felanders/preprocessed huggingface dataset:
Approximately 27,406 square feet occupying a portion of the 1st, 2nd, 9th and 10th floors and all of the 11th, 12th, 13th and 14th floors. The term of the lease is from June 1, 1996 through May 31, 1999.
The Company also leases 200 square feet of office space in Las Vegas, Nevada. the term of the lease is from November 1, 1996 to October 31, 1999.
Capitol Transamerica Corporation (the "Company") is an insurance holding company operating in 36 states which writes, through its subsidiaries, both property- casualty and fidelity-surety insurance. The property-casualty segment accounts for approximately 75% of the business written while the fidelity-surety segement accounts for approximately 25% of the Company's business.
Premiums earned are recognized as net revenues after reduction for reinsurance ceded and after establishment of the provision for the pro rata unearned portion of premiums written. Net premiums earned in 1996 totaled $77,347,319, compared with $63,865,500 and $52,461,456 in 1995 and 1994, respectively. The net unearn- ed premium reserve was $43,258,833, $31,555,728 and $26,794,249 at each year- end.
Liquidity refers to the Company's ability to meet obligations as they become due. The obligations and cash outflow of the Company include claim settlements, acquisition and administrative expenses, investment purchases and dividends to shareholders. In addition to satisfying obligations and cash outflow through premium collections, there is cash inflow obtained from interest and dividend income, maturities and sales of investments. Because cash inflow from premiums is received in advance of cash outflow required to settle claims, the Company accumulates funds which it invests pending liquidity requirements. Therefore, investments represent the majority (80.7% in 1996, 84.4% in 1995 and 82.1% in 1994) of the Company's assets. Cash outflow can be unpredictable for two reasons: first, a large portion of liabilities representing loss reserves have uncertainty regarding settlement dates; and second, there is potential for losses occurring either individually or in the aggregate. As a result, the Com- pany maintains adequate short-term investment programs necessary to ensure the availability of funds. The investment program is structured so that a forced sale liquidation of fixed maturities should not be necessary during the course of ordinary business involvement and activities. The Company has no material capital expenditure commitments.
The financial statements filed by CTC in connection with this Annual Report are consolidated financial statements which present all of the operations of the parent company and its subsidiaries.
Consolidated statements of income - for each of the three years in the period ended December 31, 1996.
Consolidated statements of shareholders' investment - for each of the three years in the period ended December 31, 1996.
General and administrative expenses for the year ended December 31, 2014, was $111,789 as compared to $2,013,288 for the year ended December 31, 2013. The $1,901,499 decrease is attributable to the halt on reaserch and development activities and overall reduction in administrative activities in 2014.
The following table summarizes total current assets, liabilities and working capital at December 31, 2014, compared to December 31, 2013.
At December 31, 2014, we had a working capital deficit of $1,172,472 as compared to working capital deficit of $1,067,088 at December 31, 2013, an increase in working capital deficit of $105,384. The increase of the deficit is attributable to an increase of total liabilities, including accrued interest related to the $750,000 note payable to Park Slope, LLC.
Net cash from operating activities for the year ended December 31, 2014 and 2013 was $5,252 and $3,395 respectively. The net loss for year ended December 31, 2014 and December 31, 2013 was $(193,826) and $(2,104,727) respectively. The Company’s slight cash surplus in operations was due to fundings from owners in order to improve short term liquidity and settle outstanding payables. The fundig was associated with reduced spendings in operations.
As reflected in the accompanying financial statements, the Company had a net loss of $(193,826) and modest net cash from operations of $5,252 for the year ended December 31, 2014, and working capital and stockholders’ deficit of $(1,172,472)and $(1,067,088) respectively, at December 31, 2013. These factors raise substantial doubt about the Company’s ability to continue as a going concern.
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 2015.
Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 pricing inputs that are generally observable inputs and not corroborated by market data.
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, 2014, we have four Warrants outstanding that are exercisable for an aggregate of up to 4,500,000 shares of our Common Stock.
The five-year financial information under the caption “Highlights” in CIGNA’s 2005 Annual Report is incorporated by reference.
The information contained in the MD&A section of CIGNA’s 2005 Annual Report is incorporated by reference.
We and our insurance subsidiaries share headquarters with Donegal Mutual in a building in Marietta, Pennsylvania owned by Donegal Mutual. 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 172,600 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 Mars,
The response to this Item is incorporated by reference to page 8 of our Annual Report to Stockholders for the year ended December 31, 2006, which is included as Exhibit (13) to this Form 10-K Report.
Management's Discussion and Analysis of Financial Condition and Results of Operations appears on pages 5-21 in the Annual Report to the Stockholders for the year ended December 31, 2013, and is incorporated herein by reference.
