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INGGroepNV-AR_2020
4,977
Right-of-use assets relate to leased land and buildings, cars, data-processing equipment and other leases.
14
annual_report
NNGroupNV-AR_2020
318
Another major milestone was composed of the transactions we did with reinsurance companies, to transfer the full longevity risk associated with EUR 13.5 billion of our pension liabilities. This significantly reduces our exposure to longevity risk, optimises our capital structure, and further strengthens our balance she...
46
annual_report
SwissReAG-AR_2019
4,245
Strategy Swiss Re’s investment portfolio provided an excellent contribution in 2019, despite headwinds from the declining interest rate environment. Fundamentally, the portfolio performed well with no material impairments alongside gains generated from the fixed income portfolio and strong equity performance. Overall, ...
103
annual_report
gb_prudential-AR_2017
6,562
bps * Margin represents operating income before performance‑related fees as a proportion of the related funds under management (FUM). Monthly closing internal and external funds managed by the respective entity have been used to derive the average. Any funds held by the Group’s insurance operations that are managed by ...
60
annual_report
RaiffeisenBankInternationalAG-AR_2019
126
Building on RBI’s pleasing results of recent years, the already established approach is being consistently pursued in order to become the most recommended financial services group in our markets. This should secure the strategic aim of creating solid and sustainable added value for RBI’s shareholders.
45
annual_report
5171
1,168
Premiums written relating to severity contracts are earned over the contract period in proportion to the period of protection. For the year ended December 31, 2014, severity net premiums earned increased $5.5 million, or 30.4%, compared to the same period in 2013. The increase is partially a function of the reversal of...
94
10K
SwissReAG-AR_2008
386
Summary of cash flow statement CHF millions 2007 2008 Change in %
12
annual_report
1956
619
The Company's insurance subsidiaries, domiciled in the Commonwealth of Massachusetts, prepare statutory financial statements in accordance with the accounting practices prescribed or permitted by the Division of Insurance of the Commonwealth of Massachusetts (the "Division"). Prescribed statutory accounting practices a...
92
10K
1728
156
As of January 1, 1994, the Company adopted Financial Accounting Standards Board Statement 115 and reclassified a portion of its fixed maturity securities portfolio as "available-for-sale," with the remainder being classified as "held-to-maturity." With that reclassification, the fixed maturity securities classified as ...
73
10K
StorebrandASA-AR_2017
1,035
Fee and administration income in the Guaranteed Pension segment has developed in line with the fact that a large part of the portfolio is mature and in long-term decline. Administration income fell 5.3%. Operating costs are being reduced over time as a result of the area being in long-term decline. The result was NOK 7...
99
annual_report
StorebrandASA-AR_2015
2,293
Employee share2 -12 -12 1) 449 909 891 shares with a nominal value of NOK 5.
16
annual_report
2292
771
The criteria for payment of performance awards is based primarily upon a comparison of PLC’s average return on average equity and total rate of return over a four-year award period (earlier upon the death, disability, or retirement of the executive, or in certain circumstances, of a change in control of PLC) to that of...
107
10K
1493
457
The Senior Market Brokerage segment improved results by more than 40%, increasing operating income by $1.6 million. This improvement is the result of continued internally generated growth of business in the segment, primarily in the medicare supplement and long term care lines, offset in part by a slight deterioration ...
56
10K
968
474
(g) Amount includes PGAAP adjustments related to the amortization of the DAC (($25.2) million) and VOLBA ($28.1 million) assets.
19
10K
TrygAS-AR_2007
1,277
The financial statements of the parent company are prepared in accordance with executive order no. 1467 dated 13 December 2006 issued by the Danish FSA on the presentation of financial reports by insurance companies and profession-specific pension funds, which is largely identical to IFRS. The deviations from the recog...
92
annual_report
gb_lloyds_banking_grp-AR_2002
424
The Group Risk Committee is responsible to the Group Executive Committee for protecting shareholder value through assessment and control of the high level risks assumed by the Group; approving the Group’s high level policies; ensuring that the necessary culture, practices and systems are in place to enable the Group to...
