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ScorSE-AR_2010
391
Additionally at each reporting date SCOR assesses if there is any indication that an intangible asset may be impaired and if such indication exists SCOR completes an estimate of the recoverable amount which may or may not result in an impairment charge. The assessment of the existence of an indication of impairment includes numerous internal and external sources of information in accordance with IAS 36 Impairment of assets and SCOR is therefore dependent on the reliability of those sources.
79
annual_report
ScorSE-AR_2016
3,171
Dividend and interest cash receipts relating to investments held during the year were EUR 24 million (2015: EUR 20 million and 2014: EUR 14 million) and EUR 494 million (2015: EUR 495 million and 2014: EUR 360 million).
38
annual_report
TrygAS-AR_2017
63
Annual report 2017 | Tryg A/S | 6Contents – Management’s review
11
annual_report
4614
878
A 100 basis point decrease in our estimated long-term rate of return on pension plan assets would increase the benefit expense for the year ended December 31, 2012, by $0.7 million, while a 100 basis point increase in the rate would decrease benefit expense by $0.7 million, for the same period.
51
10K
NatwestGroupPLC-AR_2004
1,928
The average number of persons employed by the Group during the year, excluding temporary staff, was 133,300 (2003 – 119,500; 3 Pension costs
23
annual_report
AegonNV-AR_2017
2,388
Sarbanes Oxley Act in the United States and his competence in accounting and auditing according to the Audit Committee
19
annual_report
NatwestGroupPLC-AR_2010
1,997
Global Transaction Services 35,462 32,428 Ulster Bank 40,750 42,042 US Retail & Commercial 51,699 52,104 Retail & Commercial 360,974 356,165 Global Banking & Markets 171,891 205,588
26
annual_report
5517
1,622
See Note 11, Income Taxes, for further detail on our uncertain tax positions and other income tax items. Although no Internal Revenue Service (IRS) penalties currently are accrued, if incurred, they would be recognized as a component of income tax expense.
41
10K
DirectLineInsuranceGroupPLC-AR_2015
587
Prior-year reserve releases from ongoing operations continued to be significant at £378.9 million (2014: £397.6 million) and were equivalent to 13.0% of net earned premium (2014: 13.3% of net earned premium). Reserve releases were higher than expected in 2015 and the overall level for 2016 is expected to remain significant, albeit lower than in 2015.
55
annual_report
3763
644
The fair market values of financial instruments held or issued by the Company are determined through the use of observable market data when available. Market data is obtained from a variety of third-party sources, including dealer quotes. If dealer quotes are not available for an instrument that is infrequently traded, we use alternate valuation methods, including either dealer quotes for similar contracts or modeling using market data inputs. Using alternate valuation methods generally requires considerable judgment in the estimates and assumptions used and changes to these variables may produce materially different values.
92
10K
SwissReAG-AR_2017
2,486
Swiss Re Group and Business Units In 2017, the Group’s US GAAP performance and EVM results were significantly impacted by large natural catastrophe events including Cyclone Debbie in Australia, the North Atlantic hurricanes, the Mexican earthquakes and the wildfires in California. The destructive force of these events was reflected in both the Property & Casualty Reinsurance and Corporate Solutions results. The very strong investment results across all Business Units partially offset the impact from the large natural catastrophe losses. Life & Health Reinsurance delivered solid US GAAP and economic results, additionally benefiting from a good underwriting performance. Life Capital delivered a strong performance across all metrics and generated significant gross cash for the Group.
114
annual_report
2314
772
The Company periodically monitors the GIC Portfolio for individual investments in an unrealized loss position in order to assess whether that investment is considered other-than-temporarily impaired. In each case, the Company determines the nature and cause of the decline and whether the Company maintains the ability and intent to hold the security until the unrealized loss may reverse or until maturity. At December 31, 2003, there were nine securities that were in an unrealized loss position for a continuous 12-month period or longer. None of the nine securities had an unrealized loss that exceeded book value by 20% or greater at December 31, 2003. At December 31, 2003, the Company determined that no investments were considered other-than-temporarily impaired.
118
10K
275
420
Gross unrealized investment gains on equity securities available for sale totaled $5.5 million and $158.7 million and losses totaled $1.4 million and $23.0 million, at December 31, 1995, and 1994, respectively.
31
10K
de_allianz-AR_2019
1,268
Vests’ protests continued in France in the first half year 2019. Geopolitical tensions also prevailed in the Middle East, particularly between
21
annual_report
Sampoplc-AR_2001
2,197
From others –168 Prepayments and accrued income 0 Other assets –6
11
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2015
93
The investment year 2015 was marked by persistently low interest rates, global economic worries in the developed and emerging markets, and by uncertainty regarding the future course of Greece. On the other hand, the stock markets caught a tailwind from the continuation of the ECB’s cheap money policy.