The consolidated financial statements and notes appear on pages 24-56 in the Annual Report to the Stockholders for the year ended December 31, 2013, and are incorporated herein by reference. See Part IV, Item 15.
Business Properties Real estate owned and used in the regular conduct of business consists of business properties located in various cities throughout the United States. The Corporation's Mount Washington Center, located in Baltimore, Maryland, is the principal owned property. This is the headquarters for the life insurance operations, and the location of the information systems, administrative services, and training and development complexes.
In addition, the Corporation leases approximately 120 offices in various cities in the regular course of business. The principal leased property is a home office building in Baltimore, Maryland, sold in 1984 and leased back by the Corporation. During 1994, the Corporation committed to a plan to consolidate its home office operations in Baltimore, Maryland at its Mount Washington facilities. (Refer to Note 6 of the Notes to Consolidated Financial Statements in the Corporation's 1995 Annual Report to Shareholders.)
Selected Financial Data Selected financial data of the Corporation on pages 42 and 43 of the 1995 Annual Report to Shareholders is incorporated herein by reference.
Management's Discussion and Analysis of Financial Condition and Results of Operations Management's Discussion and Analysis on pages 22 through 41 of the 1995 Annual Report to Shareholders is incorporated herein by reference.
Financial Statements and Supplementary Data The consolidated financial statements of the Corporation and notes to such financial statements on pages 44 through 70 of the 1995 Annual Report to Shareholders are incorporated herein by reference.
Superior's operations are conducted at leased facilities located in Atlanta, Georgia; Tampa, Florida; and Orange, California. Under a lease term which extends through February 2003, Superior leases office space at 280 Interstate North Circle, N.W., Suite 500, Atlanta, Georgia. Superior occupies 43,448 square feet at this location. Superior also has an office located at 3030 W. Rocky Pointe Drive, Suite 770, Tampa, Florida consisting of 18,477 square feet of space leased for a term extending through February 2000. In addition, Superior occupies an office at 1745 West Orangewood, Orange, California consisting of 3,264 square feet under a lease extending through May 1999.
IGF owns a 57,799 square foot office building located at 6000 Grand Avenue, Des Moines, Iowa which serves as its corporate headquarters. The building is fully occupied by IGF.
The discussion entitled "Management Discussion and Analysis of Financial Condition and Results of Operations" in the 1998 Annual Report on pages 5 through 19 included as Exhibit 13 is incorporated herein by reference.
The Company owns two adjacent office buildings and property located on the corner of North Columbia and West Rosemary Streets in Chapel Hill, North Carolina, which serve as the Company's corporate headquarters. The main building contains approximately 23,000 square feet and has on-site parking facilities. The Company's principal subsidiary, ITIC, leases office space in 32 locations throughout North Carolina, South Carolina, Michigan and Nebraska. NE-ITIC leases office space in one location in New York. Each of the office facilities occupied by the Company and its subsidiaries are in good condition and adequate for present operations. In November 2005, the Company purchased approximately 7,000 square feet of additional office space in Chapel Hill, North Carolina that was previously leased for ITEC, ITAC, ITIC’s Commercial Services Division and ITIC’s Settlement Services Division.
The financial statements and supplementary data in the 2007 Annual Report to Shareholders are incorporated by reference in this Form 10-K Annual Report.
Management's Discussion and Analysis of Financial Condition and Results of Operations in the 2001 Annual Report to Shareholders is incorporated by reference in this Form 10-K Annual Report.
The supplementary financial information (Selected Quarterly Financial Data) in the 2001 Annual Report to Shareholders is incorporated by reference in this Form 10-K Annual Report.
The Company occupies office space leased by Hartford Fire. Expenses associated with these offices are allocated on a direct and indirect basis to the Life subsidiaries of Hartford Fire.
MANAGEMENT'S NARRATIVE ANALYSIS OF RESULTS OF OPERATIONS (DOLLAR AMOUNTS IN MILLIONS)
SPECIALTY Specialty is growing in size from revenue and net income perspectives relative to the total Company and in comparison to the prior year. The segment assumed a large block of COLI business in 1994. Life insurance in force has grown from this assumption and from new sales to $39.5 billion in 1994 from $16.7 billion in 1993. HLIC's Specialty segment is one of the industry's leading underwriters and reinsurers of COLI products.
The information under the heading "Selected Financial and Statistical Data" as set forth on page 23 of the Company's 1994 Annual Report to Shareholders is incorporated by reference.
The information under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations" as set forth on page 18 of the Company's 1994 Annual Report to Shareholders is incorporated by reference.