73
annual_report
AssicurazioniGeneraliSpA-AR_2014
3,645
Lif e ins ur an ce p ro vi sio ns (*)
12
annual_report
INGGroepNV-AR_2020
2,243
ING Group, its customers, and the financial services industry more widely. These risks include legal risks in relation to changes required to documentation for new and existing transactions that may be required. Financial risks (predominantly limited to interest rate risk) may also arise from any changes in the valuati...
176
annual_report
RSAInsuranceGroupPLC-AR_2007
657
Additionally, before any shares subject to the TSR condition vests, the Committee must be satisfied that the Company’s TSR performance is reflective of underlying financial performance.
26
annual_report
StandardLifeAberdeenPLC-AR_2020
4,496
Adviser 0.5 0.3 0.4 0.7 0.6 Personal (0.1) – 0.2 (0.1) 0.1 Parmenion 0.2 0.2 0.3 0.3 0.3 Eliminations 0.2 0.2 – 0.2 – Total net flows (0.8) (3.4) 3.4 (28.2) (7.5)
32
annual_report
5087
1,739
Capital Support for Subsidiaries. On April 17, 2015, the FHFA issued the final PMIERs, setting forth revised requirements for private mortgage insurers, including Radian Guaranty, to remain eligible insurers of loans purchased by the GSEs. The PMIERs became effective for existing eligible mortgage insurers on December ...
83
10K
AegonNV-AR_2014
5,691
Aegon to establish reserves to fund these future guaranteed benefits when equity market returns do not meet or exceed these guarantee levels. Aegon’s reported results under International Financial Reporting Standards (IFRS), as adopted by the European
36
annual_report
3589
932
Growth in premium income was attributable primarily to current and prior period sales growth and stable persistency, partially offset by the lapsing of policies during the first quarter of 2006 for policyholders in hurricane-impacted areas. Net investment income decreased in 2006 in comparison to 2005 due primarily to ...
60
10K
3938
1,553
Establishment of case basis reserves for unpaid losses and loss adjustment expenses on the Company’s in-force business and assessing the amount of anticipated claims and recoveries on the Company’s in-force CDS contracts requires the use and exercise of significant judgment by management, including estimates regarding ...
195
10K
1655
2,944
The Company has syndicated two lines of credit each in the amount of $250 million. There are 14 banks in the syndicate of lenders, which is led by Chase Bank, New York. The banks have committed to lend funds of up to $500 million when requested by the Company at prevailing rates determined in accordance with the line o...
83
10K
4596
1,335
Property casualty written premiums are deferred and recorded as earned premiums on a pro rata basis over the terms of the policies. We record as unearned premiums the portion of written premiums that applies to unexpired policy terms. Certain expenses associated with successfully acquiring insurance policies - primaril...
134
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2011
748
pursuing our risk-conscious investment policy, we reduced our investments in southern european and irish government bonds by €4.3bn to €5.8bn and invested in the eurozone, mainly in government bonds from germany and the netherlands. Bonds from portuguese, italian, irish, greek and spanish issuers made up 3% of our port...
57
annual_report
SwissLifeHoldingAG-AR_2010
1,841
The adoption of an amendment to IAS 40 Investment Property and a consequential amendment to IAS 16
17
annual_report
StandardLifeAberdeenPLC-AR_2015
2,663
In the valuation of the liabilities in respect of annuities and deferred annuities issued in the UK, allowance is made for future improvements in the rates of mortality. This is based on the Standard Life Assurance Limited (SLAL) parameterisation of the CMI_2013 model with long-term improvement rates of 1.8% for males ...
107
annual_report
2404
1,799
Accounts receivable and accounts payable. The carrying amounts reported in the balance sheets for accounts receivable and accounts payable approximates their fair value.
23
10K
Sampoplc-AR_2010
267
The Audit Committee of Sampo's Board of Directors annually approves the Internal Audit's operating plan. The Internal Audit reports on the audits performed to the Group CEO and the Audit Committee. Company-specific audit observations are reported to the respective companies' governing bodies and management.
44
annual_report
5182
2,046
The favorable development of prior accident years net claims and claim expenses within our Lloyd’s segment of $16.2 million during 2014 was principally due to reported claims activity coming in lower than expected on prior accident years events and 2014 was also impacted by a $4.1 million reduction in the estimated ult...
