Munich Re Group Annual Report 2006 (PDF, 1.8

Quarterly figures
Balance sheet
31.12.2006 30.9.2006 30.6.2006 31.3.2006
Investments €m 176,872 178,167 172,472 176,795
Equity €m 26,429 25,651 23,356 25,059
Net technical provisions €m 153,778 155,287 152,551 153,647
Balance sheet total €m 215,874 217,684 212,402 216,614
Shares
Share price € 130.42 124.71 106.81 117.00
Munich Re’s market capitalisation €bn 29.9 28.6 24.5 26.9
Other
Combined ratio property-casualty reinsurance % 92.6 91.2 91.6 91.6
Number of staff 37,210 36,788 36,746 36,683
€m Total Q4 2006 Q3 2006 Q2 2006 Q1 2006
Gross premiums written 37,436 9,356 9,017 9,027 10,036
1. Earned premiums
– Gross 37,613 9,760 9,250 9,280 9,323
– Ceded 1,899 547 438 469 445
– Net 35,714 9,213 8,812 8,811 8,878
2. Investment result
– Investment income 12,382 2,792 2,887 3,674 3,029
– Investment expenses 3,506 909 651 1,027 919
– Total 8,876 1,883 2,236 2,647 2,110
3. Other income 1,784 531 337 485 431
Total income (1–3) 46,374 11,627 11,385 11,943 11,419
4. Expenses for claims and benefits
– Gross 30,798 7,760 7,714 7,609 7,715
– Ceded 1,131 276 276 246 333
– Net 29,667 7,484 7,438 7,363 7,382
5. Operating expenses
– Gross 9,333 2,611 2,261 2,240 2,221
– Ceded 499 172 84 115 128
– Net 8,834 2,439 2,177 2,125 2,093
6. Other expenses 2,375 844 454 604 473
Total expenses (4–6) 40,876 10,767 10,069 10,092 9,948
7. Result before impairment losses of goodwill 5,498 860 1,316 1,851 1,471
8. Impairment losses of goodwill 4 4 – – –
9. Operating result 5,494 856 1,316 1,851 1,471
10. Finance costs 310 72 74 78 86
11. Taxes on income 1,648 109 510 623 406
12. Consolidated result 3,536 675 732 1,150 979
Thereof:
– Attributable to Munich Re equity holders 3,440 641 715 1,125 959
– Attributable to minority interests 96 34 17 25 20
Total Q4 2006 Q3 2006 Q2 2006 Q1 2006
Earnings per share € 15.12 2.82 3.15 4.94 4.20