Annual Report 2009
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Chairman's Letter
Balance Sheet
Statement of income
Development of segments
Home
Key figures
Segments and brands at a glance
Letter from the Chairman of the Board of Management
Boards and Officers
Report of the Supervisory Board
The Group and its new structure
Spotlights 2009
Group management report
Consolidated financial statements
Notes
Auditors’ report
Talanx worldwide
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Key figures
Segments and brands at a glance
Property/Casualty Primary Insurance
Life Primary Insurance
Non-Life Reinsurance
Life/Health Reinsurance
Corporate Operations
Our Brands
Letter from the Chairman of the Board of Management
Boards and Officers
Supervisory Board
Supervisory Board Committees
Board of Management
Areas of responsibility of the members
Report of the Supervisory Board
The Group and its new structure
The strategy
The market
The customer
The goal
Spotlights 2009
Group management report
Business operations, organization and structure
Strategy
Strategic objectives
Markets, business climate and legal environment
Overall economic development
Capital markets
International insurance markets
German insurance industry
Legal and regulatory environment
Corporate Governance
Board of Management
Supervisory Board
General Meeting
Compliance
Business development
Foreign business remains on expansionary course
Cooperation with Swiss Life making progress
New structure designed to build on strengths and close strategic gaps
Business experience of the Group
Development of the Group segments
Property/Casualty Primary Insurance
Life Primary Insurance
Non-Life Reinsurance
Life/Health Reinsurance
Corporate Operations
Financial position and assets
Asset/liability management
Investments
Investment income
Capital and performance management
Ratings of the Group and its major subsidiaries
Analysis of the consolidated cash flow statement
Overall assessment of the economic situation
Non-financial performance indicators
Staff
Sustainability
Corporate social responsibility
Sales, marketing and advertising
Risk report
Accounting-related internal control and risk management system
Risks of future development
Effects of the banking crisis
Material underwriting risks
Default risks under insurance business
Material investment risks
Material operational risks
Other material risks
Events of special significance after the balance sheet date
Forecast
Economic environment
Orientation of the Group over the next two financial years
Opportunities
Anticipated development of the Group
Consolidated financial statements
Consolidated balance sheet
Consolidated statement of income
Consolidated statement of comprehensive income
Consolidated statement of changes in shareholders’ equity
Cash flow statement
Notes on the cash flow statement
Segment report
Balance sheet
Statement of income
Segment report
Notes
General information
General accounting principles and adoption of International Financial Reporting Standards (IFRS)
Summary of major accounting policies
Assets
Liabilities
Consolidation
Segment reporting
Business combinations in the reporting period
Disposal groups
Nature of risks associated with insurance contracts and financial instruments
Classes of financial instruments
Risks from insurance contracts
Management of technical risks in property/casualty insurance
Management of market risks in life insurance
Management of credit risks from insurance contracts
Risks from investments
Management of risks from investments
Default risks
Management of concentration risks
Management of liquidity risks
Fair value hierarchy
Notes on the consolidated balance sheet – assets
Goodwill
Other intangible assets
Investment property
Investments in affiliated companies and participating interests
Investments in associated companies
Loans and receivables
Financial assets held to maturity
Financial assets available for sale
Financial assets at fair value through profit or loss
Financial assets – trading
Other invested assets
Derivative financial instruments and hedge accounting
Accounts receivable on insurance business
Deferred acquisition costs
Other assets
Notes on the consolidated balance sheet – liabilities
Shareholders’ equity
Subordinated liabilities
Unearned premium reserve
Benefit reserve
Loss and loss adjustment expense reserve
Provision for premium refunds
Provisions for pensions and other post-employment benefit obligations
Provisions for taxes
Sundry provisions
Notes payable and loans
Other liabilities
Deferred taxes
Notes on the consolidated statement of income
Net premium earned
Investment income
Claims and claims expenses
Acquisition costs and administrative expenses
Other income/expenses
Amortization of insurance-related intangible assets and goodwill impairments
Financing costs
Taxes on income
Other information
Staff
Transactions with related parties
Share-based payment
Lawsuits
Contingent liabilities and other financial commitments
Rents and leasing
Remuneration of the management boards of the parent company
Fee paid to the auditor
Declaration of conformity pursuant to § 161 German Stock Corporation Act (AktG)
Events after the balance sheet date
Auditors’ report
Talanx worldwide
Our worldwide network
Our locations
Group structure
Contact
Glossary
Imprint
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