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3446 | 1,606 | compared to 2005. The increase in invested assets is due to the positive cash flow generated from our operating activities which we generated in 2007 and 2006, and which we have deployed into our invested assets. Our other investments, which include hedge funds, private equity funds and other alternative investments, generated $105.5 million of net investment income in 2007 compared to $65.7 million in 2006. These investments are carried at fair value, with interest, dividend income and realized and unrealized gains (losses) included in net investment income. Net investment income has become an increasingly significant component of our net income. The recent reduction in the Federal Funds rate by the Board of Governors of the Federal Reserve Board and corresponding decline in interest rates will likely result in a decline in our net investment income in future periods. | 138 | 10K |
ScorSE-AR_2010 | 214 | operations. Despite the audits carried out by the Group on the companies with which it does business, and its frequent contacts with these companies, it is still dependent upon their evaluation of the risk with regard to the establishment of its own reserves. | 43 | annual_report |
RaiffeisenBankInternationalAG-AR_2005 | 258 | 4 Sport Physical regeneration on a Sunday can mean many things. Lying-in, say. Or just the opposite, namely visiting the World Class Health Academy Fitness Club in the Marriott Grand Hotel. Calea 13 Septembrie 90 | 35 | annual_report |
2176 | 4,907 | Interest rate risk is the risk that we will incur an economic loss due to adverse changes in interest rates. This risk arises from many of our primary activities, as we invest substantial funds in interest-sensitive assets and carry significant interest-sensitive liabilities, primarily in our Allstate Financial operations. | 48 | 10K |
StandardLifeAberdeenPLC-AR_2007 | 1,043 | Effect of changes in: Economic assumptions 33 (100) 40 (27) (4) (31) | 12 | annual_report |
5843 | 526 | The costs related to acquiring new business, including certain costs of issuing policies and other variable selling expenses (principally commissions), defined as deferred acquisition costs, are capitalized and amortized into expense. We also record an asset, value of insurance in force acquired, for the cost assigned to insurance contracts when an insurance company is acquired. For nonparticipating traditional life products, these costs are amortized over the premium paying period of the related policies, in proportion to the ratio of annual premium revenues to total anticipated premium revenues. Such anticipated premium revenues are estimated using the same assumptions used for computing liabilities for future policy benefits and are generally “locked in” at the date the policies are issued. For participating traditional life insurance and interest sensitive products, these costs are generally amortized in proportion to expected gross profits from surrender charges and investment, mortality and expense margins. This amortization is periodically adjusted or unlocked when we revise key assumptions used in the calculation. For example, deferred acquisition costs are amortized earlier than originally estimated when policy terminations are higher than originally estimated or when investments backing the related policyholder liabilities are sold at a gain prior to their anticipated maturity. | 199 | 10K |
2462 | 572 | Surrender charges are also included in fee and other income. Surrender charges represent revenues earned on the early withdrawal of fixed and variable annuity policyholder balances. Surrender charges on fixed and variable annuity surrenders generally are assessed at declining rates applied to policyholder surrenders during the first five to seven years of the contract. Total surrender charges were $2.7 million and $3.2 million for the years ended December 31, 2004 and 2003, respectively. | 73 | 10K |
SwissReAG-AR_2006 | 596 | Swiss Re’s risk and capital management ensures controlled risk taking and adequate capitalisation, maintaining the financial flexibility to profit from attractive business opportunities. | 23 | annual_report |
SwissReCorporateSolutions-AR_2016 | 167 | Latin America 406 398 Europe (including Middle East and Africa) 933 904 Asia-Pacific 291 304 | 15 | annual_report |
5900 | 748 | The fair value of plan assets in our U.S. qualified defined benefit pension plan was $1,710.9 million at December 31, 2020, compared to $1,600.0 million at December 31, 2019. The plan was in an underfunded position of $339.0 million and $300.8 million at December 31, 2020 and December 31, 2019, respectively. This year-over-year change was due primarily to the increase in period benefit obligations due to the decrease in discount rate, partially offset by higher than expected asset returns. | 79 | 10K |
gb_prudential-AR_2007 | 1,729 | For the operations in Taiwan, Vietnam and Japan, countries where local GAAP is not appropriate in the context of the previously applied MSB, accounting for insurance contracts is based on US GAAP. For these three operations the business written is primarily non-participating and linked business. The future policyholder benefit provisions for non-linked business are determined using the net level premium method, with an allowance for surrenders, maintenance and claim expenses. Rates of interest used in establishing the policyholder benefit provisions vary by operation depending on the circumstances attaching to each block of business. Where appropriate, liabilities for participating business for these three operations include provisions for the policyholders’ interest in realised investment gains and other surpluses that have yet to be declared as bonuses. | 124 | annual_report |
fr_axa-AR_2006 | 424 | The Selection, Ethics, Governance and Human Resources Committee: – formulates recommendations to the Supervisory | 14 | annual_report |
NatixisSA-AR_2008 | 2,106 | Through the apprenticeship tax, we are strengthening our relationships with higher-education establishments, and in 2008, we became members of the EDHEC Corporate Club and of the | 26 | annual_report |
