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small blocks of business, and as a result, the loss ratio can exhibit significant volatility due to varying levels of claim frequency and severity. Generally, the anticipated aggregate loss ratio for the four products should range between 70% and 75%. The 1998 and 1997 loss ratios were impacted by a higher level of lif...
71
10K
NatwestGroupPLC-AR_2004
2,605
The following table summarises fair values of options issued in each year: Exercise price Fair value Life Exercise price Fair value Life Exercise price Fair value Life
27
annual_report
NatwestGroupPLC-AR_2016
8,903
The longer term effects of the EU Referendum on the Group’s operating environment are difficult to predict, and subject to wider global macro-economic trends and events, but are likely to significantly impact the Group and its customers and counterparties who are themselves dependent on trading with the
47
annual_report
3549
1,714
South Korea by $90 million primarily due to higher fees from growth in its guaranteed annuity business and variable universal life business.
22
10K
gb_lloyds_banking_grp-AR_2010
3,942
Report of the independent auditors on the consolidated financial statements 144 consolidated financial statements 146 notes to the consolidated financial statements 153
22
annual_report
2076
807
Our insurance subsidiaries experienced increased lapse rates on annuity policies during 2002. We believe that the diversity of the investment portfolios of our insurance subsidiaries and the concentration of investments in high-quality, liquid securities provide sufficient liquidity to meet foreseeable cash requirement...
157
10K
4606
12,439
Insurance and investment product fees on our life and annuity products decreased $9.7 million in the three months ended December 31, 2012 compared with the three months ended December 31, 2011. Lower fees for the fourth quarter of 2012 were primarily a result of a $13.9 million decrease in COI charges related to declin...
76
10K
Sampoplc-AR_2015
530
In life insurance operations profit before taxes rose to EUR 181 million (163). Return on equity (RoE) amounted to 12.7 per cent (11.4). Premium income on own account increased to EUR 1,144 million (1,105). The reserve for lower discount rates was further strengthened by EUR 109 million during 2015. The rates used for ...
69
annual_report
fr_axa-AR_2019
8,151
From year N+11 until the last benefit payments is paid 18,919 62
12
annual_report
fr_axa-AR_2008
3,443
1.18.4. Unbundling The Group unbundles the deposit component of contracts when required by IFRS 4, i.e. when both the following conditions are met: • the Group can measure separately the “deposit” component (including any embedded surrender option, i.e. without taking into account the “insurance” component); • the Grou...
64
annual_report
4197
809
On a quarterly basis, we perform reviews of our investments to determine whether declines in market value below the cost basis are considered other-than-temporary in accordance with applicable accounting guidance regarding the recognition and presentation of OTTI. The process of determining whether a security is other-...
172
10K
5887
570
Net realized capital gains/losses: Net realized capital gains/losses are a function of the difference between the amount received by us on the sale of a security and the security’s recorded value as well as any "other-than-temporary impairments" relating to fixed maturity investments recognized in earnings.
45
10K
3082
1,444
Segment net operating income from spread-based retail products decreased $32 million primarily due to an increase in DAC amortization resulting from higher lapses on fixed annuities, unfavorable mortality on life-contingent annuities, lower assets under management from withdrawals of older pre-2004 issued blocks of bus...
110
10K
4465
1,628
· Risk-free rates are the implied yield currently available on U.S. Treasury issues with a remaining term approximating the expected term.
21
10K
4225
2,050
AIG is also exposed to reputational risk, which is the risk of direct loss or loss in future business because of damage to AIG's reputation. Damage to the company's reputation can arise from a large number of issues, including potential conflicts of interest; legal and regulatory requirements; ethical issues; and sales...
72
10K
AdmiralGroupPLC-AR_2005
375
Prior to that, he was Chief Financial Officer of two life insurance companies and several Lloyd’s brokers. He is a fellow of the Institute of
25
annual_report
4067
657
unrealized gains and losses related to investments and unamortized net realized gains and losses on investments for experience-rated contracts. Reserves on experience-rated contracts reflect the rights of contractowners, plan participants, and the Company. During 2009 and 2008, given the economic environment, which res...
