7.6.4Direct investment income
See accounting policy V3.
Direct investment income
| | 2023 | 2022 |
|---|---|---|
| Interest income from investments at FVTPL | 1,530 | 779 |
| Interest income from derivatives | 2,318 | 659 |
| Interest income from investments at FVOCI | 18 | - |
| Interest income from debt instruments at amortised cost | 340 | 1 |
| Total interest income | 4,205 | 1,439 |
| | | |
| Dividends received | 283 | 187 |
| Investment income related to direct participating insurance contracts | 10 | 10 |
| Rental income from investment property | 91 | 58 |
| Other direct investment income | 44 | 14 |
| Total dividend and other investment income | 428 | 269 |
| | | |
| Total direct investment income | 4,633 | 1,708 |
Interest income increased mainly due to the assets acquired through the acquisition of Aegon NL. In addition, more interest income from derivatives is recognised compared to last year due to increasing interest rates.
For equity instruments measured at FVOCI, dividends received during the year amount to € 72 million (2022: € 65 million), of which € 19 million (2022: € 8 million) relates to instruments derecognised during the year.
The effective interest method has been applied to an amount of € 357 million (2022: € 1 million) of the interest income from financial instruments not classified at FVTPL. Included within interest income is nil (2022: nil) of interest received on impaired fixed-income securities.