Machine Translation of "Notice Of Financial Reports For Insurance Companies And Lateral Pension Funds" (Denmark)

In accordance with section 188 (4), 3, section 196 and section 373, paragraph 1. 4, in the law of financial activities, cf. Law Order no. 1125 of 23. September 2010, as amended by law no. 1556 of 21. In December 2010 :

Section I

Scope of application

Chapter 1

They covered business and reports

§ 1. This notice shall apply to the following undertakings :

1) Insurance companies.

2) Pension funds covered by the Act of financial activities (transverse pension funds).

3) Companies whose business is exclusively or mainly consists of owning capital shares in insurance undertakings.

Paragraph 2. Undertakings which choose to submit financial reports in accordance with the international accounting standards drawn up by the International Accounting Standards Board and approved by the Commission, cf. § 183, paragraph 1. 4, in the field of financial activities, is covered solely by the provisions relating to matters not governed by the aforementioned international accounting standards.

Paragraph 3. Interdisciplinary pension funds shall use the concepts listed in Annex 6 instead of the terms set out in the notice of the notice.

§ 2. Businesses covered by Section 1 (1). 1, for each financial year, prepare and publish an annual report, cf. Section 183 of the Act of Financial Business, and a half-yearly report. The annual and half-yearly report shall contain the group accounts if it is followed by sections 133-135.

Paragraph 2. The annual and semi-annual report shall be drawn up in Danish. However, in exceptional cases, according to the authorisation of the Financial supervision, they may be replaced by a different language.

§ 3. A financial statement that a company is preparing exclusively for its own use is not an annual report or a half-yearly report following that notice. Dees a business a financial statement that is not an annual report or a semiannual report following this notice or following international accounting standards, cf. Section 1 (1). It may not be referred to as a yearly report or half-yearly report, and it must also appear in the form and content of such a way that it could not be confused with a financial statement following this notice or by international accounting standards.

TITLE II

Annual report

Chapter 2

Classification and Setting

General provisions

§ 4. Balance and profit and loss account must be drawn up in schematic form in accordance with the Annexes 2-4.

Paragraph 2. The entries in Annexes 2, 3 and 4 shall be entered separately and in the order indicated in the order. If the structure of the storage tables is maintained, a more detailed breakdown may be made if the amount in the new sub-post is essential and if the nature or function of the subitem is different from other items. New items may be added if the amount of such material is essential and if the nature or function of the new item is different from the other items.

Paragraph 3. Items that contain only insignificant amounts may be combined with other items of the same type or function. This shall not apply to subheadings to the following items :

1) Appendix 2 : Items below III. Provisions for insurance and investment contracts on the passivside of the balance sheet.

2) Appendix 3 : For item 1 . Introdumier f.e.Sir, i alt , mail 5. Insurance services for example, sir, in total and mail 6. Change in life assurance for example, sir, in total in the profit and loss account.

3) Appendix 4 : For item 1. Pre-mieRevenue f.sir, total and mail 3. Substitution Expense, for example, in total in the profit and loss account.

§ 5. In each item in balance, profit and second total income, the corresponding amount for the previous financial year shall be accompanied by an equivalent view of the previous year before. If the items are not directly comparable with previous year's records, the latter must be adapted. However, the company may refrain from adjusting comparison figures if it is not practicable. Lack of comparability or adjustment must be stated and duly justified in the notes on the accounts, cf. § 90.

Paragraph 2. Posts in balance sheet and profit and loss account which do not contain any amounts shall be included only if the preceding annual accounts contain such a record.

Paragraph 3. Paraglications 1 and 2 shall apply mutatis muted to notes information, unless otherwise specified in this notice.

Balance

Common provisions

§ 6. Underneath Asset Mail 1. Operating Fund the material fixed assets, except for reasons and buildings, and assets in temporary holding, cf. § 10. The mail also includes assets derived from financial leases at leases and assets derived from operational leases in leasing. In addition, the mail comprises the entry-enabled costs of leased premises.

§ 7. Under the Asset entries 4 .2. Loans to affiliated undertakings and 4.4. Loans for affiliated undertakings the responsible loan capital and other long-term loans to the undertakings concerned shall be charged. Other claims owed to the undertakings concerned shall be entered under item 10 or asset item 11 or under any other item under which the claims are the responsibility of the holder of the contract. Inserts among the assets locations in affiliated or associated undertakings which are not listed under items 4, 10 or 11, this must be reported in a note with the amount of the amount.

§ 8. Asset 6 . Reinsurance deposits are used by undertakings operating indirect insurance and are used for the amounts due under reinsurance contracts held by cedents. The mail shall not be entered in the post of assets owned by the reinsurance undertaking and laid down for the requirements of cedenceal security.

§ 9. Under Asset Item 7 . Reinsurance shares of technical provisions, total are the amounts which the undertaking expects to receive from reinsurance in accordance with the reinsurance contracts entered.

§ 10. Underneath Asset Mail 13. Assets in Temporary Tenure material fixed assets or groups of material fixed assets and subsidiaries and affiliated undertakings which are only temporary in their possession and waiting for sale within a short period of time, and where a sale is very likely. A sale is very likely, if

1) corporate management actively seeks a buyer for the assets,

2) the assets are offered at a price that is in a reasonable proportion to the value of the assets, and

3) The assets are expected to be sold within 12 months.

§ 11. Underneath passivmail II. Accountenance of loan capital debt commitments (if any). in the case of the issue of securities, on which it is applicable that the creditor ' s claim resides in respect of all other creditor requirements ; in the post, membership accounts shall be entered in cross-disciplinary pension funds and mutual insurance undertakings.

§ 12. Expenditure incurred before the balance-sheet date but which relate to the following years shall be recorded during the period of demarcation of assets in the assets. Revenue which have been concluded before the balance sheet date but which relate to the following years shall be recorded during the period demarcation items in the passives. This does not apply, however, to the award of premiums, unless the insurance period begins after the closure of the financial year.

Paragraph 2. Expenditure, however, not insurance benefits which relate to the financial year but will not be paid until the subsequent years shall be paid in debt. Revenue relating to the financial year, but which are only paid after the balance-sheet date, must be shown in the accounts receipts. However, accrued, undue interest and earned, unforfeit rent shall be shown under asset mail 18. interest-rate interest and rent .

Paragraph 3. Where the expenditure or revenues referred to in paragraph 1 are referred to in paragraph 1. 1 and 2 are of major importance, they must be explained in the notes on the accounts.

§ 13. Underneath passivmail LV. Total Commitable Responsibilities any obligations that are not certain as regards the size or time of running, cf. sections 72 and 73 and section 76 (3). 2.

Paragraph 2. Commitment commitments may not be used to regulate the value of assets.

§ 14. Passive mail V. Reinsurance deposits be used by cedences to the amounts due which the undertaking has withheld or received from reinsurance in accordance with reinsurance contracts. The mail shall not be entered into, owned by reinsurance, owned by reinsurance and are required to ensure the company ' s requirements.

Life insurance

§ 15. Underneath passivmail 9. Life Insurance Provisions Total be shown under post 9.1. Guaranteed benefits obligations to pay benefits guaranteed under the insurance and investment contracts, except for the part of that which is under Claims for claims Under Mail 9.2. Bonus potential in future premiums be shown for bonuses insurance and investment contracts to provide bonuses with regard to the agreed non-overdue premiums. Under Mail 9 .3. Bonus potential on free policeservices be shown for bonuses insurance and investment contracts to provide bonuses for the premiums already paid, etc.

§ 16. Underneath passivmail 10. Claims for claims are to be brought in due insurance services. The amount shall include an estimate of insurance payments for not yet notified insurance events, which would be overdue for the financial year, if the case had been notified and completed.

§ 17. Underneath passivmail 11. Collective Bonus Potential , cf. section 67, obligations shall be made to pay bonuses beyond the amount of the bonus which has been added ; the life assurance provision ; .

§ 18. Undertakings which have insurance and investment contracts linked to investment funds (Class III) in their insurer shall conduct the obligations of these contracts under the passivship ; 14. Provisions for unit-linked contracts on the passivside of the balance sheet.

Paragraph 2. The investment assets associated with the contracts referred to in paragraph 1 shall be as set out in paragraph 1. 1, collectively under asset mail LV. Investments associated with unit-contracts The assets are specified according to the nature of the balance sheet or in a note.

Paragraph 3. It shall be stated in a note on insurance and investment contracts covered by paragraph 1. 1 is the sign with a guarantee based on a certain minimum instalment and, where appropriate, the size of this one. In the company, both contracts are based on a minimum instalment and contracts which are not based on a minimum instalment subject to paragraph 1. 1, in a note, a monetary distribution of liabilities item (liabilities) 14. Provisions for unit-linked contracts the types of investment assets specified in paragraph 1, in the different types, of the types of insurance associated with the investment assets. 2.

§ 19. Underneath passivmail 13. Special Farusheners be shown bonuses that meet the criteria in order to be included in the base capital according to the law of financial activities.

Insurance Insurance

20. Underneath passivmail 8 . Premiehensions the commitments and amounts to cover costs relating to non-elapsed parts of the risk periods for the non-life insurance contracts concluded by the undertaking, cf. § 69.

§ 21. Underneath passivmail 10 . Claims for claims the amount to cover subsequent payments and costs for the insurance activities in the financial year or earlier, cf. § 70.

Score statement

Common provisions

§ 22. Under the post. Income from affiliated undertakings it shall be entered into the capital shares corresponding to the income from affiliated undertakings in the form of dividending and value regulation.

Paragraph 2. Under the post. Income from affiliated undertakings it shall be entered into the capital shares corresponding to the income from affiliated undertakings in the form of goods and value regulation.

Paragraph 3. Under the post. Investes on investment outlet the profits or deficits shall be shown in the operation of the company ' s investment outlet. The amount shall be entered after deduction of property management costs and before deduction of the priority interest rates entered in the post Interest Expense The value of the investment in the value of investment shall not be entered in the mail ; Investes on investment outlet but under the mail? CursAdjustments .

Paragraph 4. Under the post. Interest income and yield and so on. interest and interest-like income of debt securities, other securities, loans, deposits, loans and receipts, including index adjustment of index bonds. The yield of capital shares shall also be recorded unless the amounts are covered by the postal services ; Income from affiliated undertakings and Income from affiliated undertakings .

Paragraph 5. Under the post. CursAdjustments the total value regulation, including exchange rate adjustment, and net gains and net losses in the sale of domictable property and assets falling within the group of investment assets in the balance sheet. Exempted from here is value adjustments related to affiliated and associated companies, cf. paragraph 1 and 2, as well as exchange rate adjustment of goodwill, which is to be included directly in the own funds, cf. § 42, paragraph. Seven and eight.

Paragraph 6. Under the post. Investment business management costs the costs incurred in trade and management of the investment assets of the undertaking, cf. however, paragraph 1 3.

-23. Under the main post Insurance operating expenses For example, sir, in total the costs associated with acquiring and managing the company ' s stock of insurance and investment contracts, including the corresponding proportion of staff costs, commissions, marketing costs, rent, operating costs relating to domicilejendous, stationery and office and of-and depreciation of material and intangible assets, except depreciation of goodwill, cf. § 142.

Paragraph 2. The proportion of the cost of the insurance operations to be applied to the acquisition and renewal of the stock of insurance and investment contracts shall be entered in the post ; Acquisition costs .

Paragraph 3. If the undertaking has been granted the acquisition and / or administrative tasks for affiliated undertakings, which are charged on a cost-wide basis, the payment received may be shown as a deduction in the main post. The fraception shall be shown under a separate subheading (hereinafter called) Reimbursement from affiliated undertakings.

§ 24. Under the main posts Other revenue / costs the revenue and costs of the agency ' s undertaking, other ancillary activities, administration for other companies and other revenue and costs which may not be attributable to the insurer ' s insurer ' s ; or investment assets. However, the income and costs of administration for affiliated undertakings may be entered in the post ; Insurance operating expenses f.e.r , cf. Section 23, paragraph 1. 3. the amounts are below the posters Other revenue / costs of major importance, must be explained in a note.

§ 25. Under the main post Tax the tax to be borne by the result of the year, cf. However, § 34.

Life insurance

SECTION 26. Under Submail 1.1. Gross premiums the amounts for direct and indirect insurance contracts that have occurred during the financial year, together with a premium on investment contracts, with a right to a bonus. Gross premiums are recorded with deductions of the rigrandised premium amount and exclusivity charges, together with the public authorities. In the case of coassurance, the proportion of the total premium that relates to the company is included.

Paragraph 2. Under Submail 1.2. Disclosed Insurance Premier the amount of the insurance undertaking in respect of the financial year has been paid or has been reinsurance undertakings responsible for reinsurance cover.

Paragraph 3. Under the main post 1. Introdumier f.e.Sir, i alt the result of items 1.1 and 1.2 shall be shown.

§ 27. Under Master Mail 3. Pension Tax Tax the pensioner ' s income tax, which is based on the return on the profit of the profit, whether or not the tax is current or must be paid only in subsequent periods.

§ 28. Under Submail 5.1. Paid benefits are the amounts for the direct insurance contracts and investment contracts with a right to a bonus in the accounting year ;

1) Insurance sums for death,

2) an insurance sum of critical disease ;

3) insurance sums on invalidity,

4) the amount of insurance in the end

5) pension and interest services ;

6) withdrawals,

7) in cash paid out of bonuses and

8) insurance premiums

and benefits paid to cedences for the company ' s indirect insurance contracts.

Paragraph 2. Paragraph 1, no. 8 shall include insurance premiums paid by the company to other insurance undertakings for insurance cover for insurance operators. In addition to the provisions of paragraph 1, In the case of item 5.1, expenditure for re-examination and health care costs may be incurred in the case of insured persons when the expenditure is incurred in order to avert an invalidity allowance in the specific case.

Paragraph 3. Under Submail 5.2. Received Reinsurance Recovery the amounts received or receipts from the company ' s re-insurers to cover insurance services in accordance with reinsurance contracts.

Paragraph 4. Under Submail 5.4. Change in reinsurance portion of claims for claims the difference between the amount of the gross compensation claims may be attributable to the reinsurance cover at the end of the accounting year and at the beginning of the accounting year.

Paragraph 5. Under the main post 5. Insurance services for example, sir, in total the result of the subpolists 5.1. -5.4.

§ 29. Under Submail 6.1. Change in life assurance provision the difference between the value of life assurance claims at the beginning of the financial year and the end, except for the part thereof relating to the payment of investment contracts, without any credit for payment, shall be recorded. In undertakings which do not apply section 30 (5). 2, item 6.1, with deduction of the part of the change, which is the signing bonus of the year.

Paragraph 2. Subpost 6.1. Change in life assurance provision be specified in a note of the changes to the sub-items to which the life assurance provision is divided into the balance.

-$30. Under Submail 7.1. Signed bonus of the year the bonus of the year allocated to the policyholders is shown by increasing the guaranteed benefits.

Paragraph 2. Undertakings which are regularly attributing bonuses after a prior to the accounting year shall not be used to make use of item 7.1. In that case, item 7 is referred to as item 7. Amendment to collectively bonus potential and / or special bonus provision without subdivision.

§ 31. Under Master Mail 10. Inherit ROI be deducifed from the investment return on the capital of own funds and the business of the company ' s sick and accident-insurance business.

§ 32. Under Mail II. Insurance / accident insurance (s) the result of the business ' s disease and accident-insurance business. The mail shall be specified in a note in accordance with the results of the indemnication of indemnification, points 1 to 6 of Annex 4, and a further item of mail ; Return on investment where the total of the total investment return on the sick and accident insurance undertaking, including the part of changes in claims for claims and reinsurance, of claims for claims and reinsurance in respect of compensation for claims and changes shall be recorded in the case of the accident insurance undertaking. premium provisions and reinsurance shares of premiums for sickness and accident insurance undertakings which may be attributed to currency conversion differences and changes in the rate of disc used. The return on investment shall be entered in accordance with the deduction of the interest-rate interest rate, cf. § 36.

§ 33. Under Master Mail 11. Investment return on capital is shown to be the proportion of the return on investment relating to the own funds.

§ 34. In non-corporate taxable companies, they shall be shown under the heading of the general post ; 14. Tax the proportion of the pension tax which may be placed on the own funds. In that case, the mail shall be called Pension tax return tax for own funds .

Damage Insurance

$35. Under Submail 1.1. Gross premiums the amount received by the insurance undertaking for the financial year has been received or received for direct and indirect insurance contracts where the period prior to the closure of the financial year has been started. Gross premiums are recorded in the deduction of the premium, bonuses and premiums paid by policyholders independently of the damage flow, and the deduction of levies to public authorities charged with the premiums. In the case of coassurance, the proportion of the total premium that relates to the company is included.

Paragraph 2. Under Submail 1.2. Disclosed Insurance Premier the amount paid to or has been reinsurance undertakings responsible for reinsurance cover has been paid up for the financial year.

Paragraph 3. Under Submail 1.3. Change in premium provisions is to be shown the difference between the gross premiums for the beginning and end of the accounting year, cf. 20.

Paragraph 4. Under Submail 1.4. Change in reinsurance share of premium provisions the difference between the proportion of the premium provisions which may be attributing to reinsurance cover at the beginning and end of the accounting year shall be shown.

Paragraph 5. The proportion of the difference in accordance with paragraph 1. 3 and 4, which may be attributed to currency conversion differences and changes in the rate of disc used, shall not be recorded under items 1.3 and 1.4., but under mail 6 .5. CursAdjustments , cf. Section 22 (2). 5, or below the post Return on investment , cf. § 32.

Paragraph 6. If the provisions are discharged, cf. ~ 69, paragraph. 4, the proportion of the difference shall be recorded in accordance with paragraph 1. 3 and 4 which may be applied to the dilation, not under items 1.3 and 1.4, but are included in mail ; 2. Insurance and sanitary interest , cf. § 36, paragraph. 3.

Paragraph 7. Under the main post 1. Pre-mieRevenue f.sir, total the result of the subpotots 1.1. -1.4.

§ 36. Under Master Mail 2. Insurance and sanitary interest for the average amount of the year ' s average technical provisions for the year, for example, the year ' s income is recorded, As interest rates, they shall be used according to Annex 8, on average over the financial period, to the expected deviation time of the referrers. A corresponding amount is deduulled under post 7. Provision of technical provisions .

Paragraph 2. Where the technical provisions are not discounted, the interest rates referred to in paragraph 1 may be available instead of the interest rates referred to in paragraph 1. 1, a interest rate corresponding to the average of the average rate of the Copenhagen stock exchange at the end of each month of the financial year in the financial year shall be used before the taxation of all debt securities with a residual duration of less than 3 years. In the case of sick-and accident-insurance activities covered by pension taxes, the same average plumgas interest shall be applied, but reduced by tax rates in accordance with the Pension of Pension Taxation Act. An amount equal to the calculated return on return is dedugated under post 7. Provision of technical provisions .

Paragraph 3. When the technical provisions were discharged at dilation, cf. ~ 69, paragraph. 4, and section 70 (3). 4, the part of the increase in the translations, for example, may be attributed to the dilation in the amount under item mail ; 2. Insurance and sanitary interest .

Paragraph 4. In companies operating indirect business, the part of the technical provisions which are matched by genetic insurance deposits shall not be part of the calculation basis in accordance with paragraph 1. 1. The interest of the Year of the Year of the reinsurance deposits shall be included in the amount under item item ; 2. Insurance and sanitary interest .

Paragraph 5. Mail 2. Insurance and sanitary interest shall be explained and specified on the amounts obtained in accordance with paragraph 1. 1, 3 and 4 of a note.

