R+V Versicherung AG Annual Report
R+V Versicherung AG Annual Report R+V Versicherung AG Annual Report
Income Statement for the period from January 1 to December 31, 2002* 38 2002 2001 € € € € I. Technical account 1. Premiums earned – net: a. Gross premiums written 957,885,754 1,028,543,084 b. Reinsurance premiums ceded 334,996,177 622,889,577 415,809,225 c. Change in provision for unearned premiums – gross –41,541,313 –17,558,066 d. Change in provision for unearned premiums – reinsurers’ share 13,621,075 –27,920,238 3,416,120 594,969,339 598,591,914 2. Allocated investment return – net 20,554,117 13,365,604 3. Other technical income – net 1,508,815 4,252,062 4. Claims incurred – net a. Claims paid aa. Gross 606,640,514 589,354,261 bb. Reinsurers’ share 239,179,762 367,460,752 255,307,416 b. Change in provision for claims outstanding aa. Gross 68,159,399 86,277,406 bb. Reinsurers’ share –46,900,593 115,059,992 8,207,058 482,520,744 412,117,193 5. Change in other technical provisions – net a. Mathematical provision – net 7,422,344 –46,484,166 b. Other technical provisions – net –2,492,500 –1,641,382 4,929,844 –48,125,549 6. Bonus and rebates – net 530,019 105,674 7. Operating expenses – net a. Operating expenses – gross 307,128,378 300,735,368 b. Less: reinsurance commissions and profit participations received 87,182,489 112,143,249 219,945,889 188,592,119 8. Other technical expenses – net 520,259 557,688 9. Subtotal –81,554,796 –33,288,643 10. Change in the equalization provision and similar provisions 17,370,114 –10,909,718 11. Balance on technical result – net –64,184,681 –44,198,361 * In the case of “thereof” notes, the figures for the previous year are shown in parentheses.
2002 2001 € € € € € II. Non-technical account 1. Investment income a. Income from investments thereof: from affiliated companies 3,081,850 32,163,626 €2,450,000 (€31,466,306) b. Miscellaneous investment income thereof: from affiliated companies €26,822,301 (€28,756,194) aa. Income from land, land rights and buildings including buildings on third party land 584,604 531,163 bb. Miscellaneous investment income 79,032,078 79,616,683 69,580,098 c. Income from write-ups 78,710 544,981 d. Realized gains on investments 473,839,486 1,785,420 e. Income from profit pooling and profit transfer agreements 282,593,773 40,324,700 f. Income from the release of special tax-allowable reserves – – 839,210,502 144,929,988 2. Investment expenses a. Investment management expenses, interest expenses and other investment expenses 5,351,761 4,215,745 b. Write-downs on investments 4,571,382 1,319,842 c. Realized losses on investments 432,475 – d. Expenses for losses assumed e. Allocation to special tax-allowable – – reserves 357,608 – 10,713,226 5,535,587 828,497,276 139,394,401 3. Allocated investment return –41,868,699 –35,848,288 786,628,577 103,546,113 4. Other income 19,802,043 14,568,164 5. Other expenses 39,698,391 29,500,508 –19,896,348 –14,932,344 6. Non-technical result 766,732,229 88,613,768 7. Result from ordinary activities 702,547,547 44,415,407 39
- Page 1 and 2: 2002 R+V Versicherung AG Annual Rep
- Page 3 and 4: Content Management Report 4 Proposa
- Page 5 and 6: However, the significant increase i
- Page 7 and 8: Developments on the international r
- Page 9 and 10: However, the events of September 11
- Page 11 and 12: As a result of the relatively poor
- Page 13 and 14: Business development and position o
- Page 15 and 16: Liability business developed negati
- Page 17 and 18: Including interest on deposits and
- Page 19 and 20: In terms of sums insured, the portf
- Page 21 and 22: Overall, gross premium income decli
- Page 23 and 24: Major claim events such as ”Petro
- Page 25 and 26: Shareholder structure As of the bal
- Page 27 and 28: Investment risks: In order to creat
- Page 29: Significant events and outlook The
- Page 32 and 33: Proposal on the Appropriation of Pr
- Page 34 and 35: Balance Sheet as of December 31, 20
- Page 36 and 37: Equity and liabilities 36 2002 2001
- Page 40 and 41: 40 2002 2001 € € € € 8. Ext
- Page 42 and 43: Premiums and discounts were amortiz
- Page 44 and 45: List of Shareholdings Shares in aff
- Page 46 and 47: Notes to the Balance Sheet Statemen
- Page 48 and 49: Assets C. Investments Present value
- Page 50 and 51: Notes to the Income Statement I. 1
- Page 52 and 53: Dr. Jürgen Förterer Chairman Wolf
- Page 54 and 55: Auditors’ Report We have audited
2002 2001<br />
€ € € € €<br />
II. Non-technical account<br />
1. Investment income<br />
a. Income from investments<br />
thereof:<br />
from affiliated companies<br />
3,081,850 32,163,626<br />
€2,450,000 (€31,466,306)<br />
b. Miscellaneous investment income<br />
thereof:<br />
from affiliated companies<br />
€26,822,301 (€28,756,194)<br />
aa. Income from land, land rights and<br />
buildings including buildings on third<br />
party land 584,604 531,163<br />
bb. Miscellaneous investment income 79,032,078 79,616,683 69,580,098<br />
c. Income from write-ups 78,710 544,981<br />
d. Realized gains on investments 473,839,486 1,785,420<br />
e. Income from profit pooling and profit<br />
transfer agreements 282,593,773 40,324,700<br />
f. Income from the release of special<br />
tax-allowable reserves – –<br />
839,210,502 144,929,988<br />
2. Investment expenses<br />
a. Investment management expenses,<br />
interest expenses and other investment<br />
expenses 5,351,761 4,215,745<br />
b. Write-downs on investments 4,571,382 1,319,842<br />
c. Realized losses on investments 432,475 –<br />
d. Expenses for losses assumed<br />
e. Allocation to special tax-allowable<br />
– –<br />
reserves 357,608 –<br />
10,713,226 5,535,587<br />
828,497,276 139,394,401<br />
3. Allocated investment return –41,868,699 –35,848,288<br />
786,628,577 103,546,113<br />
4. Other income 19,802,043 14,568,164<br />
5. Other expenses 39,698,391 29,500,508<br />
–19,896,348 –14,932,344<br />
6. Non-technical result 766,732,229 88,613,768<br />
7. Result from ordinary activities 702,547,547 44,415,407<br />
39
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