48
annual_report
1355
196
Schedule I. Summary of Investments - December 31, 1999 and 1998......... 38
12
10K
PhoenixGroupHoldingsPLC-AR_2012
1,702
It has been assumed that post-retirement mortality is in line with standard tables PNA00 with a scaling factor of 105% being applied, allowing for future improvements in line with the long cohort improvement factors, subject to a minimum improvement from 2007 onwards of 1.25% p.a. and 0.75% p.a. for males and females respectively. Under these assumptions, the average life expectancy from retirement for a member currently aged 40 retiring at age 60 is 31.7 years and 34.1 years for male and female members respectively.
84
annual_report
4225
904
•On December 8, 2010, AIG established a $500 million contingent liquidity facility.
12
10K
GjensidigeForsikringASA-AR_2014
428
- Pursuant to the Articles of Association, the general meeting will be chaired by the Chair of the Supervisory Board, or by the Deputy Chair, or, if they are both absent, by the Chairman of the Board or another person designated by the Board.
44
annual_report
SwissLifeHoldingAG-AR_2018
990
Public Affairs is responsible for monitoring matters of political significance, guiding and coordinating Swiss Life’s positions on such matters both internally and externally, and strategically developing and expanding a network among the involved parties. The Political Communications Steering Committee is the relevant strategic body. Its members are the Group CEO and the Group CFO, the CEOs of divisions headquartered in Switzerland, General Counsel, the Chief Risk Officer and the head of Group Communications. The Head of Public Affairs manages this STC and provides operational leadership. The Steering Committee, chaired by the Group CEO, meets four times a year and defines its political communication priorities.
104
annual_report
3223
1,118
In the normal course of business, our insurance operations cede a substantial portion of their premium through pro rata, excess of loss and facultative reinsurance agreements. Our reinsurance operations also obtain reinsurance whereby another reinsurer contractually agrees to indemnify it for all or a portion of the reinsurance risks underwritten by our reinsurance operations. Such arrangements, where one reinsurer provides reinsurance to another reinsurer, are usually referred to as “retrocessional reinsurance” arrangements. In addition, our reinsurance subsidiaries participate in “common account” retrocessional arrangements for certain pro rata treaties. Such arrangements reduce the effect of individual or aggregate losses to all companies participating on such treaties, including the reinsurers, such as our reinsurance operations, and the ceding company. Reinsurance recoverables are recorded as assets, predicated on the reinsurers’ ability to meet their obligations under the reinsurance agreements. If the reinsurers are unable to satisfy their obligations under the agreements, our insurance or reinsurance operations would be liable for such defaulted amounts.
160
10K
4756
2,370
We enter into obligations with third parties in the ordinary course of our operations. These obligations, as of December 31, 2013, are set forth in the table below. However, we do not believe that our cash flow requirements can be assessed based upon this analysis of these obligations as the funding of these future cash obligations will be from future cash flows from premiums, deposits, fees and investment income that are not reflected in the following table. Future cash outflows, whether they are contractual obligations or not, also will vary based upon our future needs. Although some outflows are fixed, others depend on future events. Examples of fixed obligations include our obligations to pay principal and interest on fixed rate borrowings. Examples of obligations that will vary include obligations to pay interest on variable rate borrowings and insurance liabilities that depend on future interest rates and market performance. Many of our obligations are linked to cash-generating contracts. These obligations include payments to contractholders that assume those contractholders will continue to make deposits in accordance with the terms of their contracts. In addition, our operations involve significant expenditures that are not based upon “commitments.”
193
10K
2321
323
Balance Sheets. Realized capital gains and losses on all other investments are reflected in the Company's results of operations. Unrealized capital gains and losses on all other investments are reflected in shareholder's equity, net of related income taxes.
38
10K
RSAInsuranceGroupPLC-AR_2014
59
This Annual Report and Accounts contains ‘forward-looking statements’ with respect to certain of the &QNTO�R�OK@MR�@MC�HSR�BTQQDMS�FN@KR�@MC�DWODBS@SHNMR�QDK@SHMF�SN�HSR�ETSTQD�äM@MBH@K�BNMCHSHNM��ODQENQL@MBD�� results, strategic initiatives and objectives. For further details, reference should be made to the ‘important disclaimer’ on the inside back cover. Pages 2 to 47 constitute the Strategic Report of RSA and are incorporated by reference into the Directors’ and Corporate Governance Report set out on pages 48 to 106. The Directors’ and corporate governance report has been drawn up and presented in accordance with and in reliance upon applicable English company law and the liabilities of the Directors in connection with that report shall be subject to the limitations and restrictions provided by such law.