§ 37. Under Submail 3.1. Repaid Replacement the amounts paid for insurance claims for the financial year. The amount shall contain internal and external costs for inspection and assessment of the damage, expenditure on the control and reduction of the damage caused, as well as other direct and indirect costs associated with the treatment of the damage caused by implosion. Paid replacements shall be entered after deduction of amounts received as a result of the undertaking ' s inheritance of insured values or entry into the rights of the insured in the payment of the claims.

Paragraph 2. Under Submail 3.2. Received Reinsurance Recovery the amount received from the company ' s reinsurance payments to cover deposited damages in accordance with reinsurance contracts shall be entered in the financial year.

Paragraph 3. Under Submail 3.3. Change in Claims Claims the difference between the claims for damages at the end of the accounting year and the beginning of the accounting year, cf. § 21.

Paragraph 4. Under Submail 3.4. Change in reinsurance portion of claims for claims the difference between the proportion of the replacement claims may be placed on the reinsurance cover at the end of the accounting year and the beginning of the accounting year.

Paragraph 5. The proportion of the difference in accordance with paragraph 1. 3 and 4, which may be attributed to currency conversion differences and changes in the rate of disc used, shall not be recorded under items 3.3 and 3.4, but under mail 6 .5. CursAdjustments , cf. Section 22 (2). 5, or below the post Return on investment , cf. § 32.

Paragraph 6. If the provisions are discharged, cf. Section 70 (3). 4, the proportion of the difference shall be recorded in accordance with paragraph 1. 3 and 4 which may be applied to the dilation, not under items 3.3 and 3.4, but are included in mail ; 2. Insurance and sanitary interest , cf. § 36, paragraph. 3.

Paragraph 7. Under the main post 3. Substitution Expense, for example, in total the result of the subpotots 3.1. -3.4.

§ 38. Under Master Mail 4. Bonus and premium rates where the amount of the premium paid or repaid to policyholders shall be shown when the amount of the refund is determined on the basis of the damage to the financial year on the individual insurance contract or a stock of : the insurance contracts based on criteria laid down prior to the opening of the accounting year or by drawing up the contract of insurance contracts.

Ghosts on own funds

§ 39. Movement on the own funds shall show :

1) The total total income of the sum of the results for the period and the second total income.

2) The effect of changes in the accounting practice and error corrections for each item under the own funds, cf. § § 84 and 86.

3) For each item under own funds, the amount shall be shown at the beginning of the period and at the end of the period on the date of the changes that :

a) The end of the period,

b) other total income ;

c) the capital transfers or reductions, including the purchase and sale of own shares ; and

d) the encoding to owners.

Chapter 3

Inserting and measurement

Balance

General provisions

§ 40. The balance consists of depositable assets, enrained liabilities, including committed commitments, and own funds, which make up the difference between these assets and obligations. For liabilities, the sum of own funds and the commitments entered into shall be :

§ 41. An asset must be taken into balance when it is likely that future economic advantages will flow to the establishment and the value of the asset can be assessed in a reliable way.

Paragraph 2. A commitment must be included in the balance when it is likely that future economic advantages will dismiss the company, and the value of the commitment can be assessed in a reliable way.

Paragraph 3. When taking account and measurement of assets and liabilities, account shall be taken of the information that emeralas from the balance day, but before the accounts are prepared if-and only if-the information confirms or dissence matters that have occurred at the latest ; Balanced day.

§ 42. Transactions carried out in a currency other than the company ' s functional currency shall be converted into the functional currency after the exchange rate of the transaction date.

Paragraph 2. Monetary items in a currency other than the operation of the establishment ' s functional currency shall be converted into the functional currency of the currency of the currency on balance the day of the balance.

Paragraph 3. Non-monetary items in a currency other than the company ' s functional currency shall be converted into the functional currency of the transaction date on the day of the transaction, if the entry is calculated on the basis of the cost price.

Paragraph 4. Non-monetary items in a currency other than the company ' s functional currency shall be converted into the functional currency of the litany on the balance day, if the mail is calculated on the basis of the daily value.

Paragraph 5. Paragracs 1 to 4 shall apply to a foreign entity whose activities are included in the accounts and which have a functional currency deviating from the functional currency of the accounting department.

Paragraph 6. Exchange rate differences arising from the disposal of assets or the dismantling of obligations covered by paragraph 1. 2-4 or re-enumeration in accordance with paragraph 1. 1-4 shall be included in the profit and loss account.

Paragraph 7. Deviates the currency of a company or a foreign entity's functional currency, the currency or the functional currency (s) of the presentation currency according to the following rules :

1) Result set-up items are converted into the currency exchange rate on the transaction day.

2) Balance records are converted into the luckurst on the balance day.

Paragraph 8. Exchange rate differences incurred in the conversion of the provisions of paragraph 1. 7 shall be included in the second total income, cf. section 83 (3). 2, and transferred to a separate item under the own funds.

Financial Instruments

§ 43. Financial assets and financial commitments are included in the balance when the undertaking becomes subject to the contractual provisions of the financial instrument.

§ 44. A financial asset that has been sold or otherwise transferred to another party shall cease to be in the balance sheet. Part of a financial asset must cease to be in the balance if it has been sold or transferred a uniquely defined share of the asset.

Paragraph 2. In the case of the purchase or sale of financial assets on the usual market conditions, the company may opt in a uniform way for all purchases and sales to calculate and discredit the assets in the balance either on the trade date or on the date of the settlement.

Paragraph 3. If the commercial date is used as the date of entry, cf. paragraph 2 shall be taken into account at the same time as the financial asset ' s financial asset shall be equal to the agreed price. Similarly, in the case of the sale of a financial asset, an asset corresponding to the agreed price. This obligation, or this asset, will cease to be included in the balance of the settlement date.

Paragraph 4. For the purposes of the settlement date as the date of entry, cf. paragraph 2, changes to the value of the acquired or sold active during the period between the date of trade and the settlement date shall be considered as a financial asset or a financial commitment. For an asset, which is measured at cost or amortised cost, value changes are included in the period between the date of trade and the settlement date not.

Paragraph 5. Notwithstanding paragraph 1 1 shall be given a financial asset to be transferred in a way that involves the undertaking to significantly maintain the risk and access to the yield (payments flows) associated with the asset, retained in the balance sheet. In such a transfer, a financial commitment shall be taken equal to the payment received in the transfer.

§ 45. Financial commitments cease to be in the balance when-and only when-the commitment ceases. That is, when the duty stated in the contract has been fulfilled, cancelled or expired.

§ 45 a. Regardless of the ban on set-off in section 188, paragraph 1. 1, no. 8, in the Act of financial activities, financial assets and financial commitments shall be offset and presented with the net amount of the net solution where the following conditions are met :

1) The company shall have the right to offset against the other side and

2) the undertaking intends to dispose of the asset and liquidate the obligation on the set-off or disposable asset and liquidate the obligation at the same time.

§ 46. Funding instruments must be measured at the time of the first entry.

Paragraph 2. Financial obligations as well as loans and receivables, which shall be continuously measured at the cost of the ammortised cost, cf. Section 48 and 49 shall, however, at the first introduction shall be measured to the daily value of the transaction costs and deduction of the fees received and commissions directly related to the acquisition or issuance of the financial instrument.

§ 47. Financial instruments shall be continuously measured on an on-going basis to a daily basis.

Paragraph 2. Unotated capital shares must, where their daily value cannot be measured reliably, must be measured at the cost of deduction of preciotions, cf. paragraph The equivalent shall apply to derivative financial instruments, the value of which is derived from such capital units.

Paragraph 3. Where an objective indication of degradation has been made, financial assets shall be subject to paragraph 1. 2 shall be written down by the difference between the accounting value and the present value of the expected future payments discredited with the current market interest rate for similar financial assets. Such depreciation shall not be rewritten.

§ 48. Non-derived financial commitments may, irrespective of section 47 (s), 1, after the first recording, the timing of the amortized cost, provided that it is not a question of :

1) measurement of daily value eliminates or significantly reduces a measure or inconsistencies, which would otherwise occur because of the measurement or on the basis of different bases,

2) the corresponding commitments are part of a risk-management system or an investment strategy based on day values and are included on this basis in the company ' s internal management reporting, or

3) the undertakings concerned contain an intrinable financial instrument, which :

a) substantially change the cash flow of the obligations in question and

b) alternatively, it would have to be parted and measured separately to day value.

Paragraph 2. Financial obligations, as provided for in paragraph 1. 1 is measured for the amortised cost, cannot subsequently be measured to day value.

§ 49. The loans and receirets may, however, notwithstanding section 47, paragraph 1. 1, after the first recording, the timing of the amortized cost, provided that it is not a question of :

1) measurement of daily value eliminates or significantly reduces a measure or inconsistencies, which would otherwise occur because of the measurement or on the basis of different bases,

2) the loans and receipts in question are part of a risk-management system or an investment strategy based on day values and are included on this basis in the company ' s internal management reporting, or

3) the loans and receidits in question contain a built-in financial instrument, which :

a) substantially change the cash flow of the loans in question and receip; and

b) alternatively, it would have to be parted and measured separately to day value.

Paragraph 2. Loans and receibuts, as provided for in paragraph 1. 1 is measured for the amortised cost, cannot subsequently be measured to day value.

Paragraph 3. Where an objective indication of value degradation has been made, the loans and the loans referred to in paragraph 1 shall be subject to the granting of an objective basis. 1 is written in the difference between the accounting value and the present value of the expected future payments discredited with the original efficient interest rate of the loan or the assets of the debit. If a subsequent event beefs the degradation of values in whole or in part, the depreciation shall be reversed accordingly. The return shall be taken into account in the profit and loss account.

$50. The daily value of listed financial instruments shall be fixed at the level of the balance sheet on the balance day or, if not available, a different heading which is to be considered best to respond to this.

Paragraph 2. When the company has matching positions, middle classes may be used as the basis for the calculation of the daily value of the matching position and will be used for purchasing and selling prices on the open net position.

Paragraph 3. However, the daily value of extracted listed bonds shall be dissolved as the present value of the debt securities.

Paragraph 4. The daily value of listed financial instruments whose published stock exchange rate may not be assumed to reflect the instrument's daily value shall be measured by section 51.

§ 51. In the case of financial instruments not listed on a stock exchange or for which a stock exchange is not present, reflecting the instrument's fair value, cf. § 50, paragraph. 4, the value of the day value shall be determined by means of a set of values of values which are designed to determine the transaction price which would appear in a trade at the time of measurement between independent parties, which are responsible for normal business considerations.

Paragraph 2. A set of values in accordance with paragraph 1. 1 shall :

1) involve all factors including the observing of current market data, which may be influenced by the value of the market participants in the price fixing of the financial instrument in question ; and

2) be in accordance with generally accepted methods for the pricing of financial instruments.

§ 52. Own shares and other own self-capital instruments are not considered to be an asset, acquisitions or sale of own shares and other own self-capital instruments shall be considered as a change in own funds.

Paragraph 2. Own debt instruments are not included as an asset, any purchase or sale of own debt instruments shall be taken into account as a change in the obligation in question.

Data Buses and Associated Companies

§ 53. Parts of subsidiaries and affiliated undertakings shall be included and measured to the accounting internal value of the business. The internal value of the companies shall be reinvented according to the accounting practice of the accounting firm.

Paragraph 2. The sum of the shares corresponding to the shares of the associated and associated undertakings shall be shown in the profit and loss account in the accounts ; Income from affiliated undertakings mail respectively, Income from affiliated undertakings .

Paragraph 3. The accounting value of the capital shares shall be rewritten or written down in the accounts referred to in paragraph 1. The amounts referred to in Article 2 (2), as well as the possible adjustments to the accounting internal value of the associated and associated undertakings, which have been carried out as a capital movement in the associated and associated undertakings. In exchange for the parent company, the company must be deducted from the accounting internal value of the affiliated and associated companies.

Paragraph 4. An amount corresponding to the total net upwrite, cf. paragraph 3, shall be added to the reserve for net rewriting by the internal value of the internal value under passive post, 4.3. Other references The reserve cannot be taken into account with a negative amount. The net inwrite reserve by the method of an internal value can not be used as a yield or an encoding.

Paragraph 5. Paragraph 4 shall not apply to undertakings operating directly life-assurance undertakings.

Paragraph 6. A possible difference between the cost and the internal value of the acquisition of a subsidiary shall be treated in accordance with section 142 (1). 2-4.

Paragraph 7. A possible difference between the cost and the internal value of the acquisition of an associated enterprise shall be treated in accordance with section 142 (2). 2-4. However, any goodwill amount shall be considered as part of the value of the associated enterprise and not as an asset under intangible assets.

§ 54. Notwithstanding section 53, subsidiaries and affiliated undertakings that are in temporary possession, cf. § 10, measured to the lowest value of the value done after section 53 and the day value of the deduction of sales costs.

Paragraph 2. No depreciation shall be carried out on assets of subsidiaries and affiliated undertakings covered by paragraph 1. 1.

Material fixed assets

§ 55. Material fixed assets which are used to be used in the establishment or for hire and which are expected to be used for more than one financial year shall be measured at the cost of the initial check.

Paragraph 2. In the cost of the cost, all costs incurred by the purchase shall be included up to the time when the asset is ready to be used, or which can be directly attributed to the active asset.

§ 56. Material fixed assets, except for investment victualling and domicilejendous, cf. Section 57 and 58, as well as the assets covered by Section 59, shall be measured at the cost of deduction of cumulative depreciation and cumulative precipitation in value degradation.

Paragraph 2. Depreciation is included in the profit and loss account. Depreciation is the systematic distribution of the asset's estimated cost of the asset value of the asset's cost of deduction from the value that the asset is expected to bring at the end of the use. The depreciation base must be measured at the time of entry and subsequent changes to the elements that form part of the write-off basis.

Paragraph 3. Depreciation for loss of value degradation must be made if it is estimated that the recovery value of the asset is lower than the accounting value according to the depreciation of the valuation. Depreciation must be returned when the depreciation is no longer based on the precipitation.

Paragraph 4. A group of material fixed assets may, after the initial calculation, be measured in accordance with the rules of the domicilejendous basis in section 58. All assets belonging to the group in question shall be measured in accordance with this method.

§ 57. The return on investment shall be continuously measured on a daily basis.

Paragraph 2. The daily value shall be made in accordance with Annex 7.

§ 58. Domicilejendous must continuously be measured on the basis of the revaluation value, which is the day value of the time value of the time of re-evaluation, with deduction of subsequent cumulative depreciation and subsequent losses in value degradation. Revaluation must be carried out so frequently that the accounting value does not differ substantially from the dietary value of the domictional property on the balance sheet date.

Paragraph 2. The daily value of the balance-sheet date shall be made in accordance with Annex 7.

Paragraph 3. Increments in a domicilejom omestimated value are included in the second total income, cf. § 83, paragraph. 2, and transferred to the post Revaluation reserve under own funds, unless the increase corresponds to a wartime that has previously been included in the profit and loss account, cf. paragraph 4.

Paragraph 4. Decrees in a domicilejom omestimated value are included in the profit and loss account unless the fall corresponds to a value increase previously included in the second total income, cf. paragraph 3. In such cases, the value falls shall be taken into account in the second total income and transferred as a reduction in : Revaluation reserve under own funds.

Paragraph 5. Depreciation based on the latest overestimated value, cf. § 56, paragraph. TWO, TWO. Act. are included in the profit and loss account.

$59. Material fixed assets covered by § 10 on assets in temporary possession are measured to the lowest amount of accounting value and daily value by deduction of sales costs.

Paragraph 2. No depreciation shall be carried out on material fixed assets covered by paragraph 1. 1.

Intangible assets

§ 60. The intangible assets at the time of the first intake must be measured at cost, cf. however, paragraph 1 Two and three.

Paragraph 2. Development costs can only be considered as an immaterial asset if there is evidence of,

1) that there is a technical possibility of finalisation of the immaterial asset in such a way that it can be used,

2) the undertaking intends to complete the immaterial asset,

3) the undertaking to use the immaterial asset,

4) that the intangible asset will produce likely economic advantages in the future, which at least correspond to the costs incurred ; and

5) that the company can be trusted in a reliable manner to measure the costs incurred to the immaterial asset in the course of its development.

Paragraph 3. Internally, brand names, customer lists, and similar, research costs, founders, start-up costs, training costs, marketing costs, relocation and reorganization costs and internal goodwill must not ; are considered active.

§ 61. In the first-rate, intangible assets must be measured at the cost of deduction of cumulative depreciation if the asset is estimated to have a final use time and accumulated losses in value degradation, cf. § 56, paragraph. Two and three.

Leasing

§ 62. Financial leased assets are taken into leased times from the time leased with leased leases to use the leaked asset at the first expense measure the asset to the lowest value of the day value or the current lease value of the agreed leasing payments. At the same time, the current value of the agreed leasing payments is included as an obligation. When calculating the current value, the lease internal interest rate is used if it is possible to determine this. Otherwise, the leased rate of leased leasing is used.

Paragraph 2. After the initial check, the financial leaked assets of leasing assets shall be measured according to the principles of section 55 to 61 depending on the nature of the leased asset.

Paragraph 3. Accounts receivable from financial leases are taken into leased leases as a credit whose value corresponds to the net investment in the lease agreement.

Paragraph 4. Assets that are part of an operational lease contract are included in the balance of leasing, but not in leased, according to the principles of section 55 to 61 depending on the character of the leaked asset.

Insurance Responsibilities

§ 63. Insurance commitments are taken into account at the time when the insurance risk is transferred to the establishment.

§ 64. An insurance undertaking or a part thereof must be removed from the balance when it has been discharged. This is the case where the assurance obligation, as specified in the contract, has been fulfilled, lifted or expired.

§ 65. Provisions for insurance undertakings shall be made in such a way that they are sufficient to cover all the undertaking ' s insurance undertakings, while at the same time is not greater than necessary.

Provisions for life assurance obligations

§ 66. Passive mail 9 .1 Guaranteed benefits invenable as the value of guaranteed benefits, in addition to paragraph 1, Five and six. For bonuses insurance and investment contracts, the value may be discharged without regard to future revaluation of contracts for free polices and withdrawals.

Paragraph 2. Passive mail 9 .2 Bonus potential in future premiums be made up for the stock of eligible insurance and investment contracts as the difference between : the value of guaranteed free policy services, and the value of guaranteed benefits, , cf. however, paragraph 1 7.

Paragraph 3. Passive mail 9.3 Bonus potential on free policeservices be made up for bonuses insurance and investment contracts as the difference between : the value of retrospective provisions, and the value of guaranteed free policy services, , cf. however, paragraph 1 8.

Paragraph 4. In the list of entries referred to in paragraph 1, 1-3 apply

1) the best possible estimates of the insurance risks involved, including mortality rates and invalidity frequency, etc.,

2) the best possible estimates of the costs to which the contracts are likely to be managed under the conditions in force in the market ; and

3) a dilation interest, which has been laid down in accordance with the rules laid down in Annex 8.

Paragraph 5. If the assurance of life insurance for each insurance and investment contract, prior to any guarantees for the guaranteed withdrawal, is lower than the value guaranteed by the withdrawal of the contract, and raises passivity mail ; 9.1 Guaranteed benefits , cf. paragraph 1, with the difference. Difference mentioned in 1. Act. may be reduced taking into account the overall probability of the contract being withdrawn before its expiry. However, such a reduction may only be made where the likelihood of withdrawals in the case of withdrawals under 1 may be justified in the fact that periods of insurance are subject to contractual limitation to be limited to taking place in specific situations.

