IPF årsrapport 2018 (eng) - Flipbook - Side 43
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41
Notes (cont.)
Note DKK mill.
18
31.12.2018
31.12.2017
24,871
84,931
48,606
2,266
46,225
47,695
60,769
3,887
160,674
158,575
927
-
Cash and cash equivalents and bonds issued as collateral for clearing and for fair
value of derivative financial instruments
1,487
933
Cash and cash equivalents and bonds received as collateral for fair value of
derivative financial instruments
1,154
3,447
1
1
21,404
18,200
Collateral and contingent liabilities
As collateral for the technical provisions, assets have
been registered at a carrying amount of:
Equity investments
Investment association units
Bonds
Deposits with credit institutions
Total registered assets
Bonds placed as collateral for loans in accordance with standard repurchase
contracts
Leasing liabilities
Pledges to invest in property, infrastructure and unlisted equity investments etc.
incl. warranties for pledges in associated undertakings
The company has joint VAT (moms) registration with a number of group undertakings. The joint
registration entails joint and several liability for VAT and payroll tax.
19
Related parties
Industriens Pensionsforsikring A/S is fully owned by the parent company IndustriPension Holding A/S, which
also owns Industriens Pension Service A/S. Consequently, these two companies are closely related to
Industriens Pensionsforsikring A/S. The same applies to group undertakings and associated undertakings, see
notes 11 and 12, as well as the members of the Board of Directors and the Board of Management.
Transactions with related parties are entered into and settled on market terms or on a cost-recovery basis. In
2018, the company had the following transactions and balances with related parties:
- Supply of administrative services for the parent, IndustriPension Holding A/S, as well as to the fellow
subsidiary, Industriens Pension Service A/S, and the fully owned subsidiaries. Assets management services
are also supplied to the subsidiaries. The fees for these services are set on a cost-recovery basis.
- Provision of loans (approx. EUR 73 mill.) and guarantees for equivalent lines of credit to the
subsidiary IP Finans 1 Aps in connection with financing of the wind farm Butendiek Wind. Interest
and guarantees have been set on market terms.
- Sale of equity interests in Ejendomsselskabet Axeltorv 2 P/S and Ejendomsselskabet Axeltorv 2 ApS to IP
Ejendomme P/S on 1 April 2018 at a market value of DKK 32.7 mill. Furthermore, on 1 April 2018 the company
transferred its loan to Ejendomsselskabet Axeltorv 2 P/S at a market value of DKK 446.4 mill. to IP Ejendomme
P/S.
No transactions have been entered into with the company’s Board of Directors or Board of Management in
addition to the salaries and other remuneration described in note 6.