01 Gothaer Konzern_E_09_Umschl - Gothaer Allgemeine ...

Consolidated Financial Statements
[12]
Deferred acquisition
costs (net)*
[13]
Tax assets
[14]
Other assets
Breakdown by segment €million
Property/
Casualty*
2009
* Figures based on full consolidation
** Including insurance portfolio of Gothaer Finanzholding AG
Life Health
148 Gothaer Group Annual Report 2009
Total
2008 2009 2008 2009 2008 2009 2008
Balance 1 Jan.
Gross 48.1 55.5 839.3 821.2 149.5 151.2 1,036.9 1,027.8
Reinsurers’ share 10.0 6.7 61.0 73.4 0.0 0.0 71.0 80.1
Net 38.1 48.8 778.3 747.7 149.5 151.2 965.9 947.7
New deferred
acquisition costs
Gross 47.6 35.4 74.1 114.9 29.3 15.9 151.0 166.3
Reinsurers’ share 21.4 9.1 1.4 1.2 0.0 0.0 22.7 10.3
Net 26.3 26.3 72.7 113.7 29.3 15.9 128.3 156.0
Amortization
Gross 35.4 42.8 80.9 96.8 18.7 17.6 135.0 157.2
Reinsurers’ share 12.3 5.8 12.5 13.6 0.0 0.0 24.8 19.4
Net 23.1 37.0 68.4 83.2 18.7 17.6 110.2 137.8
Balance 31 Dec.
Gross 60.4 48.1 832.5 839.3 160.0 149.5 1,052.9 1,036.9
Reinsurers’ share 19.1 10.0 49.9 61.0 0.0 0.0 69.0 71.0
Net 41.3 38.1 782.6 778.3 160.0 149.5 983.9 965.9
Deferred tax assets are based on the one hand on deferred taxes arising from tax loss
carryforwards and on the other hand on lower carrying amounts for investments under
IFRS than under the tax balance sheet and higher carrying amounts for provisions for
pension benefits.
In the current financial year, corporate income tax loss carryforwards in the amount of
€175.7 million (PY: €207.9 million) and trade tax loss carryforwards in the amount of
€183.6 million (PY: €218.3 million) were considered not utilizable so that no deferred tax
assets were recognized. They can be used without time limitation.
Breakdown by asset item €million
2009 2008
Inventories 2.3 3.3
Other assets 7.4 7.5
Total 9.7 10.8