Paragraph 6. Passive mail 9.1 Guaranteed benefits to include amounts to cover future benefits provided by an intruant insurance event which does not appear during the passip post ; 10. Claims for claims .

Paragraph 7. If guaranteed free policy services for each insurance and investment contract ; is less than guaranteed benefits for each insurance and investment contract ; , set guaranteed free policy services for each insurance and investment contract ; in the case of such insurance, guaranteed benefits If the value of guaranteed free policy services, in the case of the population of bonuses eligible insurance and investment contracts, less than the value of guaranteed benefits, , cf. paragraph 1 relating to bonuses for insurance and investment contracts, the value of guaranteed free policy services, for these contracts equal to the part of : the value of guaranteed benefits, related to bonuses insurance and investment contracts.

Paragraph 8. If the value of the retrospective provision for each insurance and investment contract ; is less than guaranteed free policy services for each insurance and investment contract ; , set the value of the retrospective provision for each insurance and investment contract ; for this contract equal to : guaranteed free policy services for each insurance and investment contract ; If the value of retrospective provisions, for the population of bonuses eligible insurance and investment contracts are less than that of : the value of guaranteed free policy services, shall be put on bonuses relating to bonuses eligible insurance and investment ; the value of retrospective provisions, for these contracts equal to the part of : the value of guaranteed free policy services, related to bonuses insurance and investment contracts.

Niner. 9. For the drawing-based basis where the average margins are collected on a single element, the restrictions referred to in paragraph 1 shall apply to the provisions of paragraph 1. 7, 1. pkt., and paragraph. 8, 1. Pkton, not.

Paragraph 10. Passive poles 9.2 Bonus potential in future premiums and 9.3 Bonus potential on free policeservices may contain only amounts relating to bonuses insurance and investment contracts. Paraguation 7 and 8 shall apply only to bonuses insurance and investment contracts.

§ 67. Passive mail 11. Collective Bonus Potential be made up to the amount in which the undertaking has been collectively eligible for eligible insurance and investment contracts, in addition to those in the country ; Life Insurance Provisions , cf. § 15, Claims for claims , cf. § 16, and Special Farusheners , cf. section 19, made amount, cf. however, paragraph 1 2.

Paragraph 2. The amount shall be of a size so that the amount combined with Life Insurance Provisions , Claims for claims and Special Farusheners correspond to the contracts based on the current value of the company ' s assets individually and collectively entitled under the insurance and investment contracts and the calculation principle of the calculation principle, cf. Section 21 of the Act of Financial Action and Notice of the principle of contribution.

Paragraph 3. Collective Bonus Potential may be reduced by transfer to another item under the technical provisions or with negative results which may have been allocated to the eligible insurance and investment contracts, in accordance with the provisions of the Member State concerned ; principles for the distribution of implemented results, which apply to each contract, cf. paragraph 4.

Paragraph 4. Bonuses eligible insurance and investment contracts ' share of negative realised results shall primarily be accounting for the purposes of reducing the amount of money ; Collective Bonus Potential and may first affect the value of the passivoutpost, 9.3. Bonus potential on free policeservices when Collective Bonus Potential is exhausted. When Passivpost 11. Collective Bonus Potential are divided into sub-stocks, the rule shall apply to 1. Act. for each state of the state for them.

§ 68. Provisions for unit-related insurance and investment contracts shall be made up to a fair daily value in accordance with the daily value of the assets linked to contracts.

Paragraph 2. For unit-contracts with a guarantee of a certain minimum instalment, the estimated fair value shall be deemed to be fair in accordance with the principles of section 66.

Provisions for non-life assurance obligations

§ 69. The amount of the premiums shall be calculated as the sum of the amounts paid by the company within each stock of insurance covering the same risks as best estimates may be expected to pay in the event of an insurance undertaking which may be expected to take place ; after balance-sheet date and covered by the insurance contracts that the undertaking has entered into. The amount of the premium must also be included in the amount to be expected of the undertaking in accordance with the balance day for direct and indirect costs in the administration and damage treatment of the insurance contracts that the undertaking has entered into.

Paragraph 2. Premium provisions shall at least amount to the sum for each stock of insurance covering the same risks, for each insurance contract calculated the proportion of the gross premium corresponding to that part of the period of insurance due to be used ; Balanced day. Average calculations may be used when there is reason to assume that they are approximating to the same result as a calculation based on individual insurance contracts.

Paragraph 3. For the calculation of the minimum number of items, 2 gross premiums may be deducted after deduction of the part of the premium corresponding to the acquisition costs which have a dense and substantiated connection to the conclusion and renewal of the contract of insurance and which are at the cost of the contract ; the conclusion.

Paragraph 4. Where a dilation is of major importance for the size of the premium provisions, as laid down in paragraph 1, 1, the amount shall be discounted. Where appropriate, a dilation rate shall be used in accordance with the rules laid down in Annex 8.

§ 70. The provision for claims shall be calculated as the sum of the amounts paid by the company, in the event of an insurance undertaking which has taken place until the balance date in addition to the amounts already paid for ; the occasion of such events. The provision for claims shall also include the amount to be expected of the undertaking to bear direct and indirect costs in connection with the settlement of the liability commitments.

Paragraph 2. The provision for claims shall be calculated as the sum of the expected compensation amounts and costs after :

1) a case-for the assessment of notified insurance events, which, at the very least, must include all notified insurance events of a significant extent,

2) an experience-based estituation of inadequately enlightened insurance events which have been subject to a case-for-case assessment,

3) an experience-based estituation of notified insurance events that have not been subject to a case-for assessment, and

4) an experience-based estituation of insurance events that have been taken before the balance-sheet date, but which are not notified at the time of the drawing up of the accounts.

Paragraph 3. In the case of compensation for claims, account shall be taken of the revenue and costs associated with inheritance and the achievement of assets and rights acquired by the undertaking in the payment of the replacement.

Paragraph 4. If a discount is of significant importance to the amount of the claim for damages, the expected payments shall be discounted. Where appropriate, a dilation rate shall be used in accordance with the rules laid down in Annex 8.

Insurance assets

§ 71. The rights of the establishment of a reinsurance contract for future insurance events shall be made up to the net premium by deduction of the amount of the net premium relating to the period before the balance date. The net premium shall be the premium paid by the company for the reinsurance contract with deduction of the amount payable for the company ' s acquisition costs.

Paragraph 2. The rights of the establishment of a reinsurance contract, relating to the subject of insurance claims, are being discharged from the terms of the reinsurance contract on the basis of the same estimates and principles for discounting which have established the basis for the calculation of : the provision for replacement.

Paragraph 3. Insurance assets shall be assessed for any value degradation and written to the present value of the payments which are expected to be recovered if this value is lower than the value set out in paragraph 1. One and two.

Referended obligations

§ 72. Commitate commitments, warranties and other obligations that are indifferent with regard to the size or time of execution are included as committed commitments when it is likely that the commitment will result in a move to the economic establishment of the undertaking, resources, and the obligation may be measured in a reliable way.

Paragraph 2. Loss-loss contracts, which are contracts where the inevitable costs of fulfilling contractual obligations exceed the expected economic benefits, shall also be taken into account as commitment.

Paragraph 3. Commitment commitments shall be measured at the best estimate of the costs necessary to deliver on the current commitment to the balance day.

Paragraph 4. Where discharges are of significant importance to the size of a committed commitment, it shall be measured to the present value of the costs expected to be required to deliver the commitment.

Paragraph 5. The rate of dilation used to measure the present value shall be set up in accordance with Annex 8 to reflect the risks specific to the obligation. The conversion rate shall not reflect the risks which are regulated in the estimate of the costs necessary for the commitment to the obligation to be released, cf. paragraph 3.

Paragraph 6. However, warranties may not be calculated or measured at a lower value than the premium or commissions that the undertaking has received in order to assume the guarantee, systematically written over the risk period.

§ 73. Commitate obligations shall be reviewed at each clearance of accounts and regulated in such a way as to reflect the best current estimates. If it is no longer likely that incorporation will lead to a move to the company's financial resources, the obligation to be returned must be returned.

Paragraph 2. A commitment may be used only to cover the costs incurred in the first introduction to the application of the application.

Staff services

§ 73 a. Cost of benefits and benefits for employees of their work shall be included in the profit and loss account as the employee's performance of the benefits and benefits is granted to the benefits and benefits.

Paragraph 2. Unpaid amounts which have been cost in accordance with paragraph 1. 1 shall be considered as an obligation. Amouns due within 12 months of the period in which they are earned shall not be discharged, while amounts due to fall more than 12 months after the period in which they are earned shall be discharged. Prepaid amounts are taken into account as an asset.

§ 74. Pension obligations to employees must be taken into the present value of the benefits which, based on the best possible estimates, should be expected to be paid.

Paragraph 2. Pension obligations must be reviewed on each balance sheet date so that the amount calculated reflects the current value of the best current estimate.

Paragraph 3. Paraguments 1 and 2 shall not apply to pension obligations to employees where the terms and conditions correspond to normal conditions in insurance contracts that the company provides for customers. Such insurance contracts shall be treated in accounting terms with and according to the same principles as the corresponding insurance contracts with customers.

Stock-based remuneration

§ 75. Asset-based remuneration and personnel will be included as a cost in the profit and loss account. At the same time, a similar increase in own funds is included.

Paragraph 2. The estimated cost is measured to the day value at the allocation time of the instrument being used for payment.

Tax

SECTION 76. Current tax on the accounting year and earlier financial years shall be deemed to be a commitment. If the tax that has been paid is greater than the current tax for the accounting year and earlier financial year, the difference shall be taken as an asset.

Paragraph 2. The fiscal duty that is based on a temporary difference between the accounting value and the tax value shall be taken as a deferred tax. If the difference is a negative one, and it is likely that it will be able to use it to reduce future tax, a deferred tax will be taken into account.

Paragraph 3. Notwithstanding paragraph 1 2 shall not be deferred from the deferred income tax of any security funds committed by untaxed means, cf. § 124, unless it is likely that, within a foreseeable period, a situation will occur that will trigger the taxation of the funds in the security fund, cf. § 13 c, in the field of income taxation of limited liability companies, etc.

Accounting Security

§ 76 a. If a security relationship is established between one or more derivative financial instruments or in the case of the risk of exchange-rate risks between one or more non-derivative financial instruments ; (The security instrument) and an asset, an undertaking commitment, a group of assets or a group of commitments (the secure line), which is measured at the amortised cost, the value of the secured position for the secured risk ; adjusted to fair value. The value change is included in the profit and loss account. In the case of the fuse, the secured post shall be adjusted according to the principles of the amortized cost of the calculated value based on the newly calculated value.

Paragraph 2. Paragraph 1 shall apply by analoging in respect of the risk of changes in the daily value of an unscheduled future payment for goods and services, as the changes in the daily value of the payment are included as one ; asset or commitment. The value change is included in the profit and loss account. The value of the asset or acquired obligation on the future payment shall be adjusted at the time of the settlement of the agreed upon future payment, with the added value of the assets in question.

§ 77. Where a security relationship is established for the securing of payments between one or more derivative financial instruments, or in the case of the risk of exchange-rate risks between one or more derivatives or non-derived financial instruments ; instruments (the security instrument) and future payments, the part of the change in the daily value of the security instrument, which covers the fluctuations in the payment flow, shall be included in the second total income, cf. § 83, paragraph. 2.

§ 78. If a foreign exchange rate guarantee is established for an investment in a foreign entity, the proportion of the security instrument relating to the security shall be included in the second total income. The safety instrument can be a non-derivative financial instrument. The amounts included in the second total income, including amounts included in the second total income in connection with the currency conversion of an investment in a foreign entity, cf. § 42, paragraph. 8, shall be included in the profit and loss account when the foreign unit is dispose.

§ 79. A security situation may only be addressed in accordance with the rules in section 76 a and 78 where the following conditions are met :

1) Formal documentation is available at the time of the security relationship established for the existence of a security relationship, as well as for the company ' s risk management strategy, which shall include :

a) identification of the security instrument and the secured record,

b) identification of the risk that is ensured ; and

c) the method used for measuring the effectiveness of the security instrument, cf. no. 2.

2) There is a reasoned justification for a high degree of efficiency in safety.

3) In the case of payment flows, the applicable future payments must be highly probable and variations in the balance of payments must be of such a nature that they will affect the future accounting results of the company.

4) The efficacy of the safety team, cf. no. 2, can be measured reliably.

5) The safety relationship is continually assessed and has shown itself to be a high degree of efficiency in the part of the financial period in which it has been established.

$80. The accounting treatment of security conditions, cf. section 76 a and 78 shall cease at the time of the date on which :

1) the security instrument or the security instrument expires, sold or used, unless the SSC is replaced by a new SSO as part of the company's documented security strategy ;

2) the security relationship no longer meets the criteria in section 79 ;

3) the future transaction, which forms the basis for the secured payments, no longer expected to take place, or

4) the company ends the security relationship.

§ 81. Where a transaction or payment current where the payments have been covered by a security relationship pursuant to section 77 is implemented or implemented, the amounts previously calculated in the second total income shall be calculated in the profit and loss account. period such as the one in which the transaction or charge of payment is affected by the profit and loss account.

Paragraph 2. In a situation as specified in § 80, nr. 3, the amounts included in the second total income shall be taken into account in the profit and loss account.

Result statement and other total income

$82. The resulting balance shall comprise revenue and costs incurred.

§ 83. The profit and loss account shall be taken into account in the performance of the profits and all costs as they are applied. All valuations, depreciation, depreciation and remittations of amounts previously included in the profit and loss account shall be included in the profit and loss account, cf. however, paragraph 1 2.

Paragraph 2. The following shall be included in a separate account in the extension of the profit and loss account referred to as ' other total income ` :

1) Increments in a domicilejom omite re-estimated value and reverses of such increases, cf. § 58, paragraph. 3 and 4.

2) Exchange rate differences resulting from the conversion of transactions and balance-sheet items, including goodwill, in a unit with a functional currency which differs from the presentation currency, cf. § 42, paragraph. 8.

3) Changes to the value of the security instruments that depart fluctuations in the size of future payment flows, cf. § 77.

4) Changes to the value of security instruments that will cover the exchange rate risk of an investment in a foreign entity, cf. § 78.

Paragraph 3. The amount of the amount covered by paragraph 1. 2, no. 1-4 and which are to be allocated to eligible insurance and investment contracts shall not be included in the second total income and shall then be transferred to the relevant items under the post, III . Provisions for insurance and investment contracts, in total.

Paragraph 4. For each item under the second total income, the corresponding tax effect is either directly in other total or in a note.

Accounting Practices Amendment

§ 84. Does the company change methods on the basis of the measurement or presentation currency, all the items concerned, including comparison figures, note information and five-year summaries, unless special rules have been established for the relevant method of change ; be prepared as if the new method had been used all along.

Paragraph 2. Paragraph 1 shall not apply to the extent that it is not practicable to change entries from previous financial years in order to be consistent with the new method. In this case, the balance of prices shall be amended in accordance with the new method from the earliest possible date and the other items shall be subject to impact in this respect.

Modification of accounting estimates and errors

§ 85. The amount of the change which was estimated for a previous financial year, due to a change in accounting estimates, shall be taken into account in the corresponding manner as the original estimate.

§ 86. If previous annual reports were influenced by errors in connection with the preparation, all the items concerned, including comparison figures, note information and five-year summaries, shall be prepared as if the failure was not committed.

Paragraph 2. Paragraph 1 shall not apply to the extent that it is not practicable to direct entries from previous financial years. In that case, the price balance shall be amended from the earliest possible date and other items shall be subject to impact on this point.

Chapter 4

Note information

General

§ 87. In addition to the information required by this chapter, the additional additional information required to give a true and accurate picture shall be provided.

§ 88. Note information shall as far as possible be presented in a systematic order. Information associated with the accounting items is given in the form of a note to the accounting item in question. Unless otherwise stated in the individual provisions of this notice, it is the accounting values that need to be explained.

Paragraph 2. The information to be provided pursuant to this Chapter shall be contained in a separate part of the annual report, which is clearly delimited and described as ' notes `, in accordance with the said section. however, § § 89-91. If an information requirement is complied with, a reference has been made to the fact that the information is given in the Management Report or in other parts of the annual report which are not part of the annual accounts, the reference must be precise and limit. the information in question in relation to other information which is not subject to the information requirements of this chapter. The information required shall also be included in such cases of auditing, cf. Section 193 of the Act of Financial Business.

Accounting Practices Used

$89. A separate section of the annual accounts shall be set out in the annual accounts for all essential methods of introduction and measurement, used in balance sheet, profit and loss account and notes.

Paragraph 2. For financial instruments information shall be provided on the accounting practice applied in respect of the criteria for entry and measurement, including whether or not the establishment is relying on the date of trade or on the date of the settlement.

Paragraph 3. In the case of material fixed assets, except for the return on investment property and domicients, each type must be reported ;

1) the measurement basis used to determine the accounting value of assets,

2) the depreciation methods used, and

3) the usage times and depreciation rates applied.

Paragraph 4. For investment voyage and domicients, information must be provided

1) the measurement basis used,

2) the methods and assumptions used in the establishment of a daily value ; and

3) the criteria that have been used to separate the domicients ' outlet from investment outdoors.

Paragraph 5. In the case of entries of insurance contracts, information shall be provided on :

1) the measurement methods used for the various items,

2) where dilation is used, the method used must be reported,

3) the principal assumptions and estimates used for the measurement of the posts,

4) the process, which is used to determine the preconditions that have the greatest impact on the measurement of the posts,

5) significant correlations between different assumptions ;

6) the method of calculation where the amount in a post in the annual report has been obtained by a distribution calculation, and

7) how the calculation method in pkt. 6 has been amended in relation to the preceding financial year, if so, and indicating the significance of the change for the individual items of the accounts and the comparability of the corresponding amount for the preceding financial year.

Paragraph 6. For changes in accounting practice, information must be provided

1) the reason for the change,

2) the change in accounting practice, including the nature of the change ; and

3) the monetary effect of the change in accounting practice for balance sheet and profit and loss accounts for the current, earlier and future financial years, if available.

Paragraph 7. In the case of changes in accountancy estimates having an effect during the current or future financial year, the company shall state the nature and amount of the change to be made. If it is not possible to estimate the amount of the amount to be done, the company shall state this.

Paragraph 8. In the case of accountancy errors, the nature of this and the amount shall be the nature of the balance sheet and the correction of balance sheet and profit and loss account.

§ 90. When comparing comparison has been made, cf. Section 5 (5). 1, the following information must be provided :

1) the nature of the adjustment,

2) the amount of each item that is adapted and adjusted ;

3) the reason for the adaptation.

Paragraph 2. Non-alignment of comparison figures, cf. Section 5 (5). 1, must be stated and justified.

§ 91. By deviations in accordance with section 188 (4). 3, in the Act of financial activities, the requirement for note information is found in section 186 (6) of the law. THREE, TWO. PC, use.

Five-year overview

§ 91a. A five-year overview shall be given with the head and key figures in accordance with Annexes 9 and 10.

Paragraph 2. Life insurance undertakings operating on sickness and accident insurance activities shall indicate the main and key figures for this part of the business in accordance with Annex 10. Main numbers 7. The result of the year, 11. Total capital, total and 12. Assets, Total and the key figures 6. Capital business in percentage and 7%. Sunlight Coverage do not need to be reported. The main and key figures for sick and accident insurance activities do not need to be reported in connection with the company ' s main and key figures, but can be stated in the notes relating to the other information on the sick and accident business, cf. 32.

