Consolidated Balance Sheet as of December 31, 2022

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Assets
12/31/2022
EUR mn
12/31/2021
EUR mn
Change
Cash and cash equivalents 22,573 24,214 -6.8%
Financial assets carried at fair value through income 16,568 19,604 -15.5%
Investments 540,537 663,649 -18.6%
Loans and advances to banks and customers 125,900 124,079 1.5%
Financial assets for unit-linked contracts 141,024 158,346 -10.9%
Reinsurance assets 59,509 56,731 4.9%
Deferred acquisition costs 36,583 23,756 54.0%
Deferred tax assets 6,939 1,910 263.3%
Other assets 49,645 48,264 2.9%
Non-current assets and assets of disposal groups classified as held for sale 3,324 145 2,188.2%
Intangible assets 18,900 18,732 0.9%
Total assets 1,021,503 1,139,429 -10.3%

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Liabilities and equity
12/31/2022
EUR mn
12/31/2021
EUR mn
Change
Financial liabilities carried at fair value through income   15,902 20,891 -23.9%
Liabilities to banks and customers 18,077 15,468 16.9%
Unearned premiums 31,146 27,501 13.3%
Reserves for loss and loss adjustment expenses 91,267 86,974 4.9%
Reserves for insurance and investment contracts 569,052 632,061 -10.0%
Financial liabilities for unit-linked contracts 141,024 158,346 -10.9%
Deferred tax liabilities 1,131 5,626 -79.9%
Other liabilities 74,577 86,596 -13.9%
Liabilities of disposal groups classified as held for sale 3,098 0 n.a.
Certificated liabilities 9,046 10,788 -16.1%
Subordinated liabilities 11,940 10,956 9.0%
Total liabilities 966,261 1,055,207 -8.4%
Shareholders' equity 51,474 79,952 -35.6%
Non-controlling interests 3,768 4,270 -11.8%
Total equity 55,242 84,222 -34.4%
Total liabilities and equity 1,021,503 1,139,429 -10.3%

Consolidated Income Statements 2022

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2022
EUR mn
2021
EUR mn
Change
Gross premiums written 94,190 86,063 9.4%
Ceded premiums written -8,078 -7,567 6.8%
Change in unearned premiums (net) -2,200 -840 161.9%
Premiums earned (net) 83,912 77,656 8.1%
Interest and similar income 25,225 23,137 9.0%
Income from financial assets and liabilities carried at fair value through income (net) -12,618 -2,008 528.3%
Realized gains/losses (net) 12,098 9,423 28.4%
Fee and commission income 13,981 13,998 -0.1%
Other income 110 24 365.1%
Total income 122,708 122,230 0.4%
Claims and insurance benefits incurred (gross) -68,496 -62,926 8.9%
Claims and insurance benefits incurred (ceded) 5,672 5,804 -2.3%
Claims and insurance benefits incurred (net) -62,824 -57,121 10.0%
Change in reserves for insurance and investment contracts (net) -3,242 -13,716 -76.4%
Interest expenses -1,438 -1,159 24.0%
Loan loss provisions -5 -11 -52.6%
Impairments of investments (net) -6,521 -1,331 389.9%
Investment expenses -2,214 -1,962 12.8%
Acquisition and administrative expenses (net) -30,286 -31,422 -3.6%
Fee and commission expenses -5,201 -5,000 4.0%
Amortization of intangible assets -352 -307 15.0%
Restructuring and integration expenses -951 -666 42.8%
Other expenses -26 -15 69.4%
Total expenses -113,059 -112,710 0.3%
Income before income taxes 9,649 9,502 1.4%
Income taxes -2,467 -2,415 2.1%
Net income 7,182 7,105 1.1%
Net income attributable to:      
Non-controlling interests 444 495 -10.3%
Shareholders 6,738 6,610 1.9%

As of March 3, 2023 (release of the Annual Report 2022)

Note: Where past years' figures have been adjusted as a consequence of changes to accounting regulations or their application, these restatements are considered in the tables retroactively. Therefore the figures above may differ from the figures originally published in the Annual Reports and Interim Reports.