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## 5 INVESTMENTS FOR ACCOUNT OF POLICYHOLDERS 

Investments for account of policyholders and insurance-linked savings deposits are investments of which the investment risk is borne by the policyholders. They are valued at market value. Separated investments for group life contracts with full profit sharing are valued according to the terms of the related contracts. For more information refer to note 15 on page 101. 

Total return of these investments is accounted for in the technical account life insurance on a separate line. 

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$^{1 }$Including reallocation to the general account investments for an amount of EUR 1,278 million due to the final settlement of the Diversified Investment Advisors acquisition. 

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The provision for doubtful debts for these receivables amounts to EUR 135 million (2002: EUR 149 million). 

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Other receivables mature within one year. The provision for doubtful debts for other receivables amounts to EUR 43 million (2002: EUR 11 million). 