The consolidated financial statements of the Company, the Report of Independent Accountants thereon by Coopers & Lybrand L.L.P. and the unaudited "Quarterly Financial Inforrnation" are set forth on pages 24-43 of the Company's 1994 Annual Report to Shareholders and are incorporated by reference.
(a) Physical Properties of the Company and Its Subsidiaries. The Company leases it home office facilities in Montgomery, Alabama, from Mutual.
The “Selected Financial Data” section on pages 1 and 2 of Exhibit 13 representing pages 6 and 7 of the Company’s annual report to security holders for the year ended December 31, 2002, is incorporated herein by reference.
The Financial Statements on pages 16 through 42 of Exhibit 13 representing pages 26 through 52 of the Company’s annual report to security holders for the fiscal year ended December 31, 2002, are incorporated herein by reference.
We lease approximately 2.3 million square feet of space throughout the United States. These leases are generally short-term to medium-term leases of commercial space.
1See Note 15 - Redeemable Noncontrolling Interest in the Annual Report for additional discussion.
The Registrant's home office and educational facilities are owned by the Registrant and located in Atlanta, Georgia. As of December 31, 1999, the Registrant leased approximately 600 office locations under leases with remaining terms ranging from a few months to ten years. The remainder of its office locations are occupied under various short-term rental arrangements. The Registrant also leases certain computer equipment. See Note 4 of Notes to Consolidated Financial Statements included in the Registrant's 1999 Annual Report to Shareholders filed herewith as Exhibit 13.1, which notes are 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, 1999, 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, 1999 under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" and is incorporated herein by reference.
United Services owns a 72,000 square foot office building at 316 North 5th Street, Bismarck, North Dakota, completed in 1954, and occupies 54% of its space.
The Consolidated Financial Statements, Notes to Consolidated Financial Statements, and Report of Independent Auditors appearing on pages through of the accompanying 1993 Annual Report to Shareholders are incorporated by reference in this Form 10-K Annual Report as Exhibit 13.
Except as mentioned below, the Company leases its Agencies' offices. For information with respect to the Company's lease commitments see "Note H--Leases" of the Notes to Consolidated Financial Statements in the Company's 1996 Annual Report to Shareholders which is incorporated herein by reference.
At December 31, 1996, the Company owned seven buildings in Richmond and Charlottesville, Virginia; Oklahoma City, Oklahoma; Daytona Beach and Fort Myers, Florida; Mobile, Alabama and Victoria, Texas (the Richmond, Virginia building being subject to a mortgage), in which the Agencies in those cities are located. See "Note D--Long-Term Debt and Override Commission Agreements" of the Notes to Consolidated Financial Statements in the Company's 1996 Annual Report to Shareholders which is incorporated herein by reference for information regarding mortgage notes payable and related collateral property.
The report of independent auditors included on page 13 of Form 10-K and consolidated financial statements included on pages 16 through 26 of the Company's 1996 Annual Report to Shareholders are incorporated herein by reference.
TPG believes its existing properties are well utilized and are suitable and adequate for its present circumstances.
The information required by this Item is incorporated by reference from portions of The PMI Group, Inc. 1998 Annual Report to Stockholders under the heading "Five year Summary of Financial Data" filed as part of Exhibit 13.1.
The information required by this Item is incorporated by reference from portions of The PMI Group, Inc. 1998 Annual Report to Stockholders as part of Exhibit 13.1.
The principal executive offices of the Company and FSA are located at 350 Park Avenue, New York, New York 10022. The principal executive offices, which consist of approximately 63,000 square feet of office space, are under lease agreements which expire in 2005. The Company's telephone number at its principal executive offices is (212) 826-0100. FSA or its subsidiaries also maintain leased office space in San Francisco, Dallas, Hamilton (Bermuda), London (England), Madrid (Spain), Singapore, Sydney (Australia) and Tokyo (Japan). The Company and its subsidiaries do not own any real property.
Selected financial data for the Company and its subsidiaries for each of the last five years is set forth under the caption "Five-Year Financial Summary" on page 16 of the Company's 1999 Annual Report to Shareholders. Such information is incorporated herein by reference and should be read in conjunction with the Consolidated Financial Statements and the Notes thereto contained on pages 26 through 44 of such Annual Report.
The historical consolidated financial data presented below as of and for each of the periods ended December 31, 2000, 1999, 1998, 1997, and 1996 were derived from our consolidated financial statements which are incorporated herein by reference to the Annual Report. The selected consolidated financial data should be read in conjunction with our consolidated financial statements and related notes thereto, and with "Management's Discussion and Analysis of Financial Condition and Results of Operations" also contained in the Annual Report and incorporated herein by reference.
