felanders/preprocessed huggingface dataset:
First Health owns four office buildings consisting of an aggregate of approximately 465,000 square feet of space. The Company's headquarters are located in Downers Grove, Illinois and the other three are located in West Sacramento, California; Houston, Texas and Scottsdale, Arizona. Additionally, the Company leases significant office space in the Salt Lake City, Utah; Milwaukee, Wisconsin; Richmond, Virginia; Pittsburgh, Pennsylvania; Boise, Idaho; and the Los Angeles, California area. The Company also has numerous smaller leased facilities throughout the nation.
All of the Company's buildings and equipment are being utilized, have been maintained adequately and are in good operating condition. These assets, together with planned capital expenditures, are expected to meet the Company's operating needs in the foreseeable future.
Selected financial data of the Company for each of its last five fiscal years is set forth under "Selected Financial Data" in the Company's 1999 Annual Report to Stockholders. Such information is incorporated herein by reference.
Consolidated Balance Sheets as of December 31, 1998 and 1999 32
Consolidated Statements of Operations for the Years Ended December 31, 1997, 1998 and 1999 33
Consolidated Statements of Stockholders' Equity for the Years Ended December 31, 1997, 1998 and 1999 36-37
IGF owns a 17,500 square foot office building located at 2882 106th Street, des Moines, Iowa which serves as its corporate headquarters. The building is fully occupied by IGF. IGF also owns certain improved commercial property which is adjacent to its corporate headquarters.
IGF has entered into a purchase agreement to acquire an office building in Des Moines, Iowa, to be used as its crop insurance division home office. The purchase price was $2.6 million, of which $2.4 million was escrowed on February 1, 1997. The terms include a floating closing date whereby the transaction will close on the earlier of February 1, 1998 or thirty days after the closing of the sale of the Company's currently occupied home office building, also located in Des Moines. The purchase of the new building is not contingent on the sale of the current building.
Dividends Per Share $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
Reported Total Assets 381,342 160,816 115,240 128,690 96,573 US/Canada GAAP Differences: Loans to Purchase Shares (595) (563) (593) (741) (774) Deferred Income Taxes 1,357 1,466 1,742 548 0 Outstanding Claims Ceded 0 0 0 0 0 Unearned Premiums Ceded 0 0 0 0 0 Unrealized gain (loss) on Investments 1,225 (221) (1,383) 0 0 Revised Total Assets 383,329 161,498 115,006 128,497 95,799
Reported Shareholders' Equity 47,258 12,622 5,067 1,088 (739) US/Canada GAAP Differences: Deferred Income Taxes 1,357 1,466 1,742 548 0 Discounting on claims (1,261) (1,327) (1,134) (1,292) (1,396) Loans to Purchase Shares (595) (563) (593) (741) (774) Unrealized Gain (Loss) on Investments 1,225 (221) (1,383) 0 0 Revised Shareholders' Equity 47,984 11,977 3,699 (397) (2,909)
The consolidated financial statements included in the 1996 Annual Report, included as Exhibit 13, and listed in Item 14 of this Report are incorporated herein by reference.
Swiss Reinsurance Company to the c General Meeting of the Shareholders 30 th June, 1923.
Board of Directors: Ch. Simon, Chairman. E. Welti, Deputy-Chairman. W. C. Escher. Rob. Hegner. C. Ahegg. Hans Sulzer.
We beg to submit the fiftyninth Annual Report and Accounts for the year 1922. The past year shows a very gratifying improvement in the results of various branches due, no doubt, in a large measure to more favourable economic conditions. Even a slight improvement in industrial activity reacts favourably on Insurance. The influence of post-war liquidations has been less noticeable in most of the countries out­ side of Europe except in North America where it is still very marked. Conditions in some of the Continental countries are most unsatisfactory owing to depreciation of currency and competition the effect of which will no doubt be felt for some time to come. We are fortunate in that the main part of our business is derived from countries with high rates of exchange. Economic influences often reflect very strongly on Insurance especially in the so called „General Foreign" field, in our own case this influence is lessened by the wide spread and the variety of business written.
The results of Burglary business both in Europe and America were satisfactory. Credit, Fidelity and Surety business was adversely affected by a few losses in countries with depreciated currencies. The production of new Life business was again very large. Converted into Swiss
Francs at the December rates of exchange it amounted to over 130 millions. Mortality experience was very favourable. All first year commissions have been written off.
All business in foreign currency now appears, both as regards the Profit & Loss Statement and the Balance Sheet, in Swiss Francs at the average rates of exchange ruling for December 1922, without, however, exceeding the par value of exchange.
Finally we have to record a further appreciation of our Investments.
Premium Reserve from 1921 . . Reserve for unsettled Claims from Reserve for extraordinary Losses Premiums, less cancellations . .
