Annual Report 2011 - R+V Versicherung

54
Notes to the balance sheet
B. CAPITAL ASSETS
in EUR million 2011
Balance sheet items Book value Current value Reserve
I. Land, similar rights and buildings, including buildings on third party land 3.4 8.2 4.7
II. Capital investments in affiliated companies and holdings
1. Shares in affiliated companies 1,997.5 4,469.1 2,471.6
2. Loans to affiliated companies 132.2 134.2 2.0
3. Holdings 1.0 1.3 0.2
III.Other capital assets
1 Shares, investment certificates and other variable yield securities 259.9 256.1 –3.8
2. Bearer bonds and other fixed interest securities 587.3 607.8 20.5
4. Other loans
4a) Registered bonds 349.3 374.7 25.4
4b) Bonded debt receivables and loans 264.6 281.7 17.0
5. Deposits at banks 52.6 52.6 0.0
6. Other retained earnings 5.1 5.0 –0.1
IV.Deposits with ceding undertakings 197.7 197.7 0.0
Total capital assets 3,850.6 6,388.2 2,537.6
The book values take into account the balance of premiums
and discounts (+ 0.2 m euros) for the nominal registered
bonds.
The calculation of current values was based on stock exchange
prices, redemption prices and market prices respectively for
registered bonds and bonded debt in accordance with the
discounted cash flow method or the net capitalised earning
method in accordance with IDW S1 or the net asset value.
The building was revalued as of 31 December 2011.
The land is valued every five years; last valued in 2009.
If any other valuation methods have been used, these comply
with the provisions of § 56 RechVersV.
295.3 m euros were allocated to fixed investments in accordance
with § 341 b Section 2 HGB. This includes positive
valuation reserves of 0.8 m euros and negative reserves of
7.4 m euros as of 31 December 2011.
The valuation reserves of the total capital investments amount
to 2,537.6 m euros, which corresponds to a reserve ratio of
65.9%.