talanx group annual report 2011 en

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236 Financial statements Notes General information Talanx Group. Annual Report 2011 Accounting principles and policies (15) Other assets Segment reporting Consolidation, business combinations Non-current assets held for sale and disposal groups 2011 2010 Figures in EUR million Own-use real estate 698 646 Tax refund claims 210 266 Plant and equipment 146 140 Interest and rent due 11 15 Derivative financial instruments – hedging instruments, hedge accounting 21 — Sundry assets 779 714 Balance at 31.12. of the year under review 1,865 1,781 Development of own-use real estate 2011 2010 Figures in EUR million Gross book value at 31.12. of the previous year 689 822 Adjustment of values carried forward from previous years 1) — –23 Gross book value at 1.1. of the year under review 689 799 Change in consolidated group 5 — Additions 65 56 Disposals 5 136 Reclassification 3 –32 Reclassification due to IFRS 5 –3 — Currency exchange rate differences –2 2 Gross book value at 31.12. of the year under review 752 689 Accumulated depreciation and accumulated impairment losses at 31.12. of the previous year 43 210 Adjustment of values carried forward from previous years 1) Accumulated depreciation and accumulated impairment losses — –23 at 1.1. of the year under review 43 187 Change in consolidated group 1 — Additions — — Disposals Depreciation/impairment — 134 Scheduled 12 12 Unscheduled — 1 Revaluation after impairment 3 — Reclassification Accumulated depreciation and accumulated impairment losses 1 –23 at 31.12. of the year under review 54 43 Balance at 31.12. of the previous year 646 612 Balance at 31.12. of the year under review 698 646 1) The values carried forward were adjusted in connection with implementation of a new IT system; there were no implications for the carrying value The fair value of the own-use real estate amounted to EUR 756 (697) million as at the balance sheet date. These fair values were calculated largely using the discounted cash flow method. The methods used to determine the book values are set out in the section entitled “Accounting policies”, subsection “Summary of major accounting policies” on page 141.
Nature of risks Notes on the balance sheet – assets Notes on the balance sheet – liabilities Notes on the statement of income Other information List of shareholdings Of the own-use real estate, EUR 235 (245) million was allocated to special cover funds. The expenditures capitalised for buildings under construction amounted to EUR 17 (96) million as at the balance sheet date. Contractual commitments for the acquisition of property, plant and equipment totalled EUR 0 (2) million as at the balance sheet date. Development of plant and equipment 2011 2010 Figures in EUR million Gross book value at 31.12. of the previous year 397 411 Adjustment of values carried forward from previous years 1) — –27 Gross book value at 1.1. of the year under review 397 384 Change in consolidated group 5 — Additions 64 42 Disposals 17 38 Reclassification 4 1 Disposal group in accordance with IFRS 5 –5 — Other changes 1 — Currency exchange rate differences –2 8 Gross book value at 31.12. of the year under review 447 397 Accumulated depreciation and accumulated impairment losses at 31.12. of the previous year 257 263 Adjustment of values carried forward from previous years 1) Accumulated depreciation and accumulated impairment losses after — –27 currency translation at 1.1. of the year under review 257 236 Change in consolidated group 1 — Additions — — Disposals 11 30 Depreciation/impairment Scheduled 54 45 Unscheduled 1 1 Reclassification 1 1 Other changes — — Currency exchange rate differences Accumulated depreciation and accumulated impairment losses –2 4 at 31.12. of the year under review 301 257 Balance at 31.12. of the previous year 140 148 Balance at 31.12. of the year under review 146 140 1) The values carried forward were adjusted in connection with implementation of a new IT system; there were no implications for the carrying value Other assets 31.12.2011 31.12.2010 Figures in EUR million Trade accounts receivable 84 77 Receivables relating to investments 69 75 Receivables from non-group lead business 80 68 Other tangible assets 9 8 Claims under insurance for pension commitments 60 55 Prepaid insurance benefits 131 175 Surrender values 41 33 Prepaid expenses 33 37 Sundry assets 272 186 Total 779 714 Talanx Group. Annual Report 2011 237
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Group Annual Report 2011 Straightfo
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.� ,� �.� �,� Non-Life
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OuR VISION Talanx is the leading gl
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Our brands HDI-Gerling focuses part
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By contrast with the technical acco
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Dr. Heinz-Peter Roß Torsten Leue D
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Supervisory Board Committees Compos
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A further focus of our deliberation
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The annual financial statements are
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You can stand and work better on a
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Re-launch with a modern and efficie
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Forward together with a goal-orient
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under its own power and through acq
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Our targets: ambitious, but achieva
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Our premium volume has risen steadi
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Our target: to be fit for the futur
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Group management report. Detailed i
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Overall assessment of the economic
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Nature of risks Notes on the consol
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Nature of risks Notes on the balanc
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Our Locations Argentina L’UNION d
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Italy Hannover Re Services Italy S.
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Glossary. A-C Accumulation risk Und
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L-P Lapse rate for life insurance p
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Index of key terms Acquisitions Cen
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ie Ireland. Hannover Life Re (Irela
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