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4390
758
For property policies underwritten by our Rockhill specialty insurance unit, we maintain a property surplus share agreement for wind-only insurance products. This agreement provides for a proportional share of losses on all coastal wind policies written with limits greater than $5.0 million and up to $10.0 million of c...
156
10K
nl_ing_grp-AR_2012
699
2012 was the second year in which FM incorporated the mark-tomarket of ING’s own default risk in derivatives-linked issued notes and in ‘over the counter’ derivatives portfolios. It was also the second year of marking-to-market counterparty credit risk embedded within the derivatives portfolios, generally referred to a...
76
annual_report
5011
1,341
Contractholder deposits decreased 47.5% in 2014 compared to 2013, primarily due to no longer offering fixed annuity products beginning January 1, 2014, as well as lower deposits on interest-sensitive life insurance due to the LBL sale. Contractholder deposits increased 7.2% in 2013 compared to 2012, primarily due to in...
74
10K
fr_axa-AR_2000
2,281
See note 18 to the consolidated financial statements for the year ended December 31, 2000, included elsewhere in this annual report.
21
annual_report
AegonNV-AR_2005
859
Sensitivity analysis of net income and shareholders’ equity to various underwriting risks is shown in table 11.
17
annual_report
4561
1,029
Premiums revenue and administrative services only, or ASO, fees are estimated by multiplying the membership covered under the various contracts by the contractual rates. In addition, we adjust revenues for estimated changes in an employer’s enrollment and individuals that ultimately may fail to pay, and beginning Janua...
196
10K
HiscoxLtd-AR_2010
1,262
(the ‘functional currency’). The functional currency of all individual entities in the Group is deemed to be Sterling with the exception of the entities operating in France, Germany, the Netherlands and Belgium whose functional currency is Euros, those subsidiary entities operating from the US and Bermuda whose functio...
53
annual_report
PosteItalianeSpA-AR_2017
3,296
Cash flow from/(for) financing activities and shareholder transactions (503) (327) 65.0 (964) (286) 29.7
14
annual_report
3379
2,496
The following is a summary of the unaudited quarterly financial data for 2007 and 2006:
15
10K
2742
794
Net losses and LAE incurred-The net total loss ratio for 2005 was 61.5% compared to 78.7% for 2004. The catastrophe loss ratio of 2.8% in 2005 for the Commercial Lines segment was similar to the 3.0% ratio in 2004. This similarity resulted despite the large hurricanes in 2005 primarily because the Company has fewer com...
96
10K
Sampoplc-AR_2017
2,389
200Group's IFRS Financial Statements 200- Statement of Profit and Other Comprehensive Income, IFRS
13
annual_report
DirectLineInsuranceGroupPLC-AR_2013
2,861
Net (decrease) / increase in the year (61.8) 5.0 (56.8) Effect of foreign currency exchange adjustment 7.6 (0.8) 6.8 31. Life insurance liabilities and reinsurance assets £m 2012 £m
29
annual_report
4923
1,383
Net cash provided by operating activities totaled $776.0 million for the year ended December 31, 2014 compared to $95.8 million for the same period in 2013.
26
10K
PosteItalianeSpA-AR_2018
8,130
BancoPosta’s financial assets measured at fair value through other comprehensive income at 31 December 2018 had a duration of 4.80 (31 December 2017: 5.34). The sensitivity analysis is shown in the table.
32
annual_report
NatwestGroupPLC-AR_2015
4,560
The flow of new forbearance was £59.4 million in 2015 compared to £82.5 million in 2014. The value of mortgages subject to forbearance decreased by 5% in 2015 to £0.52 billion (equivalent to 5% of the total mortgage portfolio) as a result of improved market conditions and methodology changes.
49
annual_report
PosteItalianeSpA-AR_2017
52
The role of the Chairwoman is to lead and oversee the Board of Directors. She is the Company’s legal representative and exercises the powers provided for by law and the Company’s By-laws, and those assigned by the Board of Directors’ meeting of 28 April 2017, and subsequently modified at the meeting of 25 January 2018.
55
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2019
680
Based on premium volume, around 40% of our global reinsurance business is written in North America, with the USA (around 25%) ranking before Canada (around 15%). An additional 25% of our premium stems from Europe, with approximately 15% generated in the United Kingdom and Ireland and about 5% in Germany. Another signif...
