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<strong>Munich</strong> <strong>Re</strong>insurance Company Notes on the accounts<br />
(14) Claims incurred 1995 Previous year<br />
for own account TDM TDM<br />
Claims paid<br />
– Gross amount 10,264,121 11,259,404<br />
– <strong>Re</strong>troceded amount 1,041,319 1,662,937<br />
– Net amount 9,222,802 9,596,467<br />
Change in provision<br />
– Gross amount 1,394,402 1,019,562<br />
– <strong>Re</strong>troceded amount –1,951 –294,219<br />
– Net amount 1,396,353 1,313,781<br />
Total 10,619,155 10,910,248<br />
(15) Change in other 1995 Previous year<br />
underwriting provisions TDM TDM<br />
for own account<br />
Premium funds –1,978,612 –1,749,109<br />
Other underwriting provisions –136,313 –80,906<br />
Total –2,114,925 –1,830,015<br />
(16) Operating expenses 1995/96 Previous year<br />
for own account TDM TDM<br />
Gross operating expenses 4,992,287 5,106,865<br />
Less commission received on<br />
retroceded business 453,754 480,533<br />
Total 4,538,533 4,626,332<br />
(17) Personnel costs The management expenses subsumed under expenditure for underwriting<br />
business and under investment expenditure include the following personnel<br />
costs:<br />
1995/96 Previous year<br />
TDM TDM<br />
Wages and salaries 231,744 219,614<br />
Social insurance contributions<br />
and voluntary assistance 53,408 53,334<br />
Expenses for employees’ pensions 36,409 20,730<br />
Total 321,561 293,678<br />
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