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3261
1,432
The Company, in common with the insurance and reinsurance industry in general, is subject to litigation and arbitration in the normal course of its business operations. While the outcome of the litigation cannot be predicted with certainty, the Company is disputing and will continue to dispute all allegations that mana...
71
10K
NatixisSA-AR_2011
3,072
The increase in exposure at risk in 2011 refl ects the rise in “Banks and investment fi rms” exposure, which is primarily attributable to short-term deposits with Groupe BPCE, offset by a decrease in exposure to “Securitization” and “Sovereigns”. The drop in
42
annual_report
1948
874
Pursuant to a loan and security agreement with an effective date of December 31, 2001 and a funded date of January 3, 2002, Possible Dreams entered into a new financing facility with LaSalle Business Credit, Inc. that provides for a $12,700 revolving line of credit. Amounts drawn on this line of credit bear interest at...
102
10K
NatixisSA-AR_2016
2,356
Laurent Mignon’s gross annual fixed compensation in respect of his office as CEO has remained unchanged since he took office.
20
annual_report
BeazleyPLC-AR_2017
246
We would generally expect to experience some level of volatility between individual divisions, however, we are pleased that our overall premium retention rate remains broadly in line with our five year average.
32
annual_report
nl_ing_grp-AR_2014
1,868
(1) As per 1 January 2013 new VAT legislation was implemented based on which the Dutch SB members qualify as VAT taxable persons and are obliged to charge 21% VAT to ING on their remuneration.
35
annual_report
SwissReAG-AR_1996
195
In the key m otor line, which comprises approximately 40% of total business, lower accident frequencies and another drop in vehicle thefts provided satis­ factory results. The trend to ever higher compensation for severe bodily injuries is, however, cause for concern.
41
annual_report
AdmiralGroupPLC-AR_2019
836
Alongside this rapid progress on many fronts, some data points were stubbornly stable. The number of consecutive years amongst the top performers in the “Best Places To Work” only nudged up from 19 years to 20.
36
annual_report
DirectLineInsuranceGroupPLC-AR_2015
690
Where the Board believes the Group has capital that is surplus to requirements, it looks to return it to shareholders.
20
annual_report
5839
1,103
•Fixed maturity securities including hard-to-value fixed maturity securities, as described above.
11
10K
StandardLifeAberdeenPLC-AR_2016
2,013
Our audit work in respect of actuarial assumptions in respect of life insurance contract liabilities included:  Assessing the key changes in the assumptions against regulatory and reporting requirements and industry standards
32
annual_report
SwissReAG-AR_2012
2,673
Diluted earnings per share Net income assuming debt conversion and exercise of options 2 638 4 123 Weighted average common shares outstanding 352 202 053 372 719 088 Net income per share in USD 7.49 11.06 Net income per share in CHF2 6.63 10.39 1 Please refer to Note 7 “Debt and contingent capital instrume...
78
annual_report
5410
1,565
Reclassification adjustments from accumulated other comprehensive income are included in Other expense/(income), net in the accompanying consolidated statements of comprehensive income. See Note 9 - Derivative Financial Instruments for additional details regarding the reclassification adjustments for the hedge settleme...
39
10K
ch_zurich_insurance_group-AR_2007
398
The Articles of Incorporation do not provide for any limitations on transferability except for formalities for the transfer of undocumented shares.
21
annual_report
4280
1,779
Form of Stock Option Agreement for Directors (incorporated by reference to exhibit 10.26 to the registrant’s quarterly report on Form 10-Q for the quarter ended June 30, 2003, filed on August 14, 2003 (File No. 001-13664)).
36
10K
2566
1,039
Other operating expenses in the specialty insurance segment were $161.0 million, $94.7 million and $27.8 million in 2004, 2003 and 2002, respectively and are consistent with our increases in revenues.
30
10K
127
666
In March, June, September and December 1994, the Company's Board of Directors announced a quarterly Common Stock dividend of $.0375 per share, for a total of 15 cents per share to be paid for 1994.
