felanders/preprocessed huggingface dataset:
All of our properties are owned or leased by subsidiaries of The Progressive Corporation and are used for office functions (corporate, claims, and business unit), as call centers, for training, for warehouse space, or as Service Centers.
We own 92 buildings located throughout the United States. Nearly two-thirds of our owned buildings are for our Service Centers, the majority of which are combined with a claims office. Our owned facilities, which contain approximately 4.8 million square feet of space, are generally not segregated by industry segment. In addition to our corporate headquarters and another office complex and call center in Mayfield Village, Ohio, we own significant locations in Colorado Springs, Colorado; St. Petersburg, Florida; Tampa, Florida; and Tempe, Arizona.
See Note 15 - Acquisition and Note 16 - Redeemable Noncontrolling Interest in the Annual Report, which is included as Exhibit 13 to this Form 10-K, for a discussion of the acquisition of a controlling interest in ARX on April 1, 2015.
The account of the Burglary and Theft department closes very satisfactorily, the results in all territories having been normal. Of the other branches, Surety and Fidelity business has, generally speaking, proved satisfactory. Credit Insurance on the other hand has in some countries given poor results owing to economic conditions.
The Profit & Loss Account closes with a profit of . . Frs. 4,227,883.51 which the Board of Directors propose to distribute as follows: Special Reserve Fund , 800,000.— Staff Life Insurance and Pension Fund ..... „ 250,000.— Dividend Frs. 77.35 per share . . . ..... „ 2,320,500.— Directors and Management . . . . • . . . . „ 687,500.— Carried forward . . . . . .... . . . . , 169,833:51
PROFIT AND LOSS ACCOUNT for the year ending 31«' December, 1926.
Premiums for Retrocession, less cancellations ....... 109,592,129 24 Commission, less Retrocession 39,510,745 27 Claims paid Prs. 140,032,518.76 less Retrocession , 66,872,193.45 73,660,325 31 Premium Reserve, less Retrocession .......... 67,773,525 — Reserve for unsettled Claims, less Retrocession ... . . . . 33,759,258 — Reserve for extraordinary Losses . . .... . . . . . 13,000,000 — 337,295,982 82
Life DepL. Premiums for Retrocession . . . . . . . . 18,995,905 09 Commission and Expenses, less Retrocession . . . . . .. . . 3,876,451 31 Surrenders, less Retrocession . . . . . . . . . . . . . 3,194,164 66 Losses paid, less Retrocession ..... . . 4,926,155 04 Annuities paid, less Retrocession . . ..... . . . . . 500,534 97 Premium Reserve, less Retrocession. . . . . . . .. . . . 62,905,075 Annuity Fund, less Retrocession . . i . . 4,597,649 Reserve for unsettled Claims, less Retrocession ...... 1,339,944 — 100,335,879 07 Expenses of Management . 2,761,591 15 Taxes 1,300,227 94 Net Profit . . , ... . . ^ . ! ! ^ 4,227,833 51
- ' Liabilities. Capital (80,000 shares of Frs. 1000 each) . . . . . ... ; . 80,000,000 —
' Reserves: Fire, Accident, LiabRity, Burglary, Fidelity, Surety and Marine Dep^
Premium Reserve . Frs. 67,773,525.— Reserve for unsettled Claims . .... . . . . 83,759,258.- - Life Dept-
Staff Life Insurance and Pension Fund . . . . . . 250,000 — Dividend Frs. 77.35 per share . . . . . . ... . . . ..... 2,820,500 —
Mortgages • • • • • • . , 24,409,303.60 Government and other Securities . , 105,539,944.80 Life and other funds deposited with ceding Companies . , 112,641,162.27
The following selected consolidated financial data for each of the five years in the period ended December 31, 2004 have been derived from Gallagher’s Consolidated Financial Statements. Such data should be read in conjunction with Gallagher’s Consolidated Financial Statements and related notes thereto, which have been incorporated by reference in Item 8 of this annual report.
Information regarding Management’s Discussion and Analysis of Financial Condition and Results of Operations is included in Gallagher’s 2004 Financial Statements under the caption entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and is incorporated herein by reference. All of such information should be read in conjunction with Gallagher’s Consolidated Financial Statements and related notes thereto, which have been incorporated by reference in Item 8 of this annual report.
Gallagher’s Consolidated Financial Statements, the related notes thereto and Report of Independent Registered Public Accounting Firm are included in Gallagher’s 2004 Financial Statements and are incorporated herein by reference.
Information as to management’s discussion and analysis of financial condition and results of operations is incorporated by reference to the material under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the portions of the Company’s 2004 Annual Report to Shareholders set forth as Exhibit 13 hereto.
The Company’s consolidated financial statements and notes thereto, selected quarterly financial data and the Report of Independent Registered Public Accounting Firm on Financial Statements are incorporated by reference to the material under those headings in the portions of the Company’s 2004 Annual Report to Shareholders set forth as Exhibit 13 hereto.
