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3846
1,055
Gross case reserves for our professional liability classes decreased by $389 million in 2008 due primarily to generally low reported loss activity as well as settlements related to previously established case reserves and, to a lesser extent, the impact of currency fluctuation. The significant increase in gross loss re...
83
10K
Sampoplc-AR_2013
1,151
Currency risk can be divided into transaction and translation risk. Transaction risk refers to currency risk arising from contractual cash flows in foreign currencies related to insurance activities, investment
29
annual_report
StorebrandASA-AR_2006
2,001
In 2000, Storebrand Skadeforsikring transferred all its run-off land-based Norwegian non-life insurance and all direct marine insurance to If through a 100% reinsurance arrangement. The result is that the company has retained fronting responsibility, but has no commercial responsibility for the business transferred unl...
79
annual_report
ScorSE-AR_2009
2,444
Amortisation of past service cost 1 1 - - - - - - Settlement / curtailment (3) (3) - - (1) (1) - -
24
annual_report
3663
890
The amortized cost, gross unrealized gains (losses), and estimated fair value of our investments at December 31 are as follows (in thousands):
22
10K
de_allianz-AR_2012
103
Staying regularly informed about clients’ concerns is an important prerequisite for working out the best offer.
16
annual_report
de_allianz-AR_2017
17
These are some of the joint achievements we are proud to report for 2017: − Asset Management delivered outstanding results, with PIMCO performing strongly and AllianzGI prospering as well.
29
annual_report
NatixisSA-AR_2018
3,317
The counterparty risk to which Natixis Assurances is exposed mainly concerns reinsurance counterparties. The selection of reinsurers is a key component of managing this risk: Natixis Assurances deals with reinsurers that are subject to aa financial rating by at least one of the three internationally recognized rating a...
71
annual_report
INGGroepNV-AR_2020
7,324
For each target separately: Show that your bank has implemented the actions it had previously defined to meet the set target.
21
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2001
2,094
LLiigghhttss oouutt.. The two largest US energy providers are insolvent, and California’s power supply breaks down.
16
annual_report
de_allianz-AR_2014
411
− The framework agreements between Allianz SE and the subsidiaries of various car manufacturers (FCE Bank plc, Volkswagen Financial Services AG, respectively) relating to the distribution of car insurance by the respective car manufacturers each include a clause under which each party has an extraordinary termination r...
59
annual_report
BeazleyPLC-AR_2017
1,793
Financial assets at fair value – fixed and floating rate debt securities 2,687.3 928.2 1.9 – – 3,617.4 – equity funds – – – – 116.3 116.3 – hedge funds – – – – 317.1 317.1 – illiquid credit assets – – – – 132.4 132.4 – derivative financial instruments – – – – 12.2 12.2 Insurance receivables – – – – 794.7 794.7 Reinsura...
90
annual_report
5251
1,103
2016 vs. 2015: The decreases in our net income, basic EPS and diluted EPS for the year ended December 31, 2016 were attributable to movements within our Life retrocession derivative, as discussed in Item 8, Note 7, "Derivative Instruments," to the Consolidated Financial statements included herein, as well as increased ...
126
10K
4826
766
Any embedded feature other than the conversion option is evaluated at issuance to determine if it is probable that such embedded feature will be exercised. If the Company concludes that the exercisability of that embedded feature is not probable, the embedded feature is considered to be nonsubstantive and would not imp...
63
10K
5944
1,222
On September 13, 2019, GHH, LLC acquired a 100% interest in Norvax. Per the Incentive Share Plan, a change in control triggering event occurred and employees granted incentive shares under this plan became eligible for cash payments and as a result, the Company recorded $13.1 million in incentive share expense in the P...
55
10K
StandardLifeAberdeenPLC-AR_2015
4,214
Y. Related party transactions (a) Transactions with and balances from/(to) related parties In the normal course of business, the Company enters into transactions with related parties. The year end balances arising from such transactions are as follows: Due from related parties: Subsidiaries 63 49 Loans to subsidiaries ...