3396 | 425 | Fixed income securities include bonds, asset-backed securities, mortgage-backed securities, commercial mortgage-backed securities and redeemable preferred stocks. Fixed income securities may be sold prior to their contractual maturity, are designated as available for sale and are carried at fair value. The fair value of fixed income securities is based upon observable market quotations, other market observable data or is derived from such quotations and market observable data. The fair value of privately placed fixed income securities is generally based on widely accepted pricing valuation models, which are developed internally. The valuation models use security specific information such as the credit rating of the issuer, industry sector of the issuer, maturity, estimated duration, call provisions, sinking fund requirements, coupon rate, quoted market prices of comparable securities and estimated liquidity premiums to determine security specific credit spreads. These spreads are then adjusted for illiquidity based on historical analysis and broker surveys. The difference between amortized cost and fair value, net of deferred income taxes, certain life and annuity deferred policy acquisition costs, certain deferred sales inducement costs, and certain reserves for life-contingent contract benefits, is reflected as a component of accumulated other comprehensive income. Cash received from calls, principal payments and make-whole payments is reflected as a component of proceeds from sales and cash received from maturities and pay-downs is reflected as a component of investment collections within the Consolidated Statement of Cash Flows. | 231 | 10K |
NatixisSA-AR_2009 | 6,894 | Due to banks 100,574 105,553 137,318 o/w other amounts due 86 4 6 | 13 | annual_report |
ch_zurich_insurance_group-AR_2019 | 1,398 | Annual target share allocations, subject to vesting in accordance with predefined performance criteria. Designed to support Zurich’s longer-term goals, encourage participants to operate the business in a sustainable manner and align the Group’s long-term interests with those of shareholders. | 39 | annual_report |
553 | 330 | Automation Edge American States, through interactive systems available in its agents' offices, provides fully automated policy production and services in both personal and commercial lines. The result: It's easier and more economical for an agency to do business with American States. The company uses knowledge-based systems in its claims operation and is implementing knowledge-based underwriting systems in its personal lines business. American States also is developing knowledge-based applications for selected commercial lines business. The company's strides in automation are enabling it to consolidate offices and empower agents at the point of sale. | 92 | 10K |
5237 | 1,708 | Interest expense. Interest expense for the years ended December 31, 2015 and 2014 was $28.9 million and $17.7 million, respectively, increasing primarily due to our (i) May 2014 issuance of $250.0 million aggregate principal amount of 6.75% Notes; (ii) August 2015 issuance of $100.0 million aggregate principal amount of 7.625% Notes; (iii) October 2015 issuance of $100.0 million aggregate principal amount of additional 6.75% Notes and (iv) the consolidation of the Reciprocal Exchanges. | 73 | 10K |
5167 | 658 | Effective February 5, 2016, the Company issued 47,333 shares of class B restricted stock to certain of the Company's executives. The restricted shares will be paid solely in the Company's class B stock. The restricted shares represent a portion of the calendar year 2015 compensation to certain executives under the terms of the Company's Executive Incentive Bonus Plan. The restricted shares will vest ratably over a three year period from the date of grant and are accelerated for retirement eligible recipients in accordance with the non-substantive post-grant date vesting clause of ASC 715, Compensation-Retirement Benefits. Restricted stock was valued based on the closing price of the stock on the day the award was granted. Each share was valued at $23.30 per share representing a total value of $1,103. Non-vested restricted shares will be forfeited should an executive's employment terminate for any reason other than death, disability, or retirement as defined by the Compensation Committee. | 154 | 10K |
gb_lloyds_banking_grp-AR_2019 | 7,421 | Shareholder helpline 0371 384 2990* from within the UK +44 121 415 7066 from outside the UK * Lines are open from 8.30 am to 5.30 pm Monday to Friday, excluding English and Welsh public holidays. | 36 | annual_report |
AdmiralGroupPLC-AR_2011 | 373 | Money market funds 333.8 29.8 – – 363.6 Long-term cash deposits 283.0 6.6 – 10.0 299.6 | 16 | annual_report |
AegonNV-AR_2007 | 4,431 | The bonds have the same subordination provisions as dated subordinated debt. In addition, the conditions of the bonds contain provisions for interest deferral and for the availability of principal amounts to meet losses. Although the bonds have no stated maturity, | 40 | annual_report |
5556 | 888 | Reinsurance payables include corresponding payables associated with reinsurance arrangements with affiliates. For additional information about these arrangements see Note 10. | 20 | 10K |
StorebrandASA-AR_2013 | 1,589 | AB, which in turn owns SPP Livförsäkring AB and SPP Liv Fondförsäkring AB. On acquiring the Swedish activities in 2007, the authorities instructed Storebrand to make an application to maintain a group structure by the end of 2009. Storebrand has submitted an application to maintain the current group structure, and it is of the opinion that it is natural to see possible changes in the group structure in light of the upcoming solvency framework (Solvency II). | 76 | annual_report |
