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RaiffeisenBankInternationalAG-AR_2020 | 908 | The key components of this policy include RBI’s diversity vision and mission statement and the daily implementation guidelines. In them, RBI presents its stance on this issue: “RBI believes that diversity adds value. Capitalizing on the opportunities of diversity provides long-term benefits to the company and its employees, as well as to the economy and society as a whole. RBI is continuing Raiffeisen’s 130-year success story as it embraces diversity. RBI actively and professionally harnesses the potential of diversity to give clients the best possible service as a strong partner and to position itself as an attractive employer.” | 98 | annual_report |
gb_prudential-AR_2016 | 1,856 | The pages that follow present a summary of the current Directors’ remuneration policy. The complete policy can be found on our website at: www.prudential.co.uk/investors/governance-and-policies/directors-remuneration-policy | 24 | annual_report |
4471 | 3,810 | The table below summarizes the actual weighted average allocation of the fair value of total plan assets by asset class at December 31 for the years indicated and the approved target range allocation by major asset class as of December 31, 2011 for the Invested Plans: | 46 | 10K |
NatwestGroupPLC-AR_2009 | 2,983 | The Remuneration Committee appreciates that this has been another difficult year for our staff and their families as we restructure the business. The reality is that it is the hard work of our staff over many years that has resulted in a core set of resilient and valuable businesses that will drive our recovery. The performance of the core business remains strong due to the incredible focus our employees have maintained on our customers. It is for that reason we continue to create an environment in which our staff can meet their ambitions as we work with them to restore and then transform the Group into one of the world’s most admired, valued and stable banks. | 116 | annual_report |
5571 | 2,229 | Effective January 1, 2016, the Company converted its Japan operations from a fiscal year cutoff of November 30th to calendar year-end reporting. The Company reported the cumulative effect of the change in accounting principle in net income for the year ended December 31, 2016. See Notes 1 and 2 of the Notes to the Consolidated Financial Statements. | 57 | 10K |
5929 | 187 | The number of Trust Interests outstanding at December 31, 2020 and 2019 was 135,958,492 and 140,694,733, respectively. The decrease of 4,736,241 in the number of Trust Interests is primarily attributable to Trust Interests redeemed, Trust Interests withdrawn and Trust Interests escheated. Net assets of the Trust consist solely of Trust Shares which will increase or decrease depending upon, among other things, the movement of Trust Shares into or out of the Trust as directed by the Beneficiaries. | 77 | 10K |
AssicurazioniGeneraliSpA-AR_2018 | 3,108 | nd ic at e th e fa ir va lu e of d er iv at iv es 257 We, Generali | 21 | annual_report |
ch_zurich_insurance_group-AR_2014 | 2,704 | Investment property – – 3,661 3,661 Total investments for unit-linked contracts 1 85,412 44,109 3,809 133,330 Financial liabilities at FV through profit or loss | 24 | annual_report |
StandardLifeAberdeenPLC-AR_2020 | 189 | Responsible investing We are continuing to build on our long-term commitment to responsible investing through a number of actions including: • Our bespoke climate change scenario research which allows us to take a view on the impact of climate change on future asset pricing and embed this into our thinking | 50 | annual_report |
5162 | 1,323 | We held no fixed maturity securities as of December 31, 2015 and 2014, for which a portion of an other-than-temporary impairment was recognized in accumulated other comprehensive income. | 28 | 10K |
2510 | 1,597 | In professional liability, written premium is up $18 for the year ended December 31, 2004 due to a decrease in the portion of risks ceded to outside reinsurers and earned pricing increases, partially offset by a decrease in renewal retention and new business growth. Earned pricing increases in professional liability were due entirely to written pricing increases in 2003 as prices have declined in 2004. | 65 | 10K |
4034 | 1,417 | The total purchase price of approximately $82.0 million was financed by a drawdown of $36.1 million from a credit facility provided by a London-based bank, a contribution of $11.7 million of the acquisition price from the Flowers Fund, by way of non-voting equity participation, and the remainder from available cash on hand. | 52 | 10K |
3198 | 1,151 | 2006 - Reserve strengthening raised the loss and loss expense ratio by 0.6 percentage points. | 15 | 10K |
BeazleyPLC-AR_2015 | 305 | We also conducted a detailed review of our data breach and cyber portfolio, which now represents our largest single line of business. Our portfolio is well diversified across industry segments and the short tail nature of data breach claims allows for rapid adjustment of terms and conditions in the event of changes in claim frequency. Nevertheless we continue to model aggregation scenarios carefully (including developing a cyber realistic disaster scenario (RDS)) and cover peak exposures with reinsurance. For further details on this please refer to page 128 in note 2 to the financial statements. | 94 | annual_report |
5892 | 459 | The Company continues to regularly assess the financial impact of the pandemic on its operating insurance companies’ overall insured portfolios. It remains challenging to comprehensively quantify, or account for the impact of the outbreak on most of the specific credits within our insured portfolios, due to, in part, challenges in determining whether and to what extent the underlying credits will be able or willing to continue to meet their debt | 70 | 10K |
5812 | 1,224 | We analyze our business based on three categories: “property”, “casualty”, and “other.” | 12 | 10K |
2252 | 745 | (b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and | 24 | 10K |
3300 | 651 | Ceded Reinsurance Commissions: Under the direct writing model, we earn ceding commissions on insurance risks ceded from FMIC to third party insurers under reinsurance treaties and earn ceded profit sharing commissions on ceded reinsurance. Under the fronting model, these ceding commissions were paid to the fronting insurer by the reinsurers who received the corresponding premiums. Both of these items are reported as an offset to our other operating expenses. The change in our business model resulted in an increase in our ceded reinsurance commissions from 2005 to 2007. | 88 | 10K |
