felanders/preprocessed huggingface dataset:
Owned Properties. The Company owns two parcels of unimproved property consisting of approximately seven acres located in Fulton and Washington Counties, Georgia. At December 31, 1998, the aggregate book value of such properties was approximately $46,000.
Leased Properties. The Company (with the exception of American Southern) leases space for its principal offices in an office building located in Atlanta, Georgia, from Delta Life Insurance Company, under leases which expire at various times from May 31, 2002 to July 31, 2005. Under the current terms of the leases, the Company occupies approximately 54,000 square feet of office space. Delta Life Insurance Company, the owner of the building, is controlled by J. Mack Robinson, Chairman of the Board of Directors and largest shareholder of the Company. The terms of the leases are believed by Company management to be comparable to terms which could be obtained by the Company from unrelated parties for comparable rental property.
Registrant utilizes space and personnel of Jefferson-Pilot Life. JP Life owns its home office consisting of a 20-story building and an adjacent 17-story building. These structures house insurance operations and provide space for commercial leasing. JP Life also owns a supply and printing facility, a parking deck and a computer center, all located on nearby properties. It also owns 233 acres in Guilford County, North Carolina, formerly home office of Pilot Life Insurance Company, and an Employees' Club located in northwestern Guilford County, with approximately 500 acres of land surrounding the Club. Office space is leased in Lexington, Kentucky for operation of the Kentucky Central Life business assumed.
JPCC owns its three television studios and office buildings, owns most of its radio studios and offices, and owns or leases radio towers.
Management's Discussion and Analysis of Financial Condition and Results of Operations on pages 25 through 36 of the annual shareholder report for the year ended December 31, 1996, an excerpt of which appears in Exhibit 13, is incorporated by reference in response to this item.
The Quarterly Results of Operations on page 24 of the annual shareholder report for the year ended December 31, 1996, an excerpt of which appears in Exhibit 13, are incorporated by reference in response to this item.
Ambac Assurance maintains its principal executive offices at One State Street Plaza, New York, New York 10004, which consists of approximately 121,000 square feet of office space, under an agreement that expires on September 30, 2019.
Ambac UK maintains its principal offices at Hasilwood House, 60 Bishopgate, London EC2N4BE, England, which consists of 7,100 square feet of office space, under an agreement that expires in December 2006.
Selected financial data for the Company and its subsidiaries for each of the last five fiscal years is set forth under the captions "Financial Highlights" and "Five Year Highlights" on pages 4 and 5, respectively, of the Company's 1999 Annual Report to Stockholders. 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 33 through 51 of such Annual Report.
Management: :{|f, ,,f-j-CiJry'# ; General Manag er s: : • • *E. Bebler, P. Alther, E. Froelich
We have the honour to present to you the Eighty-second Annual Report and State­ ment of Accounts of the Company for the year 1945.
The adjustment of premium rates and of sums insured to post-war conditions, whilst somewhat slow in developing, contributed to produce a gratifying combined underwriting result.
In Hail insurance the profit was satisfactory, although claims have increased.
As in the previous year. Marine insurance produced most favourable results, mainly because large losses were not numerous.
Burglary andTheft insurance again brought an appreciable loss. Whilst in cer­ tain countries where economic recovery is beginning to be apparent an improvement in the loss experience can be observed, other areas in which the lack of foodstuffs and con­ sumer goods is still acute show a further increase in claims.
Surety and Fidelity Guarantee produced a gratifying profit. On the other hand, certain Miscellaneous branches Avere disappointing.
In the Life account the devaluation of important currencies led to a further drop in premium income and in the total of sums insured, Avhich could not be offset by the in­ creased production of new business. Owing to the favourable mortality experience in the territories least affected by hostilities the results Avere satisfactory, notAA'ithstanding numer­ ous Avar losses.
Securities Avere, as usual, entered at or beloAV market prices. Unquoted investments were valued with our customary caution. The rates employed for the conversion of foreign currencies were adjusted to correspond to the conditions ruling at the close of the year.
The Profit and Loss Account closed with a profit of . . Frs. 13,930,913.18 Avhich at the General Meeting of the Shareholders it was decided to distribute as folloAvs: Special Reserve Frs. 2,000,000. — Staff Life Insurance and Pension Fund ..... . » 1,000,000.— Dividend Frs. 128.— per share . » 7,424,000.— Social Welfare Contributions » 200,000. — Directors' Remuneration » 172,700.— Garry ForAvard . ......._ » 3,134,213.18
PROFIT AND LOSS ACCOUNT for the year ending 3lst December, 1945.
