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NatwestGroupPLC-AR_2010
47
Archie Hunter left the Board at the 2010 AGM after six years and I would like to thank him for his work as a director and Chair of the Audit Committee. The commitment he provided during a time of major changes on the Board was very professional and valuable.
49
annual_report
2524
1,282
assessment includes the reasons for the impairment, the severity and duration of the impairment, changes in value subsequent to year-end, and forecasted performance of the investment.
26
10K
ScorSE-AR_2019
3,089
Operating lease contracts commitments SCOR Services Switzerland entered into an agreement in July 2016 to rent a new building in Zurich. The minimum duration has been fixed to 10 years representing a total commitment of EUR 76 million (CHF 83 million). The expected starting date is May 2020. The right-of-use asset and ...
62
annual_report
gb_prudential-AR_2008
4,643
The scrip reference price is calculated as the average of the middle market quotations for the Company’s shares as derived from the Daily Official List of the London Stock Exchange for the five business days commencing on 8 April 2009.
40
annual_report
GjensidigeForsikringASA-AR_2019
725
Customer complaints The Financial Services Complaints Board received 259 complaints from Gjensidige customers in the first nine months of the year. This accounted for approximately 9 per cent of the complaints received by the Board. The corresponding figure for the same period in 2018 was 297 complaints, or 12 per cent...
70
annual_report
1179
446
Interest rate changes also may have temporary effects on the sale and profitability of the universal life and annuity products offered by the Company. For example, if interest rates rise, competing investments (such as annuity or life insurance products offered by the Company's competitors, certificates of deposit, mut...
268
10K
1820
280
The Company's statements of cash flows for the years ended December 31, 2001, 2000 and 1999 are summarized below:
19
10K
2665
5,718
The continued threat of terrorism, both within the United States and abroad, and ongoing military and other actions and heightened security measures in response to these types of threats, may cause significant volatility and declines in the equity markets and with interest rates in the United States, Europe and elsewhe...
125
10K
2077
366
NOTE M - CONCENTRATIONS OF CREDIT RISK The Company writes policies of excess insurance attaching above a self-insured retention, ("SIR") and also writes policies that contain large, per-claim deductibles. Those losses and claims that fall within the SIR or deductible are obligations of the insured. The company also wri...
135
10K
4851
3,592
Fiscal years ended March 31, 2009-2013 and the period ended December 31, 2013
13
10K
5920
2,084
Our (re)insurance subsidiaries prepare their statutory financial statements in accordance with statutory accounting practices prescribed or permitted by local regulators. Statutory and local accounting differs from U.S. GAAP, including in the treatment of investments, acquisition costs and deferred income taxes, amongs...
43
10K
797
450
The consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation except for transactions between the Company's continuing operations subsidiaries and the discontinued operations...
67
10K
PowszechnyZakladUbezpieczenSA-AR_2012
337
Distribution of Armatura Group products, administration and management of the Group.
11
annual_report
2924
1,691
These and other regulatory examinations or investigations could result in, among other things, changes in business practices, including changes in broker compensation and related disclosure practices, changes in the use and oversight of finite reinsurance, changes in governance and other oversight procedures, fines, an...
93
10K
5933
1,096
The agreements governing the subordinated debt contain a number of covenants that, among other things, restrict the Company’s ability to incur additional indebtedness, make dividends and distributions, and make certain payments in respect of the Company’s outstanding securities.
38
10K
SwissReAG-AR_2013
1,229
Registered shareholders by type as of 31 december 2013 73.1% Institutional shareholders 23.6% Individual shareholders 3.3% Swiss Re employees
19
annual_report
386
381
Life benefits, net of reinsurance benefits and claims, decreased 4% compared to 1994. The decrease is related to the decrease in first year premium production. Another factor that has caused life benefits to decrease is that during 1994, the Company lowered its crediting rates on interest sensitive products in response...
104
10K
ScorSE-AR_2012
3,047
In Life business, policy linked liabilities include mathematical reserves, unearned premium reserves and claim reserves.
