B. CONSOLIDATED INCOME STATEMENT
Consolidated income statement
|
in EUR |
|||
|
|
Notes |
2011 |
2010 |
|
NET PREMIUM INCOME |
916,278,896 |
946,170,224 |
|
|
- gross written premium |
|
989,398,804 |
1,013,560,225 |
|
- ceded written premium |
|
-80,087,864 |
-74,371,737 |
|
- change in unearned premiums |
|
6,967,956 |
6,981,736 |
|
INCOME FROM FINANCIAL ASSETS |
148,981,933 |
181,533,361 |
|
|
INCOME FROM FINANCIAL ASSETS IN ASSOCIATES |
|
4,269,157 |
6,332,162 |
|
- profit on equity investments accounted for using the equity method |
4,265,615 |
3,525,434 |
|
|
- interest expense |
|
3,060 |
1,353,194 |
|
- fair value gains |
0 |
187,561 |
|
|
- realised gains on disposals |
0 |
1,261,807 |
|
|
- other financial income |
|
482 |
4,166 |
|
INCOME FROM OTHER FINANCIAL ASSETS |
|
118,961,870 |
132,682,856 |
|
- interest income |
|
85,744,485 |
83,863,954 |
|
- dividends |
|
4,366,741 |
3,110,228 |
|
- fair value gains |
6,575,898 |
12,834,622 |
|
|
- realised gains on disposals |
16,145,886 |
26,366,161 |
|
|
- other financial income |
|
6,128,860 |
6,507,892 |
|
NET UNREALISED GAINS ON UNITLINKED LIFE INSURANCE ASSETS |
25,750,906 |
42,518,343 |
|
|
OTHER INCOME FROM INSURANCE OPERATIONS |
26,441,506 |
22,433,024 |
|
|
- fees and commission income |
|
17,402,868 |
14,633,234 |
|
- other income from insurance operations |
|
9,038,638 |
7,799,790 |
|
OTHER INCOME |
57,156,897 |
61,561,494 |
|
|
NET CLAIMS INCURRED |
576,117,033 |
557,704,906 |
|
|
- gross claims settled |
|
593,872,215 |
588,325,459 |
|
- reinsurers’ share |
|
-22,450,576 |
-30,148,316 |
|
- changes in claims provisions |
|
-1,961,843 |
-6,334,129 |
|
- equalisation scheme expenses for supplementary health insurance |
6,657,237 |
5,861,892 |
|
|
CHANGE IN OTHER INSURANCE TECHNICAL PROVISIONS |
-2,909,572 |
62,450,614 |
|
|
CHANGE IN INSURANCE TECHNICAL PROVISIONS FOR UNIT-LINKED INSURANCE CONTRACTS |
- 11,402,162 |
66,351,880 |
|
|
EXPENSES FOR BONUSES AND DISCOUNTS |
6,458,995 |
5,735,228 |
|
|
OPERATING EXPENSES |
203,308,320 |
208,135,976 |
|
|
- acquisition costs |
|
130,633,390 |
132,463,862 |
|
- other operating costs |
|
72,674,930 |
75,672,114 |
|
EXPENSES FROM FINANCIAL ASSETS AND LIABILITIES |
202,010,429 |
121,554,254 |
|
|
EXPENSES FROM FINANCIAL ASSETS AND LIABILITIES IN ASSOCIATES |
19,175,570 |
4,683,649 |
|
|
- loss on investments accounted for using the equity method |
16,977,661 |
1,504,027 |
|
|
- interest expense |
|
0 |
589,645 |
|
- fair value losses |
1,775,494 |
174,093 |
|
|
- realised loss on disposals |
|
94,434 |
0 |
|
- loss on impairment of financial assets |
327,453 |
2,387,884 |
|
|
- other expenses from financial assets and liabilities |
|
528 |
28,000 |
|
EXPENSES FROM OTHER FINANCIAL ASSETS AND LIABILITIES |
|
107,035,830 |
88,273,022 |
|
- interest expense |
|
5,849,807 |
6,531,136 |
|
- fair value losses |
10,847,926 |
12,215,391 |
|
|
- realised loss on disposals |
17,273,701 |
9,414,307 |
|
|
- loss on impairment of financial assets |
62,861,127 |
48,664,399 |
|
|
- other expenses from financial assets and liabilities |
|
10,203,269 |
11,447,789 |
|
NET UNREALISED LOSSES ON UNIT-LINKED LIFE INSURANCE ASSETS |
75,799,029 |
28,597,583 |
|
|
OTHER INSURANCE EXPENSES |
55,953,030 |
61,439,998 |
|
|
OTHER EXPENSES |
61,323,544 |
85,074,981 |
|
|
PROFIT/ LOSS BEFORE TAX |
|
57,999,615 |
43,250,266 |
|
Income tax expense |
-10,502,374 |
-16,600,458 |
|
|
NET PROFIT / LOSS FOR THE ACCOUNTING PERIOD |
|
47,497,241 |
26,649,808 |
|
Net profit / loss attributable to the controlling company |
|
47,060,748 |
27,846,858 |
|
Net profit / loss attributable to non-controlling interest holders |
|
436,490 |
-1,197,048 |
