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Annual Report 2007
Annual Report 2007 hannover re R CONTENTS 1 Boards and officers 7 Management report 8 Economic climate 8 Business development 11 Development of the individual lines of business 17 Investments 19 Human resources 22 Sustainability report 24 Risk report 31 Forecast 35 Other information 37 Proposal for the distribution of profits 38 Accounts 38 Balance sheet 42 Profit and loss account 45 Notes 71 Auditors' report 72 Report of the Supervisory Board 76 Declaration of conformity 77 Glossary KEY FIGURES of Hannover Re +/- previous in Mio. EUR 2007 2006 2005 2004 2003 year Gross written premium 6,652.6 -13.0% 7,644.6 6,340.4 6,095.2 6,539.3 Net premium earned 4,979.3 -12.4% 5,685.3 4,383.8 4,030.8 3,695.3 Underwriting result 5) (111.1) -176.3% 145.6 (95.5) (42.8) 60.7 Allocation to the equalisation reserve and similar provisions (309.1) -312.6% 145.4 228.3 232.5 301.8 Investment result 451.2 -43.6% 799.9 895.7 584.7 578.2 Pre-tax profit 438.1 +69.3% 258.7 376.1 149.1 133.2 Profit or loss for the financial year 272.0 +38.8% 196.0 374.6 120.6 114.9 Investments 18,106.1 -2.1% 18,499.7 16,699.4 13,465.3 11,670.8 Capital and reserve 2,085.83) 2,085.83) 2,085.82)3) 1,215.8 1,292.51) Equalisation reserve and similar provisions 1,406.5 -18.0% 1,715.6 1,570.3 1,342.0 1,109.5 Net technical provisions 13,286.7 +2.0% 13,022.7 12,471.9 9,844.2 8,286.7 Total capital, reserves and technical provisions 16,779.0 -0.3% 16,824.1 16,128.0 12,402.0 10,688.7 Number of employees 660 +6 654 628 599 569 Retention 73.9% 74.2% 68.3% 67.8% 56.8% Loss ratio 4)5) 80.0% 72.7% 76.7% 79.6% 80.3% Expense ratio 4) 25.2% 25.4% 26.4% 20.1% 16.1% Combined ratio 4)5) 105.2% 98.1% 103.1% 99.7% 96.4% 1) including surplus debenture (Genussrechtskapital) 2) including allocation to reserves proposed by the Annual General Meeting 3) including subordinated liabilities 4) excluding life reinsurance 5) from the 2006 financial year onwards the option of including special allocations to the provisions for outstanding claims in the non-technical account rather than the technical account will no longer be exercised. -
Annual Report 2008
Annual Report 2008 hannover re R CONTENTS 1 Boards and officers 6 Management report 6 Economic climate 7 Business development 10 Development of the individual lines of business 15 Investments 17 Human resources 20 Sustainability report 22 Risk report 28 Forecast 33 Other information 35 Accounts 36 Balance sheet 40 Profit and loss account 43 Notes 69 Auditors' report 70 Report of the Supervisory Board 74 Declaration of conformity 75 Glossary KEY FIGURES of Hannover Re +/- previous Figures in EUR million 2008 2007 2006 2005 2004 year Gross written premium 7,328.7 +10.2% 6,652.6 7,644.6 6,340.4 6,095.2 Net premium earned 5,429.4 +9.0% 4,979.3 5,685.3 4,383.8 4,030.8 Underwriting result 1) 78.9 -171.0% (111.1) 145.6 (95.5) (42.8) Allocation to the equalisation 33.6 110.9% (309.1) 145.4 228.3 232.5 reserve and similar provisions Investment result 66.9 -85.2% 451.2 799.9 895.7 584.7 Pre-tax profit (104.2) -123.8% 438.1 258.7 376.1 149.1 Profit or loss for the financial year (209.6) -177.1% 272.0 196.0 374.6 120.6 Investments 17,885.1 -1.2% 18,106.1 18,499.7 16,699.4 13,465.3 Capital and reserve 1,878.82) -9.9% 2,085.82) 2,085.82) 2,085.82)3) 1,215.8 Equalisation reserve and similar provisions 1,440.1 +2.4% 1,406.5 1,715.6 1,570.3 1,342.0 Net technical provisions 14,145.0 +6.5% 13,286.7 13,022.7 12,471.9 9,844.2 Total capital, reserves and technical provisions 17,463.9 +4.1% 16,779.0 16,824.1 16,128.0 12,402.0 Number of employees 708 +48 660 654 628 599 Retention 75.2% 73.9% 74.2% 68.3% 67.8% Loss ratio 1)4) 74.0% 80.0% 72.7% 76.7% 79.6% Expense ratio 4) 24.5% 25.2% 25.4% 26.4% 20.1% Combined ratio 1)4) 98.5% 105.2% 98.1% 103.1% 99.7% 1) including allocation to reserves proposed by the Annual General Meeting 2) including subordinated liabilities 3) excluding life reinsurance 4) from the 2006 financial year onwards the option of including special allocations to the provisions for outstanding claims in the non-technical account rather than the technical account will no longer be exercised. -