gb_prudential-AR_2010 | 5,344 | Hong Kong branch register The Company operates a branch register for shareholders in Hong Kong. All enquiries regarding Hong Kong branch register accounts and requests for the Chinese version of the 2010 Annual Report should be directed to Computershare Hong Kong Investor Services Limited, 17M Floor, Hopewell Centre, 183 Queen’s Road East, Wan Chai, Hong Kong. Telephone: +852 2862 8555. Dividends will be paid in Hong Kong Dollars to shareholders on the Hong Kong Register. | 75 | annual_report |
gb_prudential-AR_2015 | 4,779 | Prudential Services Limited Ordinary shares 100.00% United Kingdom Prudential Services Singapore Pte. Ltd. Ordinary shares 100.00% Singapore Prudential Singapore Holdings Pte. Limited Ordinary shares 100.00% Singapore Prudential Staff Pensions Limited Ordinary shares 100.00% United Kingdom Prudential Trustee Company Limited Ordinary shares 100.00% United Kingdom Prudential UK Services Limited Ordinary shares 100.00% United Kingdom Prudential Unit Trusts Limited Ordinary shares 100.00% United Kingdom Prudential Vietnam Assurance Private Limited Ownership interest 100.00% Vietnam Prudential Vietnam Finance Company Limited Ownership interest 100.00% Vietnam Prutec Limited Ordinary shares 100.00% United Kingdom PT. Prudential Life Assurance Ordinary shares 94.62% Indonesia PT. Eastspring Investments Indonesia Ordinary shares 99.95% Indonesia PVFC Financial Limited Ordinary shares 100.00% Hong Kong PVM Partnerships Limited Ordinary shares 100.00% United Kingdom REALIC of Jacksonville Plans, Inc. Ordinary shares 100.00% USA Reeds Rains Prudential Limited (in liquidation) Ordinary shares 100.00% United Kingdom Reksa Dana Eastspring IDR Fixed Income Fund (NDEIFF) Ordinary shares 97.49% Indonesia Rhodium Investment Fund Ordinary shares 100.00% Singapore Rift GP 1 Limited Ordinary shares 100.00% United Kingdom Rift GP 2 Limited Ordinary shares 100.00% United Kingdom ROP, Inc Ordinary shares 100.00% USA SBP Management Limited Ordinary shares 27.70% United Kingdom ScotAm Pension Trustees Limited Ordinary shares 100.00% United Kingdom | 199 | annual_report |
AegonNV-AR_2009 | 1,937 | Net income recognized in the income statement – 2,551 – – – 2,551 – 2,551 | 15 | annual_report |
4983 | 1,490 | RGA, through wholly-owned subsidiaries, has committed to provide statutory reserve support to third-parties through 2035, in exchange for a fee, by funding loans if certain defined events occur. Such statutory reserves are required under the U.S. Valuation of Life Policies Model Regulation (commonly referred to as Regulation XXX for term life insurance policies and Regulation A-XXX for universal life secondary guarantees). The third-parties have recourse to RGA should the subsidiary fail to provide the required funding, however, as of December 31, 2014, the Company does not believe that it will be required to provide any funding under these commitments as the occurrence of the defined events is considered remote. The following table presents information about these commitments (dollars in millions): | 120 | 10K |
2890 | 469 | American Modern’s commissions and other policy acquisition costs increased 13.2% in 2004 to $201.2 million from $177.6 million in 2003. This increase is attributable to the growth in net earned premium combined with the increase in performance-based commission expense as a result of the significantly improved underwriting results achieved in 2004 compared to 2003. The fluctuations in performance-based commission expense are attributable, in part, to American Modern’s “Pay for Performance” commission policy with agents representing the Company which reduces the up-front commission paid but rewards favorable underwriting and growth performance with a higher performance-based commission. | 95 | 10K |
HiscoxLtd-AR_2018 | 1,428 | 3 Management of risk 3.2 Financial risk (d) Credit risk continued The Group also mitigates counterparty credit risk by concentrating debt and fixed income investments in high-quality instruments, including a particular emphasis on government bonds issued mainly by North American countries and the European Union. The Group has no direct exposure to sovereign debt in Spain, Italy, Ireland, Greece or Portugal. | 61 | annual_report |
HiscoxLtd-AR_2007 | 937 | TheBoard ensures that the use and allocation of capital are given a primary focus in all significant operational actions.With that inmind, the Grouphasdeveloped andembedded sophisticated capitalmodelling toolswithin its business. These join together short-termand long-term business plans and link divisional aspirationswith theGroup’s overall strategy. Themodels provide thebasis of the allocation of capital to different businesses andbusiness lines, aswell as the regulatory and rating agency capital processes. | 65 | annual_report |
StorebrandASA-AR_2019 | 2,665 | We have audited the financial statements of Storebrand ASA, which comprise: • The financial statements of the parent company Storebrand ASA (the Company), which comprise the statement of financial position as at 31 December 2019, the income statement, statement of total comprehensive income, statement of changes in equity and statement of cash flow for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and | 72 | annual_report |
HelvetiaHoldingAG-AR_2012 | 1,981 | Losses may occur for shareholders if the number of active policyholders becoming dis abled exceeds expectations or if fewer disabled policyholders than expected recover and the profit participation system is insufficient to cushion the impact of these variances. As disability benefit policies are almost exclusively taken out in Switzerland and premi ums in the group life sector and individual life business may be adjusted for disability benefit contracts sold after mid1997, the risk in Switzerland is limited to disability bene fit policies sold before mid1997. Here, the portfolio losses that are expected to occur are covered in full by local reserve reinforcements. These reserves are sensitive to the assumed expected loss burden in particular. | 114 | annual_report |
NatwestGroupPLC-AR_2019 | 454 | Source: Populus. Latest quarter’s data. Measured as a net % of those that trust Royal Bank of Scotland/NatWest to do the right thing, less those that do not. Latest base sizes: 531 for NatWest (England & Wales), 214 for Royal Bank of Scotland (Scotland). | 44 | annual_report |
