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OUTLOOK GROUP MANAGEMENT REPORT Chap. 2
2007 2008 2009/2010
Premium development life +3.6% growth above market level growth above market level
Premium development health +4.6% growth above market level growth above market level
Premium development property/casualty +1.6% growth at market level growth at market level
New business value1 175 m
continuous rise in
subsequent years
continuous rise in
subsequent years
Combined ratio2 95.3% <96% against market cycle <95% against market cycle
Total expenses3 1,744 m < 1,700 m
< 1,600 m (despite
above-average growth)
Group net profit under IFRS4 417 m > 450 m
2009: 500 m
2010: 550 m
Group targets 20082010
1 life and health insurance; acc. to McEV, after capital cost
2 combined ratio in property and casualty insurance; starting from 2008 without consideration of extraordinary claims
3 without commissions and one-off restructuring costs
4 2007 figure without extraordinary items due to tax-rate change; 20082010 targets before goodwill amortization