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5399
905
In 2016, amortization of DAC on our Canadian segregated funds product was lower compared to 2015 largely due to the impact of favorable 2016 segregated funds market performance.
28
10K
Sampoplc-AR_2000
1,670
Profit brought forward, 1 Jan. 226 For dividend distribution –145 Transfer from reserves provided for by the articles of association –80 Transfer to other reserves 0
26
annual_report
HannoverRueckSE-AR_2014
3,377
Interim Report 1 / 2015 Annual General Meeting Hannover Congress Centrum Theodor-Heuss-Platz 1 – 3 30175 Hannover, Germany
18
annual_report
SwissReAG-AR_2009
1,234
Responsibilities The Board of Directors reviews the professional credentials of the external auditor. The Audit Committee assists the Board in fulfilling its oversight of the auditor. The auditor is accountable to the Audit Committee, the Board of Directors and ultimately to the shareholders.
43
annual_report
3586
899
Given the growth of our insurance in force and the current state of the mortgage and housing market, we anticipate that our number of loans in default for both Primary and Modified Pool insurance will continue to increase as the largest percentage of our insurance in force reaches its peak claim paying period. We exper...
205
10K
SwissReAG-AR_1970
207
Sw. frs. Sw.frs. : Gross Premiums 327,467,000 267,148,000 Net Premiums 229,631,000 209,082,000
12
annual_report
AssicurazioniGeneraliSpA-AR_2015
1,422
Return on Investments The indicators for the return on investments are presented, obtained as the relationship: ❚ for the net current return between interest and other income, including income from financial instruments at fair value through profit and loss (excluding income from financial instruments related to linked...
129
annual_report
2863
672
The completion factor method is used for the months of incurred claims prior to the most recent three months because the historical percentage of claims processed for those months is at a level sufficient to produce a consistently reliable result. Conversely, for the most recent three months of incurred claims, the vol...
82
10K
LloydsBankingGroupPLC-AR_2006
194
The results reflect a strong performance across each of our three divisions, as we delivered good profitable growth in each, and once again we delivered positive jaws as the rate of growth in income exceeded that of costs.
38
annual_report
fr_axa-AR_2008
4,053
Total Financial investments exposed to interest rate risk 35,095 77,277 217,574 329,946
12
annual_report
SwissReAG-AR_2002
167
10/11 December Swiss Re hosts annual Economic and Insurance Industry Forum in London and New York The events offered perspectives on economic performance in 2002 and provided forecasts for 2003. Attendees were Swiss Re clients and members of the international media.
41
annual_report
AvivaPLC-AR_2017
4,032
Group would redeem the FxdRNs at first call date on 3 November 2017. At the notification date the instrument was reclassified as a financial liability of £484 million, representing its fair value on translation into sterling at that date. The resulting foreign exchange loss of £92 million has been charged to retained e...
162
annual_report
HannoverRueckSE-AR_2011
3,706
Hannover Re transferred a portfolio of facultative reinsurance risks to the capital market from September 2009 to January 2011, was in run­off as at the balance sheet date. A number of special purpose entities participated in the reinsurance cessions within “FacPool Re”; Hannover Re did not hold any shares in these spe...
77
annual_report
RaiffeisenBankInternationalAG-AR_2015
3,488
Slovenia Raiffeisen Leasing d.o.o. Letališka cesta 29a SI-1000 Ljubljana Phone: +386-1-241-6250 Fax: +386-1-241-6268 www.rl-sl.si
14
annual_report
gb_prudential-AR_2008
1,093
Significant agreements that take effect, alter or terminate upon a change of control of the Company following a takeover bid Under the agreements governing Prudential Corporation Holdings Limited’s life insurance and fund management joint ventures with China International Trust & Investment Corporation (CITIC), if ther...
123
annual_report
AegonNV-AR_2018
7,748
Corporate and individual income tax Residents of the Netherlands If a holder of Aegon common shares is a resident or deemed to be a resident of the Netherlands for Netherlands corporate income tax purposes and is fully subject to Netherlands corporate income tax or is only subject to Netherlands corporate income tax in...
