1.3 Consolidated Balance Sheet for Life Insurance as at 31 December 2011

 

 

in EUR

 

 

31 December 2011

31 December 2010

Index

ASSETS ( from A. to G.)

1,349,724,861

1,373,974,121

98

A. INTANGIBLE  ASSETS, LONG TERM DEFERRED ITEMS

2,112,312

2,079,824

102

1. Intangible assets

2,112,312

2,079,824

102

2. Goodwill

0

0

 

3. Deferred acquisition costs

0

0

 

4. Other long-term deferred items

0

0

 

B. LAND, BUILDINGS AND FINANCIAL ASSETS

964,318,074

984,452,423

98

LAND AND BUILDINGS

12,960,376

12,772,933

101

a) Directly used in insurance activities

9,723,717

9,904,503

98

              1. Land directly used in insurance activities

640,219

639,596

100

              2. Buildings directly used in insurance activities

9,080,365

9,264,907

98

              3. Other land and biuldings directly used in
                  insurance activities

3,133

0

 

b) Investment property

3,236,659

2,868,430

113

              1. Land

328,069

328,069

100

              2. Buildings

2,908,590

2,540,361

114

II. FINANCIAL INVESTMENTS IN SUBSIDIARIES AND ASSOCIATED COMPANIES

7,416,171

27,182,610

27

1. Shares in subsidiaries

0

0

 

2. Debt securities and loans to subsidiaries

0

0

 

3. Shares in associated companies

7,416,171

16,633,386

45

4. Debt securities and loans to associated companies

0

3,284,491

 

5. Other financial investments in subsidiaries and associates

0

7,264,733

 

III. OTHER FINANCIAL INVESTMENTS

943,927,747

944,496,497

100

1. Long-term financial investments

890,829,392

921,932,262

97

1.1 Shares and other floating rate securities and fund coupons

39,112,831

45,892,717

85

1.2 Debt and other fixed return securities

748,331,904

783,408,785

96

1.3 Investment fund shares

0

0

 

1.4 Mortgage loans

79,811

0

 

1.5 Other loans

31,249,410

31,284,646

100

1.6 Deposits with banks

71,335,663

60,293,672

118

1.7 Other financial investments

719,773

1,052,442

68

2. Short-term financial investments

53,098,355

22,564,235

235

2.1 Shares available for sale

2,439,766

3,923,647

62

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

2,790,020

500,675

557

2.3 Short-term loans

0

0

 

2.4 Short-term bank deposits

47,167,723

17,366,548

272

2.5 Other short-term financial investments

700,846

773,365

91

IV. FINANCIAL INVESTMENTS OF REINSURANCE COMPANIES IN REINSURANCE CONTRACTS

0

0

 

V. ASSETS FROM INVESTMENT CONTRACTS

0

0

 

VI. ASSETS FROM REINSURANCE CONTRACTS

13,780

383

 

1. From unearned premium

3,655

383

954

       - in reinsurance

3,655

383

954

       - in co-insurance

0

0

 

2. From mathematical provision

10,125

0

 

3. From outstanding claims

0

0

 

       - in reinsurance

0

0

 

       - in co-insurance

0

0

 

4. From bonuses and discounts

0

0

 

5. From other technical provisions

0

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

12,328,813

12,910,111

95

I. RECEIVABLES FROM DIRECT INSURANCE

574,375

1,120,714

51

1. Receivables from insurers

402,936

444,512

91

2. Receivables from insurance brokers

231

1,111

21

3. Other receivables from direct insurance operations

171,208

675,091

25

4. Receivables from direct insurance operations -associates and subsidiaries

0

0

 

II. RECEIVABLES FROM CO-INSURANCE AND REINSURANCE OPERATIONS

168

6,195

3

1. Premium receivable from co-insurance

0

0

 

2. Premium receivable from reinsurance

0

0

 

3. Receivables from co-insurers' share in claims

0

0

 

4. Receivables from reinsurers' share in claims

-8,024

0

 

5. Other receivables from co-insurance and reinsurance

8,192

6,195

132

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

0

0

 

III. OTHER RECEIVABLES AND DEFERRED TAX RECEIVABLES

11,754,270

11,783,202

100

1. Receivables for advanced payments for intangible assets

0

0

 

2. Other short-term receivables from insurance operations

331,581

8,145,050

4

3. Short term receivables from financing

4,551,822

33,694

 

4. Other short-term receivables 

1,658,592

1,601,559

104

5. Long-term receivables

0

0

 

6. Current tax receivables

173

18

961

7. Deferred tax assets

5,156,245

1,954,592

264

8. Other short-term receivables - associates and subsidiaries

55,857

48,289

116

IV. CALLED UP SHARE CAPITAL UNPAID

0

0

 

E. OTHER ASSETS

6,192,241

3,483,502

178

I. TANGIBLE FIXED ASSETS, EXCEPT LAND AND BUILDINGS

1,457,622

1,971,664

74

1. Equipment and small tools

1,433,628

1,941,919

74

2. Other tangible fixed assets

23,994

29,745

81

II. CASH AT BANK AND IN HAND

4,730,013

1,506,322

314

III. INVENTORIES AND OTHER ASSETS

4,606

5,516

84

1. Inventories

208

4,661

4

2. Other assets

4,398

855

514

F. SHORT-TERM DEFERRED ASSETS

89,047

420,733

21

1. Accrued interest and rent

0

0

 

2. Deferred short-term expenses of insurance contract acquisition

1,373

175,954

1

3. Other short-term deferred items

87,674

244,779

36

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

0

0

 

H. OFF BALANCE SHEET ASSETS

9,559,638

37,874,495

25

  

 

 

in EUR

 

 

31 December 2011

31 December 2010

Index

EQUITY AND LIABILITIES (from A. to I.)

