Annual report 2017
CONSOLIDATED BALANCE SHEET 31 December 2017
|
1 |
0 |
3 |
8 |
9 |
3 |
9 |
5 |
6 |
5 |
1 |
1 |
1 |
1 |
4 |
0 |
1 |
Statistical code
AEGON Magyarország Általános Biztosító Zrt.
Assets
HUF million
|
Description |
Previous year |
Current year |
|||
|
Total |
Life |
Non-life |
Other, unallocated |
Total |
|
|
a |
b |
c |
d |
e |
|
|
A. Intangible assets |
4,636 |
1,092 |
2,887 |
1,607 |
5,586 |
|
B. Investments |
184,210 |
74,103 |
40,701 |
75,998 |
190,802 |
|
I. Real estate |
1,926 |
0 |
1,911 |
1 |
1,912 |
|
of which: self-occupied real estate |
1,926 |
0 |
1,911 |
1 |
1,912 |
|
II. Investments in affiliated undertakings |
0 |
0 |
0 |
0 |
0 |
|
1. Equity investments in parent companies and subsidiaries |
0 |
0 |
0 |
0 |
0 |
|
2. Debt securities issued by, and loans to, parent company and subsidiaries |
0 |
0 |
0 |
0 |
0 |
|
3. Equity investments in joint companies |
0 |
0 |
0 |
0 |
0 |
|
4. Debt securities issued by, and loans to, joint companies |
0 |
0 |
0 |
0 |
0 |
|
III. Other investments |
182,284 |
74,103 |
38,790 |
75,997 |
188,890 |
|
1. Equity investments in undertakings with which the insurance undertaking is linked by virtue of a significant participating interest |
9,342 |
4,082 |
10,327 |
100 |
14,509 |
|
2. Debt securities (except II/2. and II/4.) |
108,668 |
69,582 |
28,463 |
21,167 |
119,212 |
|
3. Participation in investment pools |
0 |
0 |
0 |
0 |
0 |
|
4. Loans guaranteed by mortgages (except II/2. and II/4. and III/5.) |
63,058 |
0 |
0 |
54,105 |
54,105 |
|
5. Other loans (except II/2. and II/4. and III/4.) |
1,216 |
439 |
0 |
625 |
1,064 |
|
6. Deposits with credit institutions |
0 |
0 |
0 |
0 |
0 |
|
7. Other investments |
0 |
0 |
0 |
0 |
0 |
|
IV. Deposits with ceding undertakings |
0 |
0 |
0 |
0 |
0 |
|
V. Revaluation of investments |
0 |
0 |
0 |
0 |
0 |
|
VI. Investment valuation difference |
0 |
0 |
0 |
0 |
0 |
|
VII. Capital consolidation related to subsidiaires and associated undertakings |
0 |
0 |
0 |
0 |
0 |
|
C. A Investments for the benefit of unit-linked life assurance policyholders |
76,029 |
74,042 |
0 |
0 |
74,042 |
|
D. Debtors |
4,541 |
765 |
2,167 |
9,343 |
12,275 |
|
I. Debtors arising out of direct insurance operations |
1,818 |
353 |
1,735 |
0 |
2,088 |
|
1. Policyholders |
1,600 |
336 |
1,469 |
0 |
1,805 |
|
of which: a) affiliated undertakings |
0 |
0 |
0 |
0 |
0 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
2. Claims on insurance intermediaries |
67 |
17 |
81 |
0 |
98 |
|
of which: a) affiliated undertakings |
0 |
0 |
0 |
0 |
0 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
3. Other debtors arising out of direct insurance activity |
151 |
0 |
185 |
0 |
185 |
|
of which: a) affiliated undertakings |
0 |
0 |
0 |
0 |
0 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
II. Debtors arising out of reinsurance operations |
6 |
9 |
63 |
0 |
72 |
|
of which: a) affiliated undertakings |
0 |
0 |
0 |
0 |
0 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
III. Reinsurers’ share of the life assurance reserve |
0 |
0 |
0 |
0 |
0 |
|
IV. Other debtors |
2,717 |
403 |
369 |
9,343 |
10,115 |
|
of which: a) affiliated undertakings |
40 |
0 |
30 |
7,006 |
7,036 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
V. Corporate income tax receivable arising from consolidation (computed) |