Premium Reserve from 1944 Reserve for Unsettled Claims from 1944 Reserve for Extraordinary Losses v . 'f . Premiums, less cancellations ,
Premiums for Retrocession, less cancellations Commission, less Retrocession Claims paid Frs. 112,606,895,94 less Retrocession , 30,295,564,47 Premium Reserve, less Retrocession .... ̂ ^ ^ T Reserve for Unsettled Claims, less Retrocession ....... Reserve for Extraordinary Losses
, Reserve for Unsettled Claims , 119,765,607.— Reserve for Extraordinary Losses , 10,000,000. — 232,141,298 —
Contribution to Staff Life Insurance and Pension Fund 1,000,000 — Dividend 7,424,000 — Social Welfare contributions • - - - • '• 200,000 — Directors : 172,700 — Carried forward \ 3,134,213 18 3,134,213
Properties. - ------ ---------- Fire and Marine owns its home office buildings, located at 385 Washington Street and 130 West Sixth Street, Saint Paul, Minn. These buildings, which are adjacent to one another and connected by skyway, are also occupied by the Registrant and a number of its other insurance subsidiaries located in Saint Paul. These buildings consist of approximately 1.1 million square feet of gross floor space.
The "Management's Discussion and Analysis" section on pages 22 to 41 of the Registrant's 1993 Annual Report to Shareholders is incorporated herein by reference.
The financial statements and supplementary data on pages 42 to 63 of the Registrant's 1993 Annual Report to Shareholders are incorporated herein by reference.
The Company’s principal executive office is located in Irvine, California in approximately 3,500 square feet of leased space under a lease that will expire in August 2002. The Company has entered into a new lease to relocate its principal executive office to an office with approximately 6,600 square feet in a lease that expires in September 2007. The Company leases its branch offices, which range in size up to approximately 16,000 square feet. The lease terms for the branch offices range from monthly to seven years. The Company believes that its facilities are adequate for its current needs and that suitable additional space will be available as required.
Management’s Discussion and Analysis of Financial Condition and Results of Operations appears in a separate section of this Annual Report on Form 10-K beginning on page 23.
The Company’s consolidated financial statements and schedule, as listed under Item 14, appear in a separate section of this Annual Report on Form 10-K beginning on page 26 and 20, respectively.
Old American leased its Home Office facilities at 4900 Oak Street in Kansas City, Missouri. The lease has 15 years remaining. The building has a net rentable area of approximately 77,000 square feet and approximately 76,000 square feet of parking garage space. All of Old American's Home Office operations have been relocated in Kansas City Life's Home Office. Old American has subleased the 4900 Oak property and has two and one-half years remaining on the original sublease. The sublease agreement provides for an option to renew the lease term for five years under similar terms.
In addition to the property owned for the purpose of carrying on the business of insurance, Kansas City Life and its subsidiaries also own property, or an interest therein, for investment purposes or as the result of mortgage foreclosures.
The following table sets forth selected financial information for the Trust. The financial information for the year ended December 31, 2001 and for the period April 7, 2000 (date of inception) to December 31, 2000 have been derived from the Trust's audited financial statements included elsewhere herein. The following statements of changes in net assets and balance sheet data have been prepared in conformity with accounting principles generally accepted in the United States of America. The following information should be read in conjunction with and is qualified entirely by the information contained in "Management's Discussion and Analysis of Financial Condition and Results of Operations," and the financial statements appearing elsewhere herein.
FOR THE PERIOD APRIL 7, 2000 (DATE OF THE ESTABLISHMENT OF THE METLIFE POLICYHOLDER TRUST) THROUGH DECEMBER 31, 2000
STATEMENTS OF ASSETS AND LIABILITIES DECEMBER 31, 2001 AND 2000 (IN THOUSANDS, EXCEPT TRUST INTEREST AMOUNTS)
STATEMENTS OF CHANGES IN NET ASSETS FOR THE YEAR ENDED DECEMBER 31, 2001 AND FOR THE PERIOD APRIL 7, 2000 (DATE OF INCEPTION) THROUGH DECEMBER 31, 2000 (IN THOUSANDS, EXCEPT TRUST INTEREST AMOUNTS)
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported in the Trust's financial statements. The critical accounting policies and related judgments underlying the Trust's financial statements require management to make subjective judgments that frequently require estimates about matters that are inherently uncertain.
One field office is owned by EFL and leased to the Company. The rent expense for the field office leased from EFL was $.3 million in 2004.
The remaining 16 field offices are leased from various unaffiliated parties. In addition to these field offices, the Company leases a warehouse facility from an unaffiliated party. During 2003, the Company entered into a lease for a building in the vicinity of the home office complex. This additional space is used to house certain home office employees. Total lease payments to external parties amounted to $2.7 million in 2004. Lease commitments for these properties expire periodically through 2009.
Management's Discussion and Analysis of financial condition and results of operations appears on pages 5-14 in the Annual Report to the Stockholders for the year ended December 31, 2009, and is incorporated herein by reference.
