Annual Report 2010 - Hannover Re

Other technical expenses in EUR thousand 2010 2009
Other technical expenses (gross) 44,574 38,892
Reinsurance recoverables 391 104
Other technical expenses (net) 44,183 38,788
6.4 Other income/expenses
Other income/expenses in EUR thousand 2010 2009
Other income
Exchange gains 157,691 112,533
Reversals of impairments on receivables 55,655 95,879
Income from the recognition of negative goodwill – 92,652
Income from contracts recognised in accordance with the deposit accounting method 49,672 40,468
Income from services 10,546 7,893
Other interest income 5,896 1,904
Sundry income 106,931 24,823
386,391 376,152
Other expenses
Other interest expenses 35,246 48,757
Exchange losses 20,688 32,580
Separate value adjustments 13,540 35,022
Expenses for the company as a whole 39,847 33,690
Depreciation 15,489 11,488
Expenses for services 9,321 9,698
Expenses from the measurement of disposal groups 54,918 –
Sundry expenses 97,379 82,389
286,428 253,624
Total 99,963 122,528
Of the separate value adjustments, an amount of EUR 10.9
million (EUR 23.9 million) was attributable to accounts receivable,
EUR 2.1 million (EUR 10.4 million) to reinsurance
recoverables on unpaid claims and EUR 0.5 million (EUR 0.7
million) to other receivables.
6.5 Taxes on income
Domestic taxes on income, comparable taxes on income at
foreign subsidiaries as well as deferred taxes in accordance
with IAS 12 “Income Taxes” and deferred tax assets and liabilities
are recognised under this item.
The reader is referred to Section 3.2 “Summary of major accounting
policies” regarding the basic approach to the recognition
and measurement of deferred taxes.
The tax rate used to calculate the deferred taxes of the domestic
companies was unchanged from the previous year at
31.93% (rounded to 32%). It is arrived at from the corporate
income tax rate of 15.0% applicable since 1 January 2008,
the German reunification charge of 5.5% and a uniform trade
earnings tax rate of 16.1%. The deferred taxes at the companies
abroad were calculated using the applicable countryspecific
tax rates.
170 Notes 6.5 Taxes on income
Hannover Re Group annual report 2010