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5047
628
As of May 31, 2015 the Company has chosen to defer payment of dividends on Series A Preferred Stock with such accrued and unpaid dividends amounting to $1,005,679 through May 31, 2015. These dividends are included in the amounts reported on the face of the balance sheet for each classification of Series A stock.
54
10K
SwissLifeHoldingAG-AR_2019
2,428
TOTAL DERIVATIVES DESIGNATED AS NET INVESTMENT HEDGES 40 5 4 217 9 –
13
annual_report
4095
2,649
We also enter into agreements to purchase goods and services in the normal course of business; however, these purchase obligations are not material to our consolidated results of operations or financial position as of December 31, 2009.
37
10K
AdmiralGroupPLC-AR_2019
3,671
As detailed in the Remuneration Committee Report, the key elements of employee remuneration are: • Base salaries and pension contributions; • Share based incentive plans; • A discretionary bonus, the ‘DFSS Bonus’, rather than an annual cash bonus, that is directly linked to the number of DFSS awards held and actual dividends paid out to shareholders.
56
annual_report
4654
679
During fiscal year 2012, we responded to several RFPs and invitations to negotiate with respect to new business, including proposals to serve dual eligible populations and applications to participate in the Centers for Medicare and Medicaid Services, or CMS', Capitated Financial Alignment Demonstration project. On August 27, 2012, our Ohio health plan was chosen to participate in the Southwest, West Central, and Central markets under the Ohio Integrated Care Delivery System, or ICDS. The Ohio ICDS is intended to improve care coordination for individuals enrolled in both Medicaid and Medicare. The selection of our Ohio health plan was made by the Ohio Department of Jobs and Family Services, or ODJFS, pursuant to the request for applications for qualified health plans to serve in the ICDS issued in April 2012. The commencement of the ICDS is subject to the readiness review of the selected health plans, and the execution of three-way provider agreements between the health plans, ODJFS, and CMS. Enrollment of dual eligible members in the ICDS is expected to begin during the second half of 2013.
177
10K
AvivaPLC-AR_2020
4,987
The interest received on these loans is £89 million (2019: £92 million). See note A.
15
annual_report
4079
869
On February 22, 2010, the Company received a temporary waiver of any event of default as of March 31, 2010 related to the fixed charge coverage ratio covenant in the Company’s credit agreement through May 1, 2010. The Company determined the temporary waiver was required as it related to the special cash dividend declared by the Company’s Board of Directors on February 22, 2010 since the Company intends to a fund a portion of the special dividend through borrowings under this credit agreement. If the Company does not renegotiate its credit agreement by May 1, 2010 or receive an extension of the temporary waiver of event of default, the Company will be in default under the terms of the credit agreement which could result in the acceleration of amounts due under the credit agreement.
134
10K
fr_axa-AR_2009
11,482
As a consequence of the aforementioned, the shareholders: ■ N ote that the functions of the members of the Supervisory
20
annual_report
AvivaPLC-AR_2009
2,973
Unit trusts and specialised investment vehicles 28,684 3,106 (382) (2) 31,406 Derivative financial instruments — 1,609 — — 1,609 Deposits with credit institutions 847 — — — 847 Minority holdings in property management undertakings 977 — — — 977 Other long-term investments 1,465 249 (57) — 1,657 Other short-term investments 4 — — — 4
55
annual_report
ScorSE-AR_2014
2,978
As at 31 December 2014, SCOR held indirectly shares or units in the following companies, which represent at least 10% of the consolidated net assets or generate at least 10% of the consolidated net profit or loss.
37
annual_report
2463
5,920
If PXRE Bermuda becomes subject to insurance statutes and regulations in jurisdictions other than Bermuda or there is a change to Bermuda law or regulations or application of Bermuda law or regulations, there could be a significant and negative impact on our business.
