ING Direct 2004 Annual Report Download - page 130

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128 ING Group Annual Report 2004
Geographical analysis of the insurance and banking operations
OPERATING INCOME BY GEOGRAPHICAL AREA
Insurance Banking
operations operations Eliminations Total
2004 2003 2002 2004 2003 2002 2004 2003 2002 2004 2003 2002
Netherlands 11,520 11,745 10,965 5,372 5,270 4,982 13 71416,879 17,008 15,933
Belgium 2,875 2,947 2,640 2,255 2,012 2,044 5,130 4,959 4,684
Rest of Europe 1,814 1,844 2,031 3,265 2,997 2,773 5,079 4,841 4,804
North America 25,439 24,681 31,479 1,039 731 536 1 26,478 25,412 32,014
Latin America 2,671 2,908 3,940 115 162 315 2,786 3,070 4,255
Asia 8,673 6,532 6,623 311 376 436 8,984 6,908 7,059
Australia 1,814 1,892 2,168 180 132 107 1,994 2,024 2,275
Other 1,091 1,695 437 8 1,091 1,695 445
55,897 54,244 60,283 12,537 11,680 11,201 13 71568,421 65,917 71,469
Income between geographical areas(1) -499 -1,011 -834 108 160 2 -607 -1,171 -836
55,398 53,233 59,449 12,537 11,680 11,201 121 167 17 67,814 64,746 70,633
(1) Mainly related to reinsurance premiums ceded between group companies in different geographical areas.
OPERATING INCOME FROM THE INSURANCE OPERATIONS BY GEOGRAPHICAL AREA
Life Non-life
premiums premiums Investment
written written income (1) Total
2004 2003 2002 2004 2003 2002 2004 2003 2002 2004 2003 2002
Netherlands 5,823 5,582 4,927 1,693 1,847 1,859 4,004 4,316 4,179 11,520 11,745 10,965
Belgium 2,115 2,257 2,053 324 311 282 436 379 305 2,875 2,947 2,640
Rest of Europe 1,366 1,360 1,580 48 44 38 400 440 413 1,814 1,844 2,031
North America 17,922 17,037 22,162 2,741 2,944 3,069 4,776 4,700 6,248 25,439 24,681 31,479
Latin America 506 466 747 1,591 1,872 2,546 574 570 647 2,671 2,908 3,940
Asia 8,009 5,905 5,969 37 45 66 627 582 588 8,673 6,532 6,623
Australia 1,223 1,288 1,467 200 356 296 391 248 405 1,814 1,892 2,168
Other 14 12 3 142 337 385 935 1,346 49 1,091 1,695 437
36,978 33,907 38,908 6,776 7,756 8,541 12,143 12,581 12,834 55,897 54,244 60,283
Income between geographical areas(2) -3 -3 -9 -134 -468 -624 -362 -540 -201 -499 -1,011 -834
36,975 33,904 38,899 6,642 7,288 7,917 11,781 12,041 12,633 55,398 53,233 59,449
(1) Including commission and other income.
(2) Mainly related to reinsurance premiums ceded between group companies in different geographical areas.
OPERATING PROFIT BEFORE TAX BY GEOGRAPHICAL AREA
Insurance Banking
operations operations Total
2004 2003 2002 2004 2003 2002 2004 2003 2002
Netherlands 1,423 1,451 1,067 1,727 1,588 1,510 3,150 3,039 2,577
Belgium 128 109 74 713 478 613 841 587 687
Rest of Europe 182 231 155 351 -15 -311 533 216 -156
North America 1,438 1,008 1,123 483 110 -509 1,921 1,118 614
Latin America 231 302 307 41 118 74 272 420 381
Asia 314 235 245 38 38 314 273 283
Australia 437 176 329 99 60 55 536 236 384
Other -148 -26 -130 -6 -2 -148 -32 -132
4,005 3,486 3,170 3,414 2,371 1,468 7,419 5,857 4,638
ADDITIONAL INFORMATION RELATING TO THE
CONSOLIDATED PROFIT AND LOSS ACCOUNT OF
ING GROUP (continued)
2.1
ANNUAL ACCOUNTS