0 |
0 |
0 |
0 |
0 |
|
VI. Derivates valuation difference |
0 |
0 |
0 |
0 |
0 |
|
VII. Corporate income tax receivable arising from consodilation (computed) |
0 |
0 |
0 |
0 |
0
|
|
E. Other assets |
6,605 |
720 |
3,801 |
5,768 |
10,289 |
|
1. Tangible assets (other than land and buildings), inventories |
2,198 |
195 |
1,052 |
1,415 |
2,662 |
|
2. Cash at bank and in hand |
4,407 |
525 |
2,749 |
4,353 |
7,627 |
|
3. Repurchased own shares |
0 |
0 |
0 |
0 |
0 |
|
4. Other |
0 |
0 |
0 |
0 |
0 |
|
F. Prepayments and accrued income |
8,189 |
5,263 |
2,411 |
603 |
8,277 |
|
1. Accrued interest and rent |
1,744 |
847 |
133 |
234 |
1,214 |
|
2. Deferred acquisition costs |
4,425 |
3,823 |
0 |
0 |
3,823 |
|
3. Other prepayments and accrued income |
2,020 |
593 |
2,278 |
369 |
3,240 |
|
Total assets |
284,210 |
155,985 |
51,967 |
93,319 |
301,271 |
|
Budapest, 23 April 2018 |
……………………………………… |
|
|
|
|
……………………………………… |
……………………………………… |
CONSOLIDATED BALANCE SHEET, 31 December 2017
|
1 |
0 |
3 |
8 |
9 |
3 |
9 |
5 |
6 |
5 |
1 |
1 |
1 |
1 |
4 |
0 |
1 |
Statistical code
AEGON Magyarország Általános Biztosító Zrt.
Liabilities and equity
HUF million
|
Description |
Previous year |
Current year |
|||
|
Total |
Life |
Non-life |
Other, unallocated |
Total |
|
|
a |
b |
c |
d |
e |
|
|
A. Capital and reserves |
35,329 |
13,477 |
11,743 |
11,992 |
37,212 |
|
I. Subscribed capital |
6,374 |
3,633 |
2,741 |
0 |
6,374 |
|
of which: repurchased participation at nominal value |
0 |
0 |
0 |
0 |
0 |
|
II. Subscribed capital no yet paid up (-) |
0 |
0 |
0 |
0 |
0 |
|
III. Capital reserve |
5,471 |
4,317 |
1,154 |
0 |
5,471 |
|
IV. Retained earnings (+/-) |
37,900 |
1,319 |
-966 |
37,863 |
38,216 |
|
V. Restricted reserve |
869 |
306 |
724 |
0 |
1,030 |
|
VI. Revaluation reserve |
0 |
0 |
0 |
0 |
0 |
|
1. Reserve of revaluation |
0 |
0 |
0 |
0 |
0 |
|
2. Fair value reserve |
0 |
0 |
0 |
0 |
0 |
|
of witch: to the policyholders |
0 |
0 |
0 |
0 |
0 |
|
VII. Profit for the financial year (+/-) |
13,523 |
3,902 |
8,090 |
1,891 |
13,883 |
|
VIII. Changes in the equity of subsidiaries (+/- |
-28,808 |
0 |
0 |
-27,762 |
-27,762 |
|
IX. Changes resulting from consolidation (+/-) |
0 |
0 |
0 |
0 |
0 |
|
– from differential of debt consolidation |
0 |
0 |
0 |
0 |
0 |
|
– from differential of interim profits |
0 |
0 |
0 |
0 |
0 |
|
X. Participation of external members (other owners) |
0 |
0 |
0 |
0 |
0 |
|
B. Subordinated liabilities |
68 |
0 |
0 |
68 |
68 |
|
B/1. Differential of debt consolidation in subsidiaries |
68 |
0 |
0 |
68 |
68 |
|
C. Technical provisions |
86,528 |
61,615 |
32,853 |
0 |
94,468 |
|
1. Provision for unearned premiums [a) + b)] |
5,454 |
75 |
6,851 |
0 |
6,926 |
|
a) gross amount |
5,521 |
105 |
7,028 |
0 |
7,133 |
|
b) reinsurance amount (-) |
67 |
30 |
177 |
0 |
207 |
|
2. Actuarial provisions |
61,412 |
57,112 |
7,380 |
0 |
64,492 |
|
a) life assurance premium provision [aa)+ab)] |
54,044 |
57,112 |
0 |
0 |
57,112 |
|
aa) gross amount |
54,044 |
57,112 |
0 |
0 |
57,112 |
|
of which: reinsurance amount |
0 |
0 |
0 |
0 |
0 |
|
ab). reinsurance amount (risk insurance) (-) |
0 |
0 |
0 |
0 |
0 |
|
b) health insurance premium provisions (1+ |
0 |
0 |
0 |
0 |
0 |
|
ba). gross amount |
0 |
0 |
0 |
0 |
0 |
|
