a.s.r. annual report 2022

Consolidated income statement for the year ended 31 December

(in € millions)	Note	2022	2021
Gross written premiums	6.6.1	6,041	5,859
Change in provision for unearned premiums		-4	16
Gross insurance premiums		6,037	5,875
Reinsurance premiums		-114	-99
Net insurance premiums		5,923	5,777

Investment income	6.6.2	1,732	1,571
Realised gains and losses	6.6.3	-288	490
Fair value gains and losses	6.6.4	38	110
Result on investments on behalf of policyholders		-1,943	1,636
Result on investments related to investment contracts		-351	185
Fee and commission income	6.6.5	247	204
Other income	6.6.6	144	56
Share of result of associates and joint ventures		-3	9
Total income		5,500	10,036

Insurance claims and benefits		-2,984	-6,846
Insurance claims and benefits recovered from reinsurers		64	29
Net insurance claims and benefits	6.6.7	-2,919	-6,817

Changes in liabilities arising from investment contracts		351	-185
Operating expenses	6.6.8	-779	-725
Restructuring provision expenses		-4	-4
Commission expenses		-589	-526
Impairments	6.6.9	-95	-22
Interest expense	6.6.10	-447	-362
Other expenses	6.6.11	-90	-186
Total expenses		-1,652	-2,010

Result before tax		929	1,209

Income tax (expense) / gain	6.6.12	-204	-270
Net result		725	939

Attributable to:
Non-controlling interests		-8	-3

- Shareholders of the parent		685	894
- Holders of other equity instruments		48	48
Result attributable to holders of equity instruments		733	942

The numbers following the line items refer to the relevant chapters in the notes.

Earnings per share

(in €)	Note	2022	2021
Basic earnings per ordinary share	6.5.13	5.00	6.56
Diluted earnings per ordinary share	6.5.13	4.42	5.77