Segmented income statement and operating result| 2021 | Non-life | Life | Asset Management | Distribution and Services | Holding and Other | Eliminations | Total |
|---|
| Continuing operations | | | | | | | |
| | | | | | | | |
| Gross written premiums | 4,124 | 1,893 | - | - | - | -157 | 5,859 |
| Change in provision for unearned premiums | 16 | - | - | - | - | - | 16 |
| Gross insurance premiums | 4,140 | 1,893 | - | - | - | -157 | 5,875 |
| Reinsurance premiums | -98 | -1 | - | - | - | - | -99 |
| Net insurance premiums | 4,042 | 1,892 | - | - | - | -157 | 5,777 |
| | | | | | | | |
| Investment income | 142 | 1,422 | - | - | 10 | -4 | 1,571 |
| Realised gains and losses | 45 | 422 | - | - | 34 | -11 | 490 |
| Fair value gains and losses | 16 | 94 | - | - | -2 | 2 | 110 |
| Result on investments on behalf of policyholders | - | 1,636 | - | - | - | - | 1,636 |
| Result on investments related to investment contracts | - | 185 | - | - | - | - | 185 |
| Fee and commission income | 23 | 12 | 161 | 117 | - | -110 | 204 |
| Other income | 1 | 23 | - | 2 | 32 | -2 | 56 |
| Share of result of associates and joint ventures | - | 1 | - | 1 | 7 | - | 9 |
| Total income | 4,269 | 5,688 | 161 | 119 | 81 | -283 | 10,036 |
| | | | | | | | |
| Insurance claims and benefits | -3,079 | -3,986 | - | - | - | 219 | -6,846 |
| Insurance claims and benefits recovered from reinsurers | 23 | 7 | - | - | - | - | 29 |
| Net insurance claims and benefits | -3,056 | -3,980 | - | - | - | 219 | -6,817 |
| | | | | | | | |
| Changes in liabilities arising from investment contracts | - | -185 | - | - | - | - | -185 |
| Operating expenses | -269 | -173 | -102 | -94 | -137 | 51 | -725 |
| Restructuring provision expenses | -3 | -1 | - | - | - | - | -4 |
| Commission expenses | -564 | -19 | - | - | - | 57 | -526 |
| Impairments | -1 | -13 | - | -9 | - | - | -22 |
| Interest expense | -15 | -293 | -1 | -1 | -9 | -43 | -362 |
| Other expenses | -4 | -43 | -23 | -6 | -126 | 16 | -186 |
| Total expenses | -856 | -727 | -125 | -110 | -272 | 80 | -2,010 |
| | | | | | | | |
| Result before tax from continuing operations | 357 | 981 | 36 | 10 | -191 | 16 | 1,209 |
| | | | | | | | |
| Income tax (expense) / gain | -88 | -230 | -9 | -5 | 65 | -3 | -270 |
| Result after tax from continuing operations | 269 | 751 | 27 | 5 | -126 | 13 | 939 |
| | | | | | | | |
| Discontinued operations | | | | | | | |
| Result after tax from discontinued operations | - | - | - | - | - | - | - |
| | | | | | | | |
| Net result | 269 | 751 | 27 | 5 | -126 | 13 | 939 |
| | | | | | | | |
| Attributable to: | | | | | | | |
| Non-controlling interests | - | 1 | - | - | -4 | - | -3 |
| | | | | | | | |
| - Shareholders of the parent | 269 | 750 | 27 | 5 | -170 | 13 | 894 |
| - Holders of other equity instruments | - | - | - | - | 48 | - | 48 |
| Result attributable to holders of equity instruments | 269 | 750 | 27 | 5 | -122 | 13 | 942 |
Operating result| 2021 | Non-life | Life | Asset Management | Distribution and Services | Holding and Other | Eliminations | Total |
|---|
| Result before tax | 357 | 981 | 36 | 10 | -191 | 16 | 1,209 |
| minus: investment related | 54 | 208 | - | - | 32 | -3 | 291 |
| minus: incidentals | -22 | 11 | - | -18 | -93 | 18 | -104 |
| Operating result | 325 | 763 | 36 | 28 | -131 | 1 | 1,021 |
In 2021, incidentals are mainly related to results of the employee benefit pension scheme, amortisations of VOBA on the acquisitions of Loyalis and Veherex (see chapter 6.5.1), project costs for the implementation of IFRS 17 and IFRS 9 and start-up costs for innovations.
For more information see chapter 6.10.