109
annual_report
HannoverRueckSE-AR_2020
547
– in each case drawn up as at 31 December 2020 – and have no objections in this regard; nor do we have any objections to the statement made by the Executive Board at the end of the report on relations with affiliated companies.
44
annual_report
NatwestGroupPLC-AR_2019
867
Note: (1) Return on equity is based on segmental operating profit after tax adjusted for preference share dividends divided by average notional equity (based on 15% of the monthly average of segmental risk-weighted assets incorporating the effect of capital deductions (RWAes)), assuming a nil tax rate.
46
annual_report
AvivaPLC-AR_2011
3,731
The assumptions above are based on commonly used mortality tables and, in the UK, have been changed to those used by both schemes’ trustees in the most recent full actuarial valuations. The new tables make allowance for observed variations in such factors as age, gender, pension amount, salary and postcode-based lifest...
232
annual_report
BaloiseHoldingLtd-AR_2011
1,807
Change in technical reserves (gross) – 73.5 – 127.5 – 1,319.7 – 512.4 – – – – – – – 1,393.2 – 639.9
23
annual_report
936
705
Premium Deficiencies Recognition. In third quarter 1998, a contract dispute arose between the Company and MBNA America Bank, N.A., the producer of an automobile insurance program within the Custom Markets division ("the MBNA program"). The dispute related to certain underwriting and pricing changes made by TIG to produ...
188
10K
PosteItalianeSpA-AR_2017
7,264
Note 2.6 to the financial statements as of 31 December 2017 “Determination of fair value”
15
annual_report
5856
581
Foreign currency fluctuations can result in variances in the financial statement line items. Foreign currency exchange fluctuation did not have a material impact on income before taxes in 2020. Unless otherwise stated, all amounts discussed below are net of foreign currency fluctuations.
42
10K
1873
1,121
additional capital beyond what they have already provided for any shortfall in the reserves for their individual book of business. Aon is required to fund any shortfalls in accordance with Aon's limited recourse to the funding facility arranged by the servicing agent. The servicing agent estimated the liability that Ao...
128
10K
1318
408
During periods of peak demand for flood and homeowners insurance, the number of policies waiting to be issued increases. This backlog represents future service fee income to be earned, generally within one month.
33
10K
AegonNV-AR_2007
2,279
Aggregate tax effect of items recognized directly in equity – – 281 – 2 283 – 283
17
annual_report
StorebrandASA-AR_2006
1,340
The guaranteed yield on the premium reserve and on the premium fund is recognised to profit and loss as part of the item ‘changes in insurance reserves’. Other profit allocated to customers is shown under the item
37
annual_report
2885
1,202
The Company maintains two 401(k) defined contribution plans covering substantially all U.S. employees.
13
10K
NatixisSA-AR_2002
1,355
Accounting policies and valuation rules specific to nonbanking activities are retained in the consolidated financial statements, in particular those applicable to insurance subsidiary accounts. However, eliminating transactions between these subsidiaries and the banking subsidiaries cancels the matching of investments ...
59
annual_report
INGGroepNV-AR_2013
5,510
(1) Tier 1 instruments issued by ING Group (e.g. perpetual debt securities and preference shares) at nominal value. Group hybrid Tier 1 instruments other than preference shares are provided as hybrid capital to ING Bank or NN Group. Hybrid capital securities are perpetual fixed income securities with an embedded call a...
110
annual_report
4863
1,187
Our investment portfolio, including any derivatives, is valued at fair value and any unrealized gains or losses are reflected in net investment income in the consolidated statements of income. As of December 31, 2014, 83.9% (2013: 85.9%) of our investment portfolio (excluding restricted and unrestricted cash and cash e...
97
10K
AvivaPLC-AR_2009
1,977
Intervention and enforcement The FSA has extensive powers to investigate and intervene in the affairs of Authorised Firms and is obliged under FSMA to monitor compliance with the requirements imposed by, and to enforce the provisions of, FSMA, related secondary legislation and the rules made thereunder.
46
annual_report
fr_axa-AR_2011
6,076
EMBEDDED DERIVATIVES IN INSURANCE AND INVESTMENT CONTRACTS WITH DISCRETIONARY PARTICIPATING FEATURES
11
annual_report
4323
832
Structured financing does not appear on the consolidated balance sheets due to a master netting agreement where the Company holds a term deposit note of equal value from the counterparty.
