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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 covered loss and all non coastal wind policies written with limits greater than $10.0 million and up to $16.0 million of covered loss. The reinsurers’ limit cannot exceed more than $5.0 million on any one risk. For property policies underwritten by our Rockhill specialty insurance unit, we also maintain a property per risk excess of loss reinsurance agreement for policies insuring certain other perils. Under this agreement, the Group is responsible for the first $1.0 million of each covered loss; the reinsurers are responsible for 100% of the excess over $1.0 million up to $15.0 million of covered loss. The rates for these reinsurance agreements are negotiated annually. | 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 as debt valuation adjustment (DVA) and credit valuation adjustment (CVA). ING’s credit spreads narrowed in 2012, which resulted in a material impact in the financial results through the DVA adjustment. | 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 increased fixed annuity deposits driven by the new equity-indexed annuity products and higher deposits on immediate annuities, as well as higher deposits on interest-sensitive life insurance. | 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 January 1, 2011, for estimated rebates to policyholders under the minimum benefit ratios required under the Health Insurance Reform Legislation. We estimate these policyholder rebates by projecting calendar year minimum benefit ratios for the individual, small group, and large group markets, as defined by the Health Insurance Reform Legislation using a methodology prescribed by the Department of Health and Human Services, separately by state and legal entity. Estimated calendar year rebates recognized ratably during the year are revised each period to reflect current experience. Enrollment changes not yet processed or not yet reported by an employer group or the government, also known as retroactive membership adjustments, are estimated based on available data and historical trends. We routinely monitor the collectibility of specific accounts, the aging of receivables, historical retroactivity trends, estimated rebates, as well as prevailing and anticipated economic conditions, and reflect any required adjustments in the current period’s revenue. | 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 functional currency is US Dollars, Hiscox | 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 commercial risks along the Louisiana coast and “tier-one counties” of Texas. Over the past two years, the Company intentionally reduced its Texas coastal wind-exposed commercial policy base by more than 40.0% and has minimal wind-exposed commercial risks in the Louisiana coastal parishes. | 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 significant share of around 25% stems from Asia and the MENA region. Australia and New Zealand account for slightly more than 5% of premium. We are also well positioned in Africa and Latin America, but due to the small size of these markets, their share of our global business is modest (less than 5% in total). | 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 premium adjustments in 2011, as compared with negative adjustments in 2010. Overall business retention rates remained strong in 2011 and were consistent with 2010. Both components of renewal premium changes-renewal rate changes and insured exposure growth-were positive in 2011 and increased over 2010. New business levels in 2011 declined modestly from 2010. | 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 Executive Board either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. The Executive Board should disclose events and circumstances that may cast significant doubt on the company’s ability to continue as a going concern in the annual accounts. | 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 the unrealized losses. | 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 financial assets and liabilities measured at fair value using significant unobservable inputs (Level 3) at December 31, 2013 and 2012, respectively. The tables do not include gains or losses that were reported in Level 3 in prior periods for assets that were transferred out of Level 3 prior to December 31, 2013 and 2012. Gains and losses for assets and liabilities classified within Level 3 in the table below may include changes in fair value that are attributable to both observable inputs (Levels 1 and 2) and unobservable inputs (Level 3). Further, it should be noted that the following tables do not take into consideration the effect of offsetting Level 1 and 2 financial instruments entered into by the Company that are either economically hedged by certain exposures to the Level 3 positions or that hedge the exposures in Level 3 positions. | 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 penalties. | 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 sub-segment), (iii) the $57 million special charge to increase loss reserves related to Neon’s exit of its UK and international medical malpractice and general liability lines of business, and (iv) the $36 million special charge to increase asbestos and environmental reserves. This adverse development was partially offset by (i) lower than expected losses in crop operations and lower than expected claim severity in the property and inland marine and trucking businesses (all within the Property and transportation sub-segment), (ii) lower than anticipated claim frequency and severity in workers’ compensation business, lower than expected claim severity in directors and officers liability insurance and lower than expected claim frequency and severity in excess