Varma - Annual Report 2012

Performance analysis
31 Dec, € million20122011201020092008
Sources of profit
Technical underwriting result-9.2-35.0145.111.673.9
Investment surplus at fair value1,189.4-1,378.01,874.02,151.1-4,318.0
+ Net investment income at fair value2,492.4-711.03,277.83,551.1-4,455.4
- Return requirement on technical provisions-1,303.0-667.1-1,403.9-1,400.1137.4
Loading profit21.235.335.422.736.6
Total result1,201.4-1,377.72,054.52,185.3-4,207.4
Appropriation of profit
To increase solvency1,123.4-1,450.71,965.42,124.3-4,244.4
Equalisation provision-12.6-38.1142.18.369.5
Solvency capital1,136.0-1,412.61,823.32,116.0-4,313.9
Change in provision for future bonuses-483.4-753.1-324.91,038.7-1,860.5
Change in difference between fair value and book value1,615.0-664.62,143.91,073.9-2,457.8
Change in accumulated appropriations0.00.00.00.00.0
Profit for the financial year4.35.04.33.34.4
Transfer to client bonuses78.073.089.061.037.0
Transfer to augment the provision for current bonuses0.00.00.00.00.0
Total1,201.4-1,377.72,054.42,185.3-4,207.4