111
annual_report
2920
1,622
We believe that we currently have sufficient assets to pay our foreseen liabilities as they become due. As a result of our losses, for Bermuda company law purposes, we expect that the realizable value of our assets will no longer exceed the aggregate of our liabilities and our issued share capital and share premium accounts. So long as this deficiency continues, we are prohibited by Bermuda company law from paying dividends or making distributions to our shareholders, including our holders of series A preferred shares. In order for Quanta Holdings to have the flexibility to pay dividends to shareholders, we are evaluating a proposal to reduce the share premium account and allocate sums to our contributed surplus account. This reduction of our share premium account and reallocation to the contributed surplus account would require the approval of our common shareholders to be effective. If our common shareholders do not approve any such proposal, we may be restricted by Bermuda company law from declaring or paying dividends to our holders of series A preferred shares and other shareholders. We cannot make any assurances that we will have the ability to declare and pay dividends under Bermuda law to our shareholders in the future. In addition, even if we submit, and our shareholders approve, any proposal and we are permitted by law to declare and pay dividends, we cannot assure you that future losses or other events could not impair our ability to pay dividends to our shareholders.
246
10K
fr_axa-AR_2009
8,208
Non controlled investment funds designated as at fair value through profi t or loss 2,177 - 10 2,187
18
annual_report
HannoverRueckSE-AR_2012
553
Hannover Finance (Luxembourg) S.A., subordinated debt, EUR 500 million; 2005 / undated 1.6.2005 5.00 489.6 485.7
16
annual_report
5869
1,800
(3) U.S. government-agency obligations were approximately 35% of mortgage backed securities as of December 31, 2020 and 42% as of December 31, 2019, based on fair value.
27
10K
SwissLifeHoldingAG-AR_2018
771
Responsibility in business Customer centricity Swiss Life places customers at the centre of its activities. Customer satisfaction is regularly measured and the results of customer feedback are incorporated into the development of products and services.
35
annual_report
HiscoxLtd-AR_2015
1,315
3.2 Financial risk Overview The Group is exposed to financial risk through its ownership of financial instruments including financial liabilities. These items collectively represent a significant element of the Group’s net shareholder funds. The Group invests in financial assets in order to fund obligations arising from its insurance contracts and financial liabilities.
52
annual_report
1122
430
but marketed and administered by the Company under agreements with the underwriting insurers. A small portion of the Company's revenues is generated from commissions earned from the insurance companies underwriting such dental indemnity insurance.
34
10K
gb_lloyds_banking_grp-AR_2010
5,386
Overview Business review Governance Financial statements Other information 183 Group profile 1
12
annual_report
2303
377
The Company's future minimum annual lease commitments under all operating leases as of December 31, 2003 are as follows:
19
10K
5930
1,661
The Company determined, based on a review of the terms features and rights of the Series D preferred shares compared to the rights of the Company’s common shareholders, the underlying 38,288,460 common shares that the convertible securities convert to were common share equivalents at the time of their issuance.
49
10K
SwissLifeHoldingAG-AR_2006
1,902
Swiss Life Holding has the option to redeem all outstanding bonds at their principal amount (together with unpaid accrued interest) at any time on or after 25 June 2007, provided that the closing price of the Swiss Life Holding share was at least 130% of the conversion price for 20 consecutive trading days. The early redemption at the option of Swiss Life Holding is subject to a period of 30 days’ notice to the bondholders.
75
annual_report
5625
750
The following table provides a summary of our clean coal plant investments as of December 31, 2018 (in millions):
19
10K
SwissLifeHoldingAG-AR_2006
1,527
Swiss Life Group . Financial Statements 2006 . Notes to the Consolidated Financial Statements 137The bank’s principal risk measure for the general market risk of the trading book is value at risk (VaR). In addition, the risk exposure for each single portfolio or desk is regulated through a system of limits, which is subordinated to the comprehensive value at risk limits. The limits include risk measures such as mark-to-market exposure, delta, gamma and vega exposure, basis point values and other indicators.
81
annual_report
4445
596
Residential mortgage originations in the United States (based on the total dollar value of the transactions) decreased 19.7% in 2011 when compared with 2010, according to the Mortgage Bankers Association’s January 18, 2012 Mortgage Finance Forecast (the “MBA Forecast”). This decrease was due to a decline in both purchase and refinance activity. According to the MBA Forecast, the dollar amount of purchase originations and refinance originations decreased 14.6% and 21.9%, respectively, in 2011 when compared with 2010. Residential mortgage originations in the United States decreased 21.2% in 2010 when compared with 2009 according to the MBA Forecast. This decrease reflected decreases in purchase originations and refinance originations of 32.6% and 15.1%, respectively.