107
annual_report
4595
752
In 2011, gross and net written premiums both increased by 4% over 2010. The increase in gross and net written premiums in 2011 was concentrated in Commercial Accounts and Industry-Focused Underwriting and, to a lesser extent, in Select Accounts. Gross and net written premiums were favorably impacted by positive audit p...
102
10K
2031
696
The aging of unrealized investment losses and fair value of the related investments at December 31, 2002 are summarized, by stated maturity, as follows:
24
10K
INGGroepNV-AR_2016
6,383
As part of the preparation of the annual accounts, the Executive Board is responsible for assessing the company’s ability to continue as a going concern. Based on the financial reporting framework mentioned, the Executive Board should prepare the annual accounts using the going concern basis of accounting unless the Ex...
97
annual_report
fr_axa-AR_2016
10,483
■ derivatives used by your Company are assessed pursuant to the rules contained in paragraph 2.12 of the notes to the fi nancial statements. We checked that the implementation of hedge accounting, if applicable, was documented appropriately. In all other cases, we verifi ed that adequate provisions were recorded for th...
53
annual_report
fr_axa-AR_2014
1,736
Net technical result increased by €22 million (+1%) to €1,924 million. Excluding Colombia and on a constant exchange rate basis, net technical result decreased by €42 million (-2%)
28
annual_report
4832
2,263
The tables below present additional information about assets and liabilities measured at fair value on a recurring basis and for which Level 3 inputs were utilized to determine fair value. The tables present a reconciliation of the beginning and ending balances for the year ended December 31, 2013 and 2012 for all fina...
194
10K
1358
425
The carrying value and estimated market value of our portfolio of fixed maturity securities at December 31, 1999, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment pe...
49
10K
5281
2,888
The net increase in the provision for claims of prior years in 2016 reflects (i) reserve strengthening at National Interstate (within the Property and transportation sub-segment), (ii) adverse reserve development at Neon and higher than anticipated severity in New York contractor claims (within the Specialty casualty s...
164
10K
AegonNV-AR_2008
2,496
and as a result is exposed to a variety of risks. A description of
14
annual_report
615
570
the public records. They contain material dating back a number of years and are kept current on a daily or other frequent basis by the addition of copies of documents filed of record which affect real property. The Company maintains title plants covering many of the areas in which it operates, although certain offices ...
82
10K
5919
718
Value of business acquired ("VOBA”) is an asset that reflects the estimated fair value of in-force contracts in an acquisition and represents the portion of the purchase price that is allocated to the value of the right to receive future cash flows from the business in-force at the acquisition date. VOBA is amortized o...
121
10K
NatixisSA-AR_2007
1,642
The Global Trade Services (GTS) subsidiary offers a range of products to meet the fi nancing and payment securitization needs generated by international contracts, particularly demand for “cross border” fi nancing. GTS’s international contracts are based on a variety of underlyings including raw materials, capital equi...
67
annual_report
PhoenixGroupHoldingsPLC-AR_2014
474
– capital generation in the period of £0.3 billion, including the positive impact of management actions delivered in the period of £0.2 billion, partly offset by the adverse impact of falling yields on the PLHL ICA surplus.
37
annual_report
DirectLineInsuranceGroupPLC-AR_2018
1,162
The Board Risk Committee regularly reviews significant risks and how they might affect the Group’s financial position; comparisons to agreed risk appetites; and what the Group does to manage risks outside its appetite.
33
annual_report
5835
1,392
At December 31, 2020 and 2019, we have not adjusted any pricing provided by independent pricing services (refer to 'Management Pricing Validation' below). In addition, total Level 3 fixed maturities and equity securities amounted to $15 million (2019: $8 million), less than 1% of total fixed maturities and equity secur...
67
10K
ch_zurich_insurance_group-AR_2004
2,623
Corporate Citizenship/ Group Corporate Responsibility & Compliance Responsibility Inquiries Zurich Financial Services, Switzerland
13
annual_report
490
743
In April 1996, pursuant to a settlement entered into between Gruntal and the Commission, and without admitting or denying the allegations therein, Gruntal consented to the entry of an administrative order in which the Commission found that Gruntal's practices with respect to Abandoned Property violated antifraud and br...