15
annual_report
5173
1,034
Premium revenues are recognized in the period in which eligible individuals are entitled to receive health care benefits. Health care premium payments received from the Company’s customers in advance of the service period are recorded as unearned revenues. Fully insured commercial products of U.S. health plans, Medicar...
138
10K
fr_axa-AR_2011
9,765
Resolutions submitted to the Shareholders’ Meeting of April 25, 2012 (02/17/2012)
11
annual_report
4803
845
All of the facilities from which we operate are owned or leased by our direct parent, AIC, except for office space in Lincoln, Nebraska that is leased by Lincoln Benefit Life Company, a wholly owned subsidiary of ALIC, for general operations, file storage and information technology. Expenses associated with facilities ...
90
10K
3878
1,461
growth in Domestic Life Insurance primarily due an increase in life insurance business in force and payout annuity premiums.
19
10K
TopdanmarkAS-AR_2018
888
Storm and rainstorms Reinsurance covers storm claims of up to DKK 5.1bn with a retention of DKK 100m. Snow loading, snow thawing and rainstorms are also covered. Reinstatement for the proportion of the cover used up is activated by payment of a reinstatement premium. In the event of another storm within the same year, ...
151
annual_report
4191
2,783
We also have derivatives related to securitization entities where we were required to consolidate the related securitization entity as a result of our involvement in the structure. The counterparties for these derivatives only have recourse to the securitization entity. The interest rate swaps used for these entities a...
146
10K
165
442
The Company has an Incentive Stock Option Plan which provides for the granting of options to purchase up to 600,000 shares of common stock. The exercise price of all options granted under the plan may not be less than the fair market value of the shares on the date of grant (110% of fair market value in the case of any...
128
10K
2987
8,286
FL Citizens reported losses from Hurricane Wilma in 2005, which followed the deficit for the 2004 plan year. The FL Citizens Board met at the end of May 2006 and certified the 2005 FL Citizens deficit at $1.73 billion of which $920 million was to be funded through a regular assessment. The Company paid its portion of t...
141
10K
ScorSE-AR_2012
233
Some of SCOR’s cedants’ credit models or reinsurance guidelines depend on their reinsurers’ financial rating. If SCOR’s rating deteriorates, cedants could be forced to increase their capital charge in respect of their counterparty risk on
35
annual_report
4620
1,907
On March 7, 2013, after receipt of approval from each of the Company’s and AmTrust’s Audit Committee, the Company and AmTrust executed an amendment to the Reinsurance Agreement, which provides for the extension of the term of the Reinsurance Agreement to July 1, 2016. The amendment further provides that, effective Janu...
226
10K
5055
823
Net Realized Gains (Losses) on Investments. Net realized losses on investments in 2015 totaled $2.5 million, compared to a gain of $0.7 million in 2014. In 2015, net realized losses of $2.7 million resulted from an other-than-temporary impairment of four fixed maturity securities. These losses were partially offset by ...
113
10K
5666
1,362
Due to the nature of the services provided, our Services arrangements with customers may include fixed price contracts, and to a lesser extent, percentage-of-sale contracts.
25
10K
INGGroepNV-AR_2014
5,944
› Concluding on the appropriateness of management’s use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on ING Group’s ability to continue as a going concern. If we conclude that a ma...
116
annual_report
AvivaPLC-AR_2011
2,592
Ordinary share capital 29 726 705 Preference share capital 32 200 200
12
annual_report
3823
351
Cash flow was $1.8 million for the fiscal year ended June 30, 2008, compared to $4.6 million for the prior fiscal year.
22
10K
1704
450
Effective February 8, 2002, Berkshire acquired for cash all of the outstanding shares of Albecca. Albecca designs, manufactures and distributes a complete line of high-quality custom picture framing products primarily under the Larson-Juhl name.