112
10K
3927
862
The use of reinsurance is an important component of our business strategy. We purchase reinsurance to protect us from the impact of large losses. Our reinsurance program for 2009 includes 16 reinsurers that provide
34
10K
4652
3,096
As part of its risk management strategy, the Company hedges or limits its exposure to these risks, excluding those risks that have been deemed suitable to retain and risks that are not able to be hedged, through a combination of product design elements, such as an automatic rebalancing element, and externally purchased hedging instruments, such as equity options and interest rate derivatives. The automatic rebalancing element included in the design of certain optional living benefits transfers assets between certain variable investments selected by the annuity contractholder and, depending on the benefit feature, a fixed-rate account in the general account or a bond portfolio within the separate accounts. The transfers are based on the static mathematical formula used with the particular optional benefit which considers a number of factors, including, but not limited to, the impact of investment performance of the contractholder’s total account value. In general, negative investment performance may result in transfers to a fixed-rate account in the general account or a bond portfolio within the separate accounts, and positive investment performance may result in transfers back to contractholder-selected variable investments. Other product design elements utilized for certain products to manage these risks include asset allocation restrictions and minimum issuance age requirements. For risk management purposes the Company segregates the variable annuity living benefit features into those that include the automatic rebalancing element, including certain GMIWB riders and certain GMAB riders that feature the GRO policyholder benefits; and those that do not include the automatic rebalancing element, including certain legacy GMIWB, GMWB, GMAB and GMIB riders. Living benefit riders that include the automatic rebalancing element also include GMDB riders, and as such the GMDB risk in these riders also benefits from the automatic rebalancing element.
286
10K
2670
3,281
In general, our businesses are subject to a changing social, economic, legal, legislative and regulatory environment that could affect them. Some of the changes include initiatives to restrict insurance pricing and the application of underwriting standards and reinterpretations of insurance contracts long after the policies were written in an effort to provide coverage unanticipated by us. The eventual effect on us of the changing environment in which we operate remains uncertain.
71
10K
SwissReAG-AR_2020
2,440
(ie largely unimpacted by any COVID-19related stock market developments), the Compensation Committee concluded that no windfall gains will occur. Details on the 2020 performance outcomes are provided on pages 132–137, and information on compensation disclosure and shareholdings for 2020 is detailed on pages 138–145 of this Financial Report.
48
annual_report
de_allianz-AR_2008
3,153
In the Property-Casualty segment, a wide variety of insurance products is offered to both private and corporate customers, including motor liability and own damage, accident, general liability, fire and property, legal expense, credit and travel insurance. The core markets for the Property-Casualty business are Germany, France, Italy and other European countries, like the United Kingdom, Switzerland and Spain. Further operations are run in particular in the United States, Central and Eastern Europe and Asia-Pacific.
74
annual_report
fr_axa-AR_2015
2,948
• the review of the Bylaws of the Board of Directors,
11
annual_report
4286
4,494
In the personal lines segment for 2010 we had an underwriting loss of $3.4 million, a GAAP combined ratio of 117.6%, a GAAP loss and loss adjustment expense ratio of 82.5% and a GAAP underwriting expense ratio of 35.1%, compared to an underwriting loss of $1.0 million, a GAAP combined ratio of 104.9%, a GAAP loss and loss adjustment expense ratio of 69.4% and a GAAP underwriting expense ratio of 35.5% in 2009.
73
10K
CNPAssurancesSA-AR_2005
2,771
CNP Assurances underwrote a €103 million perpetual subordinated notes issue carried out by Ecureuil Vie on
16
annual_report
4843
1,515
Our investment holdings are primarily currently comprised of investment grade securities and have an average rating of “A+” and “A1” as rated by S&P and/or Moody’s, respectively. At this time, there is no indication of default on interest and/or principal payments under our holdings. We have the ability and current intent to hold to recovery all securities with an unrealized loss position. As of December 31, 2013, our investment portfolio includes $390.5 million, or 24.0% of our portfolio holdings, of mortgage-backed and asset-backed securities. The majority of our mortgage-backed securities are Fannie Mae, Freddie Mac and Ginnie Mae issues, and the average rating of our entire asset-backed securities is AA+/Aa1. However, any failure by Fannie Mae or Freddie Mac to honor the obligations under the securities they have issued or guaranteed could cause a significant decline in the value or cash flow of our mortgage-backed securities. As of December 31, 2013, our investment portfolio also included $757.0 million, or 46.5% of our portfolio holdings, of obligations of state and other political subdivisions and $455.6 million, or 28.0% of our portfolio holdings, of corporate debt securities.