281
10K
AvivaPLC-AR_2020
2,420
Group adjusted operating profit excludes impairment of goodwill, associates and joint ventures; amortisation and impairment of intangibles acquired in business combinations; amortisation and impairment of acquired value of in-force business; and the profit or loss on disposal and remeasurement of subsidiaries, joint ve...
93
annual_report
SwissReAG-AR_2014
1,163
Regulatory risk Regulatory risk represents the potential impact of changes in the regulatory and supervisory regimes of the jurisdictions in which we operate. Swiss Re is strongly engaged in the regulatory debate, striving to mitigate potentially negative impacts while supporting reforms that could generate business op...
59
annual_report
gb_lloyds_banking_grp-AR_2009
7,561
Credit enhancement facilities are used to enhance the creditworthiness of fi nancial obligations and cover losses due to asset default. Two general types of credit enhancement are third-party loan guarantees (such as guaranteed mortgages) and self-enhancement through overcollateralisation (in the case of covered bonds)...
66
annual_report
AegonNV-AR_2015
5,892
or the Dutch Minister of Finance under the Dutch Intervention Act could have a material adverse effect on the performance by the failing institution, including Aegon, of its obligations (of payment or otherwise) under contracts of any form, including the expropriation, write-off, write-down or conversion of securities ...
58
annual_report
NatixisSA-AR_2020
11,807
Your Board of Directors proposes that you grant, for some of these resolutions, the option to cancel this preferential subscription right. Depending on market conditions, the nature of the investors concerned by the issue and the type of securities issued, it may be preferable, or even necessary, to waive the preferent...
161
annual_report
4951
724
The following analysis discusses our financial condition as of December 31, 2014, compared with December 31, 2013, and our consolidated results of operations for the years ended December 31, 2014, 2013 and 2012, and, where appropriate, factors that may affect our future financial performance. The discussion should be r...
76
10K
NatwestGroupPLC-AR_2013
385
Regrettably, last year brought further reminders that many of our customers and stakeholders do not trust us to do so. In response to persistent criticism of our performance in lending to SMEs the Board commissioned an independent review by Sir Andrew Large; we expect to adopt all of his recommendations.
50
annual_report
StandardLifeAberdeenPLC-AR_2017
56
The UK and Brexit It is a feature of successful businesses like ours that they are able to chart a course through uncertain times whilst successfully pursuing their ambitions. Brexit negotiations are, of course, reaching a critical stage. As a business headquartered in the UK with significant operations throughout Euro...
141
annual_report
4538
1,408
No dividends were paid by FNIC or American Vehicle in 2012, 2011 and 2010, and none are anticipated in 2013. Although we believe that amounts required to meet our financial and operating obligations will be available from sources other than dividends from our insurance subsidiaries, there can be no assurance in this re...
186
10K
782
184
Management's discussion and analysis reviews the consolidated financial condition of UNUM at December 31, 1997 and 1996, the consolidated results of operations for the past three years and, where appropriate, factors that may affect future financial performance. This discussion should be read in conjunction with the Co...
59
10K
ch_zurich_insurance_group-AR_2018
2,936
Fee income and other expenses (15) 2 (12) Interest and bonuses credited to policyholders (26) 1 (24) Changes in assumptions (6) – (6)
23
annual_report
NatwestGroupPLC-AR_2011
2,693
Banks 12,904 1,676 487 94 61 10 — — 13,452 1,780 Other financial institutions 10,138 1,550 8 2 219 43 — — 10,365 1,595 Total 23,042 3,226 495 96 280 53 — — 23,817 3,375
35
annual_report
2670
5,123
Pension Benefits - The Company sponsors a qualified non-contributory defined benefit pension plan (the "Qualified Pension Plan") covering substantially all employees. After meeting certain requirements under the Qualified Pension Plan, an employee acquires a vested right to future benefits. The benefits payable under t...
80
10K
HannoverRueckSE-AR_2008
225
Management report non-life reinsurance ations are therefore of major significance in relations between insurers and reinsurers.
16
annual_report
INGGroepNV-AR_2012
2,707
32 LEGAL PROCEEDINGS ING Group companies are involved in litigation and arbitration proceedings in the Netherlands and in a number of foreign jurisdictions, including the United States, involving claims by and against them which arise in the ordinary course of their businesses, including in connection with their activi...