51
annual_report
3382
2,072
In September 2005, the American Institute of Certified Public Accountants (the "AICPA") issued Statement of Position 05-1, "Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection with Modifications or Exchanges of Insurance Contracts" ("SOP 05-1"). SOP 05-1 provides guidance on accounting by i...
80
10K
ScorSE-AR_2010
3,909
Carlo Acutis Yes Yes Yes Yes Yes Yes Yes Yes Yes
11
annual_report
ScorSE-AR_2020
257
See Sections 3 – Risk factors and risk management mechanisms and 1.2.6 – Research and development, patents and licenses.
19
annual_report
SwissReAG-AR_2012
3,178
3 Under current Swiss tax legislation, the amount of legal reserves from capital contributions, which has been confirmed by the Swiss Federal Tax Administration, can be paid out as dividends exempt from Swiss withholding tax, and for Swiss resident individual shareholders holding shares in private weal...
52
annual_report
NatwestGroupPLC-AR_2020
1,740
The Chief Governance Officer and Company Secretary is responsible for advising the Board and individual directors on all governance matters, and also facilitates Board induction and directors’ professional development.
29
annual_report
5829
1,478
Net operating expense (non-GAAP); net operating expense ratio (non-GAAP). Net operating expense decreased by $33.1 million, or 15.3%, from $216.1 million for the year ended December 31, 2019, to $183.1 million for the year ended December 31, 2020. Our A&H net operating expense ratio decreased from 32.6% for the year en...
90
10K
2656
1,219
Income tax expense attributable to income from continuing operations differs from the amounts computed by applying the U.S. federal income tax rate of 35%. Those effects are summarized as follows:
30
10K
5813
1,233
The following table provides a roll forward of the allowance for credit losses on our AFS fixed income securities for 2020:
21
10K
AegonNV-AR_2018
7,073
Aegon Retirement Choices (ARC) helps advisors and their customers save for the long term and manage the transition from work to retirement. ARC uses leading-edge digital technology to deliver an intuitive method of saving for the long term, including retirement, taking income in retirement, such as the on-platform draw...
97
annual_report
de_allianz-AR_2018
2,824
Non-operating change in reserves for insurance and investment contracts (net) - - (22) (61)
14
annual_report
gb_lloyds_banking_grp-AR_2015
342
Our Code of Business Responsibility affirms that we do not finance any activities prohibited by international conventions supported by the UK government, such as the Oslo Convention on Cluster Munitions and the Ottawa Treaty on Anti-Personnel Landmines. Consequently, we will not enter into credit or investment relation...
57
annual_report
3065
1,202
On February 22, 2006, the Company issued $100.0 million aggregate principal amount of floating rate senior debentures, pursuant to a private placement. The net proceeds from the offering of $99.3 million, after fees and expenses, were used for general corporate purposes, including a capital contribution to Odyssey Amer...
283
10K
HiscoxLtd-AR_2017
556
s In 2017, Hiscox Bermuda supported organisations working with local young people, the elderly and the most vulnerable members of the community. These groups included The Family Centre, The Reading Clinic, the Eliza Dolittle Society, The Bermuda Society for the Blind, Big Brothers Big Sisters, Meals on Wheels, Purvis P...
111
annual_report
5071
1,869
The liabilities for GMDB and GMIB, which are recorded in Future policyholder benefits, represent the expected value of benefits in excess of the projected account value, with the excess recognized ratably over the accumulation period based on total expected fee assessments, through Policyholder benefits and losses incu...
86
10K
5666
870
Our Services segment offers a broad array of real estate, title and mortgage services to market participants across the mortgage and real estate value chain. See “Item 1. Business-Services-Services Business Overview” and Note 1 of Notes to Consolidated Financial Statements for additional information regarding the Servi...
54
10K
SwissReAG-AR_2018
3,425
The fair values of assets are adjusted to incorporate the counterparty risk of non-performance. Similarly, the fair values of liabilities reflect the risk of non-performance of the Group, captured by the Group’s credit spread. These valuation adjustments from assets and liabilities measured at fair value using signific...