30
10K
NatixisSA-AR_2014
3,556
In June 2013, Union Mutualiste Retraite fi led three complaints with AEW Europe in relation to the acquisition and management of two real estate portfolios in Germany between 2006 and 2008. The amounts claimed by Union Mutualiste Retraite total €93 million. The case is still in progress.
47
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2003
2,103
The number of staff employed by the Group at year-end totalled 30,233 (31,063) in Germany and 11,208 (10,333) in other countries.
21
annual_report
1939
640
Management’s Discussion and Analysis of Financial Condition and Results of Operations is set forth under the same caption on pages 25 through 40 of Ambac Financial Group’s 2002 Annual Report to Stockholders. Such information is incorporated herein by reference and should be read in conjunction with the Consolidated Fin...
64
10K
AegonNV-AR_2017
1,885
In addition to the four basic layers described above, Aegon has an established group-wide risk function. It is the mission of the Risk Management function to ensure the continuity of the
31
annual_report
AegonNV-AR_2012
3,688
of EUR 97 million (2011: EUR 133 million), which are classified as fair value through profit or loss.
18
annual_report
3279
901
Selling, general and administrative expense decreased $116.2 million, or 1%, to $8.7 billion, primarily due to lower salary and benefit costs including performance-based incentive compensation, partially offset by higher costs associated with growth of our business. Our selling, general and administrative expense ratio...
80
10K
RSAInsuranceGroupPLC-AR_2017
1,618
The Business Scorecard component focuses on key areas of management activity essential to the success of the Company including Underlying Performance, Risk and Resilience and Business Sustainability (including Customer franchise). The Personal Scorecard consists of SMART objectives bespoke to each Director, with a focu...
54
annual_report
2379
1,835
Provision has been made for the expected U.S. federal income tax liabilities applicable to undistributed earnings of subsidiaries, except for certain subsidiaries for which the Company intends to invest the undistributed earnings indefinitely, or recover such undistributed earnings tax-free.
39
10K
490
551
The accompanying consolidated financial statements have been prepared on the basis of generally accepted accounting principles ("GAAP") which assumes that the Company will continue as a going concern. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions t...
102
10K
4159
2,219
During the year ended December 31, 2010, the Company determined that based on the assessment of its control rights over servicer or collateral manager replacement, given that servicing/managing collateral were deemed to be the VIEs' most significant activities, ten additional VIEs required consolidated and two VIEs wer...
117
10K
5801
908
In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, which made certain changes solely to the guidance on measuring credit losses. In May 2019, the FASB issued ASU 2019-05, Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief,...
136
10K
nl_ing_grp-AR_2010
1,310
ASSETS Cash and balances with central banks 1 13,072 15,390 Amounts due from banks 2 51,828 43,397 Financial assets at fair value through profit and loss 3 – trading assets 125,675 111,444 – investments for risk of policyholders 120,481 104,597 – non-trading derivatives 11,722 11,632 – designated as at fair value throu...
75
annual_report
1650
597
Anthem's risk based capital as of December 31, 2001, continues to be substantially in excess of all mandatory RBC thresholds.
20
10K
5138
2,708
made or deemed made; (3) breach of specified covenants; (4) cross-defaults with other material indebtedness (as defined in the Credit Agreement) exceeding an aggregate principal amount of $100 million; (5) certain ERISA (Employee Retirement Income Security Act of 1974) events, (6) bankruptcy and insolvency events, (7) ...
130
10K
4067
910
These provisions, as included in ASC Topic 323, were adopted by the Company on January 1, 2009. The Company determined, however, that there was no effect on the Company’s financial condition, results of operations, or cash flows as of December 31, 2009, as there have been no acquisitions or changes in ownership for the...
59
10K
5762
1,105
The fair value of the Company’s publicly traded $375 million unsecured notes at December 31, 2019 and 2018 was obtained from a third party pricing service.