Premiums for Retrocession, less cancellations ....... Commissions, less Retrocession Claims paid Prs. 78,263,424.80 less Retrocession 35,461,017.50 Premium Reserve, less Retrocession Reserve for unsettled Claims Reserve for extraordinary Losses
Life DepL. Premiums for Retrocession Commissions and Expenses, less Retrocession Losses paid, less Retrocession Annuities paid, less Retrocession Premium Reserve, less Retrocession . . . . . Annuity Fund, less Retrocession ...... Reserve for unsettled Claims, less Retrocession Expenses of Management Taxes Net Profit frs.
Capital (10,000 shares of Frs. 2000 each) . . . . . 20,000,000 —
Assets. Shareholders' Liability 15,000,000 — Real Estate . Frs. 2,500,000.Mortgages , 15,113,468.35 Government and other Securities . . ... . . . , 63,642,128.65 Life and other funds deposited with ceding Companies . , 63,548,015.87 Bank Balances . , 8,722,780.41 Cash in hand . , 59,327.86 153,585,721 14 Due by other Companies and Sundry Debtors .... 39,071,901 54 Accrued Interest 1,041,022 65
The information required by this Item 8 is incorporated by reference from pages 34 through 57 of Chicago Title's Annual Report to Stockholders for the year 1998, filed as Exhibit 13 hereto.
The Company’s corporate headquarters office complex is located on a 42-acre parcel in Mayfield Village, Ohio. The Company also owns a 72-acre corporate office complex near the headquarters. Buildings on these two sites, which are owned by a subsidiary of the Company, contain approximately 1.4 million square feet in total.
The Company leases approximately 1.1 million square feet of office and warehouse space at various locations throughout the United States for its other business units and staff functions. In addition, the Company leases approximately 450 claims offices, consisting of approximately 2.9 million square feet, at various locations throughout the United States. These leases are generally short-term to medium-term leases of standard commercial office space.
As the Company continues to grow, it expects that it will need additional space and is actively engaged in seeking out additional locations to meet its current and anticipated needs. The Company is currently constructing call centers in Colorado Springs, Colorado and Tampa, Florida and an office building in Mayfield Village, Ohio. These three projects are expected to be completed in 2004 at an aggregate estimated total project cost of $128 million. Further, during January 2004, the Company began leasing a call center in Phoenix, Arizona.
The information contained in "Selected Financial Data" on Page 10 of the Company's 1996 Annual Report is incorporated herein by reference.
The 1996 Financial Statements and the Registrant's independent auditor's report on pages 20 through 28 of the Company's 1996 Annual Report are incorporated herein by reference, as is the unaudited information set forth in the Notes to the Financial Statements under the caption "Unaudited Quarterly Summary of Operations" on page 28.
Guarantee Life's headquarters are located at 8801 Indian Hills Drive, Omaha, Nebraska and consist of 200,000 square feet of office space owned by Guarantee Life, including a 60,000 square foot office building constructed in 1995. In addition, Guarantee Life leases the space used by PFG and group sales offices under short-term leases. Management believes that its facilities will be adequate for its anticipated needs in all material respects.
The information required by this Item is incorporated herein by reference from "Summary Consolidated Financial and Operating Data" on page 19, and from "Consolidated Statements of Income" on page 32, in Guarantee Life's 1997 Annual Report to Shareholders.
The Company is headquartered in Richmond, Virginia, where it owns a four-story building with 268,000 square feet of office space. The Company also owns an office facility and warehouse in Roanoke, Virginia with 190,500 square feet. The Company leases additional office space totaling 447,400 square feet in Richmond, 120,900 square feet in Roanoke and other locations in Virginia and 6,000 square feet combined in Maryland, Pennsylvania and North Carolina. These properties are primarily used by the health insurance segment for operations and for corporate administration. The Company also owns a 70,800 square foot office facility in Fayetteville, North Carolina that is for sale.
Square footage utilized by segment as of December 31, 2000 was as follows: health insurance, 833,600; government programs, 29,000; investments, 3,900; and other reportable segments, 50,300. The remaining 116,000 square feet utilized by the Company was used for corporate administration.
Refer to pages 18 and 19, "Selected Consolidated Financial and Operating Data," of Trigon Healthcare Inc.'s 2000 Annual Report to Shareholders, which are incorporated herein by reference.
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 used for storage; one building is 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 consolidated financial statements and notes appear on pages 22-57 in the Annual Report to the Stockholders for the year ended December 31, 2016, and are incorporated herein by reference. See Part IV, Item 15.
The home office property at 1 Horace Mann Plaza in Springfield, Illinois, consisting of an office building totaling 225,000 square feet, is owned by the Company. Also in Springfield, the Company owns and leases some smaller buildings at other locations. In addition, the Company leases office space in suburban Chicago, Illinois, suburban Dallas, Texas, and Raleigh, North Carolina, for its claims operations and leases some office space related to its field marketing operations. These properties, which are utilized by all of the Company's business segments, are adequate and suitable for the Company's current and anticipated future needs.
The information required by Item 301 of Regulation S-K is contained in the table in Item 1. Business - Selected Historical Consolidated Financial Data.
