Annual report 2018
CONSOLIDATED BALANCE SHEET 31 December 2018
|
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 |
5,586 |
1,236 |
3,478 |
1,922 |
6,636 |
|
B. Investments |
190,802 |
78,733 |
42,316 |
34,200 |
155,249 |
|
I. Real estate |
1,912 |
0 |
1,877 |
1 |
1,878 |
|
of which: self-occupied real estate |
1,912 |
0 |
1,877 |
1 |
1,878 |
|
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 |
188,890 |
78,733 |
40,439 |
34,199 |
153,371 |
|
1. Equity investments in undertakings with which the insurance undertaking is linked by virtue of a significant participating interest |
14,509 |
6,182 |
13,001 |
536 |
19,719 |
|
2. Debt securities (except II/2. and II/4.) |
119,212 |
72,109 |
27,438 |
33,663 |
133,210 |
|
3. Participation in investment pools |
0 |
0 |
0 |
0 |
0 |
|
4. Loans guaranteed by mortgages (except II/2. and II/4. and III/5.) |
54,105 |
0 |
0 |
0 |
0 |
|
5. Other loans (except II/2. and II/4. and III/4.) |
1,064 |
442 |
0 |
0 |
442 |
|
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 |
74,042 |
66,695 |
0 |
0 |
66,695 |
|
D. Debtors |
12,275 |
1,136 |
3,168 |
862 |
5,166 |
|
I. Debtors arising out of direct insurance operations |
2,088 |
626 |
2,196 |
-70 |
2,752 |
|
1. Policyholders |
1,805 |
571 |
1,868 |
-1 |
2,438 |
|
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 |
98 |
55 |
161 |
-69 |
147 |
|
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 |
185 |
0 |
167 |
0 |
167 |
|
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 |
72 |
12 |
53 |
0 |
65 |
|
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 |
10,115 |
498 |
919 |
932 |
2,349 |
|
of which: a) affiliated undertakings |
7036 |
0 |
52 |
5 |
57 |
|
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 |
10,289 |
1320 |
5,407 |
5,194 |
11,921 |
|
1. Tangible assets (other than land and buildings), inventories |
2,662 |
190 |
1,199 |
1,413 |
2,802 |
|
2. Cash at bank and in hand |
7,627 |
1130 |
4,208 |
3,781 |
9,119 |
|
3. Repurchased own shares |
0 |
0 |
0 |
0 |
0 |
|
4. Other |
0 |
0 |
0 |
0 |
0 |
|
F. Prepayments and accrued income |
8,277 |
4,925 |
2,166 |
470 |
7,561 |
|
1. Accrued interest and rent |
1,214 |
856 |
164 |
112 |
1,132 |
|
2. Deferred acquisition costs |
3,823 |
3,449 |
0 |
0 |
3,449 |
|
3. Other prepayments and accrued income |
3,240 |
620 |
2002 |
358 |
2,980 |
|
Total assets |
301,271 |
154,045 |
56,535 |
42,648 |
253,228 |
|
Budapest, 26 April 2019 |
……………………………………… |
|
|
|
|
……………………………………… |
……………………………………… |
CONSOLIDATED BALANCE SHEET, 31 December 2018
|
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 |
37,212 |
11,294 |
14,142 |
10,237 |
35,673 |
|
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 |
3,118 |
2,353 |
0 |
5,471 |
|
IV. Retained earnings (+/-) |
38,216 |
261 |
71 |
38,088 |
38,420 |
|
V. Restricted reserve |
1030 |
205 |
579 |
0 |
784 |
|
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 (+/-) |
13,883 |
4,077 |
8,398 |
-2,014 |
10,461 |
|
VIII. Changes in the equity of subsidiaries (+/- |
-27,762 |
0 |
0 |
-25,837 |
-25,837 |
|
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 |
94,468 |
66,796 |
36,252 |
0 |
103,048 |
|
1. Provision for unearned premiums [a) + b)] |
6,926 |
150 |
9,526 |
0 |
9,676 |
|
a) gross amount |
7,133 |
242 |
9,560 |
0 |
9,802 |
|
b) reinsurance amount (-) |
207 |
92 |
34 |
0 |
126 |
|
2. Actuarial provisions |
64,492 |
62,142 |
7,092 |
0 |
69,234 |
|
a) life assurance premium provision [aa)+ab)] |
57,112 |
62,142 |
0 |
0 |
62,142 |
|
aa) gross amount |
57,112 |
62,142 |
0 |
0 |
62,142 |
|
