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24
145
- Policy Acquisition Costs -- Commissions and other costs of acquiring traditional life and health insurance, universal life insurance, and investment products that vary with and are primarily related to the production of new business have been deferred. Traditional life and health insurance acquisition costs are amort...
141
10K
fr_axa-AR_2006
1,604
The table below presents the International Insurance segment’s gross revenues and gross insurance liabilities by major product lines for the periods and as at the dates indicated: (in Euro million, except percentages)
32
annual_report
4644
1,892
The New Senior Secured Credit Agreement contains covenants that limit the Company's ability to take certain actions and perform certain activities, including (each subject to exceptions as set forth in the New Senior Secured Credit Agreement):
36
10K
de_allianz-AR_2010
1,439
The Allianz Group enters into various commitments including loan commitments, leasing commitments, purchase obligations and other commitments. Please refer to note 47 of our consolidated financial statements for more details.
30
annual_report
gb_prudential-AR_2011
2,027
Notes 1 Tidjane Thiam made a total gain of £665 on the exercise of SAYE options during 2011 (2010: £nil). 2 No price was paid for the award of any option. 3 The highest and lowest share prices during 2011 were 777 pence and 509 pence respectively.
47
annual_report
5339
1,216
Fair values for private, non-traded securities are determined as follows: 1) we obtain estimates from independent pricing services and 2) we estimate fair value based upon a comparison to quoted issues of the same issuer or issues of other issuers with similar terms and risk characteristics. We analyze the independent ...
109
10K
TrygAS-AR_2014
576
Tryg thus expects an overall positive capital effect in connection with the transition to Solvency II.
16
annual_report
PowszechnyZakladUbezpieczenSA-AR_2015
529
PZU Ukraina Życie Kiev PZU – 53.4723% PZU Życie – 0.0053% PZU Ukraina – 46.5224%
15
annual_report
4282
1,818
The increase in the provisions for the commercial mortgage loan loss allowance in 2010 compared to 2009 was primarily due to increases in the provisions on restructured and sixty-day delinquent commercial mortgage loans during 2010 and was primarily related to the foreclosure and restructuring of commercial mortgage lo...
131
10K
4543
2,195
We also have subsidiaries in Ireland, the United Kingdom (U.K.), Australia and Brazil. Our Ireland insurance subsidiary with branch operations in the U.K. and Australia was subject to a compliance review of the U.K. branch for 2009, by H.M. Revenue and Customs, which resulted in no significant adjustments. These subsid...
78
10K
1772
317
We undertake no obligation to publicly correct or update any forward looking statements, whether as a result of new information, future developments or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our press releases and filings with the SEC. In particular, you s...
124
10K
SwissLifeHoldingAG-AR_2017
1,177
G4-PR9 Fines due to non-compliance with respect to the provision of products p. 95 and services FINANCIAL SECTOR SPECIFIC INDICATORS Active Ownership p. 83, p. 97
26
annual_report
5584
938
There were no transfers into or out of Level 1 and Level 2 during the years ended December 31, 2018 or 2017. There were no assets or liabilities measured at fair value on a nonrecurring basis as of December 31, 2018 or 2017.
43
10K
NatixisSA-AR_2013
2,279
4.1. Risk factors 4.1.1 RISKS RELATED TO THE MACROECONOMIC ENVIRONMENT AND THE FINANCIAL CRISIS
14
annual_report
2908
805
Net investment income for the FP Investment Portfolio consisted of the following (in thousands):
14
10K
3066
880
Diluted Book Value per Share: Management uses diluted book value per share growth as a prime measure of the value the Company is generating for its common shareholders, as Management believes that growth in the Company’s diluted book value per share ultimately translates into growth in the Company’s stock price. Dilute...
134
10K
NatixisSA-AR_2007
3,798
Natixis’ entire stress test mechanism was reviewed during the year. All stress tests are calculated in the Bank’s VaR
19
annual_report
AvivaPLC-AR_2018
701
Good governance and business ethics We are committed to the highest standards of ethical behaviour as outlined by our Business Ethics Code. This underscores our commitment to operate responsibly and transparently. We require all our people, at every level, to read and sign-up to our Code every year (99% of our employee...
