felanders/preprocessed huggingface dataset:
GCR leases office space in Bermuda at which its executive offices are located. GCR's principal executive offices are located at Sofia House, 48 Church Street, Hamilton HM 12, Bermuda and its telephone number is (441) 292 9415.
The selected consolidated financial data of GCR as of September 30, 1996, 1995 and 1994 and for the fiscal years ended September 30, 1996, 1995 and 1994 are included on page 4 under the caption "Financial Highlights" in the Company's Annual Report to Shareholders for the fiscal year ended September 30, 1996 and are incorporated herein by reference in response to this item.
This item is incorporated by reference to "Management's Discussion and Analysis of Results of Operations and Financial Condition" contained on pages 11 to 16 in the Company's Annual Report to Shareholders for the fiscal year ended September 30, 1996.
Incorporated herein by reference from the 1994 Annual Report to Stockholders, page 22.
Consolidated financial statements of the Corporation at December 31, 1994 and 1993 and for each of the three years in the period ended December 31, 1994 and the auditor's report thereon and the Corporation's unaudited quarterly financial data for the two year period ended December 31, 1994 are incorporated herein by reference from the 1994 Annual Report to Stockholders, pages 6 through 18 and 21.
PROPERTIES ---------- CFC-I owns a fully leased 85,000 square feet office building in downtown Cincinnati that is currently leased to Procter and Gamble Company, an unaffiliated company, on a net, net, net lease basis. This property is carried in the financial statements at $634,298 as of December 31, 1995.
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 $12,450,028 as of December 31, 1995.
SELECTED FINANCIAL DATA ----------------------- This information is included in the Annual Report of the Registrant to its shareholders on pages 18 and 19 for the year ended December 31, 1995 and is incorporated herein by reference (see Exhibit 13 to this filing).
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND --------------------------------------------------------------- RESULTS OF OPERATIONS --------------------- This information is included in the Annual Report of the Registrant to its shareholders on pages 30 through 32 for the year ended December 31, 1995 and is incorporated herein by reference (see Exhibit 13 to this filing).
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ------------------------------------------- (a) Financial Statements The following consolidated financial statements of the Registrant and its subsidiaries, included in the Annual Report of the Registrant to its shareholders on pages 19 to 30 for the year ended December 31, 1995, are incorporated herein by reference (see Exhibit 13 to this filing).
Independent Auditors' Report Consolidated Balance Sheets--December 31, 1995 and 1994 Consolidated Statements of Income--Years ended December 31, 1995, 1994, and 1993 Consolidated Statements of Shareholders' Equity--Years ended December 31, 1995, 1994, and 1993 Consolidated Statements of Cash Flows--Years ended December 31, 1995, 1994, and 1993.
PROPERTIES KCL’s home office is located at 3520 Broadway in Kansas City, Missouri. The Company owns and wholly occupies two five story buildings on an eight acre site.
Unitrin owns the 41-story office building at One East Wacker Drive, Chicago, Illinois, that houses the executive offices of Unitrin. Unitrin occupies approximately 57,000 square feet of the 527,000 rentable square feet in the building. In addition, Unitrin subsidiaries together own 7 buildings located in 5 states consisting of approximately 20,800 square feet in the aggregate. Unitrin subsidiaries hold additional properties solely for investment purposes that are not utilized by the Company or its subsidiaries.
Unitrin’s Life and Health Insurance segment leases facilities with aggregate square footage of approximately 543,000 at 139 locations in 26 states. The latest expiration date of the existing leases is in January 2015.
Kemper Auto and Home leases facilities with an aggregate square footage of approximately 244,000 at 9 locations in 7 states. The latest expiration date of the existing leases is in May 2011.
Unitrin Business Insurance leases facilities with an aggregate square footage of approximately 193,500 at 3 locations in 3 states. The latest expiration date of the existing leases is in March 2018.
Consumer Finance occupies 36 leased facilities with an aggregate square footage of approximately 204,500 in 8 states (including consumer finance branches and main office buildings). The latest expiration date of the existing leases is in August 2016.
Unitrin’s corporate data processing operation occupies a facility with an aggregate square footage of approximately 30,500 square feet under a lease that expires in December 2014.
Southern States General Agency leases facilities with an aggregate square footage of approximately 8,000 at 1 location in 1 state. The latest expiration date of the existing lease is in December 2007.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. - ------ ------------------------------------------- The consolidated financial statements from the Company's annual report to stockholders for the year ended December 31, 1997, which is included as Exhibit (13)(C) to this Form 10-K Report, are incorporated herein by reference.