The Company’s principal executive office is located in Irvine, California in approximately 13,000 square feet of leased space. The lease expires in January 2020. The Company leases approximately 84 branch offices in 43 states, which range in size from 200 square feet up to 59,000 square feet. The lease terms for the branch offices range from monthly to 10 years and expire at various dates through 2028. The Company owns a 32,000 square foot building located in Milwaukie, Oregon. The Company believes that its facilities are adequate for its current needs and that suitable additional space will be available as required.
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” appears in Part II, Item 7 of this annual report and is incorporated herein by this reference.
The information contained under the heading "Results of Operations" in the Company's Annual Report to Shareholders for the fiscal year ended December 31, 1999, is incorporated herein by reference.
The "Selected Consolidated Financial Data" section on page 12 of the Company's Annual Report to stockholders for the year ended December 31, 2002, which is included as Exhibit (13) to this Form 10-K Report, is incorporated herein by reference.
The "Management's Discussion and Analysis of Results of Operations and Financial Condition" section on pages 13 to 27 of the Company's Annual Report to stockholders for the year ended December 31, 2002, which is included as Exhibit (13) to this Form 10-K Report, is incorporated herein by reference.
The Consolidated Financial Statements on pages 31 to 55 of the Company's Annual Report to stockholders for the year ended December 31, 2002, which is included as Exhibit (13) to this Form 10-K Report, are incorporated herein by reference.
Except as mentioned below, the Company leases its Headquarters’ office in Richmond, Virginia and its Agencies’ offices in various states. Information on the Company’s lease commitments is provided in “Note G-Leases” of Notes to Consolidated Financial Statements which is submitted in a separate section of this report.
At December 31, 2003, the Company owned a building in Auburn, Maine.
Information as to selected financial data is incorporated by reference to the material under the heading “Selected Financial Data” in the Company’s 2003 Annual Report to Shareholders.
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, 2012, and is incorporated herein by reference.
The consolidated financial statements and notes appear on pages 24-55 in the Annual Report to the Stockholders for the year ended December 31, 2012, and are incorporated herein by reference. See Part IV, Item 15.
The following selected financial data have been summarized from the Company's consolidated financial statements and are qualified in their entirety by reference to, and should be read in conjunction with, such consolidated financial statements and
Management's Discussion and Analysis of Financial Condition and - ------ ---------------------------------------------------------------- Results of Operations. ---------------------
During 2002, the Company issued 1,000 shares of $1 par value common stock for $1,000. As of December 31, 2002, the Company had not received the subscription proceeds and accordingly recorded a subscription receivable. The cash proceeds were received during the first quarter of 2003.
The Company was formed in connection with Leucadia's proposed reorganization from New York to Bermuda. It has no operations and conducts no business.
Financial statements and supplementary data required by this Item 8 are set forth at the pages indicated in Item 15(a) below.
Located on the same 15.0 acre campus is a 12,800 square foot building. Nearly 9,800 square feet of this building are used as warehouse storage for records and equipment. The remaining 3,000 square feet are used as office/conference space.
Additionally, the Company owns two other buildings located near the headquarter building. One, a 19,000 square foot building, is leased to a RLI Insurance Company Branch office, with the remaining 11,000 square feet being used for record storage.
Refer to the Selected Financial Data on pages 52 through 53 of the Annual Report to Shareholders for the year ended December 31, 1999 attached in Exhibit 13.
Refer to the consolidated financial statements and supplementary data included on pages 26 through 48 of the Annual Report to Shareholders for the year ended December 31, 1999 attached in Exhibit 13. (See Index to Financial Statements and Schedules attached on page 24.)
The Company leases its present corporate and administrative offices in a building located in Greenwich, Connecticut (the "Greenwich Lease"). The Company also has operating leases for office space at regional branch locations and its international subsidiary. See Note 6 of Notes to the Consolidated Financial Statements of NAC Re for a schedule on future minimum rentals related to the Company's operating leases.
The following consolidated financial statements of NAC Re and its subsidiary companies, included on pages 38 through 64 of NAC Re's 1995 Annual Report to Shareholders, are incorporated herein by reference:
- --Consolidated Statement of Stockholders' Equity for the years ended December 31, 1995, 1994 and 1993.
- --Consolidated Statement of Cash Flows for the years ended December 31, 1995, 1994 and 1993.
Financial position of the Company CAPITAL fully subscribed (25 7» paid) . . Frs. 10,000,000.— RESERVE FUND ................ „ 1,000,000. SPECIAL RESERVE FUND „ 2,200,000.— FIRE, Accident, Liability, Burglary, Fidelity,
Premium Reserve Frs. 58,262,258.— Reserve for outstanding Losses . . . „ 1,649,511.— ^0011^700
Balance carried to next year's account „ 108,962.11 TOTAL FUNDS Frs. 113,156,838.11
PROFIT AND LOSS ACCOUNT for the year ending 31®' December, 1915.