43
10K
de_allianz-AR_2011
619
◾ endowment ◾ Annuity ◾ term ◾ disability ◾ investment-oriented products ◾ private health insurance
15
annual_report
AegonNV-AR_2008
2,604
As a result the combined investments under the new Credit Name were above the policy limit. The second breach was caused by the downgrading of one reinsurer. AEGON’s Group Risk and
31
annual_report
RaiffeisenBankInternationalAG-AR_2019
896
(7) Pursuant to § 169 of the Austrian Stock Corporation Act (AktG), the Management Board has been authorized since the Annual General Meeting of 13 June 2019 to increase the share capital with the approval of the Supervisory Board – in one or more tranches – by up to € 501,632,920.50 through issuing up to 164,469,810 new voting common bearer shares in exchange for contributions in cash and/or in kind (including by way of the right of indirect subscription by a bank pursuant to § 153 (6) of the AktG) by 2 August 2024 at the latest and to fix the offering price and terms of the issue with the approval of the Supervisory Board. The Management Board is further authorized to exclude shareholders’ subscription rights with the approval of the Supervisory Board (i) if the capital increase is carried out in exchange for contributions in kind, or (ii) if the capital increase is carried out
156
annual_report
AvivaPLC-AR_2016
9,404
Group Solvency II Surplus at 1 January 2016 9.7 Operating Capital Generation 3.5 Non-operating Capital Generation (1.4) Dividends (1.0) Foreign exchange variances 0.6 Hybrid debt issuance 0.4 Acquired/divested business (0.3)
30
annual_report
AegonNV-AR_2015
4,378
Aegon Americas mitigates the exposure from the elective guaranteed minimum withdrawal benefit rider issued with a ceding company’s variable annuity contracts. The rider is essentially a return of premium guarantee, which is payable over a period of at least 14 years from the date that the policyholder elects to start withdrawals. At contract inception, the guaranteed remaining balance is equal to the premium payment. The periodic withdrawal is paid by the ceding company until the account value is insufficient to cover additional withdrawals. Once the account value is exhausted, Aegon pays the periodic withdrawals until the guaranteed remaining balance is exhausted. At December 31, 2015, the reinsured account value was EUR 2.5 billion (2014: EUR 2.6 billion) and the guaranteed remaining balance was EUR 1.7 billion (2014: EUR 1.7 billion).
130
annual_report
AegonNV-AR_2010
4,744
Assets held by long-term employee benefit funds are part of plan assets. These are assets (other than non-transferable financial instruments issued by the reporting entity) that: � Are held by an entity that is legally separate from the reporting entity and exists solely to pay or fund employee benefi ts; and
51
annual_report
5547
1,574
Included within others is our investments in the real estate debt fund which we measure fair value by obtaining the most recently available NAV from the external fund manager or third-party administrator. The fair value of this investment is measured using the NAV as a practical expedient and therefore has not been categorized within the fair value hierarchy.
58
10K
HannoverRueckSE-AR_2015
1,857
Hannover Life Re AG, Hannover / Germany 1, 2 100.00 EUR 1,873,188 –
13
annual_report
de_allianz-AR_2009
2,313
Available-for-sale equity securities are measured at fair value where the ownership interest is less than 20 % and when the fair value is reliably measurable. Available-forsale equity securities include investments in limited partnerships. The Allianz Group records its investments in limited partnerships at cost, where the ownership interest is less than 20 %, and when the limited partnerships do not have a quoted market price and fair value cannot be reliably measured. In general, the Allianz Group accounts for its investments in limited partnerships with ownership interests of 20 % or greater using the equity method due to the rebuttable presumption that the limited partner has no control over the limited partnership.
112
annual_report
3838
905
Federal income tax expense was $8.2 million and $14.2 million for 2008 and 2007, respectively. The effective tax rate was 20.8% and 28.8% for 2008 and 2007, respectively. The 2007 effective tax rate was impacted by an unusually high amount of taxable income in the period caused by the retaliatory tax refund, which increased the effective tax rate. The 2008 effective tax rate was impacted by the higher level of other than temporary investment impairments, which caused tax-advantaged income (municipal bond interest) to represent a higher proportion of income, reducing the effective tax rate.
94
10K
NatixisSA-AR_2016
10,407
Meeting to be held at 3 p.m. on May 23, 2017 at Palais Brongniart, 28 Place de la Bourse – 75002 Paris.
22
annual_report
4913
1,615
The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at December 31, 2013 (dollars in millions):
51
10K
SwissLifeHoldingAG-AR_2010
3,050
INSURANCE FRANCE — Swiss Life in France posted a segment result of CHF 82 million. Adjusted for the negative one-off effect of pension reform (CHF 80 million), this represents an increase of 10% in local currency terms. This is mainly attributable to the improved financial margin and efficiency gains, achieved through strict cost discipline.