The Company's Consolidated Financial Statements, Financial Statement Schedules, the Report of its Independent Registered Public Accounting Firm and the Unaudited Selected Quarterly Financial Data required by Item 302 of Regulation S-K are listed on page of this report.
use of any owned or leased property, while potentially disruptive, would have no material impact on the Registrant.
The Registrant hereby incorporates by reference the "Selected Financial Data" table on page 34 of the Annual Report.
The Registrant hereby incorporates by reference "Management's Analysis of Operating Results and Financial Condition" on pages 9 through 15 of the Annual Report.
The Registrant hereby incorporates by reference the following statements, notes and data from the Annual Report.
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 53,000 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 also maintains leased office space in San Francisco, Dallas, London (England), Paris (France), Madrid (Spain) and Sydney (Australia). 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 "Financial Highlights" on page 16 of the Company's 1996 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 to 44 of such Annual Report.
We have the honour to present to you the 89"^ Annual Report and Statement of Accounts of the Company for the year 1952.
The overall technical experience showed a further substantial improvement. The ad­ ministrative expenses were only slightly higher but taxes now burden our accounts more heavily than heretofore.
Premium Reserve from 1951 230,244,674 19 Reserve for Unsettled Claims from 1951 196,104,134 96 Reserve for Extraordinary Losses 12,000,000 — Premiums, less cancellations 575,510,872 30 1,013,859,681 45
Premiums for Retrocession, less canceUations 134,160,332 56 Commission, less Retrocession 158,644,042 37 Claims paid Prs. 274,019,790.89 less Retrocession , 64,935,796.51 209,083,994 38 Premium Reserve, less Retrocession 244,961,338 41 Reserve for Unsettled Claims, less Retrocession 238,381,014 21 Reserve for Extraordinary Losses 12,000,000 — 997,230,721 93
Life Department Premium Reserve Frs. 415,033,609.21 Annuity Fund 6,939,755.18 Reserve for Unsettled Claims 4,002,697.45 425,976,061 84
Contribution to Staff Life Insurance and Pension Fund 1,800,000 Dividend 13,500,000 — Social Welfare contributions 250,000 Directors 291,300 — Carried forward 2,755,269 08
Assets, Real Estate . Frs. 15,830,221.50 Mortgages . , 31,614,001.62 Government and other Securities . „ 581,316,878.55 Life and other funds deposited with ceding Companies . , 528,481,030.06 Bank Balances . . 40,381,807.10 Cash in hand . , 396,947.18 1,198,020,886 01 Due by other Companies 127,509,916 52 Sundry Debtors 557,174 08 Accrued Interest 4,062,157 21
As set forth below, Kemper Corporation and certain of its subsidiaries have both capital leases, for which the financial commitments are not material, and operating leases. For its holding company headquarters, Kemper Corporation leases from Lumbermens 32,000 sq. ft. in Long Grove, Illinois. See the two notes, incorporated herein by reference, captioned "Related-party transactions" and "Commitments and contingent liabilities" of the Notes to Consolidated Financial Statements in the Annual Report. The Company believes its current and planned facilities are adequate for its present needs.
KFS leases 530,000 sq. ft. of office space in Chicago, Illinois. Most of this space is leased through December 31, 1996, with renewal options. KFS is exploring the possibility of leasing replacement office space in Chicago beginning in 1995 or 1996. KSvC leases 230,000 sq. ft. in Kansas City, Missouri. INVEST leases 38,500 sq. ft. in Tampa, Florida. The companies comprising this segment also rent office space in various other locations from which they transact business.
For its office space, KSI leases 277,000 sq. ft. in two locations in Chicago, Illinois; 153,000 sq. ft. in one location in Denver, Colorado; 115,000 sq. ft. in one location in Houston, Texas; 49,000 sq. ft. in one location in Cleveland, Ohio; 30,000 sq. ft. in one location in Los Angeles, California; 118,000 sq. ft. in two locations in Milwaukee, Wisconsin; 38,000 sq. ft. in two locations in New York City; and 709,000 sq. ft. in 139 other locations nationwide. KSI owns a 90,000 sq. ft. building in Cleveland, Ohio. Beta leases 44,000 sq. ft. in Milwaukee. KCC leases 24,000 sq. ft. in New York City.
The real estate subsidiaries utilize KFS' facilities in Chicago. KREMCO leases 45,000 sq. ft. from MLP ventures and 30,000 sq. ft. from unrelated parties in the various locations from which it does business.
The section captioned MANAGEMENT'S DISCUSSION AND ANALYSIS on pages 21 through 38 of the Annual Report is incorporated herein by reference.
Kemper Corporation hereby incorporates by reference the following statements and notes from the Annual Report:
Under date of March 7, 1994, we reported on the consolidated balance sheet of Kemper Corporation and subsidiaries as of December 31, 1993 and 1992, and the related consolidated statements of operations, stockholders' equity and cash flows for each of the years in the three-year period ended December 31, 1993, as contained in the Annual Report to Stockholders. These consolidated financial statements and our report thereon are incorporated by reference in the Annual Report on Form 10-K for the year 1993.