Retrocession Premiums, less cancellations Commissions, less Retrocession .... Losses paid less Retrocession Premium Reserve Reserve for outstanding Losses .... Reserve for extraordinary Losses . . .
Life Dept' Premium Reserve . Frs. 58,685,969.— Annuity Fund . ... . . . , 4,576,289. -
Shareholders' Liability . . . . . . . . .... 7,500,000 — House Property Frs. 2,100,000. — Mortgages , 88,062,375.Government and other Securities . , 29,668,964.25 Life and other funds deposited with ceding Companies , 41,769,448.06 Cash with Bankers , 2,507,181.08 Cash in hand 25,687.50 114,183,655 84
J. R, Hanhart, Chairman. E. Welti, Deputy-Chairman. W. C. Escher. Ed. Leicht.
Assistant Managers: W. Belser, Ch. Burnens, G. de Bardel, M. Grossmann,
Zurich, 60 Mythenquai Address: P. 0. Box 172, Zurich 22 / Switzerland
We have the honour to present to you the 86'^ Annual Report and State­ ment of Accounts of the Company for the year 1949.
this branch are still insufficient in some countries to off-set the increase in losses con­ ditioned hy intensified traffic, the effect of rising prices and the tendency of court de­ cisions to grant increasingly higher compensation.
In Life insurance the result was again satisfactory. Whilst business in force at the end of 1948 suffered a considerable reduction from currency adjustments, both the volume of sums insured and of premiums increased in 1949, as production was larger than in the preceding year. The mortality experience was favourable.
Investment income, net of interest on the Life Fund, again showed a welcome increase despite the low yields still prevailing in some countries of importance for us and the adverse effect of the devaluations.
Securities were entered at or below market price or, failing quotations, on the basis of conservative estimates. In fixing rates for the conversion of foreign currencies, pre­ sent trends as regards the transfer of funds and the risk of exchange fluctuations have been taken into consideration.
PROFIT AND LOSS ACCOUNT for the year ending 31®' Oeoember, 1949.
Management Expenses Taxes Amortization on Real Estate and Sundry Debtors Balance
1 Reserve for Unsettled Claims , 177,439,467.Reserve for Extraordinary Losses , 12,000,000. — 381,890,176 —
Shareholders' Liability 11,600,000 Real Estate Frs. 9,393,000.— Mortgages , 29,228,540.53 Government and other Securities . , 411,450,928.29 Life and other funds deposited with ceding Companies . , 460,210,915.06 Bank Balances , 39,981,709.87 Cash in hand . . 469,028.31 950,734,122 06 Due by other Companies 100,880,031 57 Sundry Debtors 382,010 42 Accrued Interest 3,170,602 30
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A few other offices and certain warehouse space are owned, none of which is material to the Company's financial condition or operations. The Company owns 26 acres of
The Company believes its properties are adequate and suitable for its business as presently conducted and are adequately maintained. For further information concerning leases, see Note 18 of Notes to Consolidated Financial Statements.
See Index to Consolidated Financial Statements and Schedules on page hereof. There is also incorporated by reference herein in response to this Item the material under the caption "Selected Quarterly Financial Data (unaudited)" on page 77 of the 1996 Annual Report, which material is included as part of Exhibit 13 to this Form 10-K.
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 $10,832,005 as of December 31, 1998.
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 $3,807,796 as of December 31, 1998.
This information is included in the Annual Report of the Registrant to its shareholders on pages 14 and 15 for the year ended December 31, 1998 and is incorporated herein by reference (see Exhibit 13 to this filing).
The Company s headquarters are located in a 25,000 square foot building in York, Pennsylvania, which is owned by the Company.
Incorporated by reference from the section entitled Financials at a Glance in the Company s Annual Report to Shareholders for the year ended December 31, 1995.
Incorporated by reference from the Company s Financial Statements, the notes thereto, and the independent auditors report included in the Company s Annual Report to Shareholders for the year ended December 31, 1995.
The information set forth under the caption "Five Year Comparative Summary of Selected Financial Data" on page 9 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 10 through 14, inclusive, of the Annual Report is incorporated herein by reference.
The Registrant's home office and educational facilities are owned by the Registrant and located in Atlanta, Georgia. As of December 31, 1998, the Registrant leased approximately 550 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 5 of Notes to Consolidated Financial Statements included in the Registrant's 1998 Annual Report to Shareholders filed herewith as Exhibit 13.1, which notes are incorporated herein by reference.
As of December 31, 1998, the Registrant owned or leased approximately 1,735 automobiles which are used by the Registrant's field adjusters and certain of its management personnel in the United States. 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 pages 23-41 of the Registrant's Annual Report to Shareholders for the year ended December 31, 1998 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 (Unaudited), Dividend Information and Common Stock Quotations", and is incorporated herein by reference.
