Quarterly Report 3/2008 (PDF, 308 KB) - Munich Re

1 After elimination of intra-Group transactions across segments.
Investment result by type of investment and segment
1 After elimination of intra-Group transactions across segments.
Selected notes to the consolidated financial statements
Investment result by type of investment and segment
Reinsurance Primary insurance Asset
management
Total
Life and Property- Life and Propertyhealth
casualty health casualty
€m1 Q1–3 Q1–3 Q1–3 Q1–3 Q1–3 Q1–3 Q1–3 Q1–3 Q1–3 Q1–3 Q1–3 Q1–3
2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007
Land and buildings, including
buildings on third-party land
Investments in
3 55 17 227 128 435 5 27 3 3 156 747
affi liated companies –2 –2 7 –10 –6 5 1 –11 –8 1 –8 –17
Investments in associates 2 3 15 18 –6 241 34 –4 24 12 69 270
Loans 3 3 10 8 1,072 961 59 44 – – 1,144 1,016
Other securities held to maturity
Other securities available for sale
– – 1 – 6 9 – – – – 7 9
Fixed-interest 537 477 1,033 843 1,395 1,223 173 135 2 4 3,140 2,682
Non-fi xed-interest
Other securities held for trading
–305 333 –1,123 1,383 –1,137 1,318 4 169 – – –2,561 3,203
Fixed-interest 1 – 22 11 –1 –1 11 7 – – 33 17
Non-fi xed-interest – – – – – – – 1 – – – 1
Derivatives
Deposits retained
on assumed reinsurance,
362 –53 1,331 –237 790 –80 46 – – – 2,529 –370
and other investments
Investments for the benefi t
of life insurance policyholders
130 246 33 19 –9 –21 26 12 10 48 190 304
who bear the investment risk
Expenses for the management
– – – – –356 51 – – – – –356 51
of investments, other expenses 43 22 194 93 149 146 20 16 – – 406 277
Total 688 1,040 1,152 2,169 1,727 3,995 339 364 31 68 3,937 7,636
Reinsurance Primary insurance Asset Total
management
Life and Property- Life and Propertyhealth
casualty health casualty
€m 1 Q3 2008 Q3 2007 Q3 2008 Q3 2007 Q3 2008 Q3 2007 Q3 2008 Q3 2007 Q3 2008 Q3 2007 Q3 2008 Q3 2007
Land and buildings, including
buildings on third-party land
Investments in
3 4 14 16 37 42 1 1 1 1 56 64
affi liated companies –2 – –12 –1 –2 –4 –1 – –3 1 –20 –4
Investments in associates –3 2 3 7 –6 209 21 –7 1 –1 16 210
Loans 1 1 5 3 294 338 22 15 – – 322 357
Other securities held to maturity
Other securities available for sale
– – 1 – 1 3 – – – – 2 3
Fixed-interest 183 153 263 256 401 314 53 43 1 2 901 768
Non-fi xed-interest
Other securities held for trading
–78 89 –585 382 –497 187 –59 16 – – –1,219 674
Fixed-interest 1 – 16 8 –2 –1 4 –2 – – 19 5
Non-fi xed-interest – – – – – – – 1 – – – 1
Derivatives
Deposits retained
on assumed reinsurance,
12 –19 469 –98 382 78 28 1 – – 891 –38
and other investments
Investments for the benefi t
of life insurance policyholders
41 65 5 –2 –9 –13 6 9 3 18 46 77
who bear the investment risk
Expenses for the management
– – – – –136 –25 – – – – –136 –25
of investments, other expenses 19 8 130 36 48 51 7 7 – – 204 102
Total 139 287 49 535 415 1,077 68 70 3 21 674 1,990
Munich Re Group Quarterly Report 3/2008
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