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).
