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2367
1,887
Basic earnings per share from net loss $ (0.64 ) $ 0.01
12
10K
5225
748
Separate accounts assets are carried at fair value. The assets of the separate accounts are legally segregated and available only to settle separate accounts contract obligations. Separate accounts liabilities represent the contractholders’ claims to the related assets and are carried at an amount equal to the separate accounts assets. Investment income and realized capital gains and losses of the separate accounts accrue directly to the contractholders and therefore are not included in the Company’s Consolidated Statements of Operations and Comprehensive Income. Deposits to and surrenders and withdrawals from the separate accounts are reflected in separate accounts liabilities and are not included in consolidated cash flows.
105
10K
StandardLifeAberdeenPLC-AR_2018
3,202
Risk segment Reportable segment Shareholder business Participating business Unit linked funds1
11
annual_report
5688
5,323
Expense ratio decreased 1.3 points in 2019 compared to 2018, primarily due to lower technology and employee-related costs.
18
10K
3886
790
In connection with the Transfer further discussed in the note to the consolidated financial statements entitled "Transfer of Senior Health Insurance Company of Pennsylvania to an Independent Trust", the Company issued a $125.0 million Senior Note due November 12, 2013 payable to Senior Health. The Senior Note has a five-year maturity date; a 6 percent interest rate; and requires annual principal payments of $25.0 million. Such amounts are expected to be funded by the Company's operating activities. Conseco agreed that it would not pay cash dividends on its common stock while any portion of the Senior Note remained outstanding.
99
10K
4677
1,436
Private investment funds - The Company generally has no right to redeem its interest in any of these private investment partnerships in advance of dissolution of the applicable partnership. Instead, the nature of these investments is that distributions are received by the Company in connection with the liquidation of the underlying assets of the applicable limited partnership. It is estimated that the majority of the underlying assets of the limited partnerships would liquidate over 5 to 10 years from inception of the limited partnership.
84
10K
fr_axa-AR_2010
10,925
APPENDICES A APPENDIX VIII SHAREHOLDERS’ MEETING – APRIL 27, 2011 instruments giving a claim on the Company’s share capital, e) cancelling some or all of these shares, provided that the
30
annual_report
5205
846
On November 9, 2006, UPCIC entered into a $25.0 million surplus note with the State Board of Administration of Florida (the “SBA”) under Florida’s Insurance Capital Build-Up Incentive Program (the “ICBUI”). The surplus note has a twenty-year term and accrues interest, adjusted quarterly based on the 10-year Constant Maturity Treasury Index. The carrying amount of the surplus note is included in the statutory capital and surplus of UPCIC of approximately $14.3 million as of December 31, 2016.
77
10K
SwissReAG-AR_2012
306
Clarence Wong is Chief Economist Asia, based in Hong Kong. He has been with Swiss Re since 1999. Clarence has authored several studies on regional and international trends in insurance. He participates in a wide range of research and consulting projects on the relationship between the general economy, capital markets and the insurance and reinsurance markets. His latest sigma study, “partnering for food security in emerging markets,” is available on swissre.com /sigma.
72
annual_report
LloydsBankingGroupPLC-AR_2014
3,433
These are highly judgemental and complex calculations dependent on market data, and models developed by management. For CVA and DVA, the adjustments are sensitive to factors such as the value of the uncollateralised derivative financial instruments, their expected future market volatility and credit risks. For FVA, the methodology for calculating the adjustments continues to evolve across the banking industry.
59
annual_report
fr_axa-AR_2001
4,221
While notional amount is the most commonly used measure of volume in the derivatives market, it is not used as a measure of risk because the notional amount greatly exceeds the possible credit and market loss that could arise from such transactions. AXA is exposed to the credit risk of the counterparty to the derivative instrument, however, AXA has no credit risk related to notional principal amounts. The notional amounts do not represent the amounts actually exchanged by the parties and thus are not a measure of AXA’s exposure to the derivative instruments. AXA’s exposure is represented by the mark to market exposure at a point-in-time measured by the value of a derivative contract in the open market.
118
annual_report
1618
254
potential loss incurred with 95% confidence (i.e., only 5% of historical scenarios show losses greater than the VaR figure). A one-month holding period is assumed in computing the VaR figure. At December 31, 2000 and 1999, the VaR was approximately $80 million and $76 million, respectively.
