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> Notes_Notes to the consolidated balance sheet – Assets<br />
The following table shows the fair values and the related notional<br />
principal amounts of all our open positions, broken down according<br />
to risk types. Positive and negative fair values have been netted. At<br />
31 December <strong>2006</strong>, the open positions amounted to €272m (908m),<br />
i.e. less than 1% (1%) of the balance sheet total.<br />
Open positions<br />
Periods to maturity in years<br />
All figures in €m < 1 1–2 2–3 3–4 4–5 > 5 31.12.<strong>2006</strong> Prev. year<br />
Interest-rate risks<br />
Traded on the stock exchange<br />
Fair values –1 – – – – – –1 –1<br />
Notional principal amounts 463 – – – – – 463 130<br />
172<br />
Over-the-counter<br />
Fair values 2 12 24 28 34 54 154 757<br />
Notional principal amounts 2,528 2,109 1,942 1,827 1,828 8,862 19,096 18,474<br />
Total interest-rate risks<br />
Fair values 1 12 24 28 34 54 153 756<br />
Notional principal amounts 2,991 2,109 1,942 1,827 1,828 8,862 19,559 18,604<br />
Currency risks<br />
Over-the-counter<br />
Fair values 8 – – – – 2 10 8<br />
Notional principal amounts 5,043 86 – – – 244 5,373 3,846<br />
Equity and index risks<br />
Traded on the stock exchange<br />
Fair values 5 32 8 – – – 45 109<br />
Notional principal amounts 1,067 676 113 – – – 1,856 2,155<br />
Over-the-counter<br />
Fair values 6 – – 24 – 32 62 29<br />
Notional principal amounts 1,610 – – 100 – 98 1,808 1,826<br />
Total equity and index risks<br />
Fair values 11 32 8 24 – 32 107 138<br />
Notional principal amounts 2,677 676 113 100 – 98 3,664 3,981<br />
Credit risks<br />
Over-the-counter<br />
Fair values – 1 – – – –1 – –<br />
Notional principal amounts 4 12 – 12 – 235 263 61<br />
Weather risks<br />
Over-the-counter<br />
Fair values – – 1 – – – 1 –<br />
Notional principal amounts 58 15 110 43 – – 226 110<br />
Other risks<br />
Traded on the stock exchange<br />
Fair values – – – – – – – 5<br />
Notional principal amounts – – – – – – – 70<br />
Over-the-counter<br />
Fair values – – 1 – – – 1 1<br />
Notional principal amounts – – 8 – – – 8 94<br />
Total other risks<br />
Fair values – – 1 – – – 1 6<br />
Notional principal amounts – – 8 – – – 8 164<br />
Total of all risks<br />
Fair values 20 45 34 52 34 87 272 908<br />
Notional principal amounts 10,773 2,898 2,173 1,982 1,828 9,439 29,093 26,766
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