Pro Bono: Lending a Helping Hand
pro bono: lending a helping hand LEGISLATIVE WRAP-UP • SPRING MTG.JUNE 2000• NEW CIVIL CASE FINDINGS FORM1 West pickup 4/00 back cover 4C 2 GEORGIA BAR JOURNAL Editorial Board WILLIAM WALL SAPP, Editor-in-Chief JENNIFER M. DAVIS, Managing Editor LYN K. ARMSTRONG D. SCOTT MURRAY ERIKA C. BIRG MARISA ANNE PAGNATTARO CHARLES M. CORK III AMELIA TOY RUDOLPH June 2000 • Vol. 5 No. 6 O. WAYNE ELLERBEE JOHN M. SIKES JR. GEORGE W. F RYHOFER III JOHN SPANGLER III MICHAEL JABLONSKI JERRE B. SWANN JR. On the Cover: This issue is dedicated to lawyers — like Atticus Finch — ANNE R. JACOBS DIANE BETH WEINBERG who ensure access to justice for all regardless of socio-economic status. MICHELLE W. JOHNSON PAMELA Y. W HITE-COLBERT QUICK DIAL SARAJANE N. LOVE J. MICHAEL WIGGINS W. FRAY MCCORMICK Attorney Discipline ............... (800) 334-6865 ext. 720 (404) 527-8720 CHARLES R. ADAMS III, ADVISOR Consumer Assistance Program ...................................... (404) 527-8759 THEODORE H. DAVIS JR., ADVISOR Conference Room Reservations .................................... (404) 527-8712 Fee Arbitration .............................................................. (404) 527-8750 Officers of the State Bar of Georgia Continuing Legal Education Transcripts ....................... (404) 527-8710 (ex officio members) Diversity Program ......................................................... (404) 527-8754 ETHICS Hotline .................................. (800) 682-9806 (404) 527-8741 RUDOLPH N. PATTERSON, MACON Georgia Bar Foundation/IOLTA ................................... -
2021 US Auto Insurance Study
Auto Insurance Customer Satisfaction Stalls Despite $18 Billion in Premium Relief, J.D. Power Finds Weaknesses in Self-Service Communications Channels Overshadow Pandemic-Driven Refunds TROY, Mich.: 15 June 2021 — The auto insurance industry voluntarily returned more than $18 billion in auto insurance premiums to customers in 2020 to address the sharp decline in miles driven during the COVID-19 pandemic. Despite the magnitude of this historic relief effort, the J.D. Power 2021 U.S. Auto Insurance Study,SM released today, finds that overall customer satisfaction with auto insurers is flat, following four consecutive years of improvement. “What we’re seeing in this year’s study is a case of insurers delivering with their actions but missing the mark on effective communication to their customers,” said Robert Lajdziak, senior consultant for insurance intelligence at J.D. Power. “The refunds provided to customers during the pandemic were significant, representing nearly 7% of total industry premiums, but only half of customers were even aware of them. Worse, when customers needed to communicate with their insurers, either via phone, website or chat, many came away feeling less satisfied with the result than in the past.” Following are some of the key findings of the 2021 study: • Overall satisfaction stagnates: Overall customer satisfaction with auto insurance providers is 835 (on a 1,000-point scale) this year, unchanged from a year ago. This is the first time since 2017 that auto insurance customer satisfaction has not improved year over year. • Insurers miss the mark in communication: While price is the lowest-scoring factor in the study, it has seen the greatest improvement year over year. -
Baden-Baden 2019 Day 1
Insight and Intelligence on the European and International (Re)insurance Markets 20 OCTOBER 2019 SUNDAY BADEN-BADEN Reinsurers brace for squeezed returns as retro costs set to bite uropean property catastrophe Reinsurance underwriters added that Etreaty reinsurers fear a second year Key points the trend seen in the US and Japan of of squeezed returns as they face being increasingly specific pricing, with rate caught between flat inwards pricing c European loss experience has been increases strongly tied to loss-affected and steepening retrocession costs at benign and globally 2019 does not regions, risks or individual clients, is the 1 January renewal. look to have been an above-average increasingly evident within Europe. Insurers on the continent have experienced cat year