talanx group annual report 2011 en

184
Financial statements Notes
General information
Talanx Group. Annual Report 2011
Accounting principles
and policies
Segment reporting Consolidation,
business combinations
Non-current assets held for
sale and disposal groups
Pursuant to IFRS 5, PO and A-Lie each constitute a disposal group, which is to be measured at the
lower of the carrying amount and fair value less costs to sell. The measurement of PO consequently
gave rise to an expense amounting to EUR 4 million, which was recognised in other income and
expenses.
In compliance with IFRS 5 the assets and liabilities of the disposal groups are recognised in a balance
sheet item distinct from continuing operations. Transactions between the disposal group and the
Group’s continuing operations continue to be entirely eliminated in conformity with IAS 27.
The assets of PO amounted to EUR 8 million as at balance sheet date; EUR 7 million was attributable
to cash and EUR 1 million to other assets. These assets are offset by liabilities totaling EUR 8 million,
which are all attributable to other provisions.
The assets and liabilities of the disposal group A-Lie with regard to their major components are as
follows:
Figures in EUR million
31.12.2011
Assets
Investments 1
Investments for the account and risk of holders of life insurance policies 261
Reinsurance recoverables on technical provisions 24
Accounts receivable on insurance business 3
Deferred acquisition costs 99
Cash 46
Deferred tax assets 1
Other assets 5
Assets held for sale 440
Liabilities
Technical provisions
Technical provisions in the area of life insurance insofar as the
81
investment risk is borne by policyholders 261
Sundry provisions 4
Funds withheld 16
Other liabilities 24
Liabilities related to assets held for sale 386
The cumulative comprehensive income as at balance sheet date amounted to −EUR 1 million.