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NatwestGroupPLC-AR_2014
2,248
• Commercial & Private Banking (CPB), comprising two reportable segments, Commercial Banking and Private Banking.
15
annual_report
SwissReCorporateSolutions-AR_2017
747
On the basis of the work performed, we consider the methods and assumption used by management to be reasonable. We agree with their conclusion that the book values for all investments in subsidiaries are recoverable.
35
annual_report
GjensidigeForsikringASA-AR_2019
771
We have now implemented better sustainability screening of our suppliers and will use the results to ensure that measures are implemented to improve areas identified for improvement, including in relation to the environment, working conditions and satisfactory management and control.
40
annual_report
BeazleyPLC-AR_2019
2,454
Less unearned portion of ultimate losses ($m) – – – – – – – – – (40.8) (640.1) (680.9)
19
annual_report
5886
1,076
The Company implemented a hedge program using fixed income total return swaps to mitigate the interest rate exposure in the ULSG policy statutory liability.
24
10K
AegonNV-AR_2006
4,745
Bifurcation is the measurement and presentation of embedded derivatives separate from the host contracts, as if they were standalone derivative fi nancial instruments.
23
annual_report
ScorSE-AR_2019
3,790
The registration of shares in the bearer share accounts held by the authorized financial intermediary shall be demonstrated by a certificate issued by the latter, which must be attached to the remote voting form, to the proxy voting form, or to the request for an entry card completed in the shareholder’s name or on beh...
63
annual_report
5336
667
Gross margin from operations increased to 18.3% in 2016 from 15.4% in 2015.
13
10K
4921
2,933
The Company maintains defined benefit plans that cover certain employees as follows:
12
10K
4082
1,619
procedures in place regarding counterparties, including review and approval of the counterparty and the Company’s exposure limit, collateral posting requirements, collateral monitoring and margin calls on collateral. The Company manages counterparty credit risk on an individual counterparty basis through master netting...
144
10K
HannoverRueckSE-AR_2019
3,943
Hannover Life Reassurance Company of America (Bermuda) Ltd. Purvis House, First Floor 29 Victoria Street Hamilton, HM 10
18
annual_report
LloydsBankingGroupPLC-AR_2020
4,607
Financial statements 46. Contingent liabilities, commitments and guarantees 295 47. Structured entities 297 48. Financial instruments 298 49. Transfers of financial assets 311 50. Offsetting of financial assets and liabilities 312 51. Financial risk management 314 52. Consolidated cash flow statement 332 53. Future acc...
47
annual_report
3617
1,285
(xv) settlement of tax liabilities for amounts that differ significantly from those recorded on the balance sheets;
17
10K
4441
423
Interest expense - was $47.2 million and $51.8 million for the twelve-month periods ended December 31, 2011 and 2010, respectively. The $4.6 million decrease was primarily due to a decrease in interest expense related to unrecognized tax benefits during the twelve-month period ended December 31, 2011, as compared to th...
108
10K
1100
261
The Company's net income and capital and surplus, as determined in accordance with statutory accounting principles and practices for December 31 are as follows (unaudited):
25
10K
HelvetiaHoldingAG-AR_2013
2,302
Current income tax assets 0.1 17.8 – – 17.9 as of 31.12.2012 CHF EUR USD Others Total in CHF million adjusted adjusted adjusted
23
annual_report
2375
3,243
Our contractual obligations and commercial commitments as of December 31, 2004 by maturity follow:
14
10K
AegonNV-AR_2005
1,052
AEGON Hungary also provides asset management services through its subsidiary, AEGON Hungary Investment Fund Management Company. It offers six mutual funds to the public: domestic bond, domestic equity, international bond, international equity, money market, and a mixed fund. AEGON Hungary Investment Fund Management Com...
93
annual_report
5291
1,402
Reinsurance recoverables related to medical claims are included in premium and related receivables. Changes in estimates of incurred claims for prior years are primarily attributable to reserving under moderately adverse conditions. Additionally, as a result of minimum HBR and other return of premium programs, approxim...