PowszechnyZakladUbezpieczenSA-AR_2012 | 1,565 | Shareholders‟ Meeting and exercising the voting rights are always presented in an announcement of the General | 16 | annual_report |
2363 | 2,793 | Our Surety Excess of Loss treaty was renewed effective January 1, 2005 with essentially no changes in coverage and a significant reduction in premium rate. We realized a 22% reduction in the premium rate as compared to the 2004 treaty. The treaty provides per loss/per principal coverage up to $7.2 million in excess of $1.0 million retention and $0.8 million co-participation. The treaty provides the following reinstatements and annual aggregate limits: i) $3 million in excess of $1 million layer provides two reinstatements, $8.1 million annual aggregate limit, net of our co-participation; and ii) $5 million in excess of $4 million layer provides one reinstatement, $9 million annual aggregate limit, net of our co-participation. | 114 | 10K |
Sampoplc-AR_2012 | 153 | HR in Mandatum Life In 2012, Mandatum Life continued to invest in competence development and the development of a customer centric culture. | 22 | annual_report |
NNGroupNV-AR_2019 | 98 | Given all these factors, do you feel you are making enough progress in transforming the company? We need to speed up and take additional steps. Throughout 2019, we continued on our transformation journey, by optimising our business model as well as creating new capabilities. Increasing scale and optimisation are important prerequisites of sustainable and profitable growth. For example through the acquisitions of Delta Lloyd and VIVAT Non-life in our home market. And internationally, by acquiring the Aegon life and pension businesses in the Czech Republic and Slovakia. Next to that, we are creating and expanding innovation capabilities, for example with AI and through new strategic partnerships. The acquisition of Human Capital Services (HCS) in the Netherlands, for instance, has reinforced our position with regard to sustainable employability, and supports our broader aim to progressively shift from insurance products to service solutions. I believe it is vital to maintain focus and consider investment choices. | 153 | annual_report |
NatixisSA-AR_2015 | 3,081 | Equity holdings are part of the product strategy of Natixis’ capital business lines. Unlisted equity holdings also result from an investment rationale. The applicable accounting methods are mentioned in Chapter 5 (“Consolidated fi nancial statements and notes”). | 37 | annual_report |
LloydsBankingGroupPLC-AR_2010 | 1,963 | Supporting Britain’s businesses We support corporate and commercial customers throughout the economic cycle to ensure their financial health, stability and growth. Through this approach we are able to build deep and lasting relationships with customers, and support their ongoing contributions to the UK economy. | 44 | annual_report |
SwissReAG-AR_2007 | 1,342 | In September 2006, the Financial Accounting Standards Board issued SFAS No. 158 “Employers Accounting for Defined Benefit Pension and Other Post Retirement Plans” (SFAS 158). SFAS 158 requires an employer to recognise the over-funded or under-funded status of a defined benefit post-retirement plan as an asset or liability and to recognise changes in that funded status in the year in which the changes occur through comprehensive income. The Group adopted the provisions of FAS 158 for the year ended 31 December 2006 except for the provision to measure plan assets and benefit obligations as of the date of the employer’s fiscal year end statement of financial conditions. The Group will adopt this final provision in the first quarter of 2008. | 120 | annual_report |
ch_zurich_insurance_group-AR_2009 | 1,784 | Cumulative paid as of December 31: One year later (7,976) (8,923) (9,930) (9,464) (11,423) (11,237) (12,551) (13,047) Two years later (12,855) (14,472) (15,550) (16,273) (18,044) (18,362) (19,660) Three years later (16,698) (18,001) (20,407) (21,234) (23,077) (23,421) Four years later (19,255) (21,390) (23,941) (24,945) (26,850) Five years later (21,634) (23,814) (26,616) (27,798) Six years later (23,471) (25,799) (28,668) Seven years later (24,849) (27,442) Eight years later (26,166) | 66 | annual_report |
INGGroepNV-AR_2001 | 300 | certificates, but only in book-entry form. These bearer depositary receipts are now incorporated in two global depositary receipts which will be held in custody by the Nederlands Centraal | 28 | annual_report |
Sampoplc-AR_2013 | 1,579 | Net cash frNet cash from inom invvesesting activitiesting activities 360360 215215 | 11 | annual_report |
AvivaPLC-AR_2017 | 1,060 | Audit, Governance, Nomination and Risk Committees are contained in this report. A report from the Remuneration Committee is included in the directors’ remuneration report. | 24 | annual_report |
4619 | 484 | In October 2010, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2010-26 Financial Services - Insurance (Topic 944): Accounting for Costs Associated with Acquiring or Renewing Insurance Contracts - a Consensus of the FASB Emerging Issues Task Force (“ASU No. 2010-26”). ASU No. 2010-26 provided guidance and modifies the definition of the types and nature of costs incurred by insurance enterprises that can be capitalized in connection with the successful acquisition of new or renewal insurance contracts. Further, ASU No. 2010-26 clarified which costs may not be capitalized as deferred acquisition costs (“DAC”). ASU No. 2010-26 was effective for interim and annual periods in fiscal years beginning after December 15, 2011 with early adoption permitted. The Company adopted ASU No. 2010-26 for its fiscal year beginning January 1, 2012 and applied the retrospective method of adoption to year-end 2004. Any adjustment prior to 2004 was impracticable. | 151 | 10K |
LloydsBankingGroupPLC-AR_2018 | 4,557 | O ther inform ation Lloyds Banking Group Annual Report and Accounts 2018 189 | 13 | annual_report |
gb_prudential-AR_2016 | 1,708 | The Committee also reviewed and approved a number of regulatory compliance risk-related policies. | 13 | annual_report |