Even European cedants with some losses another relatively benign year for cat events. c Hagibis, Faxai and Dorian will put are likely to argue that they have paid Globally, despite creep on Typhoon Jebi some pressure on retro capital, enough in premiums in loss-free years to losses in the first half, as well as Hurricane driving up prices justify a flat renewal rate this year, sources Dorian and typhoons Faxai and Hagibis, c Increasing retro costs plus said. 2019 does not yet appear to be an above- anticipated flat European property Reinsurers, on the other hand, are arguing average cat loss year. cat treaty rates will squeeze for increases after a decade-long downward This 2019 loss record, coupled with a long reinsurers’ returns trend in European property cat treaty benign period for cat claims in Europe and c Some cedants are starting rates which has left pricing at levels many a continued abundance of capacity, means negotiations early in a bid to lock in consider unsustainable. -
Apply for Non-Medical Life Insurance! 1-877-447-6060 • Email: [email protected]
Options Additional Benefits Included The following riders may be added onto certain policies. In addition to the non-medical life insurance coverage you are purchasing through Canada Protection Plan, you1 may be eligible for some additional benefits. Details AccidentAl deAth Benefit and criteria will be provided along with your insurance Increases the amount of coverage by 1, 3 or 5 times the face value of contract2. These include: your insurance policy to a maximum of $250,000 in the event of your 1) Competitive Scholarships accidental death. You may apply for this benefit if you are from age 25 to 65. The rider expires at age 70. There are up to 350 renewable scholarships awarded to candidates who not only have good grades but share a commitment to community service and volunteerism. child term rider You may purchase $5,000 of insurance per child at a flat rate of either In Canada you may be eligible for scholarships of up to $17.00 or $20.00. The parent must be from 20 years to 60 years of age $8,000 to high school seniors and mature students. Five at the time of issue. The coverage expires on the child’s 21st birthday Ken Peterson Awards for Community Service are also or 25th birthday if the child is a full-time student. The child must be granted annually, offering up to $11,000. between 30 days old and less than 18 years old at the time of issue. 2) Terminal Illness Loans You may be eligible to receive an interest-free loan if you hospitAl Cash rider become terminally ill. -
Application for Critical Illness Insurance
Canada Protection Plan™ Application for Critical Illness Insurance Distributed by Application Checklist To ensure priority service and to avoid delays: Ensure that all applicable questions are completed before submitting. If replacing existing insurance, please submit applicable disclosure Print legibly in dark ink. Do not use “ditto” marks. Do not draw a line forms if required in your province. through any questions or answers. If you cross out an error, each person signing the application must initial it. If premium payment is monthly by Pre-Authorized Debit (PAD), include a void cheque or complete the banking information on Note that the initial premium will be applied on the policy date, which page 5 (see sample cheque below). For monthly (PAD) payment will be the date the policy is actually issued. method, there is no premium debit for the first month. If premium payment is annual, ensure that the initial premium is paid with the application. COD applications are NOT allowed. Cheque Number Account Number Transit Number Financial Institution Number If the initial premium is to be paid by cheque, include a current dated cheque payable to Foresters Life Insurance Each Advisor MUST have a valid insurance licence and E&O on file Company with the same date as the application with Canada Protection Plan or copies must be attached to this application. If the initial premium is to be paid by credit card, the frequency of premium payments must be annual Notify your client that they may receive a verification call from the Insurer to verify the information on their application. -