The Company operates from offices in almost 50 countries around the world. In Bermuda, the Company leases its principal offices from a joint venture company in which the Company has a 40 percent interest and there is an agreement with the joint venture partner which ensures the Company's ability to occupy a portion of the building until 2011. The Company is currently building new corporate headquarters in Bermuda that will house its Bermuda-based operations. It is expected that this facility will be available early in 2001. As part of the Company's acquisition of ACE INA, ACE assumed the lease of Two Liberty Place, in Philadelphia, which consists of approximately 1.25 million total square feet, and various other leases and properties in the US and other countries. The majority of all office facilities throughout the world, that are occupied by the Company and its subsidiaries, are leased.
Selected financial data for the year ended December 31, 1999, the three month period ended December 31, 1998 and the four years ended September 30, 1998 is incorporated by reference to page 1 of exhibit 13.1 filed with this Form 10-K.
This item is incorporated by reference to pages 37 through 79 of the 1999 Annual Report to Shareholders filed with this Form 10-K.
We own a two-story, 80,000 square foot building in Peoria, Illinois, which serves as our corporate headquarters.
Located on the same 15 acre campus is a 12,800 square foot building. We use nearly 9,800 square feet of this building as warehouse storage for records and equipment. We use the remaining 3,000 square feet as office/conference space.
Refer to the Management’s Discussion and Analysis of Financial Condition and Results of Operations on pages 17 through 43 of the Annual Report to Shareholders for the year ended December 31, 2002 attached in Exhibit 13. 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 18 through 20 of the Annual Report to Shareholders attached in Exhibit 13.
Refer to the consolidated financial statements and supplementary data included on pages 44 through 80 of the Annual Report to Shareholders for the year ended December 31, 2002 attached in Exhibit 13. (See Index to Financial Statements and Schedules attached on page 27.)
Management's Discussion and Analysis of financial condition and results of operations appears on pages 4-13 in the Annual Report to the Stockholders for the year ended December 31, 2008, and is incorporated herein by reference.
The financial statements and notes appear on pages 15-35 in the Annual Report to the Stockholders for the year ended December 31, 2008 and are incorporated herein by reference. See Part IV, Item 15.
"Management's Discussion and Analysis of Financial Condition and Results of Operations" on pages 3 through 8 of DHC's 2001 Annual Report to Stockholders (included as an exhibit hereto) is incorporated herein by reference.
The Consolidated Financial Statements of DHC and its subsidiaries, together with the Notes thereto, and "Quarterly Financial Data," included on pages 9 through 12, 13 through 24, and 26, respectively, of DHC's 2001 Annual Report to Stockholders (included as an exhibit hereto), are incorporated herein by reference.
Miami, FL 33127. We have a 2- year lease at a cost of $3,095 per month.
We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.
Costs of sales was $107,196 for the year ended December 31, 2017 or 52.5% of revenues. The cost of sales was $50,512, or 24.0% of revenues for the current year ended December 31, 2016. Cost of sales includes the costs directly attributable to revenue recognition, such as equipment costs, purchased costs, and payments to vendors.
We had other expenses of $4,534,539 for the year ended December 31, 2017 compared to other expenses of $0 during the year ended December 31, 2016. The increase is mainly due to a change in derivative liabilities of $4,224,631.
Net cash used in operating activities was $467,938 during the current year ended December 31, 2017. Negative cash flow from operation during the current year end December 31, 2017 was due to the net loss of $8,666,282, offset by the common stock issued for compensation of $71,250, Series A preferred stock issued for $2,811,782, loss on derivative liabilities by $4,224,631, depreciation expense of $16,402, the increase in accounts payable and accrued expenses in amount of $83,286, the increase in payroll and related liabilities of $142,945, and the increase in accrued interest of $37,800.
Net cash provided by financing activities was $608,421 for the current fiscal year ended December 31, 2017 primarily due to proceeds from convertible notes of $583,750, proceeds from related party loans payable of $41,526 and repayments towards related party loans payable of $121,775.
Sales are recorded at the time title of goods sold passes to customers, which based on shipping terms, which generally occurs when the product is shipped to the customer and collectability is reasonably assured. Sales are presented net of discounts and allowances. Discounts and allowances are determined when a sale is negotiated. The Company does not grant price adjustments after a sale is complete.
Our audited financial statements are included following the signature page to this Form 10K.
The Company leases office space, which as of February 10, 2000, totaled approximately 14,719 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 1,400 square feet. The lease provides for a monthly gross rental of $2,150. 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 branches lease office space in Cleveland, Cincinnati and Marion, Ohio occupying approximately 2,929 square feet. These four leases provide for a monthly gross rental of $7,468. Paul Boardway and Associates owns both real and personal property consisting of an office facility with 1,232 square feet on approximately one acre of land in Mayfield, New York.
The information required by this item is included under the caption "Selected Financial Data" in the Company's Annual Report and is incorporated herein by reference.