INGGroepNV-AR_2020 | 2,100 | This management adjustment has been recognised for SME and mid-corporate portfolios as these portfolios are considered to be most at risk and have the highest percentage of customers requesting payment holidays compared to other portfolios. ING has recognised a management adjustment of €85 million in the Netherlands and €131 million in Belgium as they are the largest SME portfolios and not significantly impacted by macroeconomic forecasts updates. Furthermore, a management adjustment of €28 million has been recognised in Australia for the mortgage portfolio which is also a portfolio where relative many payment holidays are granted and which is considered at risk. | 101 | annual_report |
1157 | 844 | This decrease in net expenses is the realization of the Registrant's previously stated strategy to increase its revenue while decreasing its overhead expenditures and resulted in a decrease in the expense ratio to 29.1% in 1998 as compared to 31.4% in 1997 (as adjusted for the FAIR Act assessments described above). | 51 | 10K |
NatixisSA-AR_2008 | 8,548 | Ixis CIB’s merger into Natixis resulted in the recognition of a negative technical value adjustment for the difference between the value of Ixis CIB shares on Natixis’ balance sheet and the net value of the assets contributed by Ixis CIB as of December 31, 2006 (the backdating date). All of the adjustment (€861 million) | 54 | annual_report |
gb_prudential-AR_2010 | 2,690 | iii Unit-linked and other business Unit-linked and other business represents a comparatively small proportion of the in-force business of the UK insurance operations. Profits from unit-linked and similar contracts primarily arise from the excess of charges to policyholders, for management of assets under the Company’s stewardship, over expenses incurred. The former is most sensitive to the net accretion of funds under management as a function of new business and lapse and timing of death. The accounting impact of the latter is dependent upon the amortisation of acquisition costs in line with the emergence of margins (for insurance contracts) and amortisation in line with service provision (for the investment management component of investment contracts). By virtue of the design features of most of the contracts which provide low levels of mortality cover, the profits are relatively insensitive to changes in mortality experience. | 141 | annual_report |
GjensidigeForsikringASA-AR_2011 | 2,168 | Amortisation method N/A Straight-line Straight-line Straight-line Straight-line Useful life (year) N/A 10 10 5-8 5-10 5 – intangible assets | 19 | annual_report |
NatixisSA-AR_2005 | 197 | Groupe Elior - 65, rue de Bercy 75589 Paris cedex 12 | 11 | annual_report |
gb_prudential-AR_2004 | 583 | Investing in our Communities In 2004 we invested £4.5 million in a wide range of projects around our business, supporting, for example, educational, welfare and environmental initiatives. This total includes the significant contribution made by many of our people around the Group through volunteering, often linked with professional skills development. It also includes direct donations to charitable organisations of £2.7 million. A detailed breakdown of Prudential’s investment in the community and our policy on not donating to political parties can be viewed on page 54. | 85 | annual_report |
gb_prudential-AR_2011 | 4,878 | Unwind of discount and other expected returnsnote (a) 485 550 Effect of change in UK corporate tax ratenote (b) 79 41 Updated mortality assumptions, net of release of marginsnote (c) – (40) | 32 | annual_report |
1790 | 500 | (5) Represents net income applicable to common shareholders, excluding realized gains, net of tax. | 14 | 10K |
3507 | 3,984 | In periods of declining equity markets and in periods of flat equity markets following a decline, the Company's liabilities for these guaranteed minimum death benefits increase. Conversely, in periods of rising equity markets, the Company's liabilities for these guaranteed minimum death benefits decrease. As a result of the implementation of the program to reduce equity market exposures discussed below, the favorable and unfavorable effects of the equity market on the reserve are largely offset in other revenues as a result of the related futures contracts gains or losses. | 88 | 10K |
SwissReAG-AR_2014 | 1,310 | Career Mathis Cabiallavetta held several positions at UBS AG from 1971, including President of the Group Executive Board in 1996 and Chairman in 1998. He joined Marsh & McLennan Companies in 1999 and was Vice Chairman of the company from 2001 to 2004. He is a former member of the Bank Council of the Swiss National Bank and a past Vice Chairman of the Board of Directors of the Swiss Bankers Association. He was also a member of the Committee of the Board of Directors of the Swiss Stock Exchange and the International Capital Markets Advisory Committee of the Federal Reserve Bank of New York. Mathis Cabiallavetta was elected to Swiss Re’s Board of Directors in 2008 and became Vice Chairman in March 2009. He chairs the Finance and Risk Committee as well as the Investment Committee and is a member of the Chairman’s and Governance Committee. | 147 | annual_report |
ASRNederlandNV-AR_2011 | 997 | exposure percentage exposure percentage 3.5.5 Spread risk Spread risk arises from the sensitivity of the value of assets and liabilities to changes in the level of credit spreads on the relevant risk-free interest rates. Spread risk relates to several types of assets: • fixed-income investments; • deposits; • savings-linked mortgage loans. | 51 | annual_report |
ScorSE-AR_2011 | 3,128 | The deferred taxes are determined on the tax rate of country in which predominantly the costs have been incurred. The tax rates applied are 35 % for adjustments that occurred in the US and 12.5 % for adjustments that occurred in Ireland. | 42 | annual_report |
