R+V Versicherung AG

52
Notes to the balance sheet
C. CAPITAL INVESTMENTS
In € million
Balance sheet position Book Value Current Value Reserve
December 31 December 31 December 31
I. Land, land rights and buildings, including buildings on third party land 3.6 7.6 4.0
II. Investments in affiliated and associated companies
1. Shares in affiliated companies 1,828.7 3,464.8 1,636.2
2. Loans to affiliated companies 151.6 151.6 –.–
3. Investments in associates 1.4 1.5 0.1
4. Loans to companies where investments in associates exist 30.0 30.0 –.–
III. Other capital investments
1. Shares, investment certificates and other variable-yield securities 91.3 91.4 0.1
2. Bearer bonds and other fixed-income securities 288.7 296.1 7.4
Other loans
4.a) Registered bonds 317.5 332.3 14.8
4.b) Notes receivable and loans 296.6 307.9 11.3
5. Deposits with banks 8.4 8.4 –.–
6. Miscellaneous investments 0.1 0.1 –.–
IV. Deposits with ceding undertakings 241.5 241.5 –.–
Total Capital Investments 3,259.2 4,933.2 1,674.0
In the book values the balance of premiums and discounts
(EUR +6.8 million) have been taken into account for the
nominal balance sheet investments.
EUR 106 million were allocated to the fixed investments in
accordance with section 341b, (2) HGB. This includes negative
valuation reserves of EUR 3 million based on prices as of
31 December 2009. The valuation reserves of the total capital
investments amount to EUR 1,674 million which corresponds
with a reserve ratio of 51.4%.
Generally, current values were calculated on the basis of stock
market prices or market prices, or using the net capitalized
earning method pursuant to IDW S1 (Institute of Certified
Accountants in Germany) in conjunction with IDW RS HFA 10.
The buildings were last appraised as of 31 December 2009.
Land is valued every five years, most recently in 2009. Where
other valuation amounts have been used in individual cases,
these comply with the provisions of section 56 RechVersV.
Land and buildings used by the company are not included.