liability business (all within the Specialty casualty | 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 utilize jointly owned and maintained plants. The Company capitalizes only the initial cost of title plants. The cost of maintaining such plants is charged to expense as incurred. | 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 over the period in which the related premiums written are earned, generally twelve months or less for property insurance business. VOBA amortization is reported within commissions and other underwriting expenses on our consolidated statements of operations. VOBA is reviewed to ensure that the unamortized portion does not exceed the expected recoverable amount as of October 1, each year, and more frequently if circumstances indicate impairment may have occurred. | 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 equipment and services, turnkey projects, and investments involving export credit agencies. The rapid growth in mandates obtained during the year refl ected | 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 securities (refer to Item 8, Note 6 to the Consolidated Financial Statements 'Fair Value Measurements' for further information). | 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 broker-dealer reporting and recordkeeping provisions of the federal securities laws, and aided and abetted violations of the federal securities laws by the Company. The Commission order censured Gruntal and required Gruntal to pay $5.5 million in disgorgement and prejudgment interest and a monetary fine of $4 million, and reimburse any customers determined by an independent consultant acceptable to the Commission to have been financially harmed by Gruntal's OTC execution and reporting practices. The disgorgement fund will be administered and disbursed by a fund administrator pursuant to a report and a plan which will be submitted to the Commission and require court approval. Under the terms of the settlement, the fund administrator is also required to verify Gruntal's representation to the Commission that it has repaid, recredited, escheated or segregated and scheduled for escheatment $6.7 million which Gruntal has identified as escheatable, or presently believes to be escheatable, or has identified as belonging to customers, contra-parties, vendors and other third parties. In June 1996, at the direction of the Commission and as approved by the order of the United States District Court for the Southern District of New York in SEC v. Gruntal & Co., Incorporated, et al., 96 Civ. 2514, James R. Doty, Esq., a partner in the law firm of Baker & Botts, LLP and a former General Counsel of the Commission, was engaged to serve as Fund Administrator (hereinafter, the "Fund Administrator"). | 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 ventures and associates. These items principally relate to mergers, acquisition and disposal activity which we view as strategic in nature, hence they are excluded from the operating profit APM as this is principally used to manage the performance of our operating segments when reporting to the Group’s chief operating decision maker. | 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 opportunities, facilitate convergence of regulatory standards or enhance the overall health of the sector. | 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). Liquidity enhancement makes funds available if required, for other reasons than asset default, eg to ensure timely repayment of maturing commercial paper. | 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 such as shares and debt obligations issued by the failing institution. | 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 preferential subscription right, in order to place the securities in the best possible conditions, particularly when the speed of transactions is an essential condition for their success, or when the issues are carried out on foreign financial markets. Such a cancelation may make it possible to obtain a larger pool of capital due to more favorable issue conditions. Lastly, the law sometimes provides for this cancelation: specifically, the vote of the delegation authorizing your Board of Directors to issue shares reserved for members of savings plans (27th resolution) would entail, by law, the express waiver by the shareholders of their preferential subscription rights in favor of the beneficiaries of these issues. | 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 read in conjunction with our audited consolidated financial statements and the related notes to the financial statements and the other financial information included elsewhere in this Form 10-K. | 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 Europe, we have confirmed that we will have arrangements in place to allow us to continue to offer services to our European customers. Working closely with European regulators, our intention is to use our hubs in Dublin and Luxembourg to do this. There is a lot to do in a short space of time and we are amongst those firms pressing governments in the UK and Europe to clarify how any transitional or implementation period will work and, frankly, to start taking the detailed decisions which we all need to move ahead. | 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 regard. Further, there can be no assurance that, if requested, the Florida OIR will allow any dividends to be paid by FNIC to us, the parent company, in the future. The maximum dividends permitted by state law are not necessarily indicative of an insurer’s actual ability to pay dividends or other distributions to a parent company, which also may be constrained by business and regulatory considerations, such as the impact of dividends on capital surplus, which could affect an insurer’s