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fr_axa-AR_2006
707
Financial and accounting information is consolidated within the Finance Department in accordance with international accounting standards (IFRS) as adopted by the European Union. It is reviewed on the basis of a complementary economic analysis.
34
annual_report
gb_lloyds_banking_grp-AR_2013
1,580
Former appointments: Former Chief executive of Hermes Pensions Management and formerly Chairman of the Asian Infrastructure Fund, MePC and of the Strategic Investment Board (northern Ireland). Former Member of the Financial Reporting Council and the Marks & Spencer Pension Trustees.
40
annual_report
AdmiralGroupPLC-AR_2010
5
Low risk profi ts Admiral has no debt, a low risk investment portfolio, a conservative reserving methodology, and utilises reinsurance agreements to signifi cantly reduce underwriting risk. We generate signifi cant profi ts from insurance products underwritten outside the Group and generate high return on capital invested (59% in 2010).
50
annual_report
3460
1,575
The fair value of our investments in government securities and equity securities is primarily measured using a market based valuation methodology primarily using quoted market prices in active markets (Level 1 inputs per SFAS 157).
35
10K
2602
960
Affirmative Insurance Holdings, Inc. 2004 Stock Incentive Plan (incorporated by reference to Exhibit 10.2 to Amendment No. 2 to our Registration Statement on Form S-1 filed with the SEC on May 27, 2004, File No. 333-113793).
36
10K
SwissReAG-AR_2000
505
Other derivatives Credit derivatives Catastrophe derivatives Weather derivatives Total other derivatives
11
annual_report
PowszechnyZakladUbezpieczenSA-AR_2010
42
In effect, the rate of exchange of the Polish zloty deteriorated in May-July and, to a lesser extent, at the end of the year. The Polish zloty strengthened against euro by 3.6% at the end of 2010 versus the end of 2009, but the higher value of dollar in global markets resulted in the deterioration of the PLN/USD rate of exchange by nearly 4.0%. The Polish zloty also weakened versus the Swiss
72
annual_report
AvivaPLC-AR_2018
2,352
The remaining balance of £9 million loss primarily relates to other currency translation reserve recycling adjustments.
16
annual_report
PhoenixGroupHoldingsPLC-AR_2016
291
– For the minority of customers who complain, we will continue to ensure that the process of complaining remains a straightforward, transparent and fair process, with particular focus on the speed of resolution and the quality of our responses.
39
annual_report
4557
1,393
As part of an enterprise-wide strategic initiative, by 2016, we expect to increase our operating return on common equity to the low end of the 12% to 14% range, driven by higher operating earnings. If we were to assume no share buybacks through year-end 2016, our estimated operating return on equity target range for 2016 would be approximately 100 basis points lower than this previously noted range, all other assumptions held constant. We will leverage our scale to improve the value we provide to customers and shareholders in order to achieve $1 billion in efficiencies, $600 million of which is expected to be related to net pre-tax expense savings, and $400 million of which we expect to be reinvested in our technology, platforms and functionality to improve our current operations and develop new capabilities. Additionally, we will shift our product mix toward protection products and away from more capital-intensive products, in order to generate more predictable operating earnings and cash flows, and improve our risk profile and free cash flow. We expect that by 2016, more than 20% of our operating earnings will come from emerging markets.
187
10K
3318
1,228
On July 29, 2007, we concluded that there were indicators that a material charge for impairment of our investment in C-BASS was required under accounting principles generally accepted in the United States of America (“GAAP”); however, we could not determine the amount, or range of amounts, of the potential impairment until financial information was received from C-BASS. In November 2007, we received financial statements from C-BASS as of September 30, 2007, at which point we made a final determination with respect to impairment.
83
10K
HelvetiaHoldingAG-AR_2008
950
Notes to the consolidated financial statements of Helvetia Group 2008 4.1 Exchange rates
13
annual_report
DirectLineInsuranceGroupPLC-AR_2016
1,501
In preparation for the UK’s EU membership referendum, the Committee met economists from a major financial institution in April 2016 to obtain an independent third party view of the likely economic consequences of a vote to either remain in, or leave, the EU. In addition, the Committee requested an update from management regarding preparations in advance of the vote. The Committee concluded that preparations, including plans to ensure access to liquidity to meet customer payments, and to support collateral calls, were well developed. In the period following the vote, management updated both the Board and the Committee on market conditions, and in particular the impact of Sterling’s depreciation against both the US Dollar and the Euro on collateral calls for open foreign exchange forward positions.
125
annual_report
PosteItalianeSpA-AR_2015
2,888
Change in inventories of raw, ancillary and consumable materials [tab. A6] 4 (1)
13
annual_report
5279
1,603
Valuation allowances are provided when it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. As of December 31, 2016 and 2015, the Company had total valuation allowances of $733.5 and $597.4, respectively. As of December 31, 2016 and 2015, $919.2 and $783.1, respectively, of these valuation allowances were allocated to continuing operations, and $(185.7) as of the end of each period was allocated to Other comprehensive income (loss) related to realized and unrealized capital losses.