de_allianz-AR_2013 | 6 | MAnAGeMent Discussion AnD AnAlYsis 64 Business Environment 66 Executive Summary of 2013 Results 71 Property-Casualty Insurance Operations 78 Life/Health Insurance Operations 82 Asset Management 85 Corporate and Other | 28 | annual_report |
fr_axa-AR_1999 | 169 | Sprout, a subsidiary of DLJ, is one of the premier players in financing internet start-ups in the United | 18 | annual_report |
AegonNV-AR_2007 | 1,628 | In its December meeting the Board decided that the increasing importance of risk management warranted a separate committee to strengthen supervision of the | 23 | annual_report |
5415 | 8,601 | Overview In formulating and implementing guidelines for investing funds, we seek to earn attractive risk-adjusted returns that enhance our ability to offer competitive rates and prices to customers while contributing to stable profits and long-term capital growth. Accordingly, our investment decisions and objectives are informed by the underlying risks and product profiles. Investment policies define the overall framework for managing market and other investment risks, including accountability and controls over risk management activities. Subsidiaries that conduct investment activities follow policies that have been approved by their respective boards of directors and which specify the investment limits and strategies that are appropriate given the liquidity, surplus, product profile and regulatory requirements of the subsidiary. Executive oversight of investment activities is conducted primarily through subsidiaries’ boards of directors and investment committees. | 129 | 10K |
4154 | 629 | In September 2006, the FASB updated the accounting standards to define fair value, establish a framework for measuring fair value and expand disclosures about fair value measurements. The Company adopted the standard effective January 1, 2008 and recorded a cumulative effect reduction to the opening balance of retained earnings of $30 million, net of DAC and DSIC amortization and income taxes. This reduction to retained earnings was related to adjusting the fair value of certain derivatives the Company uses to hedge its exposure to market risk related to certain variable annuity riders. Prior to January 1, 2008, the Company recorded these derivatives in accordance with accounting guidance for derivative contracts held for trading purposes and contracts involved in energy trading and risk management activities. The new standard nullifies the previous guidance and requires these derivatives to be marked to the price the Company would receive to sell the derivatives to a market participant (an exit price). The adoption of the standard also resulted in adjustments to the fair value of the Company’s embedded derivative liabilities associated with certain variable annuity riders. Since there is no market for these liabilities, the Company considered the assumptions participants in a hypothetical market would make to determine an exit price. As a result, the Company adjusted the valuation of these liabilities by updating certain policyholder assumptions, adding explicit margins to provide for profit, risk, and expenses, and adjusting the rate used to discount expected cash flows to reflect a current market estimate of the Company’s risk of nonperformance specific to these liabilities. These adjustments resulted in an adoption impact of a $4 million increase in earnings, net of DAC and DSIC amortization and income taxes, at January 1, 2008. The nonperformance risk component of the adjustment is specific to the risk of the Company not fulfilling these liabilities. As the Company’s estimate of this credit spread widens or tightens, the liability will decrease or increase. | 321 | 10K |
AdmiralGroupPLC-AR_2016 | 181 | For those of you with limited time, or for whom the suspense is too much, the short answer, in my view, is “no”. Read on for a longer answer. | 29 | annual_report |
RSAInsuranceGroupPLC-AR_2018 | 3,544 | The movement in the fair value measurements of level 3 fi nancial assets is shown in the table below: Available for sale investments Investments at FVTPL | 26 | annual_report |
de_allianz-AR_2017 | 716 | Target Target Min Max Target Target Min Max 6_Dr. Werner Zedelius left the Allianz SE Board of Management upon his retirement effective 31 December 2017. According to his contract he receives a transition payment of € 937.5 thou. The payment is calculated based on the latest base salary, which is paid for a further six months starting 1 July 2018, and a final lump-sum payment of 25 % of the target variable remuneration. The payable pension takes into account the monthly payments over the six -month period. The lump-sum payment will be paid in spring 2019. | 96 | annual_report |
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2010 | 937 | in the period under review, we switched from corporate bonds into equities, at the same time extending our hedging against falling share prices. at the reporting date, corporate bonds made up 9% of our fixed-interest portfolio. our portfolio of structured interest -bearing products, which are held chiefly by our reinsurance companies, expanded by €0.8bn to €6.1bn (5.3bn), mainly due to exchange-rate developments and a few additions. around 79% of these securities have an aaa rating. | 75 | annual_report |
3674 | 2,583 | In April, July and October 2008, Prudential Financial filed prospectus supplements to register under the shelf registration statement resales of the floating rate convertible senior notes that were issued in a private placement in December 2007 ($3.0 billion). These notes are convertible by the holders at any time after issuance into cash and shares of Prudential Financial’s Common Stock. The conversion price, $132.39 per share, is subject to adjustment upon certain corporate events. The conversion feature requires net settlement in shares; therefore, upon conversion, a holder would receive cash up to the par amount of the convertible notes surrendered for conversion and shares of Prudential Financial Common Stock only for the portion of the settlement amount in excess of the par amount, if any. The interest rate on these notes is a floating rate equal to 3-month LIBOR minus 1.63%, with a minimum interest rate of 0%, to be reset quarterly. These notes are redeemable by Prudential Financial, at par plus accrued interest, on or after June 16, 2009. Holders of the notes may also require Prudential Financial to repurchase the notes, at par plus accrued interest, on contractually specified dates, of which the first such date