competitive position, the amount of premiums that can be written and the ability to pay future dividends. Further, state insurance laws and regulations require that the statutory capital surplus of an insurance company following any dividend or distribution by it be reasonable in relation to its outstanding liabilities and adequate for its financial needs. | 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 Consolidated Financial Statements, Notes to Consolidated Financial Statements and Selected Consolidated Financial Data. | 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 the plan are generally determined on the basis of an employee’s length of employment and salary during employment. The Company’s policy is to fund pension costs in accordance with the Employee Retirement Income Security Act of 1974. | 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 activities as insurers, lenders, employers, investors and taxpayers. In certain of such proceedings, very large or indeterminate amounts are sought, including punitive and other damages. While it is not feasible to predict or determine the ultimate outcome of all pending or threatened legal and regulatory proceedings, the Company’s management is of the opinion that neither it nor any of its subsidiaries is aware of any governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened of which the Company is aware) which may have or have in the recent past had a significant effect on the financial position or profitability of the Company. | 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) are likely to generate a realized loss upon sale. | 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 the collectibility of recorded reinsurance receivables due from its external reinsurers. | 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 FASB Interpretation No. 21, "Accounting for Leases in a Business Combination" and FASB Statement of Financial Accounting Standards No. 13, "Accounting for Leases". | 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 other reinsurers of $17 million and $18 million as of December 31, 2017 and 2016, respectively. | 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 overall productivity by reducing the administrative expense ratio by two percentage points. During the 1999/2000 renewal period, Swiss Re achieved the majority of its objectives in re-underwriting underperforming reinsurance contracts. Most clients were retained at better terms and conditions and comparatively little business was lost. This will contribute positively to the expected underwriting result for the year 2000. Swiss Re reduced its capacity allocation for natural catastrophes by approximately 10% in 1999. Swiss Re also took quick and decisive measures to improve productivity, contributing to an improvement in the ratio of administrative expenses to premiums. | 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 strongest in terms of revenue primarily due to a higher volume of home sales in the summer months and the fourth quarter is usually also strong due to commercial entities desiring to complete transactions by year-end. In the past five years, we have seen a divergence from these historical trends with orders being negatively effected by a reduction in the availability of financing, rising default levels, and falling home values causing an overall downward trend in home sales. In addition we have noted short term fluctuations through recent years in resale and refinance transactions as a result of changes in interest rates and the implementation and subsequent expiration of government programs designed to stimulate the real estate market. | 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 likely given the long duration nature of a title insurance policy. For example, if the expected ultimate losses for each of the last five policy years increased or decreased by 50 basis points, the resulting impact on the IBNR reserve would be an increase or decrease, as the case may be, of $121.2 million. The estimates made by management in determining the appropriate level of IBNR reserves could ultimately prove to be inaccurate and actual claims experience may vary from the expected claims experience. | 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 business provided a broad range of long-term savings and investment products to individual and corporate customers in the UK, Germany, Austria and Ireland. | 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 CHF 127.9 million (2018: CHF 117.3 million), which represents an increase of 9.0 %. | 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 sold at a loss during 2007 were trading continuously at a price below book value was approximately five months. See Risk Management - Investments herein for an additional discussion of investment risks associated with AIG’s investment portfolio. | 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 margin”. Gross operating expenses comprise “Administrative expenses” and “Acquisition costs”. Reinsurance result comprises reinsurer´s share of the abovementioned line items. | 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 Business review and an indication of the exposure of the Group companies to such risks is contained in note 55 to the accounts. | 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 with coverage for the health care benefits provided under their contracts. However, the Company's ability to contain such costs may be adversely affected by various factors, including, but not limited to: new technologies and health care practices, hospital costs, changes in demographics and trends, changes in laws and regulations, mandated benefits or practices, selection biases, increases in unit costs paid to providers, termination of provider