(1) Goodwill
|
2007 |
2006 1) |
|
|
Figures in EUR million |
||
|
Gross book value at 31.12. of the previous year |
423 |
292 |
|
Adjustment for transition to common control |
— |
–11 |
|
Adjusted gross book value at 31.12. of the previous year |
423 |
281 |
|
Currency translation at 01.01. of the year under review |
9 |
–7 |
|
Gross book value after currency translation at 01.01. of the year under review |
432 |
274 |
|
Change in consolidated group |
306 |
150 |
|
Additions |
— |
6 |
|
Disposals |
49 |
1 |
|
Disposal group pursuant to IFRS 5 |
— |
–7 |
|
Currency exchange rate differences |
— |
1 |
|
Gross book value at 31.12. of the year under review |
689 |
423 |
|
Accumulated depreciation and accumulated impairment losses |
2 |
2 |
|
Currency translation at 01.01. of the year under review |
— |
— |
|
Accumulated depreciation and accumulated impairment losses after currency translation |
2 |
2 |
|
Impairments |
50 |
— |
|
Accumulated deprecation and accumulated impairment losses |
52 |
2 |
|
Balance at 31.12. of the previous year |
421 |
279 |
|
Balance at 31.12. of the year under review |
637 |
421 |
|
1) Adjusted on the basis of IAS 8 | ||
In the year under review an impairment of EUR 50 million was taken on the goodwill allocated to the cash generating unit (CGU) "Neue Leben Group". The European Embedded Value (EEV) as at 31 December 2006 for Neue Leben Lebensversicherung was calculated in June 2007. The indicative fair value of Neue Leben Lebensversicherung calculated on this basis with the aid of a multiplier produced a fair value for the CGU that was lower than the corresponding book value by the amount of the impairment. The allocated goodwill originally amounting to EUR 83 million was written down by the specified amount, as a result of which the book value of the CGU as at 31 December 2007 corresponded to its fair value. The CGU "Neue Leben Group" is recognized in the Life Primary Insurance segment.
Goodwill of altogether EUR 306 million materialized within the scope of the increase in the interests held by the Group in the PB insurers to 100% (see section entitled "Business combinations in the reporting period") and the acquisition of 100% stakes in BHW Lebensversicherung AG and BHW Pensionskasse AG. The acquired units are allocated to the CGU "Bancassurance" in the Life Primary Insurance segment.