277
10K
5034
2,166
Pursuant to the terms of the Implementation Agreement, the Catlin Acquisition was implemented by way of a scheme of arrangement (the "Scheme") under Section 99 of the Companies Act 1981 of Bermuda, as amended (the "Companies Act"), and sanctioned by the Supreme Court of Bermuda (the "Court"). Immediately after such Cou...
96
10K
2601
1,109
We believe that the operational cash flow of our Health Services segment will not be sufficient to meet our anticipated operational needs for 2005. Therefore, this segment is expected to continue to fund its cash needs through the proceeds of the sale of Standard Life, external borrowings and capital contributions from...
53
10K
Sampoplc-AR_2016
3,351
Dividend-adjusted starting price at 31 Dec. 2016 10.07 16.97 34.16 41.23
11
annual_report
NatixisSA-AR_2008
10,228
rights attached to these securities in accordance with legal and regulatory requirements, at its sole initiative, setting off the fees for the capital increase ■
25
annual_report
4082
1,518
In August 2009, the FASB issued ASU 2009-05, “Fair Value Measurements and Disclosures (Topic 820)-Measuring Liabilities at Fair Value,” to clarify that in circumstances in which a quoted price in an active market for the identical liability is not available, the Company should not make an adjustment to fair value for r...
94
10K
NatixisSA-AR_2020
3,234
Financial liabilities designated at fair value through profit or loss 208,467 207,837 497 145,687 497 157,143 40,904
17
annual_report
4430
818
The following table summarizes the net effect of changes in foreign currency exchange rates compared to the U.S. dollar on the percentage change in net premiums written in 2011 and 2010 compared to the respective immediately prior year.
38
10K
1245
203
INVESTMENT DIVERSIFICATIONS: The Companies' investment policies related to the investment portfolio require diversification by asset type, company, and industry and set limits on the amount which can be invested in an individual issuer. Such policies are at least as restrictive as those set forth by regulatory authorit...
223
10K
NatixisSA-AR_2011
352
Payment fl ows are processed by specialist subsidiary Natixis Paiements. It handles payment transactions (checks, mass and single transactions, electronic banking, etc.) across the entire range of interbank channels, while also offering affi liated services. Natixis Paiements, a unifi ed payments operator for Groupe BP...
67
annual_report
StandardLifeAberdeenPLC-AR_2013
1,717
Loans are initially measured at fair value plus directly attributable transaction costs. Subsequently, other than those loans designated as at FVTPL, they are measured at amortised cost, using the effective interest rate (EIR) method, less any impairment losses. Revenue from financial assets classified as loans are rec...
56
annual_report
NatwestGroupPLC-AR_2016
4,976
These reductions were predominantly driven by the portfolio sale of non-performing SME lending and buy-to-let mortgages in Ulster Bank RoI in Q4 2016 and related writeoffs. These decreases were offset by the adverse impact of exchange rate movements of £1.0 billion in REIL and £0.5 billion in loan impairment provisions...
51
annual_report
SwissLifeHoldingAG-AR_2004
680
63Process management The ALM process is managed centrally. The Asset and Liability Management Committee (ALCO), composed of members of the Corporate Executive Board and presided over by the Chief Executive Officer (CEO), sets the parameters. The CEO is responsible for the Group-wide ALM process. At local level, the com...
86
annual_report
de_allianz-AR_2010
2,602
Debt and equity securities included in financial assets held for trading Debt and equity securities included in financial assets held for trading are primarily marketable and listed securities. As of December 31, 2010, the debt securities include € 173 mn (2009: € 31 mn) from public sector issuers and € 373 mn (2009: €...
59
annual_report
TopdanmarkAS-AR_2009
1,297
Topdanmark Invest A/S (investment) 160 167 web-postkassen.dk ApS (Consumer service) 0 (2)
12
annual_report
gb_prudential-AR_2009
1,029
The removal and resignation of the Company’s directors is governed by the relevant provisions of the Companies Act 2006, the Combined Code, and the Company’s Articles of Association.
