talanx group annual report 2011 en
talanx group annual report 2011 en
talanx group annual report 2011 en
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Nature of risks Notes on the balance<br />
Notes on the balance<br />
sheet – assets<br />
sheet – liabilities<br />
<strong>2011</strong> 1)<br />
Figures in EUR million<br />
Notes on the consolidated<br />
statem<strong>en</strong>t of income<br />
(29) Net investm<strong>en</strong>t income<br />
Industrial<br />
Lines<br />
Retail<br />
Germany<br />
Retail<br />
International<br />
Non-Life<br />
Reinsurance<br />
Other information List of shareholdings<br />
Life/Health<br />
Reinsurance<br />
Corporate<br />
Operations Total<br />
Income from real estate 5 52 2 38 — — 97<br />
Divid<strong>en</strong>ds 2) 6 19 1 12 –2 15 51<br />
Curr<strong>en</strong>t interest income 200 1,507 152 659 209 7 2,734<br />
Other income 4 13 — 38 1 — 56<br />
Ordinary investm<strong>en</strong>t income 215 1,591 155 747 208 22 2,938<br />
Appreciation 8 26 3 37 — — 74<br />
Realised gains on investm<strong>en</strong>ts 45 231 29 223 40 — 568<br />
Unrealised gains on investm<strong>en</strong>ts 1 51 24 25 10 — 111<br />
Investm<strong>en</strong>t income 269 1,899 211 1,032 258 22 3,691<br />
Realised losses on investm<strong>en</strong>ts 24 144 8 79 4 — 259<br />
Unrealised losses on investm<strong>en</strong>ts 3 44 18 17 58 1 141<br />
Total 27 188 26 96 62 1 400<br />
Impairm<strong>en</strong>ts/depreciation<br />
on investm<strong>en</strong>t property<br />
Scheduled 1 10 — 9 — — 20<br />
Unscheduled 1 18 — — — — 19<br />
Impairm<strong>en</strong>ts on equity securities 16 52 16 1 — 6 91<br />
Impairm<strong>en</strong>ts on fixed-income securities 9 13 2 6 — — 30<br />
Impairm<strong>en</strong>ts on other investm<strong>en</strong>ts<br />
Exp<strong>en</strong>ses for the administration<br />
2 9 — 15 — — 26<br />
of investm<strong>en</strong>ts 3) 4 6 1 9 1 50 71<br />
Other exp<strong>en</strong>ses 13 26 3 30 2 4 78<br />
Other investm<strong>en</strong>t exp<strong>en</strong>ses/impairm<strong>en</strong>ts 46 134 22 70 3 60 335<br />
Investm<strong>en</strong>t exp<strong>en</strong>ses<br />
Net income from investm<strong>en</strong>ts<br />
73 322 48 166 65 61 735<br />
under own managem<strong>en</strong>t 196 1,577 163 866 193 –39 2,956<br />
Interest income on funds<br />
withheld and contract deposits<br />
Interest exp<strong>en</strong>se on funds<br />
1 — — 22 399 — 422<br />
withheld and contract deposits<br />
Net interest income on funds<br />
— 22 — 8 86 — 116<br />
withheld and contract deposits 1 –22 — 14 313 — 306<br />
Net investm<strong>en</strong>t income 197 1,555 163 880 506 –39 3,262<br />
1) Pres<strong>en</strong>tation after elimination of intra-Group relations betwe<strong>en</strong> segm<strong>en</strong>ts<br />
2) The profit or loss on investm<strong>en</strong>ts in associated companies amounts to EUR 0 (2) million<br />
3) Exp<strong>en</strong>ses for the administration of non-Group investm<strong>en</strong>ts are recognised under other exp<strong>en</strong>ses with<br />
effect from the curr<strong>en</strong>t <strong>report</strong>ing period. The previous year was adjusted accordingly (EUR 47 million)<br />
Talanx Group. Annual Report <strong>2011</strong><br />
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