In our opinion, such financial statement schedules, when considered in relation to the basic consolidated financial statements taken as a whole, present fairly, in all material respects, the information set forth therein.
Assistant Managers: V. V. Castelberg, J. Gailloud, P. Guggenblihl PI. Pessina, 0. Wiesmann
Although the outbreak of hostilities in Europe did not find this Company unprepared, the effect of the existing economic disturbances on a concern whose activity is based upon international collaboration, cannot at present be foreseen.
Technical results for the year, which comprised four war months, were again excel­ lent, thus offering a further proof of the soundness and quality of our business subjected as it is to careful selection and supervision.
In spite of the further depreciation in important foreign currencies, the Fire Account produced a considerable part of the total profit for the year. Recent events reveal the full importance of the decision arrived at a few years ago by international agreement providing for the exclusion in Fire Insurance of the uninsurable War Risk.
The loss sustained in the Hail section again emphasizes the entirely aleatory nature of this business.
After a series of adverse years the Accident Department for the first time again reveals a profit, which, however, is of modest proportion owing to the unfavourable experience still prevailing in Aviation Insurance.
Third Party Liability Insurance disclosed a gratifying surplus. In Motor business, the volume of which decreased owing to the laying up of many vehicles, the yield was small in spite of a general improvement in the adherence to tariff regulations.
The Profit and Loss Account closes with a profit of . . Frs. 11,785,179.62 which at the General Meeting of the shareholders it was decided to distribute as follows: Reseiwe for Contingencies Frs. 1,000,000.— Staff Life Insurance and Pension Fund » 500,000. — Dividend Frs. 127.66 per share » 7,404,280. — Directors » 147,840.— Social Welfare contribution » 100,000.— Carry forward » 2,633,059.62
With the above contribution the Staff Life Insurance and Pension Fund amounts to approximately Frs. 10,000,000.
Life DepL. Premium Reserve from 1938 Annuity Fund from 1938 Reserve for Unsettled Claims from 1938 Premiums, less cancellations Consideration for Annuities Interest .' Interest, after deduction of interest due to Life Dep^
Premiums for Retrocession, less cancellations Frs. 47,204,699.26 Premiums for Retrocession for which no reserve is necessary „ 6,260,233.59 Commission, less Retrocession Claims paid Frs. 113,873,930.66 less Retrocession „ 29,371,668.02 Premium Reserve, less Retrocession Reserve for Unsettled Claims, less Retrocession Reserve for Extraordinary Losses
Life Dep^ Premium Reserve Frs. 327,518,377.— Annuity Fund 8,336,713. Reserve for Unsettled Claims 5,547,936. — 341,403,026 —
The member companies of the Erie Insurance Group (the Company and its subsidiaries, the Exchange and its subsidiary and EFL) share a corporate home office complex in Erie, Pennsylvania, which is comprised of 489,710 square feet. The home office complex is owned by the Exchange. The Company is charged rent expense for the related square footage it occupies.
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 2003.
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 will be used to house certain home office employees to be relocated to this space in 2004. Total lease payments to external parties amounted to $2.5 million in 2003. Lease commitments for these properties expire periodically through 2008.
Reference is made to “Selected Consolidated Financial Data” in the Annual Report for the year ended December 31, 2003, incorporated herein by reference. Reference is also made to the contractual obligation table in the Liquidity section of the Management’s Discussion and Analysis in the Annual Report for the year ended December 31, 2003, incorporated herein by reference.
Reference is made to “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Annual Report for the year ended December 31, 2003, incorporated herein by reference.
Reference is made to the “Consolidated Financial Statements” and the “Quarterly Results of Operations” contained in the “Notes to Consolidated Financial Statements” in the Annual Report for the year ended December 31, 2003, 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, 1998, Superior leases office space at 280 Interstate North Circle, N.W., Suite 500 Atlanta, Georgia. Superior occupies 43,448 square feet at this location and subleases an additional 3,303 square feet to third party tenants. 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 fee under a lease extending through May 1997.
The discussion entitled "Management Discussion and Analysis of Financial Condition and Results of Operations" included in the 1996 Annual Report on pages 6 through 19 included as Exhibit is incorporated herein by reference.
The consolidated financial statements in the 1996 Annual Report, included as Exhibit 13, and listed in Item 14 of this Report are incorporated herein by reference from the 1996 Annual Report.
Sunset currently owns and wholly occupies a two story office building at 3200 Capitol Boulevard in Olympia, Washington. The building is situated on four acres of land. This building will be offered for sale in the latter half of 1999.
The Company owns a two-story, 80,000 square foot building in Peoria, Illinois, which serves as the Corporate Headquarters for RLI Corp., RLI Insurance Company and Mt. Hawley Insurance Company. Two RLI Insurance Company Branch Offices also lease office space in this building.
All other operations of RLI Corp. lease the office space which they need in various locations throughout the country.
Refer to the Selected Financial Data on pages 52 through 53 of the Annual Report to Shareholders for the year ended December 31, 1998 attached in Exhibit 13.
