beatandraise : Equity Research with AI and ChatGPT on SEC Edgar

1.0.0.3 false Dividend restrictions - Insurance subsidiaries false 1 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 2 Dividend restrictions - Insurance subsidiaries [Abstract] 0 us-gaap_DisclosureOfRestrictionsOnDividendsLoansAndAdvancesDisclosureAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 Dividend restrictions - Insurance subsidiaries 1 us-gaap_ScheduleOfDividendPaymentRestrictionsTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <table cellpadding="0" style="BORDER-COLLAPSE: collapse" cellspacing="0" border="0" width="100%"> <tr> <td valign="top" align="left" width="4%">(17) </td> <td valign="top" align="left">Dividend restrictions – Insurance subsidiaries </td></tr></table> Payments of dividends by our insurance subsidiaries are restricted by insurance statutes and regulations. Without prior regulatory approval, our principal insurance subsidiaries may declare up to approximately $7 billion as ordinary dividends before the end of 2010. Combined shareholders’ equity of U.S. based property/casualty insurance subsidiaries determined pursuant to statutory accounting rules (Statutory Surplus as Regards Policyholders) was approximately $64 billion at December 31, 2009 and $51 billion at December 31, 2008. Statutory surplus differs from the corresponding amount determined on the basis of GAAP. The major differences between statutory basis accounting and GAAP are that deferred charges reinsurance assumed, deferred policy acquisition costs, unrealized gains and losses on investments in fixed maturity securities and related deferred income taxes are recognized under GAAP but not for statutory reporting purposes. In addition, statutory accounting for goodwill of acquired businesses requires amortization of goodwill over 10 years, whereas under GAAP, goodwill is not amortized and is subject to periodic tests for impairment. (17)  Dividend restrictions – Insurance subsidiaries Payments of dividends by our insurance subsidiaries are restricted by insurance statutes and false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true