2206 | 583 | SLNY held $1.90 billion and $1.60 billion in invested assets at December 31, 2003 and 2002, respectively. SLNY pursues a high-quality, well-diversified portfolio strategy that is appropriate for its general fund obligations. The investment function is a critical component of SLNY's business given the role invested assets play in supporting SLNY's product lines and the impact of investment results on profitability. | 61 | 10K |
5373 | 1,089 | The following tables summarize our financial results by operating segment for our Int’l Insurance reporting segment for the years ended December 31, 2017, 2016 and 2015: | 26 | 10K |
5631 | 476 | Sales resulted in $27 million of net realized capital losses and $110 million and $31 million of net realized capital gains in 2018, 2017 and 2016, respectively. | 27 | 10K |
2987 | 8,425 | AIC paid dividends of $1.01 billion in 2006, which was less than the maximum amount allowed under Illinois insurance law without the prior approval of the IL DOI based on 2005 formula amounts. Based on 2006 AIC statutory net income, the maximum amount of dividends AIC will be able to pay without prior IL DOI approval at a given point in time during 2007 is $4.92 billion, less dividends paid during the preceding twelve months measured at that point in time. | 81 | 10K |
4150 | 610 | Represents the total amount of other than temporary impairment losses recognized in accumulated other comprehensive income (“AOCI”) due to the adoption of the recent guidance on other than temporary impairments in 2009. Per the accounting guidance, these items were not included in earnings as of December 31, 2010. | 48 | 10K |
1108 | 500 | The operating results of the domestic individual life business are presented as Discontinued Operations. Premiums of $336.3 million, $176.7 million and $25.3 million and current and future benefits of $341.1 million, $183.9 million and $39.5 million, were assumed in 1998, 1997 and 1996, respectively. Investment income of $17.0 million, $37.5 million and $44.1 million was generated from the reinsurance loan to affiliate for the years ended December 31, 1998, 1997 and 1996, respectively. | 73 | 10K |
INGGroepNV-AR_2017 | 515 | We continuously invest in our security organisation and systems to protect our data and that of our customers. We have created a cybercrime resilience control environment designed to predict, protect against, detect, respond to and mitigate e-banking fraud, distributed denial of service (DDoS) attacks and targeted attacks. We maintain strong global alliances with the financial industry, law enforcement authorities, governments and internet service providers to jointly fight cybercrime. In September 2017, ING set up a Financial Cybercrime Expertise & Response Team (FinancialCert) with two other Dutch banks to jointly tackle cybercrime in the Netherlands and share real time information for a faster response. | 103 | annual_report |
SwissReAG-AR_2008 | 140 | Our offerings are tailored to the needs of the various participants in the agricultural sector, ranging from suppliers, growers and traders to grain processors. | 24 | annual_report |
gb_lloyds_banking_grp-AR_2015 | 1,465 | Conclusion: As part of its review of these arrangements the Committee concluded there continues to be action needed to fully implement the requirements of the Act, as detailed provisions continue to emerge, however the Group is well placed to respond to the ongoing requirements and future developments. | 47 | annual_report |
3798 | 575 | Limited partnerships. A limited partnership investment is generally written down if the Company is unable to hold or otherwise intends to sell its interest in the limited partnership at a loss, or it management has received information that suggests the Company will be unable to recover its original investment in the limited partnership. The amount written down is recorded in the change in equity interest in other long-term investments in the consolidated statement of operations. | 75 | 10K |
nl_ing_grp-AR_2013 | 5,200 | The Netherlands Non-Life portfolio also includes Property & Casualty products covering risks such as fire damage, car accidents, personal and professional liability, windstorms, hail, and third party liabilities. | 28 | annual_report |
3876 | 3,273 | Investment income on mortgage-backed securities is initially based upon yield, cash flow, and prepayment assumptions at the date of purchase. Subsequent revisions in those assumptions are recorded using the retrospective method, except for | 33 | 10K |
3878 | 3,646 | Level 2: Fair value measurements based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Assets and liabilities measured at fair value on a recurring basis and classified as Level 2 generally include certain government securities, most investment-grade and high-yield corporate bonds, certain ABS, certain listed equities, state, municipal and provincial obligations, hybrid securities, mutual fund and hedge fund investments, derivative contracts, GIAs at AIGFP and physical commodities. | 123 | 10K |
2769 | 1,115 | Net Premiums Written and Earned. Net premiums written for 2004 were $866.1 million, a $124.3 million or 16.7% increase from $741.8 million for the comparable period of 2003. Net premiums earned in 2004 were $814.6 million, a $55.0 million or 7.2% increase from $759.6 million for 2003. The net premiums earned in 2004 reflect an increase in premiums from non-traditional products, such as second-lien mortgages and NIMs. Premiums earned from non-traditional products were $125.7 million in 2004, compared to $89.5 million in 2003. During 2003 and continuing into 2004, we also experienced a change in the mix of new insurance written. The mix includes a higher percentage of non-prime business, which has higher premium rates. | 115 | 10K |
1447 | 483 | Prior to July 1, 1998, the Company, through its wholly-owned subsidiary, Arista Insurance Company, operated principally as an underwriter of New York State disability insurance to some 23,000 policyholders and 229,000 covered lives in the New York Metropolitan Area. In November 1998, effective July 1, 1998, the Company ceded its disability insurance underwriting operations to The Guardian pursuant to the Treaty and concurrently, the Registrant entered into the TPA Agreement under which the Company performs various functions as an independent administrator for all disability policies ceded to The Guardian and for other New York State statutory disability policies issued by The Guardian and other entities. (the "TPA services"). | 108 | 10K |
