Income statement

Income statement

(€ million)					31.12.2014	31.12.2013
	1.1		Net earned premiums		64,322	60,622
		1.1.1	Gross earned premiums		66,324	62,913
		1.1.2	Earned premiums ceded		-2,003	-2,290
	1.2		Fee and commission income and income from financial service activities		967	872
	1.3		Net income from financial instruments at fair value through profit or loss		3,510	4,611
			of which net income from financial instruments where the investment risk is borne by the policyholders and related to pension funds		3,293	4,103
	1.4		Income from subsidiaries, associated companies and joint ventures		192	181
	1.5		Income from other financial instruments and land and buildings (investment properties)		15,991	15,374
		1.5.1	Interest income		9,919	9,828
		1.5.2	Other income		2,117	1,882
		1.5.3	Realized gains		3,761	3,455
		1.5.4	Unrealized gains and reversal of impairment losses		194	208
	1.6		Other income		3,301	2,246
1			TOTAL INCOME		88,282	83,905
	2.1		Net insurance benefits and claims		-67,003	-63,101
		2.1.1	Claims paid and change in insurance provisions		-68,280	-64,527
		2.1.2	Reinsurers' share		1,276	1,425
	2.2		Fee and commission expenses and expenses from financial service activities		-470	-468
	2.3		Expenses from subsidiaries, associated companies and joint ventures		-68	-294
	2.4		Expenses from other financial instruments and land and buildings (investment properties)		-3,461	-3,222
		2.4.1	Interest expense		-1,298	-1,355
		2.4.2	Other expenses		-421	-444
		2.4.3	Realized losses		-435	-475
		2.4.4	Unrealized losses and impairment losses		-1,307	-949
	2.5		Acquisition and administration costs		-10,489	-10,518
		2.5.1	Commissions and other acquisition costs		-7,884	-7,963
		2.5.2	Investment management expenses		-103	-75
		2.5.3	Other administration costs		-2,502	-2,480
	2.6		Other expenses		-3,838	-3,888
2			TOTAL EXPENSES		-85,329	-81,492
			EARNINGS BEFORE TAXES		2,953	2,413
3			Income taxes		-1,033	-757
			EARNINGS AFTER TAXES		1,921	1,657
4			RESULT OF DISCONTINUED OPERATIONS		-69	485
			CONSOLIDATED RESULT OF THE PERIOD		1,852	2,142
			Result of the period attributable to the Group		1,670	1,915
			Result of the period attributable to minority interests		182	227
			EARNINGS PER SHARE:
			Basic earnings per share (€)		1.07	1.24
			from continuing operations		1.13	0.80
			Diluted earnings per share (€)		1.07	1.24
			from continuing operations		1.13	0.80