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Munich Re Group
Reinsurers Direct insurers Total Total
1995/96 1995/96 1995/96 Previous year
Results TDM TDM TDM TDM
Underwriting result of reinsurers
and non-life insurers 97,669 31,277 128,946 –464,683
– Net premiums 16,525,538 2,433,862 18,959,400 18,841,102
– Interest income on premium funds 981,112 3,074 984,186 802,501
– Claims incurred 10,869,000 1,563,968 12,432,968 12,858,785
– Operating expenses 4,670,106 761,458 5,431,564 5,543,304
– Other underwriting income
and expenditure –1,869,875 –80,233 –1,950,108 –1,706,197
Underwriting result of life insurers – 443,748 443,748 364,639
– Net premiums – 7,272,290 7,272,290 7,096,374
– Result of investments – 4,582,542 4,582,542 4,399,643
– Underwriting income and
expenditure – –8,185,021 –8,185,021 –7,735,143
– Operating expenses – 1,279,440 1,279,440 1,388,167
– Allocation to provisions for
policyholders’ dividends – 1,946,623 1,946,623 2,008,068
Underwriting result 97,669 475,025 572,694 –100,044
Result of investments 3,174,378 4,760,703 7,935,081 7,322,225
Thereof included in underwriting
result 1,099,731 4,585,616 5,685,347 5,313,306
Other income and expenditure –9,178 –227,193 –236,371 –144,926
Unadjusted earnings 2,163,138 422,919 2,586,057 1,763,949
Special allocations to the provision
for outstanding claims –500,000 – –500,000 –250,000
Change in the claims equalization
provision and the provisions for
major risks and earthquake risks –984,301 32,233 –952,068 –788,398
Operating result 678,837 455,152 1,133,989 725,551
Tax –538,493 –400,520
Profit for the year 595,496 325,031
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