INCOME STATEMENT

References: (€ million)31/12/201631/12/2015
261.1Net earned premiums 65,352 68,507
1.1.1Gross earned premiums 67,176 70,400
1.1.2Earned premiums ceded -1,824 -1,894
271.2Fee and commission income and income from financial service activities 1,010 1,094
281.3Net income from financial instruments at fair value through profit or loss 1,822 1,941
of which net income from financial instruments where the investment risk is borne by the policyholders and related to pension funds 1,727 2,275
291.4Income from subsidiaries, associated companies and joint ventures 133 130
301.5Income from other financial instruments and land and buildings (investment properties) 14,860 16,219
1.5.1Interest income 9,955 10,075
1.5.2Other income 2,043 2,065
1.5.3Realized gains 2,605 3,873
1.5.4Unrealized gains and reversal of impairment losses 258 206
311.6Other income 2,927 4,070
1 TOTAL INCOME 86,103 91,961
322.1Net insurance benefits and claims -63,963 -69,091
2.1.1Claims paid and change in insurance provisions -64,916 -70,204
2.1.2Reinsurers' share 953 1,113
332.2Fee and commission expenses and expenses from financial service activities -611 -586
342.3Expenses from subsidiaries, associated companies and joint ventures -43 -16
352.4Expenses from other financial instruments and land and buildings (investment properties) -3,425 -3,215
2.4.1Interest expense -1,110 -1,103
2.4.2Other expenses -350 -390
2.4.3Realized losses -471 -686
2.4.4Unrealized losses and impairment losses -1,495 -1,035
362.5Acquisition and administration costs -10,838 -10,856
2.5.1Commissions and other acquisition costs -8,056 -8,179
2.5.2Investment management expenses -188 -96
2.5.3Other administration costs -2,594 -2,581
372.6Other expenses -4,066 -4,792
2TOTAL EXPENSES -82,947 -88,555
EARNINGS BEFORE TAXES 3,157 3,407
383Income taxes -918 -1,112
4EARNINGS AFTER TAXES 2,239 2,295
RESULT OF DISCONTINUED OPERATIONS 0 -35
CONSOLIDATED RESULT OF THE PERIOD 2,239 2,259
Result of the period attributable to the Group 2,081 2,030
Result of the period attributable to minority interests 158 229
16EARNING PER SHARE
Basic earnings per share (€) 1.34 1.30
From continuing operations 1.34 1.33
Diluted earnings per share (€) 1.32 1.29
From continuing operations 1.32 1.31