35
10K
NatwestGroupPLC-AR_2008
1,928
Annual audit services include all services detailed in the annual engagement letter including the annual audit and interim reviews (including US reporting requirements), periodic profit verifications and reports to regulators including skilled persons reports commissioned by the Financial Services Authority (e.g. Repor...
44
annual_report
3427
889
At December 31, 2007, our general liability line of business had recorded reserves, net of reinsurance of $815 million, which represented 35% of our total net reserves. This line of business includes umbrella policies which provide additional limits above underlying automobile and general liability coverages. While fav...
158
10K
PhoenixGroupHoldingsPLC-AR_2014
2,807
Dividends received 94 58 Interest received on loans and receivables due from Group entities 48 49
16
annual_report
BaloiseHoldingLtd-AR_2006
1,418
Internal organization Functions of the Board of Directors Subject to the decision-making authority of the shareholders at the General Meeting, the
21
annual_report
SwissReAG-AR_1951
25
Interest, after deduction of interest due to Life Department . . 18,424,872 58 1,417,312,465 81
15
annual_report
3648
4,095
In June 2008, the Environmental Protection Agency issued a Notice of Violation (“NOV”) regarding the operations of the Homer City Generating Station, an electrical generation facility. The NOV alleges, among other things, that the electrical generation facility is being operated in violation of certain federal and stat...
137
10K
3021
2,773
Derivative Actions - Southern District of New York. Between October 25, 2004 and July 14, 2005, seven separate derivative actions were filed in the Southern District of New York, five of which were consolidated into a single action. The New York derivative complaint contains nearly the same types of allegations made in...
231
10K
ScorSE-AR_2012
3,150
The following tables set forth the Group’s gross written premiums by geographic region as well as certain assets and liabilities for the financial years ended 31 December 2012, 2011, and 2010.
31
annual_report
SwissReAG-AR_2004
340
In July 2003, the Group entered into one private placement structure. The transaction amounted to NZD 400 million with a maturity of 10 years and a coupon of 7.84%. Interest is payable monthly.
33
annual_report
RSAInsuranceGroupPLC-AR_2019
3,680
Notes to the statement of financial position continued 38) Post-employment benefits and obligations continued All schemes The estimated discounted present values of the accumulated obligations are calculated in accordance with the advice of independent, qualified actuaries.
36
annual_report
ScorSE-AR_2011
1,607
Executive Officer of Total Exploration Production, then Chairman and Chief Executive Officer of Technip SA from
16
annual_report
4051
1,737
Premiums and other considerations increased primarily due to growth in new business related to life insurance products in Japan and Korea, as well as group credit life sales in Europe. Net investment income declined in 2008 compared to 2007 largely due to policyholder trading losses of $6.8 billion in 2008 compared to ...
106
10K
gb_prudential-AR_2017
2,805
B4 Tax charge 196 B5 Earnings per share 201 B6 Dividends 202
12
annual_report
INGGroepNV-AR_2013
3,295
Level 1 – (Unadjusted) quoted prices in active markets This category includes financial instruments whose fair value is determined directly by reference to published quotes in an active market that ING Group can access. A financial instrument is regarded as quoted in an active market if quoted prices are readily and re...
88
annual_report
4225
3,310
AIG's valuation methodologies for the super senior credit default swap portfolio have evolved over time in response to market conditions and the availability of market observable information. AIG has sought to calibrate the methodologies to available market information and to review the assumptions of the methodologies...
50
10K
gb_prudential-AR_2019
3,493
Net increase (decrease) in equity 6 123 (8,242) 2,943 2,679 (2,491) 169 (2,322) Balance at beginning of year 166 2,502 21,817 (2,050) (467) 21,968 23 21,991
26
annual_report
RSAInsuranceGroupPLC-AR_2020
2,149
· Valuation of insurance contract liabilities: the assumptions used in the estimation of the eventual outcome of the claim events that have occurred but remain unsettled at the end of the reporting period. Covid-19 has increased the level of estimation uncertainty with key assumptions impacted, such as frequency, sever...
