AMP vs IFS

AMP Core

Annual filing released 2025-02-20 · GPT 6 Luna

Intersegment expenses for this segment include expenses for investment management services provided by the Asset Management segment. The Asset Management segment provides investment management, advice and products to retail, high net worth and institutional clients on a global scale through the Columbia Threadneedle Investments® brand, which represents the combined capabilities, resources and reach of Columbia Management Investment Advisers, LLC (“Columbia Management”) and Threadneedle. Columbia Management primarily provides products and services in the U.S. and Threadneedle primarily provides products and services internationally. The Company offers U.S. retail clients a range of products through both unaffiliated third-party financial institutions and the Advice & Wealth Management segment. The Company provides institutional products and services through its institutional sales force.

(1) Revenues not included in the scope of the revenue from contracts with customers standard. The amounts primarily consist of revenue associated with insurance and annuity products and investment income from financial instruments. (2) Current year disclosure has been expanded to separately state model delivery revenue. Prior periods have been updated to conform to current year presentation. The following discussion describes the nature, timing, and uncertainty of revenues and cash flows arising from the Company’s contracts with customers on a consolidated basis. Management and Financial Advice Fees Asset Management Fees The Company earns revenue for performing asset management services for retail and institutional clients (assets under management).

IFS Material

Annual filing released 2025-04-25 · GPT 6 Luna

For the year ended December 31, 2024, Interseguro’s net profit was S/376.3 million under SBS GAAP and its ROE was 41.6%. Wealth management Inteligo is a provider of wealth management services, which includes banking, financing, brokerage and investing activities for high-net-worth individuals through three operating subsidiaries: Inteligo Bank, Inteligo SAB (brokerage) and Interfondos (mutual funds). As of and for the year ended December 31, 2024, Inteligo represented 4.5% of our total assets. For the 2024 fiscal year, our subsidiaries in the wealth management segment declared a combined dividend of U.S.$25.0 million, which represents 14.8% of total dividends to be received by IFS. 43 Inteligo’s CAGR in assets under management was 7.0% between 2020 and 2024. In addition, for the year ended December 31, 2024, Inteligo’s net profit was S/137.3 million and ROE was 14.2%.

the range of U.S.$500,000 and U.S.$10.0 million, where Inteligo believes there is higher growth potential. Inteligo SAB and Interfondos focus on providing brokerage and mutual funds services to individuals with investable assets under U.S.$500,000. As of December 31, 2024, Inteligo had assets under management of S/27,460.8 million (U.S.$7,295.6 million) as compared to S/23,181.5 million (U.S.$6,250.1 million) in 2023. Inteligo’s assets under management grew at a CAGR of 8.5% between December 31, 2019 and December 31, 2024. Inteligo conducts various types of banking, trust, financing, brokerage and investing activities for high net worth individuals. Inteligo SAB also provides sales and trading operations for individual and institutional customers primarily in the Peruvian capital markets.

AMP Material

Annual filing released 2025-02-20 · GPT 6 Luna

We offer the following products and services through our Advice & Wealth Management segment: •Financial planning and advice services to provide personalized financial planning and financial solutions for which we charge fees and may receive sales commissions for selling products that aid in our clients’ plans. •Discretionary and non-discretionary investment advisory accounts (also known as managed accounts) for which we receive fees based on the assets held in that account, as well as related fees or costs associated with the underlying securities held in that account. •Brokerage products and services for retail and institutional clients. •Cash management and banking products, including brokerage sweep programs, cash management accounts, savings accounts, residential mortgage loans, credit cards, margin loans and pledged asset lines of credit. •Face-amount certificates through ACC. •Mutu

And from time to time, we must report other enterprise activities to our state insurance regulators (such as the NAIC’s Liquidity Stress Testing Framework). Federal Banking and Financial Holding Company Regulation Ameriprise Bank is subject to regulation by the Office of the Comptroller of the Currency (“OCC”), which is the primary regulator of federal savings banks, the Consumer Financial Protection Bureau (“CFPB”) and by the Federal Deposit Insurance Corporation (“FDIC”) in its role as insurer of Ameriprise Bank's deposits. As a federally chartered savings bank, Ameriprise Bank is subject to numerous rules and regulations governing all aspects of the banking business, including lending practices and transactions with affiliates. Ameriprise Bank is also subject to specific capital rules and limits on capital distributions, including payment of dividends.

