Consolidated Statement of Comprehensive Income
from 1 January to 31 December 2014

In the 2014 financial year the presentation of the income statement was expanded to include the key management indicator “technical result” as a subtotal.

The items other income and other expenses were split and recorded as other technical and other non-technical income and/or expenses.

The portion of the technical interest income that is financed from capital gains was also reclassified as technical income, since the corresponding expense is also included in the insurance benefits. The technical interest is the amount that we earned in insurance business from investing the assets that cover technical provisions.

The item Amortisation of goodwill and impairment losses has also been reclassified under operating profit/(loss).

The values as at 31 December 2013 and 2012 have been adjusted in accordance with IAS 8.42. Equity as at 31 December 2013 decreased by EUR 4,788 thousand, whereas equity as at 31December 2012 increased by EUR 4,258 thousand. The adjusted profit/(loss) for 2013 increased by EUR 1,081 thousand. The adjustments related to:

• Reclassification of deferred acquisition costs previously calculated in the insurance provision, the provision for pending losses and in the premiums brought forward to the asset side of the statement of financial position, and presentation as deferred acquisition costs,
• Change in the determination and amortisation of deferred acquisition costs,
• Taking into account deferred profit sharing in the Italian classic life insurance business for cumulative value increases of investments shown in the revaluation reserve.
• Netting of deferred tax assets and liabilities on account of duration matching and identical financial management.
• Separate presentation of investments under investment contracts, which had previously been reported under investments held for unit-linked and index-linked life insurance investments. The liabilities resulting from this have been reclassified from technical provisions for unit-linked and index-linked life insurance to other liabilities.