46
10K
5856
1,426
In 2006, RGA’s subsidiary, Timberlake Financial L.L.C. (“Timberlake Financial”), issued $850 million of Series A Floating Rate Insured Notes, due June 2036, in a private placement. The notes were issued to fund the collateral requirements for statutory reserves required by Regulation XXX on specified term life insurance policies reinsured by RGA Reinsurance and retroceded to Timberlake Re. Proceeds from the notes, along with a $113 million direct investment by RGA, were deposited into a series of accounts that collateralize the notes and are not available to satisfy the general obligations of the Company. As of December 31, 2020 and 2019, respectively, the Company held assets in trust and in custody of $572 million and $694 million, of which $40 million and $58 million were held in a Debt Service Coverage account to cover interest payments on the notes. Interest on the notes accrues at an annual rate of 1-month LIBOR plus a base rate margin, payable monthly, and totaled $3 million, $9 million and $9 million in 2020, 2019 and 2018, respectively.
172
10K
4693
917
Securities Lending: The Company engages in securities lending whereby certain securities from its portfolio are loaned to other institutions for short periods of time. Initial collateral, primarily cash, is required at a rate of 102% of the market value of the loaned securities. The lending agent retains the cash collateral and invests in liquid assets on behalf of the Company. The market value of the loaned securities is monitored on a daily basis with additional collateral obtained or refunded as the market value of the loaned securities fluctuates.
88
10K
5835
1,752
For the year ended December 31, 2020, the Company's impairment review of goodwill and indefinite lived intangibles resulted in the recognition of an impairment loss of $1 million related to the exit from certain program business. For the year ended December 31, 2019, the Company's impairment review of goodwill and indefinite lived intangibles did not result in the recognition of an impairment loss. For the year ended December 31, 2018, the Company's impairment review of goodwill and indefinite lived intangibles resulted in the recognition of an impairment loss of $4 million related to the termination of the Managing General Agent ("MGA") contract intangible asset identified in connection with the acquisition of Novae.
112
10K
AvivaPLC-AR_2016
66
5,000+ Visible LGBT Allies across six locations, showing that it’s important to spend energy being yourself, not hiding it. We also recently launched our Aviva Pride and Allies group in Toronto, Canada
32
annual_report
BaloiseHoldingLtd-AR_2007
2,974
Notes to the Consolidated Balance Sheet 7. Property, Plant and Equipment
11
annual_report
fr_axa-AR_2016
1,983
Net income from investments in affi liates and associates 9 8
11
annual_report
RaiffeisenBankInternationalAG-AR_2017
185
Financial Calendar 2018 15 March 2018 RBI Investor Presentation, London 1 May 2018 Start of Quiet Period 15 May 2018 First Quarter Report, Conference Call 11 June 2018 Record Date Annual General Meeting 21 June 2018 Annual General Meeting 28 June 2018 Ex-Dividend Date 29 June 2018 Record Date Dividends 2 July 2018 Dividend Payment Date 26 July 2018 Start of Quiet Period 9 August 2018 Semi-Annual Report, Conference Call 31 October 2018 Start of Quiet Period 14 November 2018 Third Quarter Report, Conference Call
85
annual_report
PosteItalianeSpA-AR_2019
1,652
On 3 October 2019, Poste Italiane signed a €400 million loan with the European Investment Bank (EIB) to support certain initiatives envisaged in the Deliver 2022 Plan. The loan is intended for the implementation of numerous projects in a variety of sectors, with initiatives that include the installation of photovoltaic panels at certain Post Offices, digital transformation at the service of the customer experience and the development of automated letter and parcel sorting systems. The loan was disbursed on 18 October 2019, at a fixed rate of 0.29% and with a duration of 7 years.
95
annual_report
2667
527
We are a leading provider of private passenger automobile insurance in Massachusetts. In addition to private passenger automobile insurance (which represented 81.0% of our direct written premiums in 2004), we offer a portfolio of other insurance products, including commercial automobile (10.4% of 2004 direct written premiums), homeowners (7.2% of 2004 direct written premiums), dwelling fire, umbrella and business owner policies. Operating exclusively in Massachusetts through our insurance company subsidiaries, Safety Insurance and Safety Indemnity Insurance Company (together referred to as the "Insurance Subsidiaries"), we have established strong relationships with 556 independent insurance agents in 659 locations throughout Massachusetts. We have used these relationships and our extensive knowledge of the Massachusetts market to become the second largest private passenger automobile insurance carrier in Massachusetts, capturing an approximate 11.0% share of the Massachusetts private passenger automobile market in 2004, according to the CAR Cession Volume Analysis Report of March 1, 2005, based on automobile exposures. These statistics total, for each vehicle insured, the number of months during the year insurance for that vehicle is in effect, to arrive at an aggregate number of car-months for each insurer; this aggregate number, divided by 12, equals the insurer's number of car-years, a measure we refer to in this Form 10-K as automobile exposures.