96
annual_report
2895
1,799
Interest expense increased primarily as a result of interest paid on non-recourse funding obligations, issued in the third and fourth quarters of 2003 and the fourth quarter of 2004, supporting certain term life insurance policies.
35
10K
2054
661
In December 2002, the FASB issued Statement of Financial Accounting Standards No. 148, "Accounting for Stock-Based Compensation-Transition and Disclosure" ("SFAS No. 148") which amends SFAS Statement No. 123, "Accounting for Stock-Based Compensation" ("SFAS No. 123"). The objective of SFAS No. 148 is to provide alterna...
175
10K
ScorSE-AR_2008
3,215
Other commitments given 226 226 260 Securities pledged with ceding companies 24 24 Marketable securities pledged with fi nancial institutions 80 Investments in subsidiaries and affi liates pledged to fi nancial institutions Mortgages Other guarantees given to fi nancial institutions 1 1 24 Contract termination indemnit...
59
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2015
1,943
All technical provisions are regularly subjected to a liability adequacy test in accordance with IFRS 4. If current experience shows that the provisions posted on the basis of the original assumptions – less the related deferred acquisition costs and the present value of the related premiums – are inadequate to cover t...
173
annual_report
1225
575
Based on the cash flow of the Company in recent years, the Company's current financial condition and the Company's expectation as to its net premiums written, the Company does not expect the dividends from the
35
10K
5064
1,059
In April 2015, the FASB issued ASU 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement (Subtopic 350-40). The update requires the Company to determine if the cloud computing arrangement contains a software license and if so, apply the accounting requirements for other intangible assets. The up...
124
10K
5787
762
for the year ended December 31, 2018, filed with the SEC on February 13, 2019.
15
10K
fr_axa-AR_2011
5,536
Assets held for sale including discontinued operations (e) 360 22,848 12 Cash and cash equivalents 31,072 22,095
17
annual_report
5193
824
A reconciliation of total segment operating loss to net income (loss) for the years ended December 31, 2016 and 2015 is presented in Table 1 below:
26
10K
5910
1,128
At December 31, 2020, 4% of invested assets at fair value were represented by fixed maturities rated below investment grade. Par value of these investments was $931 million, amortized cost was $841 million, and fair value was $877 million. While these investments could be subject to additional credit risk, such risk sh...
59
10K
1912
689
Equity indexed products sales typically follow the stock market in that sales are higher when confidence is high in the stock market and low if the stock market is showing poor performance. Sales of these products increased in 2002 over 2001 as consumers speculated as to a market bottom. Since the Company does not offe...
76
10K
2244
1,279
Issues through 1980 are based on industry experience; 1981 through 2003 issues are based on industry experience and applicable Insurance Subsidiary experience, where available. Policies acquired in acquisitions are based on recent experience of the blocks acquired.
37
10K
3949
357
Capital Expenditures: During 2010, the Company has plans for various capital improvement projects, including hardware purchases and several software development projects that are anticipated to be funded via cash flows from operations. All material anticipated capital expenditures are subject to periodic review and rev...
53
10K
4162
425
At December 31, 2010 and 2009, the recorded liability for loss and loss and adjustment expense was $13,184,000 and $12,646,000, respectively, a $538,000 increase. Claim activity from fire related losses in the dwelling fire and homeowners lines of business during 2010 combined with increased automobile claims were the ...
97
10K
INGGroepNV-AR_2018
5,173
Based on the above two sources of estimation uncertainty, analysis on the sensitivity of key forward-looking macroeconomic inputs used in the ECL collective-assessment modelling process and the probability-weights applied to each of the three scenarios is presented below. The countries included in the analysis are for ...
118
annual_report
NatwestGroupPLC-AR_2012
2,139
Contractual maturity The following table shows the residual maturity of financial instruments, based on contractual date of maturity. Held-for-trading (HFT) assets and liabilities have been excluded from the maturity analysis in view of their short-term nature and are shown in total in the table below. Hedging derivati...
