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## 35 Acquisition costs and administrative expenses 

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Acquisition costs and administrative expenses in the insurance busi- ness include the personnel and operating costs of the insurance busi- ness allocated to the functional areas “Acquisition of insurance poli- cies”, “Administration of insurance policies” and “Asset management”. Other personnel and operating costs are reported under insurance benefits (claims settlement expenses) and other expenses. 

All personnel and operating costs in the banking business are re- ported under Acquisition costs and administrative expenses. 

An overview of personnel expenses is provided in a table in note 43. 

