Consolidated statement of income as at 30 June 2014
Consolidated statement of income as at 30 June 2014
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| in EUR thousand | 1.4. – 30.6.2014 | 1.1. – 30.6.2014 | 1.4. – 30.6.20131 | 1.1. – 30.6.20131 |
|---|---|---|---|---|
| Gross written premium | 3,440,453 | 7,064,892 | 3,468,787 | 7,226,662 |
| Ceded written premium | 444,088 | 866,059 | 343,469 | 724,390 |
| Change in gross unearned premium | (63,707) | (387,466) | (7,227) | (345,708) |
| Change in ceded unearned premium | (6,034) | 27,993 | (7,433) | 34,955 |
| Net premium earned | 2,926,624 | 5,839,360 | 3,110,658 | 6,191,519 |
| Ordinary investment income | 248,737 | 490,143 | 257,494 | 503,601 |
| Profit/loss from investments in associated companies | 1,385 | 4,307 | 5,150 | 6,240 |
| Realised gains and losses on investments | 34,393 | 88,498 | 49,726 | 84,498 |
| Change in fair value of financial instruments | 2,550 | 9,997 | (40,834) | (37,523) |
| Total depreciation, impairments and appreciation of investments | 4,795 | 10,336 | 5,072 | 8,165 |
| Other investment expenses | 22,246 | 50,049 | 25,935 | 47,202 |
| Net income from investments under own management | 260,024 | 532,560 | 240,529 | 501,449 |
| Income/expense on funds withheld and contract deposits | 86,330 | 174,945 | 93,726 | 187,549 |
| Net investment income | 346,354 | 707,505 | 334,255 | 688,998 |
| Other technical income | 1,223 | 1,611 | 131 | 836 |
| Total revenues | 3,274,201 | 6,548,476 | 3,445,044 | 6,881,353 |
| Claims and claims expenses | 2,230,315 | 4,409,101 | 2,296,319 | 4,552,300 |
| Change in benefit reserves | (35,122) | 14,697 | (27,676) | 51,467 |
| Commission and brokerage, change in deferred acquisition costs | 626,324 | 1,210,300 | 766,662 | 1,391,139 |
| Other acquisition costs | 1,043 | 2,384 | 1,042 | 1,890 |
| Other technical expenses | 1,227 | 4,133 | 5,343 | 6,710 |
| Administrative expenses | 92,094 | 185,871 | 83,639 | 171,998 |
| Total technical expenses | 2,915,881 | 5,826,486 | 3,125,329 | 6,175,504 |
| Other income and expenses | (24,257) | (38,304) | 6,793 | (12,800) |
| Operating profit (EBIT) | 334,063 | 683,686 | 326,508 | 693,049 |
| Interest on hybrid capital | 21,053 | 48,847 | 31,662 | 63,041 |
| Net income before taxes | 313,010 | 634,839 | 294,846 | 630,008 |
| Taxes | 93,325 | 155,655 | 85,451 | 171,992 |
| Net income | 219,685 | 479,184 | 209,395 | 458,016 |
| thereof | ||||
| Non-controlling interest in profit and loss | 8,217 | 34,762 | 17,127 | 34,526 |
| Group net income | 211,468 | 444,422 | 192,268 | 423,490 |
| Earnings per share (in EUR) | ||||
| Basic earnings per share | 1.75 | 3.69 | 1.59 | 3.51 |
| Diluted earnings per share | 1.75 | 3.69 | 1.59 | 3.51 |
| 1 Adjusted pursuant to IAS 8 (cf. Section 2 of the notes) | ||||