Paragraph 3. If the figures in the five-year summary are not comparable, then the figures must be adjusted as far as possible. Failure of comparability or adjustment shall be indicated and duly justified.

k. 4 If the company has only existed in a shorter period than five years, a summary shall be drawn up in accordance with paragraph 1. 1-3 for the shorter period.

Risk Information

§ 91b. The company must describe its financial risks as well as its policies and targets for the management of financial risks.

Paragraph 2. The company must describe its insurance risks as well as its policies and objectives for the management of insurance risks.

Financial Instruments

§ 92. In the case of financial instruments, the nature of the instruments concerned, including essential conditions and conditions, which may influence the amounts, times and uncertainties relating to future payment flows.

Material fixed assets

§ 93. In the case of material fixed assets, with the exception of investment outdoors and domicients, the following information shall be provided :

1) The cost of the cost :

a) The cost of the previous financial year ' s end without a depreciation or depreciation.

b) Currency adjustment adjustment.

c) Adjust this year, including improvements.

d) Let's go for the year.

(e) Transfers to other posts during the course of the year.

(f) The total cost of the balancing act.

2) Writes down and depreciation :

a) Down and depreciation at the end of the previous financial year.

b) Currency adjustment adjustment.

c) Depreciation of the year.

d) Depreciation of the year.

(e) Depreciation of the year and depreciation of the assets and depreciated assets.

(f) The reversal of the year before years of depreciation and the return of the total and depreciation of assets that have been depicted by the year or by the operation of the year.

g) The total and preciament of the balance sheet date.

$94. For investment voyage, cf. Section 57, the following information shall be provided :

1) The daily value at the end of the previous financial year.

2) Adjust this year, including improvements.

3) Let's go for the year.

4) Value adjustment of the year to fair value.

5) Other changes.

6) The daily value of the balance-sheet date.

Paragraph 2. For the domicilejendous, cf. section 58, the following information shall be provided :

1) Revalued value at end of the previous financial year.

2) Adjust this year, including improvements.

3) Let's go for the year.

4) Depreciation.

5) Value adjustments, as in the course of the year, are in the second total income.

6) Value adjustments, as in the course of the year, are included in the profit and loss account.

7) Other changes.

8) Realiced value at the balance-sheet date.

Paragraph 3. It is also stated whether external experts have been involved in the measurement of investment outdoors and domicilejenda.

§ 95. For investment voyage and domicienda, the weighted average of the percentages laid down for the determination of the property value of the individual property is specified in property types.

Investments in companies that operate life-assurance business

§ 96. The company ' s assets and their returns shall be specified in accordance with the table in Annex 11, cf. the rules for the completion of the schema in Appendix 12.

Paragraph 2. The information provided in paragraph 1 Paragraph 1 shall not be subject to the requirement for comparisons in section 5 (5). 3.

§ 97. The percentage distribution of the undertaking ' s holdings of capital shares, including capital shares in investment associations, shall be specified in industries and regions of a note in accordance with the table in Appendix 13, cf. the rules governing the application of the schema in Appendix 14.

Paragraph 2. The information provided in paragraph 1 Paragraph 1 shall not be subject to the requirement for comparisons in section 5 (5). 3.

-98. If the undertaking ' s annual report does not include a list of all the undertakings in which the company shares capital shares, and the size of these shares, it shall also be stated whether or not the public is in question in question or otherwise ; access to getting this information.

Event Assets

§ 99. Unless it is highly unlikely that economic benefits will be added to the company, the company must provide a brief description of the species of eventualassets on balance the day and, if practicable, a estitua of their economic impact.

Life assurance obligations

§ 100. The development of the total translations for insurance and investment contracts (gross), including provisions for unit-contracts contracts, shall be specified in the name of :

1) Life insurance claims primo.

2) Accumulated value adjustment primo (+ /-).

3) Retrospective provisions on primo (1-2).

4) Gross premiums (+).

5) Interest writing (+).

6) Insurance services (-).

7) Cost allowance after the addition of cost bonus (-).

8) Risk-based added risk-based reward (-).

9) Retrospective provisions ultimo (3-8).

10) Accumulated value adjustment ultimo (+ /-).

11) Life-assurance provision ultimo (9-10).

Paragraph 2. For each relevant part of the state, the distribution of life assurance provision shall be divided by insurance contracts, respectively, of the initial interest rate of the investment contract of the investment contract. Guaranteed benefits , Bonus potential in future premiums and Bonus potential on free policeservices at the beginning of the accounting year and the opening of the financial year.

Paragraph 3. The difference between life assurance claims for indirect insurance at the end of the accounting year and the beginning of the accounting year. Specification thereof, cf. paragraph 1 is not required.

§ 101. If special conditions are to be fulfilled for the Bonus potential on free policeservices may be used to cover losses, the size of this part of : Bonus potential on free policeservices and the associated conditions shall be provided. It must also be stated in the amount of the financial declaration, whether or not Bonus potential on free policeservices has been reduced in the context of the allocation of reality results to insurance, respectively, on investment contracts.

Paragraph 2. If Guaranteed benefits has been discharged in accordance with section 66 (3). 5, the sum of the add-ons shall be provided before and after the calculation of the back-up probabilities.

Paragraph 3. Principles for the calculation of the risk addendum used, cf. Annex 1 must be reported.

§ 101 a. It must be informed, if : Guaranteed benefits has been done with or without taking into account the revaluation of contracts for free policy and repurchase, cf. § 66, paragraph. 1. In the case of free polices and withdrawals, the likely revaluation of the revaluation of free polices and withdrawals shall be described, stating the reasons for their use. The amount of the amount in question on the size of : Guaranteed benefits must be reported.

Indemsities obligations

§ 102. The result of the drainage results for the damage caused must be stated both in the gross and at own expense.

Paragraph 2. If the result of exceptional size is the result of this, the reason for this must be explained.

Other obligations

§ 103. The following shall be provided for responsible loan capital :

1) A specification of interest, exceptional payments, and the cost of the admission and the intake of responsible loan capital during the financial year.

2) Indication of the amount of the loan capital responsible for the calculation of the base capital.

Paragraph 2. For each deposits of responsible loan capital exceeding 10% of the total responsible loan capital of the undertaking, the undertaking shall indicate :

1) The amount of the loan, the currency, denominated in the interest rate and the due date, and whether it is unamortisably.

2) Whether in certain circumstances it is necessary to return for a faster refund.

3) Other terms related to the obligation under the obligation, including any provisions that may be converted to stock, shares or guarantee capital, or to a different kind of debt and the conditions under which they are to be subject to such debt.

§ 104. Information on the part which falls more than five years after the balance sheet date must be provided for each debt in the balance sheet.

Paragraph 2. If the company has made a security of the assets or other security, this must be reported with an indication of the extent of the pan-statement and the value of the pawned assets, specified for the individual items. The total security of subsidiary undertakings and of other undertakings within the group shall be shown separately.

Paragraph 3. Unless it is highly unlikely that a move will be made on the financial resources of your company, the company must provide a brief description of the nature of the contingent obligation. The company must give up the value for each contingency obligation and for eventuality commitments. However, this does not apply to undertakings under the insurance contracts of the company. Obligations to a parent undertaking and its subsidiary undertakings shall be shown separately.

§ 105. For each security situation that satisfies the conditions of accounting security, cf. Section 79 must provide information :

1) The nature of the risk that is guaranteed.

2) Arten of the insured.

3) The Arts of the insurance instrument.

4) In the case of a guarantee of transactions, the undertaking shall be required to provide the undertaking 1-3 specified information describing the expected future transactions, including when expected to have been expected to be included in the profit and loss account and describe any expected transactions that have been processed in the past as a previous one. accounting security, but which are no longer expected to take place.

5) Where valuations of derivative financial instruments classified as security instruments relating to the payment of payments are directly related to the own funds, shall be provided on the amount that is

a) in the second total income of the current financial year,

b) transferred from own funds and included in the annual profit and loss account ; and

c) transferred from own funds and included in the cost of an asset or an obligation for the financial year.

§ 105 a. A company that does not measure financial commitments to day value shall indicate the size of the change in the daily value of these commitments, which may be attributed to changes to the credit risk of the obligations. This change can be determined either :

1) as the difference between the overall change in the daily value of the obligations and the part thereof which may be applied to changes as a result of changes in market conditions which relate to market risks ; or

2) in an alternative method, which the company considers better, a true picture of the change in credit risks to the commitments made.

Paragraph 2. The information provided in paragraph 1 1 shall be given to groups of the undertaking ' s obligations that are relevant to the information requirement, respectively for the financial period and cumulative from the first entry into account of the commitments.

Paragraph 3. The methods used to determine the amounts provided for in paragraph 1. 1 and 2 must be reported. In addition, if it does not consider the information to be provided in a reliable manner, the changes in credit risk to the commitments and information on the background to this conclusion and the factors that the company believes to be reliable shall be provided by the company ; relevant in this context.

Paragraph 4. The difference between the accounting value of obligations covered by paragraph 1. 1 and the amounts to which the undertaking is under contract obligation to pay at waste must be reported.

Score statement

§ 106. Information shall be provided of the expenses incurred in the year for commissions for the direct insurance and investment contracts of the undertaking.

§ 107. The subpost CursAdjustments be given by item 2 in item 2. Domicilejendous , asset mail three. Investment in the end , substations for asset-mail 5. Other financial investments, total as well as any other items.

§ 108. The total fee for the accounting year for the audit undertaking performing the statutory audits and the subsidiary of the audit undertaking ' s subsidiary undertakings. The information must be specified in fees for statutory audits of the annual accounts, fees for other declarations of affidality, fee for tax and other benefits. For the one in 1. Act. the amounts specified shall be entered for the previous financial year accordingly.

Paragraph 2. A company may fail to provide the information provided for in paragraph 1. 1 if the company ' s accounts at full consolidation are included in a group accounting records in which the data is given to the group as a whole, and the group accounts are produced by a parent undertaking governed by the legislation of an EU/EEA country.

-109. The company ' s accounts shall indicate the main tax costs or tax revenue elements.

Paragraph 2. The company must provide a statement of the relationship between tax revenue or revenue and accounting results in one of or both of the following :

1) A numerical vote of tax revenue or tax revenue and accounting results multiplied by the tax rate in force, showing the basis on which the tax rate in force has been discharged.

2) A numerical vote of the average effective tax rate and tax rate applicable to show the basis on which the tax rate in force has been established.

Paragraph 3. For each type of temporary difference, fiscal deficit and unutilized tax deduction shall give the amount of the tax deduction to :

1) The tax evasion and tax obligations that are in the balance sheet.

2) Tax revenue or tax cost calculated in the profit and loss account if this is not clearly apparent from the changes in the balance that is in the balance sheet.

Life Insurance Contracts

§ 110. The distribution of the fractional premiums on direct and indirect insurance and investment contracts must be reported. In the case of direct contracts, the gross premiums shall be allocated to :

1) Continuous prizes and one-night premiums.

2) Pre-premiums for group life contracts and premiums for other insurance and investment contracts. The premiums for other insurance and investment contracts shall be distributed on an individual signed contract and contracts drawn up in the context of an employment relationship.

3) Contracts with the right to bonuses, contracts with no right to bonuses and contracts where the investment risk is borne by the policyholder.

Paragraph 2. The number of insured at the end of the accounting year is covered in each of the 3 groups of contracts referred to in paragraph 1. 1, no. 2, must be reported.

Paragraph 3. The fractional premiums for direct insurance and investment contracts shall be allocated according to the place of residence of the holders of the insurance ;

1) Denmark.

2) Other EU countries.

3) Other countries.

§ 111. The principles that the company uses for the sharing of the successful result, cf. the notification of the principle of contribulation shall be described. In this context, the size of the resulting result of the year and the distribution of the amount shall be given. Has the own funds due to an inadequate result of the year, or in previous years, a smaller part of the realization that the principles are attributable to, and the company is entitled to rectify this in the distribution of the next year, this information shall indicate the amount expected to be able to be attribuable to the own funds in addition to what the principles otherwise would give rise to.

§ 112. The share (the free holdup) of the otherwise taxed return on pension tax on the basis of sections 7, 15 and 16 of the Pension Act of the Pension Act must be reported.

Indemency Insurance Contracts

§ 113. For at least the three main of the following classes of classes measured on the gross premium income, they shall be paid for the amount of the insurance class for the payment in question in paragraph 1. 4, no. 1-7, illufise :

1) Sick and insubordinate insurance.

2) Health insurance.

3) Health insurance.

4) Motor insurance, responsibility.

5) Motor insurance, camps.

6) Sis-, aviation and transport insurance.

7) Brand-and-run reinsurance (private).

8) Brand and Lion Insurance (occupation).

9) Owner-shift insurance.

10) Insurance policy.

11) Credit and bail insurance.

12) Legal insurance.

13) Tourist insurance.

14) Other direct insurance and proportional indirect insurance.

15) Non-proportional indirect insurance.

Paragraph 2. Classes 1-14 must include proportional indirect insurance.

Paragraph 3. Insurance contracts which cover risks that may be applied to several of the measures referred to in paragraph 1. 1 led classes shall be assigned to the class of insurance under which the principal part of the risk is a matter.

Paragraph 4. The amounts to be paid pursuant to paragraph 1. 1 shall be distributed among the individual insurance classes, as follows :

1) Frac-ramier.

2) Gross premiums.

3) Gross Replacement Expenses.

4) Gross operating costs.

5) Result of business.

6) Insurance technology interest, for example.

7) Insurance-class result.

Paragraph 5. The amount referred to in paragraph 1. 4, no. 4, must be shown prior to deduction of commissions and gains from reinsurance undertakings which are covered by paragraph 1. 4, no. 5.

Paragraph 6. The amounts referred to in paragraph 1. In all cases, 4 shall be reported on each of the cases referred to in paragraph 1. 1, no. 1-13 class classes listed, where the gross premiums exceed 70 million. DKK Grow the gross premiums revenue for non-proportional indirect insurance, cf. paragraph 1, no. 15, less than 10%. the total gross premiums paid for these insurance contracts may be combined with the amounts for other direct insurance, cf. paragraph 1, no. Fourteen, under the term "Other Insurance". If this aggregation is made, the gross premiums for non-proportional indirect insurance shall be provided separately. The sum of the amounts given in accordance with paragraph 1. 1 and 4 shall correspond to the amounts entered in the profit and loss account, which shall not be assigned to one of the insurance classes under paragraph 1. 1, no. 1 to 13 or 15 shall be applied to ' Other direct insurance and proportional indirect insurance ' / ' Other insurance `, cf. paragraph 1, no. 14.

Paragraph 7. Gross premium revenues for indirect insurance shall be distributed on non-life insurance and life insurance.

Paragraph 8. The use of direct insurance premiums for direct insurance should be distributed geographically according to the location of the risk. In determining the location of the risk, the definition in section 4 of the Financial allowance shall be used for the congruination and localization of the congruination. Gross premium revenues shall be allocated at least in the following areas :

1) Denmark.

2) Other EU countries.

3) Other countries.

§ 114. The following information shall be provided on the evolution of the replacements by the classes specified in section 113 (3). 1 :

1) The number of replacements.

2) Average damages for imploded damage.

3) The replacement frequency.

Cearest parties, etc.

§ 115. The amount of loans to and furnishings, guarantee or guarantee vouch for members of the management board of the company or its parent undertakings shall be declared for each category of information relating to the most essential conditions, including : interest-rate and the amount paid in the year.

Paragraph 2. The provision in paragraph 1 shall be Paragraph 1 shall not apply to loans and securities for the acquisition of shares in the company or to the company ' s personnel or its subsidiary undertakings.

Paragraph 3. The provision in paragraph 1 shall be Paragraph 1 shall also apply to the deposits and the guarantee of a nutritionary to the presence of those referred to in paragraph 1. 1 mentioned persons.

Paragraph 4. In exceptional cases, where a company's representative is not a small executive body, the information shall be able to do so in accordance with paragraph 1. 1 and 3 are omitted.

§ 116. The average number of full-time workers must be provided for the financial year. The staff costs must be reported and specified on wages, pensions, pensions, other social security costs, calculated on the basis of the staff count or the salary sum.

Paragraph 2. The company must provide a separate setting of the total remuneration for the financial year at present and former members of

1) the management,

2) the Board and

3) employees whose activities have a significant impact on the company ' s risk profile.

Paragraph 3. For each of the three groups referred to in paragraph 1, 2 must specify the number of persons covered by the group and the allocation of remuneration on a fixed and variable salary. In addition, the company must specify the total commitments to grant pensions to the said groups. If special incentive programmes have been set for members of the Management Group, it must be reported to which the application of the programme includes the benefits and what is necessary in order to assess the value of this programme.

§ 117. The company must provide the name and location of the parent undertakings, including foreign mother-undertakings, to draw up the group accounts for the largest and minimum enterprise in which the undertaking is included as a subsidiary, and where they : corporate accounts etc. may be requested by foreign parent companies.

§ 118. The name, location and legal form of major subsidiaries and affiliated undertakings shall be reported with the activity of the undertaking concerned. For each undertaking, indicate the proportion of the property owned and the amount of the undertaking ' s own funds and results according to the latest annual report. This information can be provided in the form of a group chart.

Paragraph 2. When a subsidiary is parent company in a group, the information requirement shall be laid down in paragraph 1. Paragraph 1 shall not apply to subsidiaries and affiliated undertakings to this undertaking.

§ 119. The transactions and agreements between the firm and nearby parties must be reported, including the basis for the connection with the neighbouring parties concerned.

Paragraph 2. Except the information provided for in paragraph 1. 1 and § 120 must be provided on the presence of the nearby parties who have a firm influence on the company. The information shall include the name, place of residence, for the seat of undertakings, and the basis of the bogey influence.

§ 120. Whereas, in the case of a special register of holdings covered by company law, section 55 and § 56, the company must indicate who, at the time of the presentation of the annual report, be included in the special register, specifying full name and place of residence ; or to the business location of undertakings.

Corporate capital

§ 121. In the case of limited liability companies, the quantity and the value of the shares must be entered. If the share capital of several classes should be specified, these must be specified and the number of shares and their denomnifying values must be specified for each class.

§ 122. If the undertaking has accepted loans against the issue of convertible debacies, the amount of such loans shall be reported to the outside, exchange rate and the fixed deadline for the exchange of shares. The same applies to the drawing-drawing (warrants) character.

Paragraph 2. Where loans are taken against debt securities or other debt securities with the right to interest the size or part of which is dependent on the yield from the company ' s shares of the company or by the profit of the year, for each loan, the amount of the loan outstanding shall be given ; and the agreed-upon enforts.

§ 123. In the case of the company ' s holdings of own shares, the information :

1) The number and concurrent value of own shares included in the company ' s inventory and the percentage to which the inventory is made by the shareholding capacity.

2) The number and concurrent value of the own shares acquired or disposed of in the accounting year and the percentage of which they constitute of the share capital, as well as the amount of the total purchase and sales sum.

3) The reason given to the acquisitions of own shares that have been made during the financial year.

Paragraph 2. The people in paragraph 3. 1 discounting information shall be given separately for shares acquired for possession or furant.

Paragraph 3. The information provided in paragraph 1 1 and 2 shall be equivalent to shares of the undertaking forming part of the subsidiaries ' s holdings or are acquired or disposed of by subsidiaries during the financial year.

§ 124. It must be reported to what extent a possible safety fund is devoted to untaxed funds, as well as the purpose of the security fund following the company ' s statutes are bound.

§ 125. A possible difference between the core and base capital, cf. § § 128-138 of the Act of Finance, and the own funds according to the balance sheet must be specified.

