Investments
| Net investment incomeFigures in EUR million | ||||||
|---|---|---|---|---|---|---|
| 2009 | +/- previous year |
2008 | 2007 | 2006 | 2005 | |
| 1 Excluding expenses on funds withheld and contract deposits | ||||||
| 2 Including depreciation/impairments on real estate | ||||||
| 3 Portfolio at fair value through profit or loss and trading | ||||||
| Ordinary investment income1 | 810.5 | –2.3% | 829.8 | 859.0 | 792.6 | 654.6 |
| Result from participations in associated companies | (5.0) | –218.4% | 4.2 | 11.0 | 6.3 | 3.9 |
| Appreciation | 20.1 | – | – | – | – | |
| Realised gains/losses | 113.0 | –199.5% | (113.6) | 174.3 | 217.4 | 162.2 |
| Impairments on investments2 | 142.5 | –70.3% | 480.4 | 72.0 | 19.0 | 15.5 |
| Unrealised gains/losses3 | 100.6 | –184.0% | (119.7) | (18.8) | 19.2 | 14.5 |
| Investment expenses | 53.1 | +28.2% | 41.4 | 52.0 | 49.5 | 55.4 |
| Net investment income from assets under own management | 843.6 | 78.9 | 901.6 | 967.0 | 764.3 | |
| Net investment income from funds withheld | 276.8 | +38.7% | 199.6 | 220.1 | 221.9 | 351.6 |
| Total investment income | 1,120.4 | 278.5 | 1,121.7 | 1,188.9 | 1,115.9 | |
Overall, our investment income in the year under review was favourably affected by the turmoil on international capital markets in the first half of the year and the recovery that set in during the second six months.