34
10K
2017
867
The Global Property and Marine operating segment includes principally property and marine reinsurance coverages that are written both in the United States and international markets. This business consists of catastrophe excess-of-loss reinsurance treaties. This operating segment also includes property per risk excess-o...
104
10K
3674
1,802
Also contributing to the decrease in adjusted operating income is the benefit in 2007 of a $37 million gain from the sale of the segment’s Oppenheim joint ventures and a $17 million gain from recoveries related to a former investment of the segment’s Korean asset management operation. The decrease also reflects lower r...
186
10K
fr_axa-AR_2007
1,636
Deputy CEO and President Customer Solutions & Operations of SAP AG
11
annual_report
5634
2,857
Private passenger auto, homeowners, and other personal lines insurance products are offered to consumers through agencies and directly through contact centers and online. Our strategy is to position product offerings and distribution channels to meet customers’ evolving needs and help them manage the risks they face. F...
65
10K
3718
936
In 2007, we issued $175 million aggregate principal amount of our 7 ¼% Senior Notes due April 1, 2014, or the Notes. The Notes were registered under the Securities Act of 1933, pursuant to a registration rights agreement with the initial purchasers. The indenture governing the Notes contains non-financial and financial...
80
10K
1788
3,299
See Index to Consolidated Financial Statements and Schedules on page 31.
11
10K
3223
1,122
Our insurance operations had in effect during 2006 a reinsurance program which provided coverage equal to a maximum of 92% of the first $325 million in excess of a $75 million retention per occurrence for certain property catastrophe-related losses occurring during 2006. In the 2007 first quarter, our insurance operati...
97
10K
2339
526
Penn-America distributes its insurance products through a small network of sixty-six (66) high-quality wholesale general agents who serve the needs of the more than 30,000 retail insurance brokers who work directly with Penn-America insureds. Penn-America has about one-half the number of general agents as its nearest c...
141
10K
PhoenixGroupHoldingsPLC-AR_2016
239
5% increase in the 2016 final dividend per share The 5% increase takes into account the bonus element of the rights issue completed in November 2016.
26
annual_report
Sampoplc-AR_2015
249
The total amount of direct and indirect carbon dioxide emissions from Nordic operations in 2015 was 9,004 tons. This is 56 per cent lower than in 2008 when the measurements were first taken. Purchased energy contributes 11 per cent and business travel (air, train and car) 86 per cent of the total. The total emissions f...
118
annual_report
2902
1,000
A reduction in accelerated, reinstatement and additional reinsurance premium costs related to the Company’s catastrophe reinsurance coverages:
17
10K
1300
484
The determination of loss and loss adjustment expense ("LAE") reserves involves the projection of ultimate losses through an actuarial analysis of the claims history of the Company and other professional liability insurers, subject to adjustments deemed appropriate by the Company due to changing circumstances. Manageme...
133
10K
2028
452
On September 27, 2002, A.M. Best Co. lowered the Company's "financial strength" rating to A- from A with negative implications.
20
10K
HelvetiaHoldingAG-AR_2003
216
Pierin Vincenz (1956) Member 2000 2006 • • a St.Gallen, Swiss b Dr. oec. HSG c Chairman of the Raiffeisen Group Switzerland, St.Gallen; d Member of the Board Committee of the Swiss Bankers’ Association, Basel; Board Chairman VISECA Card
39
annual_report
4064
1,423
The following table provides share information used in the calculation of the Company’s basic and diluted earnings per share:
19
10K
gb_prudential-AR_2012
1,272
Eff ectiveness Composition At the date of this report, the Board comprised the Chairman, seven executive directors and eight independent non-executive directors.
22
annual_report
BaloiseHoldingLtd-AR_2007
2,325
For private equity investments, provided no market value is available, different methods of appraisal are applied such as the analysis of the discounted cash fl ow or reference to comparable transactions in the recent past between experts, partners that are willing to enter into a contract and independent contractual p...