54
annual_report
de_allianz-AR_2008
1,906
Purchase Plan in 2008, which subject to certain conditions, provides eligible employees with an opportunity to acquire
17
annual_report
1776
209
Operating earnings for the United Coastal Liability Insurance segment were $2,810,000 in 2001, $3,549,472 in 2000 and $4,578,802 in 1999. The decrease in operating earnings is due primarily to a decrease in earned premiums and investment income.
37
10K
fr_axa-AR_2001
3,933
At December 31, At January 1,1 At December 31, (in euro millions) 1999 2000 2001
15
annual_report
NatwestGroupPLC-AR_2007
27
The directors have recommended a final dividend of 23.1p per ordinary share which, when added to the interim dividend of 10.1p, makes a total for 2007 of 33.2p, an increase of 10%.
32
annual_report
3878
2,630
Represents obligations of states, municipalities and political subdivisions. In 2008, AIG changed its intent to hold such securities to maturity.
20
10K
ASRNederlandNV-AR_2011
980
The equities are diversified across the Netherlands (including participating interests) and other European countries. A limited part of the portfolio consists of investments in the Pacific private equity and hedge funds.
31
annual_report
GjensidigeForsikringASA-AR_2010
1,265
the table below and on the next page show the figures for gjensidige Forsikring asa.
15
annual_report
3968
579
The UA Branch Office Agency produced net sales of $9.2 million in 2009 of Liberty National’s life products. As noted earlier, this Agency traditionally focused on health product sales. Due to intense competition in recent periods in the health insurance market, the UA Branch has experienced sharp declines in agent coun...
84
10K
ch_zurich_insurance_group-AR_2010
2,136
Foreign exchange contracts Foreign exchange contracts consist mainly of forward contracts which are used to hedge the Group’s foreign currency exposures and manage balance sheet mismatches.
26
annual_report
5536
1,046
See Note 3 - Investments to the consolidated financial statements for information regarding valuation allowance for collection loss, impairments, loan-to-value, and debt service coverage.
24
10K
3356
1,344
Fair values for commitments to make investments in fixed maturity securities (primarily private placements), limited partnerships, mortgage loans on real estate and real estate are based on the difference between the value of the committed investments as of the date of the accompanying Consolidated Balance Sheets and t...
70
10K
3363
504
The following table sets forth the location, approximate square footage and primary use of each of the principal properties we occupied at December 31, 2007:
25
10K
2811
451
During 2004, the average stock price exceeded the $21.00 average price for a 20-trading-day period required for the first 20% of the shares granted in January 2003 to be awarded, and therefore we began the annual expensing of such shares. As a result, the 2004 expense increased to $2.6 million from $2.3 million in 2003...
104
10K
3755
879
Goodwill represents the unamortized excess of cost over the fair value of the net tangible and other intangible assets acquired. SFAS No. 142, Goodwill and Other Intangible Assets, or SFAS 142, requires that we test at least annually for impairment at a level of reporting referred to as the reporting unit, and more fre...
156
10K
fr_axa-AR_2008
1,461
Net income decreased by €267 million on a constant exchange rate basis to €–252 million reflecting adjusted earnings evolution together with a €189 million exchange rate loss primarily arising from the revaluation of Euro-denominated inter-company loans.
36
annual_report
4230
2,592
The following table sets forth Prudential Financial’s principal sources and uses of cash and short-term investments for the period indicated.
20
10K
4702
1,285
We generally maintain capital and surplus levels in our insurance subsidiaries in an amount that is sufficient to maintain a minimum consolidated RBC ratio of 350 percent and will typically seek to have our insurance subsidiaries pay ordinary dividends or request regulatory approval for extraordinary dividends when the...
91
10K
5761
360
Our Claims and Risk Engineering (CARE) organization is focused on providing an exceptional customer experience for those who rely on us during some of their greatest times of need. Our CARE team is continually exploring new ways to streamline and improve the claim process through the use of technology, while keeping in...
73
10K
de_allianz-AR_2018
543
As of 31 December 2018, this target was met for the second management level with a percentage of women of 28 %, but could not be met on the first level with a percentage of 15 %. The first management level below the Board of Management comprises a very small comparative group of executives. No suitable female candidate...
