Mercury Insurance 2014 Annual Report Download - page 59

Download and view the complete annual report

Please find page 59 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.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114


7KH &RPSDQ\µV FRPPRQ VWRFN DOORFDWLRQ LV LQWHQGHG WR HQKDQFH WKH UHWXUQ RI DQG SURYLGH GLYHUVLILFDWLRQ IRU WKH WRWDO
SRUWIROLR $W 'HFHPEHU    RI WKH WRWDO LQYHVWPHQW SRUWIROLR DW IDLU YDOXH ZDV KHOG LQ HTXLW\ VHFXULWLHV FRPSDUHG WR
 DW 'HFHPEHU  'XULQJ WKH VHFRQG KDOI RI  WKH &RPSDQ\ VROG D VLJQLILFDQW SRUWLRQ RI LWV HTXLW\ SRUWIROLR WR
LPSURYH WKH DVVHW ULVN SURILOH LQ LWV LQVXUDQFH VXEVLGLDULHV DQG WR ORFN LQ DQG UHDOL]H JDLQV WKDW UHVXOWHG IURP WKH ODUJH VWRFN PDUNHW
DSSUHFLDWLRQ WKDW RFFXUUHG GXULQJ  7KRVH JDLQV FDQ EH XWLOL]HG WR RIIVHW FDSLWDO ORVVHV IRU WD[ SXUSRVHV ZLWKLQ WKH QH[W WKUHH
\HDUV
7KH IROORZLQJ WDEOH SUHVHQWV WKH HTXLW\ VHFXULW\ SRUWIROLR E\ LQGXVWU\ VHFWRU IRU  DQG 
'HFHPEHU 
 
&RVW )DLU 9DOXH &RVW )DLU 9DOXH
$PRXQWV LQWKRXVDQGV
(TXLW\ VHFXULWLHV
%DVLF PDWHULDOV       
&RPPXQLFDWLRQV    
&RQVXPHU±F\FOLFDO    
&RQVXPHU±QRQF\FOLFDO    
(QHUJ\    
)LQDQFLDO    
)XQGV    
,QGXVWULDO    
7HFKQRORJ\    
8WLOLWLHV    
       
' 'HEW
1RWHV SD\DEOH FRQVLVWV RI WKH IROORZLQJ
'HFHPEHU 
/HQGHU ,QWHUHVW 5DWH ([SLUDWLRQ  
$PRXQWV LQWKRXVDQGV
6HFXUHG FUHGLW IDFLOLW\ %DQN RI $PHULFD /,%25 SOXV  EDVLV SRLQWV 'HFHPEHU      
6HFXUHG ORDQ 8QLRQ %DQN /,%25 SOXV  EDVLV SRLQWV 'HFHPEHU    
8QVHFXUHG FUHGLW
IDFLOLW\
%DQN RI $PHULFD
DQG8QLRQ%DQN

'HFHPEHU    
7RWDO    
BBBBBBBBBB
 2Q -XO\   WKH &RPSDQ\ HQWHUHG LQWR DQ XQVHFXUHG  PLOOLRQ ILYH\HDU UHYROYLQJ FUHGLW IDFLOLW\ 7KH LQWHUHVW UDWH
RQ ERUURZLQJV XQGHU WKH FUHGLW IDFLOLW\ LV EDVHG RQ WKH &RPSDQ\µV GHEW WR WRWDO FDSLWDO UDWLR DQG UDQJHV IURP /,%25 SOXV
 EDVLV SRLQWV ZKHQ WKH UDWLR LV XQGHU  WR /,%25 SOXV  EDVLV SRLQWV ZKHQ WKH UDWLR LV DERYH  &RPPLWPHQW
IHHV IRU WKH XQGUDZQ SRUWLRQV RI WKH FUHGLW IDFLOLW\ UDQJH IURP  EDVLV SRLQWV ZKHQ WKH UDWLR LV XQGHU  WR  EDVLV
SRLQWV ZKHQ WKH UDWLR LV DERYH  ,Q  WKH LQWHUHVW UDWH ZDV /,%25 SOXV  EDVLV SRLQWV RQ WKH  PLOOLRQ RI
ERUURZLQJV DQG  EDVLV SRLQWV RQ WKH XQGUDZQ SRUWLRQV RI WKH FUHGLW IDFLOLW\
 (IIHFWLYH 'HFHPEHU   WKH &RPSDQ\ H[WHQGHG WKH PDWXULW\ GDWH IURP -XO\   WR 'HFHPEHU  
 (IIHFWLYH 'HFHPEHU   WKH &RPSDQ\ H[WHQGHG WKH PDWXULW\ GDWH IURP -DQXDU\   WR 'HFHPEHU  
 (IIHFWLYH 'HFHPEHU   WKH &RPSDQ\ H[WHQGHG WKH PDWXULW\ GDWH IURP -XQH   WR 'HFHPEHU   DQG
H[SDQGHG WKH ERUURZLQJ FDSDFLW\ IURP  PLOOLRQ WR  PLOOLRQ
7KH EDQN ORDQ DQG FUHGLW IDFLOLWLHV FRQWDLQ ILQDQFLDO FRYHQDQWV SHUWDLQLQJ WR PLQLPXP VWDWXWRU\ VXUSOXV GHEW WR FDSLWDO UDWLR
DQG 5%& UDWLR 7KH &RPSDQ\ ZDV LQ FRPSOLDQFH ZLWK DOO RI LWV ORDQ FRYHQDQWV DW 'HFHPEHU   H[FHSW WKDW &$,&V 5%&
UDWLR DV RI 'HFHPEHU   ZDV EHORZ WKH ORDQ FRYHQDQW UHTXLUHG OHYHO 7KH &RPSDQ\ UHFHLYHG D ZDLYHU RI WKH QRQFRPSOLDQFH
DQG FRQWULEXWHG  PLOOLRQ WR WKH VWDWXWRU\ VXUSOXV RI &$,& WR FRPSO\ ZLWK WKH FRYHQDQW 7KH &RPSDQ\ ZLOO FRQWLQXH WR PRQLWRU