IFS Core

Annual filing released 2025-04-25 · GPT 6 Luna

Retail Banking Interbank’s retail banking business line provides a variety of financial products and services to individuals including retail loans and retail deposits. Interbank’s retail banking strategy consists of providing the best customer experience through convenient, agile and friendly service. Interbank’s key objectives include increasing its market share in its core products through acquiring new clients, increasing its share of wallet and cross-selling products to its existing customers. Interbank seeks to meet the financial service needs of Peru’s growing middle class.

Interbank offers a wide range of sol, U.S. dollar and euro denominated transactional, savings and investment accounts through one of the largest distribution networks, as measured by total financial stores, ATMs and correspondent agents. These products satisfy key consumer needs and position Interbank as an attractive financial institution for retail customers. Transactional accounts Within retail deposits, Interbank offers transactional accounts with different interest rates, maintenance fees and options for accessing funds. Cuenta Sueldo is a payroll account into which an employer may deposit an accountholder’s salary on a regular basis. These payroll accounts provide debit cards for employees and discounts at restaurants and retailers, among other benefits.

AMP Material

Annual filing released 2025-02-20 · GPT 6 Luna

We are also well-suited to serve those outside this asset range as we also offer products and services designed for higher-net worth households. We are an industry-leading wealth manager with a differentiated advice value proposition. Our network of more than 10,000 financial advisors (our “advisors”) is the primary channel through which we carry out our wealth management activities. Our capabilities are centered on establishing long-term personal relationships between clients and advisors. Through our affiliated advisors, we offer financial planning and advice, cash management and banking products, and full-service brokerage services, primarily to retail clients. Our branded advisor force is among the largest in the industry and is central to how we serve our clients.

We offer the following products and services through our Advice & Wealth Management segment: •Financial planning and advice services to provide personalized financial planning and financial solutions for which we charge fees and may receive sales commissions for selling products that aid in our clients’ plans. •Discretionary and non-discretionary investment advisory accounts (also known as managed accounts) for which we receive fees based on the assets held in that account, as well as related fees or costs associated with the underlying securities held in that account. •Brokerage products and services for retail and institutional clients. •Cash management and banking products, including brokerage sweep programs, cash management accounts, savings accounts, residential mortgage loans, credit cards, margin loans and pledged asset lines of credit. •Face-amount certificates through ACC. •Mutu

IFS Material

Annual filing released 2025-04-25 · GPT 6 Luna

Inteligo SAB is organized under the laws of Peru, and is licensed by the SMV to operate in Peru and conduct brokerage, custody, portfolio management and advisory services. Interfondos is a corporation (sociedad anónima) that started operations in 1994.

Inteligo SAB provides brokerage services, including sales and trading operations, in Peru’s domestic capital markets. As of December 31, 2024, the Peruvian brokerage industry consisted of 19 brokerage firms. Inteligo SAB has ranked among the largest equity trading platforms in the last five years in terms of trading volumes on the Lima Stock Exchange.

AMP Core

Annual filing released 2025-02-20 · GPT 6 Luna

Item 1. Business Overview Ameriprise Financial, Inc. is a diversified financial services company with a 130-year history of providing solutions to help clients confidently achieve their financial objectives. Ameriprise Financial, Inc. is a holding company incorporated in Delaware that primarily engages in business through its subsidiaries. Accordingly, references to “Ameriprise,” “Ameriprise Financial,” the “Company,” “we,” “us,” and “our” may refer to Ameriprise Financial, Inc. exclusively, to our entire family of companies, or to one or more of our subsidiaries. We are a long-standing leader in financial planning and advice offering a broad range of products and services designed to assist individual and institutional clients achieve their financial objectives.

We are also well-suited to serve those outside this asset range as we also offer products and services designed for higher-net worth households. We are an industry-leading wealth manager with a differentiated advice value proposition. Our network of more than 10,000 financial advisors (our “advisors”) is the primary channel through which we carry out our wealth management activities. Our capabilities are centered on establishing long-term personal relationships between clients and advisors. Through our affiliated advisors, we offer financial planning and advice, cash management and banking products, and full-service brokerage services, primarily to retail clients. Our branded advisor force is among the largest in the industry and is central to how we serve our clients.