56
annual_report
HelvetiaHoldingAG-AR_2013
1,690
Estimated loss reserves as of 31 December 275.0 141.2 52.3 90.5 100.0 130.7 196.4 222.9 345.1 543.2 1 039.7 3 137.0
21
annual_report
4146
666
react very slowly if actual ultimate loss ratios are different from expectations due to changes not accounted for by the expected loss ratio calculation.
24
10K
5692
1,480
Adjustments to income tax expense related to pro forma adjustments and increased income tax expense related to IRS Regulation 162(m)(6).
20
10K
5683
1,928
Hybrid and redeemable preferred securities - We also utilize additional inputs of exchange prices (underlying and common stock of the same issuer) for our hybrid and redeemable preferred securities.
29
10K
3141
1,266
We conduct our worldwide reinsurance business through three operating segments: Property and Marine, Casualty and Finite Risk. In managing our operating segments, management uses measures such as underwriting income and underwriting ratios to evaluate segment performance. We do not allocate assets or certain income and...
116
10K
gb_prudential-AR_2013
1,242
Skills and experience Alice Schroeder began her career as a qualified accountant at Ernst & Young in 1980 where she worked for 11 years before leaving to join the Financial Accounting Standards Board as a manager. From September 1993, she worked at various investment banks leading teams of analysts specialising in prop...
109
annual_report
3208
1,962
For the year ended December 31, 2006, earned premiums increased as a result of two large terminal funding cases that were sold during the period. This increase in earned premiums was offset by a corresponding increase in benefits, losses and loss adjustment expenses.
43
10K
5085
1,575
During the year ended December 31, 2015, we incurred $2.5 million of property catastrophe losses related to explosions in the port of Tianjin, China. During the year ended December 31, 2014, we incurred $4.0 million of catastrophe-related losses from Hurricane Odile.
41
10K
262
122
Total consolidated revenues of $52,925,874 for 1995 increased 21% from consolidated revenues of $43,767,330 for 1994.
16
10K
PhoenixGroupHoldingsPLC-AR_2009
273
Expected existing business contribution The expected contribution on the existing business for the year ended 31 December 2009 of £95 million after tax represents the expected return on the opening MCEV using a one year gilt forward rate plus the Group’s short-term expectations of excess investment returns on equities,...
66
annual_report
5361
785
We review our securities measured at fair value and discuss the proper classification of such investments with investment advisors and others. See note 10, “Fair Value,” to our consolidated financial statements in Item 8 for a summary of our financial assets and liabilities measured at fair value at December 31, 2017 b...
54
10K
de_allianz-AR_2012
1,757
Investment portfolio as of 31 December 2012: € 507.5 bn [as of 31 December 2011: € 461.1 bn] in %
20
annual_report
5919
566
(2)Net expense ratio is calculated as all operating expenses less interest expense divided by net premiums earned.
17
10K
1668
506
2001 2000 1999 --------------- -------------- ------------- Increase (decrease) in cash and cash equivalents Cash flows from operating activities: Net income (loss) $ 2,185,607 $ (1,846,840) $ (377,957) Adjustments to reconcile net loss to net cash provided by (used in) operating activities net of changes in assets and...
207
10K
5394
900
The following table details the profit sharing commission revenue sensitivity of the Contract Binding operating unit for each effective quota share treaty at 5.0% above and below the current estimate, which we believe is a reasonably likely range of variance ($ in thousands).
43
10K
AegonNV-AR_2009
2,789
Comparative information on subprime ABS mortgage exposure by quality and vintage - 2008 figures: Market value by Quality and Vintage
20
annual_report
SwissLifeHoldingAG-AR_2004
403
Advisory Committee – Stifterverband für die Deutsche Wissenschaft, Member of the Board of Trustees
14
annual_report
DirectLineInsuranceGroupPLC-AR_2019
1,097
Biography Danuta is Chair of the Remuneration Committee. The Board benefits from her previous experience as a Chief Executive and NED (including two positions as Chairs of Remuneration Committees), significant experience in sales, marketing, customer services and technology and in leading and changing large businesses.
