talanx group annual report 2011 en

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262 Financial statements Notes General information 2011 1) Talanx Group. Annual Report 2011 Accounting principles and policies Segment reporting Consolidation, business combinations Non-current assets held for sale and disposal groups Making allowance for expenses for the administration of investments (EUR 71 (78) million) and other expenses (EUR 78 (55) million), the total net investment income as at the balance sheet date amounted to EUR 3,262 (3,224) million. Ordinary investment income Amor tisation Gains on disposal Losses on disposal Impairments Appreciation Unrealised gains Unrealised losses Total 2) Figures in EUR million Investments in affiliated companies and participating interests 6 — — 2 — — — — 4 Loans and receivables 1,263 66 58 3 21 3 — — 1,366 Financial assets held to maturity Financial assets available for sale 125 21 1 — — — — — 147 Fixed-income securities 1,164 –28 290 113 12 18 — — 1,319 Variable-yield securities Financial assets at fair value through profit or loss Financial assets classified at fair value through profit or loss 48 — 78 58 92 4 1 2 –21 Fixed-income securities 44 — 17 6 — — 28 34 49 Variable-yield securities Financial instruments held for trading 1 — 1 1 — — 1 1 1 Fixed-income securities 1 — 1 — — — — — 2 Variable-yield securities — — 3 2 — — — 2 –1 Derivatives Other invested assets, insofar as 1 — 42 41 — — 34 59 –23 they are financial assets 61 — 24 1 21 30 1 2 92 Other 1) 160 5 53 32 40 19 46 41 170 Investments under own management Funds held by ceding companies/funds 2,874 64 568 259 186 74 111 141 3,105 held under reinsurance treaties 306 — — — — — — — 306 Total 3,180 64 568 259 186 74 111 141 3,411 1) For the purposes of reconciliation with the consolidated statement of income, the “Other” item combines the gains on investment property, associated companies and derivative financial instruments – insofar as the fair values are negative. Derivatives held for hedging purposes within the scope of hedge accounting (see item 12) are not included in the list if they do not relate to hedges in the area of investments 2) No allowance made for expenses for the administration of investments and other expenses
Nature of risks Notes on the balance Notes on the balance sheet – assets sheet – liabilities 2010 1) Ordinary investment income Amor tisation Gains on disposal Notes on the consolidated statement of income Losses on disposal Impairments Other information List of shareholdings Appreciation Unrealised gains Unrealised losses Total Figures in EUR million Investments in affiliated companies and participating interests 3 — — — 3 — — — — Loans and receivables 1,265 79 53 20 10 3 — — 1,370 Financial assets held to maturity Financial assets available for sale 120 — — — — — — — 120 Fixed-income securities 1,036 20 251 42 8 30 — — 1,287 Variable-yield securities Financial assets at fair value through profit or loss Financial assets classified at fair value through profit or loss 65 — 121 16 51 — — — 119 Fixed-income securities 42 — 23 3 — — 45 24 83 Variable-yield securities Financial instruments held for trading — — — — — — 2 — 2 Fixed-income securities 4 — — — — — 1 — 5 Variable-yield securities — — 3 1 — — — — 2 Derivatives Other invested assets, insofar 4 — 23 23 — — 18 2 20 as they are financial assets 29 — 7 — 22 4 4 — 22 Other 1) 109 6 9 — 21 — 4 60 47 Investments under own management Funds held by ceding companies/funds 2,677 105 490 105 115 37 74 86 3,077 held under reinsurance treaties 280 — — — — — — — 280 Total 2,957 105 490 105 115 37 74 86 3,357 1) For the purposes of reconciliation with the consolidated statement of income, the “Other” item combines the gains on investment property, associated companies and derivative financial instruments – insofar as the fair values are negative. Derivatives held for hedging purposes within the scope of hedge accounting (see item 12) are not included in the list if they do not relate to hedges in the area of investments 2) No allowance made for expenses for the administration of investments and other expenses The interest income on investments was as follows in the year under review: Interest income from investments 2011 2010 Figures in EUR million Loans and receivables 1,329 1,344 Financial assets held to maturity 146 120 Financial assets available for sale Financial assets at fair value through profit or loss 1,136 1,056 Financial assets classified at fair value through profit or loss 44 42 Financial instruments held for trading 1 4 Other 78 50 Total 2,734 2,616 Talanx Group. Annual Report 2011 263
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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 215 and 216: Nature of risks Notes on the balanc
Page 265: 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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