01 Gothaer Konzern_E_09_Umschl - Gothaer Allgemeine ...

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01 Gothaer Konzern_E_09_Umschl - Gothaer Allgemeine ...

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Underwriting expenses

(net)

Consolidated Financial Statements

Health insurance* €million

* Figures based on full consolidation

** Comparatives after restatement

2009 2008**

Gothaer Group Annual Report 2009 175

Gross

Re Net Gross Re Net

Claims paid 485.1 5.3 479.8 456.6 3.6 453.0

Changes in reserves

for unpaid claims 5.5 0.2 5.3 9.7 0.0 9.7

Changes in policy reserves

and other underwriting reserves 249.7 0.0 249.7 202.4 0.0 202.4

Premium refunds

Due to national regulations 61.0 0.0 61.0 131.1 0.0 131.1

Deferred premium refunds –3.7 0.0 –3.7 29.6 0.0 29.6

Premium refunds total 57.3 0.0 57.3 160.7 0.0 160.7

Other underwriting income (–)/

expenses(+) 0.4 0.0 0.4 0.4 0.0 0.4

Total 798.0 5.5 792.5 829.8 3.6 826.2

Breakdown by segment* €million

Property/

Casualty **

2009

* Figures based on full consolidation

**Including insurance portfolio of Gothaer Finanzholding AG

Life Health

Total

2008 2009 2008 2009 2008 2009 2008

Acquisition costs 118.4 105.9 144.2 183.6 65.1 52.8 327.7 342.3

Change in deferred acquisition

costs –12.2 7.3 6.8 –20.0 –10.5 1.7 –16.0 –11.0

Administrative expenses 375.3 389.7 47.8 43.2 23.6 22.7 446.7 455.5

Underwriting expenses (gross) 481.5 502.9 198.8 206.8 78.2 77.2 758.4 786.8

Commissions and profit sharing

received on reinsurance

business ceded 105.8 82.2 2.3 4.3 0.0 0.5 108.1 87.0

Change in deferred acquisition

costs –9.1 –3.3 11.1 12.4 0.0 0.0 2.0 9.0

Underwriting expenses

(reinsurers’ share) 96.7 78.9 13.4 16.7 0.0 0.5 110.1 96.0

Total 384.7 424.0 185.4 190.1 78.2 76.7 648.3 690.8

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