4.4 Legal risk - Scor

Invested assets, Management classification vs IFRS classification
Return on investment and return on invested assets are calculated based on investments as defined for management
purposes. The following table is a reconciliation of this and IFRS figures as presented in Paragraph 20 – Financial
information concerning the issuer’s assets and liabilities, financial position and profits and losses:
IFRS
classification
In EUR million
Management
classification
As at 31 December 2012
Fixed
Real Other
Cash income Equities estate investments
Total
invested
assets
Funds
withheld
by
cedants
Total Accrued
investments interests
Technical
items 1)
Total
IFRS
classi
fication
Real estate investments 584 584 584 584
Equities 81 599 164 172 1,016 1,016 1,016
Fixed income 9,553 2 9,555 9,555 96 9,651
Available-for-sale
investments
9,634 599 164 174 10,571 10,571 96 10,667
Equities 0 53 107 160 160 160
Fixed income 55 55 55 1 56
Investments at fair value
55 53 107 215 215 1 216
through income
Loans and receivables 1,268 1,268 8,266 9,534 1 9,535
Derivative instruments 112 112
TOTAL INSURANCE
BUSINESS INVESTMENTS
10,957 652 748 281 12,638 8,266 20,904 98 112 21,114
Cash and cash equivalents 1,466 1,466 1,466 1,466
TOTAL INSURANCE 1,466 10,957 652 748 281 14,104 8,266 22,370 98 112 22,580
BUSINESS INVESTMENTS
AND CASH AND CASH
EQUIVALENTS
Direct real estate Unrealised
Gains and Losses (2) 98 98 98
Direct real estate debt (3) (217) (217) (217) (217)
Cash payable/receivable (3) (3) (3)
TOTAL MANAGEMENT
CLASSIFICATION
1,463 10,957 652 629 281 13 982 8,266 22,248
(1) Including Atlas cat bonds, mortality swap and FX derivatives
(2) Fair Value less Carrying Value of Real Estate Investments as at 31 December 2012 and 2011
(3) Real Estate financing related to real estate investments (buildings owned for investment) only
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