Munich Re Group Annual Report 2006 (PDF, 1.8

Munich Re Group Annual Report 2006 Notes_Notes to the consolidated balance sheet – Assets
(2) Other intangible assets
Software Purchased
insurance
Other 2006 Prev. year
All figures in €m portfolios
Gross carrying amount at 31 Dec. previous year
Accumulated amortisation and accumulated
843 1,097 298 2,238 2,342
impairment losses at 31 Dec. previous year 450 520 232 1,202 1,099
Carrying amount at 31 Dec. previous year 393 577 66 1,036 1,243
Currency translation differences 1 –10 2 –7 14
Change in consolidated group 10 – 86 96 –76
Additions 56 17 8 81 117
Disposals 1 – 5 6 11
Adjustments pursuant to IAS 8 – – – – –75
Impairment losses reversed
Depreciation and impairment losses
– – – – –
– Depreciation 106 20 17 143 170
– Impairment losses – 2 – 2 6
Carrying amount at 31 Dec. financial year
Accumulated amortisation and accumulated
353 562 140 1,055 1,036
impairment losses at 31 Dec. financial year 550 537 243 1,330 1,202
Gross carrying amount at 31 Dec. financial year 903 1,099 383 2,385 2,238
The figures shown under acquired insurance portfolios include
amortised carrying amounts of €392m resulting from the assumption
of CNA Financial Corporation’s life reinsurance business and the
acquisition of additional shares in the ERGO Insurance Group. The
additions for software concern €17m for the Gloria project. The
impairment losses are distributed between the different Group segments
as follows: In reinsurance, – (€1m) is apportionable to property-casualty;
in primary insurance, €2m (3m) is apportionable to life
(3) Land and buildings, including buildings on third-party land
and health and – (€2m) to property-casualty. The remaining other
intangible assets include land rights amounting to €2m (1m). Assets
pledged as security and other restrictions on title amount to €2m
(1m). Commitments to acquire other intangible assets total €2m
(2m). Costs of €103m (151m) for research and development incurred
in connection with software projects were not capitalised but recognised
as expenses.
All figures in €m 2006 Prev. year
Gross carrying amount at 31 Dec. previous year 7,018 10,506
Accumulated depreciation and accumulated impairment losses at 31 Dec. previous year 1,220 1,460
Carrying amount at 31 Dec. previous year 5,798 9,046
Currency translation differences –7 7
Change in consolidated group 3 –668
Additions 96 104
Disposals 983 108
Impairment losses reversed 30 2
Depreciation and impairment losses
– Depreciation 117 127
– Impairment losses 45 319
Reclassification –55 –2,139
Carrying amount at 31 Dec. financial year 4,720 5,798
Accumulated depreciation and accumulated impairment losses at 31 Dec. financial year 891 1,220
Gross carrying amount at 31 Dec. financial year 5,611 7,018
167