Munich Re Group Annual Report 2006 (PDF, 1.8

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Munich Re Group Annual Report 2006 Notes_Notes to the consolidated income statement (29) Investment result Investment result by type of investment and segment The result for land and buildings includes rental income of €443m (514m). The expenses for the management of investments include running costs and expenses for repair and maintenance of property totalling €72m (78m). We earned interest income of €1,180m (1,081m) on loans, €17m (29m) on other securities held to maturity, and €5,183m (4,929m) on securities available for sale. 194 Reinsurance Primary insurance Asset management Total Life and health Property-casualty Life and health Property-casualty Prev. Prev. Prev. Prev. Prev. Prev. All figures in €m * Land and buildings, including 2006 year 2006 year 2006 year 2006 year 2006 year 2006 year buildings on third-party land Investments in affiliated 17 6 80 29 248 67 15 – – 1 360 103 companies –2 39 5 141 42 –1 18 –38 3 –1 66 140 Investments in associates 6 175 33 657 17 76 –16 221 4 2 44 1,131 Loans Other securities held 3 4 6 12 1,099 1,101 55 47 – 1 1,163 1,165 to maturity Other securities available for sale – – – – 16 28 1 1 – – 17 29 – Fixed interest 668 735 1,215 1,171 1,989 2,673 178 219 2 1 4,052 4,799 – Non-fixed-interest Other securities held for trading 330 319 1,430 1,190 1,570 1,536 241 245 –1 –1 3,570 3,289 – Fixed-interest 1 – 27 14 1 5 13 5 – – 42 24 – Non-fixed-interest – – – – 8 1 1 – – – 9 1 – Derivatives Deposits retained on assumed and ceded reinsurance, and –37 3 –153 16 –433 –133 2 –2 – – –621 –116 other investments Investments for the benefit of life insurance policyholders 479 527 134 87 –97 –81 3 10 34 32 553 575 who bear the investment risk Expenses for the management – – – – 100 170 – – – – 100 170 of investments, other expenses 33 37 146 145 271 283 29 27 – – 479 492 Total 1,432 1,771 2,631 3,172 4,289 5,159 482 681 42 35 8,876 10,818 * After elimination of intra-Group transactions across segments.
Munich Re Group Annual Report 2006 Notes_Notes to the consolidated income statement Investment income by segment (30) Other income In addition to foreign currency exchange gains of €901m (696m), the other income mainly includes income from services rendered of €297m (266m), interest and similar income of €152m (157m), income from the release/reduction of miscellaneous provisions and adjustments of values for receivables of €82m (69m), and income from owner-occupied property that is sometimes leased out amounting to €137m (107m). Reinsurance Primary insurance Asset management Total Life and health Property-casualty Life and health Property-casualty Prev. Prev. Prev. Prev. Prev. Prev. All figures in €m * 2006 year 2006 year 2006 year 2006 year 2006 year 2006 year Regular income 1,283 1,331 1,926 1,633 4,198 4,282 381 353 46 50 7,834 7,649 Income from write-ups Gains on the disposal of 63 43 272 153 233 203 8 3 – – 576 402 investments 357 581 1,560 2,141 1,674 2,006 255 448 3 6 3,849 5,182 Other income – – – – 119 180 2 1 2 1 123 182 Total 1,703 1,955 3,758 3,927 6,224 6,671 646 805 51 57 12,382 13,415 * After elimination of intra-Group transactions across segments. Investment expenses by segment Write-downs of investments Reinsurance Primary insurance Asset management Total Life and health Property-casualty Life and health Property-casualty Prev. Prev. Prev. Prev. Prev. Prev. All figures in €m * 2006 year 2006 year 2006 year 2006 year 2006 year 2006 year Write-downs of investments Losses on the disposal 88 62 394 245 925 804 32 38 2 1 1,441 1,150 of investments Management expenses, interest charges and other 131 58 550 264 558 279 51 56 – 14 1,290 671 expenses 52 64 183 246 452 429 81 30 7 7 775 776 Total 271 184 1,127 755 1,935 1,512 164 124 9 22 3,506 2,597 * After elimination of intra-Group transactions across segments. All figures in €m 2006 Prev. year Land and buildings, including buildings on third-party land 162 446 Investments in affiliated companies 13 5 Investments in associates 2 9 Loans 38 11 Other securities available for sale 154 188 Other securities held for trading 1,072 491 Total 1,441 1,150 195
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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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Consolidated financial statements a
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Page 222 and 223: Glossary / Index of key terms / Imp
Page 236 and 237: Quarterly figures Balance sheet 31.
Page 238: © 2007 Münchener Rückversicherun
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