Munich Re Group Annual Report 2006 (PDF, 1.8
Munich Re Group Annual Report 2006 (PDF, 1.8
Munich Re Group Annual Report 2006 (PDF, 1.8
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<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> <strong>Annual</strong> <strong>Re</strong>port <strong>2006</strong><br />
Segment reporting<br />
148<br />
Consolidated financial statements_Segment reporting<br />
Segment assets <strong>Re</strong>insurance<br />
Life and health Property-casualty<br />
31.12.<strong>2006</strong> Prev. year * 31.12.<strong>2006</strong> Prev. year *<br />
€m €m €m €m<br />
A. Intangible assets 275 267 1,229 1,374<br />
B. Investments<br />
I. Land and buildings, including buildings on third-party land 585 663 766 759<br />
Thereof:<br />
– Investment property held for sale 102 – 128 –<br />
II. Investments in affiliated companies and associates 2,553 2,910 3,281 3,238<br />
III. Loans 181 310 215 323<br />
IV. Other securities<br />
1. Held to maturity – – – –<br />
2. Available for sale 22,841 23,361 36,430 34,399<br />
3. Held for trading 117 146 595 700<br />
22,958 23,507 37,025 35,099<br />
V. Deposits retained on assumed reinsurance 7,132 9,089 9,284 10,205<br />
VI. Other investments 301 321 702 539<br />
33,710 36,800 51,273 50,163<br />
C. Investments for the benefit of life insurance policyholders<br />
who bear the investment risk – – – –<br />
D. Ceded share of technical provisions 844 1,647 3,871 4,077<br />
E. Other segment assets 6,365 6,177 8,421 10,426<br />
Thereof:<br />
– Other segment assets relating to disposal groups 4 – 8 –<br />
Total segment assets 41,194 44,891 64,794 66,040<br />
* Adjusted owing to first-time application of IAS 19 (rev. 2004).<br />
The <strong>Munich</strong> <strong>Re</strong> <strong>Group</strong>’s segment reporting is based on IAS 14 and<br />
the principles of German Accounting Standard No. 3 (DRS 3) issued<br />
by the German Standards Board (DSR). This has been supplemented<br />
by the requirements of DRS 3-20, which applies specifically to insurance<br />
companies.<br />
In accordance with the recommendations of the DSR, we have<br />
made the primary segmentation between the fields of reinsurance,<br />
primary insurance (each broken down into life and health and property-casualty)<br />
and asset management.<br />
The individual fields of business are shown after consolidation of<br />
internal transactions within the individual field but before consolidation<br />
across segments. This is shown separately in the “consolidation”<br />
column.<br />
Goodwill has been allocated to the segment of the respective<br />
subsidiary.
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