Annual Report 1997/1998 - Munich Re
Annual Report 1997/1998 - Munich Re
Annual Report 1997/1998 - Munich Re
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<strong>Munich</strong> <strong>Re</strong> Group<br />
Consolidated profit and loss account<br />
for the business year <strong>1997</strong>/98<br />
Items Previousb<br />
Notes TDM year TDM<br />
III. Technical account for reinsurance and<br />
property-casualty insurance<br />
1. Earned premiums for own account (15) 25,733,280 19,084,998<br />
2. Interest income on premium funds for<br />
own account 1,162,078 1,037,751<br />
3. Other underwriting income for own account 18,773 15,012<br />
4. Claims incurred for own account (16) 16,950,492 12,334,322<br />
5. Change in other underwriting provisions<br />
for own account (17) –1,479,395 –1,511,244<br />
6. Expenditure for premium refunds for<br />
own account 43,156 54,149<br />
7. Operating expenses for own account (18, 19) 8,362,208 5,900,602<br />
8. Other underwriting expenditure for own<br />
account (20) 69,423 68,496<br />
9. Subtotal (21) 9,457 268,948<br />
10. Change in the claims equalization provision<br />
and similar provisions –1,281,844 –1,215,816<br />
11. Underwriting result for own account in<br />
reinsurance and property-casualty insurance –1,272,387 –946,868<br />
III. Technical account for life and health insurance<br />
1. Earned premiums for own account (15) 14,751,585 9,579,754<br />
2. Premiums from the gross provision<br />
for policyholders’ dividends 1,682,983 1,185,916<br />
3. Allocated investment return transferred<br />
from the non-technical account 8,035,474 5,786,816<br />
4. Unrealized gains on investments 22,845 11,755<br />
5. Other underwriting income for own account 65,444 53,181<br />
6. Claims incurred for own account (16) 10,311,539 6,498,910<br />
7. Change in other underwriting provisions<br />
for own account (17) –6,528,339 –4,397,125<br />
8. Expenditure for policyholders’ dividends<br />
for own account 4,035,151 3,058,261<br />
9. Operating expenses for own account (18, 19) 2,369,957 1,562,817<br />
10. Unrealized losses on investments 1,663 8<br />
11. Other underwriting expenditure for own<br />
account (20) 725,521 593,030<br />
12. Underwriting result for own account<br />
in life and health insurance (21) 586,161 507,271<br />
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