54
annual_report
INGGroepNV-AR_2009
3,996
By Currency Euro –1,811 –2,140 US Dollar –39 –238 Pound Sterling –53 –41 Other 68 –11 Total –1,835 –2,430
19
annual_report
2656
1,269
The following table summarizes the net impact of reinsurance arrangements on premiums and benefits, claims, losses and settlement expenses, and selling, general and administrative expenses:
25
10K
fr_axa-AR_2011
3,940
Chief Executive Offi cer for the Northern, Central and Eastern Europe business unit and Global Head of Life & Savings and Health earnings - net income per share
28
annual_report
AegonNV-AR_2007
192
AEGON offers a range of property and casualty insurance in both the Netherlands and Hungary.
15
annual_report
4747
930
The Company manages its business through two business segments: Insurance Operations, which includes the operations of United National Insurance Company, Diamond State Insurance Company, United National Specialty Insurance Company, Penn-America Insurance Company, Penn-Star Insurance Company, Penn-Patriot Insurance Company, American Insurance Adjustment Agency, Inc., Collectibles Insurance Services, LLC, Global Indemnity Insurance Agency, LLC, and J.H. Ferguson & Associates, LLC, and Reinsurance Operations, which includes the operations of Wind River Reinsurance Company, Ltd.
71
10K
RSAInsuranceGroupPLC-AR_2017
2,735
Performance Share Plan This plan is the Group’s current Long-Term Incentive Plan. Awards of performance shares to executive directors and other selected executives and senior managers are subject to performance conditions. These consist of the Group’s underlying return on tangible equity; relative total shareholder return; and business scorecard / business review scorecard targets over a three year performance period. Typically awards vest on the third anniversary of the date of grant to the extent that the performance conditions have been met.
81
annual_report
3912
1,548
Fair value is defined as the price that would be received in connection with the sale of an asset or that would be paid to transfer a liability. In determining an exit market in accordance with SFAS No.157, we consider the fact that most of our derivative contracts are unconditional and irrevocable, and contractually prohibit us from transferring them to other capital market participants. Accordingly, there is no principal market for such highly structured insured credit derivatives. In the absence of a principal market, we value these insured credit derivatives in a hypothetical market where market participants include other monoline mortgage and financial guaranty insurers with similar credit quality to us, as if the risk of loss on these contracts could be transferred to these other mortgage and financial guaranty insurance and reinsurance companies. We believe that in the absence of a principal market, this hypothetical market provides the most relevant information with respect to fair value estimates.
158
10K
5493
3,735
At December 31, 2017, the Company had a receivable from Brighthouse of $97 million related to services provided and a payable to Brighthouse of $50 million related to services received.
30
10K
4051
3,371
•Long-Lived Assets: AIG tests its long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of a long-lived asset may not be recoverable. AIG measures the fair value of long-lived assets based on an in-use premise that considers the same factors used to estimate the fair value of its real estate and other fixed assets under an in-use premise.
63
10K
4277
1,109
We have expended significant financial resources in connection with the investigations and related matters. Since the inception of these investigations through December 31, 2010, we have incurred a total of approximately $202.1 million for administrative expenses associated with, or consequential to, these governmental and Company investigations specifically for legal fees, accounting fees, consulting fees, employee recruitment and retention costs and other similar expenses, prior to any insurance recoveries.
68
10K
ASRNederlandNV-AR_2018
1,657
In line with policy, the Committee advised the Supervisory Board on target-setting, performance appraisals and the ex-post assessments of variable payments awarded to identified staff. At the beginning of 2018, the remuneration policy was updated in line with new regulations and the Remuneration Committee discussed the implementation of the remuneration policy for a.s.r.’s subsidiaries and participations. The results of the internal audit report on the application of a.s.r.’s remuneration policy were discussed.
72
annual_report
649
252
The uncertainties relating to asbestos and toxic waste claims on insurance policies written many years ago are exacerbated by judicial and legislative interpretations of coverage that in some cases have tended to erode the clear and express intent of such policies and in other cases have expanded theories of liability. The industry is engaged in extensive litigation over these coverage and liability issues and is thus confronted with a continuing uncertainty in its efforts to quantify these exposures.
