Non-recurring items represented a net expense of €271 million. This amount corresponds mainly to the €162 million net transfer for the year to the policyholders' surplus reserve and to the €102 million accrual booked for tax payable on the capitalisation reserve.In all, the policyholders' surplus reserve was increased to €3,372 million from €2,886 million at 31 December 2011, representing 1.55% of technical reserves versus 1.34% at end-2011.
CNP Assurances: 2012 Results
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