(1) Insurance enterprises are to value intangible assets, insofar as they were acquired against consideration, real property and equivalent rights as well as buildings, including buildings on third-party real estate, plant and machinery, other equipment, factory equipment and furnishings and fixtures, construction in progress and inventories in accordance with the provisions applying to such fixed assets. Sentence 1 is to be applied, subject to the stipulations of subsection (2) and section 341c, also to capital investments insofar as they consist of participating interests, participating interests held in affiliated enterprises, loans to affiliated enterprises or to enterprises linked by virtue of participating interests, registered debentures, mortgage loans and other receivables and rights, other loans and deposits receivable from insurance business assumed for reinsurance purposes. Section 253 (3) sentence 6 is to be applied solely to the assets designated in sentence 2.
(2) Section 253 (1) sentence 1, (4) and (5), section 256, as applicable to current assets, are to be applied to capital investments, insofar as these consist, in the relevant case, of shares of stock, including own shares, shares or shares of stock in investment funds as well as other fixed-income and non-fixed-income securities, unless they are intended to serve business operations on a permanent basis; in such event, they are to be valued in accordance with the provisions applicable to fixed assets.
(3) Section 256 sentence 2 read in conjunction with section 240 (3) concerning the valuation at a fixed value is not to be applied to real property, buildings or construction in progress.
(4) Contracts entered into by pension funds with life insurance enterprises for purposes of covering their obligations towards pension beneficiaries are to be valued at fair value, while taking a prudential approach; inasmuch, subsections (1) to (3) do not apply.