ING Direct 2009 Annual Report Download - page 180

Effect of reinsurance on premiums written
Non-life Life Total
2009 2008 2007 2009 2008 2007 2009 2008 2007
Direct gross premiums written 1,746 4,920 6,062 27,421 37, 4 87 39,170 29,167 42,407 45,232
Reinsurance assumed gross premiums written 26 23 24 1,299 1,382 1,562 1,325 1,405 1,586
Total gross premiums written 1,772 4,943 6,086 28,720 38,869 40,732 30,492 43,812 46,818
Reinsurance ceded –70 –196 –306 –1,867 –1,802 –1,968 –1,937 –1,998 –2,274
1,702 4,747 5,780 26,853 37,0 67 38,764 28,555 41,814 44,544
Effect of reinsurance on non-life premiums earned
2009 2008 2007
Direct gross premiums earned 1,746 4,889 6,003
Reinsurance assumed gross premiums earned 26 20 24
Total gross premiums earned 1,772 4,909 6,027
Reinsurance ceded –68 –190 –326
1,704 4,719 5,701
See Note 43 ‘Underwriting expenditure’ for disclosure on reinsurance ceded.
37 INVESTMENT INCOME
Investment income by banking and insurance operations
Banking operations Insurance operations Total
2009 2008 2007 2009 2008 2007 2009 2008 2007
Income from real estate investments 157 196 252 63 75 80 220 271 332
Dividend income 46 84 70 172 646 750 218 730 820
203 280 322 235 721 830 438 1,001 1,152
Income from investments in debt securities 5,429 6,535 6,857 5,429 6,535 6,857
Income from loans
– unsecured loans 223 209 76 223 209 76
– mortgage loans 856 1,044 1,313 856 1,044 1,313
– policy loans 177 200 215 177 200 215
– other 101 92 323 101 92 323
Income from investments in debt securities and loans 6,786 8,080 8,784 6,786 8,080 8,784
Realised gains/losses on disposal of debt securities –945 40 138 –168 48 –9 –1,113 88 129
Impairments of available-for-sale debt securities –1,491 –2,127 –57 –584 –777 –76 –2,075 –2,904 –133
Realised gains/losses and impairments
of debt securities –2,436 –2,087 81 –752 –729 –85 –3,188 –2,816 –4
Realised gains/losses on disposal of equity securities 24 30 330 404 685 2,975 428 715 3,305
Impairments of available-for-sale equity securities –49 –331 –17 –360 –1,585 –36 –409 –1,916 –53
Realised gains/losses and impairments
of equity securities –25 –301 313 44 –900 2,939 19 –1,201 3,252
Change in fair value of real estate investments –588 –350 93 –125 –50 75 –713 –400 168
Investment income –2,846 –2,458 809 6,188 7,122 12,543 3,342 4,664 13,352
Reference is made to the ‘Risk management’ section for further information on impairments.
2.1 Consolidated annual accounts
ING Group Annual Report 2009
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Notes to the consolidated profit and loss account of ING Group (continued)