arrangements, termination of, or disputes under risk-transfer or risk-sharing arrangements, major epidemics, catastrophes, inability to establish or maintain acceptable compensation agreements with providers, higher utilization of medical services, including, without limitation, higher out-of-network utilization under point-of-service plans, operational and regulatory issues and numerous other factors may affect the Company's ability to control such costs. The Company attempts to use its medical cost-containment capabilities, such as claim auditing systems, with a view to reducing the rate of growth in health care service expense. | 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 Generally Accepted Accounting Principles as we do for Statutory Accounting Practices in determining our liability. We also reduce the unpaid claim and claim settlement expenses for estimated amounts of subrogation. | 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 commercial insurance products, including commercial automobile insurance to niche markets such as taxi, black car and sedan service owners and operators primarily in the New York market. Atlas’ acquisition of Anchor expands our distribution channel for core commercial automobile lines and provides incremental licensure as well as important infrastructure in the large New York market. Global Liberty also wrote homeowners insurance in the northeast, which was put into runoff, subject to applicable regulatory requirements, prior to the transaction. | 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. Securities collateral pledged by the Company is reported in fixed maturity securities on the balance sheet. Subject to certain constraints, the counterparties are permitted by contract to sell or re-pledge this collateral. The amount of securities collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreements and cash collateral. At December 31, 2018 and 2017, the Company received excess securities collateral with an estimated fair value of $58 million and $337 million, respectively, for its OTC-bilateral derivatives, which are not included in the table above due to the foregoing limitation. At December 31, 2018 and 2017, the Company provided excess securities collateral with an estimated fair value of $364 million and $471 million, respectively, for its OTC-bilateral derivatives, $81 million and $426 million, respectively, for its OTC-cleared derivatives, and $14 million and $118 million, respectively, for its exchange-traded derivatives, which are not included in the table above due to the foregoing limitation. | 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 equipment associated with the obligations had a net book value of $1.22 billion. As of December 31, 1995, ILFC had the option to enter into an additional facility of $747 million for aircraft to be delivered in 1996 on the same terms as those for the existing facilities. | 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 operation; R a campaign on environmentally-friendly behavior to raise employees’ awareness of daily habits that can reduce their direct impact on the environment in seven areas: energy consumption , paper, electricity, heating and air-conditioning, water and travel; R a conference on renewable energy and another on biodiversity. | 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 reinsurance solutions | 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 way of selling Prudential plc shares. For telephone sales call 0871 384 2020 between 8.30am and 4.30pm, Monday to Friday, and for internet sales log on to | 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 insurer ERGO Hestia, and the Turkish ERGO Ísviçre Group (acquired in 2006). Segment responsibility within ERGO is centralised at holding level, while keeping the strong individual brand identities and sales forces intact. | 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 obligations. These ratings are important to maintaining public confidence in an insurer’s products, its ability to market its products and its competitive position. The following table summarizes the financial strength ratings of us and our significant member companies from the major independent rating organizations as of December 31, 2010: | 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 review and evaluation of the external auditor and the lead partner of the external audit team on at least an annual basis; Non-audit services performed by the external auditor; Rotations of the external auditor and lead partner; and Discussions about planning and staffing of the external audit activities. | 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 derivative instruments embedded in other contracts, and for hedging activities. It requires that the Company recognize all derivatives as either assets or liabilities in the statement of financial condition and measure those instruments at fair value. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. The Company will adopt SFAS No. 133 effective January 1, 2001. The adoption of SFAS No. 133 will not have a material impact on the Company's consolidated financial condition, results of operations or cash flows since the Company has no derivative instruments. | 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 consulting services related to accounting and financial reporting standards and financial due dili gence services. | 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 increase in the prior period underwriting costs of £(53) million and an increase in COR of 0.6%. | 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 significantly higher frequency of large fire losses within our personal and business lines during 2007. | 70 | 10K |
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