Cherry Hill, New Jersey Admiral 42,000 Grand Forks, North Dakota American West 10,000 Jacksonville, Florida Carolina (1) 19,000 Lincoln, Nebraska Union 43,000 Lincoln, Nebraska Continental Western 20,000 Luverne, Minnesota Tri-State 33,000 Meridian, Mississippi Great River 30,000 Scottsdale, Arizona Nautilus 34,000 Urbandale, Iowa Continental Western 80,000 Westbrook, Maine Acadia 54,000
The information required by Items 7 and 8 of Part II is incorporated by reference to the Company's 1997 Annual Report to Shareholders as follows:
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Pages 24 through 40 of the 1997 Annual Report to Shareholders.
The financial statements of the Company and its consolidated subsidiaries, included on pages 32 through 55 of the Reliance Group Holdings 1996 Annual Report, which information is incorporated herein by reference, are listed in Item 14 below.
CT&T and CTI lease about 282,000 square feet for their headquarters operations in the Chicago Title and Trust Center, a 49-story office complex at 171 North Clark Street in Chicago, Illinois.
Ticor Title's and Security Union's headquarters are in company-owned premises of about 180,000 square feet in Rosemead, California. It is anticipated that these headquarters will be moved to a leased location in Pasadena, California in April 1996 as the building in Rosemead, California is currently being marketed for sale. CT&T and its subsidiaries own or lease buildings or office space in approximately 452 locations throughout the United States, primarily for CTI, Security Union and Ticor Title full-service and satellite branch office operations.
Celite and Harborlite also lease warehouses, office space and other facilities in the United States and abroad. A joint venture between Celite and the Government of Iceland has mining rights to mine diatomaceous earth in sections of Lake Myvatn, Iceland and Celite's joint ventures in PRC have mining rights to mine diatomaceous earth in sections of Jilin Province, PRC.
API's headquarters is located in leased premises of approximately 3,630 square feet in Sacramento, California. API or its subsidiary owns 38 properties in fee and two additional properties for which foreclosure is probable but has not yet occurred, in California. Such properties are comprised of improved and unimproved commercial land (office, retail and industrial), improved and unimproved commercial and residential lots, and office, retail, commercial and residential buildings. In addition, the following properties are held by joint ventures in dissolution in which API has an interest, but the liquidation of such joint ventures has not yet been completed. API intends to dispose of all of these properties in an orderly fashion, which may take several years.
The information required by this Item 8 is incorporated by reference from pages 18 through 35 of Alleghany's Annual Report to Stockholders for the year 1995, filed as Exhibit 13 hereto.
Refer to the Management’s Discussion and Analysis of Financial Condition and Results of Operations on pages 6 through 31 of the 2009 Financial Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein. Certain accounting policies are viewed by management to be “critical accounting policies.” These policies relate to unpaid loss and settlement expenses, investment valuation and other-than-temporary impairment, recoverability of reinsurance balances, deferred policy acquisition costs and deferred taxes. A detailed discussion of these critical accounting policies can be found on pages 8 through 13 of the 2009 Financial Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein.
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 page 7 of the 2009 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 32 through 65, and on page 71, of the 2009 Financial Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein. (See also Index to Financial Statement Schedules on page 46).
Zenith Insurance owns a 120,000 square foot office facility in Woodland Hills, California which, since November of 1987, has been the corporate home office of Zenith, Zenith Insurance, and ZNAT Insurance.
In addition, Zenith Insurance and CalFarm Insurance, in the regular conduct of their business, lease offices in various cities. See Note 8 of the Notes to Consolidated Financial Statements of Zenith on pages 51 and 52 of the 1995 Annual Report to Stockholders, which note is hereby incorporated by reference.
"Management's Discussion and Analysis of Consolidated Financial Condition and Results of Operations," included in Zenith's 1995 Annual Report to Stockholders on pages 28 to 34 is hereby incorporated by reference.
The response to this Item is incorporated by reference to page 8 of our Annual Report to Stockholders for the year ended December 31, 2005, which is included as Exhibit (13) to this Form 10-K Report.
The response to this Item is incorporated by reference to pages 10 through 18 of our Annual Report to Stockholders for the year ended December 31, 2005, which is included as Exhibit (13) to this Form 10-K Report.
We own seven office buildings consisting of an aggregate of approximately 670,000 square feet of space. Our headquarters are located in Downers Grove, Illinois and our other six offices are located in West Sacramento and San Diego, California; Houston, Texas; Pittsburgh, Pennsylvania; and Tucson and Scottsdale, Arizona. Additionally, we lease significant office space in Salt Lake City, Utah; Rockville, Maryland; Milwaukee, Wisconsin; Richmond, Virginia; Tampa, Florida; Boise, Idaho and Irvine, CA. We also have numerous smaller leased facilities throughout the nation.