bb). reinsurance amount |
0 |
0 |
0 |
0 |
0 |
|
c) accident insurance annuity provision |
11 |
0 |
10 |
0 |
10 |
|
ca). gross amount |
11 |
0 |
10 |
0 |
10 |
|
cb). reinsurance amount (-) |
0 |
0 |
0 |
0 |
0 |
|
d) liability insurance annuity provision (1+2) |
7,357 |
0 |
7,370 |
0 |
7,370 |
|
da). gross amount |
7,764 |
0 |
7,562 |
0 |
7,562 |
|
db) reinsurance amount (-) |
407 |
0 |
192 |
0 |
192 |
|
3. Claims outstanding [a)+b)] |
19,045 |
4,110 |
18,290 |
0 |
22,400 |
|
a) case-by-case provisions [aa)+ab)] |
12,977 |
3,638 |
12,680 |
0 |
16,318 |
|
aa) gross amount |
13,346 |
3,667 |
13,360 |
0 |
17,027 |
|
ab) reinsurance amount (-) |
369 |
29 |
680 |
0 |
709 |
|
b) IBNR |
6,068 |
472 |
5,610 |
0 |
6,082 |
|
ba) gross amount |
6,103 |
487 |
5,638 |
0 |
6,125 |
|
bb) reinsurance amount (-) |
35 |
15 |
28 |
0 |
43 |
|
4. Profit-dependent and profit-independent premium reimbursement provisions [a)+b)] |
50 |
10 |
43 |
0 |
53 |
|
a) Profit-dependent |
35 |
0 |
35 |
0 |
35 |
|
aa) gross amount |
35 |
0 |
35 |
0 |
35 |
|
ab) reinsurance amount (-) |
0 |
0 |
0 |
0 |
0 |
|
b) profit-independent |
15 |
10 |
8 |
0 |
18 |
|
ba) gross amount |
15 |
10 |
8 |
0 |
18 |
|
bb) reinsurance amount (-) |
0 |
0 |
0 |
0 |
0 |
|
5. Equalisation provision |
115 |
0 |
115 |
0 |
115 |
|
6. Other provisions [a)+b)+c)] |
452 |
308 |
174 |
0 |
482 |
|
a) Large claim provisions |
21 |
0 |
21 |
0 |
21 |
|
b) Cancellation provisions [ba)+bb)] |
261 |
156 |
153 |
0 |
309 |
|
ba) gross amount |
289 |
156 |
172 |
0 |
328 |
|
bb) reinsurance amount (-) |
28 |
0 |
19 |
0 |
19 |
|
c) other technical provision [ca)+cb)] |
170 |
152 |
0 |
0 |
152 |
|
ca) gross amount |
170 |
152 |
0 |
0 |
152 |
|
cb) reinsurance amount (-) |
0 |
0 |
0 |
0 |
0 |
|
D. Technical provisions for unit-linked life assurance policyholders (1+2) |
76,029 |
74,042 |
0 |
0 |
74,042 |
|
a) gross amount |
76,029 |
74,042 |
0 |
0 |
74,042 |
|
b) reinsurance amount (-) |
0 |
0 |
0 |
0 |
0 |
|
E. Specific provisions |
853 |
801 |
188 |
123 |
1,112 |
|
1. Provisions for contingent liabilities |
752 |
700 |
188 |
123 |
1,011 |
|
2. Provisions for future expenses |
101 |
101 |
0 |
0 |
101 |
|
3. Other provisions |
0 |
0 |
0 |
0 |
0 |
|
F. Deposits received from reinsurers |
0 |
0 |
0 |
0 |
0 |
|
G. Creditors |
78,683 |
2,869 |
3,449 |
80,227 |
86,545 |
|
I. Creditors arising out of direct insurance operations |
2,722 |
356 |
2,737 |
0 |
3,093 |
|
of which: a) affiliated undertakings |
0 |
0 |
0 |
0 |
0 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
II. Creditors arising out of reinsurance operations |
210 |
34 |
509 |
0 |
543 |
|
of which: a) affiliated undertakings |
0 |
0 |
0 |
0 |
0 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
III. Creditors arising out of bond issues |
0 |
0 |
0 |
0 |
0 |
|
of which: a) affiliated undertakings |
0 |
0 |
0 |
0 |
0 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
IV. Credits |
63,750 |
0 |
0 |
62,000 |
62,000 |
|
of which: a) affiliated undertakings |
63,750 |
0 |
0 |
62,000 |
62,000 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
V. Other creditors |
12,001 |
2,479 |
203 |
18,227 |
20,909 |
|
of which: a) affiliated undertakings |
6 |
0 |
0 |
0 |
0 |
|
b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests |
0 |
0 |
0 |
0 |
0 |
|