Sensitive Information

§ 126. Companies operating life-assurance must provide information on sensitivity to the risks in accordance with the table in Appendix 15. The information need not be provided with comparison figures, cf. Section 5 (5). 3.

§ 127. Companies operating non-life insurance shall provide information on sensitivity to the risks in accordance with the table in Annex 16. The information need not be provided with comparison figures, cf. Section 5 (5). 3.

Chapter 5

Management Report

§ 128. The management report shall

1) describe the business activities of the establishment,

2) describe the uncertainty about the calculation and measurement as far as possible with the indication of amounts,

3) describe unusual circumstances which may have affected the check or measure as far as possible with the indication of amounts,

4) account for the development of the undertaking ' s activities and economic conditions ;

5) mention significant events that have been taken after the closure of the financial year,

6) describe the expected development of the company, including specific preconditions and insecure factors that the management has provided for the description,

7) describe the company's knowledge resources if they are of particular importance for the future earnings,

8) describe the particular risks, including business and financial risks, which the undertaking may be affected by ;

9) description of research and development activities in or for the enterprise ; and

10) mention activities and branches abroad.

§ 128 a. The Management Report shall contain information on the amount at the end of the financial year for the undertaking ' s capital requirements, cf. section 127 of the financial undertaking, as well as the size of the company's individual solvency requirements, cf. § 126, paragraph 1. Article 8, in the Act of Financial Company, and account for the manner in which the amounts are calculated. The corresponding amounts for the year preceding the comparison shall be given.

§ 129. The Executive Report shall describe the results of the year together with the anticipated trend in accordance with the latest published annual report, or, according to the latest published in the year, published expectations, and justify deviations in the outcome of the year ; here.

§ 129 a. Information on the leadership requirements of the company ' s governing board and management members in other business operators must be reported, with the exception of Leadership Shell in the company ' s own 100%. owned subsidiaries. If that member is in the management of another parent company as one or more of the 100% of its shall be one or more. Owned subsidiaries, it is no matter one. Act. suffix to provide the name of this parent undertaking and the number of its subsidiaries in which the person concerned is a management member.

$130. The Management Report shall include the Management Board ' s proposals for profit. The amount shall be given as a separate item in the own funds.

§ 130 a. A company that has one or more share classes with associated voting rights in a regulated market in an EU/EEA country shall complement the management report with information which creates transparency on the company ' s relationship with the purpose of promoting the free circulation of the company ' s shares. This information shall include the following :

1) Contain on company capital structure as well as ownership, including

a) the number of shares with attached voting rights and their denunciation of values,

b) the share of shares of affiliated voting rights which are not available for listing or trade in a stock exchange, an authorised market place or equivalent regulated market in an EU/EEA country,

c) a specification of the different shareclasses as specified in § 121, if the company has multiple shareholdings, and

d) information on the full name and place of residence, or of undertakings located, and the exact owner and stamping part of any person recorded in the special register of shares held in Section 120 of the company.

2) Information that is known to the company,

a) the rights and obligations associated with each stock class,

b) limitations of the transferability of shares and

c) the restrictions on the right to vote.

3) Rules for the designation and replacement of members of the company ' s board of directors, as well as for the amendment of the company ' s statutes.

4) The powers of the board, especially as regards the possibility of issuing shares, cf. section 155, or to acquire own shares, cf. Company Law, 198.

5) Any agreements concluded by the company which are effective shall be amended or expire if the control of the company is amended as a result of a successful takeover bids, and its effects. Information after 1. Act. however, may be omitted if the disclosure of information will be severely damaged by the company, unless the undertaking is expressly obliged to pass on such information under other legislation. Examination of information after 2. Act. shall be mentioned.

6) Agreements between the company and its management or staff, after which compensation is received if they are deprived or dismissed without a valid reason or their position as a result of a takeover bids.

Paragraph 2. Companies which are subject to paragraph 1. 1 may not provide information as provided for in § § 120 and 121.

§ 131. A company which has securities admitted to trade in a regulated market in an EU/EEA country must include a company management statement covering the following :

1) Information on whether the company is subject to a corporate governance code, with reference to the code of conduct which the undertaking may be covered.

2) Indication of where it is in point The code referred to shall be publicly available.

3) Indication of which parts of the item in paragraph 1 The code of conduct, the undertaking is derogating from, and the reasons for this, if the firm has decided to derogate from part of the code.

4) Indication of the reasons why the company does not use it in paragraph 1. 1. If the establishment has decided not to apply the code, the code shall be applied.

5) Reference to any other company management codes that the company has decided to apply in addition to or instead of the company ' s office. the code referred to in paragraph 1 or as a voluntary undertaking, specifying the same information as those referred to in paragraph 1. 2 and 3 led.

6) Description of the main components of the company ' s internal control and risk management systems in connection with the clearance of the accounts.

7) Description of the composition of the management bodies of the establishment and their committees as well as their function.

Paragraph 2. A company which is subject to paragraph 1. 1 and which alone have securities other than shares admitted to trade in a regulated market in a EU/EEA country, shall not give the products listed in paragraph 1. 1, no. The information referred to shall be 1-5 and 7, unless the company concerned shares shares in a multilateral trading facility in an EU/EEA country.

Paragraph 3. The decision to be taken pursuant to paragraph 1 1 shall be given in the context of the information referred to in Article 130 (a) in the management report, cf. however, paragraph 1 4.

Paragraph 4. The undertaking shall be unable to include the report pursuant to paragraph 1. 1 in the management report, if the management report contains a reference to the company's website, where the statement has been published. Publication on the company's home page assumes that the business fulfils the requirements of the Enterprise and Corporate Management Board announcing the publication of the corporate governance statement and the statement of social responsibility in the Community ; the company ' s home page, etc., with the necessary adjustments.

§ 132. A company that has securities admitted to trade in a regulated market in an EU/EEA country, as well as companies operating life-insurance, must complement the management report with a statement of social responsibility, cf. paragraph 2-6. For the purposes of social responsibility, companies are voluntarily integrating into other human rights, social conditions, environmental and climatic conditions, as well as the fight against corruption in their business strategy and business activities. If the company does not have social responsibility policies, this must be stated.

Paragraph 2. The statement shall contain information on :

1) Corporate policies for social responsibility, including possible standards, guidelines, or principles of social responsibility that the company uses.

2) How the company replaces its social responsibility policies to actions, including any systems or procedures for this.

3) The company ' s assessment of what has been achieved as a result of your company's work with social responsibility, as well as any expectations of your work in the future.

Paragraph 3. The decision shall be made in connection with the management report. However, the company may choose to give the account :

1) in a supplementary report to the annual report, cf. section 190 in the Act of Finance, for which reference is made in the management report, or

2) on the company ' s website to which reference is made to the management report.

Paragraph 4. Publication of the exposition in accordance with paragraph 1. 2, no. 1 or 2, assuming that the undertaking meets the requirements for this as provided for in the announcement by the Corporate and Corporate Management Declaration on the publication of the corporate governance statement and the statement of social responsibility on the company's website, etc., with the necessary adjustments. § 193. 3. ., in the case of financial activities, the corresponding application shall apply to the account in cases where the statement is published elsewhere other than in the management report.

Paragraph 5. In the case of undertakings producing group accounts, the information requirements shall be sufficiently provided for in paragraph 1. 1 and 2 shall be given to the group as a whole.

Paragraph 6. A subsidiary that forms part of a group cannot include the information in its own management report if :

1) the parent undertaking meets the requirements of paragraph 1. 1 and 2 for the total group, or

2) The mother company has prepared a progress report in connection with the connection to the United Nations Global Impact or UN Principles for responsible investments.

Paragraph 7. A company which has prepared a progress report in connection with the connection to the UN' s Global Compact or the United Nations ' principles of responsible investment may not provide the information set out in paragraph 1. 1 and 2. The company must indicate in the management report that it uses this exception and specify where the report is publicly available.

TITLE III

Corporate Accounts and acquisitions

Chapter 6

Construction of group accounts

Duty to report group accounts

§ 133. The Agency ' s annual report shall contain a group account, unless otherwise provided by Clause 134 and § 136.

§ 134. A parent undertaking whose debt or self-capital instruments is not available for trade in a regulated market may not be used to draw up group accounts if it is a subsidiary of a higher parent undertaking which is governed by the law ; in an EU country or in another country with which the Community has concluded agreements ; and

1) the higher parent undertaking,

a) possess at least 90%. of the capital shares of the lower parent undertaking and the minority participants in respect of the senior management of this parent undertaking, that it does not leave the group accounts ; or

b) possess less than 90%. in the case of the capital shares of the lower parent undertaking and its supreme management not within six months of the expiry of the financial year, of minority participants who own at least 10% of the financial year. by the company capital, have received a call for the establishment of group accounts ; and

2) the account shall be drawn up by the higher parent undertaking in accordance with the legislation of the Member State to which the higher parent companies are included, and the group accounts shall be reviewed by persons authorized in accordance with this Member State ; legislation.

Paragraph 2. In addition, a parent undertaking whose debt or self-capital instruments is not available for trade in a regulated market may not be included in the group accounts if it is a subsidiary of a higher parent undertaking, which is a matter for the Member of the European Union ; the law of a country which is not governed by the law of a country of the European Union or in another country with which the Community has concluded agreements ; and

1) the senior management of the lower parent undertaking not within six months of the expiry of the financial year prior to the expiry of the financial year have received a call for the establishment of group accounts, and

2) group accounts shall be drawn up in accordance with the Council 7. Directive or by rules, which are at least equal to the rules of consolidated annual accounts of the said Directive, and are audited by persons authorized under the national legislation under which it is higher ; parent business is the business.

Paragraph 3. For the provisions of paragraph 1. 1 and 2 of exceptional exceptional cases shall also be required to :

1) the accounts of the lower parent undertaking and its subsidiary undertakings shall be included in the group accounts of the higher parent undertaking,

2) the lower parent undertaking in its annual accounts illus that it shall be informed pursuant to paragraph 1. Paragraph 1 or paragraph 1. 2 have failed to draw up group accounts and provide the name, location and registration number (CVR) number or registration number for the higher parent undertaking ; and

3) the lower parent undertaking, together with its annual accounts, shall submit it in paragraph 1. 1 and 2 of the Financial supervision (1) and additional information referred to in the Financial Regulation and the additional information to be required by the Financial Regulation.

§ 135. If a parent company may refrain from paying the group accounts, however, such a non-exclusive use of the company ' s own use shall be subject to the application of this notice of the use of the company.

Recreation of the consolidation

§ 136. All subsidiaries, cf. Section 5 (5). 1, no. 8, in the law of financial activities, shall be included in the group accounts at full consolidation.

Paragraph 2. A subsidiary in section 10 on assets in temporary possession shall be included in the group accounts in accordance with paragraph 1. 3.

Paragraph 3. Assets and obligations in subsidiaries covered by paragraph 1. The two shall be collected as a separate item on the stock side and the passieside of the balance of the group accounts. The result of the subsidiary shall be taken into account as a separate item in the profit and loss account of the group.

General requirements for the group accounts

§ 137. The accounting records shall show the assets and liabilities of the consolidated companies, their financial position, their result and other total income and the movement of the own funds as if they were a single company together.

Paragraph 2. When the consolidation is consolidated, the accounts shall be drawn up, so that uniform revenue and costs, and assets and liabilities shall be grouptogether. There must be adjustments necessary because of the special circumstances that apply to group accounts to the difference between annual accounts.

Paragraph 3. Corporate companies for which the conglomers are established during the financial year shall be included in the conception of the revenues and the costs of transactions and conditions arising after the date of establishment of the group.

Paragraph 4. Corporate companies for which the conglomers are to end during the financial year shall be included in the conception of the revenues and the cost of transactions and conditions which have occurred until the end of the date of contention.

§ 138. The balance of profit and balance of accounts and balance shall be drawn up in accordance with Appendix 2 to 5 and to the rules for classification and the position of the group ' s main activity. In groups where non-life business and life assurance business are of significant size, the results inventory shall be used in Appendix 5. If the size of non-life insurance is insignificant, the table in Annex 3 may be used.

Paragraph 2. For groups engaged in activities that are not fit to fit in the accounting records shown in Appendix 2-5, the additional items may be added to the rules in section 4 (4). 2.

Paragraph 3. Motherundertakings covered by Section 1 (1). 1, no. 3, may, upon authorization of the Financial supervision, derogate from the rules in section 4 (4). 2, by adjusting the presentation of the performance balance of the group accounts and the balance to activities that cannot be accommodates in the accounting records of Appendix 2-5.

Paragraph 4. The proportion of the mineral holdings of the own funds of the subsidiary undertakings shall be shown as a separate item under own funds. The proportion of the mineral holdings of its subsidiaries and other total income are related to the profit and loss of income. Ghosts on the own funds, cf. section 39, separate the share of the parent company and minority interests of total total income.

§ 139. The assets and liabilities included in the consolidation and revenue and costs shall be calculated and measured according to uniform methods in accordance with the provisions of this notice.

Paragraph 2. The group ' s accounts shall apply as far as possible the same methods for the calculation and the basis for measurement as in the annual accounts of the parent undertaking. Applies consolidated subsidiaries to other methods and basis in their own annual accounts, a new account shall be drawn up for the group ' s accounts, which shall be taken into account and measured in accordance with the methods and bases used in : The corporate accounts. Applies associated and common controlled undertakings other methods and grounds in their own annual accounts shall be required to adapt the associated and equity capital of undertakings to the establishment and equity of the undertakings, so that they are taken into account ; are measured in accordance with the methods and bases used in the group accounts.

Paragraph 3. Affiliates and joint controlled undertakings shall be included and measured in the group accounts according to the method of the internal value, cf. however, paragraph 1 4 and 5.

Paragraph 4. A joint controlled undertaking may be included in the group accounts at the pro rata consolidation. The items in the joint controlled undertaking shall be included in the proportion of the shares of the consolidated undertakings of the undertaking ' s own funds and the result. A joint controlled enterprise, which becomes an associated enterprise, is calculated and measured by the method of the inner value, cf. paragraph 3.

Paragraph 5. Assets and Commitment in Affiliates, Associates and Joint Controlled Companies, which are temporary in the company's possession and awaiting sales within a short period of time and where a sale is very likely, cf. § 10, is measured to the lowest value of accounting value and daily value deduced sales costs.

Paragraph 6. No depreciation shall be carried out on assets of subsidiaries, affiliated and joint supervised establishments covered by paragraph 1. 5.

§ 140. The following items shall be eliminated :

1) Accounts receivable and obligations between consolidated undertakings.

2) Income and cost as a result of transactions between consolidated undertakings.

3) Gains and losses as a result of transactions between consolidated companies that are included in the accounting value of the postal services.

§ 141. The annual report ' s management report, the statement of the accounting practices and the notes on the group accounts shall include information on the group as though the consolidated undertakings combined were one company. The provisions laid down in this notice for the management report, the accounts of the accounting practices and notes shall apply mutatis mutations to the group accounts.

Chapter 7

Corporate takeovers and mergers and so on

§ 142. When taking over another undertaking by merger or by taking on a business activity, the inherited assets and obligations of the business or business activity to day value shall be measured at the time of the acquisition.

Paragraph 2. Any positive difference between the total cost price and the value of net assets at the time of acquisition shall be included in the balance sheet under asset mail ; YOU. Intangible assets The mail is called. Goodwill .

Paragraph 3. Goodwill is estimated at each clearance of accounts and written in the event of a depreciation of values.

Paragraph 4. Any negative difference between the total cost of the total cost and net value of the net assets at the time of acquisition shall be calculated as a revenue in the profit and loss account.

Paragraph 5. Paraguation of 1 to 4 shall apply mutatis muctis to the group ' s annual accounts in the acquisition of a subsidiary, cf. however, paragraph 1 2.

§ 143. If two undertakings which are either merging or establishing a group relationship, are both subject to the same parent company in a group relationship or, incidentally, are subject to the influence of the same interest, may the concentration or the group ' s loss shall be subject to the same parent activity. be treated according to the merger method, cf. paragraph 3.

Paragraph 2. The method of association may, by the way, be used in the case of company takeovers or mergers that involve mutual companies or pension funds only in the case of company takeovers or mergers.

Paragraph 3. After the merger procedure, the accounts shall be paid to the group accounts, respectively, for the period during which the merger has been made, as though the companies had been together with the earliest accounting period involved in the accounts. The difference between the sum paid for capital as well as possible overhead with the addendum of any cash payment and the accounting internal value of the inherited company shall be attributed clearly to the accounts of the company concerned ; reserves which may be used to cover deficits.

Fusion Accounting and so on

§ 144. Where a concentration or similar provisions in legislation are drawn up in accordance with the provisions of the legislation, they shall be drawn up in accordance with the rules laid down in section 142 or section 143.

TITLE IV

Partial reports

Chapter 8

Preparation of the semi-annual report

§ 145. The half-annual report, cf. Section 2 shall contain results and other total income for the period 1. January to 30. June, with comparison figures from the corresponding six-year period of the year before and balance per year. 30. June with comparison figures from the balance at the end of the year before. If the company is newsfound and has not produced its first annual report, the profit and loss account shall cover the period from the foundation to 30. The comparison number of the June and the balance sheet must be from the company's opening balance sheet. The result-rate and balance sheet figures shall be made in accordance with the rules of the annual report and shall be drawn up in accordance with Annex 2-5.

Paragraph 2. For undertakings whose annual report is to contain a group accounts, the half-yearly report shall include a mid-year group accounts drawn up in accordance with paragraph 1. 1.

Paragraph 3. The Semi-annual report, including the annual accounts on a semi-annual basis, shall contain a management report, which at least describes important events that have occurred in the case of the indication of the importance that they have for the accounting figures. The Management Report shall also describe the main risks and non-safety factors which the undertaking is subject to the remaining six months of the financial year. If there has been a larger transaction with close quarters, these shall be described.

Paragraph 4. The Semi-annual report, including the mid-year accounting records, shall include the comments, key figures and the specifications for the accounting figures necessary to describe and explain the progress of the period. The company must indicate whether accounting practice has been unaltered in relation to the accounting practice of the latest submitted annual report. In the case of a change in the accounting practice of the character of the change and to apply the amount of the amount to be carried out on the business ' s performance and own funds.

Paragraph 5. If the half-year report has been revised, the audit shall be given in its entirety in its entirety in the report. The same applies if there is a reviewdeclaration from the auditor. If the semiannual report has not been subject to review or review, this must be stated in the report.

Paragraph 6. The Semi-annual report shall include a management drawing that meets the requirements of section 185 of the Act of Financial Company.

Paragraph 7. The five-year report shall be submitted to the Financial supervision by 31. August. The five-year report shall be publicly available, for example, at the company ' s Internet address, or by interested in the submission of the half-year report or sent by inquiries to the establishment.

Preparation of quarterly reports

§ 145 a. If the company publishes quarterly reports, these must be drawn up in accordance with the rules laid down in Article 145 (3). One to six, with the adaptations which needed to be made by the fact that this is a quarterly report and not a half-yearly report. However, a parent undertaking shall not include its own accounts, so that the quarterly report only includes the group accounts on a quarterly basis.

Paragraph 2. The financial information published by the establishment may not be designated quarterly reports unless they meet the requirements laid down in paragraph 1. 1 or the requirements of a partial annual report following international accounting standards, cf. Section 1 (1). 2.

Paragraph 3. Any quarterly reports shall be submitted to the Financial supervision immediately following that of its publication.

Section V

Criminal provisions and entry into force and transitional provisions

Chapter 9

Penalty provisions

§ 146. Intentional or gross negligence violation of sections 2 to 39, section 41-81, 83-90 or 91 a-145 a penalty penalty.

