianz-AR_2011
679
in L I F E / h E A L T h business, Allianz Austria offers traditional insurance contracts, government subsidized products as well as unit-linked and investment-oriented products. premium volume in the Austrian life market decreased by 7.6 % in 2011 driven by substantially lower production of single premium business in ...
93
annual_report
SwissLifeHoldingAG-AR_2007
2,450
Financial assets at fair value through profit or loss 4 030 – 2 551 – – – 6 581 –
20
annual_report
5758
603
During 2019 and 2018, we concluded that the goodwill related to each of our reporting units was not impaired after performing our quantitative impairment analysis. Refer to Notes 1-L and 8 to our audited consolidated financial statements for details on goodwill.
41
10K
gb_prudential-AR_2008
2,602
CDO funds* 320 260 *Including Group’s economic interest in Piedmont and other consolidated CDO portfolios.
15
annual_report
LloydsBankingGroupPLC-AR_2011
2,881
– Helen Weir: Group Executive Director, Retail who stepped down at the Company’s general meeting on 18 May 2011.
19
annual_report
1709
710
Revenues from external customers $ 27,357 $ 20,386 $ 19,623 Net investment income 6,142 6,401 6,190 Depreciation and amortization 748 656 651 Segment profit before taxes 3,039 5,850 4,121 Segment assets 161,318 145,732 141,095 Segment liabilities 118,186 105,083 105,941 Expenditures for segment assets 400 727 383
46
10K
de_allianz-AR_2015
691
Trusted company Our customers’ needs and how we meet them are central to our ambition to keep being part of the strongest financial community, and to our aim of being the most trusted partner within our core business of insurance and investments. As part of this, our customers rightly expect that their personal informa...
60
annual_report
AvivaPLC-AR_2017
4,475
As noted above, the long-term investment objectives of the trustees and the employers are to limit the risk of the assets failing to meet the liabilities of the schemes over the long-term, and to maximise returns consistent with an acceptable level of risk so as to control the longterm costs of these schemes. To meet t...
118
annual_report
4723
233
The accompanying financial statements have been prepared assuming that the entity will continue as a going concern. As discussed in Note 2 to the financial statements, the Company’s lack of cash, losses, negative working capital, and shareholders’ deficit raise substantial doubt about its ability to continue as a going...
80
10K
SwissReAG-AR_2019
352
The Group reported non-participating net realised investment gains of USD 1.6 billion in 2019, compared with USD 0.1 billion in 2018, as the current year benefited from significant market value gains within the equity portfolio, as well as additional gains from sales within the fixed income portfolio.
47
annual_report
StandardLifeAberdeenPLC-AR_2020
891
Director induction and development The Chairman, supported by the Company Secretary, is responsible for arranging a comprehensive preparation and induction programme for all new Directors. The programme takes their background knowledge and experience into account. If relevant, Directors are required to complete the FCA...
80
annual_report
5803
1,704
Consolidated Statements of Stockholders’ Equity (Years ended December 31, 2019 and 2018)
12
10K
3160
1,084
Claims frequency decreased significantly in 2006 compared to 2005. In 2006, we incurred 6,500 claims compared to over 15,800 claims in 2005. Claims frequency in 2005 was higher due to 8,450, 1,600 and 500 claims from Hurricanes Katrina, Rita and Dennis. Non-hurricane related claims in 2005 totaled 5,250. The increase i...
107
10K
HannoverRueckSE-AR_2007
892
Cash and cash equivalents at the end of the period 335,422 351,776
12
annual_report
INGGroepNV-AR_2020
4,822
Derivatives used in - hedges of net investments in foreign operations 69 23
13
annual_report
2329
461
On May 20, 2003, the Company issued $143.8 million of the 2033 Senior Notes in a public offering pursuant to the Company's existing shelf registration. The proceeds from this issuance were used to repay all of the then outstanding borrowings under the Company's revolving credit facility and to repay at maturity the Mat...
139
10K
2464
1,066
Unrealized losses on investment-grade fixed maturity securities principally relate to changes in interest rates or changes in market or sector credit spreads which occurred subsequent to the acquisition of the securities. These changes are generally temporary and are not recognized as realized investment losses unless ...
180
10K
HannoverRueckSE-AR_2013
1,831
Consolidated balance sheet as at 31 December 2012 in EUR thousand as stated Application of
15
annual_report
gb_lloyds_banking_grp-AR_2011
3,272
Vesting between threshold and maximum will be on a straight line basis, provided that shares comprised in the Absolute Share Price element of the award may only be released if both the EPS and Economic Profit performance measures have been satisfied at the threshold level or above.