87
10K
4463
492
Net premiums earned were $216.5 million for 2011, compared with $194.2 million for 2010, an increase of $22.4 million or 11.5%. The increase was primarily due the increases in net premiums written within the previous year. Property net premiums earned for 2011 and 2010 were $97.6 million and $75.2 million, respectively. Casualty net premiums earned for 2011 and 2010 were $118.9 million and $119.0 million, respectively.
66
10K
5476
1,235
{a} The Company corrected the acquisition method from business acquisition to asset acquisition. The consideration provided in excess of fair market value of the purchased entity cannot be treated as goodwill. The excess payment is restated to compensation on asset acquisition.
41
10K
AssicurazioniGeneraliSpA-AR_2015
3,926
CZI Holdings N.V. 050 EUR 2,662,000,000 G 4 100.00 Generali CEE Holding B.V. 100.00 100.00
15
annual_report
PhoenixGroupHoldingsPLC-AR_2019
3,374
1 £5,320 million (2018: £4,605 million) of liabilities are subject to longevity swap arrangements.
14
annual_report
Sampoplc-AR_2020
137
and its effects on society, economy, businesses and the lives of ordinary people. Despite the turbulence, Sampo
17
annual_report
NatixisSA-AR_2019
4,292
In June 2013, Natixis established a governance system for the management of the LCR, notably setting an LCR limit higher than 100% from the end of 2013 (greater than the regulatory requirements in force). The oversight of the LCR is part of a BPCE Group framework under the aegis of the BPCE Group Finance division. Natixis’ LCR hedging is organized in close cooperation with BPCE and is managed by the Joint Refinancing Pool, acting with theauthorization of the Financial Management Department on the basis of its forecasts. Within this framework, the strategy for the Natixis scope aims to hedge the LCR above 100% with a safety buffer of around €5 billion in order to deal with any last-minute contingencies, through BPCE adjustments. The structural over-hedge of the Group’s LCR above the 100% threshold (regulatory limit), is borne by BPCE.
139
annual_report
SwissReAG-AR_2004
166
Derivative financial instruments The Group implemented recent international guidance on accounting for derivatives effective from 1 January 2004. The guidance clarifies the scope of embedded derivatives in certain reinsurance agreements including modified coinsurance arrangements. The cumulative effect of complying with the guidance as of the effective date is reflected in a separate line in retained earnings in the statement of shareholders’ equity.
62
annual_report
PosteItalianeSpA-AR_2019
1,430
The Guidelines regarding strong customer authentication and standards for communications between PSPs and third parties also came into effect from 1 January 2019. In particular, PSPs may introduce a specific interface allowing third parties to access online payment accounts or adopt a solution supplied by an external provider. Poste Italiane has opted for the latter solution which, moreover, allows it to request the Bank of Italy to grant an exemption from the application of a contingency mechanism to be used if the interface is unavailable or suffers disruption. BancoPosta submitted its request for exemption to the Bank of Italy on 14 March 2019, which was accepted by the Authority by order of 4 September 2019. With reference to the obligation for PSPs to adopt strong authentication systems to allow customers to make online arrangements, in August 2019, the Bank of Italy granted an extension for card payments compared to the deadline of 14 September 2019 originally foreseen for the entry into force of the PSD2. The EBA, in its opinion of 16 October 2019, set 31 December 2020 as the deadline for this extension and the Bank of Italy, in a communication of 12 December 2019, asked the PSPs to communicate by 31 January 2020 their intention to make use of the extension and, if so, to provide a series of separate information according to the activity carried out (e.g. migration plans, customer communications initiatives, etc.). Poste Italiane has prepared and sent a document with the feedback to be provided to the Supervisory Authority within the prescribed time limits.
259
annual_report
AssicurazioniGeneraliSpA-AR_2015
799
* The weighted average cost reflects annualized cost of financial debt considering the outstanding debt at the reporting date and the related activities of currency and interest rate hedging.
29
annual_report
4652
2,118
In addition, we recognize an other-than-temporary impairment in earnings for a debt security in an unrealized loss position when (a) we have the intent to sell the debt security, or (b) it is more likely than not we will be required to sell the debt security before its anticipated recovery or (c) a foreign currency denominated security with a foreign currency translation loss approaches maturity. For all debt securities in unrealized loss positions that do not meet any of these criteria, we analyze our ability to recover the amortized cost by comparing the net present value of our best estimate of projected future cash flows with the amortized cost of the security. If the net present value is less than the amortized cost of the investment, an other-than-temporary impairment is recorded. The determination of the assumptions used in these projections requires the use of significant management judgment. See Note 2 to the Consolidated Financial Statements for additional information regarding these assumptions and our policies for recognizing other-than-temporary impairments for debt securities.
171
10K
4383
7,440
The effects of reinsurance on interest credited to contractholder funds for the years ended December 31 are as follows:
19
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2012
1,723
Intra-Group loans are completely eliminated in the balance sheet through consolidation. By contrast, the expenditure for the borrowers and income for the lenders is shown unconsolidated in the item “other non-operating result, impairment losses of goodwill and net finance costs” for the segments concerned. All intra-Group shareholdings are consolidated, and all earnings and expenditure of the subsidiaries are shown in their segments.