185
10K
4014
1,780
In June 2009, the Financial Accounting Standards Board ("FASB") issued new guidance. This statement modifies the GAAP hierarchy by establishing only two levels of GAAP, authoritative and non-authoritative accounting literature. Effective July 2009, the FASB Accounting Standards Codification, also known collectively as the "Codification," is considered the single source of authoritative U.S. accounting and reporting standards, except for additional authoritative rules and interpretive releases issued by the Securities and Exchange Commission ("SEC"). Non-authoritative guidance and literature would include, among other things, FASB Concepts Statements, American Institute of Certified Public Accountants Issue Papers and Technical Practice Aids and accounting textbooks. The Codification was developed to organize GAAP pronouncements by topic so that users can more easily access authoritative accounting guidance. It is organized by topic, subtopic, section, and paragraph, each of which is identified by a numerical designation.
137
10K
DirectLineInsuranceGroupPLC-AR_2017
2,385
Reinsurance premium: Premium payable (208.4) (206.2) Movement in reinsurance unearned premium reserve 3.7 4.0 6. Investment return £m 2016 £m
20
annual_report
5012
932
Each reporting period, we estimate our obligations for medical care services that have been rendered on behalf of insured consumers but for which claims have either not yet been received or processed and for liabilities for physician, hospital and other medical cost disputes. We develop estimates for medical care services incurred but not reported using an actuarial process that is consistently applied, centrally controlled and automated. The actuarial models consider factors such as time from date of service to claim receipt, claim processing backlogs, seasonal variances in medical care consumption, health care professional contract rate changes, medical care utilization and other medical cost trends, membership volume and demographics, the introduction of new technologies, benefit plan changes, and business mix changes related to products, customers and geography. Depending on the health care professional and type of service, the typical billing lag for services can be up to 90 days from the date of service. Substantially all claims related to medical care services are known and settled within nine to twelve months from the date of service. As of December 31, 2014, our days outstanding in medical payables was 47 days, calculated as total medical payables divided by total medical costs times 365 days.
202
10K
ch_zurich_insurance_group-AR_2019
2,798
Gross reserves for losses and loss adjustment expenses (undiscounted) 68,274 67,762 69,986 68,312 64,472 62,971 62,254 66,715 62,187 60,384
19
annual_report
4172
2,264
Other derivatives classified in Level 2 represent over-the-counter instruments such as interest rate and foreign currency swap contracts. Fair values for these instruments are determined using market observable inputs including forward currency and interest rate curves and widely published market observable indices. Credit risk related to the counterparty and the Company is considered when estimating the fair values of these derivatives. However, the Company is largely protected by collateral arrangements with counterparties, and determined that no adjustment for credit risk was required as of December 31, 2010 or December 31, 2009. The nature and use of these other derivatives are described in Note 13.
104
10K
5309
791
Consummation of the merger is subject to certain customary conditions, including the receipt of certain necessary governmental and regulatory approvals, and the absence of a legal restraint prohibiting the consummation of the merger. On July 21, 2016, the U.S. Department of Justice ("DOJ") and certain state attorneys general filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia (the "District Court") seeking to block the merger and, on January 4, 2017, the parties concluded the District Court trial. On February 8, 2017, the District Court issued an order enjoining the proposed merger. Anthem appealed this ruling to the U.S. Court of Appeals for the District of Columbia Circuit (the "Appeals Court"). Additionally, Cigna appealed the District Court ruling following the Chancery Court ruling described below.
130
10K
gb_prudential-AR_2017
4,305
Unit-linked UK and Europe insurance operations also have a book of unit‑linked policies.
13
annual_report
de_allianz-AR_2011
1,967
iFrS does not provide specific guidance concerning all aspects of the recognition and measurement of insurance contracts, reinsurance contracts and investment contracts with discretionary participation features. therefore, as envisioned in iaS 8, accounting policies, Changes in accounting estimates and errors, the provisions embodied under accounting principles generally accepted in the united States of america (uS Gaap) have been applied to those aspects where specific guidance is not provided by iFrS 4, insurance Contracts.
73
annual_report
INGGroepNV-AR_2009
211
Equator Principles Number of projects reviewed 77 135 Sustainable assets under management (2)
13
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2009
455
Remuneration in kind/fringe benefits remuneration in kind and fringe benefits are granted according to function, and are commensurate with market conditions (daX 30 companies). income tax on the benefits in question is paid individually for each member of the Board of Management, with the company bearing the amount due.