SwissReAG-AR_2013 | 1,113 | At the Business unit level, acceptance of life and health risks is governed by aggregated Business unit limits. Local teams can write reinsurance within their allocated capacity and clearly defined boundaries, such as per-life retention limits for individual business. | 39 | annual_report |
5802 | 1,215 | The Tax Act, which took effect on January 1, 2018, lowered the U.S. corporate income tax rate from a top marginal rate of 35% to a flat rate of 21% and changed the amount of dividends received deduction and proration. For tax years after 2017, for our property casualty insurance subsidiaries, approximately 75% of interest from tax-advantaged, fixed-maturity investments and approximately 40% of dividends from qualified equities are exempt from federal tax after applying proration. For our noninsurance companies, the dividend received deduction exempts 50% of dividends from qualified equities. | 90 | 10K |
3500 | 1,244 | The Company also bears some of the "risks and rewards" associated with the performance of those special purpose entities' assets. Specifically, as issuer of the financial guaranty insurance policy insuring a given special purpose entity's obligations, the Company bears the risk of asset performance (typically, but not always, after a significant depletion of overcollateralization, excess spread, a deductible or other credit protection). | 62 | 10K |
NatixisSA-AR_2007 | 2,145 | In 2007, interest-bearing current accounts continued to boost sales of service packages and win new customers. The S’miles customer loyalty program, launched in 2006, for which Caisse d’Epargne is the exclusive banking partner, had 3.2 million clients at the end of 2007. Caisse d’Epargne has confi rmed its position as the leading issuer of Visa cards and as secondlargest issuer for all card brands. | 64 | annual_report |
5616 | 1,500 | Segment operating revenues increased $10.9 million, or 1.9%, for the year ended December 31, 2018, as compared to the year ended December 31, 2017, primarily due to higher investment income, partially offset by lower policy fees and other income from the VA line of business. Average fixed account balances increased 9.4% and average variable account balances decreased 1.8% for the year ended December 31, 2018 as compared to the year ended December 31, 2017. | 74 | 10K |
RSAInsuranceGroupPLC-AR_2006 | 1,728 | The movement for the year in the Company’s net deferred tax position was as follows: Restated £m £m | 18 | annual_report |
4233 | 631 | As noted in the "Segment Information" section that follows, we use both net income (loss) and operating income to measure our operating results. Operating income for the years covered by this report equals net income (loss), excluding the impact of realized gains and losses on investments and the change in net unrealized gains and losses on derivatives. The rationale for excluding these items from operating income is explained in Note 14 to our consolidated financial statements. | 76 | 10K |
5204 | 904 | In the normal course of business, we enter into financing transactions, lease agreements, or other commitments. These commitments may obligate us to certain cash flows during future periods. The following table summarizes such obligations as of December 31, 2016. | 39 | 10K |
4101 | 965 | Operating income was $20.1 million, representing a decrease of $9.4 million, or 31.8%, for the year ended December 31, 2008, compared to the year ended December 31, 2007. Earnings from core product lines decreased $8.8 million, or 28.1%, for the year ended December 31, 2008, compared to the year ended December 31, 2007. Within the segment’s core product lines, service contract earnings declined $6.0 million, or 24.8%, compared to the prior year. The service contract line was unfavorably impacted by weak auto sales and higher loss ratios in certain product lines. Credit insurance earnings decreased $0.1 million, or 2.8%, compared to the prior year, while earnings from other products declined $3.3 million. The decline in other products related primarily to lower volume in the IPP line, resulting from the loss of a significant customer. | 134 | 10K |
77 | 238 | SLC's actual cash sources in 1994 exceed the previously projected 1994 cash sources, as reflected in SLC's 1993 Annual Report on Form 10-K, by approximately $13.1 million. Included in the increase in such cash sources is a $5.0 million prepayment on a note receivable, $6.5 million in income tax reimbursements for utilization of SLC's | 54 | 10K |
2941 | 1,035 | Underwriting profit (loss) of insurance segments is defined as net earned premiums less losses and LAE and other operating expenses of our two insurance segments, the Excess and Surplus Insurance segment and the Workers' Compensation Insurance segment. Our definition of underwriting profit (loss) may not be comparable to the definition of underwriting profit (loss) for other companies. We evaluate the performance of our insurance segments and allocate resources based primarily on underwriting profit (loss) of insurance segments. We believe that this is a useful measure for investors in evaluating the performance of our insurance segments because our objective is to consistently earn underwriting profits. | 104 | 10K |
ScorSE-AR_2008 | 170 | We transfer a part of our exposure to certain risks to other reinsurers through retrocession arrangements. Under these arrangements, other reinsurers assume a portion of our losses and expenses associated with losses in exchange for a portion of premiums received. When we obtain retrocession, we remain liable to our cedents for that part of the risk that is subsequently transferred to the retrocessionaire and must meet our obligation even if the retrocessionaire cannot meet its obligations to us. | 78 | annual_report |