Management's Discussion and Analysis of Financial Condition and --------------------------------------------------------------- Results of Operation. ---------------------
Consolidated Balance Sheets as of December 31, 2002 and 2003 60-63
Consolidated Statements of Operations for the Years Ended December 31, 2001, 2002 and 2003 64-65
Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2001, 2002 and 2003 66-67
Consolidated Statements of Stockholders' Equity for the Years Ended December 31, 2001, 2002 and 2003 72-75
Financial position on the 31Ü December 1896. CAPITAL fully subscribed (250/o paid) ... ... Frs. 6,000,000. — RESERVE FUND , 600,000. -
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 financial statements meeting the requirements of Regulation S-X are attached hereto as Schedules I, II, III, IV and V.
The supplementary financial information set forth in the section entitled "Selected Quarterly Financial Data" in Management's Discussion and Analysis of Financial Condition and Results of Operations in the 2006 Annual Report to Shareholders is incorporated by reference in this Form 10-K Annual Report.
Incorporated by reference to “Six Year Financial Summary Data” on pages 14 and 15 of Midland’s 2003 Annual Report to Shareholders.
Incorporated by reference to pages 16 through 27 of Midland’s 2003 Annual Report to Shareholders.
Incorporated by reference to pages 28 through 44 of Midland’s 2003 Annual Report to Shareholders.
The Company's principal executive office is located in Irvine, California in approximately 3,500 square feet of leased space. The lease expires in August 2002. The Company leases its branch offices, which range in size up to approximately11,000 square feet. The lease terms for the branch offices range from monthly to five years. The Company believes that its facilities are adequate for its current needs and that suitable additional space will be available as required.
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, 1996, which is included as Exhibit (13)(B) to this Form 10-K Report, is incorporated herein by reference.
Healthsource's principal executive offices are located at Two College Park Drive, Hooksett, New Hampshire 03106, where Healthsource owns and occupies a 97,600 square foot office building.
The information required for this item is incorporated by reference to p. 3 of Healthsource's 1996 Annual Report to Shareholders.
The Company's executive offices are located in Hartford, Connecticut. The Company rents from an affiliate of Citigroup approximately 1,030,000 square feet of office space in Hartford, Connecticut, under a ten-year lease that expires on April 1, 2006 and, subject to certain conditions, is renewable by the Company for additional five-year terms. Under certain circumstances, the Company may be required to purchase the leased premises. In addition, the Company leases 199 field offices totaling approximately 4,920,000 square feet throughout the United States under leases or subleases with third parties. The Company also rents from Aetna approximately 373,000 square feet of office space at CityPlace, located in Hartford, Connecticut, under an eight-year sublease that expires in 2004.
Owned Properties. The Company owns two parcels of unimproved property consisting of approximately seven acres located in Fulton and Washington Counties, Georgia. At December 31, 1999, the aggregate book value of such properties was approximately $46,000.
Leased Properties. The Company (with the exception of American Southern, Association Casualty, and SIA, Inc.) leases space for its principal offices in an office building located in Atlanta, Georgia, from Delta Life Insurance Company, under leases which expire at various times from May 31, 2002 to July 31, 2005. Under the current terms of the leases, the Company occupies approximately 65,489 square feet of office space. Delta Life Insurance Company, the owner of the building, is controlled by J. Mack Robinson, Chairman of the Board of Directors and largest shareholder of the Company. The terms of the leases are believed by Company management to be comparable to terms which could be obtained by the Company from unrelated parties for comparable rental property.
American Southern leases space for its offices in a building located in Atlanta, Georgia. The lease term expires January 31, 2000. Under the terms of the lease, American Southern occupies approximately 17,014 square feet.Effective February 1, 2000, the company entered into an extension of its lease for a ten year period.
Association Casualty leases space for its principal offices in a building located in Austin, Texas. The lease term expires December 31, 2000. Under the terms of the lease, Association Casualty occupies 15,777 square feet and the remaining 3,136 square feet is subleased.
SIA, Inc. leases space for its principal offices in a building located in Stone Mountain, Georgia. The lease term expires December 31, 2003. Under the terms of the lease, SIA, Inc. occupies 1,787 square feet.
Selected financial data of Atlantic American Corporation and subsidiaries for the five year period December 31, 1999 is set forth on page 1 of the 1999 Annual Report to Shareholders and is incorporated herein by reference.
Management's discussion and analysis of financial condition and results of operations of Atlantic American Corporation and subsidiaries are set forth on pages 25 to 31 of the 1999 Annual Report to Shareholders and are incorporated herein by reference.
We have prepared the following selected financial data as of and for the years ended September 30, 2016, 2015, 2014, 2013, and 2012.
(a) Common shares outstanding and per share amounts give retroactive effect to our statutory conversion on August 26, 2013 and the 4,700-for-1 stock split of our shares of common stock effected on November 26, 2013.