57
10K
fr_axa-AR_2002
229
(and age) held at 12/31/02 * (in euros) or employment of office
12
annual_report
2415
1,003
Annuity product revenues increased $41.7 million, or 26%, in 2003 compared to 2002, primarily due to higher fees from improved equity market performance and to an increase in interest earned on higher spread based asset products. Earlier in 2004, we extended the duration of interests underlying our RPE annuity block to...
75
10K
5830
2,597
[4]The aggregate treaty is not limited to a single event; rather, it is designed to provide reinsurance protection for the aggregate of all catastrophe events (up to $350 per event), either designated by the Property Claim Services office of Verisk or, for international business, net losses arising from two or more ris...
77
10K
2241
1,387
Surety - Our Surety contracts insure construction performance, as well as legal matters that include probate and bankruptcies. By their nature, Surety claims result in lower loss frequency and higher loss severity than most of our P&C businesses. In addition, Surety claims provide us with substantial opportunity for su...
62
10K
SwissLifeHoldingAG-AR_2019
195
In 2019, Swiss Life Asset Managers posted a segment result of CHF 309 million (previous year: CHF 272 million), corresponding to a 14% increase. Fee income in the year under review increased by 20% to CHF 833 million overall, of which half is attributable to organic growth. Consolidation effects and the acquisition of ...
76
annual_report
ASRNederlandNV-AR_2014
583
LEF is supported by a great many financial institutions, including a.s.r. The initiative is driven by enthusiastic financial advisers who are keen to share their experience and professional practice in the classroom. The goal is to have each student take at least one LEF course, which consists of four 1.5hour classes. ...
96
annual_report
5646
4,019
We have a deferred compensation plan for our outside directors that allows participants to defer receipt of a portion of their annual compensation until a later date. Participants select hypothetical investment funds for their deferrals which are credited with the hypothetical returns generated.
43
10K
3549
1,195
Pension Plans. On August 17, 2006, President Bush signed the Pension Protection Act of 2006 (“PPA”) into law. The PPA is considered to be the most sweeping pension legislation since the adoption of the Employee Retirement Income Security Act of 1974 (“ERISA”) on September 2, 1974. The provisions of the PPA may, over ti...
96
10K
Sampoplc-AR_2018
2,766
Reserves are exposed mainly to inflation and discount rates and to some extent to life expectancy. The sensitivity of If’s technical provisions to an increase in inflation, an increase in life expectancy and a decrease in the discount rate is presented in the table Sensitivities of Technical
47
annual_report
2982
1,062
On August 31, 2006, the Company sold all of the outstanding shares of Financial Profiles, Inc., a wholly-owned subsidiary, to Emerging Information Systems Incorporated. Financial Profiles, Inc. was originally acquired by the Company in 1998 in connection with the Company’s then ongoing life insurance and annuity operat...
66
10K
RSAInsuranceGroupPLC-AR_2018
1,357
During the year, the Group met with a number of key institutional investors. The Board receives regular updates in relation to shareholder views.
23
annual_report
NatwestGroupPLC-AR_2006
1,482
(3) The above figures include remuneration paid to Mr Cameron and Mr Fisher prior to their appointment as directors. For this period, Mr Cameron and Mr Fisher received salary and benefits of £141,000 and £105,000 respectively.
36
annual_report
1983
875
We recognize earnings for single premiums based on expiration of risk to match premiums earned with the related risk. Generally risk is higher in the earlier years of each policy, and thus we recognize a greater portion of premium earnings in the earlier years of a policy life. Single premiums written accounted for app...
99
10K
4997
1,232
Alleghany then evaluates those equity securities where the unrealized loss is 20 percent or more of cost as of the balance sheet date or which have been in an unrealized loss position continuously for six months or more preceding the balance sheet date. This evaluation takes into account quantitative and qualitative fa...
133
10K
4604
1,749
Bank annuities represent annuity premiums generated through banks by independent agents and brokers, as well as through direct relationships with certain financial institutions.