127
10K
2249
783
Awards under the Company’s plans vest over periods ranging from one to four years. Therefore, the cost related to stock-based employee compensation included in the determination of net income for 2003 and prior years is less than that which would have been recognized if the fair value based method had been applied to a...
98
10K
3511
4,543
The Property-Liability portfolio's investment strategy emphasizes safety of principal and consistent income generation, within a total return framework. This approach, which has produced competitive returns over time, is designed to ensure financial strength and stability for paying claims, while maximizing economic va...
53
10K
fr_axa-AR_2007
1,027
Mutual fund retail net sales increased by €750 million (+38% on a comparable basis) to €2,609 million. This is a key area of growth in Australia and reflects continued strong inflows into the mezzanine “global equity fund” as well as into Personal superannuation sold through Summit and Generations platforms. Furthermor...
90
annual_report
5696
593
as well as the absence of intent to sell or requirement to sell securities prior to recovery. In addition, we consider price declines in our OTTI analysis when they provide evidence of declining credit quality, and we distinguish between price changes caused by credit deterioration as opposed to rising interest rates.
51
10K
5789
1,362
This plan, which was established on April 25, 2012, provides for the granting of incentive stock options, time-based or performance-based non-statutory stock options, share appreciation rights, restricted shares, time-based or performance-based RSUs, performance-based awards and other share-based grants or any combinat...
82
10K
3995
1,375
Other operating expense includes $16.0 million, $13.7 million and $12.0 million in 2009, 2008 and 2007, respectively, of stock-based compensation expense, after the effect of the deferral and amortization of policy acquisition costs, related to stock-based compensation for our underwriters. At December 31, 2009, there ...
131
10K
AssicurazioniGeneraliSpA-AR_2019
1,156
Policyholders' interests on operating income from own investments -17,793 -807 n.m.
11
annual_report
StandardLifeAberdeenPLC-AR_2015
2,427
The assets and liabilities of operations held for sale at 31 December 2014 primarily related to the Group’s Canadian business which was sold on 30 January 2015 and included the SLAL Canada Branch, the assets and liabilities of which were transferred on 31 December 2015. Refer to Note 1 for further details. The breakdow...
69
annual_report
PhoenixGroupHoldingsPLC-AR_2011
110
Ignis is incentivised to maximise investment performance for the Group’s policyholders through performance fee arrangements. In addition, Ignis is seeking to grow the assets it manages for third party investors in both the retail and institutional markets.
37
annual_report
BeazleyPLC-AR_2020
1,943
The reinsurance security committee examines and approves all reinsurers to ensure that they possess suitable security. The group’s ceded reinsurance team ensures that these guidelines are followed, undertakes the administration of reinsurance contracts and monitors and instigates our responses to any erosion of the rei...
46
annual_report
5728
940
A third method is the Bornhuetter-Ferguson (“B-F”) method, which is also utilized for estimating unpaid loss and LAE amounts. Each B-F technique is a blend of chain ladder development methods and an expected loss method, whereby the total reserve estimate equals the unpaid portion of a predetermined expected unpaid ult...
216
10K
ScorSE-AR_2011
990
The key characteristics of these SCOR Non-Life renewals at 1 January 2011 were as follows (all figures below are at constant exchange rates):  stable weighted average underwriting ratio (-0.2 percentage points), hence stability of expected technical profitability;  13% rise in gross written premiums to a total of EUR...
78
annual_report
3992
9,023
· Investments as of December 31, 2009 totaled $60.22 billion, reflecting an increase in carrying value of $445 million from $59.77 billion as of December 31, 2008.
27
10K
5602
2,929
On December 22, 2017, the U.S. enacted Public Law 115-97, known informally as the Tax Cuts and Jobs Act (the Tax Act). The Tax Act reduced the statutory rate of U.S. federal corporate income tax to 21 percent and enacted numerous other changes impacting AIG and the insurance industry. At December 31, 2017, we originall...
196
10K
2243
292
taxable income or loss those items of income of the non-U.S. subsidiary, TRZ, which are subject to U.S. income tax currently, pursuant to Subpart F income rules of the Internal Revenue Code, and included, as appropriate, in the consolidated federal income tax return.
