Fennia Annual Report 2014

Profit and Loss Account

Profit and Loss Account

 

EUR 1,000

Group

2014

Group

2013

Parent Company

2014

Parent Company

2013

Attachment

                     

Technical Account

       

2

 

Non-life insurance

         
   

Premiums earned

         
     

Premiums written

430,042

403,054

430,042

403,054

1

     

Reinsurers’ share

-6,173

-6,209

-6,173

-6,209

 
           

423,869

396,845

423,869

396,845

 
                     
     

Change in the provision for unearned premiums

-5,896

-7,168

-5,896

-7,168

 
                     
   

Premiums earned in total

417,972

389,677

417,972

389,677

 
                     
   

Claims incurred in total

         
     

Claims paid

-293,666

-293,465

-293,666

-293,465

 
     

Reinsurers’ share

2,368

2,738

2,368

2,738

 
           

-291,298

-290,727

-291,298

-290,727

 
                     
     

Change in the provision for outstanding claims

-34,755

-37,740

-34,755

-37,740

 
     

Reinsurers’ share

-2,473

2,439

-2,473

2,439

 
           

-37,228

-35,301

-37,228

-35,301

 
                     
   

Claims incurred in total

-328,526

-326,028

-328,526

-326,028

 
                     
   

Net operating expenses

-99,461

-94,633

-99,461

-94,633

4

   

Balance on technical account before the change in equalisation provision

-10,015

-30,984

-10,015

-30,984

 
   

Change in equalisation provision

-43,519

-17,059

-43,519

-17,059

 
   

Balance on technical account

-53,534

-48,043

-53,534

-48,043

 

Technical Account

         
 

Life insurance

         
   

Premiums written

         
     

Premiums written

152,544

94,462

     
     

Reinsurers’ share

-1,131

-937

     
   

Premiums written in total

151,413

93,526

     
   

Share of net investment income

63,064

88,112

     
   

Other technical underwriting income

156

       
   

Claims incurred in total

         
     

Claims paid

-77,481

-84,213

     
     

Change in the provision for outstanding claims

-4,796

-5,102

     
   

Claims incurred in total

-82,278

-89,315

     
   

Change in the provision for unearned premiums

-113,336

-73,844

     
   

Net operating expenses

-11,707

-10,359

     
   

Balance on technical account

7,311

8,120

     
                     

Non-Technical Account

         
 

Balance on technical account, non-life insurance

-53,534

-48,043

     
 

Balance on technical account, life insurance

7,311

8,120

     
                     
 

Investment income

176,812

170,649

118,647

94,193

6

 

Revaluations on investments

35,838

41,820

     
 

Investment charges

-64,558

-72,005

-34,996

-39,742

6

 

Revaluation adjustments on investments

-2,231

-769

     
           

145,862

139,695

83,651

54,451

 
                     
 

Transfer of part of net investment income

-63,064

-88,112

     
 

Other income

         
   

Other

3,327

4,771

46

201

 
 

Other charges

         
   

Other

-2,095

-4,285

236

341

 
 

Share of associated undertakings' loss/profit

-614

-88

     
 

Tax on profit on ordinary activities

         
   

Tax for the financial year

-8,649

-3,088

-6,827

-886

 
   

Tax from previous periods

-953

1,378

-450

829

 
   

Deferred tax

237

611

     
           

-9,364

-1,100

-7,277

-57

 
 

Profit on ordinary activities

27,830

10,958

23,122

6,894

 
 

Minority interests

-429

-465

     
 

Appropriations

         
   

Change in depreciation difference

   

378

-172

 
 

Profit for the financial year

27,401

10,492

23,500

6,722