73
annual_report
INGGroepNV-AR_2016
2,244
1 Accounting policies a) Changes in accounting policies in 2016 ING Group has consistently applied its accounting policies to all periods presented in these Consolidated annual accounts. Other than the change in accounting policy related to ‘Offsetting of financial assets and liabilities’, as described below, there wer...
62
annual_report
HiscoxLtd-AR_2002
520
Agency salaries 3,023 2,176 Underwriting agency income 1,627 – Profit commission 3,437 159
13
annual_report
BaloiseHoldingLtd-AR_2006
674
VORABDRUCK 9.6% to CHF 197.0 million (2005: CHF 217.8 million). Unit-linked life insurance saw a particularly sharp decline in volume of 21.1% due to the end of the distribution partnership
30
annual_report
1097
503
The Company expects to complete its Y2K program in a timely manner. However, the Company believes that it is not possible to determine with certainty that all Y2K issues have been identified or corrected. The number of devices that could be affected and the interactions among these devices are simply too numerous. In a...
125
10K
4847
1,903
The Company recorded stock-based compensation expense of $7 million, $8 million and $10 million related to the Loews Plan for the years ended December 31, 2013, 2012 and 2011. The related income tax benefits recognized were $2 million, $3 million and $4 million. At December 31, 2013, the compensation cost related to no...
76
10K
5048
2,911
Includes amortized cost and fair value of $1 and $4 as of December 31, 2015 and 2014, respectively, related to limited partnerships and other alternative investments.
26
10K
3634
1,199
MUSIC wrote $5.6 million of Excess and Surplus Lines premium during 2008, of which $2.1 million was earned during the year. MUSIC’s loss and LAE expenses for 2008 of $1.8 million primarily represented IBNR. MUSIC wrote a de minimis amount of premium during the period from November 1, 2007 to December 31, 2007.
53
10K
AegonNV-AR_2011
6,623
In August 2010 the European Commission approved the capital support obtained from the Dutch State at the height of the global financial crisis. The Commission gave its approval for the state support, but imposed a number of conditions on the company, which will remain in place until the support is fully repaid. These c...
62
annual_report
SwissReAG-AR_2014
221
Big data and smart analytics the ability to gather and process information is profoundly altering the business landscape, and this process will not stop at the insurance sector.
28
annual_report
1125
129
During 1998, the Companies' ratings were upgraded by Standard & Poor's Rating Services ("Standard & Poor's") from AA to AA+. During the first quarter of 1999, the Companies' ratings were upgraded by Duff & Phelps Credit Rating Company from AA+ to AAA.
42
10K
StandardLifeAberdeenPLC-AR_2015
1,738
Our responsibilities and those of the Directors As explained more fully in the Directors’ responsibility statement set out on page 99, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
44
annual_report
2337
916
WC Holdings-Options to acquire 1,281 shares of common stock of WC, an 80%-owned subsidiary of WC Holdings, at approximately $694 per share, the fair value at the date of the grant, were granted to subsidiary employees during the first quarter of 2001. 721 of these options vest over a three-year period, 200 options vest...
183
10K
AvivaPLC-AR_2000
334
4 Richard Harvey FIA 50 Deputy Group Chief Executive Appointed to the Board as Deputy Group Chief Executive in May 2000. Joined Norwich Union in 1992, holding senior positions in New Zealand and the United Kingdom before joining the Norwich Union Board in 1995 and becoming Group Chief Executive in 1998. Richard will su...
64
annual_report
4989
4,076
Certain of the Company’s debt instruments and committed facilities, as well as its credit facility, contain various administrative, reporting, legal and financial covenants. The Company believes it was in compliance with all such covenants at December 31, 2014.
38
10K
4002
950
The results of operations and financial condition of Cariten, Metcare, OSF, SecureHorizons, KMG, CompBenefits, and DefenseWeb have been included in our consolidated statements of income since the acquisition dates.
29
10K
NNGroupNV-AR_2019
787
For NN’s residential mortgage portfolio, we analysed physical risks. Physical risks for mortgages in the Netherlands are mainly related to damage caused to properties by flooding events (including surface water flooding caused by heavy rainfall, river flooding, and coastal flooding). These events could either lead to a...