IFS Core

Annual filing released 2025-04-25 · GPT 6 Luna

Overview IFS is a leading provider of banking, insurance, wealth management services and payments for retail customers and commercial clients in Peru. Our purpose is centered around building financial well-being together. We are committed to (i) becoming the leading digital financial platform, with a clear strategic focus on key businesses such consumer financing, wealth management and life insurance; (ii) placing the customer at the center of our decisions, offering a comprehensive suite of services backed by a superior digital experience and analytics as our competitive advantages; and (iii) fostering a unified approach, leveraging the best talent, innovation and a collaborative mindset. We manage our business in three segments, banking, insurance and wealth management, which complement each other and represent diversified sources of revenue.

Interseguro provides a wide range of retirement, savings, life, unemployment and other insurance products to retail customers. Finally, our wealth management segment operates mainly through our subsidiaries Inteligo Bank, Inteligo SAB and Interfondos, which together provide wealth management, private banking, financing, brokerage, advisory and other investment services mainly to high-net-worth individuals. As of December 31, 2024, Interbank’s digital platform and distribution network provide to its 5.6 million customers, as well a potential market of more than 34.4 million Peruvians (total population of Peru), including an employed population of 18 million and 3.4 million businesses, with access to its products and services and a distinctive and convenient customer experience. Our key strategic priority is to achieve digital excellence for our customers by providing them with a world-cla

AMP Core

Annual filing released 2025-02-20 · GPT 6 Luna

The Company also earns net investment income on general account assets supporting reserves for non-life contingent payout annuities, structured variable annuities, certain guaranteed benefits and fixed investment options offered with variable annuities and on capital supporting the business. Revenues for the Company’s life contingent payout annuities are earned as premium revenue. Protection Solutions offers a variety of products to address the protection and risk management needs of the Company’s retail clients including life and DI insurance. Life and DI products are primarily provided through the Company’s advisors and these policies are issued through its RiverSource Life companies. The primary sources of revenues for Protection Solutions are premiums, fees and charges that the Company receives to assume insurance-related risk.

The Company also retains all risk on accidental death benefit claims and substantially all risk associated with waiver of premium provisions. As of December 31, 2024 and 2023, traditional life and UL insurance policies in force were $198.1 billion and $198.8 billion, respectively, of which $143.5 billion and $144.7 billion as of December 31, 2024 and 2023 were reinsured at the respective year ends. 97 Index Ameriprise Financial, Inc. Notes to Consolidated Financial Statements (Continued) The effect of reinsurance on premiums for traditional long-duration products was as follows: Years Ended December 31, 2024 2023 2022 (in millions) Direct premiums $ 696 $ 674 $ 530 Reinsurance ceded (224) (226) (224) Net premiums $ 472 $ 448 $ 306

IFS Core

Annual filing released 2025-04-25 · GPT 6 Luna

Our banking segment operates through our subsidiary Interbank, which is the second largest provider of consumer loans in Peru, according to the SBS. Interbank provides retail banking and commercial banking products, and services to individuals, large companies, and small and medium enterprises. Complementing our banking segment, our subsidiary Izipay also contributes by generating an end-to-end digital ecosystem of financial services and technology solutions, enabling consumers, individuals entrepreneurs, micro-mercants, and small and medium-sized enterprises (SMEs) in Peru to make and process payments in a safe seamless, digital, mobile-first, and affordable manner. Our insurance segment operates through our subsidiary Interseguro, which is the leading provider of annuities in Peru by premiums and one of the leading life insurance companies in the country according to the SBS.

Also, Interseguro offers private annuities as well as low premium retail insurance products, including credit life, mandatory traffic accident insurance (“SOAT”), car insurance and credit card protection insurance, through a comprehensive multi-channel distribution platform which includes Interseguro’s sales force, which is a key component of Interseguro’s sales.

AMP Material

Annual filing released 2025-02-20 · GPT 6 Luna

distribution expenses for services provided by our Advice & Wealth Management segment, as well as expenses for investment management services provided by our Asset Management segment. All intersegment activity is eliminated in our consolidated results. Protection Solutions We provide life and disability income insurance products to address the protection and risk management needs of our retail clients. New RiverSource insurance products are exclusively offered through our advisor network. Our advisors also offer insurance products of unaffiliated carriers. The primary sources of revenues for our protection business are premiums, fees, and charges we receive to assume insurance-related risk. We earn net investment income on owned assets supporting insurance reserves and on capital supporting the business.