"Selected Consolidated Financial Data" on page 6 of DHC's 1997 Annual Report to Stockholders (included as an exhibit hereto) is incorporated herein by reference.
"Management's Discussion and Analysis of Financial Condition and Results of Operations" on pages 7 through 12 of DHC's 1997 Annual Report to Stockholders (included as an exhibit hereto) is incorporated herein by reference.
The information required by this Item is included on page 39 of the Registrant's Annual Report to Shareholders for the year ended December 31, 1998, under the caption "Selected Financial Data" and is incorporated herein by reference.
The information required by this Item is included on pages 18-22 of the Registrant's Annual Report to Shareholders for the year ended December 31, 1998 under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" and is incorporated herein by reference.
SELECTED FINANCIAL DATA. - ------- ------------------------ The "Selected Consolidated Financial Data" section from the Company's annual report to stockholders for the year ended December 31, 1997, which is included as Exhibit (13)(A) to this Form 10-K Report, is incorporated herein by reference.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION - ------ ----------------------------------------------------------- AND RESULTS OF OPERATIONS. - ------------------------- The "Management's Discussion and Analysis of Results of Operations and Financial Condition" section from the Company's annual report to stockholders for the year ended December 31, 1997, which is included as Exhibit (13)(B) to this Form 10-K Report, is incorporated herein by reference.
CFC-I also owns the Fairfield Executive Center which is located on the northwest corner of the home office property in Fairfield, Ohio. This is a four-story office building containing approximately 103,000 rentable square feet. CFC and its subsidiaries occupy approximately 91% of the building and unaffiliated tenants occupy approximately 9% of the building. The property is carried in the financial statements at $9,890,539 as of December 31, 1998.
This information is included in the Annual Report of the Registrant to its shareholders on pages 16 through 22 for the year ended December 31, 1998 and is incorporated herein by reference (see Exhibit 13 to this filing).
(a) Financial Statements The following consolidated financial statements of the Registrant and its subsidiaries, included in the Annual Report of the Registrant to its shareholders on pages 23 to 35 for the year ended December 31, 1998, are incorporated herein by reference (see Exhibit 13 to this filing).
Independent Auditors' Report Consolidated Balance Sheets--December 31, 1998 and 1997 Consolidated Statements of Income--Years ended December 31, 1998, 1997, and 1996 Consolidated Statements of Shareholders' Equity--Years ended December 31, 1998, 1997, and 1996 Consolidated Statements of Cash Flows--Years ended December 31, 1998, 1997, and 1996. Notes to Consolidated Financial Statements
(b) Supplementary Data Selected quarterly financial data, included in the Annual Report of the Registrant to its shareholders on page 22 for the year ended December 31, 1998, is incorporated herein by reference (see Exhibit 13 to this filing).
CT&T leases about 282,000 square feet for the headquarters and operations of Chicago Title, CT&T and CTI in the Chicago Title and Trust Center, a 49-story office complex at 171 North Clark Street in Chicago, Illinois. Of this space, about 45,000 square feet is subleased to CT&T's former subsidiary, The Chicago Trust Company.
Ticor Title's and Security Union's headquarters are in leased premises of about 45,000 square feet in Pasadena, California. Chicago Title and its subsidiaries own or lease buildings or office space in approximately 600 locations throughout the United States, primarily for CTI, Security Union and Ticor Title full-service and satellite branch office operations.
The information required by this Item 6 is incorporated by reference from page 20 of Chicago Title's Annual Report to Stockholders for the year 1998, filed as Exhibit 13 hereto.
The information required by this Item 7 is incorporated by reference from pages 22 through 30 of Chicago Title's Annual Report to Stockholders for the year 1998, filed as Exhibit 13 hereto.
We own 40 buildings and lease another 13 to provide concierge-level claims service at various locations throughout the United States. In addition, our facility in Tempe, Arizona is also partially used as a claims service center. In total, these additional buildings contain approximately .8 million square feet.
We lease approximately 1.2 million square feet of office and warehouse space at various locations throughout the United States for our business units and corporate functions. In addition, we lease approximately 460 claims offices, consisting of approximately 3.3 million square feet, at various locations throughout the United States. These leases are generally short-term to medium-term leases of standard commercial office space.
Information under the caption "Financial Highlights" on page 2 of the Company's 1995 Annual Report to Shareholders is incorporated herein by reference.
Information under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" on pages 18-22 of the Company's 1995 Annual Report to Shareholders is incorporated herein by reference.
The financial statements and notes appear on pages 16-39 in the Annual Report to the Stockholders for the year ended December 31, 2009 and are incorporated herein by reference. See Part IV, Item 15.
The Registrant owns no real property and no tangible personal property used in the operation of its business except office supplies and forms. The Registrant does, however, own real property for investment purposes as outlined under ITEM 1 - INVESTMENTS. The executive and administrative offices of the Registrant are located in the headquarters office of Erie Insurance Group in Erie, Pennsylvania. The Registrant pays other members of the group an amount determined by an arm's length agreement for office space and for the use of facilities, equipment and services.