62
annual_report
5731
1,392
Equity investments include publicly traded common and preferred stocks, exchange-traded funds and privately held common and preferred stocks. Our publicly traded equity investments in common and preferred stocks predominantly trade on major exchanges and are managed by our external advisors. Our investments in exchange-traded funds trade on a major exchange.
50
10K
gb_prudential-AR_2003
1,488
4. INVESTMENT RETURN (i) Profit before tax With the exception of fixed interest investments held by Jackson National Life, investment gains and losses during the period (to the extent that changes in capital values do not directly match changes in liabilities) are included in the profit for the year and shareholders’ funds as they arise.
55
annual_report
4873
1,064
If the amortized cost of the Company’s fixed maturity or short-term investments is, based upon the judgment of management, unlikely to be recovered, the Company writes down the investment by the amount representing the credit related portion of the decline in value, thereby establishing a new cost basis. The amount of the write-down is recognized in earnings as an OTTI loss. The new cost basis is not changed for subsequent recoveries in fair value.
74
10K
678
472
Other income. For purposes of presentation of the summary of the Selected Consolidated Financial Data, "other income" includes equity in earnings of unconsolidated affiliates, income as a result of trading portfolio activity and the income generated by the third party marketing activities of Marketing One. During 1997, 1996 and 1995, income from unconsolidated affiliates aggregated $19.0 million, $21.0 million and $4.7 million, respectively, including $19.0 million, $21.0 million and $910,000 as a result of the Company's economic interest in SW Financial during 1997, 1996 and 1995, respectively. (For additional information on the operating results of SW Financial see Note 6 of Notes to Consolidated Financial Statements). During 1995, the Company included its portion of the operating results of its 49% interest in the limited partnership which owned Integon Life aggregating $3.8 million prior to the Company's consummation of the acquisition of the remaining 51% of Integon Life in July 1995.
150
10K
AvivaPLC-AR_2016
1,452
Q How does the Committee monitor the Company’s adoption of, and compliance with, SII?
14
annual_report
5095
1,204
We generally recognize stock-based compensation expense, as determined on the date of grant at fair value, on a straight-line basis over the period during which an employee is required to provide service in exchange for the award (the vesting period). In addition, for awards with both time and performance-based conditions, we generally recognize compensation expense on a straight line basis over the vesting period when it is probable that the performance condition will be achieved. However, prior to July 2, 2015, for awards granted to retirement eligible employees, compensation expense is recognized on a straight-line basis over the shorter of the requisite service period or the period from the date
110
10K
5869
2,188
AGL and its Bermuda subsidiaries, AG Re, AGRO, and Cedar Personnel Ltd. (Bermuda Subsidiaries), are not subject to any income, withholding or capital gains taxes under current Bermuda law. The Company has received an assurance from the Minister of Finance in Bermuda that, in the event of any taxes being imposed, AGL and its Bermuda Subsidiaries will be exempt from taxation in Bermuda until March 31, 2035. AGL's U.S., U.K. and French subsidiaries are subject to income taxes imposed by U.S., U.K. and French authorities, respectively, and file applicable tax returns. In addition, AGRO, a Bermuda domiciled company, has elected under Section 953(d) of the U.S. Internal Revenue Code (the Code) to be taxed as a U.S. domestic corporation.
119
10K
PhoenixGroupHoldingsPLC-AR_2014
1,037
3 The TSR performance condition measures performance until 2 April 2015 and is therefore not known. Based on performance to 31 December 2014 it was tracking at the 63.4 percentile giving an estimated vesting of 58.3% of the portion of the award subject to the TSR measure. Reported figures are based on this estimated amount.
55
annual_report
5504
982
As discussed further below, we paid dividends to stockholders of $220 million in 2017, $177 million in 2016, and $172 million in 2015.
23
10K
SwissLifeHoldingAG-AR_2020
3,485
Nestor Financial Group Limited, London IN from 01.10.2020 100.0% 100.0% Broker GBP 1 000
14
annual_report
4535
1,573
In accordance with GAAP, the total purchase price, including the redeemable noncontrolling interest of $111 million, has been allocated to the tangible and intangible net assets acquired based on management's preliminary estimates of their fair value and may change as additional information becomes available over the next several months. Accordingly, approximately $117 million was allocated to identifiable intangible assets, primarily a distribution relationship and the value of business acquired ("VOBA") that represents the present value of the estimated net cash flows from the long duration contracts in force, with the remaining $113 million allocated to goodwill. The identifiable intangible assets will be amortized over an estimated useful life of approximately 10 years. Goodwill has been provisionally allocated to the Global Supplemental Benefits segment and is not deductible for federal income tax purposes.