47
annual_report
SwissReAG-AR_1913
27
Cash in Bank ......... „ 1,222,752.81 Cash in hand . . . . . . 21,384.51 94,013,432 76
18
annual_report
2809
624
Policy Cancellations and Persistency. Continued low interest rates and home price appreciation have driven heavy mortgage refinance activity and high policy cancellations, which in turn have negatively affected PMI’s insurance in force. While policy cancellations negatively affect PMI’s insurance in force, cancellation...
84
10K
INGGroepNV-AR_2015
5,086
In May 2015, ING Group divested NN Group for more than 50% and deconsolidated NN Group in line with IFRS-EU. In September 2015, ING Group brought down its stake in NN Group to 25.8%; ING Group needs to divest 100% of NN Group by year-end 2016. With the deconsolidation of NN Group, the restrictions from the EC decision ...
99
annual_report
871
592
In addition to addressing hardware/software information technology ("IT"), the Company has also been assessing year 2000 issues with respect to non-IT systems such as telephones and various building services which may rely on embedded microprocessors. Although failure of non-IT systems such as telephone service could d...
64
10K
4951
1,436
benefit under Medicare ("Medicare Part D") as well as a federal subsidy to sponsors of retiree medical benefit plans. During each of the years ended December 31, 2014, 2013 and 2012, the Medicare subsidies we received and accrued for were $0.7 million, $0.8 million and $0.8 million, respectively.
48
10K
NatwestGroupPLC-AR_2014
8,359
Write down of goodwill - continuing operations — — — (130) — — (130)
14
annual_report
AegonNV-AR_2014
3,237
Aegon UK at EUR 104 million and Aegon the Netherlands at EUR 3 million. Throughout 2014, CMBS fundamentals continued to improve as the pace of credit deterioration moderated, commercial real estate valuations continued to improve and there was a greater availability of financing. Liquidity has improved within the CMBS ...
58
annual_report
HannoverRueckSE-AR_2010
312
and “A+” from A.M. Best 4. Motivated employees Skills and motivation just as crucial to success as capital resources 5. Lean organisation Effective and efficient organisation geared to business processes; safeguarding of know-how and cost leadership
36
annual_report
NatixisSA-AR_2009
1,703
In 2009, Natixis Interépargne expanded its range of FCPE/ FCPR mutual funds labeled in the market for solidarity employee savings, with the launch of FCPE ES-PL Solidaire BP, FCPE Natixis ES Insertion Emplois Solidaire, Impact ISR Rendement Solidaire, Natixis Avenir Équilibre Solidaire and Natixis Élan Équilibre Solida...
47
annual_report
2714
1,238
The investment objective of our U.S. and Japanese plans is to preserve the purchasing power of the plan's assets and earn a reasonable inflation adjusted rate of return over the long term. Furthermore, we seek to accomplish these objectives in a manner that allows for the adequate funding of plan benefits and expenses....
159
10K
2518
231
Under the terms of the Quota Share Treaty, CCC has guaranteed the loss and loss adjustment expense reserves transferred to Western Surety as of September 30, 1997 by agreeing to pay Western Surety, within 30 days following the end of each calendar quarter, the amount of any adverse development on such reserves, as re-e...
84
10K
4471
1,853
The Company has non-cash collateral for securities lending from counterparties on deposit from customers, which cannot be sold or repledged, and which has not been recorded on its consolidated balance sheets. The
32
10K
4769
744
Operating income before interest expense and income taxes was $393.4 million for the year ended December 31, 2013, compared to $75.1 million for the year ended December 31, 2012, an increase of $318.3 million reflecting improvements in each of our insurance segments. This increase in operating income is primarily due t...
61
10K
NatwestGroupPLC-AR_2005
2,392
Any residual non-trading interest rate exposures are controlled by limiting repricing mismatches in the individual balance sheets. Potential exposures to interest rate movements in the medium to long term are measured and controlled using a version of the same VaR methodology that is used for the Group’s trading portfo...
72
annual_report
NatwestGroupPLC-AR_2016
6,091
Once it is determined there is an obligation, assessing the probability of economic outflows and estimating the amount of any liability can be very difficult. In many proceedings, it is not possible to determine whether any loss is probable or to estimate the amount of any loss.
47
annual_report
5339
1,318
Our statutory surplus is impacted by credit spreads as a result of accounting for the assets and liabilities on our fixed MVA annuities. Statutory separate account assets supporting the fixed MVA annuities are recorded at fair value. In determining the statutory reserve for the fixed MVA annuities, we are required to u...
253
10K
2281
1,942
In January 2003, the FASB issued Interpretation No. 46, Consolidation of Variable Interest Entities, an interpretation of ARB No. 51 (FIN 46). In December 2003, the FASB modified FIN 46 to make certain technical corrections and address certain implementation issues that had arisen. FIN 46 provides a new framework for i...
