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5377
610
Our outlook for 2018 is for continued solid premium growth trends in our core businesses, with stable persistency and a disciplined approach to sales growth. We expect to have generally stable benefits experience due to our focus on disciplined pricing, risk selection, and management of renewals. We will maintain our c...
59
10K
StorebrandASA-AR_2007
2,206
Reinsurance: The company also manages its insurance risk through a variety of reinsurance programs. Through catastrophe reinsurance (excess of loss) the company covers losses (single claims and reserves provision) where a single event causes more than 3 deaths or disability. This cover is also subject to an upper limit...
150
annual_report
AdmiralGroupPLC-AR_2018
2,487
Transfers from Stage 3 to Stage 2 – – – – –
12
annual_report
ASRNederlandNV-AR_2015
604
Maintain its strong distribution network and focus on customer satisfaction a.s.r. offers funeral insurance through both the direct and intermediary channels. These channels are supported by a dedicated sales force that services all distribution channels by visits, telephone and the internet. Under the Ardanta brand a....
193
annual_report
ScorSE-AR_2020
1,663
The Board of Directors has decided that, in the event of the appointment of a new Chief Executive Officer, the conditions of his/her severance pay will not be more favorable than those currently in force.
35
annual_report
Sampoplc-AR_2007
1,458
Reserves for annuities in Finland, Sweden and Denmark are discounted, and potential changes in the discount rates will aff ect the level of technical provisions. The discount rates vary between countries mainly due to diff erences in legislation. On 31 December, 2007 the total amount of discounted provisions is eur 1,7...
52
annual_report
5096
1,722
All of the Company’s U.S. domiciled insurance subsidiaries are party to an intercompany pooling agreement that distributes the net underwriting results among the group companies based on their approximate level of statutory capital and surplus. Additionally, each of the Company’s U.S. domiciled insurance subsidiaries i...
104
10K
4608
703
Intangible assets at December 31, 2012 and 2011 consist of the following (in thousands):
14
10K
RaiffeisenBankInternationalAG-AR_2006
527
In the process of transforming the leasing area of Raiffeisen International, which started in 2006, we placed special importance on closely connecting the local leasing companies with the respective network banks. The leasing companies’ risk management units were put under a functional reporting line to the risk manage...
86
annual_report
AegonNV-AR_2019
173
We are also running a number of projects at business-unit level to further streamline our operations. These projects create opportunities to inspire new business ideas, leading to better service for our existing customers and opening of new markets.
38
annual_report
SwissLifeHoldingAG-AR_2007
232
One of the company’s forward-looking product innovations is Swiss Life VitalityPlus: a unitlinked insurance financed by periodic premiums which offers policyholders the option to waive death coverage in order to receive higher savings premiums. It is available as both a tax-qualified (pillar 3a) or non tax-qualified (p...
86
annual_report
gb_prudential-AR_2017
4,199
Jackson hedges these risks using derivative instruments as described in note C7.3.
12
annual_report
AdmiralGroupPLC-AR_2008
252
The price comparison industry in the UK has attracted a lot of attention from a number of parties over the past year or two, including a review by the FSA. Confused contributed willingly to the review and actively responded to the issues raised by the regulator during its course.
49
annual_report
gb_lloyds_banking_grp-AR_2015
5,233
Lead manager or broker quote/consensus pricing n/a 55 – – – – –
13
annual_report
1688
385
Loss from discontinued operations, net of taxes and loss on sale of discontinued operations, net of taxes, totaled $0.6 million and $10.1 million, respectively in 2001 compared to loss from discontinued operations, net of taxes and loss on sale of discontinued operations, net of taxes of $58.8 million and $39.3 million...
146
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2004
1,936
The table below shows the provisions for outstanding claims in property-casualty business for the primary insurers and reinsurers for the last ten years. This covers virtually 100% of the total claims provisions of the Group. What the table considers is not the run-off of the provisions for individual accident years, b...
