4.4 Legal risk - Scor

20.1.2 CONSOLIDATED STATEMENTS OF INCOME
FOR THE YEAR ENDED 31 DECEMBER
In EUR million 2012 2011 2010
Gross written premiums Note 2 9,514 7,602 6,694
Change in unearned premiums (147) (187) (109)
Gross earned premiums 9,367 7,415 6,585
Other income and expense from reinsurance operations (36) (55) (23)
Investment income Note 20 625 665 708
Total income from ordinary activities 9,956 8,025 7,270
Gross benefits and claims paid (6,613) (5,654) (4,791)
Gross commission on earned premiums (1,909) (1,577) (1,408)
Net results of retrocession Note 21 (189) (7) (160)
Investment management expenses Note 22 (30) (26) (24)
Acquisition and administrative expenses Note 22 (349) (292) (263)
Other current operating expenses Note 22 (177) (120) (105)
Total other current operating income and expense (9,267) (7,676) (6,751)
CURRENT OPERATING RESULTS 689 349 519
Other operating expenses (50) (30) (29)
Other operating income 6 4 -
OPERATING RESULTS (BEFORE IMPACT OF
ACQUISITIONS) 645 323 490
Acquisition related expenses (1) (13) (33) -
Gain from bargain purchase Note 3 - 127 -
OPERATING RESULTS 632 417 490
Financing expenses Note 14 (106) (94) (46)
Share in results of associates - 7 11
CONSOLIDATED INCOME, BEFORE TAX 526 330 455
Corporate income tax Note 19 (108) - (36)
CONSOLIDATED NET INCOME 418 330 419
Attributable to:
Non-controlling interests - - 1
Group share 418 330 418
In EUR
Earnings per share Note 23 2.28 1.80 2.32
Earnings per share (Diluted) Note 23 2.24 1.77 2.27
(1) Includes acquisition related expenses with respect to the acquisition of Transamerica Re. For further detail refer also to Note 3.3 – Business Combination
193