216
annual_report
AvivaPLC-AR_2001
427
Employees are encouraged to have their say on how they view the Company and their employment through confidential staff opinion surveys. Results are fed back to staff and, where appropriate, action plans are put in place to address key issues. Through their participation, staff can help to shape future employment devel...
62
annual_report
de_allianz-AR_2014
369
2. Since the last Declaration of Conformity as of December 12, 2013 and its amendment in March 2014, all recommendations of the Code Commission in the version of May 13, 2013 were complied with except for the above mentioned deviation as well as the deviation declared in March 2014. In deviation from Item 5.4.5 para. 1...
111
annual_report
INGGroepNV-AR_2018
5,386
FI-FM Risk Management Framework defines policies and procedures for the overall management of trading books. Trading activity is systematically reviewed and positions against the mandates are assessed jointly by the first and second lines of defence.
36
annual_report
5350
1,023
The following table presents the amounts due from reinsurers as of December 31, 2017:
14
10K
3456
605
Earnings from operations in 2006 of $809 million increased $235 million, or 41%, over 2005. OptumHealth operating margin was 18.6% in 2006, up from 18.4% in 2005. Realized improvements in operating cost structure and benefits from the integration of PacifiCare specialty operations in 2006 were partially offset by a bus...
58
10K
2846
935
In December 2004, the FASB issued FAS No. 123 (revised 2004), “Share-Based Payment” (“FAS 123R”). FAS 123R is effective January 1, 2006 and replaces FAS No. 123, “Accounting for Stock-Based Compensation” (“FAS 123”) and supersedes APB Opinion No. 25, “Accounting for Stock Issued to Employees” (“APB 25”). As permitted b...
340
10K
4267
943
Interest on the debentures that would have been payable on the scheduled interest payment dates of April 1, 2009, October 1, 2009 and April 1, 2010 had been deferred for up to 10 years past the scheduled payment date. During this deferral period the deferred interest continued to accrue and compound semi-annually at an...
58
10K
PhoenixGroupHoldingsPLC-AR_2018
4,379
17. EVENTS AFTER THE REPORTING PERIOD Details of events after the reporting date are included in note I8 to the consolidated financial statements.
23
annual_report
5319
1,972
Our consolidated financial statements are prepared in accordance with GAAP and include the accounts of all wholly-owned subsidiaries. All intercompany accounts and transactions, including intercompany profits and losses, have been eliminated. Certain prior period amounts have been reclassified to conform to current per...
151
10K
PosteItalianeSpA-AR_2020
2,961
Poste Italiane considers respect for individuals and their professional development to be essential values and is aware that the relational, intellectual, organisational and technical skills of each employee represent a strategic resource for the Group. The Company promotes the dissemination of an inclusive business cu...
83
annual_report
gb_lloyds_banking_grp-AR_2005
490
The Group has seven sub operational risk types: governance risk, legal and regulatory risk, customer treatment risk, process and resource risk, theft, fraud and other criminal acts risk, people risk and change-related risk each of which is described in further detail below.
42
annual_report
2391
2,295
The following is a summary of geographic region activity as of and for the years ended December 31, 2004, 2003 and 2002.
22
10K
NatixisSA-AR_2002
3,422
Pension expenses (7.56) (5.70) Other social security expenses (31.47) (30.74) Contractual and regulatory profit sharing (7.14) (7.20) Taxes and equivalent payroll expenses (14.66) (10.48) Allocations to and releases from pension provisions (0.10) 1.22
33
annual_report
190
515
On November 2, 1994 the James L. Miniter Agency, Inc. ("Agent") filed a lawsuit against Ohio Indemnity alleging that Ohio Indemnity interfered with Agent's broker relationship with a policyholder. The Agent's complaint also alleged that Ohio Indemnity violated Massachusetts Unfair Trade Practices Act which provides for...
146
10K
AegonNV-AR_2016
1,832
Adequate capitalization To calculate its Group Solvency Ratio, Aegon applies a combination of the group consolidation methods available under Solvency II which are the Accounting Consolidation and
27
annual_report
NatwestGroupPLC-AR_2015
3,896
and recommending appropriate responses, including the timely mobilisation of change implementation activities. In doing so, it agrees business or function owners of individual risks; and commissions and reviews impact assessments from customer businesses and functions.