63
annual_report
3464
9,346
AFG and AAG Holding have a five-year revolving credit facility under which they can borrow a combined $500 million. Amounts borrowed bear interest at rates
25
10K
3379
999
Certain reclassifications to prior period information have been made to conform to current year presentation.
15
10K
5343
528
Net operating loss increased $41 million in 2016 as compared with 2015. Results in both periods were negatively affected by after-tax charges related to the application of retroactive reinsurance accounting to adverse reserve development ceded under the 2010 A&EP Loss Portfolio Transfer. The Loss Portfolio Transfer dro...
71
10K
RaiffeisenBankInternationalAG-AR_2010
3,868
Company, domicile (country) Subscribed capital in local currency Share Indirectly held1 Type2
12
annual_report
4975
493
We calculate and maintain reserves for policyholder benefits for our Life & Group Non-Core segment, which primarily includes long term care, based on actuarial assumptions. The determination of these reserves is fundamental to our financial results and requires management to make assumptions about expected investment a...
74
10K
835
225
The Company has no material commitments for capital expenditures throughout the balance of the year 1998 as all rentable space on the first floor of its office building is fully leased.
31
10K
5147
574
Reducing the risk that rising interest rates will negatively impact the value of fixed income securities by reducing the Allstate Financial portfolio maturity profile.
24
10K
5872
817
Shelf Registration Statement - On November 15, 2019, we filed a shelf registration statement on Form S-3 with the SEC, registering the offer and sale from time to time, of an indeterminate amount of our common stock. The availability of the potential liquidity under this shelf registration statement depends on investor...
135
10K
1060
217
Underwriting results were near-breakeven in 1998 compared with profitable results in 1997 and 1996. The combined loss and expense ratio, the common measure of underwriting profitability, was 99.8% in 1998 compared with 96.9% in 1997 and 98.3% in 1996.
39
10K
2822
1,354
and financial strength ratings; the issuer’s financial performance, including earnings trends, dividend payments, and asset quality; a weakening of the general market conditions in the industry or geographic region in which the issuer operates; the length of time in which the fair value of an issuer’s securities remain...
112
10K
2020
318
EXTERNAL FACTORS ALSO CONTRIBUTE TO POLICY RENEWAL OR LAPSATION. Economic cycles can influence an insured's ability to continue to pay insurance premiums when due. New government initiatives have raised public awareness of the escalating costs of healthcare, which we believe boosts new sales and promotes renewal paymen...
47
10K
339
178
Non-segmented operating expenses in 1996, 1995 and 1994 were $3.9 million, $3.4 million and $2.2 million, respectively. These expenses primarily relate to non-life insurance operations, including interest expense. Interest expense is a function of the average debt outstanding and interest rate charged. Interest expense...
87
10K
1532
232
Policy fees and other income for the year ended December 31, 2000 decreased $86, or 1.8%, to $4,693 from $4,779 for the year ended December 31, 1999. While the net decrease is not significant, the components of the net decrease are. The most significant source of policy fees for the Company is derived from Graward and ...
190
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2014
623
Board of management remuneration is disclosed under two different sets of rules: on the basis of German Accounting Standard No. 17 (DRS 17, revised 2010) and the new provisions of the German Corporate Governance Code applicable since financial year 2014. There are therefore deviations in individual remuneration compone...
51
annual_report
3413
771
Our growth in premiums, underwriting results and investment income have been, and continue to be, influenced by market conditions, as well as the acquisition of FPIG on October 1, 2005. The Group’s financial statements include FPIG and its results of operations for the entire year of 2007 and 2006 and for the period of...
61
10K
5395
1,680
Refer to “Note 6. Fair Value Measurements in our Notes to the Consolidated Financial Statements” for additional information about fair value measurements.
22
10K
RaiffeisenBankInternationalAG-AR_2017
4,477
BUXUS Handels- und Beteiligungs GmbH in Liqu., Vienna (AT) 35,000 EUR 100.0% OT
13
annual_report