49
annual_report
PosteItalianeSpA-AR_2017
7,069
Board of Statutory Auditors advised in favour of providing disclosure on an individual basis, based on the different activities carried out in 2017.
23
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2005
1,204
Investment result by type of investment 2005 Prev. year Change €m €m in %
14
annual_report
DirectLineInsuranceGroupPLC-AR_2020
949
Sustainability continued 62 Direct Line Group Annual Report and Accounts 2020
11
annual_report
ASRNederlandNV-AR_2017
228
Risks • Changes in consumer behaviour, resulting in declining and evolving demand for insurance products. For more information see Chapter 3.3.1 (Risk Management); • Unforeseen rises in life expectancy may have a major impact on future profitability, though mitigated by a.s.r.’s funeral and term life business; • The move from retail to wholesale purchase of insurance products (for instance, when consumers move from car ownership to car-sharing, cover will be purchased by the organisation that owns the vehicle), which will squeeze margins; • Further reduction of the principle of solidarity and growing attention for individual solutions, possibly compensated by mandatory solutions for uninsurable groups.
104
annual_report
5637
1,202
The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in Management’s Report on Internal Control Over Financial Reporting appearing under Item 9A. Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
121
10K
de_allianz-AR_2019
2,525
The analysis and forecasting required in this process are performed for individual jurisdictions by qualified local tax and financial professionals. Given the potential significance surrounding the underlying estimates and assumptions, group-wide policies and procedures have been designed to ensure consistency and reliability around the recoverability assessment process. Forecast operating results are based upon approved business plans, which are themselves subject to a welldefined process of control. As a matter of policy, especially strong evidence supporting the recognition of deferred tax assets is required if an entity has suffered a loss in either the current or the preceding period. Recognition and recoverability of all significant deferred tax assets are reviewed by tax professionals at Group level and by the
118
annual_report
AdmiralGroupPLC-AR_2016
992
During the first half of 2016 the volatility of the yield curves led to increased volatility in the Solvency Ratio as a result of the interest rate risks associated with settled and potential PPOs. The increase in yield curves through the second half of 2016 as well as further mitigating actions has led to a reduced exposure to interest rate risk at year end 2016.
65
annual_report
SwissReAG-AR_2015
3,974
With the World Energy Council: World Energy Perspective: The road to resilience – managing and financing extreme weather risks
19
annual_report
1265
266
Income from continuing operations: Basic $ 2.51 $ 3.55 $ 2.21 Assuming dilution 2.50 3.35 2.20
16
10K
HannoverRueckSE-AR_2008
1,278
The VaR is calculated using a multi-factor model designed by APT (Advanced Portfolio Technologies). The data basis consists of all asset classes of the investment portfolios. The APT model distinguishes between three different perspectives on the expected volatility: • Total risk: annualised volatility (expected volatility of the portfolio) • Systematic risk: expected volatility (can be explained by model factors) • Specific risk: residual (cannot be explained by model factors)
69
annual_report
4013
696
Investments at equity include investments in entities that are consolidated subsidiaries of Fairfax, but are less than 50% owned by the Company, as well as investments in certain partnerships, accounted for under the equity method of accounting. These investments consist of equity interests of between approximately 1% and 47% at December 31, 2009, with a total carrying value of $167,331 and $117,586 at December 31, 2009 and 2008, respectively. For the years ended December 31, 2009, 2008 and 2007, total earnings (losses) of investments at equity were $53,308, $(51,947) and $48,831, respectively. Earnings (losses) of investment companies and similar equity method investees of $53,187, $(51,238) and $12,985 in 2009, 2008 and 2007, respectively, are included in investment income on the consolidated statements of income. Pre-tax earnings (losses) of other equity method investees of $121, $(709) and $35,846 in 2009, 2008 and 2007, respectively, are included in equity in earnings of investees, net of tax, on the consolidated statements of income. Dividends received from other equity method investees were $486, $475 and $5,318 in 2009, 2008 and 2007, respectively.