26
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2018
907
Condensed income statement for Munich Reinsurance Company 2018 Prev. year Change €m €m % Earned premiums for own account 16,856 20,525 –17.9 Interest on technical provisions for own account 398 469 –15.3 Other underwriting income for own account 18 39 –52.8 Claims incurred for own account –11,562 –16,711 30.8 Change in...
113
annual_report
StandardLifeAberdeenPLC-AR_2012
1,049
The measurement period is the period from the date of acquisition to the date the Group obtains complete information about facts and circumstances that existed at the acquisition date, and is subject to a maximum of one year.
38
annual_report
GjensidigeForsikringASA-AR_2014
2,454
Need for impairment app. NOK 75 million No need for impairment Need for impairment app. NOK 35 million Need for impairment app. NOK 166 million
25
annual_report
4090
930
Company’s wholly-owned subsidiary, to the Company’s shareholders (the “Distribution”). Immediately following the Distribution, the Company’s shareholders will own 100% of the outstanding common stock of FinCo. Prior to the Distribution, certain internal transactions will occur so that FinCo directly or indirectly owns ...
105
10K
1658
282
The carrying value of the funded debt was $536 million at December 31, 2001, compared with $366 million a year earlier.
21
10K
4384
824
Plan assets are invested in various pooled separate accounts under annuity contracts managed by two life insurance carriers. The plan’s investment policy provides that investments will be allocated in a manner designed to provide a long-term investment return greater than the actuarial assumptions, maximize investment ...
148
10K
4230
1,552
The following table summarizes net income (loss) for the Financial Services Businesses and the Closed Block Business for the periods presented.
21
10K
5229
935
Basic earnings per share have been calculated by dividing net income available to common shareholders by the weighted-average ordinary shares outstanding. Diluted earnings per share has been calculated by dividing net income available to common shareholders by the sum of the weighted-average ordinary shares outstanding...
64
10K
TrygAS-AR_2013
1,124
Tryg has set up a crisis management structure to deal with the eventuality that Tryg is hit by major crises. This comprises a Crisis Management Team at Group level, national contingency teams at country level and finally business contingency in the individual areas. Tryg has prepared contingency plans to handle the mos...
88
annual_report
5589
1,119
On November 16, 2018, in connection with the Merger, the Company completed a post-closing adjustment that was settled in cash to CM Bermuda. Based on the reported book value per share of $16.44 as of September 30, 2018, pursuant to the Merger Agreement, Sirius Group paid $1.6 million to CM Bermuda. See Note 3 "Signific...
76
10K
ch_zurich_insurance_group-AR_2009
999
As the Group has chosen USD as its presentation currency, differences arise when functional currencies are translated into the presentation currency.
21
annual_report
3833
10,096
Establishing property and casualty insurance reserves for claims related to environmental exposures, asbestos and other mass tort claims is subject to uncertainties that are significantly greater than those presented by other types of claims. In addition, accruals (included in other liabilities) have been recorded for ...
185
10K
5340
4,387
Pre-tax operating income increased in 2016 compared to 2015 primarily due to:
12
10K
5700
22,697
(b)The Other comprehensive income (loss) amounts for AIGLH, Other Subsidiaries, and Reclassifications and Eliminations in 2018 have been revised from $2.5 billion to $(4.6) billion, from $12.3 billion to $(6.8) billion, and from $(14.8) billion to $11.4 billion, respectively, to correct Comprehensive income (loss) in 2...
116
10K
RSAInsuranceGroupPLC-AR_2010
1,251
GIA reports to management on the effectiveness of the Company’s systems of internal controls and the adequacy of these systems to manage business risk and to safeguard the Group’s assets and resources.
32
annual_report
5757
1,398
The Company pays commissions and certain other fees to Prudential Annuities Distributors, Inc. (“PAD”) in consideration for PAD’s marketing and underwriting of the Company’s annuity products. Commissions and fees are paid by PAD to broker-dealers who sell the Company’s annuity products. Commissions and fees paid by the...
69
10K
5429
1,237
The following table sets forth condensed data from our consolidated statements of operations data, as well as other key data used in our results of operations discussions for the years ended December 31, 2017, 2016 and 2015.
