Investments and underwriting provisions
Investments
In the property and casualty business, investments (including cash and cash equivalents) were EUR 6,633.86 million (-9.0%) as of 31 December 2014. Investments in the life insurance area (excluding unit-linked and index-linked life insurance investments) were EUR 23,245.75 million (+9.1%), and in the area of health insurance Vienna Insurance Group investments rose by 4.2% to EUR 1,261.92 million.
Underwriting provisions
Underwriting provisions in the property and casualty area rose 3.7% compared to 2013 to EUR 5,224.53 million. In life insurance, underwriting provisions were EUR 21,508.29 million (excluding underwriting provisions for unit-linked and index-linked life insurance) as of 31 December 2014, 8.4% above the figure for the previous year. In health insurance, underwriting provisions rose by 5.1%, to EUR 1,157.13 million.
Underwriting provisions for unit-linked and index-linked life insurance increased by 13.9%, from EUR 6,489.37 million in 2014 to EUR 7,392.42 million.
The actuarial reserve and the provision for outstanding claims are broken down by lines of business and maturities as follows:
Composition of actuarial reserve
| XLS Download |
|
31.12.2014 |
31.12.2013 |
in EUR million |
|
|
Property and casualty insurance |
0.13 |
0.14 |
Life insurance |
19,772.24 |
18,307.22 |
for guaranteed policy benefits |
17,728.65 |
17,300.27 |
for allocated and committed profit shares |
1,045.35 |
1,006.95 |
for deferred actuarial reserve |
998.24 |
0.00 |
Health insurance |
1,082.47 |
1,019.80 |
Total |
20,854.84 |
19,327.15 |
Maturity structure of actuarial reserve
| XLS Download |
|
31.12.2014 |
31.12.2013 |
in EUR million |
|
|
up to one year |
2,290.01 |
2,542.48 |
more than one year up to five years |
5,581.75 |
5,550.96 |
more than five years up to ten years |
4,353.77 |
2,923.10 |
more than ten years |
8,629.31 |
8,310.62 |
Total |
20,854.84 |
19,327.15 |
Composition of provision for outstanding claims
| XLS Download |
|
31.12.2014 |
31.12.2013 |
in EUR million |
|
|
Property and casualty insurance |
4,103.53 |
3,894.77 |
Life insurance |
334.22 |
310.25 |
Health insurance |
51.20 |
47.84 |
Total |
4,488.94 |
4,252.87 |
Maturity structure of provision for outstanding claims
| XLS Download |
|
31.12.2014 |
31.12.2013 |
in EUR million |
|
|
up to one year |
1,766.76 |
1,749.70 |
more than one year up to five years |
1,328.26 |
1,188.44 |
more than five years up to ten years |
404.28 |
389.22 |
more than ten years |
989.65 |
925.52 |
Total |
4,488.94 |
4,252.87 |