1. Consolidated Balance Sheet as at 31 December 2011

1.1 Consolidated Balance Sheet for Non-life and Life Insurance as at 31 December 2011

   

in EUR

 

 

31 December 2011

31 December 2010

Index

ASSETS (from A. to G.)

2,962,000,104

3,024,395,808

98

A.  INTANGIBLE  ASSETS, LONG TERM DEFERRED ITEMS

63,333,465

61,218,108

103

1. Intangible assets

24,798,439

20,034,484

124

2. Goodwill

1,148,243

2,460,627

47

3. Deferred acquisition costs

37,369,009

38,587,347

97

4. Other long-term deferred items

17,774

135,650

13

B.  LAND, BUILDINGS AND FINANCIAL ASSETS

2,233,809,016

2,280,058,091

98

I. LAND AND BUILDINGS

207,981,925

206,947,054

101

a) Directly used in insurance activities

111,197,035

122,690,795

91

              1. Land directly used in insurance activities

11,557,411

17,108,699

68

              2. Buildings directly used in insurance activities

97,914,484

103,084,369

9

              3. Other land and biuldings directly used in insurance
                  activities

1,725,140

2,497,727

69

b) Investment property

96,784,890

84,256,259

115

              1. Land

42,214,161

35,746,677

118

              2. Buildings  

54,570,729

48,509,582

112

II. FINANCIAL INVESTMENTS IN SUBSIDIARIES AND ASSOCIATED COMPANIES

20,504,562

147,333,611

14

1. Shares in subsidiaries

0

0

 

2. Debt securities and loans to subsidiaries

0

0

 

3. Shares in associated companies

20,504,562

117,067,739

18

4. Debt securities and loans to associated companies

0

3,460,461

 

5. Other financial investments in subsidiaries and associates

0

26,805,411

 

III. OTHER FINANCIAL INVESTMENTS

1,957,624,828

1,878,453,125

104

1. Long-term financial investments

1,806,376,898

1,780,124,834

101

1.1 Shares and other floating rate securities and fund coupons

170,824,413

194,750,139

88

1.2 Debt and other fixed return securities

1,359,408,951

1,385,364,483

98

1.3 Investment fund shares

1,677,527

3,504,556

48

1.4 Mortgage loans

6,686,867

6,191,012

108

1.5 Other loans

56,643,373

45,305,949

125

1.6 Deposits with banks

180,931,505

138,215,776

131

1.7 Other financial investments

30,204,262

6,792,919

445

2. Short-term financial investments

151,247,930

98,328,291

154

2.1 Shares available for sale

7,192,605

12,534,803

57

2.2 Securities available for sale and with maturity up to one year

4,154,358

8,422,632

49

2.3 Short-term loans

5,946,763

1,633,991

364

2.4 Short-term bank deposits

121,412,619

72,486,268

167

2.5 Other short-term financial investments

12,541,585

3,250,597

386

IV. FINANCIAL INVESTMENTS OF REINSURANCE COMPANIES IN REINSURANCE CONTRACTS

3,714,618

3,102,985

120

V. ASSETS FROM INVESTMENT CONTRACTS

0

0

 

VI. ASSETS FROM REINSURANCE CONTRACTS

43,983,083

44,221,316

99

1. From unearned premium

14,630,519

11,958,793

122

       - in reinsurance

14,600,653

11,943,142

122

       - in co-insurance

29,866

15,651

191

2. From mathematical provision

10,125

0

 

3. From outstanding claims

29,336,584

32,262,523

91

       - in reinsurance

29,136,440

32,251,426

90

       - in co-insurance

200,144

11,097

 

4. From bonuses and discounts

0

0

 

5. From other technical provisions

5,855

0

 

6. From technical provisions for life insurance policy holders who bear investment risk

0

0

 