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 |
10 |
0 |
9 |
0 |
9 |
|
ca). gross amount |
10 |
0 |
9 |
0 |
9 |
|
cb). reinsurance amount (-) |
0 |
0 |
0 |
0 |
0 |
|
d) liability insurance annuity provision (1+2) |
7,370 |
0 |
7,083 |
0 |
7,083 |
|
da). gross amount |
7,562 |
0 |
7,368 |
0 |
7,368 |
|
db) reinsurance amount (-) |
192 |
0 |
285 |
0 |
285 |
|
3. Claims outstanding [a)+b)] |
22,400 |
3,979 |
19,266 |
0 |
23,245 |
|
a) case-by-case provisions [aa)+ab)] |
16,318 |
3,523 |
13,184 |
0 |
16,707 |
|
aa) gross amount |
17,027 |
3,531 |
13,758 |
0 |
17,289 |
|
ab) reinsurance amount (-) |
709 |
8 |
574 |
0 |
582 |
|
b) IBNR |
6,082 |
456 |
6,082 |
0 |
6,538 |
|
ba) gross amount |
6,125 |
466 |
6,091 |
0 |
6,557 |
|
bb) reinsurance amount (-) |
43 |
10 |
9 |
0 |
19 |
|
4. Profit-dependent and profit-independent premium reimbursement provisions [a)+b)] |
53 |
16 |
43 |
0 |
59 |
|
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 |
18 |
16 |
8 |
0 |
24 |
|
ba) gross amount |
18 |
16 |
8 |
0 |
24 |
|
bb) reinsurance amount (-) |
0 |
0 |
0 |
0 |
0 |
|
5. Equalisation provision |
115 |
0 |
115 |
0 |
115 |
|
6. Other provisions [a)+b)+c)] |
482 |
509 |
210 |
0 |
719 |
|
a) Large claim provisions |
21 |
0 |
21 |
0 |
21 |
|
b) Cancellation provisions [ba)+bb)] |
309 |
374 |
189 |
0 |
563 |
|
ba) gross amount |
328 |
399 |
210 |
0 |
609 |
|
bb) reinsurance amount (-) |
19 |
25 |
21 |
0 |
46 |
|
c) other technical provision [ca)+cb)] |
152 |
135 |
0 |
0 |
135 |
|
ca) gross amount |
152 |
135 |
0 |
0 |
135 |
|
cb) reinsurance amount (-) |
0 |
0 |
0 |
0 |
0 |
|
D. Technical provisions for unit-linked life assurance policyholders (1+2) |
74,042 |
66,695 |
0 |
0 |
66,695 |
|
a) gross amount |
74,042 |
66,695 |
0 |
0 |
66,695 |
|
b) reinsurance amount (-) |
0 |
0 |
0 |
0 |
0 |
|
E. Specific provisions |
1,112 |
546 |
513 |
151 |
1,210 |
|
1. Provisions for contingent liabilities |
1,011 |
445 |
513 |
151 |
1,109 |
|
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 |
86,545 |
3,871 |
3,807 |
31,492 |
39,170 |
|
I. Creditors arising out of direct insurance operations |
3,093 |
476 |
3,101 |
-3 |
3,574 |
|
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 |
543 |
51 |
311 |
0 |
362 |
|
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 |
62,000 |
0 |
0 |
0 |
0 |
|
of which: a) affiliated undertakings |
62,000 |
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 |
|
V. Other creditors |
20,909 |
3,344 |
395 |
31,495 |
35,234 |
|
of which: a) affiliated undertakings |
0 |
711 |
0 |
0 |
711 |
|
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 |
7,824 |
4,843 |
1,821 |
700 |
7,364 |
|
1. Accrued income |
1 |
1 |
0 |
0 |
1 |
|
2. Accrued costs and expenditure |
7,779 |
4,812 |
1,821 |
700 |
7,333 |
|
3. Deferred income |
44 |
30 |
0 |
0 |
30 |
|
Total liabilities and equity |
301,271 |
154,045 |
56,535 |
42,648 |
253,228 |
|
Budapest, 26 April 2019 |
……………………………………… |
|
|
|
|
……………………………………… |
……………………………………… |
CONSOLIDATED PROFIT AND LOSS ACCOUNT 31 December 2018
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 |
64,320 |
69,281 |
|
a) gross premiums written |
67,489 |
74,226 |
|
b) outward reinsurance premiums (-) |
2,228 |
2,270 |
|
c) change in the gross provision for unearned premiums (+/-) |
1,089 |
2,532 |
|
d) change in the provision for unearned premiums, reinsurers’ share (+/-) |
-148 |
143 |
|
02. Profit from investments to be returned to policyholders (same as C/06.) |
0 |
0 |
|
03. Other technical income |
254 |
611 |
|
04. Claims incurred |
29,896 |
30,334 |