78
10K
SwissReAG-AR_1985
326
Casti in hand, postal bank account, bank balances Current-account balances Cash deposits
12
annual_report
1063
406
Our accompanying financial statements include the operating results of businesses to be disposed of or discontinued in connection with the operational realignment. The losses anticipated on the disposition of these businesses, including severance, impairment of assets, abandoned facilities and additional exit costs, represent approximately $175 million and are included in the $725 million of operational realignment and other charges. Our accompanying Consolidated Statements of Operations include revenues and operating losses from these businesses as follows (in millions):
77
10K
SwissReCorporateSolutions-AR_2015
136
In August 2014, the FASB issued ASU 2014-14, “Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure”, an update to subtopic 310-40, “Receivables — Troubled Debt Restructurings by Creditors”. ASU 2014-14 affects creditors that hold government-guaranteed mortgage loans. The ASU requires that a mortgage loan be derecognised and that a separate other receivable be recognised upon foreclosure if specific conditions are met, including that the guarantee is not separable from the loan before foreclosure. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance expected to be recovered from the guarantor. The Group adopted ASU 2014-14 on 1 January 2015. The adoption did not have an effect on the Group’s financial statements.
118
annual_report
4074
2,980
The value of our investment in Cartesian Iris 2009A L.P. is based on our shares of the capital position of the partnership which includes income and expenses reported by the limited partnership as provided in its quarterly management accounts. Cartesian Iris 2009A L.P. is subject to annual audit evaluating the financial statements of the partnership. We periodically review the management accounts of Cartesian Iris 2009A L.P. and evaluate the reasonableness of the valuation of our investment.
76
10K
AegonNV-AR_2018
7,982
Customer investments in ethical or socially responsible investment (SRI) funds ●
11
annual_report
3208
1,593
Life policy acquisition costs include commissions and certain other expenses that vary with and are primarily associated with acquiring business. Present value of future profits (“PVFP”) is an intangible asset recorded upon applying purchase accounting in an acquisition of a life insurance company. Deferred policy acquisition costs and the present value of future profits intangible asset are amortized in the same way. Both are amortized over the estimated life of the contracts acquired. Within the following discussion, deferred policy acquisition costs and the present value of future profits intangible asset will be referred to as “DAC”. At December 31, 2006 and December 31, 2005, the carrying value of the Company’s Life DAC asset was $9.1 billion and $8.6 billion, respectively. Of those amounts, $4.4 billion and $4.5 billion related to individual variable annuities sold in the U.S., $1.4 billion and $1.2 billion related to individual variable annuities sold in Japan and $2.1 billion and $1.9 billion related to universal life-type contracts sold by Individual Life.
165
10K
4955
964
• inability to sell investment assets to provide cash to fund operating needs;
13
10K
PhoenixGroupHoldingsPLC-AR_2012
1,360
The IASB has issued the following standards, interpretations and amendments which, subject to adoption for use by the EU, apply from the dates shown. The Group has decided not to early adopt any of these standards, interpretations or amendments where this is permitted. The impact on the Group of adopting them is subject to evaluation: − IFRS 9 Financial Instruments (2015). This is the first two parts of a replacement standard for IAS 39 Financial Instruments: Recognition and Measurement and deals with the classification and measurement of financial assets and financial liabilities, including some hybrid contracts.
96
annual_report
2524
1,207
As part of the Agreement, LMC placed into trust (the “Trust”) an amount equal to 10% of the balance sheet reserves of KEIC at the date of sale. Thereafter, the Trust shall be adjusted each quarter, if warranted, to an amount equal to 102% of LMC’s obligations under the Agreement. The initial estimate of KEIC’s loss reserves was approximately $16.0 million.
61
10K
GjensidigeForsikringASA-AR_2020
3,421
Guidelines for remuneration and career development shall be linked to achievement of the Group’s strategic and financial goals and core values, and both quantitative and qualitative targets shall be taken into consideration. The measurement criteria shall promote the desired corporate culture and longterm value creation, and, as far as possible, take actual capital costs into account. The remuneration system shall contribute to promoting and providing incentives for good risk management, sustainable value creation, prevent excessive risk-taking and contribute to avoiding conflicts of interest. A fixed basic salary shall be the main element of the overall remuneration, which also consists of variable remuneration, pension, insurance and payments in kind. Variable remuneration shall be used to reward performances that is agreed through performance agreements or that exceeds expectations, where both results and behaviour in form of compliance with the core values, brand and management principles are to be assessed.
147
annual_report
2985
916
The combined effects of the GMDB reserve requirements and related unlocking adjustments from implementation of SOP 03-1 resulted in a charge to net income for the cumulative effect of accounting change of $34 million pre-tax ($22 million after-tax) in 2004.