76
10K
4175
2,036
foreign exchange rates that may result in realized losses to us if our exposures are not hedged or if our hedging strategies are not effective and also to widening of credit spreads.
32
10K
fr_axa-AR_2005
3,929
c) Super subordinated debt The change in other reserves was mainly due to a €250 million issue of deeply-subordinated perpetual notes through the Euro Medium Term Notes (EMTN) program.
29
annual_report
BaloiseHoldingLtd-AR_2010
976
Business volume 2010 group switzerland germany Belgium luxembourg other units 2 in CHF million subtotal of iFrs gross premiums written 1 6,859.8 4,076.9 1,731.6 668.7 133.1 231.1 1 Premiums written and policy fees (gross). 2 Other units: Austria, Croatia, Serbia and Baloise Life Liechtenstein.
44
annual_report
gb_prudential-AR_2006
2,312
To ensure close alignment with our shareholders’ long-term interests, participants will normally be entitled to receive the value of reinvested dividends over the performance period for those shares that vest.
30
annual_report
nl_ing_grp-AR_2016
7,477
These figures exclude any guarantees which are received from a party related to the obligor, such as a parent or sister company. The figures also exclude any guarantees that may be implied as a result of credit default swap activities. The figures do include amounts that are guaranteed through an unfunded risk particip...
106
annual_report
Sampoplc-AR_2013
793
Sampo Group is engaged in three business areas. Nonlife insurance and life insurance are conducted by subsidiaries If P&C Insurance Holding Ltd and Mandatum Life Insurance Company Ltd that are wholly owned by parent company Sampo plc. In addition to the insurance subsidiaries, Group’s parent company Sampo plc held, as ...
115
annual_report
590
280
Preferred dividends increased as a result of the December 1995 issuance of Series B Cumulative Redeemable Preferred Stock (see "Liquidity and Capital Resources").
23
10K
5182
2,125
Branches of Renaissance Reinsurance and DaVinci based in the Republic of Singapore (the “Singapore Branches”) have each received a license to carry on insurance business as a general reinsurer. The activities of the Singapore Branches are primarily regulated by the Monetary Authority of Singapore pursuant to Singapore’...
109
10K
4939
883
During 2014, the Company impaired securities totaling $0.2 million related to a fixed maturity security. The impairment charge is included in “Net realized gains (losses) on investments” for 2014. We impaired the security due a downgrade of the security and the amount of the accumulated unrealized loss.
47
10K
SwissLifeHoldingAG-AR_2010
913
As approved by the shareholders at the General Meeting of Swiss Life Holding Ltd (hereinafter referred to as “Swiss Life Holding”) on 6 May 2010, a reduction in par value of CHF 2.40 per registered share was effected in 2010. The payout took place on 29 July 2010 and amounted to CHF 77 million.
54
annual_report
PosteItalianeSpA-AR_2018
6,961
C. Financing activities - issuance/purchase of own shares - - - issuance/purchase of equity instruments - - - dividends and other payments* (374,979,647) (458,276,740)
24
annual_report
4514
700
On April 2, 2012, we completed the Redomestication, moving our corporate headquarters to London. In the Redomestication, each issued and outstanding share of Aon Corporation common stock held by stockholders of Aon Corporation was converted into the right to receive one Class A Ordinary Share, nominal value $0.01 per s...
102
10K
AssicurazioniGeneraliSpA-AR_2018
872
On the basis of article 36 of Consob resolution no. 16191/2007, as subsequently amended, and article 2.6.2, paragraph 12, of Rules for the Markets organized and managed by Borsa Italiana S.p.A., it is hereby certified that in the Generali Group are met the “conditions for the listing of shares of companies with control...
80
annual_report
fr_axa-AR_2005
4,423
Alliance Capital 2,472 2,325 AXA Investment Managers 968 759 OTHER FINANCIAL SERVICES 428 387
14
annual_report
522
338
Equity securities at December 31, 1996 and 1995 consist of investments in various industry groups as follows:
17
10K
3669
1,167
The vast majority of the unrealized losses in the consumer non-cyclical sector relate to global macro economic conditions and credit spread widening. There are no individual issuers rated below investment grade in the consumer non-cyclical sub-sector which have unrealized loss positions greater than $2.5 million.
45
10K
AvivaPLC-AR_2012
1,774
Additional fees are paid as follows: Senior independent director £25,000 £35,000
11
annual_report
SwissLifeHoldingAG-AR_2016
1,668
Frictional costs of required capital (FC) The additional investment and taxation cost incurred by shareholders through investing required capital in the company compared to direct investment as individuals.
28
annual_report