is June 15, 2009. Prior to such date, we may, from time to time, depending on economic considerations choose to repurchase portions of the outstanding notes from certain qualified institutional buyers. During the fourth quarter of 2008, we repurchased, in individually negotiated transactions, $853 million of these notes which were offered to the Company by certain holders. These notes were repurchased at a discount resulting in a pre-tax gain of $41 million that is recorded within “Asset management fees and other income.” As of December 31, 2008, $2.147 billion of these notes remain outstanding. At December 31, 2008, $1.8 billion of the proceeds were held in cash and short-term investments. The remainder was used to fund operating loans to affiliates. In the event the investors elect to put the notes to us on June 15, 2009, we intend to defease our obligation through a combination of existing cash and short-term investments and repayment of loans by our affiliates. See Note 12 to our Consolidated Financial Statements for additional information concerning these convertible senior notes. | 371 | 10K |
RSAInsuranceGroupPLC-AR_2017 | 1,131 | The Committee’s key activities during the year are described later in this report. The role of the Committee with regard to the oversight and challenge of Solvency II judgements and reporting is now fully embedded in the Committee’s annual process and reflected in the terms of reference, which were reviewed in October 2017. | 53 | annual_report |
4356 | 1,358 | Other operating expenses included in Corporate and Other decreased by $67 million, from $166 million in 2010 to $99 million in 2011. The decrease was primarily due to the charges related to the Company’s voluntary termination plan in 2010, as well as lower personnel costs in 2011. | 47 | 10K |
gb_prudential-AR_2017 | 1,124 | Suppliers — Outsourcing and Third Party Supply Policy, outlining our commitment to ensuring we have a robust, well managed outsourcing and third‑party supplier network. It covers how we manage and oversee these arrangements, through: due diligence/selection criteria, contractual requirements, the ongoing monitoring of such relationships and reporting and escalation. Additionally, our policy considers the requirements of the UK Modern Slavery Act, and the principles of the UN’s Universal Declaration of Human Rights. | 72 | annual_report |
SwissLifeHoldingAG-AR_2009 | 1,370 | When a substantial part of the assets is held in foreign currencies, these foreign assets are modelled explicitly (including the foreign currency exchange risk). | 24 | annual_report |
SwissReAG-AR_2013 | 1,991 | Balance sHeet as of 31 December assets the accompanying notes are an integral part of the Group financial statements. | 19 | annual_report |
4090 | 680 | Net income (loss) and per share information are summarized as follows (see Note 15 Earnings (Loss) Per Share to the consolidated financial statements): | 23 | 10K |
AegonNV-AR_2007 | 388 | Japan, this is leading to a fundamental shift away from simply saving for retirement to managing those savings for an increasingly costly old age. Moreover, in the next few years, millions of ‘baby boomers’ around the world will enter retirement, releasing billions of euros in accumulated pension assets and savings. In Japan, for example, an estimated JPY 50 trillion – approximately EUR 320 billion – | 65 | annual_report |
4811 | 1,635 | Metropolitan Life Insurance Company and its subsidiaries (collectively, “MLIC” or the “Company”) is a leading provider of insurance, annuities and employee benefit programs throughout the United States. The Company offers life insurance and annuities to individuals, as well as group insurance and retirement & savings products and services to corporations and other institutions. Metropolitan Life Insurance Company is a wholly-owned subsidiary of MetLife, Inc. | 64 | 10K |
de_allianz-AR_2012 | 1,603 | In the property-casualty sector, we anticipate slightly higher premium growth in 2013 and 2014 as the uptick in economic activity bolsters demand for insurance coverage. In partic ular, there are no signs that strong growth in emerging | 37 | annual_report |
LloydsBankingGroupPLC-AR_2004 | 347 | The composition, and value, of both the Scottish Widows plc Non-Participating Fund and the General Insurance portfolio are reported to Group Risk on a monthly basis and a VaR is calculated which is presented to the group asset and liability committee. The risk of loss measured by the VaR model is the potential loss in earnings over a given time horizon. The VaR methodology used is the same in all respects to that used for the traded risk in banking activities, except that in the case of equity risk, the model maps the portfolio composition onto a series of appropriate indices by region and sector. In addition the risks are calculated based on a 99 per cent confidence level and a ten day holding period. The figures quoted below are the sum of the two portfolios with no allowance for diversification between portfolios or asset classes and represents the potential loss in earnings. | 153 | annual_report |
LloydsBankingGroupPLC-AR_2011 | 4,801 | Series 3 (US$600 million) a, b 235 232 13.625% Perpetual Subordinated Bonds (£75 million) a 16 20 11.75% Perpetual Subordinated Bonds (£100 million) 102 102 | 25 | annual_report |
5186 | 1,288 | Securities acquired with evidence of credit quality deterioration since origination and for which it is probable at the acquisition date that the Company will be unable to collect all contractually required payments are classified as purchased credit impaired securities. For each security, the excess of the cash flows expected to be collected as of the acquisition date over its acquisition date fair value is referred to as the accretable yield and is recognized as net investment income on an effective yield basis. At the date of acquisition, the timing and amount of the cash flows expected to be collected was determined based on a best estimate using key assumptions, such as interest rates, default rates and prepayment speeds. If subsequently, based on current information and events, it is probable that there is a significant increase in cash flows previously expected to be collected or if actual cash flows are significantly greater than cash flows previously expected to be collected, the accretable yield is adjusted prospectively. The excess of the contractually required payments (including interest) as of the acquisition date over the cash flows expected to be collected as of the acquisition date is referred to as the nonaccretable difference, and this amount is not expected to be realized as net investment income. Decreases in cash flows expected to be collected can result in OTTI. | 224 | 10K |
