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Report on relations with affiliated companies

The report on relations with affiliated companies prepared by the Exec- utive Board in compliance with Section 312 of the Public Corporation Act closes with the statement that, under the circumstances known at the time, the Company received fair and reasonable consideration in every transaction with an affiliated company. No reportable acts were registered during the financial year.

Operating results and appropriation of profit

Our overall operating results were as follows:

€ 1,000

Underwriting business after withdrawal from the equalization provision resulted in a deficit for own account of

With the surplus from general business of

the pre-tax deficit from ordinary activities amounted to

An injection from our parent company of was recorded as extraordinary income.

After deduction of tax income of the net deficit for the year was

Including the retained profit brought forward from the previous year of

and after a capital reserve withdrawal of as well as revenue reserve withdrawals of the net retained loss for 2001 was

  • 647,577

84,736

  • 562,841

102,000

19,358

  • 441,483

5,127 363,230 24,626

  • 48,500

This loss is to be carried forward.

62 Gerling-Konzern Globale Rückversicherungs-AG/Management Report

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