The Company's physical properties consist primarily of leases of commercial office space. As of December 31, 2000, the Company leased approximately 346,000 square feet of office space, including approximately 228,000 square feet at its three primary locations, Dallas, London, and Minneapolis. The Company considers its properties to be adequate for its present and reasonably foreseeable requirements.
The information required by Item 6 is incorporated herein by reference to the section entitled "Six Year Financial Summary" on page 3 of the Company's 2000 Annual Report to Shareholders.
The information required by Item 7 is incorporated herein by reference to the section entitled "Management's Discussion and Analysis" on pages 4 through 11 of the Company's 2000 Annual Report to Shareholders.
The information required by Item 7(a) is incorporated herein by reference to the section entitled "Market Risk" on page 10 of the Company's 2000 Annual Report to Shareholders.
Gallagher’s executive offices and certain subsidiary and branch facilities are located at Two Pierce Place, Itasca, Illinois, where Gallagher leases approximately 265,000 square feet of space. The lease commitment on this property expires February 28, 2006. Gallagher has a 60% ownership interest in the limited partnership that owns the Two Pierce Place property. This investment is consolidated into Gallagher’s Consolidated Financial Statements. See Note 3, Note 7 and Note 16 to the Consolidated Financial Statements of Gallagher’s 2004 Financial Statements, which are incorporated herein by reference for additional information with respect to this ownership interest.
Gallagher generally operates in leased premises. Certain office space leases have options permitting renewals for additional periods. In addition to minimum fixed rentals, a number of leases contain annual escalation clauses generally related to increases in an inflation index. See Note 16 to the Consolidated Financial Statements of Gallagher’s 2004 Financial Statements, which is incorporated herein by reference for information with respect to Gallagher’s lease commitments at December 31, 2004.
(4) Represents annual net earnings divided by stockholders’ equity as of the beginning of the year.
The principal office of the Corporation is located at 3901 West Broad Street, Richmond, Virginia 23230, which also serves as the home office premises of the Life Company. The home office building, which contains approximately 110,000 square feet of office space, was originally completed in 1950 with a 30,000 square foot addition completed in 1990. The building is used solely for company purposes.
Incorporated herein by reference from the 1993 Annual Report to Stockholders, page 22.
Incorporated herein by reference from the 1993 Annual Report to Stockholders, pages 4, 5, 19 and 20.
Financial position of the Company. CAPITAL fully subscribed (25 «/o paid-up) Frs. 10,000,000. —
lary and Fidelity Guarantee Depä Premium Reserve Reserve for outstanding losses and pro­
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 o! management . . Taxes Amortisation on Securities and on House Property Net profit
Capital (5000 shares of Fr. 2000 each) . Reserve Fund Special Reserve Due to other Companies Due to Companies for Reserves retained on retrocessions Sundry creditors Reserves, Fire, Liability, Accident, Marine, Burglary and Fidelity Guarantee Dept|i; for unexpired risks Fr. 12,629,943. — for outstanding losses , 12,964,255. —
Reserves, Life Dept-: • Premium Reserve Fr. 40,884,289. — Annuity Fund . , 4,140,880. — Reserve for outstanding losses . ... • . • • 564,880. —
Balance of Profit and Loss Account . . . ... ...
Board of Directors: J. R. Hanhart, Chairman Zurich. D'^ E. Welti, Deputy-chairman Berne. Ed. Leicht Zurich. 0. StUnzi - Baumann . »
The Company owns two adjacent office buildings and property located on the corner of North Columbia and West Rosemary Streets in Chapel Hill, North Carolina, which serves as the Company's corporate headquarters. The main building contains approximately 23,000 square feet and has on-site parking facilities. The Company's principal subsidiary, ITIC, leases office space in 33 locations throughout North Carolina, South Carolina, Michigan, Nebraska and Tennessee. NE-ITIC leases office space in one location in New York. Each of the office facilities occupied by the Company and its subsidiaries are in good condition and adequate for present operations, although the Company may look at additional space in Chapel Hill in 2004 in order to meet its future needs.
The selected financial data for the last five fiscal years of the Company and its subsidiaries is set forth under the caption "Financial Highlights" in the 2003 Annual Report to Shareholders and is incorporated by reference in this Form 10-K Annual Report. The information should be read in conjunction with the Consolidated Financial Statements, Notes to Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations in the 2003 Annual Report to Shareholders, which are incorporated by reference in this Form 10-K Annual Report.
Management's Discussion and Analysis of Financial Condition and Results of Operations in the 2003 Annual Report to Shareholders is incorporated by reference in this Form 10-K Annual Report.
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 2003 Annual Report to Shareholders is incorporated by reference in this Form 10-K Annual Report.