154
annual_report
fr_axa-AR_2000
3,031
– Corporate income tax: The elimination in consolidation of the “capitalization reserve” (specific to French life insurance companies) will not give rise to the recording of a deferred tax asset and deferred interest credited to policyholders, except in cases where securities (eligible to the capitalization reserve) ar...
55
annual_report
2561
813
Since the Wind River acquisition date, no allowance for uncollectible reinsurance has been established since management believes its reinsurance receivables are recorded at their net realizable amounts. The need for an allowance for uncollectible reinsurance is based on the results of the Company’s regular review of th...
57
10K
PosteItalianeSpA-AR_2016
5,502
Amount due under 2015 Stability Law implementing EU Court sentence 6 – – –
14
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2007
598
On the investment side, we anticipate a result equivalent to around 4.5% of the average market values of the investments.
20
annual_report
2611
456
Income taxes were $251.0 million in 2004, compared to $316.7 million for 2003. Our effective tax rate was 27.9% in 2004, compared to 27.4% in 2003. The change in effective tax rate was primarily due to changes in the recognition of tax expense as a result of the purchase accounting for leveraged leases as required by F...
79
10K
5415
7,698
We ceded substantially all of the risk associated with our variable annuity business to Prudential Insurance Company of America (“Prudential”). Our reinsurance recoverables from Prudential totaled $1.35 billion and $1.41 billion as of December 31, 2017 and 2016, respectively. We also have reinsurance recoverables from ...
61
10K
fr_axa-AR_2011
8,127
OTC (over-the-counter) derivatives through a specifi c Groupwide policy. This policy includes a limit framework and an exposure monitoring process. Limits are set specifi cally for each authorized counterparty, based on an internal scoring system.
35
annual_report
3592
2,580
(1) Repayment of $3,358 million of our non-recourse funding obligations require regulatory approval.
13
10K
StandardLifeAberdeenPLC-AR_2012
202
£10bn net inflows in equities, where we are among the market leaders.
12
annual_report
gb_prudential-AR_2011
5,473
Excluding, for 2010, exceptional tax credit 1,618 (28) 1,590 816 (19) 797 1,565 (76) 1,489
15
annual_report
SwissReAG-AR_1999
86
A Group-wide programme, Triple 20, was launched in May 1999 in response to unsatisfactory non-life market conditions. It comprises three objectives: carefully review the reinsurance contracts generating the lowest value, reduce catastrophe capacity where prices fail to ref lect the level of risks assumed, and increase ...
141
annual_report
4462
775
Seasonality. Historically, real estate transactions have produced seasonal revenue levels for title insurers. The first calendar quarter is typically the weakest quarter in terms of revenue due to the generally low volume of home sales during January and February. The third calendar quarter has been typically the stron...
165
10K
3039
446
losses and corresponding loss rates for recent policy years is considered likely and could result in a material adjustment to the IBNR reserves. Based on historical experience, the Company believes that a 50 basis point change to the loss rates for the most recent policy years, positive or negative, is reasonably likel...
135
10K
StandardLifeAberdeenPLC-AR_2018
2,404
Discontinued operations: UK and European insurance On 23 February 2018, the Group announced the proposed sale of the UK and European insurance business. Refer to Note 1 for further details. As a consequence, the results of this business have been presented as discontinued operations. The UK and European insurance busin...
72
annual_report
3702
1,326
The following table summarizes our investment portfolio as of December 31, 2008:
12
10K
fr_axa-AR_2011
552
(a) Source: Swiss Re, Sigma report 2011 «World insurance in 2010».
11
annual_report
HelvetiaHoldingAG-AR_2019
726
Helvetia achieved significant growth in the Europe segment in 2019: the business volume rose to CHF 3,083.2 million and was thus 7.2 % above the previous year’s figure after currency adjustments. In the Group currency, the Swiss franc, business volume increased by 3.5 %. The achieved IFRS result after tax amounted to C...
66
annual_report
3568
2,241
For the year ended December 31, 2007, the pre-tax realized losses incurred with respect to the sale of fixed maturities and equity securities were $1.3 billion. The aggregate fair value of securities sold was $38.0 billion, which was approximately 94 percent of amortized cost. The average period of time that securities...
