233 26 Investments in associates 2013 2012 At January 1 771 713 Additions 19 5 Disposals (328) (2) Share in net income 21 28 Share in changes in associate’s equity (note 32.6) 10 22 Impairment losses (1) (1) Dividend (2) (2) Net exchange difference (14) (7) Other (6) 15 At December 31 470 771 All associates are unlisted and are accounted for using the equity method and are considered to be non-current. The investments in  associates include stakes in insurance companies that are required to maintain a minimum solvency margin based on local directives.  Such restrictions can affect the ability of these associates to transfer funds in the form of cash dividends, or repayment of loans or  advances, and therefore, there can be no assurance that these restrictions will not become a limitation in the future. There are no  unrecognized shares of losses in associates. The financial statements of all associates have the same reporting date as the Group.  Refer to note 55 for a listing of the investments in associates and the Group’s percentage holding. On July 19, 2013, the sale of Aegon’s 50% stake in its life insurance partnership originally established with Caja de Ahorros del  Mediterráneo (CAM) was closed. The consideration amounted to EUR 449.5 million and resulted in a book gain of EUR 74 million.  The disposal amounting to EUR 327 million included a release of a negative revaluation reserve EUR 44 million, which is recycled from  equity through profit and loss account. Related sales expenses amounted to EUR 5 million. On October 1, 2012, Aegon closed the sale of its interest in Prisma Capital Partners LP (“Prisma”). Prisma, which was accounted for  as an associate, served as an investment manager for certain of Aegon’s hedge fund investments as well as for other third parties.  The final proceeds are subject to certain contingent arrangements which may lead to further payments in 2014 and 2017. The book  gain amounted to EUR 100 million. The carrying value of Prisma at the transaction date was EUR 2 million. Aegon’s share in Prisma  earnings from January 1, 2012, till October 1, 2012, amounted to EUR 10 million. The summarized financial information presented above are the amounts included in the IFRS financial statements of La Mondiale  adjusted for fair value adjustments made at the time of acquisition. Aegon considers its investment in La Mondiale Participations S.A. (La Mondiale) a material associate. The summarized financial  information presented below are the amounts included in the IFRS financial statements of La Mondiale on 100% basis, including  fair value adjustments made at the time of acquisition. CAM Prisma Summarized financial information of material associates