114
annual_report
PosteItalianeSpA-AR_2018
6,221
Stage 1 Stage 2 Stage 1 Stage 2 Stage 1 Stage 2 Stage 3
14
annual_report
265
222
EXTRAORDINARY ITEM. In order to reduce interest expense incurred and interest rates paid, the Company prepaid the Senior Secured Notes (the "Senior Notes") issued in March 1993. Pursuant to the terms and conditions of the Senior Note Agreement, the Company provided for the Make Whole Provision, as defined, and related ...
81
10K
ASRNederlandNV-AR_2016
882
Incentive plans, STA & sports The a.s.r. Foundation’s activities can be broken down into three main groups. • Incentive plans
20
annual_report
gb_prudential-AR_2014
3,705
Credit risk Interest rates for those operations where the basis of insurance liabilities is sensitive to current market movements
19
annual_report
de_allianz-AR_2015
596
than 9,000 products have been sold by year-end 2015. Overall, less than one third of total new business in life came from traditional products.
24
annual_report
fr_axa-AR_2001
1,880
Other technical items deteriorated by €998 million as a result of the following: • Four major losses adversely impacted 2001 with a total estimated cost net of reinsurance of €991 million: (i) the September 11, 2001 U.S. terrorist attacks with an estimated cost net of reinsurance of €761 million
49
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2008
1,570
Premium of the Munich Re Group If exchange rates remain stable compared with those at the end of 2008, we expect gross premiums written in reinsurance and primary insurance in 2009 to be in the range of €37.5–39.5bn (total consolidated premium). In view of the continued upheaval in the financial markets and the severe ...
63
annual_report
SwissReAG-AR_1989
149
Nuciear Energy reinsurance also showed a drop in pre­ mium income as a result of increased retentions and a lack of new business. - Despite a major non-nuclear fire loss a satisfactory result was achieved.
35
annual_report
5034
1,141
changes in general economic conditions, including new or continued sovereign debt concerns in Euro-Zone countries or emerging markets such as Brazil or China, or governmental actions for the purpose of stabilizing financial markets;
33
10K
NatixisSA-AR_2015
3,526
In 2007 the judge accepted all aspects of the Harris Associates L.P. motion and rejected the motion of the plaintiffs, who appealed the decision. In 2008 a panel of judges from the Court of Appeals for the Seventh Circuit upheld the ruling of the District Court in favor of Harris Associates L.P. The plaintiffs then (i)...
101
annual_report
4227
941
In Georgia, gross written premium was down 25.1% for the twelve months. This decline is primarily a result of rate increases intended to improve profitability in the state.
28
10K
5807
1,227
use of interest rate swaps when we have duration mismatches where suitable assets with maturities similar to those of our long-dated liabilities are not readily available in the market and use of interest rate forwards hedging reinvestment risk from maturing assets with higher yields than currently available in the mar...
54
10K
nl_ing_grp-AR_2019
3,088
As per December 2019, Wholesale Banking forborne assets amounted to EUR 4.6 billion, which represented 1.7% of the total Wholesale Banking portfolio.
22
annual_report
279
461
meet its obligations, those obligations are the ultimate responsibility of the Company. Therefore, in financial statement presentation, premiums and policy benefits are presented net of that portion of risks reinsured with other companies.
33
10K
HiscoxLtd-AR_2020
323
The successful reorganisation of the Special Risks business was completed in the fourth quarter of 2020 and as a result Special Risks ceased to exist as a stand-alone unit from 1 January 2021. The Group’s financial reporting in 2021 will reflect this change, resulting in $100 million of premium from the Retail segment ...
60
annual_report
302
82
The Corporate and Other segment consists of several small insurance lines of business, net investment income and other operating expenses not identified with the preceding business segments (including interest on substantially all debt). Pretax losses for this segment were $4.1 million lower in 1996 as compared to 1995...
57
10K
4803
1,193
(1) Contract charges related to the cost of insurance totaled $714 million, $685 million and $648 million in 2013, 2012 and 2011, respectively.