45
annual_report
fr_axa-AR_2015
8,360
Directors as well as the structure and composition of the Board of Directors’ Committees is set forth in Section 2.1 “Corporate offi cers, executives and employees” of this Annual Report.
30
annual_report
fr_axa-AR_2007
6,106
Balance sheet liability at the beginning of the year (6,430) (6,654) (5,666) (595) (703) (572)
15
annual_report
de_allianz-AR_2014
3,067
The U.S. Department of Justice (DOJ) is conducting an investigation into whether certain employees of Fireman’s Fund Insurance Company (FFIC), a subsidiary of Allianz SE, engaged in a violation of the False Claims Act in connection with FFIC’s involvement as a provider of federal crop insurance from 1997 to 2003. The i...
120
annual_report
fr_axa-AR_2006
2,814
Income tax expenses increased by €22 million to €–59 million, mainly as a result of higher taxable income.
18
annual_report
ch_zurich_insurance_group-AR_2014
3,178
• Modeling changes increased embedded value by USD 282 million. The main contributors were Germany with USD 195 million as a result of more granular product modeling and the UK with USD 59 million from the inclusion of an allowance for salary inflation in Group business.
46
annual_report
3999
409
Periodic actuarial analyses of the Company’s loss reserves are performed. These analyses have typically included a comprehensive review performed in the third quarter based on data as of June 30 and an update of the comprehensive review performed in January based on data as of December 31. In 2009, the Company changed ...
96
10K
de_allianz-AR_2012
1,108
– and investment vehicles such as our EcoTrends fund, which allows customers to put their money in clean technologies.
19
annual_report
HelvetiaHoldingAG-AR_2013
1,589
Helvetia Holding AG, St Gall, issued a new bond of CHF 150 million on 8 April 2013. The bond pays interest at 1.125 % over a term of six years. With this issuance, Helvetia refinanced a bond that expired on 19 April 2013, whilst exploiting favourable market conditions. The bond was repaid at nominal value.
55
annual_report
3387
3,140
The Company is also subject to other financial guarantees and indemnity arrangements. The Company has provided indemnities and guarantees related to acquisitions, dispositions, investments and other transactions that are triggered by, among other things, breaches of representations, warranties or covenants provided by ...
145
10K
gb_prudential-AR_2006
936
Fixed index annuity sales continued to be affected by the uncertain regulatory environment in the US. APE sales of £55 million were 10 per cent down on 2005. Jackson’s market share in 2006 was 3.7 per cent, compared to 3.8 per cent in the prior year.
46
annual_report
NatwestGroupPLC-AR_2018
1,756
The adequacy and effectiveness of selected key controls owned and operated by the second line of defence are also tested (with a particular focus on credit risk and market risk controls). Selected controls within the scope of Section 404 of the US Sarbanes-Oxley Act 2002 as well as selected controls supporting risk dat...
140
annual_report
2875
440
The reader is referred to the complete disclosure on reportable segments in Note 15, Reportable Segments, of the Notes to the Company’s Consolidated Financial Statements included in Item 8 of this Form 10-K.
33
10K
1653
373
Reinsurance Revenues. For renewable term reinsurance, we record as "premiums" the amount of reinsurance premiums we receive over the paying periods of the reinsured policies. For policies reinsured on a coinsurance or modified coinsurance basis, we record as "reinsured policy revenues" a proportionate share of gross re...
144
10K
5700
20,726
(b)Represents the weighted average interest crediting rate of non-U.S. cash balance plans primarily in Japan and Switzerland.