23
10K
ScorSE-AR_2019
1,386
+33 percentage pointsDifference between the average Solvency Ratio over 2015-2017 and the average Target Solvency Ratio
16
annual_report
ch_zurich_insurance_group-AR_2017
2,088
Disclosures under IFRS 4 ‘Insurance Contracts’ and IFRS 7 ‘Financial Instruments: Disclosures’ relating to the nature and extent of risks, and capital disclosures under IAS 1 ‘Presentation of Financial Statements’ have been included in the audited sections of the Risk review on pages 123 to 155, and they form an integr...
57
annual_report
AvivaPLC-AR_2010
2,563
Aviva plc Annual Report and Accounts 2010 13 – Tax continued (b) Tax charged/(credited) to other comprehensive income (i) The total tax charge comprises: £m
25
annual_report
NatixisSA-AR_2006
6,771
The Risk Management department carries out daily checks to ensure that limits are respected. A procedure is in place for monitoring any violations.
23
annual_report
3705
531
On May 31, 2007, Regan Holding and two of its subsidiaries, Legacy Financial and Legacy Advisory Services Inc., entered into an agreement with Multi-Financial Securities Corporation whereby Legacy Financial Services transferred its registered representatives and customer accounts to Multi-Financial Securities Corporati...
206
10K
5729
1,602
In accordance with FASB ASC Topic 480-10-S99-3A, SEC Staff Announcement: Classification and Measurement of Redeemable Securities, redemption features not solely within the control of the issuer are required to be presented outside of permanent equity on the consolidated balance sheets. As described above, the holder ha...
181
10K
DirectLineInsuranceGroupPLC-AR_2017
432
Living wage We comply with the principles of the Living Wage Foundation relating to our employees.
16
annual_report
fr_axa-AR_2019
5,279
January 1, 2019. The Group does not use the “carve out” option allowing not to apply all hedge accounting principles required by IAS 39.
24
annual_report
de_allianz-AR_2013
18
Figures prior to 2008 have not been restated to reflect the change in the Allianz Group’s accounting policy for fixed-indexed annuities, effective 1 July 2010.
25
annual_report
5807
1,330
higher costs associated with insurance-related activities due to higher paid claims, net of reinsurance;
14
10K
HiscoxLtd-AR_2010
2,126
Analysis at the 100% level is required in order to avoid distortions arising from reinsurance to close arrangements which subsequently increase the Group’s share of ultimate claims for each accident year, three years after the end of that accident year.
40
annual_report
5494
1,379
The fair value of securities on deposit with various regulatory authorities as of December 31, 2017 and 2016 was $10 million and $11 million, respectively. These deposits are required to comply with state insurance laws.
35
10K
StorebrandASA-AR_2004
1,052
The strategic work in 2005 will focus on performance relative to the main themes of growth, productivity, efficient use of capital and organisational development. These are the key drivers in
30
annual_report
NatixisSA-AR_2004
1,851
In preparation for transition to international accounting standards, a new consolidation package has been designed and distributed, allowing the identification and checking of all information additional to that required under French accounting standards to enable transition to IFRS. This solution, which includes over 2...
87
annual_report
NatwestGroupPLC-AR_2015
3,929
Following the major IT incident that occurred in 2012, significant improvements have been delivered to the technology environment. These included major investments in upgrading core banking infrastructure and improving a broad range of processes and tools. Further improvement initiatives will continue as part of the Tr...
52
annual_report
5807
2,300
At December 31, 2019, the Company had $13.8 billion of net ceded reinsurance recoverables with third-parties. Of this total, $11.9 billion, or 86%, were with the Company’s five largest ceded reinsurers, including $4.2 billion of net ceded reinsurance recoverables which were unsecured. At December 31, 2018, the Company ...
84
10K
AegonNV-AR_2004
3,018
Options/SARs number1 20041 20041 in EUR1 Exercise period 1 Adjusted for the stock splits in 1998 and 2000 as appropriate.
20
annual_report
5474
2,186
Subsequent events have been evaluated through the date the financial statements were issued.
13
10K
HelvetiaHoldingAG-AR_2016
145
Overall, we will become more customer-focused, digital and agile while remaining true to our values of trust, dynamism and enthusiasm.