88
10K
TopdanmarkAS-AR_2020
1,253
Gross premiums earned comprise the line items “Gross premiums written”, “Change in the provisions for unearned premiums”, “Change in profit margin and risk margin” and “Bonuses and rebates”. Gross claims incurred comprise the line items “Gross claims paid”, “Change in the provisions for claims” and “Change in risk marg...
68
annual_report
AvivaPLC-AR_2007
1,269
Financial instruments Aviva Group companies use financial instruments to manage certain types of risks including those relating to credit, foreign currency exchange, cash flow, liquidity, interest rates, and equity and property prices. Details of the objectives and management of these instruments are contained in the B...
68
annual_report
5653
1,566
The following table summarizes changes to the issuances of RSUs under the 2017 Equity Plan for the periods indicated:
19
10K
NatixisSA-AR_2018
2,684
For the purpose of determining capital requirements for counterparty risk, the European Central Bank has partially authorized Natixis S.A. to use the internal EEPE (Effective Expected Positive Exposure) model to calculate exposure. For other Group entities, as well as the scope of operations for
44
annual_report
1609
466
The Company's results of operations are dependent, in part, on its ability to predict and control health care costs (through, among other things, appropriate benefit design, utilization review and case management programs, risk-transfer and risk-sharing and payment arrangements with providers) while providing members w...
190
10K
4311
1,109
The largest drivers of Montpelier Bermuda’s current year net losses incurred during 2010 included the following:
16
10K
2171
536
Our reserves are primarily undiscounted. We discounted reserves for selected claims that have fixed and determinable future payments, however, at rates ranging from 3.5% to 8.0% in 2003 and 2002. The discount rates in 2003 and 2002 are subject to change as market interest rates change. We use the same rates for General...
82
10K
5442
899
On March 11, 2015, Atlas acquired Anchor Holdings Group, Inc., a privately owned insurance holding company, and its wholly owned subsidiary, Global Liberty, along with its affiliated entities, Anchor Management, and Plainview (collectively, “Anchor”), from an unaffiliated third party. Anchor provides specialized commer...
120
10K
5617
1,661
Securities collateral received by the Company is held in separate custodial accounts and is not recorded on the balance sheet. Subject to certain constraints, the Company is permitted by contract to sell or re-pledge this collateral, but at December 31, 2018, none of the collateral had been sold or re-pledged. Securiti...
213
10K
AdmiralGroupPLC-AR_2011
586
Directors and their interests The present Directors of the Company are shown on pages 32 - 33 of this report, whilst Directors’ interests in the share capital of the Company are set out in the Remuneration report on pages 50 - 51.
42
annual_report
158
608
(i) Capital Lease Obligations: At December 31, 1995, ILFC's capital lease obligations of $1.09 billion provide 10 year, fully amortizing debt with a portion of this debt at fixed rates varying from 6.18 percent to 6.89 percent and the remainder at a floating LIBOR base rate. The debt matures through 2005. The flight eq...
101
10K
AvivaPLC-AR_2002
1,079
Share of result for the year after tax 19 7 26 Foreign exchange rate movements 8 10 18 Realised investment gains after tax – 2 2 Unrealised investment losses after tax (15) (17) (32) Dividends received – (4) (4)
39
annual_report
PosteItalianeSpA-AR_2018
1,160
* Source: ANIA ** Premiums refer to Italian and non-EU undertakings and EU undertakings
14
annual_report
NatixisSA-AR_2012
893
2012 Key event At Natixis, the Sustainable Development week was marked by four initiatives in 2012: R corporate social responsibility (CSR) presenting the concepts of sustainable development and CSR, their application to the banking fi eld, and practical applications for Natixis’ business lines and the company’s operat...
93
annual_report
gb_prudential-AR_2008
2,600
iii Sub-prime, Alt-A and CDO funds exposures Included within the debt securities of Jackson at 31 December 2008 are exposures to sub-prime and Alt-A mortgages and CDO funds as follows: Carrying Carrying value value
34
annual_report
SwissReAG-AR_2007
270
Swiss Re welcomes the introduction of Solvency II and encourages the use of risk-management techniques based on economic principles and internal models Swiss Re is working with regulators, analysts and clients to help implement appropriate capital models, achieve meaningful disclosure and promote the benefits of reinsu...