209
10K
AvivaPLC-AR_2015
3,827
Incurred in current year (121) (131) Incurred in prior years (225) (173)
12
annual_report
AdmiralGroupPLC-AR_2004
116
That’s the long-range outlook for the market. Looking at the next 12 months, the good times the market has enjoyed over the last few years have resulted in more firms looking for greater market share. I believe that if you could add up the policy numbers from all the business plans of all the firms in the market you would account for more policies than actually exist. At the moment, the battle for market share is being waged in the media. As consumers can probably testify to, there does not seem to be a corner of the UK that doesn’t seem to be submerged in car insurance advertising.
108
annual_report
2226
853
The reserve for index annuity contracts includes a series of embedded derivatives that represent the contact holder’s right to participate in index returns over the expected lives of the applicable contracts. The reserve includes the value of the embedded forward options despite the fact that call options are not purchased for a period longer than the period of time to the next contract anniversary date.
65
10K
fr_axa-AR_2010
6,646
In most investment funds (particularly open-ended investment funds), minority interests do not meet the defi nition of shareholders’ equity. They are therefore presented as liabilities under “Minority interests of controlled investment funds and puttable instruments held by minority interest holders”. As of
42
annual_report
gb_lloyds_banking_grp-AR_2013
8,206
Level 3 fair value measurements level 3 fair value measurements are those where at least one input which could have a significant effect on the instrument’s valuation is not based on observable market data.
34
annual_report
5556
442
The Company has sold a wide array of annuities, including deferred and immediate variable annuities with (1) fixed interest rate allocation options, subject to a market value adjustment, that are registered with the United States Securities and Exchange Commission (the “SEC”), and (2) fixed-rate allocation options not subject to a market value adjustment and not registered with the SEC. In addition, the Company has a relatively small in force block of variable life insurance policies. The Company stopped actively selling annuity products between March 2010 and December 2017.
88
10K
gb_prudential-AR_2006
4,607
Profit before tax attributable to shareholders: Operating profit based on longer-term investment returns (note iii) 400 348 175 34 957
20
annual_report
5787
1,264
changes related to a reinsurer. Because billed receivables generally approximate 5% or less of total reinsurance receivables, the age of the reinsurance receivables related to paid losses is not a significant input into the allowance analysis. Changes in the allowance for doubtful accounts on reinsurance receivables are presented as a component of Insurance claims and policyholders’ benefits on the Consolidated Statements of Income.
63
10K
AegonNV-AR_2013
5,476
Base interest rates set by central banks and government treasuries remained at the historically low levels initiated in response to the worldwide recession and attempts to stimulate growth.
28
annual_report
4081
1,188
The Compensation Committee of the Board of Directors, or the Board’s authorized designee, has sole discretion to determine the persons to whom options are granted, the number of shares covered by such options and the exercise price, vesting and expiration dates of such options. Options are non-transferable and are exercisable in installments. Stock options to purchase Unitrin’s common stock are granted at prices equal to the fair value of Unitrin’s common stock on the date of grant. Prior to 2003, only non-qualified stock options had been granted.
87
10K
3100
2,147
Deposits to investment-type contracts and deposits to the separate accounts increased by $594 million, or 22.0%, during the year ended December 31, 2005 when compared to 2004. The
28
10K
2902
1,438
On February 7, 2006, the Board of Directors approved a three-for-one split of the Company’s common stock payable to shareholders of record on February 20, 2006 for distribution on March 1, 2006. Weighted average common shares outstanding, equivalents outstanding, basic earnings per share and diluted earnings per share have been restated for all periods presented to reflect this stock split.
60
10K
2677
323
On November 18, 2004, MMC announced that five members of its Board of Directors, who were also executives of the company, stepped down from their positions on the Board. After this action, MMC's Board consists of Michael Cherkasky, the company's president and chief executive officer, and ten outside members.
49
10K
2307
1,223
Reclassification adjustments, excluding net unrealized gains/(losses) on assets allocated to the Closed Block, reported in the above table for the years ended December 31, 2003, 2002 and 2001 are net of income tax
33
10K
TrygAS-AR_2018
386
The overall investment result in Q4 was DKK -330m (DKK 86m), where the vast majority of the large swing (vs Q4 2017) can be explained by very different developments in equity markets. Tryg’s equity port folio returned -14.9% in Q4 2018 (DKK -284m) against 4.3% in Q4 2017 (DKK 112m).
50
annual_report
AegonNV-AR_2004
2,874
ON SHARES AND REAL ESTATE 151 130 16 222 188 18
11
annual_report
4033
600
December 31, 2008 we had a backlog of awarded projects totaling approximately $41.9 million, compared to $45.0 million at December 31, 2007.