5148 | 2,068 | Other operating expenses and income, net, consists of net investment income, finance expenses, taxes, income (loss) from operating affiliates and (income) loss attributable to AlphaCat investors. | 26 | 10K |
4834 | 1,752 | Corporate obligation investments are evaluated for OTTI using credit analysis techniques. The Company’s analysis includes a detailed review of a number of quantitative and qualitative factors impacting the value of an individual security. These factors include the interest rate of the security (fixed or floating), the security’s current market spread, any collateral supporting the security, the security’s position in the issuer’s capital structure, and credit rating upgrades or downgrades. Additionally, these factors include an assessment of various issuer-related credit metrics including market capitalization, earnings, cash flow, capitalization, interest coverage, leverage, liquidity, management and a third-party quantitative default probability model. The Company’s analysis is augmented by comparing market prices for similar securities of other issuers in the same sector, as well as any recent corporate or government actions that may impact the ultimate return of principal. If the Company determines that, after considering these factors, a principal default is projected, a recovery analysis is performed using the above data. If the Company’s estimated recovery value for the security is less than its amortized cost, the difference is recorded as an OTTI loss. | 181 | 10K |
4325 | 1,509 | Our primary reinsurance agreement is negotiated annually at October 1. There was no significant change in the cost or structure of the agreements renewed on October 1, 2010. | 28 | 10K |
gb_lloyds_banking_grp-AR_2009 | 6,393 | Loans and receivables The Group provides loans and advances to commercial, corporate and personal customers at both fi xed and variable rates. The carrying value of the variable rate loans and those relating to lease fi nancing is assumed to be their fair value. For fi xed rate lending, several different techniques are used to estimate fair value, as considered appropriate. For commercial and personal customers, fair value is principally estimated by discounting anticipated cash fl ows (including interest at contractual rates) at market rates for similar loans offered by the Group and other fi nancial institutions. The fair value for corporate loans is estimated by discounting anticipated cash fl ows at a rate which refl ects the effects of interest rate changes, adjusted for changes in credit risk. Certain loans secured on residential properties are made at a fi xed rate for a limited period, typically two to fi ve years, after which the loans revert to the relevant variable rate. The fair value of such loans is estimated by reference to the market rates for similar loans of maturity equal to the remaining fi xed interest rate period. The fair values of asset-backed securities and secondary loans, which were previously within assets held for trading and were reclassifi ed to loans and receivables (see page 222), are determined predominantly from lead manager quotes and, where these are not available, by alternative techniques including reference to credit spreads on similar assets with the same obligor, market standard consensus pricing services, broker quotes and other research data. | 257 | annual_report |
2846 | 844 | Net written premiums for the years ended December 31, 2005, 2004 and 2003 were $25.7 million, $24.4 million and $24.4 million, respectively. This is consistent with the trend in gross written premiums, as we do not cede a significant amount of our mortgage guaranty business. | 45 | 10K |
HannoverRueckSE-AR_2015 | 1,028 | Not only that, Hannover Re has set up a stand-alone organisational unit for “Business Opportunity Management” within the Chief Executive Officer’s scope of responsibility. This service unit deals systematically with ideas and business opportunities and it concentrates its activities on generating additional premium volume with profit potential. To this end, promising business opportunities are translated into business models with the support of project teams and tested on the market by the partner b2b Protect. New solutions that meet with a positive response are subsequently launched on the market in cooperation with primary insurance partners. The goal is to generate new business and thereby sustainably promote Hannover Re’s profitable growth. Several of the more than 100 ideas contributed by the global network since the unit was set up have been realised as innovative insurance solutions and successfully handed over to line responsibility; they are now being sold on the market by primary insurers. The following solutions may be cited by way of example: Weather insurance The goal is to offer a heavily weather-dependent clientele industry-specific solutions to protect against fluctuations in the weather. Particularly strong interest in this product is currently being shown by companies operating in areas such as construction, energy trading, event management, amusement parks and tourism. | 208 | annual_report |
673 | 220 | The Company expects to have very small cash outlays for income taxes, specifically alternative minimum tax, for the next two to three years. Until the net operating losses caused by the Northridge Earthquake are fully utilized, the Company expects that cash outlays for income taxes will be less than income tax expense recorded in accordance with generally accepted accounting principles. The net operating loss carryforwards will expire in the year 2009. | 71 | 10K |
5523 | 525 | The $9,065 increase and $123,707 decrease in investment real estate for the years ended December 31, 2018 and 2017, respectively, are summarized as follows: | 24 | 10K |
5715 | 950 | The total fair value of the performance shares that vested in 2019, 2018, and 2017 was $1,823,000, $2,662,000, and $3,597,000, respectively. | 21 | 10K |
