8. Investment property

Acquisition costs

In € thousand

Total

At 1 January 2015

2,109,251

Currency translation

–10,513

Change in basis of consolidation

6,984

Additions

21,030

Disposals

–111,671

Reclassifications

5,197

At 31 December 2015

2,020,279

At 1 January 2016

2,020,279

Currency translation

–1,926

Change in basis of consolidation

–166

Additions

15,702

Disposals

–15,262

Reclassifications

–1,422

Reclassifications held for sale

–2,432

At 31 December 2016

2,014,772

Accumulated amortisation and impairment losses

In € thousand

Total

At 1 January 2015

–604,769

Currency translation

4,036

Additions from amortisation

–57,590

Additions from impairment

–9,038

Disposals

40,911

Reclassifications

–1,108

Reversal of impairment

–132

At 31 December 2015

–627,689

At 1 January 2016

–627,689

Currency translation

842

Change in basis of consolidation

128

Additions from amortisation

–43,687

Additions from impairment

–144

Disposals

6,379

Reclassifications

–1,683

Reclassifications held for sale

1,078

At 31 December 2016

–664,776

Carrying amounts

In € thousand

Total

At 1 January 2015

1,504,483

At 31 December 2015

1,392,590

At 31 December 2016

1,349,996

The fair values of the investment property are derived from expert reports.

Fair values

In € thousand

Property and casualty insurance

Health insurance

Life insurance

Total

At 31 December 2015

383,185

511,614

1,290,594

2,185,392

At 31 December 2016

471,847

533,945

1,242,487

2,248,279

The increase in the fair values of investment properties primarily affected properties in Austria. Reference is made to the statements in the section “Use of discretionary decisions and estimates” for a description of the measurement procedures applied.