Annual Report 2010 - Hannover Re

With regard to the measurement of fixtures, fittings and equipment,
the reader is referred to our explanatory notes on the
other assets in Section 3.2 “Summary of major accounting
policies”.
Other intangible assets
Development of other intangible assets in EUR thousand 2010 2009
Gross book value at 31 December of the previous year 171,899 165,959
Currency translation at 1 January 1,373 24
Gross book value after currency translation 173,272 165,983
Change in consolidated group (6) –
Additions 4,157 7,598
Disposals 9,815 347
Currency translation at 31 December (15) (1,335)
Gross book value at 31 December of the year under review 167,593 171,899
Cumulative depreciation at 31 December of the previous year 115,028 104,649
Currency translation at 1 January 247 176
Cumulative depreciation after currency translation 115,275 104,825
Change in consolidated group (6) –
Disposals 84 194
Write-ups 12 80
Depreciation 12,602 10,474
Currency translation at 31 December 19 3
Cumulative depreciation at 31 December of the year under review 127,794 115,028
Net book value at 31 December of the previous year 56,871 61,310
Net book value at 31 December of the year under review 39,799 56,871
The item includes EUR 6.6 million (EUR 7.2 million) for selfprovided
software and EUR 31.6 million (EUR 36.6 million) for
purchased software as at the balance sheet date. Scheduled
depreciation is taken over useful lives of three to ten years.
The additions can be broken down into EUR 2.9 million (EUR
5.9 million) for purchased software and EUR 1.0 million (EUR
0.3 million) for capitalised development costs for self-provided
software.
As in the previous year, the other receivables do not include
any items that were overdue but unadjusted as at the balance
sheet date. Value adjustments were taken on other receivables
in an amount of EUR 0.3 million (EUR 0.7 million) in the year
under review on the basis of specific impairment analyses.
Credit risks may result from other financial assets that were
not overdue or adjusted as at the balance sheet date. In this
regard, the reader is referred in general to our comments on
the credit risk contained in the risk report on page 66 et seq.
5.7 Technical provisions
In order to show the net technical provisions remaining in the
retention the following table compares the gross provisions
with the corresponding retrocessionaires’ shares, which are
shown as assets in the balance sheet.
150 NOTES 5.7 technical provisions
Hannover Re Group annual report 2010