talanx group annual report 2011 en

126
Consolidated
financial statement
Talanx Group. Annual Report 2011
Notes
General information
Accounting principles
and policies
Segment reporting Consolidation,
business combinations
Assets and
disposal groups
Consolidated statement of income
of Talanx AG for the 2011 financial year
Notes 2011 2010 1)
Figures in EUR million
1. Gross written premium including premium from
unit-linked life and annuity insurance
2. Savings elements of premium from unit-linked life
23,682 22,869
and annuity insurance 1,112 1,139
3. Ceded written premium 2,732 2,767
4. Change in gross unearned premium –385 –277
5. Change in ceded unearned premium –3 11
Net premium earned 28 19,456 18,675
6. Claims and claims expenses (gross) 30 19,128 17,718
Reinsurers’ share 2,381 1,698
Claims and claims expenses (net) 16,747 16,020
7. Acquisition costs and administrative expenses
(gross) 31 4,716 4,887
Reinsurers’ share 400 515
Acquisition costs and administrative expenses (net) 4,316 4,372
8. Other technical income 128 71
Other technical expenses 211 390
Other technical result –83 –319
Net technical result –1,690 –2,036
9. a. Income from investments 29 3,691 3,383
b. Expenses for investments 29 735 439
Net income from investments under own management
Net interest income on funds
2,956 2,944
withheld and contract deposits 29 306 280
Net investment income
thereof income from investments in associated
3,262 3,224
companies using the equity method — 2
10. a. Other income 32 704 947
b. Other expenses 32 1,031 1,086
Other income/expenses –327 –139
Profit before goodwill impairments 1,245 1,049
11. Goodwill impairments 33 — 17
Operating profit/loss (EBIT) 1,245 1,032
12. Financing costs 34 161 134
13. Taxes on income 35 187 231
Net income 897 667
thereof attributable to non-controlling interests 377 451
thereof Group net income 520 216
1) Adjusted on the basis of IAS 8
The following notes form an integral part of the consolidated financial statement.