43
10K
NatixisSA-AR_2018
7,955
FINANCIAL DATA Consolidated financial statements and notes 355Natixis Registration Document 2018
11
annual_report
3498
1,114
The decrease to our GAAP combined ratio was due to decreases in both our loss and LAE ratio and expense ratio. Our 2007 results included $48.3 million or 2.6 points of favorable development on prior accident year losses due to lower than expected frequency for professional liability in specialty lines and lower than ex...
76
10K
3623
877
In June, 2006, the Texas Department of Insurance (TDI) placed VFIC, along with several of its affiliates, into rehabilitation and subsequently into liquidation (except for VIG which remains in rehabilitation). In accordance with the TDI liquidation orders, all VIG subsidiary reinsurance agreements were terminated. Prio...
163
10K
5618
674
Premiums earned increased 1% to $6,372 million in 2018 from $6,311 million in 2017. Insurance premiums (including the impact of rate changes) are generally earned evenly over the policy term, and accordingly recent rate increases will be earned over the upcoming quarters. Premiums earned in 2018 are related to business...
69
10K
NatixisSA-AR_2007
3,800
and give information on potential variations in P&L, activity by activity, historical stress tests involve reproducing groups of variations in market parameters observed during previous periods of crisis, over a short time horizon, in order to provide ex-post simulation of the orders of magnitude of variations in recor...
83
annual_report
SwissReCorporateSolutions-AR_2018
453
Tax rate reconciliation The following table reconciles the expected tax expense/benefit at the Swiss statutory tax rate to the actual tax expense/benefit in the accompanying income statement: Income tax at the Swiss statutory tax rate of 21.15% (2017: 20.61%) –196 –119 Increase (decrease) in the income tax charge resul...
94
annual_report
ASRNederlandNV-AR_2008
194
ASR rents out its investment properties to third-party unassociated companies by means of various rental contracts that cannot be cancelled. Certain contracts contain renewal options for various periods of time. The rent revenues are recognised as investment income on a straight-line basis over the period to which they...
49
annual_report
5422
2,484
Total Mutual Funds segment AUM increased in 2016 primarily due to market appreciation and the adoption of 10 Schroders' funds partially offset by net outflows and the continued run off of AUM related to the life and annuity run-off business held for sale.
43
10K
2900
656
Premium estimates, the corresponding acquisition costs, premiums receivable and unearned premium reserves are established on a contract level for significant accounts due but not reported by the ceding company at the end of each accounting period. The estimated ultimate premium for the contract, actual accounts reporte...
136
10K
gb_lloyds_banking_grp-AR_2011
4,139
Derivatives designated as net investment hedges: Cross currency swaps 49 – 1
12
annual_report
5925
1,086
The Company views gross unrealized losses on fixed maturities as non-credit related and through its assessment of unrealized losses has determined that these securities will recover, allowing the Company to realize the anticipated long-term economic value. The Company currently does not intend to sell, nor does it expe...
196
10K
gb_lloyds_banking_grp-AR_2015
4,798
Additional Tier 1 securities issued in the year: Sterling notes (£3,725 million nominal) – 3,725 –
16
annual_report
4502
456
Total Catastrophe loss and LAE reserves, net of reinsurance recoverables, developed favorably by $6.4 million, $1.2 million and $18.1 million for the years ended December 31, 2011, 2010 and 2009, respectively. The Preferred segment reported favorable catastrophe reserve development of $5.5 million, $4.9 million and $18...
100
10K
de_allianz-AR_2009
3,553
Allianz SE share option plan of former RAS Group (modified RAS Group share option plan 2005) The former RAS Group awarded eligible members of senior management with share purchase options on RAS ordinary shares. The share options had a vesting period of 18 months to 2 years and a term of 6.5 to 7 years.
55
annual_report
5376
1,753
Our consolidated calendar year net loss ratio was lower than our consolidated current accident year net loss ratio due to the recognition of net favorable loss development, as shown in the previous table.