The information set forth on pages 11 through 18 of the Company's 1996 Annual Report is incorporated herein by reference.
Our net loss of $41,010 for the year ended December 31, 2010 was an increase of $24,901 more than that of $16,109 in the year ended December 31, 2009. The principal reason for the increase was an incline in General and Administrative expenses, primarily professional fees, in 2010 compared with the previous year in 2009.
Our home office complex is located in Northbrook, Illinois. As of January 31, 2002, the complex consists of several buildings totaling approximately 2.35 million square feet of office space on a 250-acre site. We lease approximately 320,000 square feet of this office space.
The consolidated financial statements of The Allstate Corporation, including the notes to such statements, beginning on page C-57 of Appendix C to the Proxy Statement are incorporated in this Item 8 by reference. Quarterly results are discussed in Note 20 on page C-109.
Not applicable. Markel Holdings, Inc. was incorporated in August 1999. During the year ended December 31, 1999, it had no operations other than costs to organize the Company. At December 31, 1999 and the date hereof, it had no material properties or assets.
See Item 1 Business. Markel Holdings, Inc. was incorporated in August 1999. During the year ended December 31, 1999, it had no operations other than costs to organize the Company. At December 31, 1999 and the date hereof, it had no material properties or assets.
The financial statements listed in Item 14 are filed in response to this item.
We own six office buildings consisting of an aggregate of approximately 625,000 square feet of space. Our headquarters are located in Downers Grove, Illinois and our other five offices are located in West Sacramento, California; Houston, Texas; Pittsburgh, Pennsylvania; Tucson, Arizona; and Scottsdale, Arizona. Additionally, we lease significant office space in Salt Lake City, Utah; San Diego, California; Milwaukee, Wisconsin; Richmond Virginia; Tampa, Florida; and Boise, Idaho. We also have numerous smaller leased facilities throughout the nation.
All of our buildings and equipment are being utilized, have been maintained adequately and are in good operating condition. These assets, together with planned capital expenditures, are expected to meet our operating needs in the foreseeable future.
The information required by this item is set forth under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our 2001 Annual Report to Stockholders and is incorporated herein by reference.
Consolidated Statements of Comprehensive Income for the Years Ended December 31, 1999, 2000 and 2001 37
Selected Financial Data Selected Consolidated Financial Data, which appears on page 27 in the 1998 Annual Report, are incorporated herein by reference.
The headquarters for the Company, GGS Holdings and Pafco are located at 4720 Kingsway Drive, Indianapolis, Indiana. The building is an 80,000 square foot multilevel structure approximately 50% of which is utilized by Pafco. The remaining space is leased to third parties at a price of approximately $10 per square foot.
IGF owns a 17,500 square foot office building located at 2882 106th Street, Des Moines, Iowa which serves as its corporate headquarters. The building is fully occupied by IGF. IGF also owns certain improved commercial property which is adjacent to its corporate headquarters.
The data included on pages 4 and 5 of the 1996 Annual Report, included as Exhibit 13, under "Selected Financial Data" is incorporated herein by reference.
TSM owns a seven story (including the basement floor) building located at 1441 F.D. Roosevelt Avenue, in San Juan, Puerto Rico where the main offices of TSM, TSI and ISI are located, and two adjacent buildings, one that houses TCI and certain offices of TSI, and the adjoining parking lot. In addition, TSM is the owner of five floors of a fifteen-story building located at 1510 F.D. Roosevelt Avenue, in Guaynabo, Puerto Rico. These floors house the Internal Auditing Office of TSM, SVTS, STS and some divisions of TSI. The Corporation is planning the construction, on land already owned, of a new five-floor building that will basically house the operations of some divisions of TSI and STS and the operations of ISI, including its mainframe facilities. ISI’s mainframe facilities are currently located in a leased property that will be vacated once the project is completed. In addition, as part of this project the Corporation is also planning the construction of a multi-level parking building which will add approximately 500 parking spaces. The cost of this project is estimated to be approximately $22.0 million. This project is expected to be completed during 2006.
TSM believes that the facilities of the Corporation are in good condition and that the facilities, together with anticipated capital improvements and additions, are adequate to meet its operating needs for the foreseeable future. The need for expansion, upgrading and refurbishment of facilities is continually evaluated in order to remain competitive and to take advantage of market opportunities.
The information required by this item is incorporated by reference to the section “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Corporation’s Annual Report.
The following table sets forth certain selected historical consolidated financial data. The selected income statement data for each of the years in the three year period ended December 31, 2001 and balance sheet data as of December 31, 2001 and 2000 have been derived from our consolidated financial statements and related notes, included elsewhere in this Form 10-K and should be read in conjunction with those financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations, also included elsewhere in this Form 10-K. The following selected income statement data for the years ended December 31, 1998 and 1997 and balance sheet data as of December 31, 1999, 1998 and 1997 have been derived from our consolidated financial statements not included herein. The following selected consolidated financial data has been prepared in accordance with GAAP, except that the statutory data presented below has been prepared in accordance with applicable statutory accounting practices and was taken from our annual statements filed with insurance regulatory authorities. Certain reclassifications to prior periods have been made to conform to the current period presentations.