47
annual_report
gb_prudential-AR_2008
4,647
Share dealing services The Company’s Registrars, Equiniti, offer a postal dealing facility for buying and selling Prudential plc ordinary shares. Please see the Equiniti address above or telephone 0871 384 2248. They also offer a telephone and internet dealing service, Shareview, which provides a simple and convenient ...
74
annual_report
PhoenixGroupHoldingsPLC-AR_2012
2,348
Present value of future profits (PVFP) 1-5 £m 6-10 £m 11-15 £m 20+ £m
14
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2006
459
The ERGO Insurance Group is made up of the longestablished German companies Victoria, Hamburg-Mannheimer, DKV and D. A. S., as well as KarstadtQuelle Versicherungen. ERGO’s main companies outside Germany are the life insurer ERGO Previdenza in Italy, the health insurer DKV Seguros in Spain, the Polish property-casualty...
79
annual_report
fr_axa-AR_2015
6,502
Less unrealized gains and losses attributable to: Shadow accounting on policyholders’ participation and other obligations (12,255) (7,090) (2,982)
18
annual_report
4319
1,031
Various Nationally Recognized Statistical Rating Organizations (“rating organizations”) review the financial performance and condition of insurers, including us and our insurance subsidiaries, and publish their financial strength ratings as indicators of an insurer’s ability to meet policyholder and contract holder obl...
89
10K
AegonNV-AR_2018
1,341
External audit effectiveness The Audit Committee discussed and approved the external auditor's engagement letter for 2018 and contributed to the appointment process of the new lead partner(s). Aegon has well-established policies on audit effectiveness and independence of auditors that set out, among other things:  The...
97
annual_report
HannoverRueckSE-AR_2011
3,762
ness as well as aviation and marine risks. The volume of this securitisation, which was increased in the year under review, was equivalent to EUR 258.8 million (EUR 248.5 million) as at the balance sheet date. The transaction henceforth has an indefinite term and can be cancelled annually by the investors.
51
annual_report
1595
618
In June 1998, the Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards ("SFAS") No. 133, ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES. SFAS No. 133, as amended, establishes accounting and reporting standards for derivative instruments, including certain deriva...
141
10K
de_allianz-AR_2013
3,010
Audit-related fees KPMG charged the Allianz Group an aggregate of € 8.3 Mn (2012: € 7.9 Mn) for assurance and related services that are reasonably re lated to the performance of the audit or review of the financial statements and are not reported within audit fees. These services consisted primarily of advisory and con...
68
annual_report
gb_lloyds_banking_grp-AR_2019
1,034
During 2019 key change initiatives included continued digitisation of the Group and transforming ways of working. There has also been significant delivery of regulatory change in order to adapt to the changing regulatory landscape.
34
annual_report
4884
1,305
Includes a reclassification from common stock to additional paid-in capital to eliminate MLIIC’s and Exeter’s common stock and an adjustment to retained earnings to eliminate reinsurance transactions among the merging companies.
31
10K
NatixisSA-AR_2014
343
Growth in the personal protection insurance business remained strong in 2013, with premiums increasing by 15% to €627 million. Payment protection insurance accounted for 77% of personal protection insurance premiums in 2014.
32
annual_report
494
317
Consolidated Statements of Shareholders' Equity for the years ended December 31, 1996, 1995 and 1994........................... 34
16
10K
PosteItalianeSpA-AR_2018
1,699
Allow Company-owned spaces in "disadvantaged" areas to be used for social activities
12
annual_report
HiscoxLtd-AR_2020
1,766
In undertaking this analysis, no material uncertainty in relation to going concern has been identified, due to the Group’s strong capital and liquidity positions providing considerable resilience to these shocks, underpinned by the Group’s approach to risk management described in note 3.
42
annual_report
AvivaPLC-AR_2019
5,101
Combined operating ratio 97.5% 97.2% 1 Following the change in the definition of Group adjusted operating profit, COR now includes the amortisation and impairment of internally generated intangible assets to better reflect the operational nature of these assets. Comparative amounts have been restated resulting in an in...
63
annual_report
3406
515
Our GAAP loss and LAE ratio was 58.4% in 2007 compared to 57.4% in 2006. Loss results for the year have been mixed. Our core auto (personal and business) and other and product liability lines continue to perform well. On the property side, catastrophe losses for 2007 were lower than in 2006, but we experienced signific...
70
10K