All intersegment activity is eliminated in our consolidated results. Products We currently offer the following RiverSource Life products: •Variable annuities that provide returns linked to underlying investments of the contractholder’s choice of certain funds, as well as additional benefits, such as guaranteed minimum death benefits (but without living benefits for new sales after mid-2022). •Structured variable annuities that use the performance of an underlying equity market index to determine earnings, subject to either a cap or floor. •Variable universal life insurance that provides life insurance coverage along with investment returns linked to underlying investment accounts of the policyholder’s choice. •Universal life insurance that credits interest at fixed interest rates.

IFS Material

Annual filing released 2025-04-25 · GPT 6 Luna

In our insurance segment, Interseguro is strategically focused on life and annuities insurance, which has had a fast growth in recent years. During the year ended December 31, 2024, the premiums earned from life and annuities insurance customers represented 91.0% of Interseguro’s total premiums earned, compared to the average of 54.3% of life insurance premiums earned over total premiums earned in the industry in 2024, according to data from SBS. Interseguro directs its efforts towards an end-to-end experience in its customers’ journey, from the issuance of an insurance policy to the after-sale services offering to clients. In this context, Interseguro’s digital offering is gaining relevance. For example, in 2024, digital life insurance sales represented 22% of total life insurance sales, compared to 0% in 2019.

Although the individual life insurance market remains relatively small in Peru, the market has grown at a CAGR of 13.8% between December 31, 2020, and December 31, 2024. For the year ended December 31, 2024, the individual life insurance market increased 25.3% as compared to 2023, primarily due to an aggressive growth of the three leading companies (with Interseguro being third) by S/377 million. Interseguro offers a variety of individual life insurance products, providing a wide range of coverage for the length of a policyholder’s life.

AMP Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

IFS Material

Annual filing released 2025-04-25 · GPT 6 Luna

Information on the Company—Business Overview—Regulation and Supervision—Investment Requirements” for a discussion of investment requirements and technical obligations. The Peruvian Payment’s System The payments ecosystem of our group has been complemented through PMP (in which Interbank holds 50%) even prior to the direct acquisition, on April 13, 2022, by IFS of the remaining 50% in such company. As a consequence of such acquisition, IFS now holds all interest in PMP’s wholly-owned subsidiary, Izipay, which is currently our payments processor and the payments facilitator for our subsidiaries operating in Peru. A summary of the Peruvian payment’s system regulatory framework is set forth below. Payment processors provide technological services to merchants such as by: (a) capturing transactions through a physical network of terminals or payment platforms;

and (ii) routing the transaction to the bank or card networks (such as VISA, or Mastercard) for validation (e-commerce). On the other hand, payment facilitators affiliate merchants to accept payment cards on behalf of an acquirer, specializing in the affiliation of merchants with low sales volume, offering them value-added services. PMP acts as payments processor, but it also provides the acquiring services (i.e. the acquirer is the agent in charge of affiliating merchants so that they accept card payments from consumers through a point of sale (physical or virtual), such as POS or website payment buttons). General Overview The regulatory authorities for the payment industry include the Central Reserve Bank of Peru; the Peruvian Antitrust Authority (Instituto Nacional de Defensa de la Competencia y de la Protección de la Propiedad Intelectual – “Indecopi”);

AMP Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

IFS Material

Annual filing released 2025-04-25 · GPT 6 Luna

Inteligo’s three subsidiaries located in Peru (Inteligo SAB, Inteligo Peru Holdings and Interfondos) participated together under the name “Inteligo Group Peru” and Inteligo Group Peru was selected as the third best company to work for in Peru in the category of companies with less than 250 employees in 2024. Inteligo Bank’s branch in Panama began participating in the Great Place to Work Institute survey in 2014 and since 2015 has been ranked among the top 10 companies in Panama. Similarly, Izipay, as a financial services and payments technology platform that enables digital payments and simplifies commerce experiences, competes for top talent in Peru and the region. We believe that a strong culture focused on employee experiences that enables advancement, learning, and individual career insights is essential to the successful acquisition, development, and retention of diverse talent.