20
annual_report
5364
1,353
coverage. Other premium revenue for Large Case Pensions’ limited payment pension and annuity contracts is recognized as revenue in the period received. Premiums related to unexpired contractual coverage periods are reported as unearned premiums in our Consolidated Balance Sheets and recognized as revenue when earned.
45
10K
5893
678
(1) The weighted average for the spread to U.S. Treasuries for corporate debt securities (private placements) is weighted based on the security’s market value as a percentage of the aggregate market value of the securities.
35
10K
931
528
In July 1998, the Company completed a $75 million offering of Series A Preferred Stock with an initial coupon rate of 5.575% through June 15, 2003. The net proceeds from the sale of the Series A Preferred Stock were used to redeem the Company's $50 million of 9.5% Cumulative Perpetual Preferred Stock on December 15, 19...
89
10K
NatixisSA-AR_2007
3,199
Natixis may have diffi culty in identifying, executing and integrating an external growth policy in its acquisitions or joint ventures
20
annual_report
5672
1,550
minority interest in four venture capital funds totaling $4.5 million and eight certified low-income
14
10K
5934
444
Our Crawford TPA Solutions segment, which operates under the Broadspire brand globally, reported operating earnings of $21.5 million, or 5.9% of revenues before reimbursements in 2020, as compared to $27.2 million, or 6.9% of revenues before reimbursements in 2019. This decrease was due to lower revenues resulting from...
82
10K
NatwestGroupPLC-AR_2017
3,057
Credit risk: balance sheet analysis continued Loans, REIL and impairment provisions Risk elements in lending (REIL) comprises impaired loans and accruing loans past due 90 days or more as to principal or interest. Impaired loans are all loans (including loans subject to forbearance) for which an impairment provision ha...
93
annual_report
5156
1,191
(1) Estimated additional share grants expected due to achievement of performance criteria.
12
10K
de_allianz-AR_2015
2,887
During the year ended 31 December 2015, the Allianz Group recorded compensation expenses of € 31 mn (2014: € 31 mn) related to these share options.
26
annual_report
AegonNV-AR_2016
1,171
For its with-profits business, Aegon UK's guiding philosophy is to match guarantees with appropriate investments. The nature of with-profits businesses, however, typically prevents perfect matching, and the role of the MIC is therefore to monitor the capital implications of any mismatching. Reports covering the impact ...
64
annual_report
5884
973
On December 14, 2017, our Board of Directors authorized the repurchase of up to $3.0 billion of our common shares expiring on December 31, 2020, exclusive of shares repurchased in connection with employee stock plans.
35
10K
608
286
The Company maintains a short-term unsecured bank credit line of $10 million to fund interim cash requirements. There was $5,000,000 outstanding under this line of credit as of December 31, 1997. Effective June 30, 1994, this credit line was renewed and modified to include an additional $8,000,000, six-year, term loan ...
86
10K
nl_ing_grp-AR_2018
4,421
Interest surcharges claims: ING received complaints and is involved in litigation with natural persons (natuurlijke personen) in the Netherlands regarding increases in interest surcharges with respect to several credit products, including but not limited to residential property
37
annual_report
5063
1,060
For universal life-type contracts and fixed and variable deferred annuity contracts recoverability testing is performed for current issue year products to determine if gross profits are sufficient to cover DAC/VOBA and other intangibles, estimated benefits and related expenses. In subsequent years, the Company performs...
100
10K
4485
1,208
Total net investment income declined largely due to equity securities, trading, resulting from a market decline of the underlying investment funds supporting the Japanese variable annuity product and net outflows, partially offset by the Japanese yen strengthening in comparison to the euro. Also contributing to the dec...
180
10K
5890
955
Reimbursed expenses - Client reimbursable expenses, including those relating to travel, other out-of-pocket expenses and any third-party costs, are included in revenue, and an equivalent amount of reimbursable expenses is included in other operating expenses as a cost of revenue as incurred. Reimbursed expenses represe...
78
10K
4431
384
The regulators requested public comments regarding an alternative QRM definition, the underwriting requirements of which would allow loans with a maximum LTV of 90%, higher debt-to-income ratios than allowed under the proposed QRM definition, and that may consider mortgage insurance in determining whether the LTV requi...