|
a) claims paid and claim settlement expenses |
27,091 |
29,358 |
|
aa) claim payments |
24,527 |
26,614 |
|
1. gross amount |
25,212 |
26,829 |
|
2. reinsurers’ share (-) |
685 |
215 |
|
ab) claim settlement expenses |
2,907 |
3,073 |
|
ac) income from claim recovery and claim settlement expense reimbursement (-) |
343 |
329 |
|
b) changes in the provision for claims outstanding (+/-) |
2,805 |
976 |
|
ba) case-by-case |
2,875 |
504 |
|
1. gross amount |
2,586 |
398 |
|
2. reinsurers’ share (-) |
-289 |
-106 |
|
bb) IBNR |
-70 |
472 |
|
1. gross amount |
-207 |
453 |
|
2. reinsurers’ share (-) |
-137 |
-19 |
|
05. Changes in actuarial provisions (+/-) |
12 |
-288 |
|
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 (+/-) |
13 |
-287 |
|
ca) gross amount |
-204 |
-194 |
|
cb) reinsurers’ share (-) |
-217 |
93 |
|
06. Changes in the profit-dependent and profit-independent premium reimbursement provisions (+/-) |
-1 |
0 |
|
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 |
0 |
|
ba) gross amount |
-1 |
0 |
|
bb) reinsurers’ share (-) |
0 |
0 |
|
07. Changes in the equalisation provision (+/-) |
0 |
0 |
|
08. Changes in other provisions (+/-) |
28 |
36 |
|
a) large claim provisions |
0 |
0 |
|
b) cancellation provisions |
28 |
36 |
|
ba) gross amount |
27 |
38 |
|
bb) reinsurers’ share (-) |
-1 |
2 |
|
c) Changes in other technical provisions (+/-) |
0 |
0 |
|
ca) gross amount |
0 |
0 |
|
cb) reinsurers’ share (-) |
0 |
0 |
|
09. Net operating expenses |
21,208 |
23,812 |
|
a) acquisition costs incurred in the financial year |
14,482 |
15,512 |
|
b) change in deferred acquisition costs (+/-) |
0 |
0 |
|
c) administrative expenses (except investment costs) |
6,731 |
8,296 |
|
d) reinsurance commissions and profit participation (-) |
5 |
-4 |
|
10. Other technical charges |
5,140 |
5,773 |
|
A) INSURANCE TECHNICAL PROFIT (01+02+03-04-05-06-07-08-09-10) |
8,291 |
10,225 |
|
Description |
Previous year, total |
Current year, total |
|
B) Life assurance business |
a |
b |
|
01. Earned premiums, net of reinsurance |
38,032 |
40,790 |
|
a) gross premiums written |
38,261 |
41,044 |
|
b) outward reinsurance premiums (-) |
218 |
180 |
|
c) change in the provision for unearned premiums (+/-) |
3 |
137 |
|
d) change in the provision for unearned premiums, reinsurers’ share (+/-) |
8 |
-63 |
|
02. Technical income from investments |
2,962 |
3,048 |
|
a) income from participating interests |
0 |
0 |
|
of which: derived from affiliated undertakings |
0 |
0 |
|
b) income from other investments |
2,911 |
2,922 |
|
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 |
2,911 |
2,922 |
|
c) gains on the realisation of investments, other investment income |
51 |
126 |
|
d) allocated investment return transferred from life assurance (same as C/05.) (-) |
0 |
0 |
|
03. Unrealised gains on investments |
5,984 |
5,050 |
|
Of which: valuation difference |
0 |
0 |
|
04. Other technical income |
82 |
191 |
|
05. Claims incurred |
25,676 |
26,585 |
|
a) claims paid and claim settlement expenses |
25,499 |
26,716 |
|
aa) claims paid |
25,305 |
26,533 |
|
1. gross amount |
25,521 |
26,563 |
|
2. reinsurers’ share (-) |
216 |
30 |
|
ab) claim settlement expenses |
205 |
218 |
|
ac) income from claim recoveries and claim settlement expense reimbursement (-) |
11 |
35 |
|
b) change in the provisions for claims outstanding (+/-) (case-by-case, IBNR) |
177 |
-131 |
|
ba) case-by-case |
175 |
-115 |
|
1. gross amount |
190 |
-136 |
|
2. reinsurers’ share (-) |
15 |
-21 |
|
bb) IBNR |
2 |
-16 |
|
1. gross amount |