The Company's Financial Statements and Supplementary Data, which are included in Exhibit 13 to this Form 10-K, are incorporated herein by reference.
Principal properties of the Company and its subsidiaries include home offices located in Louisville, Kentucky (Commonwealth Life) and Valley Forge, Pennsylvania (National Liberty and Providian Auto and Home Insurance), which are owned; and Louisville, Kentucky (Providian Corporation), Durham, North Carolina (Peoples Security and Capital Security) and San Francisco and Pleasanton, California (Providian Bancorp), which are leased.
Consolidated Results and Analysis on pages 18 and 19, Results by Business Segment on pages 21 through 30, Asset Liability Management and Review on pages 30 through 36 and Liquidity and Capital Resources and Inflation on pages 36 and 37 of the Annual Report for the year ended December 31, 1995, are incorporated by reference.
The information required by Item 6 is incorporated herein by reference to the section entitled "Six Year Financial Summary" on page 21 of the Company's 1998 Annual Report to Shareholders.
The information required by Item 7 is incorporated herein by reference to the section entitled "Management's Discussion and Analysis" on pages 22 through 28 of the Company's 1998 Annual Report to Shareholders.
PROPERTIES. - ------- ----------- The buildings which house the headquarters of Harleysville Group and the Mutual Company are leased by the Mutual Company from a subsidiary of Harleysville Group. See "Business-Relationship with the Mutual Company." The Mutual Company charges Harleysville Group for an appropriate portion of the rent under an intercompany allocation agreement. The buildings containing the headquarters of Harleysville Group and the Mutual Company have approximately 220,000 square feet of office space. Harleysville Group also rents office facilities in certain of the states in which it does business.
SELECTED FINANCIAL DATA. - ------- ------------------------ The "Selected Consolidated Financial Data" section from the Company's annual report to stockholders for the year ended December 31, 2000, which is included as Exhibit (13)(A) to this Form 10-K Report, is incorporated herein by reference.
countries. For additional information concerning leases and property, see Notes 1(H) and 15 to CIGNA's 1993 Consolidated Financial Statements, which are incorporated herein by reference from pages 35 and 46, respectively, of CIGNA's 1993 Annual Report. This paragraph does not include information on investment properties.
The five-year financial information under the caption "Highlights" on page 1 of CIGNA's 1993 Annual Report is incorporated by reference.
The information on pages 14 through 29 of CIGNA's 1993 Annual Report is incorporated by reference.
CIGNA's Consolidated Financial Statements on pages 30 through 49 and the report of its independent accountants on page 50 of CIGNA's 1993 Annual Report are incorporated by reference, as is the unaudited information set forth under the caption "Quarterly Financial Data--Consolidated Results" on page 51.
Selected Consolidated Financial Data, which appears on page 27 in the 1999 Annual Report, are incorporated herein by reference.
Management's Discussion and Analysis of Financial Condition and Results of Operations, which appears beginning on page 28 in the 1999 Annual Report, is incorporated herein by reference.
RGA Reinsurance houses its employees and the majority of RGA's officers in 71,994 square feet of office space at 660 Mason Ridge Center Drive, St. Louis County, Missouri. These premises are leased from General American for an initial term ending August 31, 1998, at an annual rent of $1,538,872 plus a pro-rated share of increases in taxes and operating expenses for the building beyond the levels of 1995. A portion of this office space is subleased to subsidiaries, Re Partners and RGA/Swiss Financial Group, L.L.C.
Manantial conducts business from approximately 15,200 square feet of office space in Buenos Aires, Argentina, pursuant to several leases. Rental expense paid for the office was approximately $182,500 during 1997. BHIF America and RGA Chile conduct business from approximately 4,700 square feet of office space in Santiago, Chile. The lease expense paid during 1997 was approximately $48,800. Three of the Buenos Aires leases expire in 1999 with the remaining lease expiring in 2000. The Santiago lease expires in April 1999.
RGA Canada's operations are conducted from approximately 9,800 square feet of office space located in Montreal, Canada. The lease with respect to such space expires in 2010. Rental expenses paid by RGA Canada under the lease during 1997 were approximately $205,000. RGA Canada also sub-leases approximately 800 square
feet of space in Montreal, Canada. The sub-lease expires in 2000. The rental expenses paid by RGA Canada under the sub-lease during 1997 were approximately $13,000. RGA Canada also leases approximately 5,900 square feet of space in Toronto, Canada. This lease expires in 2005. The rental expenses paid by RGA Canada under the Toronto lease during 1997 were approximately $122,000. RGA International conducts operations from approximately 4,200 square feet of office space located in Toronto, Canada. The lease with respect to such space expires in 2009. The rental expenses paid by RGA International under the lease during 1997 were approximately $32,000.
