Notes on the consolidated balance sheet – assets

(1) Goodwill

 

2010

2009

Figures in EUR million

   

Gross book value at 31.12. of the previous year

741

677

Currency translation at 01.01. of the year under review

13

20

Gross book value after currency translation at 01.01.
of the year under review

754

697

Change in consolidated group

15

Additions

28

Currency exchange rate differences

1

Gross book value at 31.12. of the year under review

754

741

     

Accumulated depreciation and accumulated impairment losses at 31.12. of the previous year

148

56

Currency translation at 01.01. of the year under review

Accumulated depreciation and accumulated impairment losses after currency translation at 01.01. of the year under review

148

56

Impairments

17

92

Accumulated deprecation and accumulated impairment losses at 31.12. of the year under review

165

148

     

Balance at 31.12. of the previous year

593

621

Balance at 31.12. of the year under review

589

593

The recognized goodwill derived mainly from the acquisition of HDI Seguros de Automóveis e Bens S. A., Brazil, in 2005, the purchase of the former Gerling Group by Talanx AG in 2006, the increase of the interest held by the Group in PB Versicherungen to 100% in 2007 and the purchase of 100% stakes in PBV Lebensversicherung AG (previously: BHW Lebensversicherung AG) and PB Pensionskasse AG (previously: BHW Pensionskasse AG) (both also 2007).

The decrease in goodwill to EUR 589 million was attributable to impairments of EUR 17 million taken in the year under review in the Retail International segment in connection with impairment tests (see our explanatory remarks in the following subsection).