Quarterly Report 1/2009 - Munich Re Group

Consolidated balance sheet
Equity and liabilities 31.12.2008 Change
A. Equity
€m €m €m €m %
I. Issued capital and capital reserve 7,388 7,388 – –
II. Retained earnings 12,316 10,888 1,428 13.1
III. Other reserves 1,272 1,187 85 7.2
IV. Consolidated result attributable to Munich Re equity holders 415 1,503 –1,088 –72.4
V. Minority interests 272 290 –18 –6.2
21,663 21,256 407 1.9
B. Subordinated liabilities 4,855 4,979 –124 –2.5
C. Gross technical provisions
I. Unearned premiums 7,803 6,421 1,382 21.5
II. Provision for future policy benefits 99,302 98,266¹ 1,036 1.1
III. Provision for outstanding claims 47,288 45,503¹ 1,785 3.9
IV. Other technical provisions 8,848 9,292 –444 –4.8
Thereof:
Provision for deferred premium refunds relating to
disposal groups 7 – 7 –
163,241 159,482 3,759 2.4
D. Gross technical provisions for life insurance policies
where the investment risk is borne by the policyholders 3,069 2,940 129 4.4
E. Other accrued liabilities 3,149 2,982 167 5.6
F. Liabilities
I. Bonds and notes issued 317 302 15 5.0
II. Deposits retained on ceded business 2,184 2,086 98 4.7
III. Current tax liabilities 2,609 2,791 –182 –6.5
IV. Other liabilities 10,786 9,771 1,015 10.4
Thereof:
Amounts due to banks relating to disposal groups 19 19 – –
15,896 14,950 946 6.3
G. Deferred tax liabilities 8,826 8,828 –2 0.0
Total equity and liabilities 220,699 215,417 5,282 2.5
1 Adjusted owing to reallocation within the technical provisions; see page 44.
Munich Re Group Quarterly Report 1/2009
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