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Munich Reinsurance Company Notes on the accounts
(12) Reinsurance underwriting
result by class of business
(in DM million)
Notes on the profit and loss account
Life Personal Liability Motor Marine Fire Engineering Other Non-life Total
accident/ classes combined
health
Gross premiums written 4,069 1,221 1,919 3,140 627 2,928 1,738 2,372 13,945 18,014
Net premiums written 3,595 1,136 1,730 2,866 594 2,569 1,474 2,222 12,591 16,186
Net earned premiums 3,632 1,148 1,723 2,881 596 2,591 1,488 2,224 12,651 16,283
Interest income
on premium funds 1,090 118 1 5 – – – – 124 1,214
Claims incurred
– Payments 1,818 662 986 2,028 305 1,450 776 1,198 7,405 9,223
– Increase in provision –14 37 685 324 82 –85 246 121 1,410 1,396
1,804 699 1,671 2,352 387 1,365 1,022 1,319 8,815 10,619
Operating expenses 956 367 447 559 155 821 516 718 3,583 4,539
Other income and
expenditure –1,848 –121 –5 1 3 –181 –4 –52 –359 –2,207
Underwriting result 114 79 –399 –24 57 224 –54 135 18 132
Change in claims
equalization provisions – – –4 –229 –49 –450 –26 –224 –982 –982
Underwriting result
after change in claims
equalization provisions 114 79 –403 –253 8 –226 –80 –89 –964 –850
Key figures in %
Loss ratio 61.1 97.2 81.4 64.4 59.7 69.0 61.6 71.6
Expense ratio 32.0 25.9 19.4 26.0 31.7 34.7 32.3 28.3
Combined ratio 93.1 123.1 100.8 90.4 91.4 103.7 93.9 99.9
(13) Earned premiums 1995 Previous year
for own account TDM TDM
Gross premiums written 18,013,604 18,258,249
Retrocession premiums 1,827,498 2,080,259
Net premiums written 16,186,106 16,177,990
Change in unearned premiums
– Gross amount 126,465 –86,528
– Retroceded amount –29,874 –2,371
– Net amount 96,591 –88,899
Net earned premiums 16,282,697 16,089,091
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