(2) Net income per common share is based upon the weighted average number of common shares outstanding during the relevant period, after giving effect to the Exchange. The weighted average number
of shares includes common shares and the dilutive effect of the AIG Option and employee stock options, using the treasury stock method.
(5) Return on average equity equals the annual net income divided by the average of the shareholders' investment on the first and last day of the respective period.
This Management’s Discussion and Analysis of Financial Condition and Results of Operations may contain or incorporate by reference information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future actions, expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.
The Trust does not undertake any obligation to publicly correct or update any forward-looking statement if the Trust later becomes aware that such statement is not likely to be achieved. Please consult any further disclosures the Trust or MetLife, Inc. make on related subjects in reports to the SEC.
The number of Trust Interests outstanding at December 31, 2008 and 2007 was 242,724,190 and 260,655,407, respectively. The decrease of 17,931,217 in the number of Trust Interests is primarily attributable to net Trust Interests redeemed and Trust Interests withdrawn. Net assets of the Trust consist solely of Trust Shares and will increase or decrease depending upon, among other things, the movement of Trust Shares into or out of the Trust as directed by the Beneficiaries.
Financial Statements at December 31, 2008 and 2007 and for the years ended December 31, 2008, 2007 and 2006:
In our opinion, such financial statements present fairly, in all material respects, the financial position of the MetLife Policyholder Trust as of December 31, 2008 and 2007, and the results of its operations and changes in its net assets for each of the three years in the period ended December 31, 2008, in conformity with accounting principles generally accepted in the United States of America.
The headquarters for the Company is located at 4720 Kingsway Drive, Indianapolis Indiana. All corporate administration, accounting and management functions are contained at this location. Pafco is also located at 4720 Kingsway Drive, Indianapolis, Indiana in a building which is owned 100% by Pafco with no encumbrances. The building is an 80,000 square foot multilevel structure; approximately 50% of which is utilized by the Company. The remaining space is leased to third parties at a price of approximately $10 per square foot.
Superior's operations are conducted at leased facilities in Atlanta, Georgia; Marietta, Georgia; Tampa, Florida; Orange, California; Glendale, California; Bala Cynwyd, Pennsylvania and Alexandria, Virginia. Under a lease term that extends through February 2003, Superior leases 43,338 square feet of office space at 280 Interstate North Circle, N.W., Suite 500, Atlanta, Georgia. Superior occupies 2,500 square feet office space at 1400 South Marietta Parkway, Suite 105, Marietta, Georgia and the lease expires August 2003. Superior occupies an office located at 5483 West Waters Avenue, Suite 1200, Tampa, Florida and consists of approximately 33,861 square feet of space leased for a term extending through December 2007. Superior occupies an office at 1745 West Orangewood, Orange, California consisting of approximately 3,264 square feet leased for a term extending through May 2001. Superior occupies an office at 700 North Central Avenue, Glendale, California consisting of approximately 2,015 square feet leased for a term extending through November 2005. Superior occupies an office at 150 Monument Road, Bala Cynwyd, Pennsylvania consisting of approximately 3,031 square feet for a term extending through April, 2003. Superior occupies an office at 6303 Little River Turnpike, Suite 220, Alexandria, Virginia consisting of approximately 3,300 square feet for a term extending through October 2003. Underwriting, customer service, and administration activities are housed at the Atlanta location. Claims activities are split between Atlanta, Tampa, Orange, Glendale, Bala Cynwyd and Alexandria locations. The Tampa location processes all PIP claims. Claims property damage training is performed at the Marietta location. Accounting activities are performed at the headquarters location in Indianapolis, Indiana.
The Registrant's subsidiaries own and occupy office buildings in six states and certain foreign countries, and lease office space elsewhere in the United States and in various foreign cities. In general, no difficulty is anticipated in negotiating renewals as leases expire or in finding other satisfactory space if the premises become unavailable.
Sut-Managers; F. Bosshart, V. Cachin, R. Farmer, V. Philippi, C. P. Rebsteiner,
Ch. Robert-Tissot, J.-E. Rossier, H. Rytfel, M. D. de Salis, H. Salzmann, K. Schneider, A. Schütz, R.Waltbard, H. Zwingli
Foreign Representatives: United States Branch Office New York: J. K. Battershill Inc.
We have the honour to present to you the 91''* Annual Report and Statement of Accounts of the Company for the year 1954.
The Life insurance department continues to develop propitiously; both new business and insurances in force showed a further expansion in the past year. Mortality experience remained favourable and the result confirmed our expectations.