33
10K
nl_ing_grp-AR_2015
2,313
Available-for-sale financial assets Available-for-sale financial assets include available-for-sale debt securities and available-for-sale equity securities. Available-for-sale financial assets are initially recognised at fair value plus transaction costs. For available-for-sale debt securities, the difference between c...
180
annual_report
AegonNV-AR_2012
3,301
2.31 Impairment charges / (Reversals) Impairment charges and reversals include impairments and reversals on investments in financial assets, impairments and reversals on the valuation of insurance assets and liabilities and other non-financial assets and receivables. Refer to note 15.
39
annual_report
ScorSE-AR_2008
456
The combination of SCOR and Converium created a group organised as a network based on six platforms (“hubs”) worldwide. Four hubs have been created in Europe (Paris, Zurich, Cologne and London), one in the USA (New York) and one for Asia- Pacifi c (in Singapore).
45
annual_report
NatwestGroupPLC-AR_2012
6,481
The effects on the UK, European and global economies of the potential dissolution of the EMU, exit of one or more EU member states from the EMU and the redenomination of financial instruments from the euro to a different currency, are impossible to predict fully. However, if any such events were to occur they would lik...
129
annual_report
NatwestGroupPLC-AR_2019
3,264
 Financial crime policies were refreshed and updated to reflect changes to the regulatory environment and industry best practice.
19
annual_report
4179
2,901
In 2009, although total gross written premiums increased by 3.3%, net premiums written had increased by only 0.1% compared to 2008 as a result of the $64.1 million increase in ceded written premiums when compared to 2008. The lower ceded written premium in 2008 reflects the purchase of catastrophe cover in 2007 which p...
61
10K
StandardLifeAberdeenPLC-AR_2017
1,868
Underpins to be applied for deferred variable pay awards to be granted in 2019 in respect of 2018 performance The following table sets out the underpin measures that will be used for the deferred awards to be granted in 2019 (which will be made in respect of 2018 performance).
49
annual_report
501
1,132
2. Consolidated Balance Sheets, as of December 31, 1996 and December 31, 1995.
13
10K
HiscoxLtd-AR_2015
672
iv) Accounting for the defined benefit scheme As explained in note 2.15, the Group recognises the present value of the defined benefit obligation less the fair value of plan assets at the balance sheet date. The Audit Committee has reviewed the report of the key judgements in the financial statements from the Chief Fin...
68
annual_report
NatwestGroupPLC-AR_2019
5,038
It is strongly advised that you seek independent professional advice before making any investment.
14
annual_report
3398
1,367
The Company has exposure to credit risk related to reinsurance balances receivable and reinsurance recoverable on paid and unpaid losses (see Note 5). The credit risk exposure related to these balances is mitigated by several factors, including but not limited to, credit checks performed as part of the underwriting pro...
80
10K
5811
442
For additional discussion regarding business trends, see Part I, Item 1, “Business” of this Annual Report on Form 10-K.
19
10K
fr_axa-AR_2005
620
For other members of the Management Board, four factors are taken into consideration: – Group performance (adjusted earnings per share and underlying earnings), – AXA stock price performance compared with its competitors, – performance of the business unit or functional area of responsibility, measured against objectiv...
53
annual_report
5915
1,291
The following table summarizes the unaudited results of operations for each quarter of 2020 and 2019.
16
10K
3648
3,179
The estimated fair value of MSRs is principally determined through the use of internal discounted cash flow models which utilize various assumptions as to discount rates, loan-prepayments, and servicing costs. The use of different valuation assumptions and inputs as well as assumptions relating to the collection of exp...
60
10K
3103
6,641
Activity in the Company’s issued and outstanding Common Stock is summarized as follows:
13
10K
4158
384
The Company’s accounting policies related to reserves and disclosures for unpaid losses and loss adjustment expenses and related estimates of reinsurance recoverables are particularly critical to an assessment of the Company’s financial results. Given the nature of the surety business, the determination of these balanc...
131
10K
fr_axa-AR_2016
9,529
At the AXA headquarters, the waste food is separately collected in organic bins in order to recycle them. Since 2016, this canteen is also certifi ed as a “Green Restaurant”.
