Consolidated Income Statement
from 1 January to 31 December 2012

1.

Premiums written (retained)

31

a)

Gross

4,864,151

4,900,239

b)

Reinsurers’ share

–213,504

–196,908

4,650,647

4,703,331

a)

Gross

–18,435

–34,654

b)

Reinsurers’ share

–8,302

–3,715

–26,738

–38,369

3.

Premiums earned (retained)

32

a)

Gross

4,845,715

4,865,584

b)

Reinsurers’ share

–221,806

–200,623

4,623,909

4,664,962

4.

Income from fees and commissions

33

Reinsurance commission and profit shares from reinsurance business ceded

35,731

29,271

5.

Net investment income

34

791,546

201,818

of which profit from associated companies

19,053

1,934

6.

Other income

35

46,562

76,774

Total income

5,497,748

4,972,824

7.

Insurance benefits

36

a)

Gross

–3,873,806

–3,762,992

b)

Reinsurers’ share

115,261

105,091

–3,758,545

–3,657,901

8.

Operating expenses

37

a)

Acquisition costs

–955,802

–914,339

b)

Other operating expenses

–399,204

–527,715

–1,355,006

–1,442,054

9.

Other expenses

38

–122,954

–139,037

10.

Amortisation of goodwill

–24,937

–24,160

Total expenses

–5,261,442

–5,263,151

11.

Operating profit

236,306

–290,327

12.

Financing costs

–30,955

–31,975

13.

Profit on ordinary activities

205,351

–322,302

14.

Income taxes

39

–45,423

77,720

15.

Result from discontinued operations (after taxes)

9,873

733

16.

Net profit/loss

169,801

–243,849

of which consolidated profit/loss

130,225

–245,614

of which minority interests

39,575

1,765

Earnings per share¹⁾ (in €)

16

0.77

–1.73

Average number of shares in circulation

169,599,813

142,165,567