ING Direct 2002 Annual Report Download - page 67

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Annual Report 2002 · ING Group64
Financial information
BREAKDOWN INSURANCE PROVISIONS
GROSS REINSURANCE ELEMENT OWN ACCOUNT
2002 2001 2002 2001 2002 2001
Provision for life policy liabilities 125,945 129,420 5,085 8,511 120,860 120,909
Provision for profit sharing and rebates 778 745 2 778 743
Provision for unearned premiums and
unexpired insurance risks 4,186 4,351 845 969 3,341 3,382
Claims provision 7,197 7,016 807 1,124 6,390 5,892
Other insurance provisions 186 292 186 292
138,292 141,824 6,737 10,606 131,555 131,218
Insurance provisions for policies for which the
policyholders bear the investment risk and for
annual life funds 65,372 83,739 1,096 971 64,276 82,768
203,664 225,563 7,833 11,577 195,831 213,986
MOVEMENTS IN SHAREHOLDERS’ EQUITY
2002 2001
Shareholders’ equity 18,254 21,514
Opening balance 21,514 25,274
Revaluations after taxation -5,435 -3,766
Write-off of goodwill -1,176 -1,908
Net profit for the period 4,500 4,577
Dividend paid -1,969 -2,300
Exercise of warrants and options -2 163
17,432 22,040
Changes in ING Groep N.V. shares held
by group companies 822 -526
Closing balance 18,254 21,514
SHAREHOLDERS’ EQUITY
INSURANCE PROVISIONS