All references to Fiscal 2016, 2015 and 2014 refer to fiscal periods ended September 30, 2016, 2015 and 2014, respectively.
Some of our products include guaranteed minimum crediting rates, most notably our fixed rate annuities. As of September 30, 2016, the Company's reserves, net of reinsurance, and average crediting rate on our fixed rate annuities were $3 billion and 3%, respectively. We are required to pay these guaranteed minimum crediting rates even if earnings on our investment portfolio decline, which would negatively impact earnings. In addition, we expect more policyholders to hold policies with comparatively high guaranteed rates for a longer period in a low interest rate environment. Conversely, a rise in average yield on our investment portfolio would increase earnings if the average interest rate we pay on our products does not rise correspondingly. Similarly, we expect that policyholders would be less likely to hold policies with existing guarantees as interest rates rise and the relative value of other new business offerings are increased, which would negatively impact our earnings and cash flows.
Substantially all of the Company's worldwide facilities are leased. No difficulty is anticipated in negotiating renewals as leases expire or in finding other satisfactory space if the premises become unavailable.
Further information concerning the Company's obligations under capital leases and noncancelable operating leases is contained in Notes 9 and 12 of the Notes to Financial Statements to the 1993 Annual Report incorporated herein by reference.
Information under the caption "Selected Financial Data" in the 1993 Annual Report is incorporated herein by reference.
The following are incorporated herein by reference to the 1993 Annual Report:
Refer to the Management’s Discussion and Analysis of Financial Condition and Results of Operations on pages 1 through 25 of the 2007 Financial Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein. Certain accounting policies are viewed by Management to be “critical accounting policies.” These policies relate to unpaid loss and settlement expenses, investment valuation, recoverability of reinsurance balances and deferred policy acquisition costs. A detailed discussion of these critical accounting policies can be found on pages 3 through 8 of the 2007 Financial Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein.
Alleghany's headquarters is located in leased office space of about 11,000 square feet at 375 Park Avenue in New York City.
Alleghany Underwriting leases approximately 13,000 square feet of office space in London.
A description of the major plants and properties owned and operated by Celite and Harborlite is set forth below. All of the following properties are owned, with the exception of Plant #1 at Quincy, Washington, the headquarters offices at Santa Barbara and Lompoc, California, the Nanterre, France, Beijing, PRC, Santiago, Chile and Izmir, Turkey offices and the plant at Wissembourg, France, which are leased.
Heads & Threads leases approximately 12,000 square feet of office space in Sayreville, New Jersey for its headquarters. All of its five distribution centers, one packaging operation and twelve warehouses are also in leased space, ranging in size from about 16,000 square feet to 165,000 square feet. In 2000, Heads & Threads sold the land and buildings it owned in Northbrook, Illinois, which housed its former headquarters, and Woodside, New York.
The information required by this Item 6 is incorporated by reference from page 24 of Alleghany's Annual Report to Stockholders for the year 2000, filed as Exhibit 13 hereto.
The information required by this Item 7 is incorporated by reference from pages 3 through 4, 6 through 7, 11 through 13, 15 through 17, 19 through 21 and 26 through 28 of Alleghany's Annual Report to Stockholders for the year 2000, filed as Exhibit 13 hereto.
Financial position of tlie Company. CAPITAL (25 7» paid-up, 75 7o deposited in bonds) .... Frs. 10,000,000. — RESERVE FUND „ 1,000,000. SPECIAL RESERVE FUND . . . . . . . . . . . . ,, 1,350,000.-^ FIRE, Accident, Liability, Marine, Burg­
LIFE Departement Premium Reserve Frs. 86,966,148. — Reserve for outstanding losses .... „ 464,662. —
„ 87,480,805.— Balance carried to next year's account . . . . . . . ,, 108,267.76
Premium Reserve from 1909 Reserve for outstanding losses from 1909 . . . . . . . . Net premiums
Life DepL. Retrocession Premiums Commissions 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 Amortization on Building-account and on Securities Net profit
„ 40,000. — to Staff Pension Fund. „ 625,000.— Dividends. „ 168,750.— to Directors and Management. „ 108,267.76 Balance carried to next year's account.
