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<strong>Munich</strong> <strong>Re</strong> Group<br />
Consolidated profit and loss account<br />
for the business year 1995/96<br />
Previous<br />
Items Notes TDM year TDM<br />
III. Technical account for reinsurance and non-life insurance<br />
1. Earned premiums for own account (15) 18,971,399 18,766,890<br />
III. 2. Interest income on premium funds for own account 984,186 802,501<br />
3. Other underwriting income for own account 3,655 3,089<br />
4. Claims incurred for own account (16) 12,432,968 12,858,785<br />
III. 5. Change in other underwriting provisions for own account (17) –1,837,020 –1,515,611<br />
6. Expenditure for premium refunds for own account 48,084 52,079<br />
7. Operating expenses (18) 5,431,564 5,543,304<br />
8. Other underwriting expenditure for own account 80,658 67,384<br />
III. 9. Subtotal (20) 128,946 –464,683<br />
10. Change in the claims equalization provision<br />
and similar provisions –952,068 –788,398<br />
III.11. Underwriting result for own account<br />
in reinsurance and non-life insurance –823,122 –1,253,081<br />
III. Technical account for life insurance<br />
1. Earned premiums for own account (15) 7,249,004 7,035,336<br />
III. 2. Premiums from the gross provision<br />
for policyholders’ dividends 1,057,453 1,018,095<br />
3. Allocated investment return transferred<br />
from the non-technical account 4,582,542 4,399,643<br />
4. Unrealized gains on investments 858 –<br />
5. Other underwriting income for own account 47,958 142,459<br />
6. Claims incurred for own account (16) 4,752,222 4,302,076<br />
III. 7. Change in other underwriting provisions for own account (17) –3,931,761 –3,921,281<br />
III. 8. Expenditure for policyholders’ dividends for own account 1,946,623 2,008,068<br />
III. 9. Operating expenses (18) 1,279,440 1,388,167<br />
10. Other underwriting expenditure for own account 584,021 611,302<br />
III. 11. Underwriting result for own account in life insurance (20) 443,748 364,639<br />
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