Refer to the Management's Discussion and Analysis of Financial Condition and Results of Operations on pages 16 through 28 of the Annual Report to Shareholders for the year ended December 31, 1998 attached in Exhibit 13.
Refer to the consolidated financial statements and supplementary data included on pages 29 through 48 of the Annual Report to Shareholders for the year ended December 31, 1998 attached in Exhibit 13. (See Index to Financial Statements and Schedules attached on page 24.)
Principal properties of the Company and its subsidiaries include home offices located in Louisville, Kentucky (Commonwealth Life) and Valley Forge, Pennsylvania (Providian Life and Health and Providian Auto and Home Insurance), which are owned; offices in Pleasanton, California (Providian Bancorp), which are owned; and Louisville, Kentucky (Providian Corporation), Durham, North Carolina (Peoples Security and Capital Security) and San Francisco and Sacramento, California (Providian Bancorp), which are leased.
Consolidated Results and Analysis on pages 19 and 20, Results by Business Segment on pages 20 through 30, Asset Liability Management and Review on pages 30 through 36 and Liquidity and Capital Resources and Inflation on pages 37 and 38 of the Annual Report for the year ended December 31, 1996, are incorporated by reference.
The Consolidated Financial Statements of Providian Corporation and Subsidiaries included on pages 41 through 45 and Quarterly Financial Data on page 39 of the Annual Report for the year ended December 31, 1996, are incorporated by reference.
180 Maiden Lane 1,091,570*** Property/Casualty New York, New York Insurance Offices
* Represents property owned by CNAF or its subsidiaries. ** Represents property leased by CNAF or its subsidiaries. *** Property is owned by Continental and 46% of it is occupied by CNAF or its subsidiaries.
Incorporated herein by reference from page 2 of the 1997 Annual Report to Shareholders.
Statement of Consolidated Operations - Year Ended December 3l, 1997, 1996 and 1995
Statement of Consolidated Stockholders' Equity - December 31, 1997, 1996 and 1995
The above Consolidated Financial Statements, the related Notes to the Consolidated Financial Statements and the Independent Auditors' Report are incorporated herein by reference from pages 40 through 90 of the 1997 Annual Report to Shareholders.
Midland owns its 275,000 square foot principal offices located in Amelia, Ohio. Midland’s insurance subsidiaries lease office space in Montgomery, Alabama, Atlanta, Georgia, St. Louis, Missouri, Grand Rapids, Michigan and West Des Moines, Iowa. Midland’s transportation subsidiaries lease offices in Metairie, Louisiana.
Incorporated by reference to pages 16 through 27 of Midland’s 2002 Annual Report to Shareholders.
Incorporated by reference to pages 28 through 44 of Midland’s 2002 Annual Report to Shareholders.
The Company's physical properties consist primarily of leases of commercial office space. At December 31, 1997, the Company leased 497,000 square feet of office space, including 330,000 square feet at its four primary locations, Dallas, London, Minneapolis, and San Antonio. The Company considers its properties to be adequate for its present and reasonably foreseeable requirements.
The information on page 20 of the Company's 1997 Annual Report to Shareholders is incorporated herein by reference.
The information on pages 21 through 26 of the Company's 1997 Annual Report to Shareholders is incorporated herein by reference.
The Company’s corporate headquarters office complex is located on a 42-acre parcel in Mayfield Village, Ohio. The Company also owns a 72-acre corporate office complex near the headquarters. In total, these two sites contain approximately 1.36 million square feet and are owned by a subsidiary. The second complex was constructed at a total cost of $129.0 million, with the final building completed in the first quarter of 2001. The construction project was funded through operating cash flows.
Incorporated by reference from Management’s Discussion and Analysis of Financial Condition and Results of Operations on pages 46 through 51 of the Company’s Annual Report.
Ticor Title's and Security Union's headquarters are in leased premises of about 45,000 square feet in Pasadena, California. CT&T and its subsidiaries own or lease buildings or office space in approximately 550 locations throughout the United States, primarily for CTI, Security Union and Ticor Title full-service and satellite branch office operations.
In 1996, URG agreed to lease approximately 45,000 square feet of office space for its new headquarters in Calabasas, California. The lease term is expected to begin in the second quarter of 1998 upon completion of construction and relocation. Currently, URG leases about 30,000 square feet of office space for its headquarters operations in Woodland Hills, California. All of its five branch office locations are also in leased space, ranging in size from about 2,900 square feet to 6,700 square feet. CUIC leases about 19,700 square feet of office space. All three branch offices of The Center are also in leased space, ranging in size from about 4,300 square feet to 5,800 square feet.
Endurance U.S. Holdings Corp. leases office space comprised of approximately 39,165 square feet in White Plains, New York under a lease expiring in 2014.
Endurance Worldwide Insurance Limited leases office space comprised of approximately 12,050 square feet in London, England under a lease expiring on June 23, 2013.
The section of our 2004 Annual Report to Shareholders entitled "Selected Consolidated Financial Data" is incorporated herein by reference and is filed as Exhibit 13.1 to this Form 10-K.
