INCOME STATEMENT

References(€ million)31/12/201531/12/2014
261.1Net earned premiums68,50764,322
1.1.1Gross earned premiums70,40066,324
1.1.2Earned premiums ceded-1,894-2,003
271.2Fee and commission income and income from financial service activities1,094967
281.3Net income from financial instruments at fair value through profit or loss1,9413,510
of which net income from financial instruments where the investment risk is borne by the
policyholders and related to pension funds
2,2753,293
291.4Income from subsidiaries, associated companies and joint ventures130191
301.5Income from other financial instruments and land and buildings (investment properties)16,21915,991
1.5.1Interest income10,0759,919
1.5.2Other income2,0652,117
1.5.3Realized gains3,8733,761
1.5.4Unrealized gains and reversal of impairment losses206194
311.6Other income4,0703,301
1TOTAL INCOME91,96188,282
322.1Net insurance benefits and claims-69,091-67,003
2.1.1Claims paid and change in insurance provisions-70,204-68,280
2.1.2Reinsurers' share1,1131,276
2.2Fee and commission expenses and expenses from financial service activities-586-470
2.3Expenses from subsidiaries, associated companies and joint ventures-16-68
352.4Expenses from other financial instruments and land and buildings (investment properties)-3,215-3,461
2.4.1Interest expense-1,103-1,298
2.4.2Other expenses-390-421
2.4.3Realized losses-686-435
2.4.4Unrealized losses and impairment losses-1,035-1,307
362.5Acquisition and administration costs-10,856-10,489
2.5.1Commissions and other acquisition costs-8,179-7,884
2.5.2Investment management expenses-96-103
2.5.3Other administration costs-2,581-2,502
372.6Other expenses-4,792-3,838
2TOTAL EXPENSES-88,555-85,329
EARNINGS BEFORE TAXES3,4072,953
383Income taxes-1,112-1,033
EARNINGS AFTER TAXES2,2951,921
4RESULT OF DISCONTINUED OPERATIONS-35-69
CONSOLIDATED RESULT OF THE PERIOD2,2591,852
Result of the period attributable to the Group2,0301,670
Result of the period attributable to minority interests229182
16EARNINGS PER SHARE:  
Basic earnings per share (€)1.301.07
from continuing operations1.331.13
Diluted earnings per share (€)1.291.06
from continuing operations1.311.11