40
10K
NatwestGroupPLC-AR_2012
6,338
The following table shows additional information in respect of loan impairment provisions. 2012 £m 2009 £m £m
17
annual_report
HelvetiaHoldingAG-AR_2015
1,341
The carrying values of financial assets that are not classified as “at fair value through profit or loss” (LAR, HTM, AFS) are regularly reviewed for impairment. If objective and substantial evidence indicates permanent impairment at the reporting date, the difference between cost and the recoverable amount is recognised as an impairment through profit or loss. An equity instrument is impaired if its fair value is considerably or constantly below cost (see also section 2.6, page 115). Debt instruments are impaired or sold if it is probable that not all amounts due under the contractual terms will be collectible.
98
annual_report
RaiffeisenBankInternationalAG-AR_2017
1,498
Net realized gains (losses) on financial assets not measured at fair value through profit and loss 11,342 10,008
18
annual_report
4404
1,289
See Item 8. “Financial Statements and Supplementary Data - Note 2, Significant Accounting Policies, of Notes to Consolidated Financial Statements” contained within this report for a discussion of recently issued accounting pronouncements, none of which are expected to have a material impact on our future financial condition, results of operations or cash flows.
53
10K
AvivaPLC-AR_2016
5,281
Carrying amount at 31 December 24,554 18,996 1 The other movements in 2015 include the reclassification of the UK Life staff pension scheme investments in Blackrock and Schroder life insurance funds from investments to reinsurance assets. The movement during 2016 includes the reclassification of UK Life investments in certain life insurance funds from unit trusts and other investment vehicles (financial instruments) to reinsurance assets.
64
annual_report
4977
1,187
See “- Summary of Critical Accounting Estimates - Estimated Fair Value of Investments” for further information on the estimates and assumptions that affect the amounts reported above.
27
10K
StandardLifeAberdeenPLC-AR_2019
697
Tax expense from continuing operations The total IFRS tax expense attributable to the profit for the year was £28m (2018: £43m) including a credit of £41m (2018: credit £52m) relating to adjusting items. The effective tax rate on total IFRS profit is 11.5% (2018: negative 5.5%). The main factors that have caused the effective tax rate to be below the UK rate of corporation tax of 19% are: • The gains arising from the sales of shares in HDFC Life did not give rise to taxable gains due to reliefs available under India’s tax legislation and its international tax treaties, and the long-term capital gain arising from the sale of shares in HDFC Asset Management was subject to tax in India at a lower rate than the UK corporation tax rate
131
annual_report
4688
1,249
Total equity reported on the balance sheet, which includes non-controlling interest, increased by $225.9 million to $1,086.3 million as of December 31, 2013, compared to $860.4 million as of December 31, 2012. Retained earnings increased due to net income of $225.7 million reported for the year ended December 31, 2013, while the non-controlling interest decreased by $4.0 million primarily due to withdrawal of funds by DME Advisors from the joint venture during the year ended December 31, 2013. The increase in additional paid-in capital of $4.2 million related to stock compensation expense and from stock options exercised during the year ended December 31, 2013.
104
10K
fr_axa-AR_2002
2,952
– Net investment hedges. The change in fair value of the derivative or non-derivative instrument attributable to the effective portion of the foreign currency hedge, together with the associated foreign exchange gain or loss on the hedged item, is recorded in a component of “other comprehensive income” as a part of the cumulative foreign translation adjustment. The change in fair value of the derivative attributable to the ineffective portion of the hedge is recorded in income.
76
annual_report
AegonNV-AR_2004
539
AEGON The Netherlands is maximizing the opportunities created by these new developments with new, innovative products, concepts and propositions to address the various needs of increasingly discerning clients, with a wider array of needs.
34
annual_report
DirectLineInsuranceGroupPLC-AR_2017
144
All this leads to a high level of employee engagement, which rose again in 2017. Our full engagement score has gone up to 78% (five points higher than last year and 33 points higher than when we first ran the survey in 2014) and over 9,200 people (87%) took part in our DiaLoGue colleague survey this year. We are grateful that so many people participated, and we’re delighted that our efforts in engaging and motivating our colleagues – who, importantly, our internal survey indicates feel that they are listened to and respected – continue to pay off. We want them to know that what they think and what they do really matters to the company.