The Profit and Loss Account closed with a profit of . . Frs. 23,305,388.73 which, at the General Meeting of the Shareholders, it was decided to distribute as follows: Special Reserve Fund Frs. 5,000,000.— Staff Life Insurance and Pension Fund ..... » 2,000,000.— Dividend Frs. 225,— per share » 13,500,000.— Social Welfare Contributions » 300,000.— Directors' Remuneration » 305,000.— Garry Forward » 2,200,388.73
PROFIT AND LOSS ACCOUNT for the year ending 31«' December, 1954.
Premium Reserve from 1953 Reserve for Unsettled Claims from 1953 Reserve for Extraordinary Losses Premiums, less cancellations
Life Department. Premium Reserve from 1953 Annuity Fund from 1953 Reserve for Unsettled Claims from 1953 . . Premiums, less cancellations Consideration for Annuities Interest
Life Department. 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
Liabilities, Capital 60,000,000 — Reserve Fund 20,000,000 — Special Reserve Fund 40,000,000 — Reserve for Contingencies 10,000,000
Due to other Companies 84,411,018 46 Life and other funds retained from other Companies . 189,744,785 69 Sundry Creditors 12,577,578 40 Reserves: Fire, Accident, Liability, Burglary, Fidelity, Surety and Marine Dep^ Premium Reserve Frs. 286,737,889.20 Reserve for Unsettled Claims » 278,654,793.92 Reserve for Extraordinary Losses . . . . . . 12,000,000.— 577,392,683 12
Assets, Real Estate Frs. 22,225,600. Mortgages 43,685,806.05 Government and other Securities 666,504,694.67 Life and other funds deposited with ceding Companies » 538,387,715.11 Bank Balances 42,679,873.87 Cash in hand 512,163.67 1,313,995,753 37 Due by other Companies 158,373,905 30 Sundry Debtors . 521,308 26 Accrued Interest 5,546,465 82
(b) On August 9, 2013, we distributed our ownership interests in the parent company of FSRCI to HRG. As a result, FSRCI’s results are not included in our results for any period after Fiscal 2013.
This “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of Fidelity & Guaranty Life Inc. (“FGL,” “we,” “us,” “our” and, collectively with its subsidiaries, the “Company”) should be read in conjunction with “Item 6. Selected Financial Data,” and our accompanying consolidated financial statements and related notes (the “Consolidated Financial Statements”) referred to in “Item 8. Financial Statements and Supplementary Data” of this Annual Report on Form 10-K (the “Form 10-K”). Certain statements we make under this Item 7 constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. See “Forward-Looking Statements” at the beginning of Part I of this Form 10-K. You should consider our forward-looking statements in light of our Consolidated Financial Statements, related notes, and other financial information appearing elsewhere in this Form 10-K and our other filings with the Securities and Exchange Commission (the “SEC”).
We provide our principal life and annuity products through our insurance subsidiaries - Fidelity & Guaranty Life Insurance Company ("FGL Insurance") and Fidelity & Guaranty Life Insurance Company of New York ("FGL NY Insurance"). Our customers range across a variety of age groups and are concentrated in the middle-income market. Our fixed indexed annuities (“FIAs”) provide for pre-retirement wealth accumulation and post-retirement income management. Our life insurance provides wealth protection and transfer opportunities through indexed universal life products. Life and annuity products are primarily distributed through Independent Marketing Organizations ("IMOs") and independent insurance agents.
Our physical property consists of the home office building and grounds, owned in fee, at 200 Capital Avenue, Frankfort, Kentucky. Adjacent to the home office, we own additional property on Second Street and on Shelby Street in Frankfort, Kentucky. One building is used for agency and company meetings; one building is a print shop used by Investors Heritage Printing, one building is used for supplies and additional storage; one building currently available for lease to a commercial tenant and one building is a residential apartment building. All of the properties are in good condition.
The financial statements and notes appear on pages 17-42 in the Annual Report to the Stockholders for the year ended December 31, 2010, and are incorporated herein by reference. See Part IV, Item 15.
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, 1999, which is included as Exhibit (13)(A) to this Form 10-K Report, is incorporated herein by reference.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. - ------- -------------------------------------------- The consolidated financial statements from the Company's annual report to stockholders for the year ended December 31, 1999, which is included as Exhibit (13)(D) to this Form 10-K Report, are incorporated herein by reference.
In January 1898 the CAPITAL was increased to Frs. 8,000,000 (25 "/o paid-up).