1376 | 360 | The significant increase in the combined ratio in 1999 reflects an increase in the frequency and severity of large loss events occurring in 1999 and, to a lesser extent, adverse development on prior year recorded losses. The lower combined ratio in 1998 primarily reflects a general reduction in incurred losses caused by a decline in both the frequency and overall severity of claims, partially offset by an increase in hurricane and other weather-related catastrophe losses. | 75 | 10K |
ASRNederlandNV-AR_2015 | 1,291 | ASR Levensverzekering N.V. and another group insurance entity administer most of the post-employment benefit plans and hold the investments that are intended to cover the employee benefit obligation. These investments do not qualify as plan assets in the consolidated financial statements under IFRS. | 43 | annual_report |
PowszechnyZakladUbezpieczenSA-AR_2010 | 466 | In 2010 PZU activities focused on improving the profitability of the corporate insurance portfolio and pro-sales activities in the retail segment. | 21 | annual_report |
2920 | 1,460 | Acquisition expenses. Net acquisition expenses for the period ended December 31, 2003 were $0.2 million and were a function of the number of insurance and reinsurance contracts we entered into and the associated net premiums earned. | 36 | 10K |
2987 | 6,332 | For interest-sensitive life, annuities and other investment contracts, DAC and DSI are amortized in proportion to the incidence of the total present value of gross profits, which includes both actual | 30 | 10K |
de_allianz-AR_2012 | 3,809 | In addition, upon death of a plan participant, a change of control or notice for operational reason, the RSU vest immediately and will be exercised by the company. | 28 | annual_report |
4430 | 1,038 | In September 2011, the Board approved a strategic plan for the Company, which provided, among other things, for the repurchase of up to $600 million of the Company's common shares (the "September 2011 Authorization") through open market or negotiated purchases. The September 2011 Authorization superseded the October 2010 Authorization. Pursuant to the terms of the Alleghany Merger Agreement, the Company ceased repurchasing its common shares under the September 2011 Authorization as of November 20, 2011. In 2011, the Company repurchased 5.1 million shares of its common stock at an aggregate cost of $261.5 million. Pursuant to the terms of the Alleghany Merger Agreement, the Company is prohibited from repurchasing its common shares during the pendency of the merger. (See Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.) | 136 | 10K |
2843 | 652 | In 2005, the net decrease in unrealized investment gains and losses and foreign currency translation of $3.7 million was due to unrealized losses from fixed income securities offset by unrealized gains from equity securities and other invested assets. The net increase in unrealized investment gains and losses and foreign currency translation of $19.0 million in 2004 was due to unrealized gains from equity securities and other invested assets, partially offset by unrealized losses from fixed income securities. | 77 | 10K |
4803 | 2,907 | Investments in limited partnership interests, including interests in private equity/debt funds, real estate funds, hedge funds and tax credit funds, where the Company’s interest is so minor that it exercises virtually no influence over operating and financial policies are accounted for in accordance with the cost method of accounting; all other investments in limited partnership interests are accounted for in accordance with the equity method of accounting (“EMA”). | 68 | 10K |
de_allianz-AR_2015 | 1,676 | Internal controls over financial reporting In line with both our prudent approach to risk governance and compliance with regulatory requirements, we have created a structure to identify and mitigate the risk of material errors in our consolidated financial statements. Our internal control system over financial reporting (ICOFR) is based on the revised framework developed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in 2013 and is regularly reviewed and updated. Our approach also includes the following five interrelated components: Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring. These five components are covered by an Entity Level Control Assessment Process (ELCA), IT General Controls (ITGC) and controls at process levels. The ELCA framework contains controls such as a compliance program or committee governance structure. In the ITGC framework we implemented, for example, controls regarding access right management and project and change management controls. | 148 | annual_report |
522 | 288 | If a loss is related to a policy issued by an independent agent, the Company may proceed against the independent agent pursuant to the terms of the agency agreement. In any event, the Company may proceed | 36 | 10K |
AegonNV-AR_2014 | 5,781 | Ministry of Finance for certain existing unit-linked products. These principles were the result of an industry-wide review by the Ministry of the various agreements reached between individual insurance companies and customer interest groups in relation to unit-linked insurance policies. The Ministry made a strong appeal to all industry participants to apply these principles. As a result of this acceleration, Aegon took a one-off charge of EUR 265 million before tax in 2012. In addition, Aegon decided to reduce future policy costs for the large majority of its unit-linked portfolio. At the time of that acceleration, that decision was expected to decrease income before tax over the remaining duration of the policies by approximately EUR 125 million in aggregate, based on the present value at the time of the decision. While parties such as the Ombudsman Financiële Dienstverlening (the Netherlands financial services industry ombudsman) supported the arrangements reached with customer interest groups, the public debate over the adequacy generally of these and other arrangements, as well as discussions in the | 169 | annual_report |
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