17
10K
2811
431
We are subject to numerous litigation claims that arise in the ordinary course of business. In accordance with SFAS No. 5, “Accounting for Contingencies,” if it is probable that an asset has been impaired or a liability has been incurred at the date of the financial statements and the amount of the loss is estimable, a...
147
10K
1565
331
In July 1999, Investors Fidelity Life Assurance Corp. (IFLAC), a subsidiary of Consumers Life, filed an application with the Ohio Department of Insurance to formally discontinue its business as a life insurance company. In September 1999, the Ohio Department issued an order accepting the surrender of IFLAC s certificat...
51
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2003
1,294
ASSETS Notes Prev. year Change €m €m €m €m €m %
11
annual_report
4056
1,445
The Company uses a reserving methodology that establishes a point estimate for ultimate losses. The point estimate represents management’s best estimate of ultimate losses and loss expenses. The Company does not select a range as part of its loss reserving process. The extent of reliance on management judgment in the r...
205
10K
AdmiralGroupPLC-AR_2016
941
Membership Membership of the Committee at the end of the year was: Colin Holmes (Chair), Annette Court, Penny James and Owen Clarke who joined the Committee with effect from 1 January 2016.
32
annual_report
BaloiseHoldingLtd-AR_2016
1,770
As part of the Baloise Group-wide Risk Management Standards, investment planning and appropriate asset and liability management ensure that any divergence in maturities and the interest rate risk incurred are managed within the risk-bearing ability available.
36
annual_report
INGGroepNV-AR_2009
448
Commercial Banking achieved a very strong commercial performance in what was again an extremely challenging year for the industry. The business was boosted by strong income growth in Financial Markets, Structured Finance and General Lending. However, overall results were significantly affected by negative revaluations ...
113
annual_report
4189
1,044
As mentioned above the increase in income from operations in 2010 included an $18 million favorable variance in the amortization of DAC/DSI related to the impact of the mark-to-market of living benefit embedded derivatives, including any reinsured liabilities, and related hedge positions. This impact primarily relates ...
98
10K
PowszechnyZakladUbezpieczenSA-AR_2012
606
Group of PLN 118.9 million was charged to the profit/loss for 2011 and presented under “Other operating revenue” of the consolidated income statement.
23
annual_report
5274
1,093
Financing Activities. Cash provided by financing activities for the year ended December 31, 2016, was $4.4 million as compared to $12.6 million for the same period in 2015. The higher cash provided by financing activities in 2015 was from the proceeds of the initial public offering, partially offset by the repayment of...
56
10K
AvivaPLC-AR_2015
328
In Italy, we developed a composite life and general insurance proposition tailored specifically for female customers, with over 13,000 policies sold in 2015. We also launched other combinations of life and protection products, including with-profit, unit-linked and protection, with more than £345 million (€450 million)...
52
annual_report
fr_axa-AR_2010
530
(1) Some countries classify health activity in the Property & Casualty segment, while other countries classify it in the Life & Savings segment.
23
annual_report
5129
527
Purchase of Company Stock: On November 9, 2015, the Board of Directors of the Company approved the purchase of an additional 163,335 shares pursuant to the Company’s repurchase plan, such that there was authority remaining under the plan to purchase up to an aggregate of 500,000 shares of the Company’s common stock pur...
182
10K
4489
630
We also consider our market capitalization in assessing the reasonableness of the fair values estimated for our reporting units in connection with our goodwill impairment testing. We believe that our market capitalization at December 31, 2011 is not representative of the underlying fair value of its reporting units, du...
53
10K
gb_prudential-AR_2013
229
M&G has been recognised for its investment performance with numerous awards, including Investment Manager of
15
annual_report
SwissReAG-AR_2016
4,187
Across our efforts, we seek to develop solutions that improve access to insurance protection, especially in emerging and developing countries.
20
annual_report
NatwestGroupPLC-AR_2014
9,044
Basel III has been implemented in the EU with a new Directive and
13
annual_report
3671
1,669
and $2.4 million of accrued interest related to uncertain tax positions as a result of EGI’s adoption of FIN 48 on January 1, 2007.