35
annual_report
4839
692
In the normal course of business, disputes with clients occasionally arise concerning whether certain claims are covered under our reinsurance policies. We resolve most coverage disputes through the involvement of our claims department personnel and the appropriate client personnel or through independent outside counse...
93
10K
2525
651
We are in a highly competitive industry. Many of our competitors are more established in the health care industry and have a larger market share and greater financial resources than we do in some markets. In addition,
37
10K
3401
539
stock. The objective of this plan is to provide additional performance incentives to grow Brown & Brown’s pre-tax income in excess of 15% annually. The options are granted at the most recent trading day’s closing market price, and vest over a one-to-10-year period, with a potential acceleration of the vesting period to...
74
10K
AssicurazioniGeneraliSpA-AR_2017
895
The sections of the Risk Report are structured as follows: — Section B, provides a brief description of the risk management system; — Section C presents the Company’s solvency position and key elements of the capital management; — Section D provides an overview of the risk profile of the Company.
50
annual_report
1284
335
Financial Statement Presentation: Vesta Insurance Group, Inc. (Vesta), and subsidiaries (the Company), was incorporated by Torchmark Corporation ("Torchmark") on July 9, 1993 and capitalized on July 16, 1993 with a $50 million contribution from Torchmark and the contribution from Torchmark of all of the outstanding com...
114
10K
5401
609
We consider our actual claims payments and incurred loss experience, including the frequency and severity of claims, compared to our actuarial estimates of claims payments and incurred losses in determining whether our overall loss experience has improved or worsened compared to prior periods. We also consider the impa...
205
10K
TrygAS-AR_2010
1,625
Amortisation for the year 0 -12 -121 -133 Impairment writedowns for the year 0 0 -10 -10 a) Addition on acquisition of subsidiary relates to the acquisition of Moderna Försäkringar, see note 29
33
annual_report
3986
5,217
The Company’s net deferred tax asset of $549.8 million at December 31, 2009 is comprised of gross deferred tax assets and gross deferred tax liabilities. The gross deferred tax assets are primarily related to unrealized investment security losses, actuarial liabilities, and net operating loss (“NOL”) carryforwards, as ...
92
10K
gb_prudential-AR_2013
429
B Improving efficiency – 80 per cent of policies now processed ‘straight through’
13
annual_report
4634
1,639
OCI has prescribed an accounting practice that differs from NAIC SAP. Paragraph 7 of Statement of Statutory Accounting Principles No. 60 “Financial Guaranty Insurance” (“SSAP 60”) allows for a deduction from loss reserves for the time value of money by application of a discount rate equal to the average rate of return ...
81
10K
SwissLifeHoldingAG-AR_2007
2,746
Swiss Life Belgium SA, Bruxelles Ins. Dis. 100.0% 100.0% full EUR 88 074
13
annual_report
4005
1,553
Following Paris Re’s acquisition of substantially all of the reinsurance operations of Colisée Re (previously known as AXA RE), a subsidiary of AXA SA (AXA), in 2006, Paris Re and its subsidiaries entered into an issuance agreement and a quota share retrocession agreement to assume business written by Colisée Re from J...
166
10K
5858
720
The Company has investments in various subsidiaries with Euro functional currencies. As a result, the Company is exposed to the risk of fluctuations between the Euro and U.S. dollar exchange rates. As part of its risk management program to fund the JLT acquisition, the Company issued €1.1 billion Senior Notes, and desi...
80
10K
AvivaPLC-AR_2005
2,787
Pre-tax investment returns: Required Capital (% EU minimum) 150%/ 200%/ 200%/ 115% 115% 115%
14
annual_report
4085
500
It is important to note that all investments included in the Company’s financial statements are valued at current fair market values. The evaluation process for determination of other-than-temporary decline in value of investments does not change these valuations but, rather, determines when a decline in value will be ...
334
10K
ScorSE-AR_2020
2,372
• via the careful consideration of the financial situation of other pool members. This contributes to the application of sound and robust governance.
