Investments and underwriting provisions

Investments

In the property and casualty business, investments (including cash and cash equivalents) were EUR 6,904.36 million (+4.1%) as of 31 December 2015. In life insurance, investments (excluding unit-linked and index-linked life insurance investments) totalled EUR 23,631.55 million (+1.7%). In the area of health insurance Vienna Insurance Group increased its investments by 1.2% to EUR 1,276.55 million.

Underwriting provisions

Underwriting provisions in the property and casualty area rose compared with 2014 by 1.6% to EUR 5,308.31 million. In life insurance, underwriting provisions were EUR 21,610.85 million (excluding underwriting provisions for unit-linked and index-linked life insurance) as of 31 December 2015, 0.5% above the figure for the previous year. In health insurance, underwriting provisions rose by 5.9%, to EUR 1,225.96 million.

Underwriting provisions for unit-linked and index-linked life insurance increased by 5.2% from EUR 7,392.42 million in 2014 to EUR 7,776.60 million in 2015.

The actuarial reserve and provision for outstanding claims are broken down by lines of business and maturities as follows:

Composition of actuarial reserve

in EUR million

31.12.2015

31.12.2014

Property and casualty insurance

0.12

0.13

Life insurance

19,919.06

19,772.24

for guaranteed policy benefits

18,155.09

17,728.65

for allocated and committed profit shares

932.81

1,045.35

for deferred actuarial reserve

831.16

998.24

Health insurance

1,149.21

1,082.47

Total

21,068.39

20,854.84

Maturity structure of actuarial reserve

in EUR million

31.12.2015

31.12.2014

up to one year

1,880.72

2,290.01

more than one year up to five years

5,628.95

5,581.75

more than five years up to ten years

4,427.30

4,353.77

more than ten years

9,131.42

8,629.31

Total

21,068.39

20,854.84

Composition of provision for outstanding claims

in EUR million

31.12.2015

31.12.2014

Property and casualty insurance

4,168.62

4,103.53

Life insurance

383.70

334.22

Health insurance

51.32

51.20

Total

4,603.65

4,488.94

Maturity structure of provision for outstanding claims

in EUR million

31.12.2015

31.12.2014

up to one year

2,093.22

1,766.76

more than one year up to five years

1,499.43

1,328.26

more than five years up to ten years

495.66

404.28

more than ten years

515.34

989.65

Total

4,603.65

4,488.94