24
10K
LloydsBankingGroupPLC-AR_2001
511
To reduce credit risk the Group uses a variety of credit enhancement techiques such as netting and collateralisation, where security is provided against the exposure.
25
annual_report
4779
3,414
When net investments in foreign operations are sold or substantially liquidated, the amounts in AOCI are reclassified to the consolidated statements of operations.
23
10K
INGGroepNV-AR_2012
2,234
Notes to the consolidated annual accounts of ING Group continued 143ING Group Annual Report 2012 1 W h o w e are 2 R
24
annual_report
5502
791
Net income, in general, has been positively impacted by the growth in the volume of business in force and the investment spread earned on this business. The average amount of annuity account balances outstanding (net of annuity liabilities ceded under coinsurance agreements) increased 8% to $46.8 billion for the year e...
121
10K
5433
1,129
For the year ended December 31, 2017, we recorded income tax expense of $326 million on pre-tax earnings of $1.1 billion, or an effective tax rate of 28.7%. The effective tax rate reflects the effect of Income Tax Reform and the health insurer fee moratorium. For the year ended December 31, 2017, we recorded lower inco...
143
10K
4182
1,446
Beginning on January 1, 2010, the Company had the right to redeem the Series A and Series B redeemable preferred stock, in whole or in part, based on the following time frames at the redemption prices set forth below (expressed in percentages of the liquidation amount), plus accumulated and unpaid dividends to the rede...
55
10K
ScorSE-AR_2011
4,786
(1) The perimeter Transamerica includes the following companies : SCOR Life Assurance Company, SCOR Life Reinsurance Company and SCOR International Re
21
annual_report
PosteItalianeSpA-AR_2016
3,873
In compliance with Bank of Italy Circular 285/2013(87), these services are in turn classified in the General Guidelines as essential and non-essential control and operating functions.
26
annual_report
5594
1,993
For LPs/LLCs accounted for using the equity method, the carrying value of these investments is written down or impaired
19
10K
GjensidigeForsikringASA-AR_2017
283
Loss prevention Our core business – insurance – gives customers security by reducing or removing negative financial consequences of damage, injuries and accidents. This is an important welfare need in modern societies. It is nonetheless better for the customer, the insurance company and society as a whole to prevent su...
69
annual_report
3734
7,295
The ten largest losses from sales of individual securities for the year ended December 31, 2008 totaled $239 million and ranged from $12 million to $46 million. Five securities totaling $54 million were in an unrealized loss position greater than or equal to 20% of amortized cost for fixed income securities or cost for...
107
10K
RSAInsuranceGroupPLC-AR_2013
1,548
2. Under the terms of the Company’s all-employee Sharebuild Plan (an HMRC-approved Share Incentive Plan), the Matching Shares awarded between December 2009 and February 2011 have vested. Any Matching Shares which have vested under the rules have remained in the Trust and are included in the above table. 3. Simon Lee re...
103
annual_report
2510
1,563
New business written premium for the year ended December 31, 2004 of $1,148 was up from $1,038 for the year ended December 31, 2003, due to an increase in new business written premium for small commercial of $172, partially offset by a decrease in new business written premium for middle market of $61. The new business ...
90
10K
SwissReAG-AR_2015
1,176
More information is provided in the sections “Conditional and authorised capital in particular” below and “Changes in capital” on page 82.
21
annual_report
ch_zurich_insurance_group-AR_2007
941
International Businesses in USD millions, for the years ended December 31 2007 2006 Change
14
annual_report
2115
716
As of December 31, 2003, 2002, and 2001, statutory capital and surplus for NCRIC was sufficient to satisfy regulatory requirements. Each insurance company is restricted under the applicable Insurance Code as to the amount of dividends it may pay without regulatory consent.
42
10K
TopdanmarkAS-AR_2014
278
Solvency calculation and capital requirements An important goal of Solvency II is to promote good risk management based on market values and actual risk calculations. Solvency II will include a standard model for calculation of solvency requirements, which will be common to all insurance companies in the EU. Although t...