Shareholders Capital (3000 shares of Fr. 2000 each) Reserve Fund Special Reserve Due to other Companies Sundry creditors Unclaimed dividends Reserve for retrocession, Life Dep'Premium Reserve, Life Dep'- ... ... Special Reserve, Life Dep*Reserve for outstanding losses. Life Dep*Annuities account
Shareholders Mortgages Government securities and Bonds House Property Cash in Bank ... Cash in Hand Loans on securities
Due by other Companies Due for Premium Reserve, Life Dep* Accrued interest ... ^
The information set forth in the “Selected Financial Data” section of the Company’s 2003 Annual Report is incorporated herein by reference.
The information set forth in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of the Company’s 2003 Annual Report is incorporated herein by reference.
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.
The information set forth under the caption "Five Year Comparative Summary of Selected Financial Data" on page 8 of 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" on pages 9 through 13, inclusive, of 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" and "Independent Auditors' Report" on pages 14 through 28, inclusive, of the Annual Report, and under the caption "Selected Quarterly Financial Data" on page 8 of the Annual Report, is incorporated herein by reference.
Management's Discussion and Analysis of financial condition and results of operations appears on pages 5-19 in the Annual Report to the Stockholders for the year ended December 31, 2011, and is incorporated herein by reference.
Financial position of the Company. CAPITAL fully subscribed (25 «/o paid-up) . . . . . . . . Frs. 10,000,000. -
RESERVE FUND • . . . . . . SPECIAL RESERVE FUND . . . . . . ...... FIRE, Accident, Liability, Marine, Burg­
Premium Reserve from 1910 Reserve for outstanding losses from 1910 . . . . . . Net premiums ....
Reserves, Life De^jt-: Premium Reserve . . . . . ... . . . . Fr. 36,909,419.— Annuity Fund , 8,702,284. — Reserve for outstanding losses . . . ..... 384,160. —
Assets. Shareholders' Bills . . . House Property . . . Mortgages ' . • • • . . . Government Securities and Bonds
Board of Directors: J. R. Hanhart, Chairman Zurich. D'' E. Welti, Deputy-chairman . . . . . Berne. Ed. Leicht . . Zurich. 0. Stiinzi - Baumann ........ »
We own 88 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 4.6 million square feet of space, are 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; Tampa, Florida; and Tempe, Arizona.
We lease approximately 2.1 million square feet of space throughout the United States and one location in Australia. These leases are generally short-term to medium-term leases of commercial space.
In 2000, the Company’s discontinued 	insurance operations recognized an increase in gross liability 	for losses totaling $450 million and $267.8 million of 	charges related to the restructuring for its workers’ 	compensation insurance operations.
Management’s Discussion and Analysis 	of Financial Condition and Results of Operations
Fremont General Corporation (“Fremont”) is a financial services holding company. Fremont’s financial services’ segment is consolidated within Fremont General Credit Corporation (“FGCC”), which is engaged in commercial and consumer real estate lending nationwide through its California-chartered industrial bank subsidiary, Fremont Investment & Loan (“FIL”). Additionally, there are certain corporate revenues and expenses, comprised primarily of investment income, interest expense and certain general and administrative expenses, that are not allocated by Fremont to FGCC or to the discontinued insurance operations.
The Company’s Consolidated Financial Statements, including supplementary data, are set forth in the “Index” on page 38 hereof.
The Company owns its headquarters building in Sarasota, Florida, which contains approximately 112,000 square feet of space, as well as an adjacent parking facility. The Company leases an aggregate of approximately 66,000 square feet of space at ten other locations in seven states, including Florida, under terms expiring through January 2002. The Company incurred rent expense of $1.3 million for the year ended December 31, 1996. Additionally, the Company has continuing commitments through July 1998 of approximately $70,000 related to two locations in which offices were closed during 1996.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS.
Premium Reserve from 1914 Reserve for outstanding Losses from 1914 Net Premiums
Life DepL. Retrocession Premiums Commission 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, leas Retrocession Expenses of Management Taxes Written off Investments and House Property . . . Net Profit.
„ 50,000. — to Staff Insurance and Pension Fund. . 750,000. — Dividends. „ 212,500. — to Directors and Management. . 108,962.11 Balance carried to next year's account.
Capital (5000 shares of Frs. 2000 each) 10,000,000 — Reserve Fund 1,000,000 — Special Reserve Fund . . . . . . . ... . . 2,000,000 Due to other Companies 9,972,749 21 Life and other funds deposited by ceding Companies . 18,825,580 87 Sundry Creditors 120,578 14 Reserves
Fire, Liability, Accident, Burglary, Fidelity, Surety and Marine Dep^Premium Reserve . Frs. 17,809,803.-
Balance of Profit and Loss Account . . . . . . . 1,321,462 11 188,088,241 88
Due by other Companies and Sundry Debtors . ... 15,519,688 49 Accrued Interest 984,897 —
(a) On November 30, 2017 and onward, FSRC's results are included in our results as FGL Holdings acquired FSRC pursuant to the Merger Agreement.