22
10K
NatwestGroupPLC-AR_2018
4,160
Fastighets Aktiebolaget Sambiblioteket BF FC (45) Koy Raision Kihlakulma BF FC (47)
12
annual_report
NatwestGroupPLC-AR_2020
3,588
Notes: (1) The table is prepared on a hierarchical basis from top to bottom, for example, accounts with PD deterioration may also trigger backstop(s) but are only reported under PD deterioration. (2) Includes customers where a PD assessment cannot be undertaken due to missing PDs.
45
annual_report
629
173
Mortgage loans represented 9.6% and 3.2% of the total investments in the general account at December 31, 1997 and 1996, respectively. Mortgage loans consist of commercial mortgage loans and residential mortgage loan pools. At December 31, 1997 and 1996, commercial mortgage loans comprised 69.4% and 100.0% of the mortgage loan portfolio.
51
10K
2495
685
Cash flows provided by operating activities were $66.3 million and $12.1 million for the year ended December 31, 2004 and 2003, respectively. Sources of cash flows of $44.0 million in 2004 resulted from decreases in the Company's trading portfolio. Cash of $61.7 million was used in 2003 to establish the Company's trading portfolio, whose trading activities included collateralized debt obligations and certain other fixed maturity securities. As the Company commenced its trading portfolio in 2003, any securities purchased by the Company would be reflected as a use of cash from operating activities and any securities sold would be reflected as a source of cash from operating activities. In addition, cash flows in 2003 reflected larger amounts received from collections of both reinsurance and premium and other receivables than in 2004. Paid losses were lower in 2003 than in 2004, reflecting the commutation of approximately $27.5 million of certain ceded loss reserves.
151
10K
fr_axa-AR_2009
63
AXA’s business and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forwardlooking statements, whether to refl ect new information, future events or circumstances or otherwise.
32
annual_report
4886
786
We currently underwrite every loan we insure, including loans submitted through our delegated channel. Until recently, we believe the prevailing standard of other companies in the MI industry has been to conduct partial quality assurance testing of delegated underwritten loans. Our pricing policies also help mitigate credit risk in the form of higher premium rates for loan features or borrower characteristics associated with historically higher default rates.
67
10K
HannoverRueckSE-AR_2002
136
Hannover Re makes a convincing impression by means of high transparency and an experienced management.
15
annual_report
BaloiseHoldingLtd-AR_2006
1,372
VORABDRUCK ciation (SIA). Hansjörg Frei is a member of the Board of Directors of Ems-Chemie Holding
16
annual_report
AvivaPLC-AR_2004
545
Guaranteed unit price on certain products – Certain unit linked pension products linked to long-term life insurance funds provide policyholders with a guaranteed unit price of £1 at retirement or death. No additional provision is made for this guarantee as the investment management strategy for these funds is designed to ensure that the guarantee can be met from the fund, mitigating the impact of large falls in investment values and interest rates.
72
annual_report
PowszechnyZakladUbezpieczenSA-AR_2016
1,053
Number of clients (in millions) ~16 million ~ 5.4 million ~ 4.1 million
13
annual_report
5353
1,630
The following assumptions and methodology were used to determine the guaranteed reserves for closed block of variable annuity contracts as of December 31, 2017 and 2016:
26
10K
AdmiralGroupPLC-AR_2015
205
So it is with great pride that I can tell you that Admiral Seguros made a modest profit in 2015. And it is equally with great pride that I will tell you that AS will not break-even in 2016! Now we are ready for growth, but growth in Spain is expensive. So we will return to losses in the near term. But we did not enter this market to create a very small business that breaks even; we are here for a bigger slice of the paella.
87
annual_report
AvivaPLC-AR_2020
2,429
Consolidation Assessment of whether the Group controls the underlying entities including consideration of its decision making authority and rights to the variable returns from the entity. As part of this assessment Aviva applies a corridor approach to consolidation thresholds, where the Group’s percentage ownership in certain investment vehicles fluctuates daily.
50
annual_report
2845
1,059
On December 15, 2003, at the time of the Conversion, the Group acquired the remaining minority interest in FHC in exchange for 502,525 shares of Group. Additional goodwill of $1,797 was recorded at the time the minority interest was acquired.
40
10K
4592
2,613
Our strategy for the Allstate brand focuses on customers who prefer local personal advice and service and are brand-sensitive. Our customer-focused strategy for the Allstate brand aligns targeted marketing, product innovation, distribution effectiveness, and pricing toward acquiring and retaining an increased share of our target customers, which generally refers to consumers who want to purchase multiple products from one insurance provider including auto, homeowners and financial products, who have better retention and potentially present more favorable prospects for profitability over the course of their relationships with us. As a result of this strategy, the majority of the Allstate brand's policies are owned by customers with multiple products.
