Group functions and consolidation
In € million |
2022 |
2021 |
2020 |
|---|---|---|---|
Operating expenses (net) |
–55.8 |
–67.9 |
–80.0 |
Net investment income |
398.0 |
606.8 |
96.2 |
Earnings before taxes |
270.2 |
377.9 |
–48.5 |
In the Group functions segment, operating expenses dropped by 17.9 per cent to €55.8 million (2021: €67.9 million).
Net investment income fell to €398.0 million (2021: €606.8 million).
Earnings before taxes decreased to €270.2 million in the 2022 financial year (2021: €377.9 million).
In € million |
2022 |
2021 |
2020 |
|---|---|---|---|
Net investment income |
–282.4 |
–631.9 |
135.4 |
Earnings before taxes |
–199.4 |
–564.1 |
193.4 |
Net investment income in the consolidation segment in 2022 amounted to €–282.4 million (2021: €–631.9 million).
Earnings before taxes amounted to €–199.4 million (2021: €–564.1 million).
Net
The part of risk which is assumed but that the insurer/reinsurer does not cede as reinsurance.
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Operating expenses
This item includes acquisition expenses as well as portfolio management expenses and the expenses for implementing reinsurance. The operating expenses remain for the company’s own account following deduction of the commissions and profit participation received from the reinsurance business ceded.
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