c) undertakings with which an insurance undertaking is linked by virtue of participating interests |
0 |
0 |
0 |
0 |
0 |
|
VI. Creditors valuation difference |
0 |
0 |
0 |
0 |
0 |
|
VII. Derivates valuation difference |
0 |
0 |
0 |
0 |
0 |
|
VIII: Corporate income tax liability resulting from consolidation (computed) |
0 |
0 |
0 |
0 |
0 |
|
H. Accruals and deferred income |
6,720 |
3,181 |
3,734 |
909 |
7,824 |
|
1. Accrued income |
1 |
1 |
0 |
0 |
1 |
|
2. Accrued costs and expenditure |
6,719 |
3,136 |
3,734 |
909 |
7,779 |
|
3. Deferred income |
0 |
44 |
0 |
0 |
44 |
|
Total liabilities and equity |
284,210 |
155,985 |
51,967 |
93,319 |
301,271 |
|
Budapest, 23 April 2018 |
……………………………………… |
|
|
|
|
……………………………………… |
……………………………………… |
CONSOLIDATED PROFIT AND LOSS ACCOUNT 31 December 2017
Statistical code
AEGON Magyarország Általános Biztosító Zrt.
HUF million
|
Description |
Previous year, total |
Current year, total |
|
A) Non-life insurance business |
a |
b |
|
01. Earned premiums, net of reinsurance |
53,470 |
64,320 |
|
a) gross premiums written |
56,140 |
67,489 |
|
b) outward reinsurance premiums (-) |
1,925 |
2,228 |
|
c) change in the gross provision for unearned premiums (+/-) |
751 |
1,089 |
|
d) change in the provision for unearned premiums, reinsurers’ share (+/-) |
-6 |
-148 |
|
02. Profit from investments to be returned to policyholders (same as C/06.) |
0 |
0 |
|
03. Other technical income |
262 |
254 |
|
04. Claims incurred |
23,939 |
29,896 |
|
a) claims paid and claim settlement expenses |
22,733 |
27,091 |
|
aa) claim payments |
20,360 |
24,527 |
|
1. gross amount |
20,742 |
25,212 |
|
2. reinsurers’ share (-) |
382 |
685 |
|
ab) claim settlement expenses |
2,703 |
2,907 |
|
ac) income from claim recovery and claim settlement expense reimbursement (-) |
330 |
343 |
|
b) changes in the provision for claims outstanding (+/-) |
1,206 |
2,805 |
|
ba) case-by-case |
447 |
2,875 |
|
1. gross amount |
349 |
2,586 |
|
2. reinsurers’ share (-) |
-98 |
-289 |
|
bb) IBNR |
759 |
-70 |
|
1. gross amount |
783 |
-207 |
|
2. reinsurers’ share (-) |
24 |
-137 |
|
05. Changes in actuarial provisions (+/-) |
66 |
12 |
|
a) changes in the health insurance premium provision (+/-) |
0 |
0 |
|
aa) gross amount |
0 |
0 |
|
ab) reinsurers’ share (-) |
0 |
0 |
|
b) changes in the accident insurance annuity provision (+/-) |
-1 |
-1 |
|
ba) gross amount |
-1 |
-1 |
|
bb) reinsurers’ share (-) |
0 |
0 |
|
c) changes in the liability insurance annuity provisions (+/-) |
67 |
13 |
|
ca) gross amount |
-52 |
-204 |
|
cb) reinsurers’ share (-) |
-119 |
-217 |
|
06. Changes in the profit-dependent and profit-independent premium reimbursement provisions (+/-) |
-1 |
-1 |
|
a) profit-dependent premium reimbursement provisions (+/-) |
0 |
0 |
|
aa) gross amount |
0 |
0 |
|
ab) reinsurers’ share (-) |
0 |
0 |
|
b) profit-independent premium reimbursement provisions (+/-) |
-1 |
-1 |
|
ba) gross amount |
-1 |
-1 |
|
bb) reinsurers’ share (-) |
0 |
0 |
|
07. Changes in the equalisation provision (+/-) |
0 |
0 |
|
08. Changes in other provisions (+/-) |
12 |
28 |
|
a) large claim provisions |
0 |
0 |
|
b) cancellation provisions |
12 |
28 |
|
ba) gross amount |
19 |
27 |
|
bb) reinsurers’ share (-) |
7 |
-1 |
|
c) Changes in other technical provisions (+/-) |
