(28) Deferred taxes

N138 BALANCE SHEET ITEMS DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIES
  FIGURES IN EUR MILLION
    31.12.2013 31.12.2012 1)
  Deferred tax assets    
  Loss and loss adjustment expense reserve 472 432
  Other technical provisions 210 233
  Loss carry-forwards 320 347
  Benefit reserve 87 65
  Other provisions 232 269
  Accounts receivable on insurance business 39 20
  Investments 73 158
  Funds withheld by ceding companies 382 168
  Premium refunds 1 1
  Impairments –130 –110
  Present value of future profits (PVFP) on acquired insurance portfolios 7 7
  Deferred acquisition costs 135 141
  Other 381 501
  Total 2,209 2,232
  Deferred tax liabilities    
  Equalisation reserve 1,315 1,321
  Deferred acquisition costs 2) 515 586
  Funds withheld by ceding companies 184 28
  Accounts receivable on insurance business 81 188
  Present value of future profits (PVFP) on acquired insurance portfolios 172 224
  Benefit reserve 188 168
  Technical provisions: 81 55
  Investments 389 585
  Loss and loss adjustment expense reserve 102 84
  Debt consolidation 27 22
  Other provisions 8 3
  Premium refunds 1 40
  Other 363 383
  Total 3,426 3,687
  Deferred tax liabilities (net) 1,217 1,455
  1) Adjusted on the basis of IAS 8. Cf. “Accounting policies” section of the Notes, subsection “Changes in accounting policies and accounting errors”
2) Deferred taxes on deferred acquisition costs relate to the net amount, i.e. the amount after allowance for reinsurers’ shares
   
N139 RECOGNITION OF DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIES
  FIGURES IN EUR MILLION
    31.12.2013 31.12.2012 1)
  Deferred tax assets 532 529
  Deferred tax liabilities 1,749 1,984
  Deferred tax liabilities (net) 1,217 1,455
  1) Adjusted on the basis of IAS 8. Cf. “Accounting policies” section of the Notes, subsection “Changes in accounting policies and accounting errors”
   

Of the net change in deferred tax assets and liabilities, EUR 12 million was recognised in profit and loss, relating mainly to the balance sheet items “Funds withheld by ceding companies” and “Accounts receivable on insurance business”, and EUR 226 million in “Other comprehensive income”.