R+V Versicherung AG Annual Report

Assets
C. Investments
Present values of investments carried at cost thereof fixed assets in
accordance with section 341 b (2) HGB
Book value Present value Book value Present value
Type of investment €m €m €m €m
Land 4 9 – –
Fixed-income securities 254 265 – –
Other investments 1,602 3,309 52 48
1,859 3,583 52 48
The revaluation reserves of the investments carried at cost including fixed assets amount to €1,724 million net, or 80.4% of total investments.
The reserves for investments carried at their nominal amount were not taken into account.
Generally, present values were calculated on the basis of market prices, or using a simplified capitalized earnings value method.
All three plots of land were last appraised in 2002.
Where other carrying amounts have been used in individual cases, these correspond with the provisions of section 56 RechVersV.
In accordance with section 341b HGB, investments in the amount of €51.9 million were allocated to fixed assets.
This includes negative revaluation reserves in the amount of €3.9 million based on prices as of December 31, 2002.
C.I. Land, land rights and buildings including buildings on third-party land
The balance sheet value of land used predominantly by R+V companies amounts to €3,844,809.
G. II. Other prepaid expenses 2002
€
Discount on subordinated loans 57,520
Premium on investments 852,584
Expenses relating to subsequent fiscal years 11,648,932
12,559,036
48