0 |
0 |
|
ca) gross amount |
0 |
0 |
|
cb) reinsurers’ share (-) |
0 |
0 |
|
09. Net operating expenses |
17,488 |
21,208 |
|
a) acquisition costs incurred in the financial year |
11,460 |
14,482 |
|
b) change in deferred acquisition costs (+/-) |
0 |
0 |
|
c) administrative expenses (except investment costs) |
6,030 |
6,731 |
|
d) reinsurance commissions and profit participation (-) |
2 |
5 |
|
10. Other technical charges |
4,675 |
5,140 |
|
A) INSURANCE TECHNICAL PROFIT (01+02+03-04-05-06-07-08-09-10) |
7,553 |
8,291 |
|
Description |
Previous year, total |
Current year, total |
|
B) Life assurance business |
a |
b |
|
01. Earned premiums, net of reinsurance |
38,902 |
38,032 |
|
a) gross premiums written |
39,129 |
38,261 |
|
b) outward reinsurance premiums (-) |
233 |
218 |
|
c) change in the provision for unearned premiums (+/-) |
10 |
3 |
|
d) change in the provision for unearned premiums, reinsurers’ share (+/-) |
-16 |
8 |
|
02. Technical income from investments |
2,927 |
2,962 |
|
a) income from participating interests |
0 |
0 |
|
of which: derived from affiliated undertakings |
0 |
0 |
|
b) income from other investments |
2,958 |
2,911 |
|
of which: derived from affiliated undertakings |
0 |
0 |
|
ba) income from tangible assets related to the insurance portfolio |
0 |
0 |
|
bb) interest received and interest type income |
2,958 |
2,911 |
|
c) gains on the realisation of investments, other investment income |
-31 |
51 |
|
d) allocated investment return transferred from life assurance (same as C/05.) (-) |
0 |
0 |
|
03. Unrealised gains on investments |
8,409 |
5,984 |
|
Of which: valuation difference |
0 |
0 |
|
04. Other technical income |
71 |
82 |
|
05. Claims incurred |
34,004 |
25,676 |
|
a) claims paid and claim settlement expenses |
33,652 |
25,499 |
|
aa) claims paid |
33,409 |
25,305 |
|
1. gross amount |
33,574 |
25,521 |
|
2. reinsurers’ share (-) |
165 |
216 |
|
ab) claim settlement expenses |
260 |
205 |
|
ac) income from claim recoveries and claim settlement expense reimbursement (-) |
17 |
11 |
|
b) change in the provisions for claims outstanding (+/-) (case-by-case, IBNR) |
352 |
177 |
|
ba) case-by-case |
386 |
175 |
|
1. gross amount |
344 |
190 |
|
2. reinsurers’ share (-) |
-42 |
15 |
|
bb) IBNR |
-34 |
2 |
|
1. gross amount |
-48 |
6 |
|
2. reinsurers’ share (-) |
14 |
4 |
|
06. Change in actuarial provisions (+/-) |
1,222 |
3,068 |
|
a) change in the life assurance premium provision (+/-) |
1,222 |
3,068 |
|
aa) gross amount |
1,222 |
3,068 |
|
ab) reinsurers’ share (risk insurance) (-) |
0 |
0 |
|
b) change in the health insurance premium provision (+/-) |
0 |
0 |
|
ba) gross amount |
0 |
0 |
|
bb) reinsurers’ share (-) |
0 |
0 |
|
c) change in the accident insurance annuity provision (+/-) |
0 |
0 |
|
ca) gross amount |
0 |
0 |
|
cb) reinsurers’ share (-) |
0 |
0 |
|
07. Change in the profit-dependent and profit-independent premium reimbursement provision (+/-) |
3 |
4 |
|
a) profit-dependent premium reimbursement provisions (+/-) |
0 |
0 |
|
aa) gross amount |
0 |
0 |
|
ab) reinsurers’ share (-) |
0 |
0 |
|
b) profit-independent premium reimbursement provisions (+/-) |
3 |
4 |
|
ba) gross amount |
3 |
4 |
|
bb) reinsurers’ share (-) |
0 |
0 |
|
08. Change in the equalisation provision (+/-) |