Great Rivers Reinsurance Management conducts business from approximately 5,900 square feet of office space located in St. Louis, Missouri. The rental expenses paid for the office were approximately $110,000 during 1997. This lease expires in March 2002. RGA UK Underwriting conducts business from approximately 1,200 square feet of office space located in London, England. The rental expenses paid for the office were approximately $43,000. This lease expires in March 2003.
This discussion and analysis is incorporated by reference to the Annual Report for 1997 under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations."
This information is incorporated by reference to the Annual Report for 1997 under the following captions:
Management of the Company believes that the Company's properties and the properties which it leases are in good condition and are suitable and adequate for the Company's current business operations.
The information required by this Item is included on page 36 of the Registrant's Annual Report to Stockholders for the year ended December 31, 1997, under the caption "Selected Financial Data" and is incorporated herein by reference.
The information required by this item is included on pages 37-71 of the Registrant's Annual Report to Stockholders for the year ended December 31, 1997, under the captions "Report of Ernst & Young LLP, Independent Auditors," "Consolidated Statements of Financial Condition," "Consolidated Statements of Income," "Consolidated Statements of Stockholders' Equity," "Consolidated Statements of Cash Flows," and "Notes to Consolidated Financial Statements," and is incorporated herein by reference.
The Registrant owns or leases approximately 2,553 automobiles which are used by the Registrant's field adjusters and certain of its management personnel in the United States and Canada. Additional vehicles are owned or leased by the Registrant's foreign subsidiaries for use by field and management personnel.
The information required by this Item is included on page 39 of the Registrant's Annual Report to Shareholders for the year ended December 31, 1996, under the caption "Selected Financial Data" and is incorporated herein by reference.
The information required by this Item is included on pages 23-41 of the Registrant's Annual Report to Shareholders for the year ended December 31, 1996 under the captions "Consolidated Statements of Income", "Consolidated Balance Sheets", "Consolidated Statements of Shareholders' Investment", "Consolidated Statements of Cash Flows", "Notes to Consolidated Financial Statements", and "Quarterly Financial Data", and is incorporated herein by reference.
Life DepL. Premium Reserve from 1918 Annuity Fund from 1918 Reserve for unsettled Claims from 1918 . Premiums, less cancellations Consideration for Annuities Interest . Interest, after deduction of interest due to Life Dept-
Premiums for Retrocession, less cancellations Commissions, less Retrocession Claims paid Frs. 50,682,228. less Retrocession , 23,198,893.76 Premium Reserve, less Retrocession Reserve for unsettled Claims Reserve for extraordinary Losses . . . . . . ... . . .
Life DepL. Premiums for Retrocession . Retrocession of Annuities Commissions and Expenses, less Retrocession Surrenders, less Retrocession Losses paid, less Retrocession Annuities paid, less Retrocession . . . . . . Premium Reserve, less Retrocession . . . .: . Annuity Fund, less Retrocession Reserve for unsettled Claims, less Retrocession Expenses of Management . . Taxes Written off for depreciation of Investments . . . Net Profit
Foreign currencies in the Profit and Loss Account and Balance Sheet for all Departments other than the Life Department have been converted into Swiss Francs at the average rale of exchange for the month of December 1919, excep­ ting the Pound Sterling for which the normal rate of 25 francs to the Pound Sterling has been maintained. The Results of all Departments have been con­ verted into Swiss Francs at the average rate of exchange for December 1919.
Capital (10,000 shares of Frs. 2000 each) . , . . . . Reserve Fund / . . . Special Reserve Fund .......... . . . . () . . . . Due to other Companies and Banks . . . . . Life and other funds deposited by ceding Companies . . . , . . . . Sundry Creditors . . Reserves: Fire, Liability, Accident, Burglary, Fidelity, Surety and Marine Dep^Premium Reserve Reserve for unsettled Claims . Reserve for extraordinary Losses
Distribution of Profit; „ 250,000. — Staff Insurance and Pension Fund. „ 1,500,000. — Dividends. „ 325,000. — Directors and Management. , 33,823.54. Balance carried to next year's account.
Board of Directors: Ch. Simon, Chairman. E. Welti, Deputy-Chairman. W. C. Eschar.
Refer to the Selected Financial Data on pages 66 through 67 of the 2012 Annual Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein.
Refer to the consolidated financial statements and supplementary data included on pages 31 through 65, of the 2012 Annual Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein. (See also Index to Financial Statement Schedules on page 48).
Unitrin's subsidiary, United, owns the 41-story office building at One East Wacker Drive, Chicago, Illinois, that houses the executive offices of Unitrin and United. Unitrin and United occupy approximately 172,000 square feet of the 527,000 rentable square feet in the building. Unitrin's subsidiary, Milwaukee Insurance Group, Inc., owns a two-story office building in downtown Milwaukee, Wisconsin, consisting of approximately 132,000 square feet, which houses the Property and Casualty Group's northern regional office. In addition, the Life and Health Group occupies approximately 227,000 square feet in 33 Company-owned buildings located in 15 states.
