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<strong>Munich</strong> <strong>Re</strong> Group Notes on the accounts<br />
(21) Investment income <strong>Re</strong>insurers, Life insurers Total Total<br />
non-life insurers<br />
1995/96 1995/96 1995/96 Previous year<br />
TDM TDM TDM TDM<br />
Dividends from participations 328,727 112,055 440,782 716,060<br />
Income from other investments<br />
– <strong>Re</strong>nts from real estate 265,537 422,409 687,946 663,047<br />
– Other 2,849,447 4,116,988 6,966,435 6,380,628<br />
75<br />
3,443,711 4,651,452 8,095,163 7,759,735<br />
<strong>Re</strong>alized gains on investments 440,151 229,860 670,011 696,808<br />
Income from profit-transfer<br />
agreements 6,561 – 6,561 8,287<br />
Income from the reduction<br />
of the special reserve 2,954 25,983 28,937 39,926<br />
Total 3,893,377 4,907,295 8,800,672 8,504,756<br />
This includes the following income from affiliated and associated<br />
companies:<br />
1995/96 Previous year<br />
TDM TDM<br />
Dividends<br />
– from affiliated companies 31,507 38,587<br />
– from associated companies 11,961 8,268<br />
Income from other investments<br />
– from affiliated companies 12,815 12,239<br />
(22) Investment expenditure <strong>Re</strong>insurers, Life insurers Total Total<br />
non-life insurers<br />
1995/96 1995/96 1995/96 Previous year<br />
TDM TDM TDM TDM<br />
Expenses for the management of<br />
investments, interest paid and other<br />
expenses for investments 238,799 178,388 417,187 347,436<br />
Writedowns on investments 241,971 144,809 386,780 624,686<br />
<strong>Re</strong>alized losses on investments 60,068 475 60,543 165,375<br />
Allocations to the special reserve – 1,081 1,081 45,034<br />
Total 540,838 324,753 865,591 1,182.531
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