23
10K
NatixisSA-AR_2018
260
Drawing on its expertise in arranging, structuring and distributing Specialized Financing in these markets, including commercial loans, portfolio financing, financing with export cover and optimized loans (JOL, JOLCO, French lease, etc.), Natixis is developing a comprehensive investment banking, advisory (M&A, ratings)...
81
annual_report
ScorSE-AR_2016
397
Gross written premiums for the financial year ended December 31, 2015 amounted to EUR 13,421 million, an increase of 18.6% compared to EUR 11,316 million in 2014. The overall increase in gross written premiums of EUR 2,105 million in 2015 was due to an increase for SCOR Global P&C of EUR 788 million and EUR 1,317 milli...
61
annual_report
4756
3,409
The following table shows the activity presented in our consolidated statement of income related to the consolidated securitization entities for the years ended December 31:
25
10K
5592
1,274
The Fair Value Measurement Topic of the ASC establishes a framework for measuring fair value and disclosures about fair value measurements.
21
10K
4058
396
recorded a reduction of approximately $5,400,000 in recognition of positive development recorded as a result of updating the estimated liability for unpaid loss and loss adjustment expenses on the finalization of the Commutation Agreement with CNA, and the recovery from VSC.
41
10K
4408
1,582
The Company’s investment assets do not include separate account assets. Additional information regarding the Company’s investment assets and related accounting policies is included in Notes 2, 10, 11, 12, 13, 14 and 17 to the Consolidated Financial Statements.
38
10K
TrygAS-AR_2004
1,197
TrygVesta has decided to provide the additional information required by IFRS, enhancing the level of detail for certain items.
19
annual_report
ch_zurich_insurance_group-AR_2008
1,620
Debt securities: Fair value through profi t or loss 16,319 6.3 18,954 6.0
13
annual_report
3162
315
The table below sets forth the amounts of the Company's contractual obligations at December 31, 2006.
16
10K
PhoenixGroupHoldingsPLC-AR_2010
1,468
Actual return less expected return on scheme assets 19 36 Experience gains arising on scheme liabilities 70 58 Loss due to changes in assumptions underlying scheme liabilities (51) (65)
29
annual_report
629
123
Total liabilities at December 31, 1997 were $2,106.0 million, representing an increase of $349.2 million, or 19.9%, from $1,756.8 million at December 31, 1996. As with assets, most of this growth occurred in the separate investment accounts as discussed above.
40
10K
4917
8,163
• Separate account assets: Comprise actively traded mutual funds that have daily quoted net asset values for identical assets that the Company can access. Net asset values for the actively traded mutual funds in which the separate account assets are invested are obtained daily from the fund managers.
48
10K
4601
1,432
Commission Revenue-For individual and family, Medicare Supplement, small business and ancillary plans, our compensation generally represents a percentage of the premium amount collected by the carrier during the period that a member maintains coverage under a policy (commissions) and, to a much lesser extent, override ...
223
10K
PowszechnyZakladUbezpieczenSA-AR_2017
1,894
The following are subject to monitoring: • exposures to financial insurance; • exposures to reinsurance; • exposure limits and VaR limits.
21
annual_report
4381
1,036
In connection with the acquisition of Chaucer, we entered into a foreign exchange forward contract, which was settled in July 2011 at a loss of $11.3 million. See “Investments” on pages 59 to 64 of this Form 10-K. The loss on the contract was offset by the lower U.S. dollars required to meet the GBP based purchase pric...
132
10K
NatwestGroupPLC-AR_2010
2,795
Penny Hughes* (age 51) N, R (Chair) Penny Hughes joined the Board on 1 January 2010 and is currently a non-executive director of Home Retail Group plc, Cable & Wireless Worldwide plc and Wm Morrison Supermarkets plc. She is a former non-executive director of Gap Inc, Vodafone PLC and Reuters PLC. Penny chairs the Remun...