The Report of Independent Registered Public Accounting Firm, Management's Annual Report on Internal Control over Financial Reporting, Audited Consolidated Financial Statements, Notes to
the Consolidated Financial Statements and the Condensed Unaudited Quarterly Financial Data included in our 2004 Annual Report to Shareholders are incorporated herein by reference and are filed as Exhibit 13.1 to this Form 10-K.
AHL and its subsidiaries own 29.77 acres in a suburban area of Jacksonville, Florida, upon which it completed construction in August, 1994 of an eight story home office building containing approximately 140,000 square feet and a two story annex building of approximately 20,000 square feet. AHL and its affiliates relocated to this new home office building effective August 29, 1994.
See "Consolidated Statements of Earnings," "Consolidated Balance Sheets," "Consolidated Statements of Stockholders' Equity," "Consolidated Statements of Cash Flows," "Notes to Consolidated Financial Statements," "Independent Auditors' Report" and "Quarterly Financial Data," on pages 17 through 29 of the Registrant's 1995 Annual Report to Shareholders which is enclosed, which statements and data are incorporated herein by reference.
The main office of the Company is located at 135 South Main Street, Greenville, SC.
The Company owns its television broadcast studios, office buildings and transmitter sites in Columbia, SC; Montgomery, AL; Toledo, OH; Louisville, KY; Evansville, IN; Jonesboro, AR; Lake Charles, LA; Biloxi, MS; Albany, GA; Harlingen; TX, Lubbock TX, Wilmington, NC; Jackson MS; and Lufkin, TX.
Management's Discussion and Analysis of Financial Condition and Results of Operations is contained on pages 19-23 of The Liberty Corporation Annual Report to Shareholders and is filed as Exhibit 13 on pages 21-25 of this report and is incorporated in this Item 7 by reference.
The information called for by this item can be found on Pages 42 through 71 of Trenwick's Annual Report to Stockholders and to the items included in Item 14(a) of this report, and are incorporated herein by reference.
Assistant Managers: W. Baumann, W. Belser, Ch. Burnens, G. de Bardel, M. Eisenring, M. Grossmann,
We have the honour to present to you the 88'^Annual Report and Statement of Accounts of the Gompanj"^ for the year 1951.
to diminish the profit ratio. In Third Party Liability insurance the demand for new forms of guarantee and for higher cover, together with upward adjustments in rates, led to a substantial expansion in premium. Despite all remedial measures taken, this branch still shows a loss; it will be difficult to achieve a radical improvement in claims experience as long as prices and wages are not stabilised. Aviation insurance this year returns a profit, whilst in Surety, Fidelity and Credit insurance no surplus balance accrued owing to the increased incidence of claims.
Investments are, as usual, entered at or below the market rates, or, failing quotations, on the basis of conservative estimates. In converting foreign currencies, present transfer facilities and the risk of exchange fluctuations have been taken into consideration.
The Profit and Loss Account closed with a profit of . . Frs. 19,196,627.64 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 » 1,800,000. — Dividend Frs. 175. — per share » 10,150,000. — Social Welfare Contributions » 250,000.— Directors' Remuneration » 264,400. — Garry Forward » 1,732.227. 64
Premium Reserve from 1950 200,931,708 73 Reserve for Unsettled Claims from 1950 171,013,612 85 Reserve for Extraordinary Losses 12,000,000 — Premiums, less cancellations 549,824,179 75 933,769,501 33
Premiums for Retrocession, less cancellations 135,396,467 44 Commission, less Retrocession 144,690,874 65 Claims paid Prs. 256,235,842.27 less Retrocession , 59,222,237.94 197,013,604 33 Premium Reserve, less Retrocession 232,354,989 09 Reserve for Unsettled Claims, less Retrocession 198,217,092 80 Reserve for Extraordinary Losses 12,000,000 — 919,673,028 31
Liabilities. Capital (58,000 shares of Frs. 1000 each) 58,000,000 Reserve Fund 20,000,000 Special Reserve Fund 30,000,000 Reserve for Contingencies 10,000,000 Due to other Companies 89,215,131 96 Life and other funds retained from other Companies . 161,376,664 78 Sundry Creditors 9,199,115 — Reserves: Fire, Accident, Liability, Burglary, Fidelity, Surety and Marine DeptlPremium Reserve Frs. 232,354,989. 09 Reserve for Unsettled Claims , 198,217,092.80 Reserve for Extraordinary Losses , 12,000,000. - 442,572,081 89
Life Department Premium Reserve . Frs. 387,858,969. 52 Annuity Fund . 6,380,746.18 Reserve for Unsettled Claims 3,118,946. 29 397,308,661 99
Contribution to StalF Life Insurance and Pension Fund 1,800,000 _ Dividend 10,150,000 Social Welfare contributions 250,000 Directors 264,400 Carried forward 1,732,227 64
The information required by this Item is incorporated by reference from portions of The PMI Group, Inc. 2000 Annual Report to Stockholders under the heading "Eleven-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. 2000 Annual Report to Stockholders under the heading "Management's Discussion and Analysis" as part of Exhibit 13.1.
