Notes on the consolidated balance sheet – assets

(10) Other invested assets

The other invested assets of altogether EUR 4.2 (4.1) billion are composed principally of the following items:

  • participating interests in partnerships
  • loans to affiliated companies
  • short-term investments

The participating interests in partnerships relate principally to participating interests in private equity firms and are allocated to the “available for sale” category. The fair value (carrying amount) of these participating interests was EUR 1,017 (695) million as at the balance sheet date. The amortized cost of the participations amounted to EUR 722 (578) million; in addition, unrealized gains of EUR 298 (126) million and unrealized losses of EUR 3 (9) million from these investments were recognized directly in equity via the other income/expenses (item: “Other reserves”).

The loans to affiliated companies were measured largely at amortized cost. The carrying amount as at the balance sheet date was EUR 114 (117) million.

The short-term investments recognized consist predominantly of overnight money, time deposits and money market securities with a maturity of up to one year in an amount of EUR 3,037 (3,302) million, which were generally measured outside income at fair value. The amortized cost of these financial assets was EUR 3,034 (3,300) million; unrealized gains of EUR 3 (2) million were recognized outside income. The short-term investments are categorized within the Group as “financial assets available for sale”.