Vienna Insurance Group loans had a book value of EUR 3,994.2 million on 31 December 2008, and a book value of EUR 1,187.4 million on 31 December 2007. The increase in the book value in financial year 2008 was due to reclassifications and the acquisition of s Versicherung. In the CEE region, investments in loans and credits have much less importance. Loans in this region are made almost exclusively to the Group’s own real estate subsidiaries.
The carrying value of reclassified loans was not impaired as of 31 December 2008. A portfolio analysis and an analysis of remaining time to maturity for the Vienna Insurance Group’s loan portfolio are provided in Note 5, “Loans and other investments”, in the notes to the consolidated financial statements.
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