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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