107
10K
4279
1,300
Fair value measurements and disclosures: In January 2010, the FASB issued amended accounting guidance on fair value disclosures. This guidance requires new disclosures about transfers in and out of fair value hierarchy Levels 1 and 2. We adopted this guidance as of January 1, 2010. The adoption did not have an impact on our financial position or results of operations.
60
10K
HelvetiaHoldingAG-AR_2018
2,040
The Helvetia Group classifies financial liabilities according to their origin as financial liabilities from financing activities, financial liabilities from insurance business and other financial liabilities. Financial liabilities from insurance business are reported as a component of the insurance business in section 9.8 (page 131).
44
annual_report
AegonNV-AR_2015
567
New York Life, Principal Financial, and Prudential Financial. In the emerging market segment and the multiple employer plan segment, Aegon USA's main competitors are American Funds,
26
annual_report
RSAInsuranceGroupPLC-AR_2018
1,549
· The Committee considered the new external appointments of Martin Scicluna (as chairman-designate of J Sainsbury plc), Alastair Barbour and Martin Strobel and in each case was satisfi ed that the external appointments could be approved on the basis that they did not give rise to a confl icts of interest and would not impact the director’s time commitment to the Company.
62
annual_report
RSAInsuranceGroupPLC-AR_2012
1,565
As a result of a review, RSA no longer benchmarks pay against the FTSE 100 and the UK financial services sector; it introduced two new peer groups in 2012.
29
annual_report
4996
786
Prospectively, as fixed income investments mature and new cash is obtained, the cash available to invest will be invested in accordance with the Company’s investment policy. The Company’s investment policy allows the Company to invest in taxable and tax-exempt fixed income investments as well as publicly traded and private equity investments. With respect to bonds, the Company’s credit exposure limit for each issuer varies with the issuer’s credit quality. The allocation between taxable and tax-exempt bonds is determined based on market conditions and tax considerations. The fixed income portfolio currently has a duration of 1.95 years which allows the Company to defensively position itself during the current low interest rate environment.
111
10K
gb_lloyds_banking_grp-AR_2016
1,646
As disclosed in the 2015 Directors’ remuneration report, for the first time since 2011, a salary increase was applied in 2016 for the Group Chief Executive to begin to adjust his base salary to the previously disclosed Reference Salary of £1.22 million, which was set relative to the market when he joined in 2011, and for the adjustment to be staged over two years. As a result the second stage of the adjustment to £1.22 million is to be implemented with effect from January 2017, with 2 per cent of the increase delivered in cash and the remainder in shares.
100
annual_report
2637
1,059
Loss from Discontinued Operations. As a result of the decision by the Board of Directors to discontinue the operations of Intellicom on March 29, 2002, the loss on operations for the quarter ended December 31, 2001 of $928,000 has been reclassified as loss from discontinued operations.
46
10K
883
207
We have audited the accompanying consolidated balance sheets of The National Security Group, Inc. and subsidiaries as of December 31, 1998 and 1997, and the related consolidated statements of income, shareholders' equity and cash flows for each of the three years in the period ended December 31, 1998. These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.
75
10K
5258
753
0.8 point decrease in the renewal ratio in 2016 compared to 2015. Of our largest 10 states, 9 experienced decreases in the renewal ratio in 2016 compared to 2015.
29
10K
HannoverRueckSE-AR_2015
1,702
The consolidated financial statement reflects all IFRS in force as at 31 December 2015 as well as all interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC), application of which was mandatory for the year under review. IFRS 4 “Insurance Contracts” requires disclosures on the nature and extent of risks stemming from reinsurance contracts, while IFRS 7 “Financial Instruments: Disclosures” requires similar information on risks from financial instruments. Additionally, § 315 Para. 2 Number 2 German Commercial Code (HGB) also contains requirements for insurance undertakings with regard to information on the management of underwriting and financial risks that is to be provided in the management report. The disclosures resulting from these requirements are included in the risk report. We have dispensed with an additional presentation of the same content in the notes. In order to obtain a comprehensive overview of the risks to which Hannover Re is exposed it is therefore necessary to consider both the risk report and the relevant information in the notes. We refer the reader accordingly to the corresponding remarks in the risk report and the notes.