28
annual_report
1089
1,008
Basis of Presentation The accompanying Consolidated Financial Statements include the accounts of AAG and its subsidiaries. Certain reclassifications have been made to prior years to conform to the current year's presentation. Acquisitions and sales of subsidiaries have resulted in certain differences in the financial s...
85
10K
4997
812
Our reinsurance and insurance subsidiaries analyze, at least quarterly, liabilities for unpaid loss and LAE established in prior years and adjust their expected ultimate cost, where necessary, to reflect favorable or unfavorable development in loss experience and new information, including, for certain catastrophe even...
139
10K
SwissLifeHoldingAG-AR_2015
1,764
Premiums ceded to reinsurers –10 –156 –40 –10 – 0 –217 76 –141
13
annual_report
SwissLifeHoldingAG-AR_2018
3,254
We examined if the models used in the valuation of actuarially determined future life policyholder benefits are reasonable and in line with financial reporting requirements and industry accepted practice.
29
annual_report
2133
464
The amortized cost and fair value of fixed maturities at December 31, 2003, by effective maturity, follows:
17
10K
4447
2,360
• For the year ended December 31, 2009, the gain on GMWB derivatives, net, was primarily due to liability model assumption updates related to favorable policyholder experience of $566, the relative outperformance of the underlying actively managed funds as compared to their respective indices of $550, and the impact of...
101
10K
1446
486
Physicians' own claims department staff continues to process the run off of the remaining medical professional liability loss and loss adjustment expense claims. As the "run off" continues, overhead costs are being minimized as much as possible.
37
10K
4956
974
The amount of restricted net assets of United Property & Casualty Insurance Company at December 31, 2014 was $111,529,000.
19
10K
RaiffeisenBankInternationalAG-AR_2009
582
Funding measures Intensified cooperation among Raiffeisen International, its network banks, and the Group, particularly in regard to managing liquidity, providing funding, and supplying treasury products, made it possible to cope well with the challenges of the market environment again in 2009. Especially in the first ...
98
annual_report
SwissReAG-AR_2009
212
This market environment posed a twofold challenge to industry profitability. The severe recession in the first half of 2009 reduced demand for insurance, while the historically low interest rate environment prevented making up for lower premium income with higher investment returns.
41
annual_report
NatixisSA-AR_2013
2,100
The ITSS-BC risk mapping exercise was conducted for the third time in 2013. This exercise systematically is not automatically included in the annual cycle for setting security goals (security orientation plan) as closely as possible to business line and regulatory requirements. ITSS-BC initiatives are now part of a thr...
50
annual_report
1914
657
However, in all following quarters, the ongoing effect of changes in the market occurring in the current quarter will be determined by the difference in beginning of quarter to end of quarter variable account balances. For purposes of this guidance, the change in account values is assumed to correlate with the change i...
56
10K
858
568
Tobacco products - These inventories, aggregating $227.9 and $247.4 at December 31, 1997 and 1996, respectively, are stated at the lower of cost or market, using the last-in, first-out (LIFO) method.
31
10K
ch_zurich_insurance_group-AR_2015
872
• The Group links variable remuneration awards to key performance factors which include the performance of the Group, the business segments, business units, functions as well as individual achievements. • The Group’s STIP and LTIP used for variable remuneration are linked to appropriate performance criteria and the ove...
84
annual_report
ASRNederlandNV-AR_2013
578
Variable pay Of the variable pay component, one-third is determined by an employee’s score on individual targets in a calendar year. The remaining two-thirds are determined by the financial performance of a.s.r. measured in terms of financial results and customer appreciation. At the beginning of every calendar year, e...
125
annual_report
AegonNV-AR_2010
3,427
EUR 500 million Medium-Term Notes 4.125% December 8 2004 / 14 521 507
13
annual_report
SwissLifeHoldingAG-AR_2008
369
An additional scenario-based ALM process was conducted in the fourth quarter of 2008 so that the latest data could be used to set the risk capacity and risk appetite. This provided the basis for adjusting the investment strategy (strategic asset allocation) and the bonus allocation to policyholders to ref lect the prev...