C. UNIT-LINKED INSURANCE CONTRACT INVESTMENTS

364,684,374

370,627,528

98

D. RECEIVABLES

245,710,514

244,188,988

101

I. RECEIVABLES FROM DIRECT INSURANCE

118,559,324

127,992,948

93

1. Receivables from insurers

112,163,875

116,455,200

96

2. Receivables from insurance brokers

1,609,799

1,816,693

89

3. Other receivables from direct insurance operations

4,784,215

9,610,422

50

4. Receivables from direct insurance operations -associates and subsidiaries

1,435

110,633

1

II. RECEIVABLES FROM CO-INSURANCE AND REINSURANCE OPERATIONS

40,739,474

45,432,007

90

1. Premium receivable from co-insurance

594,195

8,300

 

2. Premium receivable from reinsurance

28,910,290

23,678,590

122

3. Receivables from co-insurers' share in claims

87,739

73,472

119

4. Receivables from reinsurers' share in claims

8,209,748

19,199,347

43

5. Other receivables from co-insurance and reinsurance

2,937,502

2,472,298

119

6. Receivables from co-insurance and reinsurance- associates and subsidiaries

0

0

 

II. OTHER RECEIVABLES AND DEFERRED TAX RECEIVABLES

86,411,716

70,764,033

122

1. Receivables for advanced payments for intangible assets

0

93,835

 

2. Other short-term receivables from insurance operations

15,409,067

20,947,221

74

3. Short term receivables from financing

6,133,465

1,047,944

585

4. Other short-term receivables

22,353,470

20,636,497

108

5. Long-term receivables

1,328,867

323,868

410

6. Current tax receivables

459,509

2,427

 

7. Deferred tax assets

40,661,243

27,545,028

148

8. Other short-term receivables - associates and subsidiaries

66,095

167,213

40

IV. CALLED UP SHARE CAPITAL UNPAID

0

0

 

E. OTHER ASSETS

45,553,791

59,608,855

76

I. TANGIBLE FIXED ASSETS, EXCEPT LAND AND BUILDINGS

17,611,647

19,859,866

89

1. Equipment and small tools

16,553,136

18,478,368

90

2. Other tangible fixed assets

1,058,511

1,381,498

77

II. CASH AT BANK AND IN HAND

22,771,667

34,108,090

67

III. INVENTORIES AND OTHER ASSETS

5,170,477

5,640,899

92

1. Inventories

4,199,703

4,777,236

88

2. Other assets

970,774

863,663

112

F. SHORT-TERM DEFERRED ASSETS

7,426,729

7,308,797

102

1. Accrued interest and rent

42,499

22,428

189

2. Deferred short-term expenses of insurance contract acquisition

4,233,083

3,586,486

118

3. Other short-term deferred items

3,151,147

3,699,883

85

G.NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS

1,482,215

1,385,441

107

H. OFF BALANCE SHEET ASSETS

113,932,790

235,198,101

48

  

   

in EUR

 

 

31 December 2011

31 December 2010

Index

EQUITY AND LIABILITIES (from A. to I. )

2,962,000,104

3,024,395,808

98

A. EQUITY

489,469,838

498,977,808

98I

I. SUBSCRIBED (CALLED UP) CAPITAL

73,701,402

23,701,391

311

1. Share capital

73,701,402

23,701,391

311

2. Unsubscribed capital (as deduction)

0

0

 

II. CAPITAL RESERVES

53,204,076

53,655,516

99

III. RESERVES FROM PROFIT

230,826,820

69,417,981

333

1. Security reserves

529,798

529,798

100

2. Legal and statutory reserves

19,430,982

19,451,956

100

3. Reserves for own shares

364,680

364,680

100

4. Own shares (as deduction)

-364,680

-364,680

100

5. Equalisation provision for credit insurance

34,866,040

33,436,227

104

6. Catastrophe reserves

0

0

 

7. Other reserves from profit

176,000,000

16,000,000

 

IV. FAIR VALUE RESERVE

2,786,975

45,520,845

6

1. Fair value reserve for tangible fixed assets

2,189

2,485

88

2. Fair value reserve for long-term investments

3,404,896

51,769,638

7

3. Fair value reserve for short-term investments

-609,176

-6,265,954

10

4. Other fair value reserve

-10,934

14,676

 