182
annual_report
PhoenixGroupHoldingsPLC-AR_2015
1,038
The Committee has commissioned a broader review of incentives during 2016 to consider whether alternative approaches will be more suitable for Phoenix Group given the constraints outlined above. As part of that review, the Committee will also look at the developing approach of financial services regulators towards the design of executive remuneration. Specifically within the insurance industry, this includes the remuneration aspects of Solvency II and, in the wider regulated financial sector, the continuing development of regulators’ views towards the implementation of the remuneration aspects of CRD IV (the EU’s Capital Requirements Directive for regulated financial businesses).
97
annual_report
ScorSE-AR_2019
1,117
The discussions focused primarily on the following matters: • accounting and financial responsibilities: the review of the quarterly, half-year and annual financial statements, the review of the half-year interim report, the review of the 2019 budget and operating plan, the review of the Statutory Auditors’ reports, the review of the 2018 Registration Document, the review of the financial resolutions for the Annual Shareholders’ Meeting, the review of some authorizations prior to their submission to the Board of Directors; • ethical, internal control and compliance responsibilities: the review of the quarterly internal audit reports and of the 2019 internal audit plan, the annual review of the Group Policies (especially those required by Solvency II), the actuarial key function holder report, the 2019 compliance plan and the annual review of compliance activities, the annual review of related party agreements, the annual reporting of the Audit Committees of SCOR subsidiaries, the review of the main litigation files, the review of the quarterly legal and compliance dashboard.
163
annual_report
5281
2,062
AFG’s overall expense ratio decreased 2.5% in the fourth quarter of 2016 as compared to the fourth quarter of 2015 reflecting an increase in ceding commissions received from reinsurers.
29
10K
nl_ing_grp-AR_2017
6,088
Additional Governmental Measures Governments in The Netherlands and abroad have also intervened over the past few years on an unprecedented scale, responding to stresses experienced in the global financial markets. Some of the measures adopted subject us and other institutions for which they were designed to additional restrictions, oversight or costs. Restrictions related to the Restructuring Plan are further described in Note 50 ‘ING’s Restructuring’ to the consolidated financial statements.
70
annual_report
ch_zurich_insurance_group-AR_2007
3,120
Expected transfer from value of business in-force to shareholders’ net assets, after tax 1,070 (1,070) –
16
annual_report
HannoverRueckSE-AR_2015
150
We are a preferred business partner • Offer an attractive value proposition that makes us the preferred business partner for our clients • Foster customer relationships to both parties’ mutual benefit irrespective of the size of the account
38
annual_report
AssicurazioniGeneraliSpA-AR_2015
3,428
F in an ci al li ab ili tie s de si gn at ed a t f ai r v al ue th ro ug h pr of it or lo ss
33
annual_report
3763
1,244
although other factors influence fair value, including specific credit-related changes, supply and demand forces and other market factors. When the Company holds an available-for-sale investment to maturity, any unrealized gain or loss currently recorded in accumulated other comprehensive income (loss) in the shareholders’ equity section of the balance sheet is reversed. As a result, the Company would realize a value substantially equal to amortized cost. However, when investments are sold prior to maturity, the Company will realize any difference between amortized cost and the sale price of an investment as a gain or loss within its statement of operations. The Conduit portfolios are considered held-to-maturity, as the Company has the ability and intent to hold these investments to their contractual maturity. Therefore, these portfolios are reported on the Company’s consolidated balance sheet at amortized cost and are not adjusted to reflect unrealized changes in fair value.
146
10K
AegonNV-AR_2001
1,312
Life general account single premium 0 4 43 76 –43 3 4 –25 Life general account recurring premium 77 82 –6 52 38 37 89 25 Life policyholders’ account single premium 10 34 –71 45 97 –54 15 21 –29 Life policyholders’ account recurring premium 36 18 38 38 0 98 72 36
53
annual_report
AegonNV-AR_2015
2,117
The key pillars outlined above are set out in Aegon’s Global
11
annual_report
SwissLifeHoldingAG-AR_2019
1,423
Number of part-time employees 1 953 1 528 1 380 1 285 AR, p. 126
15
annual_report
4847
1,375
Cash and investments totaled $53 million at December 31, 2013, as compared to $43 million at December 31, 2012. Funds for future capital expenditures, including acquisitions of new properties, renovations and working capital requirements are expected to be provided from operations, newly incurred debt, existing cash balances and advances or capital contributions from us.
54
10K
3712
916
During 2009, we intend to retain sufficient capital in our traditional U.S. insurance subsidiaries to maintain a weighted average RBC ratio in excess of our stated long-term objective of 300 percent. We also intend to maintain our leverage ratio at or slightly below our target levels and maintain, as a minimum threshold, liquidity at our holding companies sufficient to cover one year of fixed charges, measured as interest expense plus common stock dividends.
