What Does Annual Report Mean?
An annual report is a document that provides details about a company's financial performance over the past year. Annual reports are distributed to shareholders of a corporation, typically at an annual shareholder's meeting. In the context of insurance, insurance companies often provide annual reports to their shareholders. This helps the shareholders evaluate the yearly progress for the company.
Insuranceopedia Explains Annual Report
Annual reports not only provide shareholders with important financial information, but they also provide it to the government and to the public. The government's interest in the information is primarily for regulatory purposes. Members of the public may be interested in the information if they are deciding whether or not to invest in the insurance company. At any rate, information such as profits losses, or other major financial data can be found on the annual reports of insurance companies.