B. GROUP FINANCIAL RESULTS 2021 P/C: investment result up 3% Comments • Interest & similar income • Current yield Higher income from equities (∆ EUR +160mn, Reduction in current yield in line with expectations. mainly from private equity investments) which was • Reinvestment yield negatively impacted by COVID-19 in prior year, is Lower reinvestment yield in 9M 2021 fully compensated partially compensated by lower income from debt. by higher yields towards the end of the year. • Net harvesting & other Higher income from assets carried at fair-value. • Investment expenses Driven by larger share of high-yield products with higher fees as well as increased expenses for real estate. 38 B 20