23
annual_report
StandardLifeAberdeenPLC-AR_2006
613
New business includes new policies written during the period and some increments to existing policies (as discussed below).
18
annual_report
4657
5,681
The fair value of mortgage loans is based on discounted contractual cash flows or, if the loans are impaired due to credit reasons, the fair value of collateral less costs to sell. Risk adjusted discount rates are selected using current rates at which similar loans would be made to borrowers with similar characteristic...
94
10K
5437
314
Property and casualty operations constitute our largest segment composing 90.0% and 89.8% of our total consolidated premium revenue in 2017 and 2016, respectively. Premium revenues and operating income for the P&C segment for the year ended December 31, 2017 and 2016 are summarized below:
44
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2014
845
The environment of the renewal rounds was highly competitive in 2014
11
annual_report
NatixisSA-AR_2015
5,932
Assets at fair value through profi t and loss 233,035 14,488 3,536 3,221 280 254,560
15
annual_report
4432
2,286
In April 2010, the FASB issued ASU No. 2010-15, “How Investments Held through Separate Accounts Affect an Insurer’s Consolidation Analysis of Those Investments” (“ASU 2010-15”), to clarify a consolidation issue for insurance entities that hold a controlling interest in an investment fund either partially or completely ...
175
10K
gb_lloyds_banking_grp-AR_2014
6,333
There were no movements in other reserves in 2014, 2013 or 2012.
12
annual_report
gb_lloyds_banking_grp-AR_2019
2,147
During the year the Committee has increased focus on climate change, sustainability and the potential impact to the Group and impact on our customers.
24
annual_report
HiscoxLtd-AR_2016
37
Our operations span every continent and we are not overly reliant on any one of our divisions for the Group’s overall profits.
22
annual_report
SwissReAG-AR_2020
1,900
Capital As a result of the cancellation of shares repurchased under the share buy-back programme that was completed on 18 February 2020, the fully paid-in share capital of Swiss Re Ltd as of 31 December 2020 amounted to CHF 31 749 730.60. It is divided into 317 497 306 registered shares, each with a par value of CHF 0....
59
annual_report
5006
913
Risk Based Capital (“RBC”) requirements are measures insurance regulators use to evaluate the capital adequacy of American National Insurance Company and its insurance subsidiaries. RBC is calculated using formulas applied to certain financial balances and activities that consider, among other things, risks related to ...
140
10K
AvivaPLC-AR_2002
299
Fund management 5 29 General insurance 881 876 Non-insurance (69) 7 Corporate costs (218) (187) Unallocated interest charges (434) (426) Wealth management (30) (99)
24
annual_report
NatwestGroupPLC-AR_2018
2,319
At 1 January 2017 1,537 1,200 845 31 38 803 1 4,455 Inter segment transfers — — 293 — — (293) — — Currency translation and other adjustments — 8 (7) — — (27) — (26) Repayments and disposals — — — — — (5) — (5)
47
annual_report
4547
524
At December 31, 2012, IBNR loss reserves accounted for $70,321,000, or 17.1 percent, of the property and casualty insurance segment’s total loss and settlement expense reserves, compared to $67,809,000, or 16.1 percent, at December 31, 2011. IBNR loss reserves are, by nature, less precise than case loss reserves. A fiv...
84
10K
5287
1,473
In May of 2016, Boardwalk Pipeline completed a public offering of $550 million aggregate principal amount of 6.0% senior notes due June 1, 2026 and used the proceeds to reduce borrowings under its revolving credit facility.
36
10K
TrygAS-AR_2013
671
Management works with the Board to ensure that the Group’s strategy
11
annual_report
GjensidigeForsikringASA-AR_2015
1,746
Disposals (308.9) (43.3) (352.2) Exchange differences 0.9 8.5 9.4 As at 31 December 2015 42.6 682.1 724.7 Uncompleted projects 27.6 27.6 As at 31 December 2015, including uncompleted projects 42.6 709.6 752.3
32
annual_report
4553
468
Underwriting gains were $289 million in 2010 and consisted of gains of $236 million from property business and $53 million from casualty/workers’ compensation business. The property results included $339 million of catastrophe losses incurred primarily from the Chilean and New Zealand earthquakes and weather related lo...
