4. Net investment income

Classified by business line

In € thousand

Property and casualty insurance

Health insurance

Life insurance

Total

1–12/2018

1–12/2017
adjusted

1–12/2018

1–12/2017

1–12/2018

1–12/2017

1–12/2018

1–12/2017
adjusted

Investment property

9,117

–2,910

5,783

15,647

32,475

40,932

47,375

53,670

Financial assets accounted for using the equity method

58,565

8,396

19,553

16,133

31,071

25,662

109,189

50,190

Variable-income securities

16,450

22,196

9,022

17,788

19,284

13,062

44,756

53,046

Available for sale

14,807

22,196

8,902

16,597

19,194

23,048

42,903

61,841

At fair value through profit or loss

1,642

0

120

1,191

90

–9,986

1,853

–8,795

Fixed-income securities

77,511

82,293

83,104

54,203

253,456

229,231

414,071

365,727

Available for sale

81,459

82,595

85,447

55,252

252,528

223,959

419,434

361,806

At fair value through profit or loss

–3,948

–302

–2,343

–1,049

928

5,272

–5,363

3,921

Loans and other investments

3,667

3,442

2,092

1,421

34,174

35,820

39,933

40,683

Loans

450

2,210

1,754

2,695

10,142

7,735

12,345

12,640

Other investments

3,217

1,232

339

–1,274

24,032

28,085

27,588

28,043

Derivative financial instruments

–16,586

14,576

–10,485

20,647

–918

4,147

–27,989

39,370

Investment administration expenses, interest paid and other investment expenses

–20,579

–8,245

–9,528

–9,472

–16,037

–12,834

–46,144

–30,551

Total

128,145

119,747

99,541

116,368

353,505

336,019

581,191

572,134

 

 

 

 

 

 

 

 

 

Of which:

 

 

 

 

 

 

 

 

Current income/expenses

107,340

105,382

83,623

75,268

336,692

340,853

527,656

521,502

Gains/losses from disposals and changes in value

20,805

14,366

15,917

41,100

16,813

–4,834

53,535

50,632

Impairments

–13,062

–13,691

–1,280

–2,172

–15,650

–36,130

–29,992

–51,993

Classified by type of income

In € thousand

Current income/expenses

Gains/losses from disposals and changes in value

Total

of which impairment

1–12/2018

1–12/2017
adjusted

1–12/2018

1–12/2017
adjusted

1–12/2018

1–12/2017
adjusted

1–12/2018

1–12/2017

1)

Income from investments under investment contracts is not stated due to its transitory character.

Financial assets at fair value through profit or loss

2,124

6,517

–33,624

27,979

–31,500

34,496

0

0

Variable-income securities (within the framework of fair value option)

763

1,945

1,090

–10,740

1,853

–8,795

0

0

Fixed-income securities (within the framework of fair value option)

1,510

4,002

–6,873

–81

–5,363

3,921

0

0

Derivative financial instruments

–149

570

–27,841

38,800

–27,989

39,370

0

0

Investments under investment contracts1)

0

0

0

0

0

0

0

0

Available-for-sale financial assets

392,045

383,100

70,292

40,547

462,337

423,647

–12,980

–38,964

Variable-income securities

36,555

25,414

6,348

36,427

42,903

61,841

–10,175

–1,843

Fixed-income securities

355,490

357,686

63,944

4,120

419,434

361,806

–2,805

–37,121

Loans and receivables

39,116

42,006

817

–1,323

39,933

40,683

–89

0

Fixed-income securities

7,921

8,362

1,272

800

9,193

9,162

0

0

Loans and other investments

31,195

33,645

–455

–2,123

30,740

31,521

–89

0

Investment property

78,781

70,241

–31,407

–16,571

47,375

53,670

–16,923

–13,029

Financial assets accounted for using the equity method

61,733

50,190

47,456

0

109,189

50,190

0

0

 

 

 

 

 

 

 

 

 

Investment administration expenses, interest paid and other investment expenses

–46,144

–30,551

0

0

–46,144

–30,551

0

0

Total

527,656

521,502

53,535

50,632

581,191

572,134

–29,992

–51,993

Details of net investment income

In € thousand

1–12/2018

1–12/2017

Current income/expenses from investment property

 

 

Rent revenue

110,491

109,449

Operational expenses

–31,710

–39,208

Gains/losses from disposals and changes in value

 

 

Currency gains/losses

–16,603

–62,262

of which gains/losses from derivative financial instruments as part of US dollar underlying

8,620

–68,199

of which gains/losses from derivative financial instruments as part of hedge transactions in US dollar

–11,965

28,943

Positive currency effects from investments amounting to €9,558 thousand (2017: negative currency effects amounting to €–22,936 thousand) were recognised directly in equity.

Net profit/(loss) by measurement category

In € thousand

1–12/2018

1–12/2017
adjusted

1)

The presentation does not include the share of other comprehensive income allocated to the discontinued operations. This results in differences between these amounts and the amount shown in the consolidated statement of comprehensive income.

Financial assets at fair value through profit or loss

 

 

Recognised in profit/(loss) for the period

–31,500

34,496

Available-for-sale financial assets

 

 

Recognised in profit/(loss) for the period

462,337

423,647

of which reclassified from equity to consolidated income statement

–99,926

–130,195

Recognised in other comprehensive income1)

–445,017

–148,323

Net income

17,320

275,324

Loans and receivables

 

 

Recognised in profit/(loss) for the period

39,933

40,683

Financial liabilities measured at amortised cost

 

 

Recognised in profit/(loss) for the period

–52,800

–53,017