talanx group annual report 2011 en

Nature of risks Notes on the balance
Notes on the balance
Notes on the
sheet – assets
sheet – liabilities
statement of income
Figures in EUR million
Net loss reserve and its run-off in the Non-Life Reinsurance segment
Other information List of shareholdings
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Loss and loss adjustment
expense reserve
Cumulative payments for the year
in question and previous years
11,693 12,737 12,997 12,657 12,977 16,232 12,818 13,675 14,013 15,281 16,679
One year later 2,026 2,351 3,379 4,164 1,466 2,567 2,512 2,986 2,815 2,499
Two years later 3,466 5,185 6,892 5,290 3,481 4,316 4,320 4,640 4,062
Three years later 5,708 7,834 7,598 6,270 4,632 5,649 5,447 5,409
Four years later 8,234 8,456 8,338 7,053 5,756 6,458 6,006
Five years later 8,716 9,019 8,934 7,849 6,388 6,861
Six years later 9,107 9,458 9,579 8,311 6,710
Seven years later 9,450 10,029 9,929 8,585
Eight years later 9,869 10,298 10,151
Nine years later 10,071 10,455
Ten years later
Loss and loss adjustment expense reserve
(net) for the year in question and previous
years, plus payments made to date on the
original reserve
10,193
At the end of the year 11,693 12,737 12,997 12,657 12,977 16,232 12,818 13,675 14,013 15,281 16,679
One year later 10,295 10,639 12,810 13,138 13,966 12,365 12,481 13,486 13,909 14,472
Two years later 9,173 10,627 13,123 14,197 10,900 11,953 12,105 12,697 13,177
Three years later 9,247 10,961 14,044 11,829 10,473 11,711 11,924 11,896
Four years later 9,912 11,616 12,190 11,451 10,364 11,526 11,137
Five years later 10,486 10,201 11,991 11,426 10,194 10,816
Six years later 9,513 10,290 12,052 11,274 9,552
Seven years later 9,640 10,380 11,908 10,750
Eight years later 9,741 10,267 11,443
Nine years later 9,607 9,871
Ten years later
Change over the previous year
9,252
of the final loss reserve 1) 355 41 69 59 118 68 77 14 –69 77
of the consolidated group 289 54 40 42 46 13 5 1 1 —
Run-off result 66 –13 29 17 72 55 72 13 –70 77
in % 1 — — — 1 — 1 — –1 1
1) Example: The difference in 2001 is to be calculated (EUR 9,607 million minus EUR 9,252 million = EUR 355 million). This
figure is recorded and then updated in each subsequent period, e.g. in 2002 with the change from 2001 to 2002. Thus, in
2002, the first step involves calculating the difference between the two amounts for 2002 and then subtracting the result
from the value for 2001. The process is then repeated for each subsequent year
The positive run-off result of EUR 318 million in the current business year was largely attributable
to positive run-off of reserves in the credit/surety and marine/aviation segments, and in short-tail
property business.
Talanx Group. Annual Report 2011
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