Assets and shareholders’ equity

Assets

The balance sheet structure of the Talanx Group is shaped by its character as a diversified financial services group and its activities as a globally operating insurance group. The dominant item on the assets side is the investments, which – excluding funds held by ceding companies (EUR 11.0 billion) – accounted for 65% of total assets. They serve first and foremost as security for the provisions constituted in insurance business, which – including provisions in the area of life insurance insofar as the investment risk is borne by policyholders – totaled EUR 72.5 billion. Over and above this, the most important sources of funding are the shareholders’ equity (7% of the balance sheet total) and the issued subordinated debt (3% of the balance sheet total).