V. NET PROFIT / LOSS CARRIED FORWARD

61,135,220

269,153,671

23

VI. NET PROFIT / LOSS FOR THE CURRENT YEAR

46,175,732

11,313,293

408

VII. NON-CONTROLLING INTEREST

24,204,905

28,212,772

86

VIII. CURRENCY TRANSLATION DIFFERENCES

-2,565,292

-1,997,661

128

B. SUBORDINATED LIABILITIES

40,932,090

40,932,090

100

C. GROSS TEHNICAL PROVISIONS AND DEFERRED INCOME FROM PREMIUMS

1,869,646,881

1,894,832,826

99

1. Gross provisions for unearned premiums

291,740,398

296,367,451

98

2. Gross mathematical provisions

845,464,934

849,847,775

99

3. Gross claim provisions

705,464,250

711,728,317

99

4. Gross provisions for bonuses and discounts

16,599,643

17,836,389

93

5. Other gross tehnical provisions

10,377,656

19,052,894

54

D. GROSS TECHNICAL PROVISIONS FOR THE BENEFIT OF
LIFE-INSURANCE POLICYHOLDERS WHO BEAR THE INVESTMENT RISK

364,495,891

376,083,063

97

E. PROVISIONS FOR OTHER RISKS AND CHARGES

29,532,387

28,075,472

105

1. Provisions for pensions

10,392,165

10,278,077

101

2. Other provisions

19,140,222

17,797,395

108

F. LIABILITIES FROM REINSURERS' INVESTMENTS IN  REINSURANCE CONTRACTS

0

0

 

G. OTHER LIABILITIES

161,130,969

178,259,123

90

I. LIABILITIES FROM DIRECT INSURANCE OPERATIONS

20,928,061

23,243,104

90

1. Liabilities to policy holders

13,988,154

15,039,029

93

2. Liabilities to agents and brokers

1,729,573

1,709,179

101

3. Other liabilities from direct insurance operations

5,187,283

6,427,344

81

4. Liabilities from direct insurance operations- associates and subsidiaries

23,051

67,552

34

II. LIABILITIES FROM CO-INSURANCE AND REINSURANCE OPERATIONS

36,106,029

27,928,812

129

1. Liabilities for co-insurance premiums

351,997

329,698

107

2. Liabilities for reinsurance premiums

16,753,300

12,424,654

135

3. Liabilities for co-insurers' share in claims

230,150

160,085

144

4. Liabilities for reinsurers' share in claims

9,049,314

7,108,437

127

5. Other liabilities from co-insurance and re-insurance

9,717,435

7,869,425

123

6. Liabilities from co-insurance and re-insurance-associates and subsidiaries

3,833

36,513

10

III. LOANS SECURED BY FIXED RATE SECURITIES

1,843

8,744,637

 

IV. LIABIILTIES TO BANKS

10,989,987

9,583,854

115

V. LIABILITIES FROM INVESTMENT CONTRACTS

0

0

 

VI. OTHER LIABILITIES

93,105,049

108,758,716

86

a) Other long term liabilities

16,560,493

26,950,800

61

1. Long term liabilities from finance leases

6,721,004

7,204,775

93

2. Other long term liabilities

225,902

5,635,186

4

3. Deferred tax liabilities

9,613,587

14,110,839

68

b) Other short-term liabilities

76,544,556

81,807,916

94

1. Short-term liabilities to employees

14,681,752

15,208,247

97

2. Other short-term liabilities from insurance operations

15,419,553

23,915,664

64

       3. Short-term liabilities from financing

21,778,287

3,701,973

588

4. Current income tax liabilities

826,652

16,877,495

5

5. Other short-term liabilities

23,838,312

22,104,537

108

H. ACCRUED EXPENSES AND DEFERRED INCOME

6,792,048

7,235,426

94

1. Accrued expenses

3,950,952

4,254,325

93

2. Other accruals and deferred income

2,841,096

2,981,101

95

I. NON-CURRENT LIABILITIES HELD FOR SALE AND DISCONTINUED OPERATIONS

0

0

 

J. OFF BALANCE SHEET ASSETS

113,932,790

235,198,101

48

 
 
 
 
 
 
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