Annual Report 2003 - Hannover Re

SEGMENTAL REPORT
as at 31 December 2003
In the following table we have allocated the underwriting assets and liabilities as at 31 December
2003 and 2002 to our business segments after eliminating intergroup transactions across segments.
Segmentation of underwriting assets and liabilities
Figures in EUR thousand
Property/casualty reinsurance
Life/health reinsurance
2003* 2002
2003* 2002
Commercial
treatment
US GAAP
"As-if-pooling"
method**
Commercial
treatment
US GAAP
"As-if-pooling"
method**
Assets
Prepaid reinsurance premiums 99 122 94 365 94 365 2 555 1 523 1 523
Deferred acquisition costs (net) 197 078 250 988 250 988 1 344 206 963 961 963 961
Reinsurance recoverables on benefit reserves – – – 206 717 489 784 489 784
Reinsurance recoverables on incurred claims
and others 1 817 976 3 073 835 3 073 835 96 379 112 513 112 513
Funds held by ceding companies 176 330 252 479 252 479 3 257 988 3 329 560 3 329 560
Total underwriting assets 2 290 506 3 671 667 3 671 667 4 907 845 4 897 341 4 897 341
Liabilities
Loss and loss adjustment expense reserve 8 396 999 8 954 985 8 954 985 929 396 934 142 934 142
Policy benefits for life and health contracts – – – 4 001 148 4 136 701 4 136 701
Unearned premium reserve 939 942 1 124 308 1 124 308 21 868 21 522 21 522
Other technical provisions 93 987 110 872 110 872 24 002 20 437 20 437
Funds held under reinsurance treaties 559 333 986 831 986 831 216 185 343 819 343 819
Total underwriting liabilities 9 990 261 11 176 996 11 176 996 5 192 599 5 456 621 5 456 621
* The figures for the commercial treatment and under the US GAAP "as-if-pooling" method are identical.
** On the need to apply the "as-if-pooling" method under US GAAP cf. management report p. 19 et seq.
78