132
10K
fr_axa-AR_2011
4,672
AXA) were downgraded by credit rating agencies in light of the continuing uncertainty stemming from the European debt crisis and future of the Euro. In the event of a default or similar event by sovereign issuer, some fi nancial institutions may suffer signifi cant losses for which they would require additional capital, which may not be available, and could also suffer credit rating downgrades and/or solvency concerns which may, in turn, negatively impact public perceptions about the stability and creditworthiness of fi nancial institutions and the fi nancial sector generally as well as counterparty relationships between fi nancial institutions. Market and economic disruptions stemming from any such event may further dampen consumer confi dence levels and spending, negatively impact the availability of credit and have potentially signifi cant negative consequences for insurers and other fi nancial institutions, including AXA. There can be no assurance that the market disruptions in Europe, including the increased cost of funding for certain government and fi nancial institutions, will not spread, nor can there be any assurance that future assistance packages will be available or, even if provided, will be suffi cient to stabilize the affected countries and markets in Europe or elsewhere. After a period of uncertainty as to whether US lawmakers would be able to reach the political consensus needed to raise the federal debt ceiling, and notwithstanding that US lawmakers passed legislation to raise the federal debt ceiling before the US
239
annual_report
5526
819
Amortization of deferred acquisition costs in 2018 was $2.39 billion, $102 million or 4% higher than in 2017. Amortization of deferred acquisition costs in 2017 was $2.29 billion, $65 million or 3% higher than in 2016. The increases in both 2018 and 2017 were generally consistent with the increases in earned premiums.
52
10K
5253
498
Salaries, Employee Benefits and Payroll Taxes: Personnel costs include base salaries, benefits and bonuses paid to employees. Salaries, employee benefits and payroll taxes were $31,372,099, $28,041,213 and $25,218,225 for 2016, 2015 and 2014, respectively. Salaries and related costs increased by approximately 11.9% in 2016 from 2015 and increased 11.2% in 2015 from 2014. The increase in 2016 compared with 2015 was primarily related to higher levels of incentive compensation, inflationary increases in salaries and benefits, payroll expenses associated with Texas title agency University Title, which was acquired in the fourth quarter, and increases in staffing levels to accommodate higher volume. The increase in 2015 compared with 2014 was primarily related to inflationary increases in salaries and benefits, higher staffing levels to support ongoing software development activities and higher levels of incentive compensation. On a consolidated basis, salaries and employee benefits as a percentage of total revenues were 22.7%, 22.0% and 20.5% in 2016, 2015 and 2014, respectively.
157
10K
3047
1,339
By using both individual estimates of reported claims and generally accepted actuarial reserving techniques, we estimate the ultimate net liability for losses and LAE. After taking into account all relevant factors, we believe that, based on
36
10K
3722
1,174
Of the U.S. and non-U.S. corporate securities, the majority were issued by banks and other financial institutions, most of which have been in an unrealized loss position for twelve months or more. Most of these securities retain a credit rating of investment grade. The remaining unrealized losses in our U.S.
50
10K
NatwestGroupPLC-AR_2012
5,159
The expected return on plan assets at 31 December is based upon the weighted average of the following assumed returns on the major classes of plan assets, allowing for the net impact of derivatives on the risk and return profile: Main scheme All schemes
44
annual_report
3100
1,682
See Notes 1 and 8 to the accompanying consolidated financial statements for a further discussion of policy reserves and reinsurance transactions.
21
10K
RaiffeisenBankInternationalAG-AR_2012
2,741
Interest-bearing assets – Total assets less trading assets, derivatives, intangible fixed assets, fixed assets and other assets.
17
annual_report
NatwestGroupPLC-AR_2009
4,282
Note: (1) The trust preferred securities issued by subsidiaries have no maturity date and are not redeemable at the option of the holders at any time. These securities may, with the consent of the UK Financial Services Authority, be redeemed, in whole or in part, by the issuer on the dates specified above or on any interest payment date thereafter. They may also be redeemed in whole, but not in part, upon the occurrence of certain tax and regulatory events. The company classifies its obligations to these subsidiaries as dated loan capital.
92
annual_report
ScorSE-AR_2020
3,340
Atlas Re 2020, Atlas UK 2019 & Atlas IX 2016-1 (1) 100 85 - - (46) (38) - -
19
annual_report
INGGroepNV-AR_2020
2,839
Phutrakul. The Supervisory Board is grateful to all involved for the seamless transition in such a complex environment.
18
annual_report
PosteItalianeSpA-AR_2019
9,244
BancoPosta”, the relevant regulations contained in the Consolidated Banking Law and in the Consolidated Law on Finance and the implementing regulations for banks, deemed applicable to BancoPosta by the relevant authorities, and in compliance with the
36
annual_report
de_allianz-AR_2012
514
2. Since the last Declaration of Conformity as of 14 December 2011, Allianz se has complied with the recommendations of the Code in the version of 26 May 2010 with the exception to No. 5.4.6 para. 2 sentence 1 of the Code (the compensation rules for the Supervisory Board of Allianz se do not provide for any performance-related components. The company believes fair fixed remuneration is more suitable to the control function of the Supervisory Board irrespective of success of the company). Since the German Corporate Governance Code in the version of 15 May 2012 does not contain a recommendation for performance-related compensation components for the Supervisory Board anymore, there will be no deviation in this regard in the future.