37
10K
5327
1,891
The following additional adjustments are made to expenses, in the line items indicated, in calculating operating expenses:
17
10K
5192
1,022
Employers Mutual also offers postretirement benefit plans which provide certain health care and life insurance benefits for retired employees. Substantially all of its employees may become eligible for those benefits if they reach normal retirement age and have attained the required length of service while working for ...
168
10K
NatixisSA-AR_2016
5,226
Natixis Financement is a stakeholder in partnerships in the form of sociétés en participation (SEPs), with a lending institution (Banque Populaire bank or Caisse d’Epargne). The purpose of these SEPs is to ensure the origination, distribution, marketing, management and out-of-court collection of: personal repayment loa...
64
annual_report
4613
2,258
The Company continues to receive sufficient information to value its investments and has not had to modify its valuation approach due to the current market conditions. As of December 31, 2012, amounts, net of tax, in AOCI included a net unrealized loss of $4 million for securities for which the Company had recognized O...
118
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2009
398
31corporate governance corporate governance StateMent the Group Committee comprises the chairman of the Board of Management and at least one other member of the Board of Management. as in the past financial year, its current members are nikolaus von Bomhard, Jörg Schneider and the chief risk officer of Munich reinsuran...
103
annual_report
NatwestGroupPLC-AR_2008
2,350
Wages, salaries and other staff costs 8,907 6,230 5,652 Social security costs 696 471 389 Share-based compensation — 65 65 Pension costs – defined benefit schemes (see Note 4) 490 489 580 – defined contribution schemes 148 83 37
39
annual_report
4019
1,501
condition warrants the payment of a dividend to its stockholders. No consideration is given by the Commissioner of Insurance of the Commonwealth of Puerto Rico to financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) in making such determinations. See note 25 to our audit...
51
10K
AvivaPLC-AR_2011
945
IGD solvency surplus at 31 December 2010 3.8 Operating profits net of other income and expenses 1.0 Dividends net of scrip (0.5) Market movements including foreign exchange (1.9) Pension scheme funding (0.3) Impact of Delta Lloyd sell down 0.1 Impact of RAC sale 0.2 Restructuring of UK regulated general insurance entit...
60
annual_report
5883
600
Due to the COVID-19 pandemic and efforts to mitigate the spread of the virus, beginning in March of 2020, Loews Hotels & Co temporarily suspended operations at the majority of its owned and/or operated hotels. Since then, most hotels have resumed operations, but occupancy rates remain considerably lower than those from...
158
10K
4967
474
The accounting for pension benefits also contributes to the difference between our GAAP loss and expense ratios and our SAP loss and expense ratios. At January 1, 2013, we adopted new SAP pension guidance, which required the recognition of service costs for non-vested participants. In accordance with GAAP, service cost...
82
10K
HannoverRueckSE-AR_2019
845
The Sustainability Strategy 2018-2020 defines the following goals and measures with regard to this issue:
15
annual_report
RaiffeisenBankInternationalAG-AR_2012
2,198
The rating class excellent credit standing (A1) showed a decline of € 8,006,309 thousand which resulted from reduction of deposits at the Austrian National Bank (minus € 5,895,945 thousand) and decrease of the portfolio of Austrian government bonds (minus € 1,943,406 thousand).
42
annual_report
5309
1,590
At December 31, 2016, scheduled commercial mortgage loan maturities were as follows:
12
10K
4873
1,330
The 2014 and 2013 valuation allowances were established against net operating loss carryforwards in the Company’s United States subsidiaries, United Kingdom subsidiary and non-U.S. branches. The increase in the valuation allowance was charged to the Company’s income tax expense during 2014. Management believes the net ...
143
10K
SwissLifeHoldingAG-AR_2005
1,757
The Swiss Life Group has significant influence on AIA Pool, which is a pool of several insurance companies. AIA Pool specialises in the insurance of architects and engineers. The significant influence of the Swiss Life Group is based on agreements with the other insurers participating in AIA Pool. No investments in ass...
