talanx group annual report 2011 en

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258 Financial statements Notes General information 2011 1) Talanx Group. Annual Report 2011 Accounting principles and policies (28) Net premium earned Segment reporting Consolidation, business combinations Non-current assets held for sale and disposal groups The gross written premium includes the savings elements of premiums under unit-linked life and annuity policies. These savings elements were eliminated from the net premium earned. Industrial Lines Retail Germany Retail International Non-Life Reinsurance Life/Health Reinsurance Total Figures in EUR million Gross written premium including premium from unit-linked life and annuity insurance Savings elements of premium from 3,109 6,649 2,482 6,417 5,025 23,682 unit-linked life and annuity insurance — 871 241 — — 1,112 Ceded written premium 1,419 158 158 572 425 2,732 Change in gross unearned premium –27 6 –107 –250 –7 –385 Change in ceded unearned premium –13 — 4 5 1 –3 Net premium earned 1,676 5,626 1,972 5,590 4,592 19,456 2010 1) Notes on the consolidated statement of income Industrial Lines Retail Germany 2) Retail International 2) Non-Life Reinsurance Life/Health Reinsurance Total Figures in EUR million Gross written premium including premium from unit-linked life and annuity insurance Savings elements of premium from 3,048 6,802 2,233 5,973 4,813 22,869 unit-linked life and annuity insurance — 932 207 — — 1,139 Ceded written premium 1,363 210 88 692 414 2,767 Change in gross unearned premium 41 47 –76 –276 –13 –277 Change in ceded unearned premium 42 –11 19 –39 — 11 Net premium earned 1,684 5,718 1,843 5,044 4,386 18,675 1) Presentation after elimination of intra-Group relations 2) Adjusted on the basis of IAS 8
Nature of risks Notes on the balance Notes on the balance sheet – assets sheet – liabilities 2011 1) Figures in EUR million Notes on the consolidated statement of income (29) Net investment income Industrial Lines Retail Germany Retail International Non-Life Reinsurance Other information List of shareholdings Life/Health Reinsurance Corporate Operations Total Income from real estate 5 52 2 38 — — 97 Dividends 2) 6 19 1 12 –2 15 51 Current interest income 200 1,507 152 659 209 7 2,734 Other income 4 13 — 38 1 — 56 Ordinary investment income 215 1,591 155 747 208 22 2,938 Appreciation 8 26 3 37 — — 74 Realised gains on investments 45 231 29 223 40 — 568 Unrealised gains on investments 1 51 24 25 10 — 111 Investment income 269 1,899 211 1,032 258 22 3,691 Realised losses on investments 24 144 8 79 4 — 259 Unrealised losses on investments 3 44 18 17 58 1 141 Total 27 188 26 96 62 1 400 Impairments/depreciation on investment property Scheduled 1 10 — 9 — — 20 Unscheduled 1 18 — — — — 19 Impairments on equity securities 16 52 16 1 — 6 91 Impairments on fixed-income securities 9 13 2 6 — — 30 Impairments on other investments Expenses for the administration 2 9 — 15 — — 26 of investments 3) 4 6 1 9 1 50 71 Other expenses 13 26 3 30 2 4 78 Other investment expenses/impairments 46 134 22 70 3 60 335 Investment expenses Net income from investments 73 322 48 166 65 61 735 under own management 196 1,577 163 866 193 –39 2,956 Interest income on funds withheld and contract deposits Interest expense on funds 1 — — 22 399 — 422 withheld and contract deposits Net interest income on funds — 22 — 8 86 — 116 withheld and contract deposits 1 –22 — 14 313 — 306 Net investment income 197 1,555 163 880 506 –39 3,262 1) Presentation after elimination of intra-Group relations between segments 2) The profit or loss on investments in associated companies amounts to EUR 0 (2) million 3) Expenses for the administration of non-Group investments are recognised under other expenses with effect from the current reporting period. The previous year was adjusted accordingly (EUR 47 million) Talanx Group. Annual Report 2011 259
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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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Page 211 and 212: Nature of risks Notes on the balanc
Page 261: Nature of risks Notes on the balanc
Page 297 and 298: Our Locations Argentina L’UNION d
Page 299 and 300: Italy Hannover Re Services Italy S.
Page 301 and 302: Glossary. A-C Accumulation risk Und
Page 303 and 304: L-P Lapse rate for life insurance p
Page 305 and 306: Index of key terms Acquisitions Cen
Page 307 and 308: ie Ireland. Hannover Life Re (Irela
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talanx group annual report 2011 en

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