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Notes to the Accounts

7 Result Analysis of P&C Insurance
               
           
EURm         2010 2009
Insurance premiums earned         3,894 3,643
Claims incurred         -2,943 -2,717
Operating expenses         -671 -640
Other insurance technical income and expense         0 0
Allocated investment return transferred from the non-technical account         168 201
Technical result         449 488
Net investment income         516 423
Allocated investment return transferred to the technical account         -226 -261
Other income and expense         -32 -6
Operating result         707 644
               
Specification of activity-based operating expenses included in the income statement
               
EURm         2010 2009
  Claims-adjustment expenses (Claims paid)         -253 -239
  Acquisition expenses (Operating expenses)         -452 -432
  Joint administrative expenses for insurance business (Operating expenses)         -243 -239
  Administrative expenses pertaining to other technical operations (Operating expenses)         -24 -22
  Asset management costs (Investment expenses)         -8 -7
  Total         -980 -939
               
               
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