34. Net investment income


By segment

Property and casualty insurance

Health insurance

Life insurance

Group

Figures in € thousand

2013

2012

2013

2012

2013

2012

2013

2012

I.

Properties held as investments

5,691

5,030

25,390

9,486

69,457

38,355

100,538

52,871

II.

Shares in associated companies

3,056

4,723

8,679

8,389

10,494

3,387

22,229

16,499

III.

Variable-yield securities

27,795

18,207

7,043

10,245

101,468

117,821

136,305

146,273

 

1.

Available for sale

27,369

17,492

6,520

8,029

96,695

97,330

130,583

122,852

 

2.

At fair value through profit or loss

426

715

523

2,216

4,773

20,491

5,722

23,422

IV.

Fixed interest securities

64,099

60,697

37,381

53,316

374,331

454,689

475,811

568,702

 

1.

Available for sale

63,243

58,518

35,258

49,688

355,046

403,135

453,548

511,341

 

2.

At fair value through profit or loss

856

2,179

2,122

3,628

19,285

51,554

22,263

57,361

V.

Loans and other investments

19,615

15,550

7,372

7,014

68,334

50,860

95,320

73,424

 

1.

Loans

3,174

4,251

5,331

6,429

30,327

25,885

38,832

36,565

 

2.

Other investments

16,441

11,299

2,041

585

38,007

24,975

56,488

36,859

VI.

Derivative financial instruments (held for trading)

1,140

2,865

3,662

11,763

23,976

–10,346

28,779

4,282

VII.

Expenditure for asset management, interest charges and other expenses

–22,781

–21,880

–10,128

–7,630

–46,071

–41,103

–78,981

–70,613

Total (fully consolidated values)

98,614

85,191

79,399

92,583

601,989

613,664

780,002

791,437

Based on stage 3 valuations (hierarchy for instruments that are recognised at the reconciled current value), income from available-for-sale fixed-income securities included losses in the amount of € 18,812 thousand, while income from fixed-income securities valuated at current value in the income statement included profits in the amount of € 1,047 thousand.

By income type

Ordinary income

Write-ups

Realised capital gains

Depreciation

Realised capital losses

Group

of which value adjustment

Figures in € thousand

2013

2012

2013

2012

2013

2012

2013

2012

2013

2012

2013

2012

2013

2012

I.

Properties held as investments

75,008

79,610

0

2,816

93,168

23,185

–63,723

–52,132

–3,916

–608

100,538

52,871

–11,226

–6,714

II.

Shares in associated companies

20,023

16,503

0

0

2,207

4

0

–8

0

0

22,229

16,499

0

0

III.

Variable-yield securities

57,621

53,838

19,643

69,557

133,030

92,597

–52,254

–66,806

–21,735

–2,913

136,305

146,273

–29,999

–11,457

 

1.

Available for sale

52,369

48,354

3,954

13,173

129,707

88,861

–36,507

–25,799

–18,940

–1,738

130,583

122,852

–29,999

–11,457

 

2.

At fair value through profit or loss

5,252

5,484

15,688

56,384

3,323

3,736

–15,746

–41,007

–2,795

–1,174

5,722

23,422

0

0

IV.

Fixed interest securities

529,973

550,063

104,221

113,131

80,740

182,248

–232,788

–138,901

–6,334

–137,840

475,811

568,702

–39,208

–25,827

 

1.

Available for sale

509,601

530,828

87,591

58,573

78,384

180,997

–215,899

–121,300

–6,131

–137,756

453,548

511,341

–39,208

–25,827

 

2.

At fair value through profit or loss

20,372

19,236

16,629

54,559

2,355

1,251

–16,890

–17,600

–204

–84

22,263

57,361

0

0

V.

Loans and other investments

83,440

87,417

11,134

1,770

3,760

4,374

–1,431

–8,825

–1,582

–11,311

95,320

73,424

–804

–774

 

1.

Loans

36,371

44,772

1,160

6

3,353

3,550

–804

–774

–1,248

–10,989

38,832

36,565

–804

–774

 

2.

Other investments

47,069

42,644

9,974

1,764

408

824

–628

–8,051

–335

–322

56,488

36,859

0

0

VI.

Derivative financial instruments (held for trading)

–5,779

–1,615

33,952

71,779

73,489

42,128

–39,470

–27,182

–33,413

–80,827

28,779

4,282

0

0

VII.

Expenditure for asset management, interest charges and other expenses

–78,981

–70,613

0

0

0

0

0

0

0

0

–78,981

–70,613

0

0

Total (fully consolidated values)

681,306

715,202

168,949

259,053

386,394

344,536

–389,666

–293,855

–66,981

–233,499

780,002

791,437

–81,236

–44,772

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 € 45,935 thousand (2012: € 55,668 thousand). Net investment income of € 780,002 thousand includes realised and unrealised profits and losses amounting to € 98,696 thousand, which include currency losses of € 64,805 thousand. The effects mainly resulted from investments in US dollars, British pounds, Australian dollars, Russian roubles and Turkish lira. Investments in US dollars generated currency losses of € 30,647 thousand. The currency losses in the underlying US dollar securities amounted to approximately € 66,746 thousand. These losses were partly offset by gains from derivative financial instruments in the amount of € 36,099 thousand in connection with hedging transactions. In addition, negative currency effects amounting to € 6,698 thousand were recorded directly as equity.

The income from properties held as financial investments include rent revenue in the amount of € 114,898 thousand (2012: € 113,687 thousand) and direct operational expenses in the amount of € 39,890 thousand (2012: € 34,077 thousand).

Of which securities, available for sale type of investment

Ordinary income

Write-ups

Realised capital gains

Depreciation

Realised capital losses

Group

of which value adjustment

Figures in € thousand

2013

2012

2013

2012

2013

2012

2013

2012

2013

2012

2013

2012

2013

2012

III.

Variable-yield securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.

Available for sale

52,369

48,354

3,954

13,173

129,707

88,861

–36,507

–25,799

–18,940

–1,738

130,583

122,852

–29,999

–11,457

 

 

 

Shares in affiliated companies

331

360

0

0

14,790

3,907

0

0

–1,736

–341

13,386

3,926

0

0

 

 

 

Shares

27,478

14,940

118

2

55,911

40,187

–12,946

–9,399

–13,019

–216

57,542

45,514

–10,470

–8,437

 

 

 

Equity funds

4,898

4,009

1,719

3,573

14,995

24,271

–7,724

–6,862

–349

–1,066

13,540

23,925

–5,941

–3,268

 

 

 

Debenture bonds not capital-guaranteed

8,707

16,439

2,117

9,599

2,441

1,313

–12,749

–4,134

–2,685

–116

–2,169

23,101

–10,500

5,591

 

 

 

Other variable-yield securities

912

1,215

0

0

0

0

0

–2,400

0

0

912

–1,185

0

–2,400

 

 

 

Participating interests and other investments

10,043

11,391

1

0

41,569

19,183

–3,089

–3,004

–1,151

0

47,373

27,570

–3,088

–2,943

IV.

Fixed interest securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.

Available for sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed-interest securities

509,601

530,828

87,591

58,573

78,384

180,997

–215,899

–121,300

–6,131

–137,756

453,548

511,341

–39,208

–25,827

© UNIQA Group 2014