0 |
0 |
|
09. Change in other provisions (+/-) |
75 |
0 |
|
a) large claims provisions |
0 |
0 |
|
b) change in cancellation technical provisions (+/-) |
97 |
18 |
|
ba) gross amount |
105 |
10 |
|
bb) reinsurers’ share (-) |
8 |
-8 |
|
c) change in other technical provisions (+/-) |
-22 |
-18 |
|
ca) gross amount |
-22 |
-18 |
|
cb) reinsurers’ share (-) |
0 |
0 |
|
10. Change in UL technical provisions (+/-) |
-7,085 |
-1,987 |
|
a) gross amount |
-7,085 |
-1,987 |
|
b) reinsurers’ share (-) |
0 |
0 |
|
11. Net operating expenses |
11,025 |
11,518 |
|
a) acquisition costs incurred in the financial year |
6,566 |
7,087 |
|
b) change in deferred acquisition costs (+/-) |
883 |
602 |
|
c) administrative expenses (except investment costs) |
3,581 |
3,831 |
|
d) reinsurance commissions and profit participation (-) |
5 |
2 |
|
12. Technical expenditure arising from investments |
189 |
359 |
|
a) operating and maintenance charges on investments, including interests paid and interest type expenditure |
-137 |
30 |
|
b) value adjustment on investments, value re-adjustments on investments (+/-) |
0 |
0 |
|
c) losses on the realisation of investments, other investment expenditure |
326 |
329 |
|
13. Unrealised losses on investments |
5,125 |
2,367 |
|
Of which: valuation difference |
0 |
0 |
|
14. Other technical charges |
1,063 |
1,727 |
|
B) INSURANCE TECHNICAL PROFIT (01+02+03+04-05-06-07-08-09-10-11-12-13-14) |
4,688 |
4,328 |
|
Description |
Previous year, total |
Current year, total |
|
C) Non-technical accounts |
1,896 |
2,363 |
|
01. Dividends and profit sharing received |
12 |
105 |
|
of which: derived from affiliated undertakings |
12 |
105 |
|
of which: revaluation difference |
0 |
0 |
|
02. Interest received and interest type incomes |
4,697 |
3,847 |
|
of which: derived from affiliated undertakings |
0 |
0 |
|
03. Income from tangible assets related to the insurance portfolio |
300 |
208 |
|
04. Gains on the realisation of investments, other investment income |
14,476 |
744 |
|
05. Allocated investment return transferred from life assurance (same as B/02/d)) |
0 |
0 |
|
06. Profit from investment to be returned to policyholders (-) (same as A/02.) |
0 |
0 |
|
07. Operating and maintenance charges on investments, including interest paid and interest type expenditure |
2,035 |
1,260 |
|
of which: revaluation difference |
0 |
0 |
|
08. Value adjustments and re-adjustments on investments (+/-) |
94 |
105 |
|
09. Losses on the realisation of investments, other investment expenditure |
15,101 |
564 |
|
10. Other income |
23,309 |
15,591 |
|
10/A Consolidation differential resulting from debt consolidation and increasing the profit |
0 |
0 |
|
11. Other expenditure |
23,668 |
16,203 |
|
11/A Consolidation differential resulting from debt consolidation and decreasing the profit |
0 |
0 |
|
D) ORDINARY PROFIT FROM OPERATIONS (+/-A+/-B+01+02+03+04+05-06-07-08-09+10-11) |
14,137 |
14,982 |
|
12. Extraordinary income |
0 |
0 |
|
13. Extraordinary expenditure |
0 |
0 |
|
14. Extraordinary profit (12-13) |
0 |
0 |
|
E) PROFIT BEFORE TAXATION (+/-D+/-14) |
14,137 |
14,982 |
|
15. Tax liability |
614 |
1,099 |
|
15/A Corporate income tax differential resulting from consolidation |
0 |
0 |
|
F) NET PROFIT (+/-E-15) |
13,523 |
13,883 |