1,349,724,861

1,373,974,121

98

A. EQUITY

73,702,515

86,220,556

85

I. SUBSCRIBED (CALLED UP) CAPITAL

22,360,851

7,190,851

311

1. Share capital

22,360,851

7,190,851

311

2. Unsubscribed capital (as deduction)

0

0

 

II. CAPITAL RESERVES

13,067,907

13,067,907

100

III. RESERVES FROM PROFIT

32,088,136

1,969,667

 

1. Security reserves

153,499

153,499

100

2. Legal and statutory reserves

1,816,165

1,816,168

100

3. Reserves for own shares

0

0

 

4. Own shares (as deduction)

0

0

 

5. Equalisation provision for credit insurance

0

0

 

6. Catastrophe reserves

0

0

 

7. Other reserves from profit

30,118,472

0

 

IV. FAIR VALUE RESERVE

-8,948,617

7,586,190

 

1. Fair value reserve for tangible fixed assets

0

0

 

2. Fair value reserve for long-term investments

-8,534,689

7,419,436

 

3. Fair value reserve for short-term investments

-413,928

166,754

 

4. Other fair value reserve

0

0

 

V. NET PROFIT / LOSS CARRIED FORWARD

9,713,425

51,030,656

19

VI. NET PROFIT / LOSS FOR THE CURRENT YEAR

5,614,106

5,616,101

100

VII. NON-CONTROLLING INTEREST

881,100

821,564

107

VIII. CURRENCY TRANSLATION DIFFERENCES

-1,074,393

-1,062,380

101

B. SUBORDINATED LIABILITIES

13,672,424

13,672,424

100

C. GROSS TEHNICAL PROVISIONS AND DEFERRED INCOME FROM PREMIUMS

866,515,326

871,682,869

99

1. Gross provisions for unearned premiums

425,005

363,380

117

2. Gross mathematical provisions

845,464,934

849,847,775

99

3. Gross claim provisions

20,625,387

21,471,714

96

4. Gross provisions for bonuses and discounts

0

0

 

5. Other gross tehnical provisions

0

0

 

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

1,823,048

1,659,648

110

1. Provisions for pensions

1,488,470

1,659,139

90

2. Other provisions

334,578

509

 

F. LIABILITIES FROM REINSURERS' INVESTMENTS IN REINSURANCE CONTRACTS

0

0

 

G. OTHER LIABILITIES

29,072,238

24,089,214

121

I. LIABILITIES FROM DIRECT INSURANCE OPERATIONS

7,953,836

10,213,309

78

1. Liabilities to policy holders

7,112,579

8,174,900

87

2. Liabilities to agents and brokers

85,988

145,545

59

3. Other liabilities from direct insurance operations

737,468

1,842,580

40

4. Liabilities from direct insurance operations- associates and subsidiaries

17,801

50,284

35

II. LIABILITIES FROM CO-INSURANCE AND REINSURANCE OPERATIONS

12,243

15,345

80

1. Liabilities for co-insurance premiums

0

0

 

2. Liabilities for reinsurance premiums

12,243

15,345

80

3. Liabilities for co-insurers' share in claims

0

0

 

4. Liabilities for reinsurers' share in claims

0

0

 

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

0

0

 

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

0

0

 

III. LOANS SECURED BY FIXED RATE SECURITIES

0

0

 

IV. LIABIILTIES TO BANKS

0

0

 

V. LIABILITIES FROM INVESTMENT CONTRACTS

0

0

 

VI. OTHER LIABILITIES

21,106,159

13,860,560

152

a) Other long term liabilities

-305,578

1,632,498

 

1. Long term liabilities from finance leases

0

0

 

2. Other long term liabilities

1,750

1,750

100

3. Deferred tax liabilities

-307,328

1,630,748

 

b) Other short-term liabilities

21,411,737

12,228,062

175

1. Short-term liabilities to employees

16,171

10,886

149

2. Other short-term liabilities from insurance operations

9,971,035

8,450,993

118

3. Short-term liabilities from financing

5,498,319

10,651

 

4. Current income tax liabilities

23,937

0

 

5. Other short-term liabilities

5,902,275

3,755,532

157

H. ACCRUED EXPENSES AND DEFERRED INCOME

443,419

566,347

78

1. Accrued expenses

434,499

565,909

77

2. Other accruals and deferred income

8,920

438

 

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

0

0

 

J. OFF BALANCE SHEET ASSETS

9,559,638

37,874,495

25

 
 
 
 
 
 
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