talanx group annual report 2011 en

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272 Financial statements Notes General information Talanx Group. Annual Report 2011 Accounting principles and policies Segment reporting Consolidation, business combinations Non-current assets held for sale and disposal groups Availability of capitalised loss carry-forwards No deferred taxes were established on loss carry-forwards of EUR 644 (610) million, as in the previous year primarily in Germany and Luxembourg, and deductible temporary differences of EUR 23 (23) million in Turkey because their realisation is not sufficiently certain. In addition, in South Africa tax credits of EUR 4 (6) million that had not been capitalised were available. The deferred taxes that were not capitalised for these items total EUR 194 (180) million. Availability of loss carry-forwards and tax credits that have not been capitalised: Figures in EUR million 1 – 5 years 6 – 10 years > 10 years Unlimited Total Loss carry-forwards 67 — 27 550 644 Temporary differences — — — 23 23 Tax credits 4 — — — 4 Total 71 — 27 573 671 Loss carry-forwards not recognised in previous years reduced the deferred expense for taxes by EUR 17 (12) million in the year under review. The devaluation of deferred tax claims recognised in previous years led to a deferred tax expense of EUR 13 (12) million in the 2011 financial year.
Nature of risks Notes on the balance Notes on the balance sheet – assets sheet – liabilities Notes on the consolidated statement of income Other information Staff and related expenditure Other information List of shareholdings Staff The average number of staff employed throughout the year can be broken down as follows: 2011 2010 Industrial Lines 2,610 2,441 Retail Germany 5,810 6,792 Retail International 5,013 4,746 Reinsurance companies 2,210 2,130 Corporate Operations 2,176 1,671 Total excluding apprentices and student trainees 17,819 17,780 Apprentices and student trainees 475 442 Total 18,294 18,222 At the balance-sheet date, the Group had 18,314 (18,006) employees in all. The increase in the Corporate Operations segment is due to transfer of the German IT staff to Talanx Systeme AG, founded in 2011. Expenditures on personnel The expenditures on personnel comprise mainly expenditure on insurance operations, claims management expenditure and expenditure on management of investments. Breakdown of expenditures on personnel 2011 2010 Figures in EUR million Wages and salaries 956 925 Social security contributions and expenditure on provisions and assistance Social security contributions 119 137 Expenditures for pensions provision 71 19 Expenditures for assistance 17 19 207 175 Total 1,163 1,100 Talanx Group. Annual Report 2011 273
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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 225 and 226: Nature of risks Notes on the balanc
Page 275: 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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