Munich Re Group Annual Report 2006 (PDF, 1.8

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Munich Re Group Annual Report 2006 Notes_Notes to the consolidated balance sheet – Assets (10) Other investments This item includes deposits with banks totalling €3,060m (2,479m). (11) Ceded share of technical provisions 174 Reinsurance Primary insurance Total Life and health Property-casualty Life and health Property-casualty All figures in €m * Unearned 31.12.2006 Prev. year 31.12.2006 Prev. year 31.12.2006 Prev. year 31.12.2006 Prev. year 31.12.2006 Prev. year premiums Provision for future policy 4 7 333 320 – – 87 48 424 375 benefits Provision for outstanding 466 1,470 – – 1,355 1,593 – – 1,821 3,063 claims Other technical 327 158 3,482 3,744 10 17 424 580 4,243 4,499 provisions 44 8 57 14 – 15 4 6 105 43 Total 841 1,643 3,872 4,078 1,365 1,625 515 634 6,593 7,980 * After elimination of intra-Group transactions across segments. Details of the ceded share of underwriting provisions are shown in Notes (19), (20), (21), (22) and (38). (12) Receivables All figures in €m 31.12.2006 Prev. year * Amounts receivable on primary insurance business 1,111 1,052 Accounts receivable on reinsurance business 3,896 4,133 Interest and rent 2,332 2,217 Tax 710 392 Other receivables 776 1,854 Total 8,825 9,648 * Adjusted owing to first-time application of IAS 19 (rev. 2004). The “other receivables” contain receivables of €243m (210m) resulting from contracts without significant risk transfer, which do not fall within the scope of IFRS 4. Reference is made to the risk report for information on the risks from defaults on receivables from underwriting business.
Munich Re Group Annual Report 2006 Notes_Notes to the consolidated balance sheet – Assets Contractual period to maturity Amortisation includes accrued interest as well as write-downs. The impairment losses comprise write-ups and write-downs stemming from changes in the assumptions underlying the calculations, which require a retrospective adjustment in the measurement. Carrying amounts All figures in €m 31.12.2006 Prev. year * Up to one year 8,350 9,361 Over one year and up to two years 75 59 Over two years and up to three years 30 7 Over three years and up to four years 317 178 Over four years and up to five years 3 2 Over five years and up to ten years 18 25 Over ten years 32 16 Total 8,825 9,648 * Adjusted owing to first-time application of IAS 19 (rev. 2004). (13) Deferred acquisition costs Reinsurance Primary insurance Total Life and health Property-casualty Life and health Property-casualty All figures in €m * 31.12.2006 Prev. year 31.12.2006 Prev. year 31.12.2006 Prev. year 31.12.2006 Prev. year 31.12.2006 Prev. year Gross 1,811 1,873 916 1,068 5,071 4,815 500 466 8,298 8,222 Ceded share 31 15 77 70 –13 5 13 8 108 98 Net 1,780 1,858 839 998 5,084 4,810 487 458 8,190 8,124 * After elimination of intra-Group transactions across segments. Development of gross deferred acquisition costs All figures in €m 2006 Prev. year Status at 31 Dec. previous year 8,222 8,450 Currency translation differences –110 158 Change in consolidated group/Other 59 –464 Newly deferred acquisition costs 1,926 1,122 Changes – Amortisation –1,861 –980 – Impairment losses 62 –64 Status at 31 Dec. financial year 8,298 8,222 175
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Munich Re Group Annual Report 2006
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The Munich Re Group Our operations
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Munich Re Group in 2006 Tireless an
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Notable events in 2006 / Letter to
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Munich Re Group / Parameters / Busi
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Page 128 and 129: Munich Re Group Annual Report 2006
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Quarterly figures Balance sheet 31.
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© 2007 Münchener Rückversicherun
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