80
annual_report
ch_zurich_insurance_group-AR_2015
2,827
Transfers into level 3 1 2 – Transfers out of level 3 – – – Foreign currency translation effects (7) (5) (257)
22
annual_report
NatwestGroupPLC-AR_2007
2,710
Scotland. The accounts are prepared on the historical cost basis except that the following assets and liabilities are stated at their fair value: derivative financial instruments, held-fortrading financial assets and financial liabilities, financial assets and financial liabilities that are designated as at fair value ...
79
annual_report
NatwestGroupPLC-AR_2004
516
��� Citizens and the Commonwealth of Pennsylvania announced a partnership offering US$100 million in loan funds over the next two years at a low interest rate to companies that agree to create jobs in Pennsylvania. The Citizens Job Bank hopes to create 4,000 new jobs across the state.
48
annual_report
13
388
Separate accounts represent funds for which investment income and gains or losses accrue directly to certain policyholders. The assets of these accounts are legally segregated and are not subject to the claims which may arise out of any other business of the Company. Separate account assets are reported at market value...
87
10K
ASRNederlandNV-AR_2012
303
Leadership In 2011 a.s.r. initiated an intensive programme of cultural change. The main priority of this programme is that a.s.r. wants to win back the trust of customers as well as its employees. At the heart of this are the core values of being personal, approachable and accountable, and true to who we are.
54
annual_report
47
582
The Group Department is a Southeastern and Southwestern-focused provider of a wide range of Group insurance products for employers and their employees. It offers conventionally insured and alternatively funded medical benefits, as well as a variety of life, disability income, dental and retirement plans. A summary of t...
51
10K
gb_prudential-AR_2015
49
) basis results 7 A dditional inform ation www.prudential.co.uk Annual Report 2015 Prudential plc 03
15
annual_report
4871
2,514
Renewal written price increase (decrease) represents the combined effect of rate changes, amount of insurance and individual risk pricing decisions per unit of exposure since the prior year. The rate component represents the change in rate filings during the period and the amount of insurance represents the change in t...
229
10K
3155
1,693
Our investment guidelines require our fixed income securities to be investment grade in order to provide liquidity to meet future payment obligations and minimize the risk to the principal. The fixed income portfolio includes government and corporate securities with an average quality rating of “AA+” and an average con...
97
10K
NatwestGroupPLC-AR_2020
6,036
There are a number of risks and uncertainties involved in climate scenario modelling, including that: • it requires a special skill set that banks traditionally do not have and therefore
30
annual_report
LloydsBankingGroupPLC-AR_2012
5,041
Lloyds Banking Group Share Buy Out Awards As part of arrangements to facilitate the recruitment of certain Executives, options have been granted by individual deed and, where appropriate, in accordance with the listing Rules of the uK listing Authority.
39
annual_report
5104
1,631
The incurred claims development related to prior years reflects favorable claims experience compared to previous estimates, primarily in our lines of business in Japan.
24
10K
4202
1,036
The per occurrence cap on the total program is $64.0 million.
11
10K
2637
1,030
Net Investment Income. Net investment income increased $237,000 to $1,967,000 for fiscal 2003, compared to $1,730,000 for fiscal 2002, mainly due to a higher yield from investments in fixed maturities in 2003. Investment income in 2002, although based on greater assets, was at a lower yield due to the shorter duration ...
54
10K
4911
4,318
Company (DelAm), and other related business units, which were sold by AIG to MetLife in November 2010. The inquiries relate to whether ALICO, DelAm and their representatives conducted insurance business in New York over an extended period of time without a license, and whether certain representations by ALICO concernin...
285
10K
fr_axa-AR_2001
5,090
• net of amounts allocated for policyholders and minority interests of €2,897 million and €4,233 million, respectively.
17
annual_report
5104
1,240
See our preceding discussion in this Capital Resources and Liquidity section of MD&A regarding the 364-day uncommitted bilateral line of credit entered into by the Parent Company and Aflac in October 2015 in the amount of $100 million; the five-year senior unsecured revolving credit facility agreement entered into by t...
98
10K
3835
907
The financial information presented has been revised to reflect the impact of the restatement of the Company’s consolidated statement of cash flows for the year ended December 31, 2007, more fully described in Note 2 - “Summary of Significant Accounting Policies” in the Notes to Consolidated Financial Statements.
48
10K