35. Net investment income


Classified by business line

Property and casualty insurance

Health insurance

Life insurance

Group

In € thousand

1-12/2015

1-12/2014

1-12/2015

1-12/2014

1-12/2015

1-12/2014

1-12/2015

1-12/2014

Investment property

1,802

15,440

32,213

7,933

76,941

95,198

110,956

118,571

Financial assets accounted for using the equity method

3,171

435

12,439

11,715

7,596

11,434

23,205

23,583

Variable-income securities

13,543

16,880

6,280

5,769

31,590

17,856

51,414

40,505

Available for sale

13,221

16,352

5,863

5,229

28,940

11,228

48,024

32,809

At fair value through profit or loss

322

528

418

540

2,651

6,628

3,390

7,696

Fixed-income securities

110,609

111,341

101,237

113,181

459,887

540,680

671,733

765,202

Available for sale

110,488

111,680

100,947

112,651

449,221

558,091

660,656

782,422

At fair value through profit or loss

122

–339

290

530

10,666

–17,412

11,077

–17,221

Loans and other investments

7,687

13,338

7,534

10,404

52,465

72,011

67,686

95,753

Loans

433

1,501

5,931

3,684

17,474

18,825

23,838

24,009

Other investments

7,255

11,838

1,603

6,721

34,990

53,186

43,848

71,745

IV. Derivative financial instruments (trading portfolio)

245

–6,674

–9,425

–19,388

–42,883

–71,190

–52,062

–97,252

Investment administration expenses, interest paid and other investment expenses

–11,506

–13,187

–7,486

–8,909

–22,794

–36,114

–41,786

–58,210

Total

125,552

137,573

142,791

120,704

562,802

629,874

831,145

888,151

Income from available-for-sale fixed-income securities includes gains of 32,833 thousand and income from fixed income securities at fair value through profit or loss includes losses of 1,068 thousand from Level 3 valuations (hierarchy for instruments recognised at fair value in the statement of financial position).

The adjustment of valuation allowances relates to both the reversal of impairment losses as well as the impairment of financial assets, excluding assets held for trading and financial assets at fair value through profit or loss. The interest income from impaired portfolio items amounts to 9,900 thousand (2014: 19,148 thousand). The net investment income of 831,145 thousand includes realised and unrealised gains and losses amounting to 165,566 thousand, which include currency gains of 44,715 thousand. These currency gains are essentially the result of investments in US dollars. The currency gains in the underlying US dollar securities amounted to around € 106,545 thousand, and these were accompanied by expenditures from derivative financial instruments within the scope of hedging transactions amounting to € 66,083 thousand. In addition, currency effects amounting to 4,216 thousand were recognised directly in equity.

Income from investment property includes rent revenues in the amount of € 112,908 thousand (2014: € 112,048 thousand) and direct operational expenses in the amount of € 33,036 thousand (2014: € 34,591 thousand).

© UNIQA Group 2016