The properties described are in good condition and suitable for all presently anticipated requirements of the Company.
Selected consolidated financial data for the five years ended December 31, 1996 is incorporated herein by reference to the data captioned "Financial Highlights" on page 1 of Unitrin's 1996 Annual Report, which data are filed as Exhibit 13.3 hereto.
The MD&A is incorporated herein by reference to Exhibit 13.2 hereto.
Fire, Marine, Accident and Bnrglary Dept. Premium Reserve from 1900 Reserve for outstanding losses from 1900 ... Net premiums
Life Dept. Surrenders Retrocession Premiums ... ... Retrocession on annuities ... Commissions and expenses ... Losses paid, less retrocession Annuities paid Premium Reserve Annuity Fund Reserve for outstanding losses Expenses of management Taxes Net profit
Assets. Shareholders ' House Property ........ Mortgages Government securities and Bonds
(Market value on Slst December, 1901: Fr. 8,547,597.35) Deposits bearing interest... Cash in Bank ... Cash in Hand ...
Due by other Companies Due for Premium Reserve, Life Dep*Sundry debitors Accrued interest
Financial position of the Company CAPITAL fully subscribed (25 o/o paid) . . .... . . . Frs. 10,000,000.—
RESERVE FUND „ 1,000,000.SPECIAL RESERVE FUND . FIRE, Accident, Liability, Burglary, Fidelity,
Surety and Marine Dep^. Premium Reserve ........ Frs. 22,255,824. — Reserve for outstanding Losses .... „ 18,195,063. — Reserve for extraordinary Losses .
PROFIT AND LOSS ACCOUNT for the year ending 31®* December, 1916.
Premiums for Retrocession, less cancellations Commissions, less Retrocession Losses paid . Prs. 32,237,655.39 less Retrocession ......... . 14,625,603.31 Premium Reserve Reserve for outstanding Losses Reserve for extraordinary Losses
Life DepL. Premiums for Retrocession •. . .• . . . . . Commissions and Expenses, less Retrocession Surrenders, less Retrocession Losses paid, less Retrocession Annuities paid, less Retrocession Premium Reserve, less Retrocession. . . . . Annuity Fund, less Retrocession . . . . . . Reserve for outstanding Losses, less Retrocession Expenses of Management Taxes Written off Investments and House Property . . . Net Profit
Shareholders' Liability i ....... 7,500,000 :— House Property Frs. 2,000,000.— Mortgages . . , 39,701,400.— Government and other Securities , 30,900,977.65 Life and other funds deposited with ceding Companies , 48,171,555.75 Cash with Bankers „ 4,257,840.50 Cash in hand 29,018.49 125,060,792 39
Due by other Companies and Sundry Debtors .... 20,579,913 76 Accrued Interest ..:... 920,199 64
Financial Highlights on the inside front cover of the Company's 1996 Annual Report to Shareholders is incorporated herein by reference.
Management's Discussion and Analysis of Financial Condition and Results of Operations on pages 24 through 30 of the 1996 Annual Report to Stockholders is incorporated herein by reference.
We and our insurance subsidiaries share administrative headquarters with Donegal Mutual in a building in Marietta, Pennsylvania that Donegal Mutual owns. Donegal Mutual charges us and our insurance subsidiaries for an appropriate portion of the building expenses under an inter-company allocation agreement. The Marietta headquarters has approximately 230,000 square feet of office space. Southern owns a facility of approximately 10,000 square feet in Glen Allen, Virginia. Le Mars owns a facility of approximately 25,500 square feet in Le
We incorporate the response to this Item by reference to pages 10 through 19 of our 2010 Annual Report.
We incorporate the response to this Item by reference to pages 8 through 43 of our 2010 Annual Report.
The Selected Financial Data are contained in the Registrant's 1997 Annual Report to Stockholders under the heading "Selected Financial Data," which is incorporated herein by reference.
The Management's Discussion and Analysis of Financial Condition and Results of Operations are contained in the Registrant's 1997 Annual Report to Stockholders under the heading "Management's Discussion and Analysis," which is incorporated herein by reference.
Our Company has developed a semantic search engine called iGlue. which works by organizing content through the context of our user’s internet search. We have successfully launched our product and are currently marketing iGlue internationally through our website located at http://www.iglue.com.
Although we have launched our product, we are currently in a development stage. At this time, we are internationally marketing our technology and have not generated any revenue to date.
Net loss for year ended December 31, 2012, was $(7,664,922) or loss per share of $(0.66) as compared to $(632,584) or loss per share of $(0.46), for the comparable year ended December 31, 2011.
Net cash obtained through all financing activities for the year ended December 31, 2012 was $138,899 as compared to $609,907 for the year ended December 31, 2011. The decrease indicated the Company’s inability to raise additional funding from investors.
