Munich Re Group Annual Report 2006 (PDF, 1.8

Munich Re Group Annual Report 2006 Consolidated financial statements_Consolidated balance sheet
Equity and liabilities Notes Prev. year * Change
A. Equity (17)
€m €m €m €m %
I. Issued capital and capital reserve 7,388 7,388 – –
II. Retained earnings 9,416 7,777 1,639 21.1
III. Other reserves 5,702 6,100 –398 –6.5
IV. Consolidated result attributable to Munich Re equity holders 3,440 2,679 761 28.4
V. Minority interests 483 453 30 6.6
26,429 24,397 2,032 8.3
B. Subordinated liabilities (18) 3,419 3,408 11 0.3
C. Gross technical provisions
I. Unearned premiums (19) 5,870 6,153 –283 –4.6
II. Provision for future policy benefits (20) 94,660 94,445 215 0.2
III. Provision for outstanding claims (21) 47,076 49,380 –2,304 –4.7
IV. Other technical provisions (22) 10,835 10,534 301 2.9
Thereof:
– Provision for deferred premium refunds relating
to disposal groups (16) –169 – –169 –
158,441 160,512 –2,071 –1.3
D. Gross technical provisions for life insurance policies
where the investment risk is borne by the policyholders (23) 1,930 1,516 414 27.3
E. Other accrued liabilities (24) 4,865 4,926 –61 –1.2
F. Liabilities
I. Bonds and notes issued (25) 378 1,097 –719 –65.5
II. Deposits retained on ceded business (26) 2,241 3,392 –1,151 –33.9
III. Other liabilities (27) 10,015 12,288 –2,273 –18.5
Thereof:
– Amounts due to banks relating to disposal groups (16) 231 – 231 –
12,634 16,777 –4,143 –24.7
G. Deferred tax liabilities (14) 8,156 7,201 955 13.3
Thereof:
– Deferred tax liabilities relating to disposal groups (16) 65 – 65 –
Total equity and liabilities 215,874 218,737 –2,863 –1.3
* Adjusted owing to first-time application of IAS 19 (rev. 2004).
143