Capital (5000 shares of Fr. 2000 each) .... 10,000,000 • Reserve Fund ... 1,000,000 — Special Reserve 1,200,000 — Due to other Companies 4,858,310 Sundry creditors . , , , 133,521 05 Reserves, Fire, Liability, Accident, Marine, Burglary and Fidelity Guarantee Dep^: for unexpired risks . . . Fr. 9,178,300for outstanding losses including provision for extra­
ordinary losses . . . , 9,398,798.- 18,572,098 — Reserves, Life Dept-: Premium Reserve Annuity Fund . Reserve for outstanding losses ..... 37,430,805 -
Shareholders' BiUs 7,500,000 Company's Property in Zurich . . . Fr. 700,000. Mortgages Government Securities and Bonds
Board of Directors: J. R. Hanhart, Chairman . . D"^ E. Welti, Deputy-chairman Ed. Leicht
Board of Directors: Ch. Simon, Chairman, E. HUrlimann, Deputy-Chairman. Hans Sulzer Max Huber Felix Calender 0. J. Abegg G. Bachmann
Suh-Manag er s: Ad. Ammann, Ch. Burnens, C. C. Calburn, G. de Bardel, F. Eggenberger, W. Habicht, Ch. Ochsenbein, P. Simon,
The results in the Accident Department are satisfactoiy, not least on account of the improved experience in Aviation Insurance, which section had in the past always shown a loss.
Burglary and Theft Insurance, as well as Surety and Fidelity Guarantee, have again closed with a profit; on the other hand Water Damage Insurance brought numerous losses as a result of unusually cold weather combined with a general lack of fuel, and resulted in a loss, following a series of good years.
Contrary to widely entertained expectation, the money market remained easy, and interest yields sank in consequence. In conjunction with this, currency depreciations and our policy of continued and important financial preparedness were responsible for the retrograde movement shown by the interest Account.
The listed securities have, as usual, been entered at or below the average market prices ruling in December; unquoted investments have been valued in accordance with statutory regulations. In fixing the rates of exchange for foreign currencies particular consideration was given to the possibilities of transfer. Both the technical results as well as interest emanating from foreign currencies were entered in our books only for the value which they had for us in Swiss francs.
PROFIT AND LOSS ACCOUNT for the year ending 3tst December, 1940.
Premiums for Retrocession, less cancellations Frs. 45,044,384.26 Premiums for Retrocession for which no reserve is necessary „ 6,225,190.78 Commission, less Retrocession Claims paid Frs. 104,833,690.30 less Retrocession , 27,937,668.03 Premium Reserve, less Retrocession Reserve for Unsettled Claims, less Retrocession Reserve for Extraordinary Losses
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 Management Expenses Taxes Depreciation of Investments Balance •. . .
Liabilities. Capital (58,000 shares of Frs. 1000 each) . Reserve Fund Special Reserve Fund . Reserve for Contingencies Due to other Companies
Life and other funds retained from other Companies Sundry Creditors Reserves: Fire, Accident, Liability, Burglary, Fidelity, Surety and Marine Dep||; Premium Reserve Frs. 76,816,420.— Reserve for Unsettled Claims „ 105,509,867.— Reserve for Extraordinary Losses „ 10,000,000. —
Mortgages 24,813,369.31 Government and other Securities 207,047,475. 95 Life and other funds deposited with ceding Companies . „ 420,620,631. 42 Bank Balances 25,482,386.42 Cash in hand 156,820.68
include the following: changes in property and casualty reserves; catastrophe losses; premium and investment growth; product pricing environment; availability of credit; changes in government regulation; performance of financial markets; fluctuations in interest rates; availability of pricing reinsurance; litigation and administrative proceedings; Year 2000 issues, including the Corporation's ability to successfully identify and remediate Year 2000 system issues with its own IT and non-IT assets, the ability of third parties with which the Corporation has business relationships to address and resolve their Year 2000 issues and the ability of the Corporation to identify these third party issues; Year 2000 issues relating to the commercial lines business acquired from the Great American Insurance Company and the ability of the Corporation to implement appropriate contingency plans to address Year 2000 problems which are not successfully remediated; ability of Ohio Casualty to integrate the acquired business and to retain the acquired insurance business; and general economic and market conditions.
Financial Statements and Schedules. (See Index to Financial Statements attached hereto.)
Properties. 	 Incorporated by reference to the inside front cover and pages 2 	 through 13 of the Registrant's 1995 Annual Report to Shareholders.
Management's Discussion and Analysis of Financial Condition and 	 Results of Operations. 	 Incorporated by reference to pages 18 and 19 of the Registrant's 1995 	 Annual Report to Shareholders.
Financial Statements and Supplementary Data. 	 Incorporated by reference to pages 16 and 20 through 32 of the 	 Registrant's 1995 Annual Report to Shareholders.
We have prepared the following selected financial data as of and for the year ended December 31, 2018, the period from December 1, 2017 to December 31, 2017, the Predecessor period from October 1, 2017 to November 31, 2017, the Predecessor period from October 1, 2016 to December 31, 2016 (unaudited), and the Predecessor years ended September 30, 2017, 2016, 2015 and 2014.
(a) Beginning December 1, 2017, FSRC's results are included in our results as FGL Holdings acquired FSRC pursuant to the Merger Agreement.
This “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of FGL Holdings (“FGL Holdings,” “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 SEC.