Download PDF version - Munich Re
Download PDF version - Munich Re
Download PDF version - Munich Re
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>Munich</strong> <strong>Re</strong> Group Notes on the accounts<br />
Life insurers<br />
74<br />
1995 Previous year<br />
TDM TDM<br />
– Acquisition expenses 1,040,540 1,122,376<br />
– Management expenses 374,574 450,163<br />
– Less commission received on<br />
ceded business 135,674 184,372<br />
Total 1,279,440 1,388,167<br />
(19) Personal costs Personnel costs totalled TDM 1,709,788 (previous year: TDM 1,708,040).<br />
The total emoluments of the Board of Management of the <strong>Munich</strong><br />
<strong>Re</strong>insurance Company for the performance of its duties in respect of the<br />
parent and subsidiary companies amounted to TDM 10,152 (previous year:<br />
TDM 9,996) and those of the Supervisory Board to TDM 928 (previous<br />
year: TDM 771). Payments to former members of the Board of<br />
Management, including pension payments for their surviving dependants,<br />
amounted to TDM 3,436 (previous year: TDM 4,202).<br />
(20) Underwriting result Before changes in the claims equalization provisions, the underwriting<br />
by class of business result by class of business is as follows:<br />
<strong>Re</strong>insurers Direct insurers Total<br />
TDM TDM TDM<br />
– Life 44,811 443,748 488,559<br />
– Personal accident/health 56,011 105,114 161,125<br />
– Liability –432,887 –6,113 –439,000<br />
– Motor 5,927 57,347 63,274<br />
– Marine 60,428 1,502 61,930<br />
– Fire 245,560 2,794 248,354<br />
– Engineering –47,502 –196 –47,698<br />
– Other classes 165,321 –129,171 36,150<br />
Total 97,669 475,025 572,694
Change language