|Development of Group equity||31.12.2022||Prev. Year||Change|
|Issued capital and capital reserve||7,422||7,432||–0.1|
|Consolidated result attributable to equity holders of Munich Reinsurance Company||3,432||2,933||17.0|
|Debt leverage %||19.2||14.7|
1The components of our strategic debt are subordinated liabilities, and bonds and notes issued (see the relevant sections in the Notes to the consolidated financial statements).
Munich Re’s subordinated liabilities amounted to €4,748m (see section (19) Subordinated liabilities in the Notes to the consolidated financial statements). Of this sum, €4,644m were recognised at the reporting date as eligible own funds pursuant to Solvency II. Under the supervisory regulations of Solvency II, subordinated liabilities are recognised as own funds provided that they are available at all times to cover losses on a going-concern basis.