Consolidated financial statements

Consolidated statement of income of Talanx AG
for the 2010 financial year

 

Note

 

2010

2009 1)

Figures in EUR million

       

1. Gross written premium including premium from unit-linked life and annuity insurance

 

22,869

 

20,923

2. Savings elements of premium from unit-linked life and annuity insurance

 

1,139

 

979

3. Ceded written premium

 

2,767

 

2,530

4. Change in gross unearned premium

 

–185

 

–67

5. Change in ceded unearned premium

 

25

 

24

Net premium earned

28

 

18,753

17,323

         

6. Claims and claims expenses (gross)

30

17,810

 

15,101

Reinsurers’ share

 

1,712

 

1,043

Claims and claims expenses (net)

   

16,098

14,058

         

7. Acquisition costs and administrative expenses (gross)

31

4,887

 

4,754

Reinsurers’ share

 

515

 

710

Acquisition costs and administrative expenses (net)

   

4,372

4,044

         

8. Other technical income

 

71

 

43

Other technical expenses

 

390

 

295

Other technical result

   

–319

–252

         

Net technical result

   

–2,036

–1,031

         

9. a. Income from investments

29

3,383

 

3,321

b. Expenses for investments

29

486

 

903

Net income from investments under own management

 

2,897

 

2,418

Income/expense on funds withheld and contract deposits

29

280

 

240

Net investment income

   

3,177

2,658

thereof profit/loss from investments in associated companies

 

2

 

–6

         

10. a. Other non-technical income

32

947

 

967

b. Other non-technical expenses

32

1,039

 

1,005

Other income/expenses

   

–92

–38

         

Profit before goodwill impairments

   

1,049

1,589

         

11. Goodwill impairments

33

 

17

92

Operating profit/loss (EBIT)

   

1,032

1,497

         

12. Financing costs

34

 

134

133

13. Taxes on income

35

 

228

471

         

Net income

   

670

893

thereof minority interest in profit or loss

   

450

408

thereof Group net income

   

220

485


1) Figures for the previous year adjusted on the basis of IAS 8 and IFRS 8; see explanatory remarks in the section “Summary of major accounting policies”

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The following Group Notes form an integral part of the consolidated financial statement.