The information under the heading "Selected Financial and Statistical Data" as set forth on pages 26-27 of the Company's 2001 Annual Report to Shareholders is incorporated by reference.
The information under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations" as set forth on pages 28-37 of the Company's 2001 Annual Report to Shareholders is incorporated by reference.
The consolidated financial statements of the Company, the Report of Independent Accountants thereon by PricewaterhouseCoopers LLP and the unaudited "Quarterly Financial Information" are set forth on pages 38-60 of the Company's 2001 Annual Report to Shareholders and are incorporated by reference.
The Company’s principal executive office is located in Irvine, California in approximately 6,600 square feet of leased space. The lease expires in September 2007. The Company leases its branch offices in 49 states, which range in size from 1,000 square feet up to approximately 16,000 square feet. The lease terms for the branch offices range from monthly to ten years and expire through 2014. The Company believes that its facilities are adequate for its current needs and that suitable additional space will be available as required.
The selected consolidated financial data of the Company appears in a separate section of this Annual Report on Form 10-K on page 46 and is incorporated herein by this reference.
See the information in 'Reliance Insurance Company and Subsidiaries Financial Review' on pages 26 through 32 of the Reliance Insurance Group's 1994 Annual Report, which information is incorporated herein by reference.
The financial statements of the Company and its consolidated subsidiaries, included on pages 1 through 22 of the Reliance Insurance Group's 1994 Annual Report, which information is incorporated herein by reference, are listed in Item 14 below.
Selected Financial Data for the Company is contained on page 40 of The Liberty Corporation Annual Report to Shareholders and is filed as Exhibit 13 on page 30 of this report and is incorporated in this Item 6 by reference.
Fire and Marine owns our corporate headquarters buildings, located at 385 Washington Street and 130 West Sixth Street, St. Paul, MN. These buildings are adjacent to one another and consist of approximately 1.1 million square feet of gross floor space. Fire and Marine also owns property in Woodbury, MN where its Administrative Services Building and off-site computer processing operations are located. Fire and Marine also owns the former USF&G headquarters campus known as Mount Washington Center, located in Baltimore, MD. The campus currently houses offices for certain executives of The St. Paul, as well as offices for certain underwriting, legal and claim personnel. A training and development center also resides on the Mount Washington campus. Fire and Marine has leased a substantial portion of one of the buildings on the campus to an outside party. At the end of January 2003, we signed a nonbinding letter of intent to sell the entire Mount Washington Center campus. In the event that potential sale occurs, we expect to lease back a portion of the property until September 30, 2004.
Fire and Marine and its subsidiary, St. Paul Properties, Inc., own a portfolio of income-producing properties in various locations across the United States that they have purchased for investment. Included in this portfolio are four office buildings in which we hold a 50% ownership interest located on Manhattan Island in New York, NY which collectively accounted for approximately 7% of the carrying value of the property portfolio at December 31, 2002.
Pursuant to an administrative services agreement with American International Company, Limited ("AICL"), a wholly-owned subsidiary of AIG, the Company and IPCRe are allocated office space in AICL's building in Bermuda and the Company's principal executive offices are located there. The address of the principal executive offices is American International Building, 29 Richmond Road, Pembroke HM 08, Bermuda and our telephone number is (441) 298-5100.
(3) Dividend per common share is based on the number of average outstanding common shares during the years ended December 31, 2000, 1999, 1998, 1997 and 1996, respectively.
(6) Book value per common share is based on the number of common shares outstanding on the relevant date (after giving effect to the Exchange), after considering the effect of the AIG Option as of each date presented and after considering the effect of options granted to employees, calculated on the basis described in note (2) above.
The information required for this item is incorporated herein by reference to the consolidated financial statements of the Company contained in the Annual Report.
As of March 1, 2006 CIGNA's headquarters will be joining CIGNA Group Insurance, CIGNA International, portions of CIGNA HealthCare and CIGNA's staff support operations in leased premises of approximately 450,000 square feet at Two Liberty Place, Philadelphia. CIGNA HealthCare is the primary occupant of a complex of buildings owned by CIGNA, aggregating approximately 1.5 million square feet of office space, located at 900-950 Cottage Grove Road, Bloomfield, Connecticut. In addition, CIGNA owns or leases office buildings, or parts thereof, throughout the United States and in other countries. CIGNA believes its properties are adequate and suitable for its business as presently conducted. For additional information concerning leases and property, see Notes 2(H) and 18 to CIGNA's 2005 Financial Statements included in its 2005 Annual Report. This paragraph does not include information on investment properties.
CIGNA’s Consolidated Financial Statements and the report of its independent registered public accounting firm in CIGNA’s 2005 Annual Report are incorporated by reference, as is the unaudited information set forth under the caption “Quarterly Financial Data--Consolidated Results.”