120
annual_report
1113
497
The parent company is a legal entity, separate and distinct from its subsidiaries, and has no business operations. The parent company needs cash for: (i) principal and interest payments on debt; (ii) dividends on preferred and common stock; (iii) payments to subsidiary trusts to be used for distributions on the Company-obligated mandatorily redeemable preferred securities of subsidiary trusts; (iv) holding company administrative expenses; (v) income taxes; and (vi) investments in subsidiaries. The primary sources of cash to meet these obligations are payments from our operating subsidiaries. The statutorily permitted payments from our life insurance subsidiaries include: (i) fees for services provided; (ii) tax sharing payments; (iii) dividend payments; and (iv) surplus debenture interest and principal payments. We also receive dividend and tax-sharing payments from our non-insurance subsidiaries. The parent company may also obtain cash by: (i) issuing debt or equity securities; (ii) borrowing additional amounts under its revolving credit agreement, as described in the notes to the consolidated financial statements; or (iii) selling all or a portion of its subsidiaries. These sources have historically provided adequate cash flow to fund: (i) the needs of the parent company's normal operations; (ii) internal expansion, acquisitions and investment opportunities; and (iii) the retirement of debt and equity.
204
10K
5634
5,587
Premiums written increased 30.8% or $337 million to $1.43 billion in 2018 from $1.09 billion in 2017, primarily due to continued growth at SquareTrade, including the addition of a leading U.S. retailer in third quarter 2018. Premiums written increased 54.3% or $385 million to $1.09 billion in 2017 from $709 million in 2016, primarily due to the acquisition of SquareTrade and growth through its U.S. retail channel, partially offset by decreases in premiums written at Allstate Roadside Services.
78
10K
4917
2,606
participants would use to determine fair value of the same instruments, including yield curves, quoted market prices of comparable securities, published credit spreads, and other applicable market data as well as instrument-specific characteristics that include, but are not limited to, coupon rates, expected cash flows, sector of the issuer, and call provisions. Judgment is required in developing these fair values. As a result, the fair value of these financial assets may differ from the amount actually received to sell an asset in an orderly transaction between market participants at the measurement date. Moreover, the use of different valuation assumptions may have a material effect on the financial assets' fair values.
110
10K
fr_axa-AR_2017
6,512
AXA’s approach to community investment covers various activities and initiatives, including: ■ employee volunteering, through the AXA Hearts in Action international program (see dedicated section below) and local volunteering programs; ■ the AXA Research Fund (see dedicated section below); ■ strategic partnerships, including long-standing partnership with CARE (since 2011, AXA has donated €5.4 million), and partnership signed with UN Habitat; ■ humanitarian crises and natural catastrophes in response to which AXA’s main non-profit partners are mobilizing to provide emergency relief and develop medium or longterm reconstruction or empowerment projects for the aff ected populations. In 2017, the Group decided to set aside approximately €800 thousand to support CARE, UNICEF and the Red Cross.
113
annual_report
1772
358
The preparation of financial statements requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenue and expenses for the reporting period. Those estimates are inherently subject to change and actual results could differ from those estimates. Included among the material (or potentially material) reported amounts and disclosures that require extensive use of estimates are
81
10K
fr_axa-AR_2015
1,354
Profi t or loss on fi nancial assets (under FV option) & derivatives 5 (23)
15
annual_report
5034
1,423
At December 31, 2015 and 2014, the amount of premiums receivable related to our reinsurance operations amounted to $1.7 billion and $1.1 billion, respectively.
24
10K
SwissReAG-AR_2014
3,765
In 2014, we assumed a portion of risk in a USD 450 million weather coverage bought by the Uruguayan government with the assistance of the World Bank Treasury, which helps to reduce this financial risk. In future, if the government needs to import electricity because of drought and a subsequent fall in energy generation, it will automatically receive compensation. The payout amount will be determined by rainfall data and oil prices, thus covering the double risk of drought conditions and an increase in energy prices.
85
annual_report
1845
553
The remaining $3,468,507 of goodwill is associated with the 1998 acquisition of the Lalande Group and reflects the estimated fair valuation levels of agencies in the personal automobile marketplace.
29
10K
AvivaPLC-AR_2018
1,719
Performance measures Awards will vest based on a combination of financial, strategic and TSR performance metrics. For the 2018 awards the measures and weightings will be: • 50% Operating EPS1 growth subject to two gateway hurdles – RoE1 and Solvency II shareholder cover ratio1 • 50% TSR against a comparator group
51
annual_report
3953
1,447
On August 28, 2007, two plaintiffs, Walsh and Young, filed a putative class action lawsuit in the United States District Court for the Southern District of Iowa against Principal Life and Princor Financial Services Corporation (the "Principal Defendants"). The lawsuit alleges that the Principal Defendants breached alleged fiduciary duties to participants in employer-sponsored 401(k) plans who were retiring or leaving their respective plans, including providing misleading information and failing to act solely in the interests of the participants, resulting in alleged violations of ERISA. The Principal Defendants are aggressively defending the lawsuit.
92
10K
2332
763
During the vesting period, dividends are earned and held in escrow on the restricted shares subject to the same vesting period and conditions as set forth in the award agreement. Effective September 3, 1996, dividends earned on the restricted shares are reinvested in the Company's common stock at fair value. The Company issued through the dividend reinvestment feature (net of forfeitures), restricted shares of 12,004 in 2003, 16,817 in 2002, and 16,929 in 2001, from the dividend reinvestment plan reserves.
