Consolidated Balance Sheet

A. Intangible assets

1

I. Goodwill

1,416,089

422,300

II. Purchased insurance portfolios

67,569

30,629

III. Other intangible assets

165,283

71,576

Total intangible assets

1,648,941

524,505

B. Investments

I. Land and buildings

2

3,090,411

2,868,725

II. Shares in at equity consolidated companies

3 + 4

119,651

51,799

III. Financial investments

21,337,503

17,250,865

a) Loans and other investments

5

5,765,808

1,858,350

b) Other securities

6

15,571,695

15,392,515

Financial investments held to maturity

2,347,061

373,273

Financial investments available for sale

11,707,295

13,877,579

Financial instruments recognised at fair value through profit or loss*

1,517,339

1,141,663

Total investments

24,547,565

20,171,389

C. Investments of unit- and index-linked life insurance

7

3,602,404

3,065,985

D. Reinsurers’ share in underwriting provisions

8

1,222,261

1,186,664

E. Receivables

9

1,500,067

1,200,283

F. Deferred tax assets

11

131,170

33,861

G. Other assets

12

393,385

284,686

H. Cash and cash equivalents

10

619,327

277,700

Total ASSETS

33,665,120

26,745,073

LIABILITIES AND SHAREHOLDERS’ EQUITY

Notes

31.12.2008

31.12.2007

in EUR ‘000

A. Shareholders’ equity

13

I. Share capital

132,887

109,009

II. Other capital reserves

2,109,003

1,035,029

III. Capital reserves from premiums paid on hybrid capital

245,602

0

IV. Retained earnings

1,423,144

1,057,693

V. Other reserves

-38,763

136,374

VI. Minority interests

266,917

277,458

Total shareholders’ equity

4,138,790

2,615,563

B. Subordinated liabilities

14

501,242

442,910

C. Underwriting provisions

I. Unearned premiums

15

1,030,712

960,354

II. Mathematical reserve

16

16,861,965

12,502,836

III. Provision for outstanding insurance claims

17

3,370,508

3,008,951

IV. Provision for profit-independent premium refunds

18

46,744

43,126

V. Provision for profit-dependent premium refunds

18

348,994

557,762

VI. Other underwriting provisions

19

23,444

19,100

Total underwriting provisions

21,682,367

17,092,129

D. Underwriting provisions of unit- and index-linked life insurance

20

3,346,773

2,948,522

E. Non-underwriting provisions

I. Provisions for pensions and similar obligations

21

338,160

404,618

II. Provision for taxes

22

152,853

126,029

III. Other provisions

23

261,009

264,155

Total non-underwriting provisions

752,022

794,802

F. Liabilities

24

2,842,755

2,688,674

G. Deferred tax liabilities

11

141,483

80,765

H. Other liabilities

25

259,688

81,708

Total LIABILITIES AND SHAREHOLDERS’ EQUITY

33,665,120

26,745,073