Trenwick Group Ltd.'s corporate headquarters and LaSalle Re Limited's operations are located in approximately 10,000 square feet of leased office space in Hamilton, Bermuda. Trenwick Group Ltd.'s United States operations are located in approximately 46,000 total square feet of leased office space at Stamford, Connecticut. Trenwick International Limited and Chartwell Managing Agents Limited leases approximately 29,000 square feet of space in London, England and Trenwick International Limited also leases 875 square feet of office space in Paris, France. Management believes Trenwick Group Ltd.'s current office space is adequate for its needs.
The information called for by this item can be found in Trenwick Group Ltd.'s 2001 Annual Report to Shareholders under the captions "Five Year Summary" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and is 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 135,000 square feet of the 527,000 rentable square feet in the building. In addition, Unitrin subsidiaries together own 29 buildings located in 10 states consisting of approximately 498,000 square feet in the aggregate.
Fireside Thrift occupies 38 leased facilities (including consumer finance branches and main office buildings) with an aggregate square footage of approximately 148,000. The latest expiration date of the existing leases is December 2007.
The properties described above are in good condition and suitable for all presently anticipated requirements of the Company.
Selected consolidated financial data for the five years ended December 31, 1998 is incorporated herein by reference to the data captioned "Financial Highlights" on page 1 of Unitrin's 1998 Annual Report, which data are filed as Exhibit 13.3 hereto.
The Company recently entered into a lease for approximately 116,000 square feet of space at its corporate headquarters in Philadelphia, which runs from September 2003 until August 2015. The Company also leases approximately 29,000 square feet of space in Philadelphia under a lease that will expire in August 2003, and, upon the expiration of such lease the Company plans to relocate the operations housed under such lease into its corporate headquarters. In addition, the Company leases: (1) space for its mortgage insurance regional offices, service centers and on-site offices throughout the United States comprising approximately 45,000 square feet with leases expiring between 2003 and 2007; (2) space for RadianExpress.com in Ohio comprising approximately 16,000 square feet, under a lease expiring in 2006; (3) space for its financial guaranty operations in New York comprising approximately 121,000 square feet, under a lease expiring in 2015, approximately 55,000 square feet of which the Company subleases to others; and (4) space for its UK operations in London comprising approximately 6,500 square feet, under a lease expiring in 2012. With respect to all facilities, the Company believes it will be able to obtain satisfactory lease renewal terms.
The Company currently maintains four data centers and two disaster recovery sites to support its businesses. Over the next two years, the Company will be replacing its legacy systems that currently support accounting, claims, risk management, underwriting and other non-insurance operations. The Company’s strategic direction for all new system development is to deploy 100% web-based custom or off-the-shelf software on a Unix and Windows 2000 platform. PeopleSoft Financial Systems is currently installed and operational for the Company. The Company built a new data center in Dayton, Ohio in 2002, for which it began leasing approximately 27,360 square feet of space in June 2002 under a 10-year lease. Two separate fiber optic feeds serve this data center. The center is cabled for two separate power grids and has sufficient diesel standby generator power to power the data center and personal work areas for critical staff. The corporate headquarters in Philadelphia is the disaster recovery site for all operations. Over the next year, the Company will migrate its operations from the current New York site to the data center in Ohio and the two existing disaster recovery sites to the Philadelphia disaster recovery site. This will ensure continuous availability at the Dayton site and full business recovery capability at the Philadelphia data center.
AFLAC owns land and buildings that comprise two primary campuses located in Columbus, Georgia. The first campus, located on approximately 54 acres of land, includes buildings that serve as our worldwide headquarters and house administrative support functions for our U.S. operations. The approximate square footage of this campus is 600,000 square feet. The second campus, located on approximately 104 acres of land, includes a building with approximately 270,000 square feet that provides additional support functions for our U.S. operations.
In Tokyo, Japan, AFLAC owns an administrative office building and a training facility with approximately 344,000 square feet. AFLAC also leases additional office space in Tokyo along with regional sales offices located throughout the country.
The Company’s corporate headquarters are 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 1.6 million square feet of office space, including a .2 million square foot building added in 2004.
The Company leases approximately 1.2 million square feet of office and warehouse space at various locations throughout the United States for its business units and corporate functions. In addition, the Company leases approximately 450 claims offices, consisting of approximately 3.4 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.
Incorporated by reference from Management’s Discussion and Analysis of Financial Condition and Results of Operations beginning on page App.-B-26 of the Annual Report, which is included as Exhibit 13 to this Form 10-K.
The Consolidated Financial Statements of the Company, along with the related notes, supplementary data and report of the independent registered public accounting firm, are incorporated by reference from the Annual Report, which is included as Exhibit 13 to this Form 10-K.