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, 2000, 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, 2000, under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" and is incorporated herein by reference.
The Company leases all of its office space, which as of February 11, 1999, totalled approximately 14,554 square feet. The home office in Columbus, Ohio aggregates approximately 7,000 square feet. The lease provides for a monthly gross rental of $7,817. The leased space is shared with Westford Group, Inc., an affiliate of the Company through a common officer and principal shareholder. Rental expense is allocated in accordance with space utilization. BCIS Services' office in Los Angeles, California occupies approximately 2,900 square feet. The lease provides for a monthly gross rental of $3,324. Custom Title leases office space at a property located in Gahanna, Ohio which serves as its corporate headquarters. The office occupies approximately 3,390 square feet. Custom Title's branch leases office space in Cleveland, Ohio occupying approximately 2,548 square feet. These two leases provide for a monthly gross rental of $6,788.
In fiscal 2020, the Company’s principal executive office was located in Irvine, California in approximately 13,000 square feet of leased space. That lease expired in June 2020. Starting in June 2020, the Company’s new principal executive office is located in Irvine, California in approximately 16,000 square feet of leased space. The new lease expires in January 2029. The Company leases 79 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 2029. 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.
The Financial Statements on pages 15 through 38 of Exhibit 13 representing pages 25 through 48 of the Company's annual report to security holders for the fiscal year ended December 31, 2001, are incorporated herein by reference.
The Marine Branch shows no sign of improvement and conditions continue to be generally unsatisfactory.
Personal Accident Insurance left a fair profit but the results of this Branch are being impaired by the increasing number of Motor Gar accidents.
Third Party Liability business has been unfavourably influenced by heavy losses on Automobile risks, particularly in France. Also in this Branch keen competition in certain countries has created a very unsatisfactory situation, the consequence of which will be felt for some time to come owing to the ever increasing volume of traffic.
In the Life Department we are able to record a gratifying increase in the production of new business which considerably outweighs the reduction caused by depre­ ciation of certain currencies and Portfolio cancellations. The Mortality rate during the past year was again very favourable. Following our usual custom we have fully written off all acquisition costs.
Interest, after deduction of interest accruing to the Life Department, amounts to Frs. 5,153,975.22.
The Profit & Loss Account closes with a profit of . . . . Frs. 4,011,588.67 which the Board of Directors propose to distribute as follows: Special Reserve Fund . Frs. 700,000.— Staff Life Insurance and Pension Fund .... . „ 250,000.— Dividend Frs. 75.— per share . . . . .... „ 2,250,000.— Directors and Management . . . . . . . . , „ 662,500. -
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Life DepL. Premiums for Retrocession i ... . . Commissions and Expenses, less Retrocessiou ... . . Surrenders, less Retrocession . . . Los.ses paid, less Retrocession . ... Annuities paid, less Retrocession . . . . . . . . . , Premium Reserve, less Retrocession . . ... . . . . Annuity Fund, less Retrocession . . . . . .... . Reserve for unsettled Claims, less Retrocession ... . Expenses of Management Taxes ....;. Net Profit . . . ... . : ; ' '
PROFIT AND LOSS ACCOUNT for the year ending 31®' December, 1923.
Premium Beserve from 1922 .... Reserve for unsettled Claims from 1922 Reserve for extraordinary Losses . . Premiums, less cancellations ....
Life DepL. Premium Reserve from 1922 Annuity Fund from 1922 Reserve for unsettled Claims from 1922 Premiums, less cancellations Retrocessions withdrawn Consideration for Annuities, less Retrocession . . . Interest Interest, after deduction of interest due to Life Dept-
Premiums for Retrocession, less cancellations Commissions, less Retrocession . Claims paid Frs. 83,772,018.39 less Retrocession , 87,404,043.71 Premium Reserve, less Retrocession Reserve for unsettled Claims Reserve for extraordinary Losses
Life BepL. Premiums for Retrocession Commissions and Expenses, less Retrocession . Losses paid, less Retrocession Annuities paid, less Retrocession . . Premium Reserve, less Retrocession Annuity Fund, less Retrocession Reserve for unsettled Claims, less Retrocession ...... Expenses of Management . . . Taxes . . . Written off for depreciation of Investments . . . . Net Profit . . .
(1) Includes amortization of deferred acquisition costs (“DAC”) and underwriting, general and administrative expenses.
Net income decreased $1,278, or 17%, to $6,382 for Twelve Months 2008 from $7,660 for Twelve Months 2007. The decrease in net income was primarily due to an increase in net realized losses on investments driven by the write-down of other-than-temporary impairments of $3,311 (after-tax) in 2008 compared to $417 (after-tax) in 2007. This was partially offset by favorable experience in the disability business in 2008 compared to 2007.
