talanx group annual report 2011 en

164
Financial statements Notes
General information
Segment reporting.
Statement of income for the 2011 financial year
Figures in EUR million
Talanx Group. Annual Report 2011
Accounting principles
and policies
Segment reporting Consolidation,
business combinations
Non-current assets held for
sale and disposal groups
Industrial Lines Retail Germany Retail International
2011 1) 2010 2011 2010 2) 2011 1) 2010 2)
1. Gross written premium including premium from
unit-linked life and annuity insurance 3,138 3,076 6,710 6,823 2,482 2,233
of which: with other segments 29 28 61 21 — —
with third parties 3,109 3,048 6,649 6,802 2,482 2,233
2. Savings elements of premium from
unit-linked life and annuity insurance — — 871 932 241 207
3. Ceded written premium 1,755 1,658 383 437 281 203
4. Change in gross unearned premium –28 37 5 48 –107 –76
5. Change in ceded unearned premium –20 42 — — –9 9
Net premium earned 1,375 1,413 5,461 5,502 1,862 1,738
6. Claims and claims expenses (gross) 2,323 2,047 5,816 6,020 1,557 1,432
Reinsurers’ share 1,316 878 140 199 174 22
Claims and claims expenses (net) 1,007 1,169 5,676 5,821 1,383 1,410
7. Acquisition costs and administrative expenses (gross) 579 568 1,128 1,282 536 657
Reinsurers’ share 277 256 161 172 40 210
Acquisition costs and administrative expenses (net) 302 312 967 1,110 496 447
8. Other technical income 109 10 13 28 14 17
Other technical expenses 20 –1 89 230 40 34
of which: amortisation PVFP — — 55 147 1 1
Other technical result 89 11 –76 –202 –26 –17
Net technical result 155 –57 –1,258 –1,631 –43 –136
9. a. Income from investments 282 268 1,921 1,793 210 174
b. Expenses for investments 2) 79 37 359 181 50 22
Net income from investments under own management 203 231 1,562 1,612 160 152
Income/expense on funds withheld and contract deposits 1 — –32 –35 –1 –1
Net investment income 204 231 1,530 1,577 159 151
of which: interest and similar income 213 223 1,527 1,485 152 119
impairments/depreciation on investments 29 7 102 68 18 8
write-ups on investments 9 — 26 10 2 —
profit/loss from investments in
associated companies — — 1 1 –3 –1
10. a. Other non-technical income 129 197 194 397 38 142
b. Other non-technical expenses 167 186 356 387 100 113
Other income/expenses –38 11 –162 10 –62 29
of which: interest and similar income 6 4 12 8 6 23
write-ups on accounts receivable and other assets 3 26 3 11 — —
interest and similar expenses 28 31 21 23 2 16
write-downs on accounts receivable
and other assets 31 7 7 24 10 14
Profit before goodwill impairments 321 185 110 –44 54 44
11. Goodwill impairments — — — — — 17
Operating profit/loss (EBIT) 321 185 110 –44 54 27
12. Financing costs 13 14 10 11 — —
13. Taxes on income 104 32 23 –12 17 47
Net income 204 139 77 –43 37 –20
of which non-controlling interest in profit or loss — — 8 — –2 –1
of which Group net income 204 139 69 –43 39 –19
1) In 2011, private-customer property insurance business in Austria was allocated to the Retail International segment (previously shown in the Industrial Lines segment);
prior-year figures were not adjusted
2) Adjusted on the basis of IAS 8