The Company will require additional funding to finance the growth of its current and expected future operations as well as to achieve its strategic objectives. The Company believes its current available cash along with anticipated revenues and financing may be insufficient to meet its cash needs for the near future. There can be no assurance that financing will be available in amounts or terms acceptable to the Company, if at all, in 2013.
During the year ended December 31, 2012, there was a total of $138,899 received from private placements, and there were no proceeds received from the exercise of stock options. Private placements related to proceeds from six non-affiliated individuals during the first six months of 2012. The total amount comprised of 116,275 pieces of shares at $1 per share and 11,312 pieces of shares at $2 per share.
In accordance with the provisions of Staff Accounting Bulletin (“SAB”) No. 101, Revenue Recognition, as amended by SAB 104, revenues are generally recognized when products are shipped or as services are performed. However, due to the nature of our business, there are additional steps in the revenue recognition process, as described below:
We have four Common Stock purchase warrants each with a term of five years after their issuance date and an exercise price of $5.00, $7.00, $9.00 and $10.00 per share, respectively. Each Warrant entitles the Holder to purchase from the Company up to 1,000,000 Warrant Shares. As of December 31, 2012, we have four Warrants outstanding that are exercisable for an aggregate of up to 4,500,000 shares of our Common Stock.
The executive and general offices of the Registrant and its subsidiaries, consisting of approximately 22,915 square feet, are located at 100 Fortune Parkway, Jacksonville, Florida. The space is leased by the Registrant for a period ending January 31, 1997, at an initial aggregate annual rental of $179,195 increasing to $202,110. The Registrant also leases a retail mobile home sales facility in Jacksonville, Florida, at an annual rental totaling approximately $16,800.
The Registrant's subsidiaries, Fortune Insurance Company and Fortune Life Insurance Company own property in Jacksonville, Florida for which there are no definite plans for development at this time. Fortune Insurance Company purchased land in 1987 and 1986 for $165,000 and $140,000 respectively. During 1982, Fortune Life Insurance Company purchased land and a building for $88,000.
Earnings per share and cash dividends per share amounts have been changed to conform with the stock splits discussed in Note 11.
Total assets at year end amounts have been restated to conform with the new accounting standard for accounting and reporting for reinsurance.
Total consolidated revenues of $52,925,874 for 1995 increased 21% from consolidated revenues of $43,767,330 for 1994.
Total consolidated expenses of $44,340,175 for 1995 increased 15% from consolidated expenses of $38,514,858 for 1994.
Loss and loss adjustment expenses increased 16% as a result of increases in losses assumed from the state mandated assigned risk pools and reserve strengthening of the Registrant's voluntary business as indicated by actuarial reviews of the automobile segment's loss trending patterns. Policy acquisition costs decreased as a result of reduced commissions allowed to the producers of the Company's automobile business together with increased ceding commissions received on the increased premiums written during the year.
The substantial increase in net realized gains in 1994 resulted primarily from the opportunity to dispose of appreciated equity securities.
The increasing loss and loss adjustment expense experienced on the business which the company originates and cedes to reinsurers may also adversely affect the Company's profitability in the future. If the Company's ratio of loss and loss adjustment expense to earned premium does not improve or should continue to deteriorate, it is likely that over time the Company's cost of reinsurance would increase, and it is possible that the Company could not obtain reinsurance on economically viable terms.
Funds generated from operations have continued to provide a very favorable cash flow. Liquidity remains adequate enough to position the Company for market opportunities.
Board of Directors: E. HUrlimann, Chairman. Hans Sulzer, Deputy-Chairman. Max Huber Felix Calender tfU-. •>' , C. J. Abegg
The devaluation of a number of currencies, as well as the continued uncertainty con­ cerning our business in various major territories, foreshadowed a reduction in Premium Income. Indeed, the Gross Premiums for the year declined from 344 million francs to 801 millions, in round figures.
The experience in Fire insurance was more favourable than in the previous year, however, business from Switzerland and the United States again showed heavy losses.
In Third Party Liability insurance the resumption of automobile traffic brought an increase in premiums. The experience was unfavourable, chiefly owing to the general rise in prices.
Sickness insurance has considerably diminished in volume following the elimination of one important territory; the account closed with a small profit.
Life DepL. Premium Reserve from 1944 .... Annuity Fund from 1944 Reserve for Unsettled Claims from 1944 Premiums, less cancellations .... Consideration for Annuities .... Interest . .