115
annual_report
GjensidigeForsikringASA-AR_2016
894
Development during the year The underwriting result increased to NOK 1,631.3 million (1,440.8). The increase in the underwriting result was driven by premium growth combined with a somewhat more favourable underlying frequency claims level and higher run-off gains. The combined ratio was 77.5 (79.6).
44
annual_report
NatixisSA-AR_2014
6,874
Bleachers fi nance (11) Securitization vehicle FC 100 0 0 0 United States
13
annual_report
NatixisSA-AR_2015
9,304
The purpose of resolution nineteen is to allow awards of free shares under Natixis group’s long-term incentive programs. The award of shares will become fi nal only at the end of a vesting period, of no less than three (3) years, to be established by the Board of Directors. Where appropriate, the duration of the benefi ciaries’ obligation to hold shares will be set by the Board of Directors.
69
annual_report
4101
887
Operating income increased $7.2 million, or 5.6%, for the year ended December 31, 2008, compared to the year ended December 31, 2007, primarily due to lower operating expenses on the Chase Insurance Group block and improved mortality results, partially offset by expected runoff of the block of business.
48
10K
SwissReAG-AR_1996
854
ties used fo r ow n purposes is inc luded in these expenses as w e ll as in incom e from land and buildings.
25
annual_report
HannoverRueckSE-AR_2011
2,967
ural hazards models for the main perils in the United States and Europe as well as from demand prompted by Solvency II
22
annual_report
AdmiralGroupPLC-AR_2012
944
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.
99
annual_report
3130
703
Our capital structure as of December 31, 2006 and 2005, was as follows (dollars in millions):
16
10K
de_allianz-AR_2003
1,679
Bank’s trading activities increased slightly compared to the previous year. This is mainly due to the fact that positions for interest -bearing instruments were built up moderately.
27
annual_report
1812
285
Insurance premium income is recognized on a daily pro rata basis over the respective terms of the policies in-force and unearned premiums represent the portion of premiums written which are applicable to the unexpired terms of policies in-force.
38
10K
AvivaPLC-AR_2016
1,541
Key issues and judgements ` Challenged estimates and judgements for International Financial Reporting Standards (IFRS) and SII reporting bases. IFRS judgements covered goodwill and intangible assets, restructuring provisions and reserving for insurance contracts, including the impact of Brexit on property growth assumptions and the valuation of unquoted investments. SII judgements focused on the valuation of own funds and capital.
59
annual_report
4888
1,428
The criteria for payment of the 2013 performance awards is based on PLC’s average operating ROE over a three-year period. If PLC’s ROE is below 10.0%, no award is earned. If PLC’s ROE is at or above 11.5%, the award maximum is earned.
43
10K
2583
1,126
Pursuant to the Credit Facility, as long as the interest coverage ratio (as defined in the Credit Facility) is less than 4.0:1.0, the Company is required to make mandatory prepayments with all or a portion of the proceeds from the following transactions or events including: (i) the issuance of certain indebtedness; (ii) equity issuances; (iii) certain asset sales or casualty events; and (iv) excess cash flows as defined in the Credit Facility. The Company may make optional prepayments at any time in minimum amounts of $3.0 million. In the event that the Company refinances or otherwise repays in full the Credit Facility prior to June 22, 2005, we will incur a one percent prepayment fee on the remaining principal balance of the Credit Facility.
124
10K
5631
440
Other investments primarily comprise $620 million of agent loans (loans issued to exclusive Allstate agents), $422 million of bank loans, $228 million of real estate and $23 million of derivatives as of December 31, 2018. For further detail on our use of derivatives, see Note 7 of the consolidated financial statements.
51
10K
5821
1,120
As disclosed in Note 4 to the condensed consolidated financial statements, with respect to “Fair Value Measurements,” we define fair value as the price that would be received to sell an asset or paid to transfer a liability in a transaction involving identical or comparable assets or liabilities between market participants (an “exit price”). The fair value hierarchy distinguishes between inputs based on market data from independent sources (“observable inputs”) and a reporting entity’s internal assumptions based upon the best information available when external market data is limited or unavailable (“unobservable inputs”). The fair value hierarchy prioritizes fair value measurements into three levels based on the nature of the inputs. Quoted prices in active markets for identical assets have the highest priority (“Level 1”), followed by observable inputs other than quoted prices including prices for similar but not identical assets or liabilities (“Level 2”), and unobservable inputs, including the reporting entity’s estimates of the assumption that market participants would use, having the lowest priority (“Level 3”). As of December 31, 2020 and December 31, 2019, 81% and 80%, respectively, of the investment portfolio recorded at fair value was priced based upon quoted market prices.