50
annual_report
HiscoxLtd-AR_2009
426
Overview and basis of reporting Hiscox Ltd (‘the Company’) is the Bermudian domiciled holding company for the Group. The Company is listed on the London Stock Exchange’s main market for listed securities. The corporate governance framework for companies registered in Bermuda is established by the Company’s constitution...
52
annual_report
ch_zurich_insurance_group-AR_2017
1,613
In USD millions, as of December 31 2017 2016 10% decline in stock markets Property & Casualty Net impact before tax (642) (558) Life Net impact before tax (422) (283) Rest of the business Net impact before tax (74) (50)
40
annual_report
NatwestGroupPLC-AR_2011
4,501
During 2011, refinements were made to the treatment of expected losses on certain triggered assets following a modification to the trigger events that apply to some portfolios. The valuation refinement was made to accurately reflect the impact of the changes. The expected losses arising on assets that trigger under the...
60
annual_report
fr_axa-AR_2016
9,757
■ internal “ESG Impact reports”: AXA IM develops ad hoc reports with ESG and carbon data, across a large variety of funds.
22
annual_report
SwissReAG-AR_2020
143
We need to draw lessons from this experience. While COVID-19 is still very fresh in our minds, we have a unique opportunity – if not an obligation – to build greater resilience against future pandemics and other systemic risks. The re/insurance industry alone cannot cover a risk that hits many countries and areas of li...
87
annual_report
gb_prudential-AR_2014
273
— We operate with a strong solvency position, with our estimated IGD capital surplus after funding the fees paid for renewing our exclusive distribution agreement with Standard Chartered Bank until 2029 and before final dividend covering the capital requirements 2.4 times.
41
annual_report
4931
581
In our other independent agency distribution channel, gross written premiums managed for 2014 increased $9.0 million, or 7.3% compared with 2013 and gross written premiums for 2013 increased $53.7 million, or 77.0%, compared with 2012. We believe the increases were primarily due to a reduction in competition from compa...
54
10K
3848
832
The financial condition and near-term prospects of the issuer, including any specific events that may influence the issuer’s operations;
19
10K
de_allianz-AR_2010
55
In last year’s Letter to the Investor, I wrote that your Allianz was well positioned to mitigate risks and exploit opportunities. Today, I can confirm this: with the exception of a few countries, the financial data for the year under review are excellent. Our strategic “3+One” program continues to take effect and will ...
69
annual_report
AssicurazioniGeneraliSpA-AR_2015
1,518
Net cash flows from shareholders' equity attributable to minority interests(****) -121 -119
12
annual_report
3974
883
During the years ended June 30, 2009 and 2008, the Company issued Restricted Stock Awards for 224,574 and 400,000 shares, respectively, of restricted common stock to certain employees pursuant to the Plan and Restricted Stock Award Agreements. Pursuant to the Restricted Stock Award Agreements, 190,000 Restricted Stock ...
123
10K
4014
2,269
The fair value of committed capital securities represents difference between the present value of remaining expected put option premium payments under the AGC's ("CCS") (the "AGC CCS Securities") and AGM Committed Preferred Trust Securities (the "AGM CPS Securities") agreements and the value of such estimated payments ...
101
10K
5835
1,877
To estimate expected credit losses for non-agency RMBS, the Company's projected cash flows incorporated underlying data from widely accepted third-party data sources along with certain internal assumptions and judgments regarding the future performance of the security. These assumptions included default, delinquency, l...
63
10K
NatixisSA-AR_2008
2,939
The French government has modifi ed the rules applicable to the
11
annual_report
SwissReAG-AR_2013
2,970
Mary Francis, Member6 120 80 200 Rajna Gibson Brandon, Member 335 197 131 328 C. Robert Henrikson, Chairman of the Compensation Committee7 306 257 171 428
26
annual_report
1024
194
The Company and its subsidiaries also lease an aggregate of approximately 515,000 square feet of office space in Rancho Cordova, California. The Company's aggregate rent obligations under these leases were approximately $7.2 million in 1998. These leases expire at various dates through July 2002. The Rancho Cordova fac...