80
10K
fr_axa-AR_2014
9,343
target for the 2012-2020 period: ■ -25% carbon emissions per FTE
11
annual_report
4979
2,784
Ventures Re is considered to be a variable interest entity. The Company has concluded that it is the primary beneficiary of Ventures Re as it has the power to direct, and has more than an insignificant economic interest in, the activities of this entity. Following this determination, Ventures Re was consolidated by the Company. Shareholders' equity attributable to Ventures Re's third party investors is recorded in the Consolidated Financial Statements as noncontrolling interests.
73
10K
4310
2,167
Litigation. Putative or certified class action litigation and other litigation, and claims and assessments against the Company, in addition to those discussed elsewhere herein and those otherwise provided for in the Company’s consolidated financial statements, have arisen in the course of the Company’s business, including, but not limited to, in connection with its activities as an insurer, mortgage lending bank, employer, investor, investment advisor and taxpayer. Further, state insurance regulatory authorities and other federal and state authorities regularly make inquiries and conduct investigations concerning the Company’s compliance with applicable insurance and other laws and regulations.
95
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_1999
516
The stock markets were characterized by exceptionally divergent developments in the past year: although the indices of the major stock markets reached new all-time highs, these record increases were attributable to only a relatively small number of highly capitalized stocks from the technology, telecommunications and financial sectors. The majority of shares – especially medium and small cap stocks – recorded hardly any advances in price as a whole.
68
annual_report
nl_ing_grp-AR_2014
6,429
Number of AIRB rating models per exposure class PD models EAD models LGD models
14
annual_report
ASRNederlandNV-AR_2008
345
6.3.1.1.1 Asset & Liability Management Asset & Liability Management (ILM) is responsible for keeping a close watch on ALM-related risks in the balance sheet of ASR and its insurance entities. ALM does this in accordance with decisions taken by the ALCO (Asset and Liability Management Committee) with due observance of the guidelines of ASR and external regulators. ALM defines risk tolerance and controls risks by establishing guidelines and standards. ILM endeavours to apply best practices in risk management, as required by external regulators and rating agencies.
86
annual_report
671
556
Net sales for 1996 decreased $124.1 million, or 12.8%, to $848.5 million from $972.6 million in 1995. Same store sales decreased 6.4%. During 1996, Wickes experienced a 2.1% decrease in same store sales to its primary customer segment, the professional home builder, and a 3.2% increase in same store sales to commercial builders.
53
10K
5709
2,426
For information about the Company’s revenues disaggregated by reportable segment see Note 20 Segment Financial Information.
16
10K
2689
196
Year Ended Direct Written Policies Average December 31 Premium Issued Premium ----------- ------- ------ ------- 2004 $68,872,021 20,885 $3,298 2003 $64,047,717 21,425 $2,989 2002 $45,622,280 18,603 $2,452
27
10K
RaiffeisenBankInternationalAG-AR_2013
1,789
Office furniture, equipment and other tangible fixed assets 1,269,830 1,373 (48,723) 136,048 (84,485) 84 1,274,127
15
annual_report
5606
1,342
Prior period amounts in the table above have been revised to correct previously reported numbers. These prior period revisions have also been reflected in the Consolidated Financial Statements. See Note 16 for a more detailed description of the revision.
39
10K
ch_zurich_insurance_group-AR_2019
3,059
Treasury shares number of shares, as of December 31 2019 2018 2017
12
annual_report
HiscoxLtd-AR_2006
43
fåîÉëíãÉåíë qÜÉ=áåîÉëíãÉåí=êÉíìêå=áë=~å=ÉëëÉåíá~ä=é~êí=çÑ=íÜÉ=ìåÇÉêïêáíáåÖ=ÄìëáåÉëëK tÉ=Ü~îÉ=Ü~Ç=áåíÉêÉëí=ê~íÉë=ëíÉ~Çáäó=êÉÇìÅáåÖ=Ñêçã=NR=éÉê=ÅÉåí=áå=NVVM íç=P=éÉê=ÅÉåí=êÉÅÉåíäó=ïÜáÅÜ=Ü~ë=ÄÉÉå=~=Åçåëí~åí=ëèìÉÉòÉ=çå=çìê=éêçÑáíëK fåíÉêÉëí=ê~íÉë=çÑ=NR=éÉê=ÅÉåí=Ü~îÉ=~=íÉêêáÄäÉ=ÉÑÑÉÅí=çå=ìåÇÉêïêáíáåÖ ëí~åÇ~êÇë=~ë=íÜÉ=áåîÉëíãÉåí=êÉíìêå=ëï~ãéë=íÜÉ=äçëëÉë=Ñêçã=Ä~Ç ìåÇÉêïêáíáåÖK=Efåëìê~åÅÉ=Åçãé~åáÉë=ïÉêÉ=êÉÖìä~êäó=ÇÉëÅêáÄÉÇ=~ë áåîÉëíãÉåí=íêìëíë=ïáíÜ=~å=ÉñéÉåëáîÉ=Ü~ÄáíKF=qÜÉ=ëèìÉÉòÉ=Ü~ë=ÄÉÉå= ÖççÇ=Ñçê=ìåÇÉêïêáíáåÖ=ëí~åÇ~êÇë=~ë=íÜÉó=Ü~îÉ=ÄÉÉå=Ñìääó=ÉñéçëÉÇI= ëç=áí=áë=~=ÜÉ~äíÜáÉê=ã~êâÉí=~ë=~=êÉëìäíK=eçïÉîÉêI=íÜÉ=êÉÅÉåí=áåíÉêÉëí= ê~íÉ=áåÅêÉ~ëÉë=íç=çîÉê=R=éÉê=ÅÉåí=Ü~îÉ=ÖáîÉå=~=ëíÉ~Çó=~åÇ=ãÉ~åáåÖÑìä áåÅêÉ~ëÉ=íç=çìê=Ä~ëáÅ=éêçÑáí~ÄáäáíóI=ïáíÜ=íÜÉ=ÖççÇ=ìåÇÉêïêáíÉêë=ÇçáåÖ ÄÉííÉê=íÜ~å=íÜÉ=Ä~Ç=~ë=íÜÉ=ÄÉííÉê=óçì=ìåÇÉêïêáíÉ=íÜÉ=ãçêÉ=ãçåÉó= óçì=Ü~îÉ=íç=áåîÉëíK
