Fennia Annual Report 2016

Financial Statements

Profit and Loss Account 

 

1,000 €

Group

2016

Group

2015

Parent Company

2016

Parent Company

2015

Note

                     

Technical Account

       

2

 

Non-life insurance

         
   

Premiums earned

         
     

Premiums written

417,353

429,429

417,353

429,429

1

     

Reinsurers’ share

-4,975

-5,182

-4,975

-5,182

 
           

412,378

424,247

412,378

424,247

 
                     
     

Change in the provision for unearned premiums

-228

-7,099

-228

-7,099

 
                     
   

Premiums earned in total

412,150

417,148

412,150

417,148

 
                     
   

Claims incurred in total

         
     

Claims paid

-287,023

-282,899

-287,023

-282,899

 
     

Reinsurers’ share

1,391

951

1,391

951

 
           

-285,631

-281,948

-285,631

-281,948

 
                     
     

Change in the provision for outstanding claims

-43,179

-46,274

-43,179

-46,274

 
     

Reinsurers’ share

2,998

-568

2,998

-568

 
           

-40,181

-46,843

-40,181

-46,843

 
                     
   

Claims incurred in total

-325,812

-328,791

-325,812

-328,791

 
                     
   

Net operating expenses

-103,395

-95,333

-103,395

-95,333

4

   

Balance on technical account before the change in equalisation provision

-17,058

-6,976

-17,058

-6,976

 
   

Change in equalisation provision

-12,993

-44,150

-12,993

-44,150

 
   

Balance on technical account

-30,051

-51,125

-30,051

-51,125

 

Technical Account

         
 

Life insurance

         
   

Premiums written

         
     

Premiums written

207,062

199,823

     
     

Reinsurers’ share

-1,181

-877

     
   

Premiums written in total

205,881

198,946

     
   

Share of net investment income

88,699

121,673

     
   

Other technical underwriting income

         
   

Claims incurred in total

         
     

Claims paid

-90,640

-83,172

     
     

Reinsurers’ share

   

350

50

     
     

Change in the provision for outstanding claims

-11,502

-3,373

     
     

Portfolio transfer

 

5,025

     
   

Claims incurred in total

-101,792

-81,469

     
   

Change in the provision for unearned premiums

-170,619

-278,895

     
     

Portfolio transfer

   

 

59,222

     
   

Net operating expenses

-13,804

-13,304

     
   

Balance on technical account

8,365

6,173

     
                     

Non-Technical Account

         
 

Balance on technical account, non-life insurance

-30,051

-51,125

     
 

Balance on technical account, life insurance

8,365

6,173

     
                     
 

Investment income

162,029

271,653

78,244

149,017

6

 

Revaluations on investments

56,280

39,896

     
 

Investment charges

-109,271

-97,399

-61,475

-54,271

6

 

Revaluation adjustments on investments

-2,900

-2,295

     
           

106,138

211,856

16,769

94,746

 
                     
 

Transfer of part of net investment income

-88,699

-121,673

     
 

Other income

         
   

Income from investment services operations

2,910

2,212

     
   

Other

1,641

1,623

21

28

 
           

4,551

3,835

21

28

 
 

Other charges

         
   

Investment charges

-2,090

-1,931

     
   

Other

-1,038

-1,161

340

108

 
           

-3,128

-3,092

340

108

 

                     
 

Profit/loss on ordinary activities

-2,825

45,974

-12,920

43,757

 
                     
 

Share of associated undertakings' loss/profit

-480

7

     
                     
 

Profit/loss before appropriations and tax

-3,305

45,981

-12,920

43,757

 
                     
 

Appropriations

         
   

Change in depreciation difference

   

49

227

 
                     
 

Tax on profit

         
   

Tax for the financial year

-2,223

-9,094

-191

-7,884

 
   

Tax from previous periods

531

212

568

122

 
   

Deferred tax

1,277

506

     
           

-416

-8,376

378

-7,762

 
                     
 

Minority interests

-325

-413

     
 

Profit/loss for the financial year

-4,046

37,192

-12,494

36,222