178
10K
nl_ing_grp-AR_2010
863
During the internal meetings of the Supervisory Board (Supervisory Board meetings in most cases with the CEO present), the Supervisory Board approved the proposed new remuneration policy on the basis of the Dutch Banking Code. The Executive Board 2009 performance assessments and performance objectives for 2010 were also approved. The possible consequences of the new EU Capital Requirements Directive (CRD III) for the new ING compensation policy were a topic of discussion later in the year. The succession planning for the Executive Board positions was also discussed in a number of internal Supervisory Board meetings. In November, the Supervisory Board discussed the proposed candidates for the Management Board Insurance and the Management Board Banking as well as the compensation proposals for these candidates. The outcome of the annual Supervisory Board self-assessment through a questionnaire was reviewed by the Supervisory Board in a meeting with only the Supervisory Board members present. To improve its functioning, the Supervisory 3 Corporate governance
159
annual_report
5700
14,959
In addition we also observed higher than expected losses in UK/Europe property and special risks business driven by unexpected development on various large claims across the property, aviation, marine, and trade credit segments.
33
10K
5307
1,258
Depreciation and amortization related to property and equipment are allocated to the product segments while the related property, equipment and capitalized software are allocated to the Corporate and Other segment. Depreciation and amortization for the Corporate and Other segment include $4.4 million for 2016, $4.1 million for 2015 and $3.1 million for 2014 relating to leases with affiliates. In the consolidated statements of operations, we record these depreciation amounts net of related lease income from affiliates.
76
10K
NatixisSA-AR_2005
3,253
This is a free translation into English of the Statutory Auditors' report issued in the French language and is provided solely for the convenience of English speaking readers.The Statutory Auditors' report includes information specifically required by French law in all audit reports, whether qualified or not, and this is presented below in the opinion on the parent company financial statements.These assessments were considered for the purpose of issuing an audit opinion on the financial statements taken as a whole and not to provide separate assurance on individual account captions or on information taken outside of the financial statements.
98
annual_report
gb_prudential-AR_2015
167
4 Following the disposal of the Group’s 25 per cent interest in PruHealth and PruProtect in November 2014, the 2014 comparative results of UK insurance operations have been adjusted to exclude results of those businesses.
35
annual_report
gb_prudential-AR_2006
2,747
Other non-insurance liabilities: Obligations under funding, securities lending and sale and repurchase agreements G1 4,232 4,529
16
annual_report
3356
1,221
The supplemental executive retirement plan provided defined pension benefits for certain executives who became our employees as a result of the acquisition of a block of individual life insurance and annuity business from CIGNA Corporation (“CIGNA”). Effective January 1, 2000, this plan was amended to freeze benefits payable under this plan and a second supplemental executive retirement plan was established for this same group of executives. The benefits payable to these executives under this plan will not be less than they would have been under their pre-acquisition plan. The benefit is based on an average compensation figure that is not less than the minimum three-year average compensation figure in effect for these executives as of December 31, 1999. Any benefits payable from this plan are reduced by benefits payable from our employees’ defined benefit pension plan.
136
10K
984
629
In 1996, the Company received a refund that had been accrued in 1995 relating to the final settlement of litigation for tax years 1980 through 1983. The refund of taxes was $1.5 million, and interest on the refund was $4.2 million. The Company also received a refund that had been accrued in 1994 relating to a final settlement of the remaining issues in dispute for the 1984 and 1985 tax years. The refund of taxes was $3.1 million, and related interest was $5.9 million.
84
10K
de_allianz-AR_2018
2,422
In accordance with IFRS 10, the Allianz Group’s consolidated financial statements include the financial statements of Allianz SE and its subsidiaries. The Allianz Group controls a subsidiary when it is exposed to, or has rights to, variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary. Subsidiaries are usually entities where
63
annual_report
5508
328
Net investment income totaled $1,330,000 in 2018 compared to $1,571,000 in 2017; a decrease of $241,000. The primary reason for the decrease in net investment income was a $374,000 decline in the value of investments in the cash value of our company owned life insurance in the current year compared to the same period last year.
56
10K
SwissLifeHoldingAG-AR_2014
1,869
land and Furniture other Notes buildings and fixtures Hardware equipment Total
11
annual_report
ScorSE-AR_2019
2,989
Short-term investments include EUR 97 million that are carried at fair value at December 31, 2019 (December 31, 2018: EUR 40 million). Other loans and receivables are carried at cost, which approximates their fair value at December 31, 2019 and 2018.
41
annual_report
4198
758
2009. Direct premium written for the marine segment was basically flat (up 0.2%). Renewal premiums were up 4.8%, with new business premium down 21.7%. The flat marine volume is due to a competitive market place coupled with the Michigan economy. The farm in-force count was up slightly, at 0.7% and marine was down 0.7%.
54
10K
CNPAssurancesSA-AR_2000
1,738
We also verified the information concerning the Group given in the Report of the Executive Board, in accordance with the professional standards applied in France. We have no comments to make concerning the fairness of this information and its consistency with the consolidated financial statements.
