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11 (e) Other financial investmentsOther financial investments, with the exception of “Bonds and otherfixed-income securities”, are valued at their historical cost ofacquisition.In the event of a diminution in value at the close of accounts, thevalue of other financial investments, with the exception of “Bondsand other fixed-income securities”, is adjusted to reflect the lowervalue assigned to the investments at this date.These value adjustments are not reversed, even if the reasons givingrise to them cease to exist.11 (f) Bonds and other fixed-income securitiesBonds and other fixed-income securities are valued at the historicalcost of acquisition or at their redemption price, taking into accountthe following elements:• positive differences (agio) between the cost of acquisition andredemption price are posted directly to the profit and loss account;• negative differences (disagio) between the cost of acquisition andredemption price are not reported as income until the security59reaches maturity;Value adjustments corresponding to positive differences between theamortised cost of acquisition or redemption price and the marketvalue are not reversed, even if the reasons giving rise to them haveceased to exist.11 (g) Investments on behalf of life insurance policy holders wherethe risk is assumed by the policy holderInvestments on behalf of life insurance policy holders where the riskis assumed by the policy holder are valued at their market value onthe date the accounts are closed and the difference between thisvalue and the cost of acquisition is posted to the life insurance technicalaccount under the unrealised capital gains or losses on investmentsheading.The market value corresponds either to the value of the investmenton the securities market or the price at which the investment couldbe sold, estimated prudently and in good faith.