2023 annual report
7.2.2Consolidated income statement
Consolidated income statement for the year ended 31 December
(in € millions)Note20232022
restated
Insurance contract revenue7.6.18,0955,547
Incurred claims and benefits​-6,400-4,537
Insurance service operating expenses7.6.11-1,227-1,050
Insurance service expenses7.6.2-7,628-5,587
Insurance service result before reinsurance​468-40
Allocation of reinsurance premiums paid​-560-110
Amounts recoverable from reinsurers​53286
Net expenses from reinsurance contracts7.6.3-27-23
Insurance service result​440-63
​​​​
Direct investment income7.6.44,6331,708
Net fair value gains and (losses)7.6.54,718-15,284
Impairments on financial assets7.6.6-20-
Net finance expenses from insurance contracts7.6.7-5,20511,903
Net finance income from reinsurance contracts7.6.7-6-67
Other finance expenses7.6.8-2,736-449
Investment operating expenses7.6.11-216-70
Investment and finance result​1,167-2,259
​​​​
Share of result of associates and joint ventures​8-3
Fee income7.6.9334200
Other income7.6.10389109
Total other income​731306
​​​​
Other expenses7.6.11-950-307
Other income and expenses​-218-1
​​​​
Result before tax​1,389-2,323
​​​​
Income tax (expense) / gain7.6.12-303606
Net result​1,086-1,717
​​​​
Attributable to:​​​
Non-controlling interests​--8
​​​​
- Shareholders of the parent​1,038-1,757
- Holders of other equity instruments​4848
Result attributable to holders of equity instruments​1,086-1,709

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

The comparative figures for 2022 have been restated (see chapter 7.3.1). Where applicable, in accordance with IFRS, comparative figures have been included in the new presentation format to ensure comparability.

Basic and diluted earnings per share
(in €)Note20232022
restated
Basic earnings per ordinary share7.5.115.80-12.83
Diluted earnings per ordinary share7.5.115.26-10.97