As at 31 December 2011 the Group has outstanding liabilities for loans totalling EUR 15.8 million (vs. EUR 24.0 million as at 31 December 2010). Outstanding liabilities refer to loans received by non-insurance group entities in the amount of EUR 8.8 million and loans received by insurance group entities in the amount of EUR 7.0 million.
The interest rates on these loans range between 2.5% and 6.5%. The interest rates linked to 3M or 6M EURIBOR was 1.3% to 4.0% plus margin.
Long-term liabilities for a finance lease are related to Triglav Osiguranje, Zagreb in the amount of EUR 6.6 million. These amounts are intended for completing the construction of an office building in Zagreb and Belgrade.
Other financial liabilities mostly refer to liabilities for security purchases.