Economic highlights
Group highlights | Life segment | Non-life segment | Financial segment | Financial highlights | Social and environmental highlights
Group Highlights
(€ million) | 31.12.2011 | 31.12.2010 | Fourth quarter 2011 |
Fourth quarter 2010 |
---|---|---|---|---|
Gross written premiums(**) | 69,159.2 | 73,187.8 | 17,832.3 | 19,358.5 |
Change on equivalent terms (*) | -5.5% | |
-7.6% | |
Total expense ratio | 16.6% | 15.3% | 17.7% | 15.3% |
Change on equivalent terms (*) | 1.3 | |
2.3 | |
Consolidated operating result(***) | 3,927.6 | 4,076.6 | 827.2 | 943.9 |
Change on equivalent terms (*) | -3.7% | -12.4% | ||
Result of the period | 856.1 | 1,701.9 | 31.0 | 389.2 |
Change on equivalent terms (*) | -49.7% | -92.0% |

Life Segment
(€ million) | 31.12.2011 | 31.12.2010 | Fourth quarter 2011 |
Fourth quarter 2010 |
---|---|---|---|---|
Gross life written premiums(**) | 46,393.8 | 51,098.1 | 12,008.9 | 13,826.1 |
Change on equivalent terms (*) | -9.3% | |
-13.0% | |
Net cash inflows | 5,845.5 | 16,133.0 | -650.7 | 3,511.3 |
Change on equivalent terms (*) | -64.0% | |
-118.3% | |
NBV | 975.7 | 1,050.1 | n.a. | n.a. |
Change on equivalent terms (*) | -5.6% | |
n.a. | |
APE | 4,787.4 | 5,332.6 | 1,277.7 | 1,491.8 |
Change on equivalent terms (*) | -9.0% | |
-12.8% | |
Expense ratio - life segment | 11.6% | 10.4% | 12.6% | 10.4% |
Change on equivalent terms (*) | 1.2 | |
2.1 | |
Operating result - life segment | 2,541.7 | 3,025.9 | 563.6 | 724.1 |
Change on equivalent terms (*) | -16.0% | |
-0.2% | |

Non-life segment
(€ million) |
31.12.2011 | 31.12.2010 | Fourth quarter 2011 |
Fourth quarter 2010 |
---|---|---|---|---|
Gross non-life written premiums | 22,765.4 | 22,089.7 | 5,823.4 | 5,532.4 |
Change on equivalent terms (*) | 3.2% | |
6.1% | |
Combined ratio non-life segment | 96.5% | 98.8% | 96.4% | 99.0% |
Change on equivalent terms (*) | -2.3 | |
-2.5 | |
Expense ratio - non-life segment | 27.6% | 27.5% | 28.8% | 28.2% |
Change on equivalent terms (*) | 0.1 | |
0.6 | |
Loss ratio non-life segment | 69.0% | 71.3% | 67.6% | 70.8% |
Change on equivalent terms (*) | -2.3 | |
-3.1 | |
Operating result - non-life segment | 1,560.5 | 1,128.1 | 356.6 | 245.8 |
Change on equivalent terms (*) | 38.3% | 0.5% | |

Financial segment
(€ million) |
31.12.2011 | 31.12.2010 | 4Q 2011 | 4Q 2010 |
---|---|---|---|---|
Asset under management | 88.207,2 | 92.980,1 | n.a. | n.a. |
Change on equivalent terms (*) | 3,4% | |
n.a. | |
Cost income ratio | 73,2% | 70,5% | 79,9% | 74,1% |
Change on equivalent terms (*) | 2,7 | |
0,1 | |
Operating result - financial segment | 341,7 | 353,6 | 62,8 | 76,5 |
Change on equivalent terms (*) | -3,3% | |
-0,2% | |

Financial highlights
(€ million) | 31.12.2011 | 30.09.2011 | 31.12.2010 |
---|---|---|---|
Investments | 369,126.3 | 372,273.5 | 372,155.1 |
Insurance provisions (*) | 347,167.3 | 346,759.7 | 343,583.7 |
Shareholder's equity attributable to the Group | 15,485.6 | 15,846.4 | 17,489.8 |
Solvency I ratio | 117% | 118% | 132% |

Social and enviromental highlights
(€ million) | 31.12.2011 | 31.12.2010 | Change |
---|---|---|---|
Global Added Value | 12,737.2 | 13,632.7 | -6.6% |
Number of employees | 81,997.0 | 85,368.0 | -3.9% |
Allocation to community-benefit initiatives | 49.1 | 45.5 | 7.9% |
Per capita electrical energy consumption | 4,830.7 | 5,191.6 | -7.0% |
Paper consumption | 71,313.8 | 71,287.9 | 0.0% |