Izipay is a key player to our goal of creating a powerful profitable payments ecosystem in Peru, facilitating financial transactions between consumers, merchants and the bank. Izipay is a payments company and provider of products and services related to payments acquirer, a correspondent bank and a credit cards processor. Izipay is the leader in the physical card payment business in Peru.

AMP Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

IFS Material

Annual filing released 2025-04-25 · GPT 6 Luna

Moreover, it provides financial services and technology solutions that enable consumers, individual entrepreneurs, micro-merchants, SMEs, in Peru, to make and/or process payments in a safe, seamless, digital, mobile first and affordable manner. Izipay’s technology solutions allow it to (i) be a full acquirer company, with a complete set of payment solutions through Point-of-Sale (“POS”) devices and e-commerce, (ii) provide a digital platform with proprietary solutions for business management such as self-check-out, split payments, product and inventory management, business reports, anti-fraud system and CRM, among others. Insurance Interseguro is the leading provider of annuities (excluding private annuities) in Peru, with a 30.5% market share as measured by total premiums collected during 2024, according to the SBS, and is one of the leading life insurance companies in Peru.

Izipay is a key player to our goal of creating a powerful profitable payments ecosystem in Peru, facilitating financial transactions between consumers, merchants and the bank. Izipay is a payments company and provider of products and services related to payments acquirer, a correspondent bank and a credit cards processor. Izipay is the leader in the physical card payment business in Peru.

AMP Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

IFS Material

Annual filing released 2025-04-25 · GPT 6 Luna

DCF: Discounted cash flow (i)Investment property portfolio has been classified by the Group as Level 3. During 2024 and 2023, there were no transfers between levels of hierarchy, see Note 3.4(w). (ii)As of December 31, 2024 and 2023, there are no liens on investment property. F-68 (b)The net gain on investment properties as of December 31, 2024, 2023 and 2022, consists of the following: 2024 2023 2022 S/(000) S/(000) S/(000) Income from rental of investment property 71,080 65,961 65,485 Gain on valuation of investment property 60,260 7,111 19,146 Loss on sale (e) (3,176 ) - - Total 128,164 73,072 84,631

(c)The movement of investment property for the years ended December 31, 2024, 2023 and 2022, is as follows: 2024 2023 2022 S/(000) S/(000) S/(000) Beginning of year balances 1,298,892 1,287,717 1,224,454 Additions (d) 61,812 16,903 34,760 Sales (e) (39,176 ) - - Valuation gain 60,260 7,111 19,146 Net transfers, Note 3.4(n) - (12,839 ) 9,357 End of year balances 1,381,788 1,298,892 1,287,717

AMP Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

IFS Material

Annual filing released 2025-04-25 · GPT 6 Luna

Both companies were acquired in April 2022, as detailed in Note 1(b). Procesos de Medios de Pago is dedicated to the development, management and operation of the shared service of transaction processing of credit and debit cards, through the acquirer role for the brands MasterCard, Visa and other private brands; also, it renders the processing service, through the issuer role, to entities of the financial system. Izipay is dedicated to the facilitation of payments and services, offering its services of technological, operating and safety infrastructure through the affiliation of commercial stores, as well as installation and maintenance of infrastructure for transactions through the electronic commerce modality, interconnected with the networks of payment methods processors. As indicated in Note 1(b), in April 2022, IFS acquired control of Izipay, becoming it its subsidiary.

AMP Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

IFS Material

Annual filing released 2025-04-25 · GPT 6 Luna

Moreover, it provides financial services and technology solutions that enable consumers, individual entrepreneurs, micro-merchants, SMEs, in Peru, to make and/or process payments in a safe, seamless, digital, mobile first and affordable manner. Izipay’s technology solutions allow it to (i) be a full acquirer company, with a complete set of payment solutions through Point-of-Sale (“POS”) devices and e-commerce, (ii) provide a digital platform with proprietary solutions for business management such as self-check-out, split payments, product and inventory management, business reports, anti-fraud system and CRM, among others. Insurance Interseguro is the leading provider of annuities (excluding private annuities) in Peru, with a 30.5% market share as measured by total premiums collected during 2024, according to the SBS, and is one of the leading life insurance companies in Peru.