As a result of the completion of the Business Combination on November 30, 2017, our Consolidated Financial Statements included elsewhere in the Annual Report are presented: (i) as of December 31, 2017 and for the period December 1, 2017 to December 31, 2017 (Successor); (ii) for the period October 1, 2017 to November 30, 2017 (Predecessor); (iii) for the unaudited period October 1, 2016 to December 31, 2016 (Predecessor); (iv) as of September 30, 2017 and for the year ended September 30, 2017 (Predecessor); and as of September 30, 2016 and for the years ended September 30, 2016 and September 30, 2015 (Predecessor). In this Management’s Discussion and Analysis of Financial Condition and Results of Operations, we discuss the Predecessor’s year ended September 30, 2017 results compared to the Predecessor year ended September 30, 2016 results as well as the Predecessor year ended September 30, 2016 results compared to the Predecessor year ended September 30, 2015 results.We believe this discussion provides helpful information with respect to performance of our business during those respective periods.
The registrant and four of its subsidiaries, as tenants in common, own a 56% condominium interest in a 44-story building in New York City which serves as their worldwide headquarters. As part of the business combination with Johnson & Higgins, the registrant acquired a 37.58% condominium interest in a 40 story building in New York City, which is currently used by the risk and insurance services business of J&H Marsh & McLennan, Inc. The principal offices of the registrant's risk and insurance services subsidiaries in London are located in two adjoining buildings on land under a lease which expires in 2077, which site is currently expected to be redeveloped by registrant.
to time, the registrant may have unused space and may seek to sublet such space to third parties, depending upon the demands for office space in the locations involved.
Information on pages 26 through 33 of the 1997 Annual Report is incorporated herein by reference.
The Consolidated Financial Statements and the Report of Independent Auditors thereto on pages 34 through 52 of the 1997 Annual Report and Selected Quarterly Financial Data (Unaudited) on page 53 of the 1997 Annual Report are incorporated herein by reference. Supplemental Notes to Consolidated Financial Statements are included on pages 26 and 27 hereof.
The Company leases its executive offices, which are located at 220 South Ridgewood Avenue, Daytona Beach, Florida 32114, and 401 East Jackson Street, Suite 1700, Tampa, Florida 33602. The Company leases offices at every location with the exception of the Ocala, Florida, Opelousas and Ruston, Louisiana, Washington, New Jersey and Dansville, Geneva, Hornell and Penn Yan, New York offices where the Company owns the buildings. There is an outstanding mortgage on the Ocala building of $653,000. There are no outstanding mortgages on the other owned buildings. Information relating to the office locations summarized by business segment under the caption "Business Description" on the inside front cover of the Company's 2000 Annual Report to Shareholders is incorporated herein by reference.
The Consolidated Financial Statements of Brown & Brown, Inc. and its subsidiaries, together with the report thereon of Arthur Andersen LLP appearing on pages 30-47 of the Company's 2000 Annual Report to Shareholders, are incorporated herein by reference.
At December 31, 1995, the Company owned seven buildings in Richmond and Charlottesville, Virginia; Oklahoma City, Oklahoma; Daytona Beach and Fort Myers, Florida; Mobile, Alabama and Victoria, Texas (the Richmond, Virginia building being subject to a mortgage), in which the Agencies in those cities are located. See "Note D--Long-Term Debt and Override Commission Agreements" of the Notes to Consolidated Financial Statements in the Company's 1995 Annual Report to Shareholders which is incorporated herein by reference for information regarding mortgage notes payable and related collateral property.
Information as to selected financial data is incorporated herein by reference to the material under the heading "Selected Financial Data" in the Company's 1995 Annual Report to Shareholders.
The report of independent auditors included on page 12 of Form 10-K and consolidated financial statements included on pages 8 through 19 of the Company's 1995 Annual Report to Shareholders are incorporated herein by reference.
Financial position of the Company. CAPITAL fully subscribed (25 "/o paid-up) Frs. 10,000,000. —
RESERVE FUND „ 1,000,000.SPECIAL RESERVE FUND ..... „ 1,825,000.FIRE, Accident, Liability, Marine, Burg­
lary and Fidelity Guarantee Depl?. Premium Reserve Frs. 13,324,704.— Reserve for outstanding losses and pro­
Balance carried to next year's account „ 115,516.95 TOTAL FUNDS Frs. 91,324,020.95
Life I)epL. Premium Reserve from 1912 r . . Annuity Fund from 1912 Reserve for outstanding losses from 1912 . . . ; .• . Premiums, less cancellations . . . . Consideration for Annuities, less retrocession ..... Interest Interest, a.fter deduction of interest on Life Dept- account .