Total revenues decreased $933, or 1%, to $68,414 for Twelve Months 2008 from $69,347 for Twelve Months 2007. This decrease was primarily due to the write-down of other-than-temporary impairments in our investment portfolio of $5,094 in 2008 compared to $641 in 2007 and the continued decline of our domestic credit business. This was partially offset by an increase in assumed single premiums on closed blocks of business, net of reinsurance, to $9,250 in 2008 from $4,059 in 2007.
Total benefits, losses and expenses increased $487, or 1%, to $58,217 for Twelve Months 2008 from $57,730 for Twelve Months 2007. This increase was primarily due to assumed single premiums on closed blocks of business, net of reinsurance, as $9,250 was recorded in 2008 compared to $4,059 in 2007, and a $900 fine from the New York Department of Insurance related to a recent financial and market conduct exam. This was partially offset by favorable experience in the disability business in 2008 compared to 2007.
Income taxes decreased $142, or 4%, to $3,815 for Twelve Months 2008 from $3,957 for Twelve Months 2007. The change in income taxes was not proportionate to pretax income primarily due a permanent tax difference related to a fine assessed by the New York Department of Insurance related to a recent financial and market conduct exam and a valuation allowance against deferred tax assets, which is primarily attributable to capital losses resulting from dispositions of investments.
The financial statements and financial statement schedules in Part IV, Item 15(a) 1 and 2 of this report are incorporated by reference into this Item 8.
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 also leases offices in the following cities: Phoenix, Arizona; Prescott, Arizona; Tucson, Arizona; Oakland, California; Brooksville, Florida; Ft. Lauderdale, Florida; Ft. Myers, Florida; Jacksonville, Florida; Leesburg, Florida; Maitland, Florida; Melbourne, Florida; Miami, Florida; Miami Lakes, Florida; Monticello, Florida; Naples, Florida; Orlando, Florida; Perry, Florida; St. Petersburg, Florida; Sarasota, Florida; West Palm Beach, Florida; Winter Haven, Florida; Atlanta, Georgia; Indianapolis, Indiana; Las Vegas, Nevada; Clark, New Jersey; Albuquerque, New Mexico; Roswell, New Mexico; Taos, New Mexico; Philadelphia, Pennsylvania; and Houston, Texas.
The Company's operating leases expire on various dates. These leases generally contain renewal options and escalation clauses based on increases in the lessors' operating expenses and
other charges. The Company expects that most leases will be renewed or replaced upon expiration. See Note 12 of the "Notes to Consolidated Financial Statements" in the Company's 1999 Annual Report to Shareholders for additional information on the Company's lease commitments.
At December 31, 1999, the Company owned buildings located in Ocala, Florida and Perrysburg, Ohio, having aggregate book values of $724,000 and $479,000, respectively, including improvements. There is an outstanding mortgage on the Ocala building of $690,000. There are no outstanding mortgages on the Perrysburg building.
The Consolidated Financial Statements of Brown & Brown, Inc. and its subsidiaries, together with the report thereon of Arthur Andersen LLP appearing on pages 22-38 of the Company's 1999 Annual Report to Shareholders, are incorporated herein by reference.
Unitrin's subsidiary, United, owns the 41-story office building at One East Wacker Drive, Chicago, Illinois, that houses the executive offices of Unitrin and United. Unitrin and United occupy approximately 97,000 square feet of the 527,000 rentable square feet in the building. In addition, Unitrin subsidiaries together own 18 buildings located in 11 states consisting of approximately 324,000 square feet in the aggregate.
The Unitrin Life and Health Insurance Group leases facilities with aggregate square footage of approximately 301,000 at 173 locations in 23 states. The latest expiration date of the existing leases is October 2006.
The Unitrin Property and Casualty Insurance Group leases facilities with an aggregate square footage of approximately 399,000 at 14 locations in 9 states. The latest expiration date of the existing leases is July 2007.
Fireside Thrift occupies 41 leased facilities with an aggregate square footage of approximately 157,000 in California, Arizona, and Oregon (including consumer finance branches and main office buildings). The latest expiration date of the existing leases is September 2008.
Selected consolidated financial data for the five years ended December 31, 2000 is incorporated herein by reference to the data captioned "Financial Highlights" and filed as Exhibit 13.3 hereto.
Incorporated by reference, Annual Report to Shareholders for the year ended December 31, 1993, pages 23-24.
Incorporated by reference, Annual Report to Shareholders for the year ended December 31, 1993, pages 35-57.
Other buildings owned and occupied include service facilities in Redmond, Washington and Indianapolis, Indiana, as well as regional and branch offices in Fountain Valley and Pleasant Hill, California; Denver, Colorado; Carol Stream, Illinois; St. Louis, Missouri; Cincinnati, Ohio; Portland, Oregon; Mountlake Terrace, Redmond and Spokane, Washington. These buildings comprise approximately 1,600,000 gross square feet. All other branch and service offices occupy leased premises comprising approximately 2,500,000 square feet, generally for periods of five years or less.
Pages 33 through 47 of the 2000 Annual Report to Shareholders are incorporated herein by reference.