73
10K
922
610
The Company has a disaster recovery plan, which is intended for use in connection with extraordinary events such as natural disasters. However, it could be implemented in the case of certain Year 2000 failures such as a public utilities failure. The disaster recovery plan contemplates the operation of certain critical portions of the Company from remote locations for certain limited periods of time. The Company has tested its information technology systems at such remote locations in order to determine that they would be
83
10K
PhoenixGroupHoldingsPLC-AR_2015
523
This involves a valuation in line with Solvency II principles of the Group’s own funds and a risk based assessment using an internal model of the Group’s solvency capital requirements (‘SCR’).
31
annual_report
4416
1,535
Outpatient surgeries represent the number of surgeries performed at hospitals or ambulatory surgery centers on an outpatient basis (patient overnight stay not necessary).
23
10K
StandardLifeAberdeenPLC-AR_2013
323
New business performance Total UK and Europe PVNBP sales increased by 28% to £19,076m (2012: £14,935m). This was against a backdrop of subdued, although improving, retail consumer sentiment and ongoing economic uncertainly and a continually evolving market environment following the introduction of RDR. Sales of corporate pensions increased by 73% benefiting from the implementation of auto enrolment and the strength of our propositions for the workplace pension market.
68
annual_report
4931
597
Commission income, fees and managing general agent revenue for 2013 increased $16.0 million, or 26.1%, compared with 2012. Policyholder fees increased $14.7 million, or 70.8%, due to the higher overall volume of premiums written and a change in mix of states. Managing general agent revenue is related to the Texas county mutual book of business that we manage, but no longer assume the underwriting risk beginning January 1, 2013.
69
10K
BaloiseHoldingLtd-AR_2017
1,423
3.11.5 Derivative financial instruments that do not qualify as hedges changes in the fair value of derivative financial instruments that do not qualify as hedges are recognised in the income statement as “realised gains and losses on investments”.
38
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2004
1,315
Low investment returns will require profitable underwriting in reinsurance and primary insurance also in 2005, as well as moderate bonuses for life insurance policyholders. Our actions will be determined not only by adequate prices and conditions but also by the further integration of the various modules of our risk management and the introduction of an enhanced process and system landscape.
60
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2011
654
the Munich Reinsurance canada non-life group – Munich Reinsurance company of canada and temple insurance company – again made a positive contribution to the result, despite a large loss at slave lake in alberta, involving the destruction of several hundred houses in the town by a wildfire. our primary insurance subsidiary temple insurance company currently has a premium income of can$ 158m (182m), thus contributing 44.6% to the premium volume of our canadian non-life group.
75
annual_report
ASRNederlandNV-AR_2011
1,094
Claims frequency, size of claim and inflation To mitigate the risk of claims, ASR bases the underwriting policy on claims history and risk models. The policy is applied to each client segment and to each type of activity. In order to limit claims and/or ensure that prices are adjusted correctly, the acceptance policy is continually refined by reference to a number of indicators and statistical analyses. The product lines also use knowledge or expectations with respect to future trends to estimate the frequency, size and inflation of claims. The risk of unexpected major damage claims is contained by policy limits, concentration of risk management and specific risk transfer contracts (e.g. reinsurance).
111
annual_report
SwissReAG-AR_2009
2,642
Sum of the claims paid and claim adjustment expenses in relation to premiums earned, both of which are net of unit-linked and with-profit business.
24
annual_report
4653
1,799
The loss ratio in 2011 was 97.7% compared to 60.7% in 2010. The increase in the loss ratio is attributable to a high frequency of catastrophe losses in 2011 with $253.7 million from the Japanese earthquake and tsunami, $109.2 million from U.S. storms (including Hurricane Irene), $73.3 million from the New Zealand earthquake, $65.7 million from the Thai floods, $22.3 million from the Australian floods and $28.3 million from other natural catastrophes (U.S., Scandinavian and Asian weather-related events). All losses are net of reinsurance recoveries but before reinstatement premiums and tax. The increase in losses has been partly mitigated by a $6.7 million increase in prior year reserve releases compared to 2010.
112
10K
3085
830
Mortgage Loans. Mortgage loans consist primarily of commercial mortgage loans on real estate. At December 31, 2006, commercial mortgage loans aggregated to $10,090.3 million. Commercial mortgage loans are generally reported at cost adjusted for amortization of premiums and accrual of discounts, computed using the interest method, and net of valuation allowances. Commercial mortgage loans held for sale are carried at the lower of cost or fair value, less cost to sell, and reported as mortgage loans in the statements of financial position.
