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<strong>Munich</strong> <strong>Re</strong>insurance Company<br />
Profit and loss account<br />
for the business year 1995/96<br />
Previous<br />
Items Notes TDM year TDM<br />
I. Technical account<br />
1. Earned premiums for own account (13) 16,282,697 16,089,091<br />
2. Interest income on premium funds for own account 1,214,238 1,036,369<br />
3. Other underwriting income for own account 2,666 1,268<br />
4. Claims incurred for own account (14) 10,619,155 10,910,248<br />
5. Change in other underwriting provisions<br />
for own account (15) –2,114,925 –1,830,015<br />
6. Expenditure for premium refunds for own account 17,097 15,588<br />
7. Operating expenses for own account (16, 17) 4,538,533 4,626,332<br />
8. Other underwriting expenditure for own account 77,751 62,533<br />
9. Subtotal 132,140 –317,988<br />
10. Change in the claims equalization provision<br />
and similar provisions –982,128 –797,896<br />
11. Underwriting result for own account (12) –849,988 –1,115,884<br />
II. Non-technical account<br />
1. Investment income (18) 3,569,318 3,390,463<br />
2. Investment expenditure (17, 19) 406,462 585,970<br />
83<br />
3,162,856 2,804,493<br />
3. Interest income on premium funds and provisions 1,349,852 1,133,851<br />
1,813,004 1,670,642<br />
4. Other income 131,201 119,633<br />
5. Other expenditure (20) 619,142 362,109<br />
6. Operating result 475,075 312,282<br />
7. Taxes on profit and income 236,488 146,173<br />
8. Other taxes 6,051 3,845<br />
9. Profit for the year 232,536 162,264<br />
10. Profit brought forward from previous year – 113<br />
11. Transfer to revenue reserves 100,000 60,000<br />
12. Balance sheet profit 132,536 102,377
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