53
annual_report
AvivaPLC-AR_2014
1,285
Committee role and responsibilities — The committee assists the Board by regularly reviewing the composition of the Board and conducting a rigorous and transparent process when recommending or renewing the appointment of directors to the Board. The main responsibilities of the committee are to: • Evaluate and review th...
77
annual_report
RaiffeisenBankInternationalAG-AR_2005
1,182
Pure trading in financial instruments is centrally controlled and subject to strictly monitored limits. In addition, Raiffeisen International has a portfolio of medium-term and long-term financial investments.
27
annual_report
DirectLineInsuranceGroupPLC-AR_2020
1,734
The Board remains committed to progressing women into senior roles and aims to increase female representation at executive level through associated development programmes for high-potential females. As at 31 December 2020, female representation at Executive Committee level and their direct reports was 45.7%.
43
annual_report
fr_axa-AR_2009
6,297
Please refer to pages 206 to 208 of the “Quantitative and Qualitative
12
annual_report
1379
416
The principal and accrued interest of notes receivable from shareholders at December 31, 2000 and 1999 have been reflected as a reduction of shareholders' equity.
25
10K
3180
548
When the sale of a loan is not classified as a true sale pursuant to the criteria established by SFAS 140, the sale is classified as a secured borrowing, no gain on sale is recognized, and the note receivable and the corresponding payable under participation agreement remain on the balance sheet.
51
10K
INGGroepNV-AR_2014
4,069
Gross amounts of recognised financial assets offset in the balance sheet
11
annual_report
5671
1,305
The tax expense of $24 million in 2019 was principally due to the geographic distribution of pre-tax income with the expense being driven by pre-tax income generated in our U.S. and European operations, partially offset by pre-tax losses in our U.K. operations.
42
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2009
2,447
Participating interests 298 pension provisions 43 ff. picc asset Management company ltd. (paMc) 119 premium 86, 92 ff.
18
annual_report
5034
1,574
Our general investment and financing operations are reflected in Corporate and Other. In addition, results of our Run-Off Life Operations are reported within "Corporate and Other." We ceased writing new life reinsurance contracts in 2009 and, since that time, have been managing the run-off of our life reinsurance opera...
49
10K
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2010
110
What does Munich Re have to do with power generation in North Africa? And why is Munich Re concerning itself with off shore oil drilling? Legit imate questions, answered by Munich Re CEO Nikolaus von Bomhard.
36
annual_report
Sampoplc-AR_1999
440
menr , non-life insurance + bonu es and rebates, life insuril'nce
11
annual_report
5278
1,209
Valuation allowances on mortgage loans are established based upon inherent losses expected by management to be realized in connection with future dispositions or settlement of mortgage loans, including foreclosures. The Company establishes valuation allowances for estimated impairments on an individual loan basis as of...
191
10K
5798
1,472
premium; however, the amounts of fees charged are not dependent on the amount or period of insurance coverage provided and do not entail any obligation to return any portion of those funds. The costs associated with generating fee income are not separately tracked.
43
10K
RaiffeisenBankInternationalAG-AR_2018
3,537
The integrated stress test focuses primarily on the tier 1 ratio at the end of the multi-year observation period. It should not fall below a sustainable level, meaning that is should not require the bank to substantially increase capital or to significantly reduce its business activities. The current minimum amount of ...
103
annual_report
ASRNederlandNV-AR_2009
1,115
Non-life insurance premiums Non-life insurance premiums are accounted for in the period in which the premiums were earned. invoiced but not yet earned premiums are included under the obligations arising from insurance contracts as explained in chapter 2.28.
38
annual_report
2032
438
(c) Income tax payments by TRH totaled $29,962,000, $27,702,000 and $47,594,000 in 2002, 2001 and 2000, respectively.