55
10K
2763
9,460
(a) Grossed up for reinsurance recoverables of $2,243 and $2,234 at December 31, 2005 and 2004, respectively.
17
10K
5256
1,321
The following are excluded from total revenues in calculating operating revenues:
11
10K
GjensidigeForsikringASA-AR_2019
2,835
102-5 Ownership and legal form Commitment to our owners 83 102-6 Markets served Insurance segments 36-40 102-7 Scale of the organization Insurance segments 36-40 102-8 Information on employees and other workers Engaged employees 73-75 102-9 Supply chain Business model 28 102-10 Significant changes to the organization a...
53
annual_report
3748
957
We also are a guarantor for performance on a bridge loan for a non-executive employee whereby the collateral held by us under the guaranty is the mortgage secured by residential real estate. Our risk under the guaranty is that the borrower defaults on the mortgage and the proceeds from the sale of the residential real ...
127
10K
StandardLifeAberdeenPLC-AR_2018
1,774
When awarded, the vesting outcome was subject to a consolidated cumulative three-year third party EBITDA performance and this measure was used to capture vesting outcomes up to the end of 2017. As a consequence of the merger the awards became based on an adjusted profit before tax performance target for Aberdeen Standa...
97
annual_report
5411
491
The investment commitment in the above table relates to a maximum unfunded capital obligation for a limited partnership investment at December 31, 2017. The actual call dates for such funding could vary from that presented.
35
10K
2880
991
In 1998 and 1999, the Company had both quota share and excess of loss reinsurance agreements with three reinsurance companies related to the workers’ compensation line of business. As of December 31, 2005 and 2004, the Company had approximately $2.9 million of recoverables related to these reinsurance agreements, of wh...
68
10K
5910
1,159
Guarantees: At December 31, 2020, Globe Life had in place three guarantee agreements, of which were either Parent Company guarantees of subsidiary obligations to a third party, or Parent Company guarantees of obligations between wholly-owned subsidiaries. As of December 31, 2020, Globe Life had no liability with respec...
51
10K
1837
478
In the fourth quarter of 2000, Vesta redeemed preferred stock of a subsidiary with a stated value of $21 million and a carrying value of $18 million for $7.0 million including a $3.5 million contingent payable. In addition, we redeemed $8 million of Deferrable Capital Securities in exchange for 1.2 million shares of co...
84
10K
4502
1,296
The Company investigates significant differences related to the values provided. On completion of its investigation, management exercises judgment to determine the price selected and whether adjustments, if any, to the price obtained from the Company’s primary pricing provider would warrant classification of the price ...
232
10K
4369
650
State insurance laws restrict the ability of our insurance company subsidiaries to declare stockholder dividends. These subsidiaries may not make an “extraordinary dividend” until 30 days after the applicable commissioner of insurance has received notice of the intended dividend and has not objected in such time or unt...
212
10K
NatwestGroupPLC-AR_2016
5,857
Net (investment in)/divestment of business interests and intangible assets 33 (886) 391 (1,481)
13
annual_report
3641
810
On October 16, 2007, our Board of Directors authorized a share repurchase program of up to $100 million. Under this repurchase authorization, we may repurchase our common stock from time to time, in amounts and prices and at such times as we deem appropriate, subject to market conditions and other considerations. We ar...
106
10K
NatixisSA-AR_2020
4,760
Asset Management Acquisition of a minority stake in US Asset Management company WCM Investment Management (WCM) and conclusion of an international distribution agreement.
23
annual_report
4224
464
Pre-tax investment income in 2009 exceeded 2008 by $563 million (11.5%). The increase in investment income in 2009 primarily reflected earnings from several large investments made in the fourth quarter of 2008 and first half of 2009, partially offset by lower earnings on cash and cash equivalents due to lower short-ter...
