ING Direct 2011 Annual Report Download - page 138

12 OTHER ASSETS
Other assets by type
2011 2010
Reinsurance and insurance receivables 1,971 2,201
Deferred tax assets 2,801 3,425
Property development and obtained
from foreclosures 1,584 2,153
Income tax receivable 542 527
Accrued interest and rents 14,387 16,19 4
Other accrued assets 2,200 2,888
Pension assets 3,762 3,458
Other 3,769 5,623
31,016 36,469
Other includes EUR 1,840 million (2010: EUR 1,875 million) related to transactions still to be settled at balance sheet date.
Disclosures in respect of deferred tax assets and pension assets are provided in Note 21 ‘Other liabilities’.
Accrued interest and rents includes EUR 6,388 million (2010: EUR 7,113 million) accrued interest on assets measured at amortised cost
under the IAS 39 classification Loans and receivables.
The total amount of borrowing costs relating to Property development and obtained from foreclosures, capitalised in 2011 is EUR 7 million
(2010: EUR 18 million).
Reinsurance and insurance receivables
2011 2010
Receivables on account of direct insurance from
– policyholders 1,238 1,272
– intermediaries 67 108
Reinsurance receivables 666 821
1,971 2,201
The allowance for uncollectible reinsurance and insurance receivables amounted to EUR 66 million as at 31 December 2011 (2010: EUR 52
million). The allowance is deducted from this receivable.
Property development and obtained from foreclosures
2011 2010
Property under development 400 821
Property developed 1,055 1,024
Property obtained from foreclosures 129 308
1,584 2,153
Gross carrying amount as at 31 December 2,720 3,240
Accumulated impairments as at 31 December –1,136 –1,087
Net carrying value 1,584 2,153
Notes to the consolidated annual accounts of ING Group continued
136 ING Group Annual Report 2011