Prudential Financial, Inc. Financial Strength Symposium Arial 28
PRUDENTIAL FINANCIAL, INC. DEBT INVESTORS UPDATE SEPTEMBER 2016 AGENDA Enterprise Overview U.S. and International Businesses Results and Key Drivers Capital & Liquidity Investment Portfolio 2 ENTERPRISE OVERVIEW SUPERIOR MIX OF HIGH QUALITY BUSINESSES AND RISKS June 30, 2016 Attributed Equity $34.0 Billion(1) Asset Management Individual International Annuities Insurance Individual Retirement Life Group Insurance 1) Attributed equity excluding accumulated other comprehensive income (AOCI) and impact of foreign currency exchange rate remeasurement, which is attributed to International Insurance; total includes attributed equity for Corporate and Other Operations of ($2,176) million and Closed Block Division of ($1,433) million, which are excluded from pie chart. 4 AND ROWTH(1)(2) ROE EPS G $9.84 $9.86 $8.93 15.8% $6.70 15.2% $6.25 14.2% 11.9% 11.8% Earnings Per Share ReturnROE on Equity 2011 2012 2013 2014 2015 1) Represents results of the former Financial Services Businesses (FSB) for periods prior to 2015. 2) EPS based on after-tax adjusted operating income (AOI) excluding market driven and discrete items as disclosed on page 43. ROE based on after-tax AOI excluding market driven and discrete items as disclosed on page 43; gives effect to direct equity adjustment for earnings per share calculation for periods prior to 2015. Based on average attributed equity excluding AOCI and adjusted to remove amount included for foreign currency exchange rate remeasurement. 5 FORTIFYING OUR LEADERSHIP POSITION Focus on Protection, Retirement and -
The 2001 Dallas White Rock Marathon Results
Choose Green Mountain Energy SM electricity and help clean the air. Most of us have never thought about our electricity service. If the lights work, why fuss with it, right? Well , now there is a reason. Green Mountain Energy Company, based over in Austin , offers 100% pollution-free electricity generated solely from windfarms in Texas. Buying Green Mountain EnergysM electricity gives you an easy way to help clean the air we breathe. It's just as reliable as the electricity service you get today. And we offer a 100% Switch-Back Guarantee. If you're ever unhappy with us, we 'll switch you back to your local utility absolutely free. With Green Mountain EnergysM electricity, you get: • 100% pollution-free electricity • Service just as reliable as your current service • EasyRate TM pricing: affordable, flat rates for clean electricity • Superior customer care • Our 100% Switch-Back Guarantee Call us or visit our web site today. 1-866-GREENTX (1-866-473-3689) www.greenmountain.com Green Mountain Energy•m ©2001 Green Mountain Energy Company. Green Mountain EnergySM is a service mark of Green Mountain Energy Company. I Dear Runners: I It's a whole new century, and a whole new world. How A new Presenting Sponsor, Green Mountain Energy, things have changed since our letter to you last year. Like signed on to the Marathon this year, and the events America itself, the 2001 Dallas White Rock Marathon enjoyed our largest number of sponsors ever. That support faced new challenges and made some significant changes from both our new and our long-standing sponsors will for its 32nd running. -
Canada Protection Plan™ Application for Life Insurance
Canada Protection Plan™ Application for Life Insurance Distributed by Application Checklist To ensure priority service: 1 | Ensure that all applicable questions are completed before submitting. 6 | If premium payment is monthly by Pre-Authorized Debit (PAD), Print legibly in dark ink. Do not use “ditto” marks. Do not draw a line include a void cheque or complete the banking information on through any questions or answers. Do not make erasures or use liquid page 6 (see sample cheque below). For monthly (PAD) payment paper. If you cross out an error, each person signing the application method, there is no premium debit for the first month. must initial it. 2 | Attach an illustration for each policy applied for. 3 | Submit applicable disclosure forms if replacing existing life insurance. 