Fennia Annual Report 2015

Profit and Loss Account

Profit and Loss Account

 

1,000 €

Group

2015

Group

2014

Parent Company

2015

Parent Company

2014

Note

                     

Technical Account

       

2

 

Non-life insurance

         
   

Premiums earned

         
     

Premiums written

429,429

430,042

429,429

430,042

1

     

Reinsurers’ share

-5,182

-6,173

-5,182

-6,173

 
           

424,247

423,869

424,247

423,869

 
                     
     

Change in the provision for unearned premiums

-7,099

-5,896

-7,099

-5,896

 
                     
   

Premiums earned in total

417,148

417,972

417,148

417,972

 
                     
   

Claims incurred in total

         
     

Claims paid

-282,899

-293,666

-282,899

-293,666

 
     

Reinsurers’ share

951

2,368

951

2,368

 
           

-281,948

-291,298

-281,948

-291,298

 
                     
     

Change in the provision for outstanding claims

-46,274

-34,755

-46,274

-34,755

 
     

Reinsurers’ share

-568

-2,473

-568

-2,473

 
           

-46,843

-37,228

-46,843

-37,228

 
                     
   

Claims incurred in total

-328,791

-328,526

-328,791

-328,526

 
                     
   

Net operating expenses

-95,333

-99,461

-95,333

-99,461

4

   

Balance on technical account before the change in equalisation provision

-6,976

-10,015

-6,976

-10,015

 
   

Change in equalisation provision

-44,150

-43,519

-44,150

-43,519

 
   

Balance on technical account

-51,125

-53,534

-51,125

-53,534

 

Technical Account

         
 

Life insurance

         
   

Premiums written

         
     

Premiums written

199,823

152,544

     
     

Reinsurers’ share

-877

-1,131

     
   

Premiums written in total

198,946

151,413

     
   

Share of net investment income

121,673

63,064

     
   

Other technical underwriting income

 

156

     
   

Claims incurred in total

         
     

Claims paid

-83,172

-77,481

     
     

Reinsurers’ share

   

50

       
     

Change in the provision for outstanding claims

-3,373

-4,796

     
     

Portfolio transfer

5,025

       
   

Claims incurred in total

-81,469

-82,278

     
   

Change in the provision for unearned premiums

-278,895

-113,336

     
     

Portfolio transfer

   

59,222

       
   

Net operating expenses

-13,304

-11,707

     
   

Balance on technical account

6,173

7,311

     
                     

Non-Technical Account

         
 

Balance on technical account, non-life insurance

-51,125

-53,534

     
 

Balance on technical account, life insurance

6,173

7,311

     
                     
 

Investment income

271,653

176,812

149,017

118,647

6

 

Revaluations on investments

39,896

35,838

     
 

Investment charges

-97,399

-64,558

-54,271

-34,996

6

 

Revaluation adjustments on investments

-2,295

-2,231

     
           

211,856

145,862

94,746

83,651

 
                     
 

Transfer of part of net investment income

-121,673

-63,064

     
 

Other income

         
   

Investment income

2,212

1,789

     
   

Other

1,623

1,538

28

46

 
           

3,835

3,327

28

46

 
 

Other charges

         
   

Investment charges

-1,931

-1,771

     
   

Other

-1,161

-323

108

236

 
           

-3,092

-2,095

108

236

 
                     
 

Share of associated undertakings' loss/profit

7

-614

     
 

Tax on profit on ordinary activities

         
   

Tax for the financial year

-9,094

-8,649

-7,884

-6,827

 
   

Tax from previous periods

212

-953

122

-450

 
   

Deferred tax

506

237

     
           

-8,376

-9,364

-7,762

-7,277

 
 

Profit on ordinary activities

37,605

27,830

35,995

23,122

 
 

Minority interests

-413

-429

     
 

Appropriations

         
   

Change in depreciation difference

   

227

378

 
 

Profit for the financial year

37,192

27,401

36,222

23,500