82
10K
4970
2,694
Net reserve for losses and loss expenses at December 31, 2014-Sensitivity to loss emergence patterns
15
10K
ScorSE-AR_2009
1,125
Claude Tendil, a French citizen, began his career at UAP in 1972. He joined the Drouot Group in 1980 as Chief Operating Officer; he was promoted in 1987 to Chief Executive Officer, and then was appointed Chairman and Chief Executive Officer of Présence assurances, a subsidiary of the Axa Group. In 1989, he was appointed Director and Chief Executive Officer of Axa-Midi assurances, Chief Executive Officer of Axa from 1991 to 2000, then Vice-chairman of the management board of the Axa Group until November 2001. During this same period, he is also Chairman and Chief Executive Officer of the Axa Group’s French insurance and assistance companies. Claude Tendil was appointed Chairman and Chief Executive Officer of the Generali Group in France in April 2002 and Chairman of the Europ Assistance Group in March 2003.
134
annual_report
5134
1,879
Under the facilities, we provide collateral that may consist of equity securities, repurchase agreements, restricted cash, and cash and cash equivalents. As of December 31, 2015, total cash and cash equivalents with a fair value of $270.8 million (December 31, 2014 - $219.0 million) was pledged as security against the letters of credit issued. Our ability
56
10K
SwissReAG-AR_2019
2,275
Opportunities related to physical risks in our re/insurance business Since most of our re/insurance contracts are renewed on an annual basis, we can offer our clients effective natural catastrophe protection that can help them cope with current climate risks. The same applies to our weather insurance solutions.
47
annual_report
1015
379
During the year ended December 31, 1998, HealthPlan Services sold 370,711 of its shares of Medirisk, Inc. stock and all 200,000 of its shares of Health Risk Management, Inc. stock, resulting in gains of $5.2 million and $0.2 million, respectively. On September 11, 1998, HealthPlan Services sold its 50% interest in SHPS to Sykes for $30.6 million and recognized a gain on the sale of SHPS of $27.9 million.
69
10K
gb_lloyds_banking_grp-AR_2019
3,525
Measurement Operational resilience risk is managed across the Group through the Group’s enterprise risk management framework and Operational risk policies. The Group’s enterprise risk management framework includes a risk and control self-assessment process, risk impact likelihood matrix, key risk and control indicators, risk appetite, a robust incident management and escalation process, scenario analysis and an operational losses process. Board risk appetite metrics are in place and are well understood. These specific measures are subject to ongoing monitoring and reporting, including a mandatory review of thresholds on at least an annual basis. To strengthen the management of operational resilience risk, the Group mobilised an operational resilience enhancement programme which is designed to focus on end to end resilience and the management of key risks to critical processes.
126
annual_report
AdmiralGroupPLC-AR_2019
1,151
• The trend is similar for profit commission which improved to £112.2 million (2018: £95.0 million). Underlying profit commission improved by £44.5 million, primarily as a result of the favourable development of prior underwriting years 1 Refers to percentage points
40
annual_report
PhoenixGroupHoldingsPLC-AR_2020
2,671
• For the avoidance of doubt, such buy-out awards are not subject to a formal cap.
16
annual_report
3564
1,088
During the year ended December 31, 2007, 74.5%, 24.1% and 1.4% of the premiums we underwrote were for homeowners’ property and casualty insurance, commercial general liability insurance and personal automobile insurance, respectively. During the year ended December 31, 2006, 74.9%, 21.1% and 4.0% of the premiums we underwrote were for homeowners’ property and casualty insurance, commercial general liability insurance and personal automobile insurance, respectively. We internally process claims made by our insureds through our wholly owned claims adjusting company, Superior.
80
10K
StandardLifeAberdeenPLC-AR_2015
2,080
Premiums invested in term funds were placed on deposit at rates of interest guaranteed for a selected term. The rate offered depended on financial conditions at the time of deposit. Proceeds at the end of a guarantee period could be reinvested at the then current rates. The components of contracts invested in term funds were classified as non-participating investment contracts, for all contracts sold prior to May 2014. Individual Ideal Savings term funds issued after 1 May 2014 had an accidental death benefit in the contract, and were therefore classified as non-participating insurance contracts.
94
annual_report
5412
1,554
In 2005, we established a private foundation, now named The Selective Insurance Group Foundation (the "Foundation"), under Section 501(c)(3) of the Internal Revenue Code. The Board of Directors of the Foundation is comprised of some of the Parent's officers. We made less than $0.1 million of contributions and no contributions to the Foundation in 2017 and 2016, respectively. We made contributions to the Foundation in the amount of $1.0 million in 2015.
72
10K