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