14
annual_report
4961
845
The Company uses the end of the reporting period as its policy for determining transfers into and out of each level. During the year ended December 31, 2014 the Company transferred seven nonredeemable preferred stocks, with an aggregate value of $6.1 million, from Level 2 to Level 1 due to increases in trading activity. Conversely, during the same period, the Company transferred seven nonredeemable preferred stocks, with an aggregate value of $5.9 million, from Level 1 to Level 2 due to decreases in trading activity.
85
10K
gb_prudential-AR_2015
40
We continue to make progress in achieving the 2017 objectives for the Group. These are not easy. Nor should they be. We are, however, pleased with the headway made so far.
31
annual_report
5030
702
As a result, step 2 of the goodwill impairment analysis was required for the EMEA/AP and Americas excluding U.S. Contractor Connection reporting units, and goodwill impairments of $38.1 million and $11.2 million, respectively, were recognized during the year ended December 31, 2015. The estimated fair values as calculated in our step 1 goodwill impairment analysis for all of our other reporting units exceeded the carrying values of the reporting units.
70
10K
AvivaPLC-AR_2002
409
A common measure of the financial strength in the UK for life insurance business is the free asset ratio (FAR). We estimate that the average free asset ratio of our three UK life companies was 11.8% at end 2002 including implicit items (31 December 2001: 14.7%). If these implicit items were excluded then the FAR would
56
annual_report
929
577
Approximate aggregate minimum rental commitments under operating leases at December 31, 1998 are as follows:
15
10K
SwissLifeHoldingAG-AR_2011
2,034
Hedging gains/losses arising during the period 9 9 – 175 – 175
12
annual_report
AvivaPLC-AR_2010
1,179
Indirect impacts Products/suppliers/investors Aviva UK has also signed up to the Royal Mail’s Responsible Mailing programme for direct marketing mail. This ensures that the paper used in the marketing is FSC accredited and that a recycling message is included on each piece of material. By 2010 year end 3.9 million items of direct mail had been delivered through this programme. Royal Mail also reduces its handling costs as part of this initiative providing a saving of £11, 000. The UK business is also using phone text messaging, following a Met Office severe weather warning for storm or extreme weather temperatures, to inform customers of the precautions they should take to safeguard their property and cars. Texts to 500,000 customers went out to warn them of the perils of the arctic conditions in December. Aviva’s new global brand campaign ‘You are the Big Picture’ required that the building wraps could be recycled in line with the recycling infrastructure available. Some were turned into biofuel whilst others were made into traffic cones and plastic kerbs. The energy used to illuminate the buildings and image projectors was calculated and CO2 emissions were offset; a total of 113 tonnes. The marketing and IT team in Singapore worked together to build a system to launch our general insurance products in 2010. The products are sold through an online system (the first in Singapore). When customers purchased their policy, they are given the option to ‘Go Green’ and if they chose this option the policy is sent to them electronically, reducing the need for printing. Since the launch of this product, 93% of customers have requested this option out of a total of 9,992 policies sold. Each policy is approximately 24 pages saving 1.2 tonnes of paper.
291
annual_report
3679
2,114
As of December 31, 2008, the fair value of our mortgage-backed and asset-backed securities collateralized by sub-prime residential mortgage loans by vintage and fair value level were as follows:
29
10K
432
552
As discussed above, the Company has recently developed a new small group health insurance product which will be introduced into the marketplace beginning in the second quarter of 1997. In addition, the Company will be enhancing its management of provider relationships and risk-sharing programs. In conjunction with these actions, the Company will be reviewing its current and future information systems needs. As a result, the Company may need to make additional investments in its information systems in the future to support the operations of the business and as the Company prepares for the transitioning of operations into the year 2000.
100
10K
fr_axa-AR_2001
3,939
Pension Obligations and Other Similar Liabilities Detailed information is provided in note 17 “Employee Benefit Plans”.
