Annual Report 1997/1998 - Munich Re

Munich Re Group Notes on the accounts
Broken down by class of business, the net underwriting funds and
provisions are as follows (in DM m):
Unearned Premium Claims Equalization Other Total Reserves
premiums funds provision provisions provisions as % of
net premiums 1
Reinsurers 4,904 16,719 33,261 6,072 421 61,377 286
– Life 695 15,432 357 – 17 16,501 477
– Personal
accident/health 348 1,287 2,879 2 17 4,533 300
– Liability 665 – 13,086 883 –77 14,557 609
– Motor 748 – 7,594 543 24 8,909 226
– Marine/aviation 194 – 1,705 292 3 2,194 174
– Fire 943 – 3,405 2,731 288 7,367 159
– Engineering 691 – 2,435 511 55 3,692 216
– Other classes 620 – 1,800 1,110 94 3,624 141
Direct insurers 2,213 104,855 7,956 884 12,600 128,508 544
– Life 1,143 90,095 372 – 9,848 101,458 895
– Health 57 14,530 1,109 – 2,533 18,229 304
– Personal accident 55 107 928 4 101 1,195 97
– Motor 52 65 2,091 321 40 2,569 163
– Other classes 906 58 3,456 559 78 5,057 146
Total 7,117 121,574 41,217 6,956 13,021 189,885 421
1 In this calculation the net premiums written by the new companies in the consolidated
group were taken into account on a full-year basis.
The claims equalization provision and similar provisions are made
up as follows:
92
30.6.1998 Previous year
TDM TDM
Claims equalization provision 5,273,977 3,477,045
Provisions for major risks 188,585 169,478
Provision for earthquake risks 1,493,847 1,169,830
Total 6,956,409 4,816,353