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<strong>Munich</strong> <strong>Re</strong>insurance Company Notes on the accounts<br />

Taking into account the proposal for the distribution of the profit, the total<br />

emoluments of the members of the Board of Management amount to<br />

TDM 9,777 (previous year: TDM 9,450). Payments to retired members<br />

of the Board of Management or their surviving dependants amount to<br />

TDM 3,272 (previous year: TDM 4,146).<br />

Also taking into account the proposal for distribution of the profit, the total<br />

emoluments of the members of the Supervisory Board amount to TDM 845<br />

(previous year: TDM 715). This sum includes emoluments of TDM 714<br />

(previous year: TDM 587) dependent on the dividend paid to the shareholders.<br />

(18) Investment income 1995/96 Previous year<br />

TDM TDM<br />

Dividends from participations 357,289 574,413<br />

Income from other investments:<br />

– <strong>Re</strong>nts from real estate 221,880 207,307<br />

– Income from other investments 2,663,080 2,226,206<br />

2,884,960 2,433,513<br />

<strong>Re</strong>alized gains on investments 322,157 352,124<br />

Income from profit-transfer agreements 1,958 1,995<br />

Income from the reduction<br />

of the special reserve 2,954 28,418<br />

Total 3,569,318 3,390,463<br />

This includes the following income from affiliated companies:<br />

1995/96 Previous year<br />

TDM TDM<br />

Dividends from participations 64,013 79,355<br />

Income from other investments 364,413 299,139<br />

94

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