USD millions, unless otherwise stated |
Property & Casualty Reinsurance |
Life & Health Reinsurance |
Corporate Solutions |
Life Capital |
Group items |
Consolidation |
Total |
||
|---|---|---|---|---|---|---|---|---|---|
|
|||||||||
|
|
|
|
|
|
|
|
||
2018 |
|
|
|
|
|
|
|
||
Underwriting result |
|
|
|
|
|
|
|
||
Gross premiums and fees |
19 014 |
19 754 |
4 488 |
1 376 |
|
175 |
44 807 |
||
Gross premiums and fees growth rate, % |
6.1 |
3.3 |
6.7 |
4.7 |
|
|
7.1 |
||
Premiums and fees |
18 604 |
20 253 |
3 962 |
1 042 |
|
|
43 860 |
||
Premiums and fees retention rate, % |
97.8 |
102.5 |
88.3 |
75.7 |
|
|
97.9 |
||
Premiums and fees growth rate, % |
6.3 |
6.7 |
7.5 |
62.3 |
|
|
7.5 |
||
Claims and benefits |
–12 587 |
–14 141 |
–2 367 |
–809 |
|
|
–29 904 |
||
Commissions |
–4 644 |
–2 923 |
–617 |
–93 |
|
|
–8 278 |
||
Other |
62 |
–143 |
–9 |
286 |
89 |
|
286 |
||
Gross underwriting result – new business |
1 435 |
3 045 |
969 |
427 |
89 |
0 |
5 965 |
||
Expenses |
–1 301 |
–929 |
–880 |
–302 |
–211 |
|
–3 624 |
||
Net underwriting result – new business |
134 |
2 116 |
89 |
124 |
–122 |
0 |
2 341 |
||
Taxes |
–117 |
–388 |
–21 |
31 |
79 |
|
–415 |
||
Capital costs |
–447 |
–748 |
–148 |
–89 |
–137 |
|
–1 570 |
||
EVM profit – new business |
–430 |
980 |
–81 |
66 |
–179 |
0 |
356 |
||
EVM profit – previous years’ business |
698 |
168 |
–530 |
374 |
–72 |
0 |
638 |
||
EVM profit – underwriting |
268 |
1 148 |
–611 |
440 |
–251 |
0 |
993 |
||
Investment result |
|
|
|
|
|
|
|
||
Mark-to-market investment result |
1 046 |
–28 |
125 |
–137 |
–112 |
|
895 |
||
Benchmark investment result |
–707 |
–442 |
–164 |
–310 |
–77 |
|
–1 702 |
||
Gross outperformance (underperformance) |
339 |
–470 |
–39 |
–447 |
–189 |
0 |
–808 |
||
Other |
59 |
22 |
10 |
24 |
1 |
|
116 |
||
Expenses |
–90 |
–66 |
–17 |
–36 |
–44 |
|
–252 |
||
Net outperformance (underperformance) |
308 |
–513 |
–46 |
–460 |
–232 |
0 |
–943 |
||
Taxes |
–74 |
97 |
9 |
92 |
44 |
|
167 |
||
Capital costs |
–302 |
–209 |
–26 |
–165 |
–209 |
|
–911 |
||
EVM profit – investments |
–68 |
–625 |
–63 |
–533 |
–398 |
0 |
–1 686 |
||
EVM profit |
199 |
523 |
–673 |
–93 |
–649 |
0 |
–693 |
||
Cost of debt |
–58 |
–40 |
36 |
–2 |
–3 |
|
–67 |
||
Release of current year capital costs |
908 |
1 060 |
200 |
398 |
493 |
|
3 059 |
||
Additional taxes |
299 |
–272 |
–37 |
–38 |
–86 |
|
–133 |
||
Total contribution to ENW |
1 350 |
1 271 |
–474 |
265 |
–245 |
0 |
2 166 |
||
|
|
|
|
|
|
|
|
||
Profit margin – new business, % |
–3.1 |
8.2 |
–2.2 |
11.8 |
|
|
1.2 |
||
Profit margin – previous years’ business, %1 |
11.7 |
1.8 |
–36.4 |
23.1 |
|
|
3.5 |
||
Profit margin – investments, % |
–2.4 |
–19.4 |
–11.9 |
|
–16.5 |
|
–18.3 |
||