5713 | 1,821 | Core Earnings Margin- The Hartford uses the non-GAAP measure core earnings margin to evaluate, and believes it is an important measure of, the Group Benefits segment's operating performance. Core earnings margin is calculated by dividing core earnings by revenues, excluding buyouts and realized gains (losses). Net income margin is the most directly comparable U.S. GAAP measure. The Company believes that core earnings margin provides investors with a valuable measure of the performance of Group Benefits because it reveals trends in the business that may be obscured by the effect of buyouts and realized gains (losses) as well as other items excluded in the calculation of core earnings. Core earnings margin should not be considered as a substitute for net income margin and does not reflect the overall profitability of Group Benefits. Therefore, the Company believes it is important for investors to evaluate both core earnings margin and net income margin when reviewing performance. A reconciliation of net income to core earnings margin is set forth in the Group Benefits Operating Summary. | 171 | 10K |
NatwestGroupPLC-AR_2007 | 4,218 | Reinsurance is used to protect against the impact of major catastrophic events or unforeseen volumes of, or adverse trends in, large individual claims and to transfer risk that is outside the Group’s current risk appetite. | 35 | annual_report |
3557 | 2,777 | Benefits and settlement expenses for the year ended December 31, 2006 were 80.7% higher than for the year ended December 31, 2005 primarily due to the current period acquisition, which contributed $228.7 million to expenses in 2006. The Chase Insurance Group acquisition resulted in an additional $32.3 million of VOBA amortization for 2006, driving the annual increase of 92.2%. Other operating expenses decreased 11.5% for the year ended December 31, 2006 compared to December 31, 2005, as a result of the runoff of the closed blocks of business and seasonality within the Chase Insurance Group block of business, partially offset by conversion costs incurred related to the 2006 acquisition. | 109 | 10K |
NatixisSA-AR_2014 | 8,370 | All the plants have already been built and connected to the network, and will generate a total of 596 GWh of electricity per year, i.e. the equivalent of the annual energy demand of 187,000 Italian households. | 36 | annual_report |
4402 | 1,016 | requirements. Retirement benefits under our pension plan are based on the number of years of service and level of compensation. Our policy to fund the pension plan on a current basis to not less than the minimum amounts required by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended, is to assure that plan assets will be adequate to provide retirement benefits. We estimate that we will contribute approximately $7,000,000 to the pension plan in 2012. | 86 | 10K |
StorebrandASA-AR_2008 | 1,794 | Cash and cash equivalent assets at start of the period 25,559.7 13,216.0 | 12 | annual_report |
2 | 284 | Operations Statement Data: 1993 1992 1991 1990 1989 __________________________ ____ ____ ____ ____ ____ Net investment income $353.3 $ 3.6 $ 1.9 $ 0.4 $ 1.2 Total revenues 387.2 3.6 1.9 0.4 1.2 Earnings (loss) from continuing operations 53.0 (9.0) (4.7) (6.0) (6.9) Loss from discontinued operations (9.6) (16.8) (47.8) (43.3) (89.9) Extraordinary item (3.4) - - - - Change in accounting principle - (3.1) - - - ______ _____ _____ _____ _____ Net earnings (loss) $ 40.0 ($28.9) ($52.5) ($49.3) ($96.8) ______ _____ _____ _____ _____ | 87 | 10K |
4832 | 1,926 | The unpaid loss and loss expenses were $20.5 billion on our Consolidated Balance Sheet at December 31, 2013. The difference from the amount included above relates to the discount on payments due in the future for certain workers compensation lines and certain U.K. motor liability claims. The timing and amounts of actual claims payments related to these P&C reserves vary based on many factors including large individual losses, changes in the legal environment, as well as general market conditions. The ultimate amount of the claims payments could differ materially from our estimated amounts. For information regarding the estimates for unpaid loss and loss expenses as well as factors affecting potential payment patterns of reserves for actual and potential claims related to our different lines of business, see “Critical Accounting Policies and Estimates” above. Certain lines of business written by us, such as excess casualty, have loss experience characterized as low frequency and high severity. This may result in significant variability in loss payment patterns and, therefore, may impact the related asset/liability investment management process. In order to be in a position, if necessary, to make these payments, our liquidity requirements are supported by having revolving lines of credit facilities available to us and significant reinsurance programs, in addition to our general high grade fixed income investment portfolio. | 217 | 10K |
PhoenixGroupHoldingsPLC-AR_2011 | 2,301 | Participating non-supported £m Unit-linked £m Total £m 97% of rated securities were investment grade at 31 December 2011 (96%: 30 June 2011). The percentage of rated securities that were investment grade in relation to the shareholder and policyholder exposures were 95% and 99% respectively (94% and 99% respectively: 30 June 2011). | 51 | annual_report |
StandardLifeAberdeenPLC-AR_2020 | 2,509 | A full list of the Company’s subsidiaries is provided in Note 48. | 12 | annual_report |
fr_axa-AR_2013 | 7,994 | Management Committee; (2) assessing the status of Group transversal projects; and (3) exchanging ideas and information on key Group strategic orientations. | 21 | annual_report |
4679 | 1,757 | For all periods disclosed above, fixed maturity securities transferred into Level 3 from Level 2 are the result of the Company being unable to obtain observable assumptions for these investments in the market. Fixed maturity securities transferred out of Level 3 into Level 2 are the result of the Company being able to obtain observable assumptions for these investments in the market. There were no transfers between Level 1 and Level 2 for 2012 and 2011. | 76 | 10K |
5297 | 663 | Regulatory change will demand the attention of the industry. The Department of Labor ("DOL") fiduciary rule continues to be an intensely debated issue and the ultimate outcome, pending White House Administration deliberations and legal actions, remains uncertain. The DOL fiduciary rule imposes onerous and, what many consider to be, unworkable conditions which will serve to limit interactions of insurers and their contracted agents with existing or prospective customers who might otherwise be interested in life insurance and annuity products as solutions for their financial needs. Recently, the DOL proposed a 60-day delay in the initial compliance date in order to take additional time to examine the requirements of the rule before its required implementation. This delay was in response to a memorandum from President Trump to review and possibly rescind the rule. | 132 | 10K |
