Income statement for 2011 - according to IFRS | Annual report of the Triglav Group 2011

Income statement for 2011 - according to IFRS

		in EUR
	2011	2010	Index
NET PREMIUM INCOME	916,278,896	946,170,224	97
Gross written premium	989,398,804	1,013,560,225	98
Ceded written premium	-80,087,864	-74,371,737	108
Change in unearned premiums	6,967,956	6,981,736	100
TOTAL INCOME FROM FINANCIAL ASSETS	148,981,933	181,533,361	82
INCOME FROM FINANCIAL ASSETS IN ASSOCIATES	4,269,157	6,332,162	67
- profit on equity investments accounted for using the equity method	4,265,615	3,525,434	121
- interest income	3,060	1,353,194	0
- dividends	0	0
- fair value gains	0	187,561	0
- realised gains on disposals	0	1,261,807	0
- other financial income	482	4,166	12
INCOME FROM OTHER FINANCIAL ASSETS	118,961,870	132,682,856	90
- interest income	85,744,485	83,863,954	102
- dividends	4,366,741	3,110,228	140
- fair value gains	6,575,898	12,834,622	51
- realised gains on disposals	16,145,886	26,366,161	61
- other financial income	6,128,860	6,507,892	94
NET UNREALISED GAINS ON UNIT-LINKED LIFE INSURANCE ASSETS	25,750,906	42,518,343	61
OTHER INCOME FROM INSURNCE OPERATIONS	26,441,506	22,433,024	118
- fees and commission income	17,402,868	14,633,234	119
- other income from insurance operations	9,038,638	7,799,790	116
OTHER INCOME	57,156,897	61,561,494	93
NET CLAIMS INCURRED	576,117,033	557,704,906	103
- gross claims settled	593,872,215	588,325,459	101
- reinsurers’ and co-insurers’ share	-22,450,576	-30,148,316	74
- changes in claims provisions	-1,961,843	-6,334,129	31
- equalisation scheme expenses for supplementary health insurance	6,657,237	5,861,892	114
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	113
CHANGE IN LIABILITIES FROM INVESTMENT CONTRACTS	0	0
OPERATING COSTS	203,308,320	208,135,976	98
- acquisition costs	130,633,390	132,463,862	99
- other operating costs	72,674,930	75,672,114	96
EXPENSES FROM FINANCIAL ASSETS AND LIABILITIES	202,010,429	121,554,254	166
EXPENSES FROM FINANCIAL ASSETS AND LIABILITIES IN ASSOCIATES	19,175,570	4,683,649	409
- loss on investments accounted for using the equity method	16,977,661	1,504,027	1,129
- interest expense	0	589,645	0
- fair value losses	1,775,494	174,093	1,020
- realised loss on disposals	94,434	0
- loss on impairment of financial assets	327,453	2,387,884	14
- other expenses from financial assets and liabilities	528	28,000	2
EXPENSES FROM OTHER FINANCIAL ASSETS AND LIABILITIES	107,035,830	88,273,022	121
- interest expense	5,849,807	6,531,136	90
- fair value losses	10,847,926	12,215,391	89
- realised loss on disposals	17,273,701	9,414,307	183
- loss on impairment of financial assets	62,861,127	48,664,399	129
- other expenses from financial assets and liabilities	10,203,269	11,447,789	89
NET UNREALISED LOSSES ON UNIT-LINKED LIFE INSURANCE ASSETS	75,799,029	28,597,583	265
OTHER INSURANCE EXPENSES	55,953,030	61,439,998	91
OTHER EXPENSES	61,323,544	85,074,981	72
PROFIT/ LOSS BEFORE TAX	57,999,615	43,250,266	134
INCOME TAX EXPENSE	-10,502,374	-16,600,458	63
NET PROFIT / LOSS FOR THE ACCOUNTING PERIOD	47,497,241	26,649,808	178
Net profit / loss attributable to the controlling company	47,060,748	27,846,858	169
Net profit / loss attributable to non-controlling interest holders	436,490	-1,197,048

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Income statement for 2011 - according to IFRS (XLS / 26.50 kB)

Operating performance

Income statement for 2011 - according to IFRS

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