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_ In fiscal 2003, total premium income from the insurance business increased 2.8 percent. After adjustment for currency and consolidation effects, growth came to 7.3 percent. 

_ After a loss of 1.2 billion euros in the previous year, we returned to the profit zone and posted net income of 1.6 billion euros. 

_ The reporting year was marked by the following initiatives: we strengthened our capital base, mainly through the capital increase in spring of 2003, but also supported by the price gains in our investment portfolio. The improvements we made across all segments in the operating business, quickly returned the company to sustainable profitability. We also divested non-strategic activities and thereby reduced the complexity of our business portfolio. 

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