Balance carried to next year's account 13,994.60 TOTAL FUNDS Frs. 170,220,996.50
Premium Reserve from 1917 .... Reserve for unsettled Claims from 1917 Premiums, less cancellations ....
Life DepL. Premium Reserve from 1917 . . Annuity Fund from 1917 Reserve for unsettled Claims from 1917 . . \ . . Premiums, less cancellations . ' . .; Consideration for Annuities, less Retrocession . . . Interest Interest, after deduction of interest due to Life Dept-
Life DepL. Premiums for Retrocession . . . Commissions and Expenses, less Retrocession . Surrenders, less Retrocession Losses paid, less Retrocession Annuities paid, less Retrocession . . . . Premium Reserve, less Retrocession . . Annuity Fund, less Retrocession . . Reserve for unsettled Claims, less Retrocession ... . . . Expenses of Management . ..... . . Taxes . . . . Written off for depreciation of investments . . .... . .. . Net Profit. . • .
Distribution of Profit: „ 240.000. — Staff Insurance and Pension Fund. „ 1,500,000. — Dividends. „ 325,000. — Directors and Management. n 13,994. 60 Balance carried to next year's account.
Fire, Hail, Liability, Accident, Burglary, Fidelity, Surety and Marine Depl|; Premium Reserve Frs. 31,143,398.49 Reserve for unsettled Claims . „ 21,107,816.41 Reserve for extraordinary Losses ...... . , 7,500,000. - 59,751,214 90
Life DeptPremium Reserve ........... . Frs. 76,636,142.— Annuity Fund . . i . . >. . , 4,551,794 — Reserve for unsettled Claims . ... ... . „ 3,067,851. - 84,255,787 —
Shareholders' Liability 15,000,000 House Property . . . . ... . . . . . . . .' Frs. 2,500,000.— Mortgages \ ... , 38,604,846.35 Government and other Securities , 40,871,763.05 Life and other funds deposited with ceding Companies . . , 70,499,065.23 Bank Balances , 9,530,662.35 Cash in hand . , 33,836.01 162,040,172 99
Due by other Companies and Sundry Debtors . . . . 44,066,995 26 Accrued Interest . 997,980 79
Cadre maintains its principal executive office at 905 Marconi Avenue, Ronkonkoma, New York 11779. The office building was acquired by the Company as part of the acquisition of Cadre. It consists of approximately 15,000 square feet of office space and storage.
The 1997 Consolidated Financial Statements, together with the Notes thereto and the Independent Auditors' Report thereon, are set forth on pages 30 through 51 of the Company's 1997 Annual Report to Stockholders. Such information is incorporated herein by reference.
Management’s Discussion and Analysis of Financial Condition and Results of Operations is set forth under the same caption on pages 18 through 38 of Ambac Financial Group’s 2004 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 42 through 69 of such Annual Report.
Mid Ocean leases office space in Richmond House, Hamilton, Bermuda, at which the Company's principal offices are located. Mid Ocean also leases office space in the London Underwriting Centre, London, England, at which its London branch office is located. In addition, Mid Ocean leases office space at 6 Raffles Quay, John Hancock Tower, Singapore at which its Singapore branch is located. Office space is also leased at Bavariaring 44, Munich, Germany where Mid Ocean Reinsurance Consulting GmbH is located. The Brockbank group leases office space at Fitzwilliam House and Rood Lane, London where its principal offices are located. Other Brockbank operations lease space in Cardiff and Swansea, Wales and Haywards Heath, England.
- SELECTED FINANCIAL DATA This item is incorporated by reference to the Selected Financial Data table contained in the 1996 Annual Report.
- FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA This item is incorporated by reference to the financial statements in the 1996 Annual Report.
The five-year financial information under the caption "Selected Consolidated Financial Data" on page 65 of the Company's 1999 Annual Report is incorporated herein by reference.
The information on pages 5 through 29 of the Company's 1999 Annual Report is incorporated herein by reference.
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. Currently the Company is in the process of constructing two new office buildings, totaling 160,000 square feet in Pittsburgh, Pennsylvania and Tucson, Arizona. Additionally, the Company leases significant office space in the Salt Lake City, Utah; Milwaukee, Wisconsin; Richmond, Virginia; Pittsburgh, Pennsylvania and Boise, Idaho. The Company also has numerous smaller leased facilities throughout the nation.
The information required by this item is set forth under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's 2000 Annual Report to Stockholders and is incorporated herein by reference.
The financial statements required by this item are contained in the Company's 2000 Annual Report to Stockholders on the pages indicated below and are incorporated herein by reference.
