A related party is a person or entity that has significant influence over another entity, or has the ability to affect the financial and operating policies of the other party. Parties related to a.s.r. include associates, joint ventures, key management personnel, close family members of any person referred to above, entities controlled or significantly influenced by any person referred to above and any other affiliated entity.

The group regularly enters into transactions with related parties during the conduct of its business. These transactions mainly involve loans, deposits and commissions, and are conducted on terms equivalent to those that prevail in arm’s length transactions.

The remuneration of the key personnel is disclosed in chapter 6.7.5.

Positions and transactions between a.s.r., associates, joint ventures and other related parties

The table below shows the financial scope of a.s.r.’s related party transactions:

Associates;
Joint ventures.

Financial scope of a.s.r.’s related party transactions

	Associates	Joint ventures	Total
2022
Balance sheet items with related parties as at 31 December
Loans and receivables	37	8	45
Other liabilities	176	-	176

Transactions in the income statement for the financial year
Fee and commission income	74	-	74
Fee and commission expenses	1	-	1

Financial scope of a.s.r.’s related party transactions

	Associates	Joint ventures	Total
2021
Balance sheet items with related parties as at 31 December
Loans and receivables	21	12	33
Other liabilities	177	-	177

Transactions in the income statement for the financial year
Fee and commission income	57	-	57
Fee and commission expenses	1	-	1

No provisions for impairments have been recognised on the loans and receivables for the years 2022 and 2021.

The members of the EB and the Business Executive Committee (BEC) have mortgage loans with a.s.r. amounting to respectively € 435 thousand (2021: € 495 thousand) and € 1,099 thousand (2021: € 596 thousand). The mortgages have been issued subject to normal employee conditions. The employee conditions include limits and thresholds to the amounts that qualify for a personnel interest-rate discount. For mortgage loans higher than € 340 thousand arm’s length conditions apply. The average interest rate on the mortgage loans (for members EB and BEC) is 2.6% (2021: 2.4%). In 2022, the mortgage loans of EB members were settled for an amount of € 61 thousand (2021: € 61 thousand) and for BEC members for an amount of € 13 thousand (2021: € 79 thousand).