Segment report. Statement of income
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Reinsurance | ||||
| 2007 | 2006 1) | 2007 | 2006 1) | 2007 | 2006 1) | 2007 | 2006 |
Figures in EUR million |
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1. Gross written premium including premium from unit-linked life and annuity insurance | 6,012 | 5,632 | 5,354 | 4,603 | 5,584 | 7,143 | 3,083 | 2,794 |
thereof with other segments | 7 | 58 | — | — | 520 | 400 | 376 | 346 |
thereof with outside third parties | 6,005 | 5,574 | 5,354 | 4,603 | 5,064 | 6,743 | 2,707 | 2,448 |
2. Savings elements of premium from unit-linked life and annuity insurance | — | — | 944 | 718 | — | — | — | — |
3. Ceded written premium | 2,322 | 2,162 | 576 | 544 | 997 | 1,289 | 285 | 407 |
4. Change in gross unearned premium | 53 | 336 | –99 | –191 | 222 | 38 | — | –22 |
5. Change in ceded unearned premium | 33 | 23 | –68 | –78 | 206 | 254 | 3 | –9 |
Net premium earned | 3,709 | 3,783 | 3,803 | 3,228 | 4,603 | 5,638 | 2,795 | 2,374 |
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6. Investment income |
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a. Income from investments | 574 | 458 | 1,463 | 1,222 | 1,037 | 1,080 | 345 | 352 |
b. Expenses for investments | 92 | 69 | 371 | 361 | 192 | 155 | 32 | 7 |
| 482 | 389 | 1,092 | 861 | 845 | 925 | 313 | 345 |
thereof profit/loss from investments in associated companies | — | — | — | — | 9 | 5 | 2 | — |
7. Other income | 631 | 430 | 264 | 217 | 357 | 75 | 82 | 46 |
Total income | 4,822 | 4,602 | 5,159 | 4,306 | 5,805 | 6,638 | 3,190 | 2,765 |
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8. Claims and claims expenses (gross) | 4,699 | 4,020 | 4,149 | 3,484 | 4,176 | 4,493 | 2,285 | 1,943 |
Reinsurers’ share | 1,902 | 1,168 | 219 | 205 | 784 | 471 | 215 | 255 |
Claims and claims expenses (net) | 2,797 | 2,852 | 3,930 | 3,279 | 3,392 | 4,022 | 2,070 | 1,688 |
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9. Acquisition costs and administrative expenses (gross) | 1,313 | 1,100 | 831 | 714 | 1,523 | 1,690 | 906 | 917 |
Reinsurers’ share | 409 | 452 | 208 | 172 | 328 | 165 | 74 | 55 |
Acquisition costs and administrative expenses (net) | 904 | 648 | 623 | 542 | 1,195 | 1,525 | 832 | 862 |
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10. Other expenses | 846 | 729 | 335 | 333 | 332 | 278 | 58 | 69 |
Total expenses | 4,547 | 4,229 | 4,888 | 4,154 | 4,919 | 5,825 | 2,960 | 2,619 |
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Profit before amortization of insurance-related intangible assets and goodwill impairments | 275 | 373 | 271 | 152 | 886 | 813 | 230 | 146 |
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11. Amortization of insurance- | 35 | 34 | 143 | 41 | — | — | — | — |
Operating profit/loss (EBIT) | 240 | 339 | 128 | 111 | 886 | 813 | 230 | 146 |
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12. Interest on hybrid capital | 19 | 13 | 10 | 8 | 80 | 83 | — | — |
13. Taxes on income | 125 | 166 | 44 | 22 | 146 | 255 | –2 | 27 |
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Net income | 96 | 160 | 74 | 81 | 660 | 475 | 232 | 119 |
1) Adjusted on the basis of IAS 8 | ||||||||