4 | Note that the initial premium will be applied on the policy date, which Cheque Number Account Number will be the date the policy is actually issued. Transit Number Financial Institution Number 5 | If premium payment is annual, ensure that the initial premium is paid with the application. COD applications are NOT allowed. 7 | Each Advisor MUST have a valid licence and E&O on file with If the initial premium is to be paid by cheque, include a current Canada Protection Plan or copies must be attached to this dated cheque payable to Foresters Life Insurance Company application. with the same date as the application. If the initial premium is to be paid by credit card, the frequency 8 | Notify your client that they may receive a verification call from the of premium payments must be annual. -
SECTION 1Asset Manager Profiles
SECTION 1 Asset manager profiles John Hancock USA All financial obligations under the group annuity contract are the sole obligation of John Hancock Life Insurance Company (U.S.A.). 4 John Hancock is a unit of Manulife Financial Corporation, a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States, and Manulife globally, including Canada, Asia and Europe. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. Assets under management and administration by Manulife and its subsidiaries were CAD $1.3 trillion (US $1.0 trillion ) as of March 31, 2021. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. 4 One of the largest life insurers in the United States, John Hancock supports more than 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and education savings plans. Additional information about John Hancock may be found at johnhancock.com. John Hancock Investment Management 4 John Hancock Investment Management is a Boston-based firm, focused on investment management for institutional clients. Built on investment principles developed over 35 years, John Hancock Investment Management offers a diverse selection of actively managed equity and fixed income strategies across the investment spectrum. Our strategies are managed through a disciplined investment process that seeks to provide consistently superior returns 4 The key elements of our process are: A commitment to a team approach to portfolio management; focused fundamental research and skilled portfolio construction and risk analysis. -
Preliminaries: Saturday, March 6, 2021 Finals
Preliminaries: Saturday, March 6, 2021 The Preliminaries will be held for competitors and judges only. Finals: Saturday, March 20, 2021 Live-Streamed Event - 1-5 p.m. The objective of the Denver Lyric Opera Guild is the encouragement and support of young singers and the continuing education of members in the appreciation and knowledge of opera. For more information on DLOG Membership and Member Events www.denverlyricoperaguild.org Denver Lyric Opera Guild Denver Lyric Opera Guild is a non-profit membership organization of over 180 members. DLOG was founded in 1965 to help support the Denver Lyric Opera Company. The opera company was forced to close in 1968, but the Guild pursued other programs in keeping with its purpose to encourage and support young singers and provide continuing education to the members in the appreciation and knowledge of opera. Competition for Colorado Singers In 1984, the Guild inaugurated its signature event, the Competition for Colorado Singers, to support singers ages 23-32 in pursuing their operatic careers. Since then, the Guild has awarded over $850,000 to Competition winners. Hundreds of young singers have successfully launched their operatic and musical careers since winning the Competition. Grants The Guild provides grants to Colorado’s colleges and universities for vocal scholarships, and to apprentice opera programs. Over the years, these grants have totaled over $812,000 from the earnings on our endowment. Grants are given to the voice performance programs at Colorado State University, Metro State University of Denver, University of Colorado, University of Denver, University of Northern Colorado, and young artist apprentice programs of Central City Opera, Opera Colorado, Opera Fort Collins, and Opera Theatre of the Rockies in Colorado Springs.