6 |
-21 |
|
2. reinsurers’ share (-) |
4 |
-5 |
|
06. Change in actuarial provisions (+/-) |
3,068 |
5,029 |
|
a) change in the life assurance premium provision (+/-) |
3,068 |
5,029 |
|
aa) gross amount |
3,068 |
5,029 |
|
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 (+/-) |
4 |
6 |
|
a) profit-dependent premium reimbursement provisions (+/-) |
0 |
0 |
|
aa) gross amount |
0 |
0 |
|
ab) reinsurers’ share (-) |
0 |
0 |
|
b) profit-independent premium reimbursement provisions (+/-) |
4 |
6 |
|
ba) gross amount |
4 |
6 |
|
bb) reinsurers’ share (-) |
0 |
0 |
|
08. Change in the equalisation provision (+/-) |
0 |
0 |
|
09. Change in other provisions (+/-) |
0 |
201 |
|
a) large claims provisions |
0 |
0 |
|
b) change in cancellation technical provisions (+/-) |
18 |
218 |
|
ba) gross amount |
10 |
243 |
|
bb) reinsurers’ share (-) |
-8 |
25 |
|
c) change in other technical provisions (+/-) |
-18 |
-17 |
|
ca) gross amount |
-18 |
-17 |
|
cb) reinsurers’ share (-) |
0 |
0 |
|
10. Change in UL technical provisions (+/-) |
-1,987 |
-7,347 |
|
a) gross amount |
-1,987 |
-7,347 |
|
b) reinsurers’ share (-) |
0 |
0 |
|
11. Net operating expenses |
11,518 |
11,516 |
|
a) acquisition costs incurred in the financial year |
7,087 |
6,758 |
|
b) change in deferred acquisition costs (+/-) |
602 |
373 |
|
c) administrative expenses (except investment costs) |
3,831 |
4,387 |
|
d) reinsurance commissions and profit participation (-) |
2 |
2 |
|
12. Technical expenditure arising from investments |
359 |
340 |
|
a) operating and maintenance charges on investments, including interests paid and interest type expenditure |
30 |
73 |
|
b) value adjustment on investments, value re-adjustments on investments (+/-) |
0 |
0 |
|
c) losses on the realisation of investments, other investment expenditure |
329 |
267 |
|
13. Unrealised losses on investments |
2,367 |
7,581 |
|
Of which: valuation difference |
0 |
0 |
|
14. Other technical charges |
1,727 |
1,188 |
|
B) INSURANCE TECHNICAL PROFIT (01+02+03+04-05-06-07-08-09-10-11-12-13-14) |
4,328 |
3,980 |
|
Description |
Previous year, total |
Current year, total |
|
C) Non-technical accounts |
2,363 |
-2,711 |
|
01.a. Dividends and profit sharing received from affiliated undertakings |
105 |
0 |
|
01.b. Dividends and profit sharing received from other undertakings |
0 |
0 |
|
02. Interest received and interest type incomes |
3,847 |
3,203 |
|
of which: derived from affiliated undertakings |
0 |
0 |
|
03. Income from tangible assets related to the insurance portfolio |
208 |
226 |
|
04. Gains on the realisation of investments, other investment income |
744 |
1,291 |
|
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 |
1,260 |
2,763 |
|
of which: revaluation difference |
0 |
0 |
|
08. Value adjustments and re-adjustments on investments (+/-) |
105 |
519 |
|
09. Losses on the realisation of investments, other investment expenditure |
564 |
1,048 |
|
10. Other income |
15,591 |
38,273 |
|
10/A Consolidation differential resulting from debt consolidation and increasing the profit |
0 |
0 |
|
11. Other expenditure |
16,203 |
41,374 |
|
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) |
14,982 |
11,494 |
|
12. Extraordinary income |
0 |
0 |
|
13. Extraordinary expenditure |
0 |
0 |
|
14. Extraordinary profit (12-13) |
0 |
0 |
|
E) PROFIT BEFORE TAXATION (+/-D+/-14) |
14,982 |
11,494 |
|
15. Tax liability |
1,099 |
1,033 |
|
15/A Corporate income tax differential resulting from consolidation |
0 |
0 |
|
F) NET PROFIT (+/-E-15) |
13,883 |
10,461 |