UNIQA Group Report 2010 - 34. Net investment income

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By segment			Property and casualty		Health		Life		Group
			2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000
I.	Properties held as investments		3,932	17,005	6,065	5,571	6,006	73,917	16,003	96,493
II.	Shares in associated companies		984	5,140	12,726	227	8,302	–67,662	22,012	–62,295
III.	Variable-yield securities		33,699	8,352	10,018	5,534	102,707	57,469	146,424	71,355
	1.	Available for sale	29,998	6,990	5,618	4,590	37,211	10,836	72,827	22,417
	2.	At fair value through profit and loss	3,701	1,361	4,400	944	65,496	46,633	73,597	48,938
IV.	Fixed interest securities		52,262	80,024	94,424	57,117	583,085	345,431	729,771	482,571
	1.	Held to maturity	1,392	1,575	2,870	3,269	18,169	21,583	22,431	26,427
	2.	Available for sale	50,210	76,664	89,600	49,781	541,361	296,961	681,170	423,407
	3.	At fair value through profit or loss	660	1,785	1,955	4,066	23,555	26,887	26,170	32,738
V.	Loans and other investments		25,946	34,353	24,948	27,053	75,286	121,063	126,181	182,469
	1.	Loans	16,372	17,441	23,892	25,700	36,054	96,163	76,318	139,305
	2.	Other investments	9,575	16,911	1,056	1,353	39,232	24,900	49,863	43,164
VI.	Derivative financial instruments (held for trading)		–8,247	–2,602	–13,333	2,790	–91,421	18,188	–113,001	18,376
VII.	Expenditure for asset management, interest charges and other expenses		–17,252	–24,508	–7,327	–3,375	–30,494	–9,431	–55,073	–37,314
Total (fully consolidated values)			91,323	117,764	127,521	94,917	653,472	538,976	872,316	751,656

The expenditures for shares in associated companies in the previous year result from depreciations of STRABAG SE and Medicur-Holding Gesellschaft m.b.H.

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By income type			Ordinary income		Write-ups and unrealised capital gains		Realised capital gains		Write-offs and unrealised capital losses		Realised capital losses		Group		of which value adjustment
			2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000
I.	Properties held as investments		57,338	62,099	0	0	378	75,838	–40,493	–41,382	–1,219	–62	16,003	96,493	–5,704	–2,612
II.	Shares in associated companies		19,785	39,672	0	0	2,234	2,391	–7	–104,253	0	–105	22,012	–62,295	0	0
III.	Variable-yield securities		44,316	91,323	131,676	145,904	90,282	91,641	–110,410	–227,757	–9,440	–29,755	146,424	71,355	–29,680	–44,807
	1.	Available for sale	34,070	30,617	27,730	57,526	70,017	55,693	–53,029	–110,352	–5,961	–11,067	72,827	22,417	–29,680	–44,807
	2.	At fair value through profit and loss	10,246	60,706	103,946	88,378	20,266	35,948	–57,381	–117,405	–3,479	–18,688	73,597	48,938	0	0
IV.	Fixed interest securities		504,341	477,922	175,204	38,467	177,871	204,415	–96,908	–206,712	–30,736	–31,520	729,771	482,571	–8,283	–193,608
	1.	Held to maturity	22,431	25,170	0	0	0	1,257	0	0	0	0	22,431	26,427	0	0
	2.	Available for sale	464,482	438,533	154,207	3,337	176,153	200,954	–84,027	–189,649	–29,645	–29,767	681,170	423,407	–8,283	–193,608
	3.	At fair value through profit or loss	17,428	14,220	20,997	35,130	1,718	2,204	–12,882	–17,063	–1,091	–1,753	26,170	32,738	0	0
V.	Loans and other investments		152,744	175,724	3,344	10,976	14,799	19,826	–23,117	–13,669	–21,590	–10,388	126,181	182,469	–20,302	–8,711
	1.	Loans	102,853	137,536	557	1,043	14,799	19,826	–20,302	–8,711	–21,589	–10,388	76,318	139,305	–20,302	–8,711
	2.	Other investments	49,890	38,188	2,788	9,933	0	0	–2,815	–4,958	0	0	49,863	43,164	0	0
VI.	Derivative financial instruments (held for trading)		–12,766	1,128	63,267	57,262	48,680	146,763	–37,218	–84,509	–174,964	–102,267	–113,001	18,376	0	0
VII.	Expenditure for asset management, interest charges and other expenses		–55,073	–37,314	0	0	0	0	0	0	0	0	–55,073	–37,314	0	0
Total (fully consolidated values)			710,684	810,554	373,491	252,609	334,244	540,874	–308,154	–678,283	–237,949	–174,098	872,316	751,656	–63,969	–249,738

The updating of the value adjustment concerns both appreciation and depreciation of financial assets, excluding assets held for trading and financial assets at fair value through profit or loss. Interest income from impaired assets amounts to € 25,173,000 (2009: € 33,583,000). The net investment income of € 872,316,000 includes realised and unrealised profits and losses amounting to € 161,632,000, which includes currency profits of € 12,292,000. In addition, positive currency effects amounting to € 28,256,000 were recorded directly under equity. The effects are mainly the result of investments in USD and GBP.

The current income from properties held as financial investments includes rental income of € 86,526,000 (2009: € 83,649,000) and direct operational expenses of € 29,188,000 (2009: € 21,602,000).

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Of which securities, available for sale type of investment				Ordinary income		Write-ups and unrealised capital gains		Realised capital gains		Write-offs and unrealised capital losses		Realised capital losses		Group		of which value adjustment
				2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000	2010 € 000	2009 € 000
III.	Variable-yield securities
		1.	Available for sale	34,070	30,617	27,730	57,526	70,017	55,693	–53,029	–110,352	–5,961	–11,067	72,827	22,417	–29,680	–44,807
			Shares in affiliated companies	62	–1,127	4	0	1,279	2,503	–657	–154	–422	–226	267	997	0	0
			Shares	16,615	16,490	6,473	33	44,616	38,902	–31,835	–77,973	–5,922	–4,372	29,946	–26,921	–26,033	–65,542
			Equity funds	2,520	2,950	3,942	88	11,522	10,221	–438	–10,980	403	–3,337	17,948	–1,057	–259	–11,091
			Debenture bonds not capital-guaranteed	7,652	9,829	17,311	57,331	183	3,051	–19,855	–10,801	–20	–23	5,271	59,388	–3,145	51,574
			Other variable-yield securities	2,166	1,822	0	0	1,231	0	0	–3,400	0	–3,035	3,397	–4,613	0	–3,400
			Participating interests and other investments	5,055	653	0	74	11,185	1,015	–243	–7,044	0	–75	15,997	–5,377	–243	–16,350
IV.	Fixed interest securities
		2.	Available for sale