Chapter 10

Entry into force and transitional provisions

147. The announcement shall enter into force on the 15th. In January 2011, the first time shall apply to annual and partial annual reports for financial years beginning 1. January, 2011. However, the announcement may, however, notwithstanding paragraph 1. 8 shall also be applied to the 2010 annual report. If the provisions of this notice deviating from the provisions of the notice shall be no. 1310 of 16. In December 2008, not in their entirety on the annual report 2010, this must be entered in the section on the accounting practice, specifying the provisions of this publication that has been applied in the past.

Paragraph 2. The rules laid down in this notice on account and measurement of inherited assets and undertakings in respect of company takeovers and mergers and so forth shall not apply to takeovers and mergers and other concentrations, etc., which have taken place before 1. January 2005.

Paragraph 3. Goodwill, who had to be in the balance a year. 31. In December 2004, according to previously applicable rules, shall no longer be written in accordance with the provisions applicable as it was considered, but shall be assessed for degradation in accordance with the provisions of this notice and shall be assessed by 1. January 2004.

Paragraph 4. The rules in this notice on the equity-based remuneration shall apply only to programmes established under the 1. January 2004. For applications established before the 1. In January 2004, the company may choose to allow the provisions of this notice to apply. If the programme is established on 7. However, the company may, in January 2002 or earlier, apply the provisions of the notice if the establishment ' s fair value at the time of establishment has been enlightened.

Paragraph 5. Amendment of the methods of taking into account and measuring intangible assets, cf. sections 60 and 61 may occur in such a way that only the circumstances of the financial year 2003 and later are taken into account and measured in accordance with the rules of the notice.

Paragraph 6. For undertakings which have previously submitted annual accounts following the notification of the financial accounts of the indemnity accounts, the requirement that the omission of the domicitential should be calculated in the cardable position shall be taken into account, Revaluation reserve only use on the part of the depreciation amount, which is higher than the highest of the following amounts :

1) The value to which the property concerned was employed in the annual accounts on which the executive order is published. 723 of 27. In November 1989 on the annual accounts of the indemnitiaries last time, it was applied.

2) Acquisition price.

Paragraph 7. For undertakings which have previously submitted annual accounts for the proclamations of the annual accounts of the annual accounts of life assurance undertakings and the annual accounts of the life-assurance undertakings, the requirement that the omission of the domicitential should be included in the post office shall be deemed to be the same as : Revaluation reserve only use on the part of the depreciation amount which lies beyond the value of the daily value per day ; 31. December 2003.

Paragraph 8. Financial sitsy notice no. 1310 of 16. In December 2008 on financial reports for insurance undertakings and transverse pension funds are hereby repealed. However, the decision shall apply to annual reports relating to the financial year 2010, cf. however, paragraph 1 1.

Financial supervision, the 11th. January, 2011

Ulrik Nutgaard

/ Flemming Petersen

List of Annexes

Appendix 1 :	Definitions

Appendix 2 :	Balance Schema

Appendix 3 :	Life Insurance Result Account Schema

Appendix 4 :	Damascus loss rate scheme

Appendix 5 :	Result statement schema for conglare

Appendix 6 :	Concepts used by transverse pension funds

Appendix 7 :	Measurement of the property's daily value

Appendix 8 :	Commitating rates for the measurement of insurance commitments

Appendix 9 :	5-year overview of the main and key figures for enterprises operating life-assurance activities

Appendix 10 :	Five-year overview of the main and key figures for companies operating non-life-insurance undertakings

Appendix 11 :	Specification of Assets

Appendix 12 :	Rules for the fulfilment of the table in Appendix 11

Appendix 13 :	Specification of capital shares, including capital shares in investment associations,

Appendix 14 :	Rules for the fulfilment of the table in Appendix 13

Appendix 15 :	Schema for sensitivity information for companies that run life-insurance business

Appendix 16 :	Schema for sensitivity information for companies that operate non-life-insurance business

Appendix 17 :	Table of Contents

Appendix 1

Definitions

1. Financial leasing :

Lease Agreement, which transfers all major risks and benefits associated with the ownership of an asset without regard to whether ownership is assigned at the end of the lease period or not.

2. Functional currency :

The currency in force in the economic surroundings, such as the accounting department or unit within this primary operation in.

3. Joint-controlled enterprise :

A joint controlled undertaking is a joint venture involving the establishment of an establishment on the basis of an agreement between the participants, which shall determine the impact of a joint decision on business activity by the participants.

4. Non-monetary items :

Assets and obligations that are not monetary items.

5. Monetary records :

Likessed holdings, assets and obligations, including committed commitments that are settled in determined or determinant amounts.

6. Member of the Commission.

a) People or undertakings, one of which directly or indirectly has a determinant or significant influence on the operating and financial management of other persons or others, or

b) a number of persons or undertakings whose operational or financial management is governed by a bogey influence of the same person or company.

7. Operational leasing :

Lease Agreement that is not a financial lease.

8. Presentation Currency :

The currency in which an annual accounts are paid.

9. Enrycondition :

a) Safety of day value : a protection against the risk of fluctuations in the daily value of an active asset, a commitment or an agreed non-enrained future payment for goods or services.

b) Security of payment flows : A safeguard against the risk of changes in the payment flows associated with depositing assets or commitments, or to very likely future transactions, and which may impact future accounting results.

c) Securing the investment in a foreign entity.

10. Associated Companies :

The subsidiary of a company, its parent companies and their subsidiaries.

11 Currency Differences Differences :

The difference that comes at the conversion of a given amount in a currency to another currency by different exchange rates.

Elements of the annual report

Submitted financial instrument :

A financial instrument,

a) whose value changes as a result of changes in a specific interest rate, value trajectory, commodity price, exchange rate, price or interest rate index, credit rating, credit index, or similar variables (called sometimes the "underlying"),

b) which, in conclusion, does not require or require only a limited net investment in relation to other types of contracts that are affected by the same level of the changing market conditions ; and

c) which are taken into account at a future date.

13. Activate :

Resources that are under your control as a result of past events, and from which future economic benefits are expected to float to the company.

14th Domicilejendous :

The round and buildings that the company uses in their own service.

15. Event Assets :

A possible asset that originate from past events whose existence can only be confirmed by the fact that, or insecure, one or more unsafe future events that are not under the full control of the company.

16. Event Obligations :

a) a potential obligation arising from previous events whose existence can only be confirmed by the occurrence or not insure of one or more unsafe future events that are not under the full control of the undertaking, or

b) a current obligation arising from previous events, but not included, as (i) it is unlikely that the commitment to the obligation would entail a move to the undertaking ' s financial resources, or (ii) the size of the undertaking ; can not be measured with sufficient reliability,

17. Financial commitment :

Commitment in the form of

a) a contractual obligation to hand over liquidate or other financial asset to another party, or

b) a contractual obligation to exchange financial instruments with a different party on potentially unfavourable conditions at the time of assessment.

18. Financial asset :

An asset in the form of

a) liqueur positions,

b) a contractual right to receive cash or any other financial asset from another party,

c) a contractual right to exchange financial instruments with a different party to potentially favourable conditions at the time of assessment ; or

d) the equity capital instruments of another company.

19. Financial instrument :

A contract that constitutes a financial asset in a company and a financial obligation for another party or an own capital instrument in another company.

20. Obligations :

Existing duties for the enterprise have emerged as a result of past events and, if indablesion is expected to cause financial resources to be disburcted.

21. Committed commitment :

A sum covering obligations which are not certain for the size and / or the date of departure.

22nd Revenue :

The economic benefits of the financial period in the form of an approach or a valuation of assets or reductions in obligations resulting from the increase in own funds. However, revenues do not include deposits from owners.

Twenty-three. Investments out back.

Round and buildings acquired with a view to the return of the investment invested in the form of continuous operating yield and / or capital gains at resale.

24. Cost :

Settle in the financial benefits of the financial period, in the form of depreciation or degradation of assets or increases in obligations resulting from the selfless of the own funds. However, in costs, unloading or distribution to owners shall not be included.

Measurement

25 Amortised Cost :

The amount as a financial asset or financial commitment was measured at the first time of the first entry into account

a) deduction of payments ;

b) the total depreciation or deduction of the total depreciation of the amount originally calculated and the amount due at the end of the period, and

c) deduction of write-off.

The depreciation is calculated by means of the effective method of interest.

26. Daily value :

The amount of an asset can be converted into, or an obligation may be fulfilled, by a trade between qualified, willing and independent parties.

27. Recon Value :

The highest of a stock net sales price and its usefulness. This value is the current value of the expected future payment flows, which the asset is expected to depart in continued use and by the end of its use.

Insurance concepts

28. Expiration result :

The outcome of the drain is the difference between

a) the replacement claims in the balance sheet for the beginning of the accounting year, regulated for currency conversion differences and discontinuity effects ; and

b) the sum of the compensation payments provided for in the accounting year and the amount of the claims relating to damages incurred in previous financial years.

The company ' s indirect insurance shall result in the outcome of the results of the premium revenues and commissions for this business in the run-up to the result of the result of the result of the result of the result of profit

29th Cedent :

An insuring who has bought or asked for reinsurance coverage.

30. Combined ratio :

The sum of the replacement percentage, cf. Act. The 33, the cost percentage, cf. Act. 51 and net reinsurance percentage, cf. Act. 50.

the retrospective execution of each life assurance and investment contract :

Paid premiums with deduction of paid benefits, charges for costs, the risk and the addition of the attributed interest rate and so on shall be paid on each insurance.

32. The replacement frequency :

The number of implosion damages in the financial period in relation to the average number of insurance contracts, which were in force during the financial period.

33. Replacement Percentage :

The ratio of compensation costs and premium revenues. The premium income is reduced by bonus and premium rates.

34. Inv-indirect insurance :

Indirect insurance for individual risks where the reinsurance retains the possibility of accepting or rejecting every risk offered by the cedend, cf. Act. 29.

Thirty-five. Insurance assets :

An insurance company ' s net rights under an insurance contract.

36. Insurance event :

An unsafe future event that is covered by an insurance contract and which poses an insurance risk.

37. Insurance obligations :

An insurance undertaking ' s net obligations under an insurance contract, cf. Act. 38.

38. Insurance contract :

A contract, after which a part (the insurance undertaking) assumes significant risk of insurance from another party (the policyholder, cf. Act. 41 by willingly willing to compensate the policy holder if a specified non-display event (the event event, cf. Act. 36) have an unfavourable effect on the policy holder, cf. Act. 41.

39. Insurance provisions :

The technical provisions shall correspond to passivmail III. Provisions for insurance and investment contracts, in total.

40. Insurance risk :

Risk, other than financial risk transferred from the policyholder, cf. Act. 41, for the issuer of an insurance contract, cf. Act. 38.

41. Insurance Stoker :

The party entitled to compensation under an insurance contract, cf. Act. 38 if an insurance event, cf. Act. 36, hit.

42. Guaranteed free policy services for each life insurance and investment contract :

The present value of the services guaranteed to the policyholder, cf. Act. 41, in accordance with the contract for the release of the free policy, as well as the present value of the expected future expenditure on administration of the free policy.

43. Guaranteed benefits for each of the life insurance and investment contract :

The present value of the services guaranteed to the policyholder, cf. Act. 41, in accordance with the contract, as well as the present value of the expected future costs for managing the contract with deduction of the present value of the agreed future premiums.

Forty-four, average compensation for imploded injuries :

The proportion of the total compensation in relation to the number of replacements during the financial period.

45. Investment contract :

A contract that the insurance company has a concession to issue, cf. Annex 8, in the case of a financial undertaking, but does not contain sufficient insurance risk to be covered by the definition of insurance contracts, cf. Act. 38.

46. Life insurance assets :

Insurance company's net rights under a life insurance contract.

47. Life assurance obligations :

An insurance undertaking ' s net obligations under a life assurance contract.

48. for each insurance and investment contract, for each insurance and investment contract, the following shall be added to the withdrawn value :

The largest of the guaranteed benefits for each life insurance and investment contract, cf. no. 43, guaranteed free-policy services for each life insurance and investment contract, cf. no. Forty-two, and the value of the retrospective execution for each life insurance and investment contract (no. As a result of the contract's share of the risk to the total life assurance provision, 59), with a deduction of the contract's share of the anticipated future management result, in addition to the contract ' s share of the risk supplement, cf. no. 54.

49. Life Insurance Contract :

An insurance contract, which is covered by the definition of insurance contracts, cf. Act. 38, and as an insurance undertaking, have a concession to issue, cf. Annex 8 of the Act of Financial Regulation.

50. Net Reinsured Percent :

The relationship between reinsurance and premium revenues. The premium income is reduced by bonus and premium rates.

1st Cost Percentage :

The relationship between technical operational costs and premium revenues. The premium income is reduced by bonus and premium rates. The cost of the insurance operations shall be made up to the sum of the results headings 5.1. Acquisition costs and 5.2. Administration cost, cf. Annex 4, with deduction of depreciation and operating costs at the domicilejendous and addendum of the calculated costs (rent) relating to domicilejents based on a calculated market rent. The adjustment relating to domicients shall only cover the share of depreciation and operating costs relating to the insurance operations.

52. Operating ratio :

Calculated as the ratio of the ratio, cf. Act. 30, but based on the replacement, cost and net reinsurance percentages, where the allocated return on investment is similar to the amount that has been entered under the assurance of the profit in the profit and loss account (see. the number of item 2 in Annex 4 shall be paid to the award of the award in the denominator.

53. Relative Flow Result :

The outcome of the drain, cf. Act. Twenty-eight, in relation to the price translations it relates to.

54 Risk Addendum :

The estimated addendum in the market must be expected to pay to a business owner of the company ' s stock of life insurance and investment, in order to assume the risk of fluctuations in size and payment times for the guaranteed benefits.

Fifty-five grand prized prize money :

Repaid premium amount, for example, when insurance ends in a premium period.

Fifty-six damage-insurance assets :

An insurance undertaking ' s net rights under a non-insurance contract.

57. Damage assurance obligations :

The net liability of an insurance undertaking during a non-insurance contract.

58. Indemful Insurance Contract :

An insurance contract that is subject to both the definition of insurance contracts, cf. Act. 38, and the classes referred to in Annex 7 in the Act of Financial Regulation.

59, the value of the retrospective execution for each life insurance and investment contract :

The retrospective execution for each life assurance and investment contract, cf. no. The increase or reduction which may have been carried out in the distribution of reality results to the policyholder in accordance with the principles governing the distribution of implemented results that apply to the contract.

60. The value of guaranteed free-policy benefits :

The sum of the guaranteed free-policy services for each life assurance and investment contract, cf. no. Forty-two, except for the part of that which is listed under the Passivpost 10. Claims for claims, and in accordance with the risk addendum, cf. no. 54.

61. The value of guaranteed services :

The sum of the guaranteed benefits for each life insurance and investment contract, cf. no. Forty-three, except for the part of that which is listed under the Passivpost 10. Claims for claims, and in accordance with the risk addendum, cf. no. 54.

62. The value of retrospective provisions :

The sum of the value of the retrospective provision for each insurance and investment contract, cf. no. 59, with the deduction of the present value of an expected future management result, except for the part of which it is listed under the Passivoutpost 10. Claims for claims, and in accordance with the risk addendum, cf. no. The present time value of the expected future management result must be reduced by the probability of rewriting insurance and investment contracts.

Appendix 2

Balance Schema

ASSETS
YOU.	INTANGIBLE ASSETS
1.	Operating Fund
2.	Domicilejendous

II.	MATERIAL ASSETS, TOTAL
3.	Investment in the end
	4.1. Fund shares in affiliated undertakings
	4.2. Loans to affiliated undertakings
	4.3. Chapter shares of affiliated undertakings
	4.4. Loans for affiliated undertakings
4.	Investment in affiliated and affiliated undertakings,
	5.1. Capitalandele
	5.2. Investment associations
	5.3. Obligation
	5.4. Parts in collective investment
	5.5. Mortgage loan
	5.6. Other lending
	5.7. Loans in credit institutions
	5.8. Other
5.	Other financial investments, total
6.	Reinsurance deposits

III.	INVESTMENT INVESTMENTS TOTAL

LV.	INVESTMENTS ASSOCIATED WITH UNIT-CONTRACTS
	7.1. Reinsurance units of premium provisions
	7.2. Reinsurance holdings of life assurance provision
	7.3. Reinsurance units for claims for claims
	7.4. Other
7.	Reinsurance units for translations for insurance contracts, total
	8.1. Accounts receivable by policyholders
	8.2. Accounts receivable in insurance intermediaries
8.	Accounts receivable in connection with direct insurance contracts, total
9.	Accounts receivable in insurance undertakings
10.	Accounts receivable in affiliated undertakings
11.	Accounts receivable by affiliated undertakings
12.	Other debit

V.	ACCOUNTS RECEIVABLE, TOTAL
13.	Assets in Temporary Tenure
14.	Current Tax Assets
15.	Deferred Tax Exactivators
16.	Likaware Bepositions
17.	Other

WE.	OTHER ASSETS TOTAL
18.	interest-rate interest and rent
19.	Other periodebals

VII.	ACCRUALS, DEMARCATION ITEMS, TOTAL

ASSETS, TOTAL

LIABILITIES
1.	Asset or Guarantee Funds
2.	Overheading for emissions
3.	Revaluation reserve
	4.1. Security Fund
	4.2. Graduation provisions
	4.3. Other references
4.	Reserves, Total
5.	Inherit profit or deficit
6.	Proposed yield
7.	Minority interests

YOU.	CAPITAL, TOTAL

II.	ACCOUNTENANCE OF LOAN CAPITAL
8.	Premiehensions
	9.1. Guaranteed benefits
	9.2. Bonus potential in future premiums
	9.3. Bonus potential on free policeservices
9.	Life Insurance Provisions Total
10.	Claims for claims
11.	Collective Bonus Potential
12.	Bonuses for bonuses and premium rates
13.	Special Farusheners
14.	Provisions for unit-linked contracts

III.	PROVISIONS FOR INSURANCE AND INVESTMENT CONTRACTS
15.	Deferred Pension Tax
16.	Pensions and similar obligations
17.	Deferred Tax Responsibilities
18.	Other provisions

LV.	TOTAL COMMITABLE RESPONSIBILITIES

V.	REINSURANCE DEPOSITS
19.	Debt for direct insurance
20.	Credits for reinsurance
21.	Retigation loan
22.	Convertible debt letters
23.	Exchangeable debt relief
24.	Amounts for credit institutions
25.	Debt to affiliated undertakings
26.	Debt to affiliated organizations
27.	Current Tax Responsibilities
28.	Other Liability

WE.	DEBT, TOTAL

VII.	ACCRUALS AND DEMARCATION ITEMS

LIABILITIES, TOTAL

Appendix 3

Results of the resulting recovery scheme for life assurance undertakings

	1.1.	Gross premiums
	1.2.	Disclosed Insurance Premier
1.	Introdumier f.e.Sir, i alt
	2.1.	Income from affiliated undertakings
	2.2.	Income from affiliated undertakings
	2.3.	Investes on investment outlet
	2.4.	Interest income and yield and so on.
	2.5.	CursAdjustments
	2.6.	Interest Expense
	2.7.	Investment business management costs
2.	Investment Return on Total
3.	Pension Tax Tax
4.	Investment Return after retirement tax
	5.1.	Paid benefits
	5.2.	Received Reinsurance Recovery
	5.3.	Change in Claims Claims
	5.4.	Change in reinsurance portion of claims for claims
5.	Insurance services for example, sir, in total
	6.1.	Change in life assurance provision
	6.2.	Change in Reinsurance Share
6.	Change in life assurance for example, sir, in total
	7.1.	Signed bonus of the year
	7.2.	Change in Collective Bonus Potential
	7.3.	Change in Special Farushenments
7.	Bonus, total
8.	Change in provisions for unit-contracts contracts
	9.1.	Acquisition costs
	9.2.	Administration Costs
	9.3.	Provision and gains from reinsurance undertakings
9.	Insurance operating expenses, for example, sir, in total
10.	Inherit ROI
YOU.	INSURANCE TEXT RESULT
II.	INSURANCE / ACCIDENT INSURANCE (S)
11.	Investment return on capital
12.	Other revenue
13.	Other Cost
III.	SCORE BEFORE TAX
14.	Tax
LV.	YEAR OF THE YEAR

