Available for sale financial assets

(€ million)31.12.201331.12.2012
Unquoted equities at cost 288 308
Equities at fair value 10,540 8,599
Quoted 9,097 7,513
Unquoted 1,443 1,086
Bonds 201,989 190,349
Quoted 197,353 185,173
Unquoted 4,637 5,176
Investment fund units 15,833 11,458
Other available for sale financial assets 1,380 1,745
Total 230,031 212,459

As already mentioned, available for sale financial assets are measured at fair value and unrealized gains and losses on these assets are accounted for in shareholders’ equity in an appropriate reserve. The amortized cost of the available for sale financial assets amounted to € 219,166 million.

The increase compared 31 December 2012 was attributable to net acquisition in the period particularly of debt securities. In addition, companies held for sale or sold during 2013 contributed for € 1,659 million to total available for sale investments at 31 December 2012.

Net unrealised gains
(€ million)
31.12.2013
Fair valueUnrealized gains / lossesAmortized cost
Unquoted equities at cost 288 0 288
Equities at fair value 10,540 1,842 8,698
Bonds 201,989 8,379 193,610
Investment fund units 15,833 699 15,134
Other available for sale financial assets 1,380 -56 1,436
Total 230,031 10,864 219,166
(€ million)
31.12.2012
Fair valueUnrealized gains / lossesAmortized cost
Unquoted equities at cost 308 0 308
Equities at fair value 8,599 969 7,630
Bonds 190,349 10,721 179,628
Investment fund units 11,458 412 11,046
Other available for sale financial assets 1,745 57 1,688
Total 212,459 12,158 200,301

This category accounted for 56.8% of the total investments.

In particular, available for sale bonds represented 85.0% of total bonds with a rating higher or equal to BBB, class assigned to the Italian government bonds. 70% of the rest of the portfolio belongs to classes higher or equal to A.

The realized gains and losses and impairment losses on available for sale financial assets are shown in the table below.

(€ million)
31.12.2013
Realized gainsRealized lossesImpairment losses
Equities 1,236 -161 -286
Bonds 1,584 -173 0
Investment fund units 249 -32 -149
Other available for sale financial assets 40 -44 -14
Total 3,109 -410 -449
(€ million)
31.12.2012
Realized gainsRealized lossesImpairment losses
Equities 564 -553 -2,029
Bonds 2,103 -1,649 -175
Investment fund units 102 -107 -288
Other available for sale financial assets 47 -15 -97
Total 2,817 -2,323 -2,589
Assicurazioni Generali S.p.A. - C.F. e P.IVA 00079760328