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Munich Re Group Notes on the accounts
Of the writedowns on investments, TDM 57,066 (previous year:
TDM 31,560) comprised exceptional depreciations as per Article 253
para. 2 sentence 3 of the German Commercial Code.
Special writedowns for tax purposes as per Article 6 b of the German
Income Tax Act amounted to TDM 28,937 (previous year: TDM 39,926).
The calculation of reinstatements of value has been dispensed with in
this transitional year, since various subsidiaries availed themselves of
the option not to provide these figures. The result for the year was only
affected to a negligible extent by writedowns for tax purposes and the
posting of the special reserve as per Articles 6 b and 7g of the German
Income Tax Act; the effects of the reinstatements of value not made for tax
reasons are not significant for the result for the year either, being spread
over several years. These measures are of subordinate importance for
Group earnings as regards the results of future business years as well.
Other information
(23) Number of staff 1995/96 Previous year
Reinsurance companies 3,055 3,087
Direct insurance companies 13,288 13,438
Total 16,343 16,525
(24) Other financial There are no other financial commitments of significance for the
commitments assessment of the Group’s financial position.
Munich, 7th October 1996
The Board of Management
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