99
10K
LloydsBankingGroupPLC-AR_2017
616
Return on risk-weighted assets of 2.82 per cent, reflecting proactive portfolio optimisation and increased profit.
15
annual_report
AegonNV-AR_2017
1,756
The UK with-profits business is written in the policyholder-owned fund (otherwise called the ‘with-profits fund’). The funds with the highest guaranteed rates have been closed to premiums since 1999, and all funds have been closed to new business with investment guarantees since October 2002 (except for a small increas...
67
annual_report
4063
567
Our internally managed equity portfolio invests in U.S. large-cap, dividend-paying companies across many different industries selected based upon their potential for appreciation as well as ability to continue paying dividends. This diversification across companies and industries reduces volatility in the value of the ...
89
10K
PowszechnyZakladUbezpieczenSA-AR_2011
991
The certificates of the right to participate in the General Meeting issued by the entity maintaining the securities account shall constitute the basis for that entity to prepare a list, which shall then be sent to the National Depository for Securities (“KDPW”) as the entity maintaining the deposit of the securities.
51
annual_report
gb_lloyds_banking_grp-AR_2008
3,956
Amount charged (credited) to equity: Available-for-sale financial assets (note 43) (566) (1)
12
annual_report
fr_axa-AR_2007
925
Underlying earnings increased by €113 million to €182 million. Excluding Winterthur, underlying earnings increased by €50 million (+73%). Winterthur contribution amounted to €63 million.
24
annual_report
AvivaPLC-AR_2014
1,716
The committee would pay no more than it judged reasonably necessary, in the light of all applicable circumstances.
18
annual_report
TopdanmarkAS-AR_2020
983
Cumulative risk Known cumulative risk is where it has been recognised prior to the event that several policyholders could be affected by the same event. In personal lines, Topdanmark's retention is DKK 15m for the first claim, DKK 5m for the subsequent claims up to a total aggregated amount of DKK 50m. DKK 15m for furt...
114
annual_report
1207
219
Due to the significant cash needs during 1999 to pay claims and fund operations the Company decided to eliminate the distinction between securities held to maturity and securities available for sale. As of year-end, the Company has classified all investment securities as available for sale.
45
10K
5797
1,780
Our general and administrative expense ratio was 3.9% for the year ended December 31, 2018, compared to 4.0% for the year ended December 31, 2017. While the general and administrative expense ratio remained consistent with the prior year, increases in expenses reimbursable to Arch and professional fees were offset by a...
92
10K
gb_prudential-AR_2007
4,158
Prudential is, and may be in the future, subject to legal actions and disputes in the ordinary course of its insurance, investment management and other business operations. These legal actions and disputes may relate to aspects of Prudential’s businesses and operations that are specific to Prudential, or that are commo...
152
annual_report
2742
671
Recoverability of certain assets. In the ordinary course of business, we enter into reinsurance contracts to protect against the impact of large, irregularly-occurring losses, to limit our maximum losses and to support our Program Management and Insurance Services segments. The financial reporting for a contract with a...
141
10K
3712
1,466
The exercise price for stock options issued cannot be less than the fair market value of the underlying common stock as of the grant date. Stock options have a maximum term of ten years after the date of grant and generally vest after three years. At December 31, 2008, approximately 28.72 million shares were available ...
58
10K
SwissReAG-AR_1961
102
Auditors' Report To the General Meeting of the Shareholders of the Swiss Reinsurance Company, Zurich
15
annual_report
AdmiralGroupPLC-AR_2005
840
To consider and, if thought fit, to pass the following resolutions which will be proposed as Special Resolutions:
18
annual_report
4095
2,601
As of December 31, 2009, Prudential Financial, Prudential Insurance and Prudential Funding had unsecured committed lines of credit totaling $4.34 billion. These facilities are available to each of the borrowers, up to the aggregate committed credit, to be used for general corporate purposes. This amount includes a $1.9...
199
10K