Cr. Fire, Accident, Liability, Marine, Burglary and Fidelity Guarantee DepM. Retrocession Premiums, less cancellations Commissions, less retrocession Losses paid
Life DepL. Retrocession Premiums Commission and expenses, less retrocession Surrenders, less retrocession Losses paid, less retrocession . ... . Annuities paid, less retrocession . ... Premium Reserve Annuity Fund . Reserve for outstanding losses . . . . Expenses of management . Taxes Depreciation of Securities and House Property Net profit
Balance of Profit and Loss Account .... •. . . . ,• 1,234,266 95 109,298,235 45
J. R. Hanhart, Chairman . . D'^ E. Welti, Deputy-chairman Ed. Leicht
O.Stllnzi-Baumann . . . W. C. Escher ..... C. Ahegg . R. Hegner-von Jiivalta . .
Properties. - - - -------------------- Information required under this item is incorporated herein by reference to the sections entitled "Subsidiaries," "Regional Offices," "Field Underwriting Office," "Information Systems Offices," "Subsidiary Offices," and "Properties" on page 49 of the 1998 Annual Report. The Company's facilities are substantially fully utilized and are adequate for the conduct of the Company's business.
Financial Statements and Supplementary Data. - - - ----------------------------------------------------- The consolidated financial statements and supplementary data of the Company are incorporated herein by reference to pages 28 through 46, inclusive, of the 1998 Annual Report. An index to the consolidated financial statements is contained in Item 14 (a)(1) of this report, and the Quarterly Financial Information is incorporated herein by reference to page 47 of the 1998 Annual Report.
We own five commercial buildings in Peoria, Illinois. Our primary building is a two-story 80,000 square foot office building, which serves as our corporate headquarters. Located on the same 20.6 acre campus is a 24,000 square foot building which is used by two branch offices of RLI Insurance Company and a supporting department. We also own a 25,400 square foot multi-story building used for record storage, a training center and office space. Our corporate campus also includes a 12,800 square foot building used as storage for furniture and equipment and office space. We share ownership with Maui Jim, Inc. of a 16,800 square foot airplane hangar located at the Greater Peoria Regional Airport.
Most of our branch offices and other company operations lease office space throughout the country.
Throughout this report (including portions incorporated by reference herein), we present our operations in the way we believe will be most meaningful, useful and transparent to anyone using this financial information to evaluate our performance. In addition to the GAAP presentation of net income and certain statutory reporting information, we show certain non-GAAP financial measures that are valuable in managing our business, including underwriting income, gross premiums written, net written premiums and combined ratios. A detailed discussion of these measures can be found on pages 2 through 3 of the 2007 Financial Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein.
Refer to the consolidated financial statements and supplementary data included on pages 26 through 58 of the 2007 Financial Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein. (See also Index to Financial Statements and Schedules attached on page 42.)
Reference is made to the "Five Year Summary of Selected Financial Highlights" on page 25 of the 1997 Annual Report to Shareholders, which is incorporated herein by reference.
Reference is made to "Management's Discussion and Analysis of Financial Condition and Results of Operations" on pages 26-45 of the 1997 Annual Report to Shareholders, which is incorporated herein by reference.
RESERVE FUND SPECIAL RESERVE FUND .... FIRE, Accident, Liability, Marine, Burg'
Premium Reserve from 1911 . . . . , Reserve for outstanding losses from 1911 Net premiums
Life DepL. Premium Reserve from 1911 . Annuity Fund from 1911 , , . . Reserve for outstanding losses from 1911 . . . . Premiums, less cancellations Consideration for Annuities, less retrocession . . . . Interest Interest, after deduction of interest on Life Dept- account
Cr. Fire, Accident, Liability, Marine, Burglary and Fidelity Guarantee Depä. Retrocession Premiums, less cancellations Commissions, less retrocession Losses paid Fr. 20,302,681.65 less retrocession 7,151,080.90 Premium Reserve Reserve for outstanding losses and provision for extraordinary losses
Fr. Distribution of Profit: 150,000. — to Special Reserve Fund. , 40.000. — to Staff Pension Fund. „ 625,000.-.Dividends. . 168,750. — to Directors and Management. „ 110,346. 61 Balance carried to next year's account.
Shareholders' Bills . House Property . . Mortgages Government Securities and Bonds
Deposits bearing interest, incl. Reserves of Life Dept- in hands of ceding Offices