talanx group annual report 2011 en
talanx group annual report 2011 en
talanx group annual report 2011 en
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Group key figures <strong>2011</strong> 2010 2009<br />
Talanx Group overall<br />
Gross writt<strong>en</strong> premium In EUR million 23,682 22,869 20,923<br />
by regions<br />
Germany In % 38 39 42<br />
C<strong>en</strong>tral and Eastern Europe (CEE) In % 4 3 2<br />
Rest of Europe In % 26 27 27<br />
North America In % 14 16 16<br />
Latin America In % 7 6 5<br />
Australia/Asia In % 9 7 6<br />
Other countries In % 2 2 2<br />
Net premium earned In EUR million 19,456 18,675 5) 17,323<br />
Underwriting result In EUR million –1,690 –2,036 –1,031<br />
Net investm<strong>en</strong>t income In EUR million 3,262 3,224 5) 2,658<br />
Operating profit (EBIT) In EUR million 1,245 1,032 1,497<br />
Net profit/loss for the period (after financing costs and taxes) In EUR million 897 667 5) 893<br />
Group net income (after non-controlling interests) In EUR million 520 216 5) 485<br />
Return on equity 1) In % 10.0 4.5 5) 11.8<br />
Breakdown by segm<strong>en</strong>ts 2)<br />
Industrial Lines<br />
Gross writt<strong>en</strong> premium In EUR million 3,138 3,076 3,077<br />
Net premium earned In EUR million 1,375 1,413 1,405<br />
Underwriting result In EUR million 155 –57 134<br />
Investm<strong>en</strong>t result In EUR million 204 231 240<br />
Operating profit (EBIT) In EUR million 321 185 334<br />
Retail Germany<br />
Gross writt<strong>en</strong> premium In EUR million 6,710 6,823 6,614<br />
Net premium earned In EUR million 5,461 5,502 5,158<br />
Underwriting result In EUR million –1,258 –1,631 –945<br />
Investm<strong>en</strong>t result In EUR million 1,530 1,577 1,207<br />
Operating profit (EBIT) In EUR million 110 –44 209<br />
Retail International<br />
Gross writt<strong>en</strong> premium In EUR million 2,482 2,233 1,827<br />
Net premium earned In EUR million 1,862 1,738 1,403<br />
Underwriting result In EUR million –43 –136 –99<br />
Investm<strong>en</strong>t result In EUR million 159 151 121<br />
Operating profit (EBIT) In EUR million 54 27 –42<br />
Non-Life Reinsurance<br />
Gross writt<strong>en</strong> premium In EUR million 6,826 6,340 5,753<br />
Net premium earned In EUR million 5,961 5,395 5,237<br />
Underwriting result In EUR million –264 78 136<br />
Investm<strong>en</strong>t result In EUR million 880 779 610<br />
Operating profit (EBIT) In EUR million 629 909 760<br />
Life/Health Reinsurance<br />
Gross writt<strong>en</strong> premium In EUR million 5,270 5,090 4,529<br />
Net premium earned In EUR million 4,789 4,654 4,078<br />
Underwriting result In EUR million –281 –290 –258<br />
Investm<strong>en</strong>t result In EUR million 512 508 525<br />
Operating profit (EBIT) In EUR million 225 276 371<br />
Combined ratio in non-life insurance and reinsurance 3) In % 101.0 100.9 96.7<br />
Combined ratio of the property/casualty insurers In % 96.6 104.5 96.6<br />
Combined ratio in non-life reinsurance In % 104.2 98.3 96.7<br />
<strong>2011</strong> 2010 2009<br />
Policyholders’ surplus In EUR million 11,321 10,771 9,156<br />
Shareholders' equity of Talanx AG In EUR million 5,421 4,945 5) 4,574<br />
Non-controlling interests In EUR million 3,285 3,035 2,579<br />
Hybrid capital In EUR million 2,615 2,791 2,003<br />
Investm<strong>en</strong>ts under own managem<strong>en</strong>t In EUR million 75,750 72,461 67,036<br />
Total investm<strong>en</strong>ts In EUR million 87,467 83,422 76,385<br />
Return on investm<strong>en</strong>t 4) In % 4.0 4.2 3.7<br />
Total assets In EUR million 115,268 111,100 5) 101,213<br />
Staff Capacities 17,061 16,874 16,921<br />
1) Net profit/loss for the year without non-controlling interests relative to average equity without non-controlling interests<br />
2) Before elimination of intra-Group cross-segm<strong>en</strong>t transactions<br />
3) Combined ratio adjusted for interest income on funds withheld and contract deposits, before elimination of intra-Group cross-segm<strong>en</strong>t transactions<br />
4) Investm<strong>en</strong>t result without interest income on funds withheld and contract deposits relative to average investm<strong>en</strong>ts under own managem<strong>en</strong>t<br />
5) Adjusted on the basis of IAS 8