Appendix 4

Indemnification scheme for damage insurance undertakings

	1.1.	Gross premiums
	1.2.	Disclosed Insurance Premier
	1.3.	Change in premium provisions
	1.4.	Change in reinsurance share of premium provisions
1.	Pre-mieRevenue f.sir, total
2.	Insurance and sanitary interest
	3.1.	Repaid Replacement
	3.2.	Received Reinsurance Recovery
	3.3.	Change in Claims Claims
	3.4.	Change in reinsurance portion of claims for claims
3.	Substitution Expense, for example, in total
4.	Bonus and premium rates
	5.1.	Acquisition costs
	5.2.	Administration Costs
	5.3.	Provision and gains from reinsurance undertakings
5.	Insurance operating expenses, for example, sir, in total
YOU.	INSURANCE TEXT RESULT
	6.1.	Income from affiliated undertakings
	6.2.	Income from affiliated undertakings
	6.3.	Investes on investment outlet
	6.4.	Interest income and yield and so on.
	6.5.	CursAdjustments
	6.6.	Interest Expense
	6.7.	Investment business management costs
6.	Investment Return on Total
7.	Provision of technical provisions
II.	RETURN ON INVESTMENT BY POLICYSANITARY INTEREST
8.	Other revenue
9.	Other Cost
III.	SCORE BEFORE TAX
10.	Tax
LV.	YEAR OF THE YEAR

Appendix 5

Result statement schema for conglare

DAMAGE INSURANCE
	1.1.	Gross premiums
	1.2.	Disclosed Insurance Premier
	1.3.	Change in premium provisions
	1.4.	Change in reinsurance share of premium provisions
1.	IntrodumieRevenue, for example,
2.	Insurance technology interest, for example.
	3.1.	Repaid Replacement
	3.2.	Received Reinsurance Recovery
	3.3.	Change in Claims Claims
	3.4.	Change in reinsurance portion of claims for claims
3.	Substitution charges, for example,
4.	Amendment to other technical provisions for example, for example,
5.	Bonus and premium rates
	6.1.	Acquisition costs
	6.2.	Administration Costs
	6.3.	Provision and gains from reinsurance undertakings
6.	Insurance operating expenses, for example, sir, in total
YOU.	TECHNICAL RESULT OF DAMAGE INSURANCE

LIFE INSURANCE
	7.1.	Gross premiums
	7.2.	Regiven Reinsurance Premier
7.	Introdumier f.e.sir
8.	For example, return on investment returns, sir
	9.1.	Paid benefits
	9.2.	Received Reinsurance Recovery
	9.3.	Change in Claims Claims
	9.4.	Change in reinsurance portion of claims for claims
9.	Insurance services for example, sir.
	10.1.	Change in life assurance provision
	10.2.	Change in Reinsurance Share
10.	For example, change in life assurance provision, sir.
11.	Bonus
12.	Change in provisions for unit-contracts contracts
	13.1.	Acquisition costs
	13.2.	Administration Costs
	13.3.	Provision and gains from reinsurance undertakings
13.	Insurance operating expenses, for example, sir, in total
II.	TECHNICAL RESULT OF LIFE ASSURANCE

NON-ASSURANCE BUSINESS
14.	Technical result of damage insurance
15.	Technical result of life assurance
	16.1.	Income from affiliated undertakings
	16.2.	Investes on investment outlet
	16.3.	Interest income and yield and so on.
	16.4.	CursAdjustments
	16.5.	Interest Expense
	16.6.	Investment business management costs
16.	Investment Return on Total
17.	Insurance engineering interest transferred to non-life insurance
18.	Pension Tax Tax
19.	Return on investment transferred to life assurance
20.	Other revenue
21.	Other Cost
III.	SCORE BEFORE TAX
22.	Tax
LV.	YEAR OF THE YEAR

Appendix 6

Concepts used by transverse pension funds

The concepts of column 2 shall be used by transverse pension funds instead of the concepts specified in column 1 of the notice referred to in the notice, cf. Section 1 (1). 3.

Bekendtstatement	Transverse pension funds
Premier	Member contributions
Insurance Contracts	Pension agreements
Insurance provisions	Pension provisions
Life Insurance Provisions	Reimbursement provision
Insurance Services	Pension services
Insurance Company	Pension company
Insurance operating expenses	Retired operating expenses
Insurance text result	Pension Text Result
Reverse	Termination allowances
Insurance takers	Members
Bonus potential in future premiums	Bonus potential in future membership contributions
Bonus potential on free policeservices	Bonus potential on rested pensions
Insurance Risk Score	Risk Score
Customer Capital Severa	Member Capitalgrad
OwnerCapital Severity	Capital Severus

Appendix 7

Measurement of the property's daily value

Under sections 57 and 58, return on investment and domicients shall be measured at the time of day, the latter properties by means of a resonating model. This Annex describes the methods used to determine the daily value.

Where a property belongs to a uniform group of property that is regularly traded at published prices, the property value of the property shall be determined on the basis of this. This may be the case for small properties whose daily value may consequently be fixed at the published prices, cf. Act. 7. However, in most cases, the fair value of a property will, however, be calculated by applying recognised measurement methods, cf. below.

The value of a property can be calculated on the basis of

a) the method of caste, or

b) DCF method ("discounted cash flows").

Castoff Method

A property's daily value will be provided on the basis of the property's operating return and a property-related abrading (percentage).

The daily value is the ship-generated, multiplied by 100 and divided by the percentage, corresponding to the present value of an infinite annuity.

The projentive value may be corrected, if necessary, cf. Act. 3.

The operational return of a property is in accordance with the rules of the game. 1.

A property tax requirements (percentage of percentage) shall be determined in accordance with the provisions of the provisions of the provisions of the provisions of the Directive. 2.

1. Reimbursement of the Reimbursement of the Real Estate

The operational return of a property shall be such as :

+ Lease Revenue

-maintenance costs

-administrative expenses

-operating costs

= operational return

All of these sizes are made up on a yearly basis.

The lease income is based on the actual lease income over the next 12 months period in accordance with the tenancy contracts.

If it is estimated that the contract fixed rent differs significantly (+ /-10%) from the market rent, cf. below, however, the rent of the market shall be used instead of the contract provided for under contract.

In specific cases, a contractual lease may be included in the contract of rent, irrespective of the rent of the market. Such cases shall be available when the tenant may be considered solid and an insolvable long-term lease is available under which the tenant has committed itself to not requiring the rent reduced during a period of at least 10 years from the time of the time of recovery.

In the case of market rent, the rental of the areas concerned may be considered to be able to be taken (gen) to be purchased within a time frame of six months, taking into account the knowledge of the previous tenancy contracts and the tender of a similar area ; with regard to location, nature, size, quality, equipment and maintenance. In exceptional cases, for example, when there are major domicients in the end of only one tenant, a longer (gen) detenement horizons may be operated on up to 12 months.

In the case of uncharted areas, a discreased market rental is included in the rental. For areas which the company itself uses, a estimated market rent shall be fixed in the rental of the rental.

Maintenance costs are included with the average annual costs to be used to keep the property in normal maintenance condition.

Administrative and operational costs are based on the budgeted costs for the next 12 month period. In cases where costs are not borne in the form of fees to a real-estate administrator who is independent of the company, the costs are estimated from what would be paid to a property administrator on market-based terms.

Priority interest must not be included in operating costs.

2. Redeposition of the property's pending claims

The requirements of a property shall be determined in such a way as to ensure that, in the case of the special circumstances of the property concerned, this is equivalent to the interest requirements reflected in the ownership of the real estate market ; the time of assessment.

The property requirement for a property is dependent on general socio-economic conditions as well as those specific to the property concerned.

The overall socio-economic conditions are essentially the bond interest rate and the economic situation.

The specific characteristics of the individual property influencing the abrasions are matters that affect the safety of the property return on the property.

These special circumstances are in particular

a) property type and applications (residential, office, store, industry, storage, etc.),

b) location,

c) the direction and maintenance of the maintenance of the

d) the duration of the rental contract, renumbering clauses and tenancy of tenancy.

Other specific characteristics of the individual property may influence the size of the forging requirement.

3. Any correction of the daily value

It will often be necessary to correct the value resulting from the abovementioned operational returns and the demand requirements for the purposes of the above and deductible allowance.

Addendum for advance payments and deposita

Attachments shall be made corresponding to the capital value of the yield of the indemable amounts.

Addendum Addendum

Is the rent (market rent) that is included in the calculation, set up in relation to the actual rental income at the time of assessment, cf. Act. 1, the current value of the "overrent" can be present in the period up to the expected date of the contract.

Deduction for unchartered areas

Rent for uncharted areas that are included in the lease income after fury. 1, shall be deducting from a period up to the time when the areas are expected to be leased.

Deception for Decline Item

Is the rent (market rent) included in the calculation, increased relative to the actual rent income at the time of the assessment, cf. Act. 1, the current value of the "minor" in the period up to the expected time of lease increase must be deduccaf.

Deductible of Deferred Maintenance Work

In the case of major maintenance work which is not covered by the average maintenance costs involved in the calculation after fury. 1, the cost of this shall be dedudiable.

Deduction of required expenditure for the information required.

If renting an uncharted space for a rental income that is included in the calculation after the item. 1, presuppositions the direction and the non-employment of the needs of the tenant shall be deduct from the costs of such deduction.

DCF Method

A property's daily value emerges as the present value of the future payments that property holds in the property, cf. Act. 6. The future payments will be determined as the estimated payments during a planning period, cf. Act. 4, as well as a terminal value, cf. Act. 5.

4. Estimating of the estimated payments in the planning period

A planning period shall be fixed for the property that must be at least five years. The scheduling period is normally in five to 10 years. Revenue and costs must be estimated for each year in the selected planning period. In the flow of payments, they enter into a furtive. 1 and the revenue and costs listed. Each year's income and costs are set out from realistic expectations as to how they will be distributed during the planning period in the interest of existing rental contracts, relocations, idals, maintenance costs, administration, inflation, etc.

5. Statement of Terminal Value

The period after the end of the planning period and the term year shall be the first year of the term of the term. The property value of the property is the calculated daily value in the terminal year. Based on an assumption that the balance of payments will be constant during the term of the term, the terminal value will be calculated according to the method described above as described above. The constant yearly flow of payments corresponds to the expected operational return on the work station year in accordance with section of the contract. 1. The terminal value may be adjusted by the rules in point. 3.

6. Account of the present value of future payments

Each year of payment flows during the planning period and the terminal value will be returned with a discount rate, which consists of the property set up property, in accordance with the point. 2 with an addendum corresponding to the inflation expectation, which is calculated in the development of the current revenue and costs.

7. Application of the public property assessment

In the case of small buildings such as family homes, condos and summer houses, the most recent public property assessment may be used as a daily value, unless this is clearly misleading in the specific case.

8. Applying the assessment of an external expert

The setting of the property value, including the determination of the elements which, in accordance with the calculation of the day ' s values, may be based on an external expert opinion. However, the assessments made as well as the fact that the calculations are based on a relevant data base will, in all cases, be the management of the company (Directorates and Management Board) responsibilities. The responsibility for the assessment cannot be left to external experts.

Appendix 8

Commitating rates for the measurement of insurance commitments

1.	The management rates described in this Annex shall apply to the inventory of :
	a)	life assurance obligations, cf. § 66,
	b)	Provisions for non-life insurance obligations, cf. ~ § 69-70, and
	c)	committed commitments, cf. § 72.

2.	Where the obligations are in a currency other than Danish kroner, the rate of dilation rates laid down by the principles shall be used under the terms of the contract. 4. If the total amount of the commitments relating to amounts in the second currency does not exceed 10%. in the balance sheet, however, the Danish krone dilation rates may be used.

3.	A maturity-dependent rate-dependent rate (interest rate) shall be used in accordance with point. 4 below. However, for the period of 30 Danish kroner, commitments shall be required for Danish kroner. October 2008 to 31. In December 2012, a adjusted maturity-dependent rate (interest rate) in accordance with point shall be applied to the following maturity. 5 below. Businesses that discredit obligations in a currency other than Danish crowns according to a rate established in this second currency, cf. Act. 2, may, by agreement with the Financial supervision in the same period, apply a adjusted maturity rate determined by similar principles as specified in point. 5 on these commitments. For undertakings which first switch to the use of a maturity-dependent discount rate in 2009, apply to the furtive. 6 below.

4.	Lion-dependent discount rate (interest rate curve)
	The applicable rate of charge for each payment schedule in Danish kroner shall be construed based on the following interest rates calculated on the basis of the final mean classes on the day of the day of sale.
	a)	Zero interest rates with maturity of maturity to 30 years on the basis of the most liquid instruments (money instruments, futures and interest rates) expressed in EURO.
	b)	Zero interest rates with maturity of maturity for a period of 10 years, calculated on the basis of Danish state bonds.
	c)	Zero interest rates with maturity of maturity for a period of 10 years, calculated on the basis of German state bonds.
	The dilation rate for each payment time is determined as the interest rate (a) in the supplement to the span between interest (b) and (c).
	For duration longer than 10 years, the span of the interest between interest (b) and (c) is maintained at maturity 10 years.
	For duration longer than 30 years, the 30-year-old discount rate shall be continued.

5.	Adjusted maturity-dependent rate-rate (interest rate)
	The applicable rate of charge for each payment schedule applicable to the reduction of insurance obligations in Danish kroner shall be construed as follows :
	a)	In the case of maturity from 0 to 2 years, the weighted interest rates shall be applied to the interest rate adjustments that are included in the Nycredit Realm index. The interest shall be weighted with the nominal quantity from the latest conversion day of Nycredit Realcredit index. From 0 to 1 year, a weighted effective interest rate of 4% is being used by 2010 the debt securities. The 2-year-old point has been established as a weighted effective interest rate of 4% 2011.
	b)	In the case of maturity from a period of seven years and a 30-year period, the interest rate in the background of the interest rate calculated according to the principles laid down in point 4 is added after the principles laid down in paragraph 4, with a maturity adjusted to a real creditback. The voltage is calculated as the sum of the weighted opt-out, on the bonds of the Nycredit Realkeditindex, plus the 10-year-old Danish swapri, deduced the 10-year interest rate calculated by using the principles under section 4.
	c)	For the duration of two years to seven years, interest rates shall be calculated by linear interpolation between the two-year interest rate and the seven-year interest rate.
	d)	For duration longer than 30 years, the 30-year-old discount rate shall be continued.

6.	Companies which, during the financial year 2008, use a maturity-based rate of maturity shall use the 10-year interest rate fixed in accordance with paragraphs 4 and 5 for the respective periods.

7.	For the provisions relating to insurance covered by pension taxation, the rate of tax reduction in the tax rate applicable to the Pension Taxation Act is reduced. For other provisions, a discount rate shall be applied without a reduction in the rate of tax.
	The GL website will be published on a daily basis (working days) tables with dilation rates for the maturity of the maturity and the maturity of the maturity-dependent discount rate for the duration of 1 year to 30 years of 1 year interval calculated on the basis of the specified principles.
	The conversion rates for the use of other maturity times other than those published in the table are calculated by linear interpolation, where the weights are determined on the basis of the actual number of days between the maturity of the maturity and the desired term.

Appendix 9

5-year overview of the main and key figures for enterprises operating life-assurance activities

The five-year summary shall be expressed in schematics for the accounting year and corresponding figures for the preceding four financial years.

The five-year list shall include at least the following main characters :

1.	Pre-mier.
2.	Insurance benefits.
3.	Return on investment.
4.	Insurance operating costs, total.
5.	Result of business.
6.	Insurance-class result.
7.	Insurance-class result of sickness and accident insurance.
8.	The result of the year.
9.	Provisions for insurance and investment contracts, in total.
10.	Total capital, total.
11.	Activate, total.

The five-year list shall also contain the following key figures :
1.	Throw off before retirement tax.
2.	Return to retirement tax.
3.	Cost percentage of premiums.
4.	Cost% of the provisions.
5.	Cost per Insured.
6.	Cost result.
7.	Insurance risk result.
8.	Bonuses.
9.	Client Capital.
10.	OwnerCapital.
11.	Extinction rate.
12.	Sunlight cover.
13.	Pre-tax return before tax.
14.	Capital Pre-interest after tax.
15.	Client's funds for taxes after costs before tax.
16.	Reputation of Member Accounts before tax.
17.	Compensation of responsible loan capital before tax.
18.	Probation of special bonus provision of type A before tax.
19.	Probation of special bonus provision of type B before tax.

Calculation of the key figures in the five-year summary

In general terms, the amounts and spokessizes relating to investment contracts are used to calculate the key figures unless the opposite is directly stated.

1. The keykey numbers are calculated according to the following formulae :

AU4304_8_1.jpg Size : (297 X 44)

If self-capital is placed in certain assets, N1 must be supplemented by key figures N1, which is calculated analog to N1 but based on the amount of the selfcapital primo year and the return of the own funds and the key figures N1F, which are calculated analog to N1, but on the basis of the Vprimo, the primo, as well as the remaining part of the return on the return of the own funds.

AU4304_8_2.jpg Size : (301 X 43)

The sizes included in the formulas are defined as follows :

A	total return on investment in accordance with the result-loss account corresponding to the performance outpost 2, cf. Annex 3, with deduction of the return on investment from unit-contracts and with a supplement to a calculated return on the domicidal end-end, the same principles as the return on investment outlet and on the basis of a calculated market rent. The amount of the net cost of the domicilejendous based on a calculated rent income that is not included in the year ' s insurance operating costs, cf. O below must be dedudiable. To the extent a part of the yield is calculated in the second total income, cf. § 83, the ROI must be adjusted accordingly. Results in subsidiaries must be included in the investment return before deduction of corporation tax, irrespective of the fact that subsidiaries corporate tax as a result of taxation are expenditure in the parent company.
C	payments (or payments with negative sign), i.e. premiums, insurance services, costs, PAL tax and tax, etc., which are prepaid evenly over the financial year. Amounts relating to investment contracts are included, while amounts relating to unit-contract contracts are not included.
D	payments (or payments with negative sign), cf. C above which is a character of major one-time charges. Amounts relating to investment contracts are included, while amounts relating to unit-related contracts are not included.
V	the market value of the company's net assets deducting net assets associated with unit-contract contracts. In total, assets shall be deduced from asset mail IV and the passivoutpost II, V, VI and VII, cf. Annex 2.
X	the cost of the pension tax corresponding to result item 3, cf. Annex 3, with deduction of unit-linked contracts ' share of the tax.
k	number of days after the beginning of the year in which the large one-off or payment takes place.

If, in the individual case, it is not reasonable to predict that the current net payments are evenly distributed over the year, the current net payments must be included in the formula in the same way as greater one-time payments, cf. The above, for example, such that the current net payments shall be included on a daily basis or monthly in accordance with the actual daily / monthly net payments. The calculation method used with regard to the current net payments shall be reported in the accounts.

