Annual Report 2011 - R+V Versicherung

LIFE GROSS PREMIUMS
EUR million
32
24
16
8
0
2009
28.0
Management Report 4
Overview of the business
development of
R+V Versicherung AG
business taken over by Condor Lebensversicherungs-Aktiengesellschaft.
Gross premium income of 28.2 m euros remained
at the level of the previous year. Due to a slightly declining
settlement result of the loss provisions taken over in the previous
year as well as the higher commission expenses for the
newly taken over group business compared with the previous
year, the class closed with an technical gross profit of 4.7 m
euros (2010: 9.2 m euros).
Accident
Significantly improved class result before change to equalisation
provision
General accident insurance and motor accident insurance are
pooled in the accident insurance branch. As in previous years,
general accident insurance was the dominant individual class
in the insurance branch with a premium share of 99.1%.
LIFE – PORTFOLIO DEVELOPMENT
2010
EUR million according to total insured 2011 2010
Assumed business Capital 5,933.2 4,702.8
Total insured Annuity 1,888.0 1,418.2
Business ceded Capital 789.0 829.0
Total insured Annuity 1,390.7 937.8
Retained business Capital 5,144.2 3,873.7
Total insured Annuity 497.2 480.3
28.0
2011
28.2
ACCIDENT
Annual Financial Statements 35 Further Information 62 15
ACCIDENT GROSS PREMIUMS
EUR million
60
45
30
15
0
2009
49.0
2010
2009 2010 2011
Reported gross loss ratio 40.4 46.6 34.0
Gross expenses ratio 52.5 49.3 52.8
Gross combined ratio 92.9 95.9 86.7
52.8
2011
49.8
Written gross premiums of 49.8 m euros were overall 5.8%
below the level of the previous year (2010: 52.8 m euros). The
improvement in loss expenditure for the fiscal year of 6.4% to
27.7 m euros as well as the settlement result of the loss provisions
carried forward from the previous year, which improved
in comparison with the previous year by 112.9%, led to a
significantly lower reported gross loss ratio of 34.0% (2010:
46.6%).
Gross expenditure on insurance operations rose by 0.8 m
euros. Prior to the change in the equalisation provision and
similar provisions, the class result improved by 4.6 m euros to
6.8 m euros (2010: 2.2 m euros). Due to claims history the
equalisation provision and similar provisions were reinforced
by an allocation of 8.9 m euros (2010: 2.5 m euros). The own
account technical result was - 2.2 m euros (2010: - 0.6 m
euros).