Impairments| 2021 | | Non-life | Life | Asset Management | Distribution and Services | Holding and Other | Eliminations | Total |
|---|
| Intangible assets | Impairment | - | - | - | -9 | - | - | -9 |
| | Reversal | - | - | - | - | - | - | - |
| Investments | Impairment | -3 | -12 | - | - | - | - | -16 |
| | Reversal | 3 | - | - | - | - | - | 3 |
| Loans and receivables | Impairment | -28 | -2 | - | - | - | - | -31 |
| | Reversal | 28 | 2 | - | - | - | - | 30 |
| Total impairments | Impairment | -31 | -15 | - | -9 | - | - | -55 |
| | Reversal | 31 | 2 | - | - | - | - | 33 |
| | | | | | | | | |
| | Total | -1 | -13 | - | -9 | - | - | -22 |
Segmented income statement and operating result| 2020 | Non-life | Life | Asset Management | Distribution and Services | Holding and Other | Eliminations | Total |
|---|
| Continuing operations | | | | | | | |
| | | | | | | | |
| Gross written premiums | 3,643 | 1,810 | - | - | - | -177 | 5,276 |
| Change in provision for unearned premiums | 24 | - | - | - | - | - | 24 |
| Gross insurance premiums | 3,667 | 1,810 | - | - | - | -177 | 5,300 |
| Reinsurance premiums | -99 | -1 | - | - | - | - | -100 |
| Net insurance premiums | 3,568 | 1,810 | - | - | - | -177 | 5,200 |
| | | | | | | | |
| Investment income | 138 | 1,348 | - | 1 | 8 | -7 | 1,488 |
| Realised gains and losses | 64 | 333 | - | - | - | - | 396 |
| Fair value gains and losses | 15 | -64 | - | - | -2 | 2 | -49 |
| Result on investments on behalf of policyholders | - | 474 | - | - | - | - | 474 |
| Result on investments related to investment contracts | - | - | - | - | - | - | - |
| Fee and commission income | 24 | -1 | 145 | 71 | - | -91 | 149 |
| Other income | 8 | 14 | - | 27 | 32 | - | 81 |
| Share of result of associates and joint ventures | - | -1 | - | 1 | 4 | - | 4 |
| Total income | 3,816 | 3,913 | 145 | 99 | 42 | -273 | 7,743 |
| | | | | | | | |
| Insurance claims and benefits | -2,738 | -2,562 | - | - | - | 219 | -5,082 |
| Insurance claims and benefits recovered from reinsurers | 28 | 3 | - | - | - | - | 30 |
| Net insurance claims and benefits | -2,710 | -2,560 | - | - | - | 219 | -5,051 |
| | | | | | | | |
| Changes in liabilities arising from investment contracts | - | - | - | - | - | - | - |
| Operating expenses | -257 | -171 | -94 | -72 | -158 | 52 | -701 |
| Restructuring provision expenses | -2 | -4 | -1 | - | - | - | -7 |
| Commission expenses | -545 | -11 | - | - | - | 41 | -516 |
| Impairments | -21 | -128 | - | -27 | 9 | - | -167 |
| Interest expense | -13 | -233 | -1 | - | 39 | -123 | -331 |
| Other expenses | -8 | -60 | -19 | -5 | -63 | 13 | -141 |
| Total expenses | -846 | -606 | -115 | -105 | -174 | -17 | -1,862 |
| | | | | | | | |
| Result before tax from continuing operations | 261 | 747 | 30 | -6 | -132 | -71 | 829 |
| | | | | | | | |
| Income tax (expense) / gain | -61 | -146 | -8 | -6 | 30 | 18 | -172 |
| Result after tax from continuing operations | 200 | 601 | 23 | -12 | -101 | -53 | 657 |
| | | | | | | | |
| Discontinued operations | | | | | | | |
| Result after tax from discontinued operations | - | - | -2 | - | - | - | -2 |
| | | | | | | | |
| Net result | 200 | 601 | 21 | -12 | -101 | -53 | 656 |
| | | | | | | | |
| Attributable to: | | | | | | | |
| Non-controlling interests | - | - | - | - | -1 | - | -1 |
| | | | | | | | |
| - Shareholders of the parent | 200 | 601 | 21 | -12 | -148 | -53 | 609 |
| - Holders of other equity instruments | - | - | - | - | 48 | - | 48 |
| Result attributable to holders of equity instruments | 200 | 601 | 21 | -12 | -100 | -53 | 657 |
Operating result| 2020 | Non-life | Life | Asset Management | Distribution and Services | Holding and Other | Eliminations | Total |
|---|
| Result before tax | 261 | 747 | 30 | -6 | -132 | -71 | 829 |
| minus: investment related | 38 | 139 | - | - | 7 | 1 | 185 |
| minus: incidentals | -18 | -122 | -1 | -31 | 6 | -74 | -241 |
| Operating result | 241 | 730 | 31 | 25 | -144 | 2 | 885 |
In 2020, incidentals were mainly related to impairments of goodwill in the Life and Distribution and Services segments (see below). As a result of the agreed change of pension scheme in 2020, a past service cost of € -59 million pre-tax was recognised. Incidentals also consist of project costs for the implementation of IFRS 17 / 9 and amortisations of VOBA on the acquisitions of Loyalis and Veherex (see chapter 6.5.1).
Impairments| 2020 | | Non-life | Life | Asset Management | Distribution and Services | Holding and Other | Eliminations | Total |
|---|
| Intangible assets | Impairment | - | -90 | - | -27 | - | - | -117 |
| | Reversal | - | - | - | - | - | - | - |
| Investments | Impairment | -24 | -39 | - | - | - | - | -63 |
| | Reversal | 2 | - | - | - | - | - | 2 |
| Loans and receivables | Impairment | -7 | -4 | - | - | - | - | -11 |
| | Reversal | 9 | 4 | - | - | 9 | - | 23 |
| Total impairments | Impairment | -31 | -133 | - | -27 | - | - | -191 |
| | Reversal | 11 | 5 | - | - | 9 | - | 24 |
| | | | | | | | | |
| | Total | -21 | -128 | - | -27 | 9 | - | -167 |
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