Consolidated Balance Sheets as of December 31, 1999 and 2000 34-35
Selected financial data for each of our last five fiscal years is set forth under "Selected Financial Data" in our 2001 Annual Report to Stockholders. Such information is incorporated herein by reference.
Management's Discussion and Analysis of Financial Condition and --------------------------------------------------------------- Results of Operation. --------------------
The financial statements required by this item are contained in our 2001 Annual Report to Stockholders on the pages indicated below and are incorporated herein by reference.
Consolidated Balance Sheets as of December 31, 2000 and 2001 34-35
Consolidated Statements of Operations for the Years Ended December 31, 1999, 2000 and 2001 36
Consolidated Statements of Stockholders' Equity for the Years Ended December 31, 1999, 2000 and 2001 40-41
The information set forth under the caption "Selected Financial Data" in the Annual Report to Shareholders of Argonaut Group for the fiscal year ended December 31, 1998, is incorporated herein by reference. See Exhibit Index.
On October 19, 1998, the Year 2000 Information and Readiness Disclosure Act ("Y2K Act")(Pub. L. No. 105-271, 12 Stat. 2386 (1998) to be codified at 15 U.S.C. ss. 1) was enacted into law by President Clinton. The following disclosure is defined by section 3(9) of the Y2K Act.
The Company established a Year 2000 project team in November of 1996 to prepare its computer hardware, operating system software, computer programs, and voice and data communications to address Year 2000 compliance and remediation issues. The Company's external Year 2000 plan covers the information exchange process with vendors and business partners, and includes validating and testing the readiness of its outsource data center service providers.
The total project cost is estimated to be approximately $4.4 million. All costs associated with the project have been expensed as incurred.
Statement of Position ("SOP") 97-3, Accounting by Insurance and Other Enterprises for Insurance-Related Assessments was also issued in 1997. The Company's required adoption date is January 1, 1999. The Company does not anticipate SOP 97-3 to have an impact on its results of operations or financial position.
DGI shares headquarters with the Mutual Company in a building owned by the Mutual Company. The Mutual Company charges DGI for an appropriate portion of the building expenses under an intercompany allocation agreement which is consistent with the terms of the pooling agreement. The headquarters of the Mutual Company has approximately 163,500 square feet of office space. Southern has a facility of approximately 10,000 square feet in Glen Allen, Virginia, which it owns. Delaware Atlantic has a facility of approximately 3,000 square feet in Wilmington, Delaware, which it leases. Pioneer has a facility of approximately 10,000 square feet in Greenville, Ohio, which it owns. Southern Heritage has a facility of approximately 14,000 square feet in Duluth, Georgia, which it leases.
The response to this Item is incorporated by reference to page 1 of the Company's Annual Report to Stockholders for the year ended December 31, 1998, which is included as Exhibit (13) to this Form 10-K Report.
The response to this Item is incorporated by reference to pages 16 through 30 of the Company's Annual Report to Stockholders for the year ended December 31, 1998, which is included as Exhibit (13) to this Form 10-K Report.
Information as to selected financial data is incorporated herein by reference to the material under the heading "Selected Financial Data" in the Company's 1996 Annual Report to Shareholders.
Information as to management's analysis of financial condition and results of operations is incorporated herein by reference to the material under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's 1996 Annual Report to Shareholders.
Board of Directors: Ch. Simon, Chairman, f E. HUrlimann, Deputy-Chairman. Hans Sulzer Max Huber Felix Calender C. J. Ahegg G. Bachmann
We have the honour to present to you the Seventy-eighth Annual Report and Statement of Accounts of the Company for the year 1941.
Whereas in the first two years of the war our premium income suffered a not in­ considerable reduction mainly through the falling off of a large section of Motor business, the past year is marked by a notable increase in premiums in most branches.
With the exception of a single country where the business has run unfavourably for years. Hail Insurance showed a surplus.
In Third Party Liability Insurance the premium income remained almost stationary after the considerable drop experienced in the previous year. There were no particularly heavy losses so that, in spite of the effect of inflation on loss settlements, a profit was obtained, as in the previous jmar, both in Motor Third Party as well as in General Liability business. Premiums paid in advance on laid-up vehicles were again passed to Reserve.
The easy conditions which have been characteristic of the money market since the outbreak of war still remained substantially unchanged in 1941 and led in many countries to a further shrinkage in interest rates. The figure of Interest Earned was however slightly augmented, thanks to the expansion in interest bearing assets, arising out of the general increase in business.
The Profit and Loss Account closes with a profit of . . Frs. 11,269,256.45 which at the General Meeting of the Shareholders it was decided to distribute as follows: Staff Life Insurance and Pension Fund . . . . . Frs. 500,000. — Dividend Frs. 127.70 per share .. . » 7,406,600.— Directors » 127,480.— Social Welfare Contribution » 150,000. — Garry Forward . » 3,085,176.45
PROFIT AND LOSS ACCOUNT for the year ending 31st December, 1941.
