Financial Services
Key figures: Financial Services
| 2007 | 2006 | 2005 | 2004 | 2003 1) |
Figures in EUR million |
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Net investment income | –67 | –49 | –28 | –25 | –25 |
Other income | 144 | 121 | 73 | 61 | 36 |
Other expenses | 17 | 17 | 10 | 11 | 2 |
Operating result (EBIT) | 60 | 55 | 35 | 25 | 10 |
1) On the basis of US GAAP | |||||
This Talanx segment, which consists of the AmpegaGerling companies and the Group’s own reinsurance broker Protection Re, offers a product range that extends from individual investment concepts for private investors to comprehensive asset management solutions for institutional clients.
Multifaceted product and service expertise
The central task of the Group segment is asset management for all companies belonging to our Group – this ranges from strategic and operational investment decisions for the various portfolios to administrative services such as investment bookkeeping, accounting and investment reporting.
These tasks are performed by AmpegaGerling Asset Management GmbH, AmpegaGerling Investment GmbH and AmpegaGerling Immobilien Management GmbH. AmpegaGerling is thus one of the largest asset managers in Germany with no ties to a banking partner. AmpegaGerling Asset Management GmbH is responsible for investments made by the Talanx Group. AmpegaGerling Investment GmbH operates as a funds provider for private clients and institutional investors. AmpegaGerling Immobilien Management GmbH handles the coordination of real estate management for the Group. These three closely cooperating companies not only concentrate the management of all assets and real estate owned by the Talanx Group; they also make their asset management know-how available to institutional and retail clients outside the Group under the AmpegaGerling brand.
Institutional clients include inter alia insurers, "Pensionskassen" (pension insurance companies set up by one or more companies to serve exclusively their own employees), provident funds as well as external asset managers. The portfolio of products and services encompasses special funds, retail funds and institutional asset management activities, including specialized administration services for clients outside the Group. Private clients are able to invest in a broad range of funds for capital accumulation or in state-of-the-art, dynamic retirement provision.
Successful merger
The AmpegaGerling companies emerged in 2006 from the investment, asset management and real estate companies of the Ampega and Gerling brands. The integration was successfully completed with the uniting of the personnel in Cologne, and the merged companies commenced joint operations in May 2007.
Several distinctions testify to the success of the merger: the magazine "Fonds professionell" in cooperation with the rating firm Morningstar, for example, awarded AmpegaGerling the German Funds Prize in the category of "Investment companies with a small range of bond funds". In the international arena AmpegaGerling was crowned as the best funds provider of its size Europe-wide by the major daily newspapers of the participating countries, namely France, Spain, Italy, Luxembourg and Germany. The paramount rating criterion was the most solid return with a minimal risk.