17
10K
822
181
Berkshire's management continues to believe that, eventually, a large catastrophe event will occur that will produce a significant loss to the Insurance Group, although the timing of the loss cannot be predicted. The Insurance Group's exposure to loss from a single event with respect to in-force policies at year end 19...
84
10K
de_allianz-AR_2018
1,886
Furthermore, the risk capital reflecting the risk profile and the cost of capital is an important aspect considered in business decisions.
21
annual_report
2741
10,821
In December 2005, the Company issued 38.9 million ordinary shares at a price of $65.0 per share to support capital requirements subsequent to the insured hurricane losses during the 2005 Atlantic hurricane season and the conclusion of the loss related to the independent actuarial process with Winterthur Swiss Insurance...
59
10K
4295
796
There are no individual issuers rated below investment grade in the RMBS sector which have unrealized loss positions greater than $0.2 million.
22
10K
2976
1,130
As of December 31, 2006, aggregate future minimum lease payments, net of expected sub-lease receipts, under operating leases are as follows (in thousands):
23
10K
PhoenixGroupHoldingsPLC-AR_2012
1,846
Profit/(loss) for the year before tax 323 (4) Non-cash movements in profit for the year before tax
17
annual_report
AvivaPLC-AR_2009
1,808
Remuneration and benefits As described in this Report the operation of the ABP, the OATTV Plan and LTIP is at the Company’s discretion and, in the case of the long-term savings plans, at the trustees’ discretion.
36
annual_report
StandardLifeAberdeenPLC-AR_2016
3,230
(c)(v)(ii) Financial liabilities designated at FVTPL The Group has designated unit linked non-participating investment contract liabilities as at FVTPL. As the fair value of the liability is based on the value of the underlying portfolio of assets, the movement, during the period and cumulatively, in the fair value of ...
62
annual_report
1431
220
General and Administrative Expenses. General and administrative expenses increased from $204.1 million in 1998 to $266.3 million in 1999, an increase of $62.2 million, or 30.5%. This increase in expense was primarily due to $19.1 million of expenses incurred in connection with providing management services to the perso...
109
10K
2861
1,736
The increase in U.S. treaty includes $55.4 million in respect of three contracts written by our structured risk team. In 2004, the gross premiums written increased by 52.8% compared to 2003. We saw an increase of $154.4 million in 2004 largely due to increases in U.S. casualty, although U.S. auto liability business wri...
73
10K
NatwestGroupPLC-AR_2014
3,835
Conduct risk 185 Sources of risk 185 Key developments in 2014 186 Controls and assurance 186 Risk appetite 186 Risk monitoring and measurement
23
annual_report
5866
1,461
The remaining portion of our unearned premiums primarily relates to our long-term care insurance business where the underlying assumptions related to premium recognition are not subject to significant uncertainty.
29
10K
fr_axa-AR_2003
191
– deals with any issue that needs examining in its opinion, and reports the findings to the Supervisory Board.
19
annual_report
AvivaPLC-AR_2005
2,353
50 – Risk management policies continued (iii) Market risk Market risk is the risk of adverse financial impact due to changes in fair values of financial instruments from fluctuations in foreign currency exchange rates, interest rates, property prices and equity prices. Market risk arises in business units due to fluctu...
88
annual_report
5108
1,922
Our investments in ABS at December 31, 2015 consist mainly of CLO debt tranched securities (“CLO Debt”) purchased primarily as new issues during 2013-2015. Of these new issues all had credit ratings of AA or better. We utilize a scenario-based approach to reviewing our CLO Debt portfolio based on the current asset mark...
116
10K
4743
1,196
The contractual maturities of our investments as of December 31, 2013 are summarized below:
14
10K
4635
670
As noted above, there was unfavorable loss emergence in 2012 compared with claims development patterns assumed in earlier periods associated with CATA’s Terminated Program Business. Specifically, cumulative losses for this business, which include both loss payments and case reserves, in respect of prior accident years ...