45
annual_report
NatixisSA-AR_2014
3,922
At 15.6%, ROE improved 1.7 points, refl ecting ongoing efforts to improve management of allocated capital, which fell 4% on average compared to 2013.
24
annual_report
PosteItalianeSpA-AR_2020
6,199
Net cash flow from/(for) financing activities and shareholder transactions 1,051 (388) n.a. (1,434) (492) 34.3
15
annual_report
NatwestGroupPLC-AR_2007
4,170
The tables below set out the Group’s structural foreign currency exposures.
11
annual_report
4888
1,533
Any accrued interest related to the unrecognized tax benefits have been included in income tax expense. There were no amounts included in 2014, 2013 or 2012, as the parent company maintains responsibility for the interest on unrecognized tax benefits. The Company has no accrued interest associated with unrecognized tax benefits as of December 31, 2014 and 2013 (before taking into consideration the related income tax benefit that is associated with such an expense).
73
10K
LloydsBankingGroupPLC-AR_2015
3,135
Impairment is a subjective area due to the level of judgement applied by management in determining provisions.
17
annual_report
3575
2,806
Trial in Scott was heard in two phases. In its July 2003 Phase I verdict, the jury rejected medical monitoring, the primary relief requested by plaintiffs, and returned sufficient findings in favor of the class to proceed to a Phase II trial on plaintiffs’ request for a state-wide smoking cessation program.
51
10K
fr_axa-AR_2017
6,341
AXA’s waste management policy integrates principles related to the circular economy such as “closing the loop” of product lifecycles. Recycling and re-use are followed to better manage our waste wherever possible. Even though AXA has not set any direct quantitative targets on waste generation , local entities are encouraged to improve their onsite waste sorting and implement voluntary initiatives to reduce waste and promote recycling. AXA
66
annual_report
gb_prudential-AR_2016
5,710
Solvency II and restructuring costs (57) (51) (51) (12)% (12)% Interest received on tax settlement 37 – – n/a n/a
20
annual_report
NatixisSA-AR_2002
746
The English language version of this annual report is a free translation from the original, which was prepared in French. All possible care has been taken to ensure that the translation is an accurate representation of the original. However in all matters of interpretation of information, views or opinion expressed therein the original language version of the document in French takes precedence over the translation.
65
annual_report
NatixisSA-AR_2016
2,424
Department. The Internal Audit Department reports to the periodic controls, carried out by the Internal Audita assessment of existing points of control in the audited Chief Executive Officer and performs audits that give rise to an consistency of the internal control mechanism throughout the Natixis organizes its control functions on a global basis to ensure whole company. The internal control system thus covers all risks
65
annual_report
5893
372
The Company cedes insurance risk to other insurers under reinsurance agreements.
11
10K
SwissLifeHoldingAG-AR_2016
3,360
CORPUS SIREO Projektentwicklung Lessingstrasse GmbH, Köln AM until 11.05.2016 – –
11
annual_report
5836
631
Throughout this annual report, we include certain non-generally accepted accounting principles (non-GAAP) financial measures. Management believes that these non-GAAP measures further explain the Company’s results of operations and allow for a more complete understanding of the underlying trends in the Company’s business. These measures should not be viewed as a substitute for those determined in accordance with generally accepted accounting principles in the United States of America (GAAP). In addition, our definitions of these items may not be comparable to the definitions used by other companies.
86
10K
ScorSE-AR_2012
4,995
21 September 2012 Disclosure of trading in the Company's shares by members of the Board of Directors (Claude Tendil)
19
annual_report
MuenchenerRueckversicherungsGesellschaftAGinMuenchen-AR_2015
1,088
The establishment of new units is a reaction to market challenges. For example, the Cyber Support Unit founded in Munich in July 2015 reflects the increasing demand for cyber insurance and reinsurance solutions. This unit supports operational units on all topics relating to cyber risks, such as accumulation control, treaty wording and the development of new cyber products, as well as – together with the HSB Loss Control Engineering unit – the evaluation of risks.
75
annual_report
GjensidigeForsikringASA-AR_2012
1,504
Gjensidige Insurance Group 104 I Gjensidige Annual Report 2012 Gjensidige Annual Report 2012 I 105
15
annual_report
SwissLifeHoldingAG-AR_2020
3,676
Issue of two senior bonds in 2013 Two senior bonds for a total amount of CHF 425 million were issued on 21 June 2013, split into a tranche of CHF 225 million with a tenor of six years which was repaid on 21 June 2019 (coupon of 1.125%) and a tranche of CHF 200 million with a tenor of ten years until 2023 (coupon of 1.875%).
66
annual_report