HannoverRueckSE-AR_2011 | 3,863 | Debt securities issued by semi-governmental entities 3,453,861 90,835 10,100 50,883 3,585,479 | 11 | annual_report |
4742 | 1,575 | The Company also has certain prescribed and permitted practices which are applied at the subsidiary level and do not have a direct impact on the statutory surplus of the Company. These practices include permission to follow the actuarial guidelines of the domiciliary state of the ceding insurer for certain captive reinsurers, accounting for the face amount of all issued and outstanding letters of credit, and a note issued by an affiliate as an asset in the statutory financial statements of certain wholly owned subsidiaries that are considered “Special Purpose Financial Captives”. | 91 | 10K |
INGGroepNV-AR_2007 | 2,228 | In March 2008 shares will be issued in relation to the vesting of share plans. The actual number of shares to be issued is dependent on ING’s TSR ranking. Reference is made to the remuneration report on page 76 up to and including page 86 in the annual report. | 49 | annual_report |
2363 | 3,608 | To a large extent, the success of our businesses is dependent on our ability to attract and retain key employees, in particular our senior officers, key management, sales, information systems, underwriting, claims, managed care, HR outsourcing and corporate personnel. Competition to attract and retain key personnel is intense. While we have employment agreements with a number of key managers, we generally do not have employment contracts with our employees and cannot ensure that we will be able to attract and retain key personnel. | 83 | 10K |
gb_prudential-AR_2013 | 5,785 | Date of grant Exercise price £ Beginning End Beginning of period Granted Exercised Cancelled Forfeited Lapsed End of period | 19 | annual_report |
HannoverRueckSE-AR_2017 | 3,400 | The personnel expense for share awards in the case of members of the Executive Board is spread on an accrual basis across the relevant term of the share awards or the shorter term of the service contracts; in the case of senior executives the personnel expense is spread across the relevant term of the share awards. The allocation of the financial year recognised in the expenditures on personnel totalled altogether EUR 12.1 million (EUR 10.6 million). This consists of the expense for share awards of the 2017 financial year as well as the dividend claim and the additionally earned portion of the share awards granted in earlier financial years. The value of the share awards finally granted is also influenced by movements in the share price. The sum total of the dividends included in the expenditures on personnel for earlier financial years amounted to EUR 2.0 million (EUR 2.0 million). The distributed dividend is recognised, with no allowance made for expected dividend payments. Dividend claims are recognised in the discounted amounts. | 171 | annual_report |
ch_zurich_insurance_group-AR_2009 | 2,743 | In Switzerland, an investment management company provides asset management services to pension schemes written in foundations and other pension funds. The present value of the net asset management fees, after tax, is included in the embedded value and the new business value. | 42 | annual_report |
3198 | 1,087 | 2006 - Reserve strengthening raised the loss and loss expense ratio by 21.1 percentage points due to case reserves additions for director and officer liability claims. | 26 | 10K |
fr_axa-AR_2009 | 463 | AXA’s Life & Savings products may be distinguished between: ■ Participating contracts, in which the policyholders participate in the excess assets over liabilities (the surplus) of – and therefore in the investment return and/or in part of the operating profi ts earned by – the insurance company issuing the contract by way of the payment of an interest or bonus payment; ■ Contracts with the financial risk borne by the policyholders | 71 | annual_report |
StandardLifeAberdeenPLC-AR_2009 | 670 | We are strongly committed to delivering exceptional customer service and always put our customers at the heart of our thinking. In 2009, we established a European customer insight team to help us respond to customer needs and continue growing our already high level of customer satisfaction. All customer insight activities are designed to build our understanding of our existing and future customers. This will help to establish better relationships with customers and develop customer-centric market-leading propositions, as well as keeping retention rates high. | 83 | annual_report |
1741 | 382 | Net investment income for 2001 was lower than 2000 due to a reduction in investments held as a result of a decrease in premiums written and the payment of claims and operating expenses as well as a reduction in investment yields resulting from lower interest rates and the Company's decision to shorten the duration of its investment portfolio. The reduction in 2000 was primarily as a result of lower invested assets due to claim payments and a decrease in premiums written. During 2001, the Company had realized capital gains of $1.9 million primarily due to the sale of fixed maturities to shorten the duration of the portfolio. During 2000, the Company had realized capital losses of $0.2 million principally due to the sale of fixed maturities to satisfy operating cash needs. | 131 | 10K |
AvivaPLC-AR_2018 | 128 | 2 This is an Alternative Performance Measure (APM) which provides useful information to supplement an understanding of our financial performance. Further information on APMs, including a reconciliation to the financial statements (where possible), can be found in the ‘Other Information’ section of the Annual report and accounts. | 47 | annual_report |
5643 | 1,580 | Credit default swaps are used as economic hedges against credit risk but do not qualify for hedge accounting. A credit default swap is an agreement in which we agree with another party to pay, at specified intervals, a fixed-rate fee in exchange for insurance against a credit event on a specific investment. If a defined credit event occurs, our counterparty may either pay us a net cash settlement, or we may surrender the specific investment to them in exchange for cash equal to the full notional amount of the swap. Credit events typically include events such as bankruptcy, failure to pay, or certain types of debt restructuring. | 107 | 10K |
AdmiralGroupPLC-AR_2018 | 2,257 | Total gross release (UK Motor Insurance) 148.1 197.7 135.7 214.0 270.5 | 11 | annual_report |
