Net income and gains/(losses) from financial assets at fair value through profit or loss, designated Shares and similar interests Dividend income 72.1 12.7 Unrealised gains/(losses) from shares and similar interests (488.7) 646.2 Realised gains/(losses) from shares and similar interests 578.1 732.1 Total net income and gains/(losses) from shares and similar interests 161.5 1,391.0
Net income and gains/(losses) from loans and receivables Net interest income/(expenses) from loans and receivables 800.5 866.6 Net gains/(losses) from loans and receivables 67.4 0.3 Net gains/(losses) from changes in exchange rates on loans and receivables 51.7 (152.0) Total net income and gains/(losses) from loans and receivables 919.5 714.9
Interest income from financial assets not recognised at fair value through profit or loss 929.7 1,028.7 Interest expenses from financial assets not recognised at fair value through profit or loss (35.7) (9.5)
As part of its ongoing financial management, the Company has undertaken to invest up to NOK 1,643.6 million (2,278.6) in bond funds and various private equity and real estate investments, over and above amounts recognized in the balance sheet.
Equity 16,014.6 16,164.2 Effect of guarantee scheme provision and Natural perils fund (2,790.2) (2,902.2) Goodwill (1,676.7) (1,568.6) Deferred tax assets (31.2) Other intangible assets (846.9) (795.5) Reinsurance provision, minimum requirement (4.8) (11.5) Core capital before 50/50-deductions 10,695.9 10,855.3 Proportion 50/50-deductions (413.6) (588.9) Core capital 10,282.3 10,266.3
Subordinated term debt 1,197.4 1,197.1 Proportion 50/50-deductions (413.6) (588.9) Additional capital 783.8 608.1 Net primary capital (A) 11,066.1 10,874.5
Risk weighted calculation base (B) 42,870.6 37,994.1 Capital ratio (A/B) 25.8% 28.6% FSAN minimum requirement 8.0% 8.0% FSAN minimum requirement (C) 3,429.6 3,039.5 Primary capital surplus (A - C) 7,636.5 7,834.9
Net primary capital 11,066.1 10,874.5 Proportion of security provision 1,270.5 1,268.1 Proportion of Natural perils fund (up to 25% of the Natural perils fund is included) 542.7 576.3 Deduction due to discounting effects (72.7) (61.4) Limitation of additional capital which may be included (447.8) (344.6) Solvency margin capital 12,358.9 12,312.9 Solvency margin minimum requirement 3,514.8 3,359.3 In excess of requirement 8,844.1 8,953.6 Solvency margin capital in per cent of requirement 351.6% 366.5%
Gjensidige annual report 2015 | 193 28. Share-based payment Description of the share-based payment arrangements As at 31 December 2015, Gjensidige has the following share-based payment arrangements: Share-based remuneration for executive personnel with settlement in equity and cash (remuneration scheme) Gjensidige has established equity-settled share-based payment for the group management and more explicitly defined executive personnel.
Share-based remuneration for key personnel 5.6 6.4 Share savings programme for employees 4.4 3.4 Total expenses (note 17) 10.0 9.9
The number of bonus shares Outstanding 1 January 67,370 53,923 Granted during the period 39,841 35,262 Released during the period (30,770) (18,497) Cancelled during the period (896) (884) Forfeited during the period (4,008) (2,410) Expired during the period 0 (24) Outstanding 31 December 71,537 67,370 Exercisable 31 December 0 0
The consolidated accounts have been prepared in accordance with the EU-approved International Financial Reporting Standards (IFRS) and interpretations, together with the additional disclosure requirements that derive from the Regulations concerning annual accounts for insurance companies pursuant to the Norwegian Accounting Act and that shall be adopted as per 31 December 2015. The annual accounts for the parent company were submitted in accordance with the Accounting Act and the Regulations concerning annual accounts for insurance companies as per 31 December 2015. The Board’s Report for the Group and the parent company, including The Boards statement on corporate governance and corporate social responsibility, is in accordance with the requirements of the Accounting Act and Norwegian Accounting Standard no. 16 as per 31 December 2015.
To the best of our knowledge: • the annual accounts for 2015 for the Group and the parent company have been prepared in accordance with current accounting standards • the information in the accounts gives a true and fair view of the Group’s and the parent company’s assets, liabilities and financial position and results as a whole as per 31 December 2015