34. Net investment income


By segment

Property and casualty

Health

Life

Group

Figures in € thousand

2012

2011

2012

2011

2012

2011

2012

2011

I.

Properties held as investments

5,030

7,772

9,486

3,639

38,355

–8,402

52,871

3,009

II.

Shares in associated companies

5,331

–15,897

8,389

11,619

5,334

6,212

19,053

1,934

III.

Variable-yield securities

17,707

–1,316

10,245

–13,977

115,875

9,448

143,827

–5,845

 

1

Available for sale

16,992

505

8,030

–10,784

95,384

352

120,405

–9,926

 

2

At fair value through profit or loss

715

–1,822

2,216

–3,193

20,491

9,096

23,422

4,081

IV.

Fixed-interest securities

60,697

45,473

53,316

–1,710

454,689

197,320

568,702

241,083

 

1

Held to maturity

0

1,076

0

2,218

0

14,044

0

17,338

 

2

Available for sale

58,518

44,437

49,688

–5,092

403,135

166,500

511,341

205,845

 

3

At fair value through profit or loss

2,179

–41

3,628

1,164

51,554

16,777

57,361

17,900

V.

Loans and other investments

15,550

16,397

7,014

6,626

50,860

77,567

73,424

100,590

 

1

Loans

4,251

3,227

6,429

2,497

25,885

35,727

36,565

41,450

 

2

Other investments

11,299

13,170

585

4,129

24,975

41,840

36,859

59,140

VI.

Derivative financial instruments (held for trading)

2,865

–8,208

11,763

–9,827

–10,346

–80,009

4,282

–98,044

VII.

Expenditure for asset management, interest charges and other expenses

–21,880

–4,511

–7,630

–5,814

–41,103

–30,583

–70,613

–40,907

Total (fully consolidated values)

85,300

39,710

92,583

–9,445

613,664

171,553

791,546

201,818

Based on level 3 valuations (hierarchy for instruments which are recognized at the reconciled current value), income from available-for-sale fixed-income securities included losses in the amount of € 2,781 thousand, while income from fixed-income securities valuated at current value in the income statement included losses in the amount of € 1,699 thousand.

By income type

Ordinary income

Write-ups and unrealised capital gains

Realised capital gains

Write-offs and unrealised capital losses

Realised capital losses

Group

of which value adjustment

Figures in € thousand

2012

2011

2012

2011

2012

2011

2012

2011

2012

2011

2012

2011

2012

2011

I.

Properties held as investments

79,610

64,859

2,816

0

23,185

648

–52,132

–62,457

–608

–41

52,871

3,009

–6,714

–19,158

II.

Shares in associated companies

19,058

13,522

0

0

4

0

–8

–11,588

0

0

19,053

1,934

0

0

III.

Variable-yield securities

51,392

47,420

69,557

87,229

92,597

41,096

–66,806

–157,840

–2,913

–23,750

143,827

–5,845

–11,449

–52,561

 

1

Available for sale

45,908

36,468

13,173

18,230

88,861

28,426

–25,799

–73,156

–1,738

–19,895

120,405

–9,926

–11,449

–52,561

 

2

At fair value through profit or loss

5,484

10,952

56,384

68,999

3,736

12,670

–41,007

–84,684

–1,174

–3,855

23,422

4,081

0

0

IV.

Fixed-interest securities

550,063

530,384

113,131

60,218

182,248

112,216

–138,901

–438,562

–137,840

–23,173

568,702

241,083

–25,827

–389,466

 

1

Held to maturity

0

17,338

0

0

0

0

0

0

0

0

0

17,338

0

0

 

2

Available for sale

530,828

494,555

58,573

25,987

180,997

111,292

–121,300

–402,816

–137,756

–23,173

511,341

205,845

–25,827

–389,466

 

3

At fair value through profit or loss

19,236

18,491

54,559

34,231

1,251

924

–17,600

–35,746

–84

0

57,361

17,900

0

0

V.

Loans and other investments

87,417

111,831

1,770

2,157

4,374

3,387

–8,825

–4,584

–11,311

–12,201

73,424

100,590

–774

–5,288

 

1

Loans

44,772

53,789

6

146

3,550

3,387

–774

–3,671

–10,989

–12,201

36,565

41,450

–774

–5,288

 

2

Other investments

42,644

58,042

1,764

2,010

824

0

–8,051

–913

–322

0

36,859

59,140

0

0

VI.

Derivative financial instruments (held for trading)

–1,615

–16,794

71,779

82,092

42,128

40,402

–27,182

–80,042

–80,827

–123,702

4,282

–98,044

0

0

VII.

Expenditure for asset management, interest charges and other expenses

–70,613

–40,907

0

0

0

0

0

0

0

0

–70,613

–40,907

0

0

Total (fully consolidated values)

715,311

710,315

259,053

231,696

344,536

197,748

–293,855

–755,073

–233,499

–182,868

791,546

201,818

–44,764

–466,473

The updating of the value adjustment concerns both appreciation and depreciation of financial assets, excluding assets held for trading and financial assets at fair value through profit or loss. Interest income from impaired portfolio items amounts to € 55,668 thousand (2011: € 25,994 thousand). Net investment income of € 791,546 thousand includes realised and unrealised profits and losses amounting to € 76,235 thousand, which include currency gains of € 40,912 thousand. In addition, negative currency effects amounting to € 21,562 thousand were recorded directly as equity. The effects largely resulted from investments in US dollars.

The income from properties held as financial investments include rent revenue in the amount of € 113,687 thousand (2011: € 96,634 thousand) and direct operational expenses in the amount of € 34,077 thousand (2011: € 31,772 thousand).

Of which securities, available for sale type of investment

Ordinary income

Write-ups and unrealised capital gains

Realised capital gains

Write-offs and unrealised capital losses

Realised capital losses

Group

of which value adjustment

Figures in € thousand

2012

2011

2012

2011

2012

2011

2012

2011

2012

2011

2012

2011

2012

2011

III.

Variable-yield securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.

Available for sale

45,908

36,468

13,173

18,230

88,861

28,426

–25,799

–73,156

–1,738

–19,895

120,405

–9,926

–11,449

–52,561

 

 

 

Shares in affiliated companies

360

–20

0

0

3,907

1,103

0

–205

–341

–59

3,926

818

0

0

 

 

 

Shares

14,940

20,121

2

401

40,187

8,681

–9,399

–43,019

–216

–9,866

45,514

–23,681

–8,437

–41,535

 

 

 

Equity funds

4,009

6,335

3,573

170

24,271

451

–6,862

–4,295

–1,066

–9,847

23,925

–7,187

–3,268

–4,089

 

 

 

Debenture bonds not capital-guaranteed

16,439

4,726

9,599

17,642

1,313

1,611

–4,134

–20,122

–116

–110

23,101

3,747

5,591

–2,523

 

 

 

Other variable-yield securities

1,215

1,509

0

0

0

0

–2,400

–1,500

0

0

–1,185

9

–2,400

–1,950

 

 

 

Participating interests and other investments

8,945

3,798

0

17

19,183

16,581

–3,004

–4,015

0

–13

25,123

16,368

–2,934

–2,464

IV.

Fixed interest securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

Available for sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed-interest securities

530,828

494,555

58,573

25,987

180,997

111,292

–121,300

–402,816

–137,756

–23,173

511,341

205,845

–25,827

–389,466

© UNIQA Group 2013