87
10K
INGGroepNV-AR_2005
236
ING Mexico aims to continue building a customer-centric organisation with top-performing sales forces, improved channel and client service and disciplined underwriting.
21
annual_report
3902
1,042
In projections using December 31, 2008 data, the methods that use explicit medical cost inflation assumptions included medical cost inflation assumptions ranging from 3.5% to 8.5%. Corresponding medical cost inflation assumptions in prior projections were 3.5% to 8.5% at December 31, 2007 and 3.5% to 9.0% at December 3...
145
10K
SwissLifeHoldingAG-AR_2010
2,332
Financial liabilities for the account and risk of the Swiss Life Group’s customers – 17 487 – 17 487
19
annual_report
5512
2,351
Insurance operating costs and other expenses increased 18%, primarily due to the inclusion of two months of expenses for the acquired Aetna's U.S. group life and disability business, state guaranty fund assessments of $20 before tax related to the liquidation of a life and health insurance company and an increase in va...
54
10K
67
394
The weighted average assumed discount rates used in determining the actuarial benefit obligations were 8.0% in 1994 and 7.25% in 1993. The rate of assumed compensation increase was 5.0% in 1994 and 1993 and the expected long- term rate of return on plan assets was 8.0% in 1994 and 1993.
50
10K
AegonNV-AR_2013
2,766
2.8 Investments for account of policyholders Investments held for account of policyholders consist of investments in financial assets, excluding derivatives, as well as investments in real estate. Investment return on these assets is passed on to the policyholder. Also included are the assets held by consolidated inves...
69
annual_report
3999
517
The benchmark interest rate for the Company’s variable interest rate debt is the London Interbank Offered Rate (“LIBOR”). Due to lower three-month LIBOR rates, interest expense decreased $0.8 million, or 35.2 percent, for 2009 compared to 2008. Interest expense also decreased $0.8 million, or 26.4 percent, for 2008 com...
84
10K
5614
1,190
In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments. The amendments in this ASU introduce broad changes to accounting for credit impairment of financial instruments. The primary updates include the introduction of a new current expec...
149
10K
Sampoplc-AR_2006
938
Intangible assets with finite useful lives are measured at historical cost less accumulated amortisation and impairment losses. Intangible assets are amortised on a straight-line basis over the
27
annual_report
713
222
Total expenses for 1996 were $12,592,000 compared to $17,375,000 in 1995. Excluding the previously described one-time charges of $884,000 in merger-related expenses and $750,000 net loss on a marketing agreement, total expenses for 1996 would have been $10,958,000, a decrease of $6,417,000 or 37%, when compared to 1995...
60
10K
DirectLineInsuranceGroupPLC-AR_2017
2,791
Profit for the year 50.6 764.9 Adjustments for: Investment return (182.5) (829.4) Finance costs 124.6 46.9 Impairment of loans to share trusts 16.8 16.8 Tax credit (15.9) (0.5)
28
annual_report
2192
680
In December 2002, the FASB issued SFAS No. 148, “Accounting for Stock-Based Compensation-Transition and Disclosure”. This statement is effective for 2003 and amends SFAS No. 123, “Accounting for Stock-Based Compensation” by providing alternative methods of transition for a voluntary change to the fair value based metho...
100
10K
NatixisSA-AR_2009
1,076
The deterioration in the economic backdrop has weighed on overall activity, with varying situations in different markets, but Natixis remains the leading guarantee insurance company in France, with outstanding guarantees up 8% at €58 billion.
35
annual_report
fr_axa-AR_2010
4,030
IFRS standards. This is an historical value at the date of grant, calculated for accounting purposes as described in
19
annual_report
AegonNV-AR_2015
3,863
In addition, Aegon also makes use of cross currency swaps to convert variable or fixed foreign currency cash flows into fixed cash flows in local currencies. The cash flows from these hedging instruments are expected to occur over the next 12 years. These agreements involve the exchange of the underlying principal amou...
52
annual_report