01 Gothaer Konzern_E_09_Umschl - Gothaer Allgemeine ...

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01 Gothaer Konzern_E_09_Umschl - Gothaer Allgemeine ...

Notes to the Consolidated Statement

of Financial Position – Equity and Liabilities

[15]

Other reserves

Unrealized gains

and losses on

investments available

for sale

[16]

Minority interests

Consolidated Financial Statements

Breakdown by reserve item €million

2009 2008

Unrealized gains and losses

on investments available for sale 40.3 2.5

resulting from reclassification of investments –17.8 –28.9

Total 22.5 –26.4

Due to the application of the revised version of IAS 39 in 2005, investments in the

available for sale category were reassigned to the valuation categories for investments

held to maturity and loans. In 2008, the new option in IAS 39.50 was used to reclassify

other investments available for sale as loans. The unrealized gains and losses from these

reclassified investments are recognized in a special reserve under other reserves. In the

event of the disposal or impairment of an investment, the reserve is reversed in full. If the

investment remains unchanged in the portfolio, the reserve is reversed by amortization

over the residual term of the asset.

Reconciliation €million

2009 2008

Gross amount 158.5 –224.9

Less:

Reserves for deferred premium refunds 114.2 –203.0

Deferred taxes –4.6 –30.3

Effects of consolidation 8.6 5.9

Total 40.3 2.5

Exchange rate differences of €–0.8 million (PY: €0.5 million) are recognized directly in

equity.

Breakdown by equity item €million

2009 2008 Opening balance

sheet 2008

Revenue reserves 22.2 27.2 30.4

Other reserves 8.6 5.8 7.7

Net profit for the year 1.7 2.6 6.3

Total 32.5 35.6 44.4

Gothaer Group Annual Report 2009 149

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