Munich Re Group Annual Report 2006 (PDF, 1.8

Munich Re Group Annual Report 2006 Notes_Notes to the consolidated balance sheet – Equity and liabilities
Change in the reimbursements rights for defined benefit plans
All figures in €m 2006 Prev. year
Status at 31 Dec. previous year 68 59
Expected return 2 2
Actuarial gains/losses 2 2
Capital transfer 10 4
Payments –2 –1
Other 2 2
Status at 31 Dec. financial year 82 68
The reimbursement rights derive from reinsurances concluded to
cover the benefit obligations.
Funded status of the defined benefit plans
All figures in €m 2006 Prev. year *
Unfunded obligations
– Present value 1,144 1,113
– Past service cost not yet recognised –1 –
– Net balance sheet liability 1,143 1,113
Wholly/partly funded obligations
– Present value 1,114 913
– Fair value of plan assets –971 –726
– Past service cost not yet recognised – –2
– Other receivables 7 6
– Other 5 1
– Net balance sheet liability 155 192
Total net balance sheet liability 1,298 1,305
* Adjusted owing to first-time application of IAS 19 (rev. 2004).
Change in the provision for defined benefit plans
All figures in €m 2006 Prev. year *
Status at 31 Dec. previous year 1,305 1,200
Currency translation differences –28 17
Change in consolidated group –1 –100
Expenses 167 152
Payments –41 –40
Capital transfer to plan assets –177 –79
Transfer to other receivables 1 –27
Actuarial gains/losses recognised in equity 33 175
Other 39 7
Status at 31 Dec. financial year 1,298 1,305
* Adjusted owing to first-time application of IAS 19 (rev. 2004).
The other changes mainly result from reclassifications of other balance
sheet items.
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