16
annual_report
5593
770
Net income attributable to Loews Corporation increased $27 million in 2017 as compared with 2016 primarily due to improved non-catastrophe current accident year underwriting results, lower adverse prior year reserve development recorded under the 2010 asbestos and environmental pollution (“A&EP”) loss portfolio transfer, higher net investment income and higher net realized investment results. These increases were partially offset by higher net catastrophe losses in 2017, and a loss of $24 million (after tax and noncontrolling interests) on the early redemption of debt in 2017. As a result of the Tax Act, CNA’s net deferred tax assets were remeasured as of the date of enactment, resulting in a one-time decrease to net income of $87 million ($78 million after noncontrolling interests).
120
10K
3975
1,254
2008 versus 2007: Gross premiums written by the reinsurance segment in 2008 were 20.8% lower than 2007. For its January 1, 2008 renewals, Arch Re Bermuda adjusted its book of business in light of the expiration of the Treaty with Flatiron discussed above, and 2008 writings in certain property and marine lines were reduced accordingly. Other reductions in the reinsurance segment's book of business resulted from continued competition which led to non-renewals or lower shares written, partially offset by an increase in writings by the reinsurance segment's property facultative operation.
90
10K
4463
487
(1) Includes excise tax of $1,060 and $1,021 related to cessions from our U.S. Insurance Companies to Wind River Reinsurance for 2011 and 2010, respectively.
25
10K
5280
384
The Company's entire operations are conducted from these two facilities. The current facilities are expected to be adequate for the Company's operations for the foreseeable future.
26
10K
4408
1,720
significant stock market declines, that could, among other things, result in increased expenses for guaranteed minimum income benefit contracts, guaranteed minimum death benefit contracts and the Company’s pension plans in future periods as well as the recognition of additional pension obligations;
41
10K
3774
1,539
Fair Value of CDS Contracts in which the Company Purchases Protection
11
10K
DirectLineInsuranceGroupPLC-AR_2018
121
In Direct Line we launched another two new unique propositions – in Home and Motor. Our new Motor proposition removed one of our customers’ greatest frustrations and protected their no claim discount on no-fault claims. We now offer a combination of nine Direct Line propositions that our customers cannot get anywhere else in the market.
55
annual_report
gb_prudential-AR_2012
4,892
35 14 Experience variances and other items: Spread experience variancenote (f) 205 152 Amortisation of interest-related realised gains and lossesnote (g) 91 84 Other (6) 17
26
annual_report
NatwestGroupPLC-AR_2014
8,868
• The Group intends to establish a ring-fence bank (“RFB”) for its banking services while the non-ring-fence group (“NRFB”) will hold the Group’s remaining CIB activities, the operations of RBS
30
annual_report
3451
1,276
Limited partnership interests are valued under the cost method of accounting. The Company uses this method since it has a minority equity interest and virtually no influence over the entity’s operations. Also included in other limited partnership interests are limited partnerships established for the purpose of investing in low-income housing that qualify for federal and state tax credits. These securities are carried at amortized cost as determined using the effective yield method.
72
10K
NatixisSA-AR_2015
177
In addition to its strong presence in the US market, in 2015 the platform continued to expand its international coverage in Asia for major corporate clients and global advisors, and in Europe, mainly in the UK market, where business was brisk with institutional clients and on the retail market. Asset management distribution activity picked up in France and other European countries including Italy, Spain and Germany. A strategy of extending coverage to several Latin American countries (Mexico, Uruguay and Colombia) has been followed since 2014.
85
annual_report
5175
767
Other revenues - Other revenues primarily pertain to the Company’s two nursing home operations in Reno, Nevada and San Marcos, Texas. Revenues associated with these operations were $20.6 million, $21.1 million and $23.3 million in 2015, 2014 and 2013, respectively. The 2015 amount also includes additional revenue recorded associated with the life interest in the Libbie Shearn Moody Trust.
59
10K
Sampoplc-AR_2019
3,694
The Group’s investment portfolio excluding investments in associates represents amounts to mEUR 36,418 (2018: mEUR 33,363 which represents 70% of the Group’s total assets. Fair value measurement can be subjective, specifically in areas where fair value is based on a model-based valuation. Valuation techniques for private equity funds, non-listed bonds and non-listed equities involve setting various assumptions regarding pricing factors. The use of different valuation techniques and assumptions could lead to different estimates of fair value. Specific areas of audit focus include the valuation of level 2 and 3 assets according to IFRS where valuation techniques use unobservable inputs. The investment portfolio includes level 2 assets amounting to mEUR 7,458 and level 3 assets amounting to mEUR 2,708 (refer to note 17).
122
annual_report
4807
1,770
On October 1, 2003, SeaBright began selling workers’ compensation insurance policies for which the premiums varied based on loss experience. Accrued retrospective premiums are determined based upon the loss experience of business subject to such experience rating adjustment, and are determined by and allocated to individual policyholder accounts. Accrued retrospective premiums are recorded as additions to written or earned premium, and return retrospective premiums are recorded as reductions from written or earned premium. During the period from February 7, 2013, the date of acquisition, to December 31, 2013, none of the Company’s direct premiums written related to retrospectively rated contracts. The Company has recorded $8.8 million for retrospective premiums receivable and $27.5 million for return retrospective premiums payable as at December 31, 2013.
123
10K