30
annual_report
SwissReAG-AR_1982
586
Risk premium basis: System of Life reinsurance under wtiicti ttie ̂ reinsurer only participates in ttie deatti risk in so far as it exceeds ttie -> policy reserves (cf. co-insur­ ance basis).
32
annual_report
743
311
Available-for-sale securities are recorded at fair value, whereas held-to-maturity securities are recorded at amortized cost. Unrealized gains and losses, net of the related income tax effect, on available-for-sale securities are excluded from income and reported in the separate component of shareholders' equity. Trans...
79
10K
2939
887
From time to time, the Company and its subsidiaries are subject to other legal proceedings and claims in the ordinary course of business. In the opinion of management, the effects, if any, of such litigation are not expected to be material to the Company’s consolidated financial condition or results of operations. In a...
102
10K
5789
1,305
2013, the court in Tisminesky issued an order sua sponte staying and administratively closing that action pending a determination by the JPML as to whether it should be transferred to the Northern District of Texas for consolidation and coordination with the other Stanford-related actions. On June 11, 2013, Willis of C...
126
10K
RaiffeisenBankInternationalAG-AR_2010
2,726
Companies can carry out business with related parties that may affect the entity’s asset, financial and earnings position. The following related companies have been identified mainly as related parties: Parent companies are Raiffeisen-LandesbankenHolding GmbH, Vienna, and Raiffeisen Zentralbank Österreich Aktiengesells...
41
annual_report
4999
2,171
Pre-tax income was $123.4 million and $58.9 million in our Bermuda and U.S. companies, respectively, for the year ended December 31, 2014. Pre-tax income was $151.3 million and $106.9 million in our Bermuda and U.S. companies, respectively, for the year ended December 31, 2013.
44
10K
4736
631
The Financial Services-Insurance Topic of the ASC provides accounting guidance for financial guarantee insurance contracts issued by insurance enterprises, including the recognition and measurement of claim liabilities (i.e. loss reserves). Under this guidance, a loss reserve is recorded on the balance sheet for the ex...
202
10K
2824
1,585
The Company has certain embedded derivatives which are required to be separated from their host contracts and accounted for as derivatives. These host contracts include guaranteed rate of return contracts, guaranteed minimum withdrawal, accumulation, and interest benefit contracts, and modified coinsurance
41
10K
5884
923
In March 2020, we issued $600 million of 4.500% senior notes due April 1, 2025 and $500 million of 4.875% senior notes due April 1, 2030. Our net proceeds, reduced for the underwriters' discount and commission and offering expenses paid, were approximately $1,088 million as of December 31, 2020. We used the net proceed...
58
10K
4311
1,117
· Casualty classes of business, excluding medical malpractice and individual risk contracts, relating to several prior accident years ($11.5 million decrease),
21
10K
4982
1,294
Consolidated net realized investment gains of $2.6 million during the year ended December 31, 2013 are the result of net realized gains from the sale of debt and equity securities classified as available for sale, following our asset/liability management and tax planning strategies. The net realized gains were partiall...
74
10K
5034
1,442
As outlined in Item 1, "Business," the Insurance segment provides commercial property, casualty and specialty insurance products on a global basis. Our insurance operations are organized into four underwriting divisions: Professional, Casualty, EPC and Specialty.
35
10K
4178
635
The selected historical consolidated financial data presented below as of and for each of the five years ended December 31, 2010 have been derived from the audited consolidated financial statements of the Company, which have been prepared in accordance with accounting principles generally accepted in the United States ...
52
10K
982
288
The growth in administrative fees is consistent with the increased number of annuity and life insurance contracts in force during 1998 compared to the prior two years. Nearly all of the increase in surrender charges over the past two years is attributable to policyholder withdrawals in the Variable Annuities segment, a...
62
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2011
1,897
Large and very large losses in reinsurance according to individual calendar years (net)
13
annual_report
2938
6,003
Net premiums earned for the year ended December 31, 2004 decreased $12.9 million, or 4%, to $308.1 million from $320.9 million for 2003. This decrease was a result of a planned decrease in our exited lines segment of $52.6 million compared to the year earlier period, offset by an increase in net premiums earned in the ...