194
10K
SwissReAG-AR_2005
1,207
The Investor Relations unit at Swiss Re is responsible for managing all contacts with investors and analysts. For contact information, please see the back cover of the Business Report 2005.
30
annual_report
de_allianz-AR_2001
1,624
Allianz Guangzhou Representative Office RM 1234-7 Garden Tower Garden Hotel Huanshi Donglu 368 Guangzhou 510064
15
annual_report
RaiffeisenBankInternationalAG-AR_2006
385
Detailed review of items in the income statement The results compared with the preceding year are influenced by changes in the scope of consolidation. Raiffeisen Bank Aval was consolidated for the first time in the fourth quarter of 2005 and is therefore only included in the preceding year for three months. Impexbank was initially consolidated into the Group in May 2006, and eBanka in November 2006. Finally, Raiffeisenbank Ukraine is only taken into account in the income statement up to the beginning of November 2006. The year’s gain on deconsolidations is shown on the line income from disposal of group assets of its own in the income statement.
108
annual_report
StandardLifeAberdeenPLC-AR_2016
3,960
Opening AUM at 1 Jan 2016 Gross flows Redemptions Net flows
11
annual_report
1147
129
Management's Discussion and Analysis of Financial Condition and Results - -------------------------------------------------------------------------------- of Operations --------------
14
10K
INGGroepNV-AR_2015
2,593
In 2014, Transfers and reclassifications included transfers of investments in real estate funds from Available-for-sale investments to Associates and joint ventures and the transfer of the investment in SulAmérica S.A. from Associates and joint ventures to Availablefor -sale investments, both following changes in ownership interests.
45
annual_report
1853
722
Premium revenues generated from American Country's other commercial lines decreased significantly in 2001 to $5.6 million from $13.8 million for 2000, a 59.3% decrease. This decrease is primarily
28
10K
2884
3,466
Aon's international pension plan asset allocation at December 31, 2005 and 2004 is as follows:
15
10K
5426
675
The claim loss provision for title insurance was $238 million, $157 million, and $246 million for the years ended December 31, 2017, 2016, and 2015, respectively. These amounts reflected average claim loss provision rates of 4.9% for 2017, 3.3% for 2016, and 5.7% of title premiums for 2015. The decrease in the provision in 2016 reflects the release of excess title reserves of $97 million as well as the reduction in the loss provision rate from 5.5% to 5.0% in the fourth quarter of 2016. The release of excess reserves and change in provision rate was due to analysis of historical ultimate loss ratios, the reduced volatility of development of those historical ultimate loss ratios and lower policy year loss ratios in recent years. We will continue to monitor and evaluate our loss provision level, actual claims paid, and the loss reserve position each quarter.
145
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2003
1,360
Life and health Property-casualty 31.12.2003 Prev. year 31.12.2003 Prev. year €m €m €m €m
14
annual_report
NatixisSA-AR_2014
912
With a degree from the École Polytechnique, he forged his career with Paribas from 1979 to 2000, fi rst in Paris, then New York and fi nally London.
28
annual_report
ScorSE-AR_2019
3,107
Cumulative depreciation and impairment at December 31, 2019 (191) CARRYING VALUE AS AT DECEMBER 31, 2017 702 718CARRYING VALUE AS AT DECEMBER 31, 2018
24
annual_report
2076
814
The continuation of the Chapter 11 Cases, particularly if the Plan is not approved or confirmed in the time frame currently contemplated, could further adversely affect our operations and relationship with our customers, employees, regulators, distributors and agents. If confirmation and consummation of the Plan do not occur expeditiously, the Chapter 11 Cases could result in, among other things, increased costs for professional fees and similar expenses. In addition, prolonged Chapter 11 Cases may make it more difficult to retain and attract management and other key personnel and would require senior management to spend a significant amount of time and effort dealing with our financial reorganization instead of focusing on the operation of our business. However, we currently expect that our current cash resources and additional cash flows from the operations of our non-life subsidiaries will be adequate to complete our financial reorganization if the Plan is approved in the time frame currently contemplated.