128
annual_report
2594
690
Pension Plans and Other Postretirement Benefits. The Company sponsors a qualified defined benefit pension plan covering substantially all full-time employees and a nonqualified defined benefit plan primarily for senior officers. In addition, the Company also has postretirement health care benefits for certain senior of...
56
10K
5933
905
For the model related to the warranty administrative services performance obligation, the Company makes judgments about which of its actual costs are associated with enrolling each home sold by the builder into the program and the warranty administrative system and delivering the warranty product. For the model related...
142
10K
gb_prudential-AR_2007
3,073
Reclassification from held for investment – 120 – 120 – 120 Reclassification from held for sale – 8 – 8 – 8
22
annual_report
3243
2,518
VOBA reflects the estimated fair value of in-force contracts acquired and represents the portion of the purchase price that is allocated to the value of the right to receive future cash flows from the life insurance and annuity
38
10K
StorebrandASA-AR_2020
1,239
In our active ownership, we prioritised four topics in 2020: Decarbonization of companies Our climate change policy aims to reduce investment exposure to climate risk. We are part of several global collaborations where we have a leading role in engaging with companies that are top carbon emitters. With the decision to ...
89
annual_report
5378
1,403
On February 21, 2018, FNIC closed on its acquisition of the interest in Monarch Delaware held by the Company's joint venture partners for the agreed upon terms contemplated by the purchase and sale agreement with Crosswinds Investor and TransRe dated November 27, 2017. FNIC purchased Crosswinds Investor’s 42.4% Class A...
113
10K
5713
2,713
Sources of Currency Risk The Company has foreign currency exchange risk in non-U.S. dollar denominated cash, fixed maturities, equities, and derivative instruments. In addition, the Company has non-U.S. subsidiaries, some with functional currencies other than U.S. dollar, and which transact business in multiple currenc...
53
10K
2945
1,439
For the years ended December 31, 2005 and 2004, the Company recognized realized gains related to derivative financial instruments of $1.5 and $0.7, respectively. There were no realized gains or losses on derivative financial instruments for the years ended December 31, 2003.
42
10K
4913
1,931
In the first nine months of 2012, as required under the terms of a previous senior secured credit agreement, we made mandatory prepayments of $31.4 million due to repurchases of our common stock and payment of a common stock dividend.
40
10K
de_allianz-AR_2010
2,119
Investment contracts with policyholders Fair values for investment and annuity contracts are determined using the cash surrender values of policyholders ’ and contract holders’ account balances.
26
annual_report
HannoverRueckSE-AR_2003
38
Dr. Klaus Sturany 1) Member of the Executive Board Essen RWE Aktiengesellschaft
12
annual_report
ScorSE-AR_2017
2,630
Share of retrocessionaires in insurance and investment contract liabilities - - - - - - 6
16
annual_report
5207
1,306
Consolidated income taxes resulted in a benefit of $6.3 million. The tax benefit primarily results from the net effect of the following:
22
10K
SwissReAG-AR_2014
2,612
Paid related to: Current year –2 103 –2 193 Prior year –9 265 –8 693
15
annual_report
2838
673
For investments with unrealized losses due to market conditions or industry-related events, where the Company has the positive intent and ability to hold the investment for a period of time sufficient to allow a market recovery or to maturity, declines in value below cost are not assumed to be other-than-temporary. Whe...
103
10K
3815
3,501
The primary investment objective of Life’s general account is to maximize economic value within acceptable risk parameters, including the management of the interest rate sensitivity of invested assets, while generating sufficient after-tax income to support policyholder and corporate obligations, as discussed in the Ca...
56
10K
4160
495
The increase in revenues is largely attributable to new business acquired by FSC and increased investment holdings and the gain on sales of investments of FSC. The decrease in expenses is attributable to decreased general and administrative expense related to reduction in professional legal fees incurred in the Company...