2. The cost and result key figures are calculated according to the following formulas :

AU4304_8_3.jpg Size : (174 X 23)

AU4304_8_4.jpg Size : (260 X 27)

AU4304_8_5.jpg Size : (355 X 25)

AU4304_8_6.jpg Size : (194 X 25)

AU4304_8_7.jpg Size : (212 X 25)

The sizes included in the formulas are defined as follows :

F	the number of insured persons with an individual signed insurance contracts and investment contracts. The number must be shown in the annual report, cf. § 110, paragraph. 2.
G	number of secured group life contracts. The number must be shown in the annual report, cf. § 110, paragraph. 2.
H	the sum of the retrospective provisions, cf. § 100, paragraph. 1, no. 9, with addendum for unit-linked unit-contracts, corresponding to liabilities item 14, cf. Annex 2.
O	the year ' s insurance operating costs corresponding to the results entries 9.1 and 9.2, cf. Annex 3, with deduction of depreciation and operating costs at domicilejendous and with the estimated cost of the domicidal outlay, based on a calculated market rent. The adjustment relating to domicients shall only cover the share of depreciation and operating costs relating to the insurance operations.
P	the gross premiums of the year corresponding to the performance outpost 1.1., cf. Annex 3, in addition to payments relating to investment contracts, to the extent that they are not already calculated by the gross premiums of the year.
Q	number of insured contracts drawn up in the context of an employment relationship. The number must be shown in the annual report, cf. § 110, paragraph. 2.
R	risk regains after attribution to risk onus, cf. § 100, paragraph. 1, no. The calculation shall include unit-linked contracts.
T	cost allowance after the addition of cost bonus, cf. § 100, paragraph. 1, no. 7. The calculation shall include unit-linked contracts.

3. Consolidation key figures are calculated according to the following formulas :

AU4304_8_8.jpg Size : (105 X 25)

AU4304_8_9.jpg Size : (142 X 25)

AU4304_8_10.jpg Size : (129 X 25)

AU4304_8_11.jpg Size : (147 X 25)

AU4304_8_12.jpg Size : (117 X 23)

The sizes included in the formulas are defined as follows :

BK	Basic capital. The amount shall be shown in the annual report, cf. § 125.
E	responsible loan capital, cf. passivoutpost II, cf. Annex 2.
EK	own funds equivalent to passivmail I, cf. Annex 2.
H 0	the sum of the retrospective provisions, cf. § 100, paragraph. 1, no. 9. Size does not include provisions for unit-linked contracts.
KB	collectively bonus potential corresponding to passivoutpost 11, cf. Annex 2.
M	the amount of capital requirements shall be recorded in the annual accounts, cf. § 128 a.
MK	Member accounts.
SB	special bonus provision corresponding to the case of liabilities, 13, cf. Annex 2.

4. The ratio key numbers are calculated according to the following formulae :

AU4304_8_13.jpg Size : (337 X 66)

AU4304_8_14.jpg Size : (306 X 63)

AU4304_8_15.jpg Size : (283 X 60)

Key figures Reputation of member accounts before tax (N16), Forrentning of responsible loan capital before tax (N17), Forrentning of special bonus provision of type A before tax (N18) and special bonus provision of type B before tax (N19) are computed for the calculation of the consumer ' s resources at the cost of tax (N15), However, the numerator shall be rectified as (as exemplified by N19) :

AU4304_8_16.jpg Size : (149 X 20)

The sizes included in the formulas are defined as follows :

B	the total movements of and from provisions for insurance and investment contracts shall be excused. provision for unit-contracts for contracts as a result of the payments and payments (premiums and benefits). This includes changes to claims for claims, translations for bonuses and repriced premiums and transfer to special bonus provision.
EK	own funds equivalent to passivmail I, cf. Annex 2.
	provisions for insurance and investment contracts shall be excused. for unit-linked contracts, the primo period from price deducted for insurance and investment contracts without any special added bonus and special bonus provision.
I	significant and extraneous payments for provisions for insurance and investment contracts excludes. provisions for unit-contracts which have the nature of major one-time payments or payments.
K	capital increases and reductions.
R	risk regains after attribution to risk onus, cf. § 100, paragraph. 1, no. 8.
RT	interest-rate write, cf. § 100, paragraph. 1, no. 5.
T	cost allowance after the addition of cost bonus, cf. § 100, paragraph. 1, no. 7.
U	Epidation for the owners.
Z	the retirement tax, relating to the insurance and investment contracts.
. OW!	change in cumulative value adjustment, cf. § 100, paragraph. 1, no. 2 added. 10.
. BF applied	change in applied peasant potential of free-policy services, cf. § 101, paragraph. 1.
. KB	alteration in collectively bonus potential, i.e. change in Plissivoutpost 11, cf. Annex 2.
d	the number of days after the start of the year in which the increase in the rate of increase or reduction shall be made by the capital increase or reduction.
k	number of days after the beginning of the year in which the significant or pay-off location is held.

The calculation of R, RT, T, Z, and ΔAV alone shall relate to the life assurance claims and must not therefore include unit-insurance policies. The calculation of the numerator must also be without the part that is transferred to special bonus provision.

If a formula other than the above formula has been used previously, the comparison figures shall be changed back in the five-year dropdown list.

Appendix 10

Five-year overview of the main and key figures for companies operating non-life-insurance undertakings

The five-year list shall be expressed in schematical terms and key figures for the financial year and corresponding figures for the preceding four financial years.

The five-year list shall include at least the following main characters :
1.	Gross premiums.
2.	Gross Replacement Expenses.
3.	Insurance operating costs, total.
4.	Result of business.
5.	Insurance-class result.
6.	Return on investment by policysanitary interest.
7.	The result of the year.
8.	Flow score.
9.	Insurance provisions, total.
10.	Insurance assets, total.
11.	Total capital, total.
12.	Activate, total.

The five-year summary shall also contain at least the following key figures :
1.	Gross Replacement Percentage.
2.	Gross cost percentage.
3.	Combined ratio.
4.	Operating ratio.
5.	Relative depiration result.
6.	Percent Capital% interest rate (relationship between the year's results and the average equity of the year in total).
7.	Sunlight cover (the relationship between base capital and capital requirements).

Appendix 11

Specification of Assets

Specification of assets and their return, cf. § 96.

		Accounting		Netto-	Return to% p.A. Before
		value		investment,	retirement tax,
		Primo	Ultimo		and corporation tax
1.1	Round and buildings that are directly owned
1.2	Real Estate Company
1.	Round and Buildings Total
2.	Other subsidiaries
3.1	Danish shareholdings listed as children
3.2	Unotated Danish capital shares
3.3	Borinated foreign capital shares
3.4	Unotated foreign capital shares
3.	Total Other Capital shares
4.1	Government bonds (Zone A)
4.2	Realcreditobonds
4.3	Index sobligation
4.4	Credit bonds with investment in grade
4.5	Credit-plugings non-investment grade as well as the state of the market
4.6	Other bonds
4.	Total Obligation
5.	Mortgage loan
6.	Other financial investments
7.	Derived financial instruments to ensure the net change of assets and liabilities

Appendix 12

Rules for the fulfilment of the table in Appendix 11

1.	Investment assets associated unit-linked contracts are not covered by Annex 11.
2.	Lines in the schema that contain only insignificant amounts may be combined with other lines.
3.	The " Net investment " column shall be entered in the total amount that is used during the financial period to acquire the relevant asset ' s group by deducting the amounts obtained from the sale of the relevant asset group. The amount shall be quoted with a minus sign if the amount entered exceeds the amount used for the acquisition.
4.	The columns ' accounting value ` shall indicate the total value of the active group in question, respectively, at the beginning of the accounting year and at the end of the financial year.
5.	In the column "Return to% p.mth before retirement tax and corporation tax", the total amount of time was taken as a percentage of a decimal point for the financial period to be obtained by the relevant asset group. The time-weighted return is calculated in principle by the following formula :



	where r T is the total time of the period of the period, and t are trunks in sub-Periods bounded each time a payment is made to or from the portfolio. The time-weighted yield may be approximated from the yield into fixed part-periods, e.g. yield per capsuitor. month or shorter period. The method used is reported in mapping to the schema.
6.	The return on the calculation of the percentage of the caste, cf. Act. 5 above includes both profit and return on return on the relevant returns in the second total inlet, cf. § 83, and must be done before retirement tax, corporation tax and cost.
7.	The value of investment union certificates and shares in investment communities and derivative financial instruments shall form part of each line according to the nature of the underlying stock, cf. However, below. Investment communities include in-command companies, partnerships and partnerships, etc., created with the aim of creating a legal form of ownership of financial investment that is carried out jointly with other investors.
	The value of the exchange rate instruments may be included in line 6, cf. Act. 21 if the individual contract is concluded with a view to uncovering / aligte the exchange rate risk on a portfolio of several asset types. It shall be separately reported in a note to the aphiste, provided that the value of the exchange rate instruments is included in line 6.
8.	Line 1 is the sum of the assets in line 1.1 and line 1.2.
9.	In line 1.1, share the same assets as in the balance sheet asset mail 2. Domicilejendous and 3. Investment in the end , cf. Annex 2, for domicilejous, a calculated rent shall be included in the yield.
10.	In line 1.2, property subsidiaries and other capital holdings, which the business in practice considers to be property investments, are included. The percentage of the property subsidiaries and other capital shares shall be calculated on the basis of the profits before tax in question.
11.	In line 2, subsidiaries do not form part of 1.2. The percentage of subsidiary undertakings shall be calculated on the basis of the subsidiaries profits before taxes.
12.	In line 3, capital shares do not form part of the lines 1.2 or 2. The assets shall correspond to the sum of the assets included in the lines 3.1-3.4.
13.	In line four, bonds are included. The assets shall correspond to the sum of the assets in lines 4.1-4.6.
14.	In line 4.1, statsobonds etc. shall be included in accordance with section 162 (1). 1, no. 1 and 2, in the law of financial activities.
15.	In line 4.2, mortgage bonds shall be included in accordance with section 162 (1). 1, no. 3 in the law of financial activities.
16.	In line 4.3, index bonds are included (State and mortgage credit) from Zone A.
17.	In line 4.4, credit bonds that have been made on balance the day have obtained a rating of a recognised rating company corresponding to at least one-grade level.
18.	Line 4.5 includes credit bonds that have not been able to achieve a rating of a recognised rating company equivalent to at least investment grade, as well as the state bonds, including state bonds, which are not included in line 4.1.
19.	In line 4.6, other bonds are included to the extent that they cannot be contained in the lines 4.1 to 4.5.
20.	In line 5, the same assets as in the balance sheet asset mail 5.5. Mortgage loan , cf. Annex 2.
21.	In line 6, investment assets, including reinsurance deposits, are not included in any of the preceding lines. In addition, assets are included in the balance sheet asset mail V. Accounts receivable, total , cf. Annex 2, and under asset mail WE. Other Assets Total , cf. Annex 2, when it comes to assets that yield a return, e.g. interest-bearing claims receivable. Finally, the value of the exchange rate instrument may be added, cf. Act. 7.
22.	In line 7, derivative financial instruments shall be derived if the instrument is acquired in order to ensure the net change of assets and liabilities. Among the possible derivative financial instruments, the CMS Floors, swapings and interest-interest rates are mentioned.

Appendix 13

Specification of capital shares, including capital shares in investment associations,

Percentage of the sectors and regions, cf. § 97.

	Denmark	Other Europe	North America	South America	Japan	Other Far East	Other countries	Not broken down	Total
Energy
Materials
Industry
Benefits
Consument Items
Healthcare
Finance
IT
Telecommunications
Supply
Not Distribuced
Total

Appendix 14

Rules for the fulfilment of the table in Appendix 13

1.	The branch division shall be based on the branch division used by the OMX Nordic Exchange Copenhagen A/S. Capital shares, which are not listed on the OMX Nordic Exchange Copenhagen A/S, are incorporated into the relevant categories.
2.	The value of investment unifying evidence and derivative financial instruments shall form part of each line according to the nature of the underlying assets. If the industry does not have the assets of the child in the underlying assets, these shall be listed under "Not Distributed".
3.	The location of a capital share in a region must be based on the registration country for the company in which a capital participation is owned. The country's registration does not, for the underlying assets, be listed under 'Not distributed'.
4.	Other European countries include the following countries : the countries of the EU, and Iceland, Norway and Switzerland, as well as Iceland.
5.	North America includes the following countries : Canada, the USA and Mexico.
6.	South America includes the following countries : Argentina, Brazil, Chile, Colombia, Peru, Paraguay, Uruguay, Ecuador, Bolivia and Venezuela.
7.	The Far Far East includes the following countries : Hong Kong, China, Singapore, Indonesia, Philipinos, Korea Malaysia, Taiwan and Thailand.
8.	Other countries include all other countries.

Appendix 15

Schema for sensitivity information for companies that run life-insurance business

Event	Minimum impact of base capitalen	Maximum impact on collectively bonus potential	Maximum influencing of bonus potential for free-policing services ; before change to applied the bonus potential of free-policeservices	Maximum influencing of the bonus potential of free-policing services ;
Rentestigning 0.7-1,0%. points
Rentestes 0.7-1,0%. points
12% stock prices.
Real estate price fall of 8%.
Currency Risk Risk (VaR 99,5%)
Loss of opposing sides of 8%.
Fall in the level of mortality of 10%.
Increase in the mortality rate of 10%.
Increasing invalidity intensity of 10%.

The schema shall be completed in accordance with the directions to the reports on the effects of risks which the establishments are to make to the SEC.

In the column for the indication of the ' Minimum impact of the base capital ', the total effect of the incident in question shall be based on the base capitale after the aggregation of the event ' s overall impact on the value of assets and liabilities. A reduction in the base capital shall be recorded with a minus sign.

In the column for the indication of the 'Maximum impact of collective bonus potential', the corresponding impact of the event on collective bonus potential shall be given. A reduction in collective bonus potential is given with a minus sign. If the event implies that collective bonus potential is fully used, any additional power should be entered in the respective columns as an increase in the use of bonus potential in free-or-use or as a reduction in the base capital after the circumstances. Increase of the bonus potential of free-policing services shall be noted with a minus sign.

In the column "Maximum impact of bonus potential in free-policing services before changing the bonus potential of free-policing services", the change in bonus potential of free-policing services as a result of the incident ' s impact on the value of the guaranteed free-policy services prior to alteration of the bonus potential of free-policing services. A reduction in the bonus potential of free-policing services shall be noted with a minus sign. If the event implies that the bonus potential of free-policing services is fully used, any further impact should be given in the respective columns as a reduction in the collective or base capital, as appropriate.

The distribution of an event impact on bonus potential and basic capital shall be carried out in accordance with the rules for the distribution of the result that the undertaking has notified to the Financial supervision. If the rules for the distribution of realized results notified by the company provide options with respect to the distribution, be chosen in the calculation of the most favourable influence on the size of the base capitle within the framework of the notified rules.

The impact of the individual events in the scheme shall be calculated from a different point of view, based on the balance sheet that is provided in the accounts. It is assumed that the individual events will take place as immediate events-and not over time-whereby a possible merging for own funds (risk payment) will not affect the distribution of funds.

Appendix 16

Schema for sensitivity information for companies that operate non-life-insurance business

Event	Impact of own funds,
Rentestiction of 0,7-1,0%. points
Rentestes at 0.7-1,0%. points
12% stock prices.
Real estate price fall of 8%.
Currency Risk Risk (VaR 99.5)
Loss of opposing sides of 8%.

The schema shall be completed in accordance with the directions to the reports on the effects of risks which the establishments are to make to the SEC.

The column for the indication of the " Income " capital of own funds ` shall indicate the total effect that the event in question will have on own funds after the aggregation of the overall impact of the event on assets and liabilities.

The impact of the individual events in the scheme shall be calculated from a different point of view, based on the balance sheet that is provided in the accounts. It is assumed that the individual events are taking place as a momentous event-rather than time-over.

Appendix 17

Table of Contents

Section I
Scope of application
Chapter 1
They covered business and reports	§ § 1-3

TITLE II
Annual report
Chapter 2
Classification and Setting
General provisions	§ § 4-5
Balance
Common provisions	§ § 6-14
Life insurance	§ § 15-19
Insurance Insurance	§ § 20-21
Score statement
Common provisions	~ ~ ~ ~ 22-25
Life insurance	§ § § 26-34
Insurance Insurance	§ § 35-38
Ghosts on own funds	§ 39
Chapter 3
Inserting and measurement
Balance
General provisions	§ 40-42
Financial Instruments	§ § 43-52
Data Buses and Associated Companies	§ § § 53-54
Material fixed assets	§ § 55-59
Intangible assets	§ § 60-61
Leasing	§ 62
Insurance Responsibilities	~ § 63-65
Provisions for life assurance obligations	§ § 66-68
Provisions for non-life assurance obligations	§ § 69-70
Insurance assets	§ 71
Referended obligations	§ § 72-73
Staff services	§ § 73 a-74
Stock-based remuneration	§ 75
Tax	§ 76
Accounting Security	~ ~ § 76 a-81
Result statement and other total income	§ § 82-83
Accounting Practices Amendment	§ 84
Modification of accounting estimates and errors	§ § 85-86
Chapter 4
Note information
General	§ § 87-88
Accounting Practices Used	§ § 89-91
Five-year overview	§ 91 a
Risk Information	§ 91 b
Financial Instruments	§ 92
Material fixed assets	§ § 93-95
Investments in companies that operate life-assurance business	~ § 96-98
Event Assets	§ 99
Life assurance obligations	~ § 100-101 a
Indemsities obligations	§ 102
Other obligations	section sections 103-105 a
Score statement	§ § 106-109
Life Insurance Contracts	§ § 110-112
Indemency Insurance Contracts	§ § 113-114
Cearest parties, etc.	§ § 115-120
Corporate capital	§ § 121-125
Sensitive Information	§ § 126-127
Chapter 5
Management Report	§ § 128-132

TITLE III
Corporate Accounts and acquisitions
Chapter 6
Construction of group accounts
Duty to report group accounts	§ § 133-135
Recreation of the consolidation	§ 136
General requirements for the group accounts	~ § 137-141
Chapter 7
Corporate takeovers and mergers	§ § 142-143
Fusion Accounting and so on	§ 144

TITLE IV
Partial reports
Chapter 8
Preparation of the semi-annual report	§ 145
Preparation of quarterly reports	§ 145 a

Section V
Criminal provisions and entry into force and transitional provisions
Chapter 9
Penalty provisions	§ 146
Chapter 10
Entry into force and transitional provisions	§ 147

Official notes

1) The announcement contains provisions which implement parts of Council Directive 91 /674/EEC of 19. December 1991 on the annual accounts and consolidated accounts of insurance undertakings (EC Official Journal (EC). L374 of 31/12/1991 s. Directive 2002/83/EC of the European Parliament and of the Council of 5. November 2002 on life assurance (EC Official Journal) L 345 of 19/12/2002 s. Directive 2004 /25/EC of the European Parliament and of the Council of 21. April 2004 on takeover bids (EU Official Journal) L142 of 30. April 2004, p. Directive 2004 /109/EC of the European Parliament and of the Council of 15. In December 2004 on the harmonisation of transparency requirements for information concerning issuers whose securities are included in trade in a regulated market and amending Directive 2001 /34/EC (EU Official Journal) L 390, 31/12, 2004, p. THIRTY-EIGHT.

Notice Of Financial Reports For Insurance Companies And Lateral Pension Funds

Original Language Title: Bekendtgørelse om finansielle rapporter for forsikringsselskaber og tværgående pensionskasser

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