talanx group annual report 2011 en
talanx group annual report 2011 en
talanx group annual report 2011 en
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262<br />
Financial statem<strong>en</strong>ts Notes<br />
G<strong>en</strong>eral information<br />
<strong>2011</strong> 1)<br />
Talanx Group. Annual Report <strong>2011</strong><br />
Accounting principles<br />
and policies<br />
Segm<strong>en</strong>t <strong>report</strong>ing Consolidation,<br />
business combinations<br />
Non-curr<strong>en</strong>t assets held for<br />
sale and disposal <strong>group</strong>s<br />
Making allowance for exp<strong>en</strong>ses for the administration of investm<strong>en</strong>ts (EUR 71 (78) million) and<br />
other exp<strong>en</strong>ses (EUR 78 (55) million), the total net investm<strong>en</strong>t income as at the balance sheet date<br />
amounted to EUR 3,262 (3,224) million.<br />
Ordinary<br />
investm<strong>en</strong>t<br />
income<br />
Amor tisation<br />
Gains on<br />
disposal<br />
Losses on<br />
disposal<br />
Impairm<strong>en</strong>ts<br />
Appreciation<br />
Unrealised<br />
gains<br />
Unrealised<br />
losses Total 2)<br />
Figures in EUR million<br />
Investm<strong>en</strong>ts in affiliated companies and<br />
participating interests 6 — — 2 — — — — 4<br />
Loans and receivables 1,263 66 58 3 21 3 — — 1,366<br />
Financial assets held to maturity<br />
Financial assets available for sale<br />
125 21 1 — — — — — 147<br />
Fixed-income securities 1,164 –28 290 113 12 18 — — 1,319<br />
Variable-yield securities<br />
Financial assets at fair value<br />
through profit or loss<br />
Financial assets classified at<br />
fair value through profit or loss<br />
48 — 78 58 92 4 1 2 –21<br />
Fixed-income securities 44 — 17 6 — — 28 34 49<br />
Variable-yield securities<br />
Financial instrum<strong>en</strong>ts held for trading<br />
1 — 1 1 — — 1 1 1<br />
Fixed-income securities 1 — 1 — — — — — 2<br />
Variable-yield securities — — 3 2 — — — 2 –1<br />
Derivatives<br />
Other invested assets, insofar as<br />
1 — 42 41 — — 34 59 –23<br />
they are financial assets 61 — 24 1 21 30 1 2 92<br />
Other 1) 160 5 53 32 40 19 46 41 170<br />
Investm<strong>en</strong>ts under own managem<strong>en</strong>t<br />
Funds held by ceding companies/funds<br />
2,874 64 568 259 186 74 111 141 3,105<br />
held under reinsurance treaties 306 — — — — — — — 306<br />
Total 3,180 64 568 259 186 74 111 141 3,411<br />
1) For the purposes of reconciliation with the consolidated statem<strong>en</strong>t of income, the “Other” item combines the gains on<br />
investm<strong>en</strong>t property, associated companies and derivative financial instrum<strong>en</strong>ts – insofar as the fair values are negative.<br />
Derivatives held for hedging purposes within the scope of hedge accounting (see item 12) are not included in the list if they<br />
do not relate to hedges in the area of investm<strong>en</strong>ts<br />
2) No allowance made for exp<strong>en</strong>ses for the administration of investm<strong>en</strong>ts and other exp<strong>en</strong>ses