HelvetiaHoldingAG-AR_2014 | 3,290 | – Counterparty risk from transactions with derivative financial instruments: refer to section 16.6.2 for the amount of gross counterparty risk exposure in conjunction with the derivative financial instruments. A small part of the derivative instruments is traded on a stock exchange, so there are no counterparty risks. The scope of the hedging with cash collateral is CHF 34.2 million. The existing netting agreements are also relevant. Refer to the table below for detailed information about derivative financial instruments. | 78 | annual_report |
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2001 | 1,900 | Dr. phil. Ron Sommer T-Mobile International AG* (Chairman) – T-Online International AG* (Chairman) | 13 | annual_report |
4520 | 672 | The following table presents for each of the fair value levels, the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2012 and 2011 (amounts in thousands): | 36 | 10K |
2256 | 1,202 | Net Income. Net income for the year ended December 31, 2003 decreased $1.0 million, or 14.9%, to $5.8 million or $0.66 per diluted common share, from $6.8 million, or $0.72 per diluted common share, for the year ended December 31, 2002. The primary reasons for the decreases in net income and diluted earnings per share were: (i) the decrease in 2003 revenues from the Healthcare Recovery Services segment described above, (ii) the charges of approximately $918,000, net of tax, related to the exploration of strategic alternatives in 2003, and (iii) the decrease in 2003 depreciation expense as described under “Depreciation and Amortization” above. | 103 | 10K |
4836 | 904 | Premiums earned assumed by the reinsurance subsidiary from Employers Mutual, including reinstatement premiums, amounted to $129,745,885, $107,111,745 and $100,028,061 in 2013, 2012 and 2011, respectively. The reinsurance subsidiary ceded 9.0 percent (10.0 percent in 2012 and 2011) of its total assumed reinsurance premiums written to Employers Mutual as payment for the excess of loss protection, which totaled $12,760,996, $11,916,226 and $10,721,484 in 2013, 2012 and 2011, respectively. Losses and settlement expenses assumed by the reinsurance subsidiary from Employers Mutual amounted to $66,125,725, $74,832,154 and $103,086,914 in 2013, 2012 and 2011, respectively. Losses and settlement expenses ceded to Employers Mutual under the excess of loss agreement totaled $822,553, $9,926,034 and $15,877,627 in 2013, 2012 and 2011, respectively. | 116 | 10K |
AvivaPLC-AR_2014 | 2,809 | Long-term business Value in use is calculated as an actuarially determined appraisal value, based on the embedded value of the business calculated in accordance with market consistent embedded value (‘MCEV’) principles, together with the present value of expected profits from future new business. If the embedded value of the business tested is sufficient to demonstrate goodwill recoverability on its own, then it is not necessary to estimate the present value of expected profits from future new business. If required, the present value of expected profits arising from future new business written over a given period is calculated on an MCEV basis, using profit projections based on the most recent three year business plans approved by management. These plans reflect management’s best estimate of future profits based on both historical experience and expected growth rates for the relevant cash generating unit. The underlying assumptions of these projections include market share, customer numbers, mortality, morbidity and persistency. | 155 | annual_report |
HiscoxLtd-AR_2010 | 1,859 | Exchange gains/(losses) classified as a separate component of equity 11,729 (69,589) | 11 | annual_report |
PhoenixGroupHoldingsPLC-AR_2012 | 1,370 | − Annual Improvements to IFRS 2009-2011 cycle (2013). This makes a number of minor improvements to existing standards and interpretations. | 20 | annual_report |
AvivaPLC-AR_2010 | 456 | Other Europe Business overview and strategy Aviva’s other European businesses are in the Czech Republic, Hungary, Slovakia and Romania. In the Czech Republic we are the 13th largest life insurer, with a 1.4% market share as at 31 December 2010 according to the Czech Insurance Association. We have more than 50,000 customers and 115 staff as at 31 December 2010. In Hungary, we are the seventh largest life insurance business, measured by gross written premiums as at 30 September 2010. Aviva Romania is the fifth largest voluntary pensions provider as at 31 December 2010 as measured by fund value according to the Private Pension Regulator (CSSPP) and the seventh largest life insurance provider as at 30 September 2010 according to data gathered by Signal Iduna in Romania. We are currently continuing to manage these markets for profitable growth. | 138 | annual_report |
3058 | 493 | The property and casualty insurance industry is cyclical. Historically, the industry has been characterized by periods of price competition and excess capacity (soft market) followed by periods of high premium rates and shortages of underwriting capacity (hard market). Since 2004, we believe that the commercial transportation market has been in the part of the cycle that can best be described as softening as compared to the peak of the hard market in 2002 and 2003. The cyclical nature of the industry impacts our business operations. Our business may be affected by the risks impacting the property and casualty insurance industry related to severe weather conditions, explosions, terrorist attacks and riots. For passenger transportation, distressed operators (whether distressed due to being insured by other insurance companies that have raised rates or exited the market, or due to having less than desirable risk characteristics) continue to be heavily marketed to us by brokers causing an increase in our new business declination rates. In addition, insurance rates for renewing policies for all transportation business remains relatively flat when compared to 2005 and lower than the increases attained from mid-2001 through 2004. Although the current condition of the market can be characterized as softening, the extent of the price competition we are currently experiencing is neither as significant nor as severe as we have previously experienced in other softening markets (e.g. 1999-2000). | 228 | 10K |
HelvetiaHoldingAG-AR_2019 | 1,228 | Income investments with market risk for the policyholder 145.7 – 78.6 95.3 – 31.0 13.5 – 6.4 113.5 – 54.5 – – 368.0 – 170.5 | 25 | annual_report |