154
10K
5903
2,361
Asset management and service fees principally includes asset-based asset management fees, which are recognized in the period in which the services are performed. In certain asset management fee arrangements, the Company is entitled to receive performance-based incentive fees when the return on assets under management exceeds certain benchmark returns or other performance targets. The Company may be required to return all, or part, of such performance-based incentive fees depending on future performance of these assets relative to performance benchmarks. The Company records performance-based incentive fee revenue when the contractual terms of the asset management fee arrangement have been satisfied and it is probable that a significant reversal in the amount of the fee will not occur. Under this principle the Company records a deferred performance-based incentive fee liability to the extent it receives cash related to the performance-based incentive fee prior to meeting the revenue recognition criteria delineated above.
149
10K
RaiffeisenBankInternationalAG-AR_2020
4,716
Financial assets - fair value through other comprehensive income 435,517 3,029 218,097 4,836
13
annual_report
LloydsBankingGroupPLC-AR_2010
4,927
Wealth and International was created in 2009 to give increased focus and momentum to the Group’s private banking and asset management activities and to closely co-ordinate the management of its international businesses. Wealth comprises the Group’s private banking, wealth and asset management businesses in the UK and overseas. International comprises corporate, commercial, asset finance and retail businesses, principally in Australia and Continental Europe.
63
annual_report
RSAInsuranceGroupPLC-AR_2009
724
Prior to the approval of the LTIP, two share incentive plans were operated: The 2004 Share Matching Plan, which was designed to operate for • two years. The final awards under this plan were made in 2005 The Executive Share Option Scheme (1999 ESOS). Regular awards • under the 1999 ESOS were discontinued from 2006 and as the 1999 ESOS expired in 2009, a renewed Executive Share Option Scheme (‘new ESOS’) was adopted by the Company and approved by shareholders at the 2009 AGM. As with the 1999 ESOS, it is intended that the new plan will initially be used only in exceptional circumstances, such as executive recruitment. Performance conditions will attach to all options granted under the new ESOS, and will be determined by the Committee at the appropriate time.
131
annual_report
LloydsBankingGroupPLC-AR_2019
3,651
Expected credit loss allowance on drawn balances (4,236) (556) (1,506) (2,174)
11
annual_report
NatixisSA-AR_2005
3,149
Financing commitments given to: Financial institutions 2,023 890 687 Customers - 2 20
13
annual_report
4052
744
As of December 31, 2009, 36.9% of the investment portfolio is in corporate bonds, 34.4% is in obligations of states and political subdivisions, and 11.2% is in United States government bonds.
31
10K
5077
1,391
Adjusted operating income from our Gibraltar Life and Other operations increased $28 million including a net unfavorable impact of $39 million from currency fluctuations, inclusive of the currency hedging program discussed above. Both periods included the impact of our annual reviews and updates of assumptions and other refinements which resulted in a $15 million net charge in 2014 compared to a $108 million net charge in 2013. Results for 2014 also included a $73 million charge for reserve refinements, as discussed above. Results for 2013 also included a $66 million gain on our investment, through a consortium, in China Pacific Group, for which our remaining shares were sold in January 2013, as well as $28 million of integration costs related to the acquisition of the Star and Edison Businesses and a $23 million charge for reserve refinements.
137
10K
2611
1,305
Account balances of variable contracts with guarantees were invested in variable separate accounts in various mutual funds which included foreign and domestic equities and bonds as shown below:
28
10K
PhoenixGroupHoldingsPLC-AR_2019
141
We grow our customer base through strong distribution and proposition offerings in our chosen markets, with the Workplace channel bringing circa 280,000 new scheme members each year�
27
annual_report
SwissReAG-AR_1998
409
Investments in unconsolidated subsidiaries and affiliated companies as stated in the balance sheet 2 791 3 404
17
annual_report
INGGroepNV-AR_2014
4,557
Business Model And Risk Profile Business model ING Bank is a large, predominantly European retail bank with a strong world-class commercial banking franchise operating an extensive network with presence in over 40 countries. Next to the operations in its historical markets of the Benelux, ING Bank has developed a strong (internet) banking franchise in a number of European countries and in Asia and Australia.
64
annual_report
HannoverRueckSE-AR_2010
2,769
Cumulative value adjustments at 31 December of the year under review 35,768 72,258
13
annual_report
SwissLifeHoldingAG-AR_2017
932
Swiss Life Germany sponsors an event venue in Hanover, the Swiss Life Hall, where there have been up to 100 concerts, sporting and corporate events every year since 2005. The Swiss Life Hall has become a popular venue over the years and its reputation extends beyond Hanover.
47
annual_report