Premium Reserve from 1940 . . Reserve for Unsettled Claims from 1940 ........ Reserve for Extraordinary Losses Premiums, less cancellations Era. 210,382,146.62 Premiums for which no reserve is necessary , 41,529,080.56
Our home office complex is located in Northbrook, Illinois. The complex consists of three buildings totaling approximately two million square feet of office space on a 185-acre site.
We also operate from approximately 1,600 administrative, data processing, claims handling and other support facilities in North America, Europe and the Far East. Approximately 5,600,000 square feet are owned and 8,840,000 are leased. Only major facilities are owned and these are in the United States and Canada. In almost all cases, lease terms are for five years or less.
We lease and operate our customer information centers in Vernon Hills and Woodridge, Illinois. We own the customer information center that we operate in Charlotte, North Carolina. A non-affiliate leases and operates the customer information center in Stockton, California.
The locations out of which the Allstate exclusive agencies operate in the U.S. are normally leased by the agencies.
Incorporated in this Item 6 by reference to "11-Year Summary of Selected Financial Data" beginning on page D-2 of Appendix D to the Proxy Statement.
We and Atlantic States share headquarters with the Mutual Company in a building owned by the Mutual Company. The Mutual Company charges us for an appropriate portion of the building expenses under an inter-company allocation agreement that is consistent with the terms of the pooling agreement. The headquarters of the Mutual Company has approximately 172,600 square feet of office space. Southern owns a facility of approximately 10,000 square feet in Glen Allen, Virginia. Le Mars owns a facility of approximately 25,500 square feet in Le Mars, Iowa and Peninsula owns a facility of approximately 14,600 square feet in Salisbury, Maryland.
The response to this Item is incorporated by reference to page 8 of our Annual Report to Stockholders for the year ended December 31, 2003, which is included as Exhibit (13) to this Form 10-K Report.
The historical consolidated financial data presented below as of and for each of the periods ended December 31, 1997, 1996, 1995 and 1994 were derived from the Company's consolidated financial statements which are incorporated herein by reference to the Annual Report. The selected consolidated financial data should be read in conjunction with the Company's consolidated financial statements and related notes thereto, and with "Management's Discussion and Analysis of Financial Condition and Results of Operations" also contained in the Annual Report and incorporated herein by reference.
(3) Dividend per Common Share is based on the number of average outstanding Common Shares during the years ended December 31, 1997 and 1996, respectively.
All of our properties are owned or leased by subsidiaries of The Progressive Corporation. Progressive’s corporate headquarters is located on a 42-acre parcel in Mayfield Village, Ohio. We also have a 72-acre corporate office complex near the headquarters. Buildings on these two sites contain approximately 1.6 million square feet of office space.
We also own: seven other buildings in Cleveland, Ohio suburbs near the corporate office complexes; four buildings in Tampa, Florida; five buildings in Colorado Springs, Colorado; and a building in each of the following cities: Albany, New York; Ft. Lauderdale, Florida; Plymouth Meeting, Pennsylvania; Tempe, Arizona; and Tigard, Oregon. Two of these buildings are partially leased to non-affiliates. In total, these buildings contain approximately 2.0 million square feet of office, warehouse, and training facility space. These facilities are occupied by our business units or other supporting operations and are not segregated by segment. We also own 57 acres of vacant land in Mayfield Village and 15 acres in Colorado Springs near our corporate facilities, which are available for possible future development.
We lease approximately 1.2 million square feet of office and warehouse space at various locations throughout the United States, and one location in Australia, for our business units and corporate functions. In addition, we lease approximately 370 claims offices, consisting of approximately 2.8 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.
All per share amounts were adjusted for the May 18, 2006, 4-for-1 stock split.
The member companies of the Erie Insurance Group (the Company and our subsidiaries, the Exchange and its subsidiary and EFL) share a corporate home office complex in Erie, Pennsylvania, which is comprised of 497,000 square feet. The home office complex is owned by the Exchange. We are charged rent expense for the related square footage we occupy.
The remaining 16 field offices are leased from various unaffiliated parties. In addition to these field offices, we lease a warehouse facility from an unaffiliated party. During 2003, we 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. During 2005, we entered into a lease for office space for our corporate financial personnel. Total lease payments to external parties amounted to $3.1 million in 2006. Lease commitments for these properties expire periodically through 2011.
Reference is made to “Selected Consolidated Financial Data” in the 2006 Annual Report.
Reference is made to the “Consolidated Financial Statements” and the “Quarterly Results of Operations” contained in the “Notes to Consolidated Financial Statements” in the 2006 Annual Report.