2215 | 536 | The NEDOI Director (“Director”) currently has the authority to increase regulatory control of AIC by requesting an appropriate court to enter an Order of Rehabilitation or an Order of Liquidation, with or without a change in the financial condition of AIC. The Company believes that an Order of Rehabilitation would have a significant negative impact on the Company and that an Order of Liquidation would have a material adverse effect on the Company. If the NEDOI seeks and obtains an Order of Rehabilitation or Order of Liquidation, the Company will decide to take the course of action that is in the best interests of the Company based on all relevant factors. The Company believes that its possible options will range from no action to filing bankruptcy depending on what type of order, if any, is sought and obtained by the NEDOI, what actions the NEDOI takes pursuant to any such order and all other factors relevant to taking the actions that are in the best interests of the Company. The filing of a bankruptcy proceeding would constitute an event of default under the trust agreement for the Trust Preferred Securities. | 190 | 10K |
AvivaPLC-AR_2018 | 3,999 | c/o CACEIS BANK Lux, 5, Allée Scheffer, L-2520 PI EMU EQUITY-XEURND (PIEMUXE) OEIC 22 Tikehau Italy Retail Fund Ii Scsp-Area12 FCP 31 28-32, Place de la Gare, L-1616 Luxembourg Ver Capital Credit Partners IV SICAV – SIF SICAV 22 Ver Capital Credit VI – Sub Fund A SICAV 43 Ver Capital Credit VI – Sub Fund B SICAV 43 Jupiter Asset Management Ltd., 70 Victoria Street, The Zig Zag Building | 70 | annual_report |
ASRNederlandNV-AR_2014 | 2,057 | The remuneration can be broken down as follows: Amounts for 2014 in Euros x 1,000 | 15 | annual_report |
764 | 183 | 3. Statements of Income and Retained Earnings for the years ended December 31, 1997, 1996 and 1995 ............................... 34 | 19 | 10K |
StandardLifeAberdeenPLC-AR_2019 | 2,615 | Approximately two thirds of the total AUM (the transferring AUM) will be transferred to third party managers appointed by LBG through a series of planned tranches over nine months from 24 July 2019. During this period, the Group will continue to be remunerated for its services in relation to the transferring AUM. | 53 | annual_report |
5189 | 724 | At December 31, 2016, fixed maturities and cash equivalents with a fair value and amortized cost of $6.4 million were on deposit with various insurance departments as a requirement of doing business in those states. Cash equivalents with a fair value and amortized cost of $17.0 million were on deposit with another insurance company as collateral for an assumed reinsurance contract. | 61 | 10K |
TrygAS-AR_2011 | 927 | The process of selecting new Supervisory Board members is formal, comprehensive and transparent for the Board members. | 17 | annual_report |
5903 | 2,339 | The U.S. Tax Cuts and Jobs Act of 2017 (“Tax Act of 2017”) included two new tax provisions that could impact the Company’s effective tax rate and cash tax payments. The Base Erosion and Anti-Abuse Tax (“BEAT”) taxes modified taxable income, starting at a rate of 10% in 2019 and increasing to 12.5% in 2026, and is due if the calculated BEAT amount that is determined without the benefit of foreign and certain tax credits is greater than the regular corporate tax in any given year. In general, modified taxable income is calculated by adding back to a taxpayer’s regular taxable income the amount of certain “base erosion tax benefits” with respect to payments to foreign affiliates, as well as the “base erosion percentage” of any net operating loss deductions. Final Regulations confirmed that benefit and claim payments made by our U.S. insurance business to our foreign affiliates on reinsurance assumed by the U.S. affiliates are not base erosion payments. The Global Intangible Low-Taxed Income (“GILTI”) provision applies a minimum U.S. tax to earnings of consolidated foreign subsidiaries in excess of a 10% deemed return on tangible assets of foreign subsidiaries by imposing the U.S. tax rate to 50% of earnings of such foreign affiliates and provides for a partial foreign tax credit for foreign income taxes. The amount of tax in any period on GILTI can depend on annual differences between U.S. taxable income recognition rules and taxable income recognition rules in the country of operations and the overall taxable income of U.S. operations, as well as U.S. expense allocation rules which limit the amount of foreign tax credits that can be applied to reduce the U.S. tax on the GILTI provision. Under certain circumstances, the taxable income of U.S. operations may cause more than 50% of earnings of foreign affiliates to be subject to the GILTI provision. In years that the PFI consolidated federal income tax return reports a net operating loss or has a loss attributable to U.S. sources of operations, the GILTI provision would cause a loss of U.S. tax benefits for some or all of those losses, effectively increasing the tax on foreign earnings. The Company accounts for the effects of the BEAT and GILTI provisions as a period cost if and when incurred. | 379 | 10K |
gb_prudential-AR_2012 | 1,301 | Directors’ interests Individual directors’ interests are set out on page 133 of the Directors’ remuneration report. | 16 | annual_report |
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2004 | 2,073 | Change in other underwriting provisions – Provisions for future policy benefits –308 75 – –8 134 115 – – –174 182 | 21 | annual_report |
3537 | 2,486 | RECLASSIFICATIONS - Certain prior year amounts have been reclassified to conform to the 2007 presentation. Such reclassifications had no effect on previously reported net income or shareholders' equity. | 28 | 10K |
5831 | 1,310 | Gross premium volume in our underwriting operations increased 11% in 2020, primarily due to an increase in gross premium volume in our Insurance segment. Also impacting consolidated gross premium volume were gross premiums written through our program services business and other fronting arrangements, which decreased 10% in 2020. The decrease in gross premium volume in our program services business was driven by the run-off of one large program and the cancellation of an in-force book of policies related to another large program. Substantially all gross premiums from our program services business and other fronting arrangements were ceded to third parties in 2020 and 2019. See "Other Operations" for further discussion on gross premiums from our program services operations. | 118 | 10K |
5606 | 613 | Total Investments and Cash and cash equivalents increased $0.5 billion from $8.0 billion at December 31, 2017 to $8.5 billion at December 31, 2018, primarily driven by growth in assets supporting Universal, Term and Variable Life business growth, partially offset by unrealized losses on investments due to the rising interest rate environment. | 52 | 10K |
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