Mercury Insurance 2014 Annual Report Download - page 49
Download and view the complete annual report
Please find page 49 of the 2014 Mercury Insurance annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.
/RVV UDWLR
([SHQVHUDWLR
&RPELQHGUDWLR
BBBBBBBBBB
&RPELQHG UDWLR IRU GRHVQRW VXP GXH WRURXQGLQJ
/RVV UDWLR LV FDOFXODWHG E\ GLYLGLQJ ORVVHV DQG ORVV DGMXVWPHQW H[SHQVHV E\ QHW SUHPLXPV HDUQHG 7KH &RPSDQ\µV ORVV UDWLR
ZDV DIIHFWHG E\ IDYRUDEOH GHYHORSPHQW RI DSSUR[LPDWHO\ PLOOLRQ DQG XQIDYRUDEOH GHYHORSPHQW RI DSSUR[LPDWHO\ PLOOLRQ
RQ SULRU DFFLGHQW \HDUVµORVVHV DQG ORVV DGMXVWPHQW H[SHQVH UHVHUYHV IRU WKH \HDUV HQGHG 'HFHPEHU DQG UHVSHFWLYHO\
7KH IDYRUDEOH GHYHORSPHQW LQ ZDV SULPDULO\ IURP &DOLIRUQLD SHUVRQDO DXWR OLQHV RI EXVLQHVV SDUWLDOO\ RIIVHW E\ DGYHUVH
GHYHORSPHQW LQ RWKHU VWDWHV 7KH XQIDYRUDEOH GHYHORSPHQW LQ ZDV SULPDULO\ IURP WKH )ORULGD SULYDWH SDVVHQJHU DXWRPRELOH
OLQH RI EXVLQHVV 7KH ORVV UDWLR ZDV DOVR QHJDWLYHO\ LPSDFWHG E\ D WRWDO RI PLOOLRQ RI FDWDVWURSKH ORVVHV PRVWO\ GXH WR
ZLQWHU IUHH]H HYHQWV RQ WKH (DVW &RDVW DQG KRPHRZQHUV ORVVHV LQ &DOLIRUQLD IURP VHYHUH UDLQVWRUPV GXULQJ 7KH ORVV
UDWLR ZDV DOVR QHJDWLYHO\ LPSDFWHG E\ D WRWDO RI PLOOLRQ RI FDWDVWURSKH ORVVHV PRVWO\ GXH WR WRUQDGRHV LQ 2NODKRPD DQG VHYHUH
VWRUPV LQ WKH 0LGZHVW DQG 6RXWKHDVW UHJLRQV GXULQJ ([FOXGLQJ WKH HIIHFW RI HVWLPDWHG SULRU SHULRGVµ ORVV GHYHORSPHQW DQG
FDWDVWURSKH ORVVHV WKH ORVV UDWLR ZDV DQG IRU WKH \HDUV HQGHG 'HFHPEHU DQG UHVSHFWLYHO\ 7KH
&RPSDQ\ DWWULEXWHV WKH LPSURYHG DFFLGHQW \HDU ORVV UDWLR WR WKH LPSDFW RI UDWH LQFUHDVHV ZKLFK H[FHHGHG XQGHUO\LQJ ORVV FRVW
WUHQGV LQ
([SHQVH UDWLR LV FDOFXODWHG E\ GLYLGLQJ WKH VXP RI SROLF\ DFTXLVLWLRQ FRVWV SOXV RWKHU RSHUDWLQJ H[SHQVHV E\ QHW SUHPLXPV
HDUQHG 7KH LQFUHDVH LQ WKH H[SHQVH UDWLR ZDV DIIHFWHG E\ WKH PLOOLRQ SHQDOW\ DVVHVVHG E\ WKH &DOLIRUQLD '2, DV D UHVXOW
RI WKH &DOLIRUQLD ,QVXUDQFH &RPPLVVLRQHUV DGRSWLRQ RI D GHFLVLRQ E\ WKH $/- LQ WKH 11& ([FOXGLQJ WKH HIIHFW RI WKH
&DOLIRUQLD '2, SHQDOW\ DVVHVVPHQW WKH H[SHQVH UDWLR ZDV IRU WKH \HDU HQGHG 'HFHPEHU
&RPELQHG UDWLR LV HTXDO WR ORVV UDWLR SOXV H[SHQVH UDWLR DQG LV WKH NH\ PHDVXUH RI XQGHUZULWLQJ SHUIRUPDQFH WUDGLWLRQDOO\
XVHG LQ WKH SURSHUW\ DQG FDVXDOW\ LQVXUDQFH LQGXVWU\ $ FRPELQHG UDWLR XQGHU JHQHUDOO\ UHIOHFWV SURILWDEOH XQGHUZULWLQJ
UHVXOWV DQG D FRPELQHG UDWLR RYHU JHQHUDOO\ UHIOHFWV XQSURILWDEOH XQGHUZULWLQJ UHVXOWV
,QFRPH WD[ H[SHQVH ZDV PLOOLRQ DQG PLOOLRQ IRU WKH \HDUV HQGHG 'HFHPEHU DQG UHVSHFWLYHO\
7KH LQFUHDVH LQ LQFRPH WD[ H[SHQVH ZDV PDLQO\ GXH WR WKH LQFUHDVH LQ XQGHUZULWLQJ DQG LQYHVWPHQW JDLQV
,QYHVWPHQWV
7KH IROORZLQJ WDEOH SUHVHQWV WKH LQYHVWPHQW UHVXOWV RI WKH &RPSDQ\
$PRXQWV LQWKRXVDQGV
$YHUDJH LQYHVWHGDVVHWV DW FRVW
1HWLQYHVWPHQW LQFRPH
%HIRUH LQFRPH WD[HV
$IWHU LQFRPHWD[HV
$YHUDJHDQQXDO \LHOGRQ LQYHVWPHQWV
%HIRUH LQFRPH WD[HV
$IWHU LQFRPHWD[HV
1HW UHDOL]HGLQYHVWPHQW JDLQV ORVVHV
BBBBBBBBBB
)L[HG PDWXULWLHV DQG VKRUWWHUP ERQGV DW DPRUWL]HG FRVW DQG HTXLWLHV DQG RWKHU VKRUWWHUP LQYHVWPHQWV DW FRVW $YHUDJH
LQYHVWHG DVVHWV DW FRVW LV EDVHG RQ WKH PRQWKO\ DPRUWL]HG FRVW RI WKH LQYHVWHG DVVHWV IRU HDFK UHVSHFWLYH SHULRG
1HW LQYHVWPHQW LQFRPH LQFUHDVHG GXH WR KLJKHU DYHUDJH LQYHVWHG DVVHW EDODQFHV DQG DYHUDJH DQQXDO \LHOG GHFUHDVHG VOLJKWO\
SULPDULO\ GXH WR WKH PDWXULW\ DQG UHSODFHPHQW RI KLJKHU \LHOGLQJ LQYHVWPHQWV SXUFKDVHG ZKHQ PDUNHW LQWHUHVW UDWHV ZHUH
KLJKHU ZLWK ORZHU \LHOGLQJ LQYHVWPHQWV SXUFKDVHG GXULQJ ORZ LQWHUHVW UDWH HQYLURQPHQWV
7KH IROORZLQJ WDEOHV SUHVHQW WKH FKDQJHV RI WKH LQYHVWPHQW SRUWIROLR LQFOXGHG LQ QHW LQFRPH RI WKH &RPSDQ\