Life DepL. Premiums for Retrocession ' . Commission, less Retrocession . Surrenders, less Retrocession Losses paid, less Retrocession Annuities paid, less Retrocession. . . . . . Premium Reserve, less Retrocession Annuity Fund, less Retrocession Reserve for Unsettled Claims, less Retrocession
Life Dep^ Premium Reserve Frs. 362,865,456.— Annuity Fund , 7,113,515. Reserve for Unsettled Claims , 8,234,978. — 377,713,949 —
Assets. Shareholders' Liability 34,800,000 — Real Estate , Frs. 6,830,000.— Mortgages , , 18,606,341.22 Government and other Securities . , 283,682,978. 68 Life and other funds deposited with ceding Companies . , 449,467,673.28 Bank Balances , 34,600,764.65 Cash in hand . , 315,703.18 793,503,461 01 Due by other Companies 86,007,504 67 Sundry Debtors ...... . . . . . . . . . 532,397 28 Accrued Interest . . . . . . . . 1,422,183 44
By order of the Board: E. Bebler P. Alther E. Froelich
The home office facilities consist of two adjacent and connected buildings owned by American Indemnity with an aggregate of 152,000 square feet located in the business section of Galveston, Texas. The Company's home office facilities are 99.9% occupied by the Company and 0.1% leased to other parties. All other facilities of the Company consist of a total of five service offices in three states that are leased by American Indemnity for terms of one to five years. The Company believes that its leased and owned properties are adequate for its current needs.
The information set forth under the caption "Five Year Comparative Summary of Selected Financial Data" in the Annual Report is incorporated herein by reference.
The information set forth under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Annual Report is incorporated herein by reference.
The information set forth under the captions "Consolidated Balance Sheets", "Consolidated Statements of Income", "Consolidated Statements of Cash Flows", "Consolidated Statements of Stockholders' Equity", "Notes to Consolidated Financial Statements", "Independent Auditors' Report" and "Selected Quarterly Financial Data" in the Annual Report is incorporated herein by reference.
As of December 31, 1996, the company owned or leased the following facilities which the company considers material to its operations:
The selected consolidated financial data appears on page 22 of the 1996 Annual Report to Shareholders and is incorporated herein by reference.
The Management's Discussion and Analysis of Financial Condition and Results of Operations on pages 23 through 31 of the 1996 Annual Report to Shareholders is hereby incorporated by reference.
The Consolidated Financial Statements and Notes to Consolidated Financial Statements appearing on pages 32 through 52 together with the report thereon of Price Waterhouse LLP on page 53 of the 1996 Annual Report to Shareholders is hereby incorporated by reference.
The information required by this item is set forth under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's 1999 Annual Report to Stockholders and is incorporated herein by reference.
Consolidated Statements of Comprehensive Income for the Years Ended December 31, 1997, 1998 and 1999 33
Consolidated Statements of Cash Flows for the Years Ended December 31, 1997, 1998 and 1999 34-35
CFC-I owns a fully leased 85,000 square feet office building in downtown Cincinnati that is currently leased to Procter and Gamble Company, an unaffiliated company, on a net, net, net lease basis. This property is carried in the financial statements at $535,000 as of December 31, 1997.
CFC-I also owns the Home Office building located on 75 acres of land in Fairfield, Ohio. This building contains approximately 380,000 square feet. The John J. and Thomas R. Schiff & Company, an affiliated company, occupies approximately 5,350 square feet, and the balance of the building is occupied by CFC and its subsidiaries. The property is carried in the financial statements at $10,724,475 as of December 31, 1997.
The CLIC owns a four-story office building in the Tri-County area of Cincinnati containing approximately 127,000 square feet. At the present time, 100% of the building is currently being leased by an unaffiliated tenant. This property is carried in the financial statements at $4,010,201 as of December 31, 1997.
MAIN OFFICES. The main office of the Company, Liberty Life and Cosmos is located on a 30-acre tract in Greenville, S. C. and consists of three buildings totalling approximately 360,000 square feet plus parking. The main office facilities are owned by the Company and Liberty Life, a wholly owned subsidiary of the Company. Liberty Life also owns three branch office buildings located in various cities in South Carolina and Kentucky and leases branch office space in various cities. Leases are normally made for terms of one to ten years.
Cosmos owns its television broadcast studios, office buildings and transmitter sites in Columbia, SC; Montgomery, AL; Toledo, OH; Louisville, KY; Evansville, IN; Jonesboro, AR; and Lake Charles, LA.
The following properties are owned by the Company or a wholly owned subsidiary.
Park Avenue Associates, Inc., a wholly owned subsidiary of Liberty Life, has a 60% interest as General Partner of Tanyard Creek Partnership. The partnership owns a 49,500 square foot office building.
Greensboro Holdings, Inc., a wholly owned subsidiary of Liberty Life, owns the mortgage loans which funded the sales of a hotel and a parking deck in Greensboro, NC.
(A)(1) AND (2). LIST OF FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULES
The following consolidated financial statements of The Liberty Corporation and Subsidiaries are included in the Company's Annual Report to Shareholders for the year ended December 31, 1993, filed as Exhibit 13 to this report and incorporated in
The following table sets forth information about the Registrant's principal properties:
(1) This lease terminates in 2004. (2) This lease terminates in 1999. (3) This lease terminates in 1996. (4) These leases terminate in 1998. (5) This lease terminates in 2000.
Selected financial data have been included on Page 18 of the Registrant's Annual Report to Stockholders for the year ended December 31, 1995, and such information is incorporated herein by reference.