Profit and loss account

Profit and loss account
       (€ million) 31.12.2011 31.12.2010  
  1.1   Net earned premiums 62,738.5 65,726.5notenote
    1.1.1 Gross earned premiums 65,666.2 68,400.3  
    1.1.2 Earned premiums ceded -2,927.7 -2,673.8  
  1.2   Fee and commission income and income from financial service activities 1,414.3 1,324.2note
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  1.3   Net income from financial instruments at fair value through profit or loss -3,276.9 4,631.8notenote
       of which net income from financial instruments where the investment risk is borne by the policyholders and related to pension funds -3,162.6 3,822.9  
  1.4   Income from subsidiaries, associated companies and joint ventures 403.8 110.2notenote
  1.5   Income from other financial instruments and land and buildings (investment properties) 17,357.5 16,157.2notenote
    1.5.1 Interest income 10,607.3 10,207.7  
    1.5.2 Other income 2,176.3 2,094.6  
    1.5.3 Realized gains 4,372.6 3,647.6  
    1.5.4 Unrealized gains and reversal of impairment losses 201.3 207.3  
  1.6   Other income 2,363.5 2,829.2note
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    TOTAL INCOME 81,000.7 90,779.2  
  2.1   Net insurance benefits and claims -55,036.5 -67,720.0note
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    2.1.1 Claims paid and change in insurance provisions -56,828.0 -69,541.0  
    2.1.2 Reinsurers' share 1,791.5 1,821.0  
  2.2   Fee and commission expenses and expenses from financial service activities -480.9 -455.9note
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  2.3   Expenses from subsidiaries, associated companies and joint ventures -728.4 -23.9note
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  2.4   Expenses from other financial instruments and land and buildings (investment properties) -7,681.1 -4,034.7note
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    2.4.1 Interest expense -1,295.0 -1,237.1  
    2.4.2 Other expenses -414.0 -382.9  
    2.4.3 Realized losses -2,367.1 -1,305.0  
    2.4.4 Unrealized losses and impairment losses -3,605.0 -1,109.8  
  2.5   Acquisition and administration costs -11,984.0 -11,892.3note
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    2.5.1 Commissions and other acquisition costs -8,526.0 -8,423.9  
    2.5.2 Investment management expenses -127.2 -208.6  
    2.5.3 Other administration costs -3,330.8 -3,259.8  
  2.6   Other expenses -3,285.2 -3,815.6notenote
2
    TOTAL EXPENSES -79,196.1 -87,942.4  
       EARNINGS BEFORE TAXES 1,804.6 2,836.8  
3     Income taxes -651.8 -869.3notenote
       EARNINGS AFTER TAXES 1,152.8 1,967.5  
4
 
    RESULT OF DISCONTINUED OPERATIONS -0.1 50.8  
       CONSOLIDATED RESULT OF THE PERIOD 1,152.7 2,018.3  

    Result of the period attributable to the Group 856.1 1,701.9  
       Result of the period attributable to minority interests 296.6 316.4  
       EARNINGS PER SHARE:      
       Earnings per share (in €) 0.56 1.10  
       from continuing operation 0.56 1.10  
       Diluted earnings per share (in €) 0.56 1.10  
       from continuing operation 0.56 1.10