7.2.2Consolidated income statement
Consolidated income statement for the year ended 31 December
| (in € millions) | Note | 2023 | 2022 restated |
|---|---|---|---|
| Insurance contract revenue | 7.6.1 | 8,095 | 5,547 |
| Incurred claims and benefits | | -6,400 | -4,537 |
| Insurance service operating expenses | 7.6.11 | -1,227 | -1,050 |
| Insurance service expenses | 7.6.2 | -7,628 | -5,587 |
| Insurance service result before reinsurance | | 468 | -40 |
| Allocation of reinsurance premiums paid | | -560 | -110 |
| Amounts recoverable from reinsurers | | 532 | 86 |
| Net expenses from reinsurance contracts | 7.6.3 | -27 | -23 |
| Insurance service result | | 440 | -63 |
| | | | |
| Direct investment income | 7.6.4 | 4,633 | 1,708 |
| Net fair value gains and (losses) | 7.6.5 | 4,718 | -15,284 |
| Impairments on financial assets | 7.6.6 | -20 | - |
| Net finance expenses from insurance contracts | 7.6.7 | -5,205 | 11,903 |
| Net finance income from reinsurance contracts | 7.6.7 | -6 | -67 |
| Other finance expenses | 7.6.8 | -2,736 | -449 |
| Investment operating expenses | 7.6.11 | -216 | -70 |
| Investment and finance result | | 1,167 | -2,259 |
| | | | |
| Share of result of associates and joint ventures | | 8 | -3 |
| Fee income | 7.6.9 | 334 | 200 |
| Other income | 7.6.10 | 389 | 109 |
| Total other income | | 731 | 306 |
| | | | |
| Other expenses | 7.6.11 | -950 | -307 |
| Other income and expenses | | -218 | -1 |
| | | | |
| Result before tax | | 1,389 | -2,323 |
| | | | |
| Income tax (expense) / gain | 7.6.12 | -303 | 606 |
| 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 | | 48 | 48 |
| 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.