100
10K
5920
1,985
Pursuant to the terms of a Recapitalization Agreement entered into on August 13, 2020 among us, the Trident V Funds, which are advised by Stone Point, and the Dowling Funds (the "Recapitalization Agreement"), we agreed to exchange a portion of our indirect interest in Northshore, the holding company that owns Atrium an...
81
10K
4466
10,117
(1)Included in the total liability balance as of December 31, 2010 are reserves for variable annuity death benefits of $85 million, variable annuity income benefits of $211 million, variable annuity accumulation benefits of $88 million, variable annuity withdrawal benefits of $47 million and other guarantees of $168 mi...
144
10K
AvivaPLC-AR_2005
1,213
Cash and cash equivalents at 31 December 48d 10,107 2,960 13,067 12,126
12
annual_report
SwissReAG-AR_2004
1,452
h in es e lo w la n d s an d th e m id d le re ac h es o f t h e
27
annual_report
212
369
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Financial Institutions Insurance Group, Ltd. as of December 31, 1995 and 1994, and the consolidated results of their operations and their cash flows for each of the th...
103
10K
2289
369
The Company currently has a $1.8 million term loan with Standard Federal Bank, N.A. repayable in monthly installments of principal and interest of $0.1 million, with an interest rate equal to the bank's prime rate (4.25% at June 30, 2003) plus one percent per annum, and a maturity date of September 30, 2004. The loan a...
69
10K
444
441
The Company operates in two industry segments: Construction contracting and insurance. Information relating to the two segments is summarized as follows:
21
10K
1431
191
Under the quota share reinsurance treaty, Farmers Re assumed $1,000.0 million of premiums in each of the years ended 2000 and 1999. Losses and loss adjustment expenses incurred under this treaty were $686.9 million in 2000 and $661.3 million in 1999 and non-life reinsurance commissions paid were $288.1 million in 2000 ...
88
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2000
941
Group companies that write a significant portion of their business in foreign currency generally safeguard themselves against exchange losses by attempting to match assets and liabilities in the same currency. Where exchange gains or losses occur nevertheless in the translation of the balance sheet currencies of the co...
60
annual_report
4659
5,031
(3) The other investments reported as Level 3 assets represent four real estate funds which were previously presented with our limited partnerships reported under the equity method of accounting and therefore were not included in our fair value measurements table. This table has been adjusted to reflect the appropriate...
56
10K
fr_axa-AR_2003
2,146
ADJUSTED EARNINGS 43 290 348 137 167 Average exchange rate : 1.00 € = £ 0.69 0.63 0.63 0.62 0.62
20
annual_report
3604
879
Life’s premiums and policy charges increased $6.2 million, or 7.5%, in 2007 compared to $6.2 million, or 8.1%, in 2006.
20
10K
gb_prudential-AR_2007
3,609
Borrowings are repayable as follows: Within 1 year or on demand – – 2,470 2,022 2,470 2,022
17
annual_report
ScorSE-AR_2019
4,097
The programs implemented in these areas and the associated performance indicators (trainings) are described in the following sections.
18
annual_report
NNGroupNV-AR_2018
706
In an effort to ensure consistency in its engagement efforts, in 2018 NN IP carried out an analysis of 49 companies in the Oil & Gas sector globally, and found significant variation in the level of detail they disclose on their activities and the associated climate change risks. European Oil & Gas giants, for example, ...
141
annual_report
NatwestGroupPLC-AR_2016
9,330
The Group’s capital position is influenced by pension risk in several respects: Pillar 1 capital is impacted by the requirement that net pension assets are to be deduced from capital and that actuarial gains/losses impact reserves and, by extension, CET1 capital; Pillar 2A requirements result in the Group being require...
84
annual_report
NatixisSA-AR_2003
4,160
In 2004, controls are set to focus on: I monitoring credit risk, the results production/
15
annual_report
PosteItalianeSpA-AR_2018
4,596
Net profit/(loss) for the year (502) 146 499 546 - 689
11
annual_report
Sampoplc-AR_2001
2,090
Provision for rents – 1 85 LONG-TERM LIABILITIES (5 years or longer)
12
annual_report