71
10K
5658
1,333
2017 versus 2016: OTTI losses in 2017 were $14 million compared to $26 million in 2016, a decrease of $12 million. The decrease in 2017 compared to 2016 was mainly due to higher losses related to non-U.S. denominated securities as a result of the decline in foreign exchange rates against the U.S. dollar in 2016. The cu...
63
10K
TrygAS-AR_2004
790
The strong growth in the technical result was reflected in a combined ratio, net of reinsurance, of 93.4 in 2004, corresponding to an improvement of 6.4 points relative to 2003.
30
annual_report
NatwestGroupPLC-AR_2008
3,051
Preference shares 16,655 10,560 Innovative Tier 1 securities 7,383 6,480 Tax on the excess of expected losses over provisions 615 n/a Tier 1 deductions (2,429) n/a Total Tier 1 capital 69,847 44,364
32
annual_report
ScorSE-AR_2020
1,625
In any case, if the observed average ROE is lower than 5%, the proportion of the shares that will vest/the stock options that could be exercised under this criterion will be 0%.
32
annual_report
BaloiseHoldingLtd-AR_2017
884
5. COMPONENTS OF REMUNERATION Baloise views its compensation packages in the round and therefore factors in not only the basic salary plus short- and long-term variable remuneration but also other benefits such as pension contributions, additional benefits and staff development.
40
annual_report
3759
1,316
As of December 31, 2008, the aggregate future minimum rental commitments under all non-cancellable operating lease agreements are as follows:
20
10K
4145
1,606
and 2008 may affect future earnings and financial position should management later conclude that some of the current declines in the fair value of these investments are other than temporary.
30
10K
5309
1,923
Foreign and U.S. revenues from external customers for the three years ended December 31 are shown below. In the periods shown, no foreign country contributed more than 5% of consolidated revenues from external customers.
34
10K
ch_zurich_insurance_group-AR_2006
2,052
c) Dynamic decisions To reflect more realistically the outcome in stochastic simulations, the assumptions for each simulation make allowance for the actions that policyholders and management are expected to take in response to the investment conditions modeled.
37
annual_report
PosteItalianeSpA-AR_2020
2,473
Communication and training on tax issues During 2020, an information session was held for Poste Italiane’s senior management, as well as the heads of the functions responsible for carrying out tax-related activities and controls, aimed at illustrating the key aspects of the Collaborative Compliance regime. This initiat...
115
annual_report
3278
1,828
The Company has written certain business that has loss experience generally characterized as having low frequency and high severity. This results in volatility in both results and operational cash flows. The potential for large claims or a series of claims under one or more reinsurance contracts means that substantial ...
78
10K
RaiffeisenBankInternationalAG-AR_2007
2,145
The central risk management and controlling functions are accountable for the adequate and appropriate implementation of all aspects of the Group’s risk management process. In particular, they establish common risk management principles and set business-specific standards, tools, and practices which are followed in all...
116
annual_report
BeazleyPLC-AR_2017
693
This year we have formalised our participation in the Lloyd’s Disaster Risk Facility (DRF) with a consortium agreement with six other syndicates, although this was not utilised in 2017. With a headline capacity of $425m for any risk, the facility can support governments or organisations in emerging markets to improve r...
97
annual_report
BaloiseHoldingLtd-AR_2011
1,153
3.5.5 other intangible assets and own developments Other intangible assets consist primarily of software, external IT consulting (in connection with software developments), own developments (such as software), as well as identified assets from the acquisition of companies (for example brands, customer relationships, et...
80
annual_report
ch_zurich_insurance_group-AR_2017
2,228
kk its fair value has been below the weighted-average cost for a prolonged period of 24 consecutive months or longer
20
annual_report
ScorSE-AR_2014
1,880
Available-for-sale assets include non-derivative assets that are either classified as available for sale or not allocated to another category.
19
annual_report
gb_prudential-AR_2003
197
M&G M&G is Prudential’s UK and European fund management business. It has over £111 billion of funds under management, of which £87 billion relates to Prudential’s long-term business. M&G operates in markets where it has a leading position and competitive advantage, including retail fund management, institutional fixed ...
92
annual_report