58
10K
AegonNV-AR_2016
2,753
(COSO). The Company's management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s
32
annual_report
NatixisSA-AR_2009
2,222
The cost of risk was -€2,401.2 million in 2009 (see the analysis in Section 4.8 of the Management Report), including -€913.5 million attributable to GAPC.
25
annual_report
INGGroepNV-AR_2016
5,483
For ING Bank retail units, clear criteria have been established to determine whether a client is eligible for forbearance – generally as part of an automated process. Specific approval mandates are in place to approve the measures, as well as procedures to manage, monitor and report the forbearance activities.
49
annual_report
3936
2,014
The Company has various lease agreements for office space furniture and equipment. The terms of the office space lease agreements provide for annual rental increases and certain lease incentives including initial free rent periods and cash allowances for leasehold improvements. The Company amortizes scheduled annual re...
62
10K
5705
2,162
AFG reported net earnings attributable to shareholders of $211 million in the fourth quarter of 2019 compared to a net loss attributable to shareholders of $29 million in the fourth quarter of 2018. Results for the fourth quarter of 2019 were positively impacted by $8 million in net non-core items. Comparatively, the n...
99
10K
AvivaPLC-AR_2009
3,102
Aviva plc Notes to the consolidated financial statements continued Annual Report and Accounts 2009 35 – Retained earnings This note analyses the movements in the consolidated retained earnings during the year.
31
annual_report
AegonNV-AR_2018
2,846
Losses from fair value items of EUR 82 million were mainly caused by losses on equity hedging programs as a result of increased equity markets where hedges have been set up to protect against a decline in equity markets. Realized gains amounted to EUR 62 million in 2017 and reflect rebalancing of the investment portfol...
112
annual_report
RSAInsuranceGroupPLC-AR_2007
876
For notes, bonds, loans payable and loan capital, fair values are determined by reference to quoted market prices or estimated using discounted cashflow calculations based upon prevailing market rates. Loan capital is carried at amortised cost and, when different, fair value is shown in the relevant note. For borrowing...
66
annual_report
5881
1,233
We amortize premiums and discounts on debt securities over the life of the security as an adjustment to yield using the effective interest method. We compute investment gains and losses using the specific identification method.
35
10K
5071
3,828
The following table presents Policyholder contract deposits of the U.S. Life Insurance Companies by product line:
16
10K
3710
1,279
We make contributions and matching contributions to each of the active plans in accordance with the plan document and various limitations under Section 401(a) of the Internal Revenue Code of 1986, as amended.
33
10K
StandardLifeAberdeenPLC-AR_2020
1,705
Relative importance of spend on pay The following table compares what the Company spent on employee remuneration to what is paid in the form of dividends to the Company’s shareholders. Also shown is the Company’s adjusted profit before tax which is provided for context as it is one of our key performance measures: Remu...
151
annual_report
NatixisSA-AR_2005
2,053
As required by IAS 39, securities and loans are classified in the following four categories: n a) Financial assets at fair value through profit or loss
26
annual_report
4123
1,914
There has been significant discussion recently about health care reforms at both state and national levels, due to the size of and national interest in the health economy. Examples of health care reform proposals include policy changes that would change the dynamics of the health care industry, including
48
10K
3933
1,187
Year Ended December 31, 2007 as Compared with the Year Ended December 31, 2006
14
10K
fr_axa-AR_2011
8,894
Total number of shares subscribed (in million shares) 2.3 34.5 2.0 28.1
12
annual_report
4740
722
The fair value of embedded derivatives related to GMAB and the non-life contingent benefits associated with GMWB provisions fluctuates based on equity, interest rate and credit markets which can cause these embedded derivatives to be either an asset or a liability. These embedded derivatives are recorded in policyholde...
90
10K
StandardLifeAberdeenPLC-AR_2016
818
We believe job creation is vital to creating healthy communities. Providing quality employment, paid at a living wage, with access to skills and on-the-job experience for all, can turn jobs into careers and allow people to plan and look to the future with confidence. We work with people from disadvantaged backgrounds w...
87
annual_report