78
annual_report
StorebrandASA-AR_2013
2,399
BTP. The amount is 10 per cent of the annual salary up to 7.5 times the basic income amount, which was SEK 56,600 in 2013 and will be SEK
29
annual_report
2123
518
In the commercial lines segment in 2002, we had an underwriting gain of $2.9 million, a combined ratio of 85.6%, a loss and loss adjustment expense ratio of 36.3% and an underwriting expense ratio of 49.3%, compared to an underwriting gain of $1.5 million, a combined ratio of 90.4%, a loss and loss adjustment expense r...
133
10K
5213
1,894
Ambac Assurance Corporation v. Fort Leavenworth Frontier Heritage Communities, II, LLC (U.S. District Court, District of Kansas, Index No. 15-CV-9596). Ambac Assurance filed this action on November 19, 2015. On January 4, 2016, defendant moved to dismiss for failure to join an indispensable party, which Ambac Assurance...
104
10K
5521
1,335
U.S. corporate public securities, Foreign corporate public securities, and foreign governments: Fair value is determined using third-party commercial pricing services, with the primary inputs being benchmark yields, trades of comparable securities, issuer ratings, bids and credit spreads off benchmark yields.
40
10K
AdmiralGroupPLC-AR_2008
835
Cash flows from investing activities: Purchases of property, plant and equipment and software (11,315) (5,390)
15
annual_report
PhoenixGroupHoldingsPLC-AR_2019
2,363
Based on our procedures performed on the ERM financial investments and the modelled debt securities, we are satisfied that the valuation of these complex and illiquid assets is reasonable�
29
annual_report
StandardLifeAberdeenPLC-AR_2011
1,868
• Changes in management actions, including the dynamic guarantee deductions, are allowed for according to the particular economic scenario, such actions being expected to be consistent with the way that the HWPF will be managed in future as described in the Scheme and in the Principles and Practices of Financial Manage...
52
annual_report
4095
3,266
In addition, the Company issues variable life, variable universal life and universal life contracts where the Company contractually guarantees to the contractholder a death benefit even when there is insufficient value to cover monthly mortality and expense charges, whereas otherwise the contract would typically lapse ...
63
10K
5631
322
Premiums and contract charges increased 6.4% or $84 million in 2017 compared to 2016, primarily due to higher traditional life insurance premiums related to the reinsurance agreement with Allstate Assurance Company (“AAC”) to assume certain term life policies effective January 1, 2017 and growth in voluntary accident a...
50
10K
RSAInsuranceGroupPLC-AR_2011
1,244
• The business review on pages 3 to 37, which is incorporated into the Directors’ report, includes a fair review of the development and performance of the business and the position of the Group and
35
annual_report
4282
755
Revenues consist of premiums, administrative fees, net investment income and net capital gains and losses. Historically, premium growth in our Insurance Services segment and administrative fee revenues growth in our Asset Management segment have been the primary drivers of consolidated revenue growth.
42
10K
SwissReAG-AR_2015
3,782
During an IRR, our underwriting teams are now automatically asked a number of specific questions about their potential exposure to sustainability risks. The results and recommendations for improvement are reported to the Group
33
annual_report
2279
531
The net present value of inforce revenue is typically amortized between 20 and 30 years (the expected average policy duration). The determination of the amortization schedule involves making certain assumptions related to persistency, expenses, and discount rates that are used in the calculation of the carrying value o...
75
10K
PowszechnyZakladUbezpieczenSA-AR_2014
2,522
Members of the Management Board, including the President of the Management Board, are appointed and dismissed by the Supervisory Board; however, members of the Management
25
annual_report
3290
887
In 2006, consolidated revenues from continuing operations increased 18% to $2.7 billion from $2.3 billion in 2005. Growth in insurance revenues resulted from an increase in net investment income and net realized gains from investment securities. An increase in investment management services’ interest income resulting f...
94
10K