67
10K
HiscoxLtd-AR_2007
398
Regulation TheGroup’s entities are incorporated and transact business in a variety of countries and states, all of which require strong levels of accountability to the local regulatory authorities.
28
annual_report
INGGroepNV-AR_2019
2,344
The ex ante and/or ex post risk adjustments require Supervisory Board approval, taking into account the input of the Risk and Finance functions and the advice of the Risk and Remuneration
31
annual_report
2913
164
As of December 31, 2004, USFL recaptured all of the term life policies that had previously been assumed by MLOA under this MODCO agreement. Other income for the six months ended December 31, 2004 reflects the resulting pre-tax gains on the recaptures of the term life reinsurance from USFL of $9.0 million ($5.9 million ...
58
10K
4449
359
The Company accounts for stock-based compensation under the provisions of ASC Topic 718, Compensation-Stock Compensation (“ASC 718”), which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair value on the grant date. Service...
81
10K
StandardLifeAberdeenPLC-AR_2018
3,306
Quantitative credit risk disclosures are not provided in respect of the assets of the unit linked funds since the shareholder is not directly exposed to credit risk from these assets.
30
annual_report
CNPAssurancesSA-AR_2016
56
Jean-Charles Samuelian The people who joined Alan did not just want to create yet another start-up. They came aboard because we have a long-term vision of setting up a company that would have a very major impact on extremely complex sectors in which users’ needs are poorly met. And that’s what gets us up in the morning...
114
annual_report
3949
479
The Company has designated approximately $41,474,000 and $40,638,000 of retained earnings as of December 31, 2009 and 2008, respectively, as appropriated to reflect the required statutory premium reserve. See Note 8 for the tax treatment of the statutory premium reserve.
40
10K
LloydsBankingGroupPLC-AR_2009
6,456
Equity investments Various valuation techniques Earnings, net asset value, underlying asset values, property prices, forecast cash fl ows 1,867 n/a
20
annual_report
3663
645
In the independent agency distribution channel and the unaffiliated underwriting agency distribution channel, the effect of competitive conditions is the same as in our owned retail store distribution channel. As in our retail stores, independent agents (either working directly with us or through unaffiliated underwrit...
118
10K
HelvetiaHoldingAG-AR_2019
2,128
A “reasonable possible change” in the risk factors affecting the sensitivity analysis is defined as every symmetrical bracket that covers a range of possible exchange rate changes where the probability of it occurring over a period of one year is between 10 % and 90 %. Sensitivities are shown for the borders of the cho...
60
annual_report
AdmiralGroupPLC-AR_2019
1,213
It was a year of fast growth despite unfavourable market conditions. Our portfolio increased by 32%, while at the same time the aggregator market (our main acquisition channel) was shrinking. We're pleased to see our efforts on brand awareness, direct acquisition, and conversion showing progress and paving the way for ...
56
annual_report
gb_prudential-AR_2015
4,344
Total net effect on shareholders’ equity 904 607 (750) (1,331) 1,027 633 (760) (1,367)
14
annual_report
nl_ing_grp-AR_2016
5,728
Risk position changes were also reflected in the 10 day VaR and 10 day Stressed VaR statistics. Compared to 10 day VaR in 2015, in 2016 position changes led to lower average, the wider range between a maximum and a minimum and a lower 10 day VaR at yearend. For 10 day Stressed VaR the average was stable compared to the...
88
annual_report
4462
1,110
In the ordinary course of business, we are involved in various pending and threatened litigation matters related to our operations, some of which include claims for punitive or exemplary damages. This customary litigation includes but is not limited to a wide variety of cases arising out of or related to title and escr...
112
10K
4586
1,081
Level 3 other liabilities include an embedded derivative related to the make-whole redemption feature of our unaffiliated Senior Notes. Fair value was determined using a discounted cash flow valuation analysis based on applicable U.S. Treasury rates and make-whole spread.
39
10K
3904
164
- For operations: premiums and deposits, benefit and investment spread, amortization of deferred policy acquisition costs, expenses, operating income, net income, invested assets, and new business returns; - For investments: credit quality/experience, realized capital gains and losses, investment income, unrealized cap...
75
10K
4684
882
The Company files income tax returns in the U.S. federal jurisdiction and various state and U.S. territory jurisdictions. With limited exceptions, the Company is no longer subject to U.S. federal or state income tax examination for years before 2010.
39
10K
4032
1,911
(3) Represents consolidated debt issued by the NIMS VIE that required consolidation upon our becoming the primary beneficiary of the VIE.
21
10K
fr_axa-AR_2011
11,695
Total absenteeism rate (non sales and sales force, open-ended contract only) 4.8 % -3.1% 4.9 %
16
annual_report
5755
969
(2)Excludes non-investment related foreign exchange gains for the years ended December 31, 2019, 2018, and 2017 of $7.7 million, $22.7 million, and $9.2 million, respectively.
25
10K
4523
2,405
Operational risk is inherent in each of our business units and corporate functions. It may extend beyond financial losses, including errors, fraudulent acts, business interruptions, inappropriate behavior of employees, or vendors that do not perform in accordance with agreed upon terms.
41
10K
490
659
Investments valued at $230 million at December 31, 1996 were carried on deposit with various state insurance departments.
18
10K
911
416
The Company does not commit a significant portion of its investment portfolio to equity securities; consequently, liquidity is not significantly affected by changes in the equity securities markets. At December 31, 1998, equity securities represented 5.1% of ABIG's total invested assets.
41
10K
2769
1,294
In the fourth quarter of 2005, we refined our mark-to-market model to use actual credit spreads by individual name, when available as discussed above, as compared to our previous version of the model, which used average spreads for similarly rated names. While application of the new model resulted in minimal changes fo...
166
10K
3771
1,584
As of December 31, 2008, there were no loans outstanding under Diamond Offshore’s $285 million credit facility; however, $58 million in letters of credit were issued and outstanding under the credit facility.
32
10K
3082
1,282
We continue to focus on our Income Distribution Series of variable annuity products and riders. We have witnessed a decline in defined benefit retirement plans in favor of defined contribution plans with more of the responsibility for retirement income planning falling on the individual. Additionally, U.S. savings rate...
111
10K
HannoverRueckSE-AR_2011
2,858
In marine business we anticipate a sharply enlarged premium volume for the current financial year. In view of the loss events incurred in 2010 in the offshore energy sector, it was pos­
32
annual_report
BeazleyPLC-AR_2015
905
The board The board consists of a non-executive chairman, Dennis Holt, together with five independent non-executive directors, of whom George Blunden is the senior independent non-executive director, and five executive directors, of whom Andrew Horton is chief executive. The non-executive directors, who have been appoi...
74
annual_report
3070
419
The following is a distribution in U.S. Dollars of funding agreements (non-putable) by currency at December 31. All foreign currency denominated funding agreements have been swapped to U.S. Dollars.
29
10K
5824
3,362
Assets and liabilities carried at fair value include substantially all of the investment portfolio, and derivative instruments, both exchange-traded and over the counter instruments. Valuation of assets and liabilities measured at fair value require management to make estimates and apply judgment to matters that may ca...
109
10K
554
225
As a result of the continued escalation of health care costs and the inability of many individuals to obtain health care insurance, numerous proposals relating to health care reform have been or may be introduced in the United States Congress and state legislatures. Any proposals affecting underwriting practices, limit...
93
10K
2254
669
Of the $769,000 gross unrealized losses at December 31, 2003, none was included in our potentially distressed securities list mentioned above.
21
10K
3884
791
In September 2006, the FASB issued Statement No. 157, Fair Value Measurements (“SFAS 157”), which defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. This statement applies under other accounting pronouncements that require or permit fair v...
134
10K
5026
1,477
Net premiums earned attributable to foreign countries and long-lived assets located in foreign countries were immaterial for the periods presented.
20
10K