Financial Statements

Profit and Loss Account


1,000 €

Group

2017

Group

2016

Parent Company

2017

Parent Company

2016

Note

           

Technical Account

    

2

 

Non-life insurance

     
  

Premiums earned

     
   

Premiums written

393,675

417,353

393,675

417,353

1

   

Reinsurers’ share

-5,898

-4,975

-5,898

-4,975

 
      

387,776

412,378

387,776

412,378

 
           
   

Change in the provision for unearned premiums

8,634

-228

8,634

-228

 
           
  

Premiums earned in total

396,411

412,150

396,411

412,150

 
           
  

Claims incurred in total

     
   

Claims paid

-295,199

-287,023

-295,199

-287,023

 
   

Reinsurers’ share

795

1,391

795

1,391

 
      

-294,404

-285,631

-294,404

-285,631

 
           
   

Change in the provision for outstanding claims

-19,763

-43,179

-19,763

-43,179

 
   

Reinsurers’ share

19,475

2,998

19,475

2,998

 
      

-289

-40,181

-289

-40,181

 
           
  

Claims incurred in total

-294,693

-325,812

-294,693

-325,812

 
           
  

Net operating expenses

-100,229

-103,395

-100,418

-103,395

4

  

Balance on technical account before the change in equalisation provision

1,489

-17,058

1,300

-17,058

 
  

Change in equalisation provision

-30,467

-12,993

-30,467

-12,993

 
  

Balance on technical account

-28,978

-30,051

-29,167

-30,051

 

Technical Account

     
 

Life insurance

     
  

Premiums written

     
   

Premiums written

166,687

207,062

   
   

Reinsurers’ share

-960

-1,181

   
  

Premiums written in total

165,728

205,881

   
  

Share of net investment income

68,576

88,699

   
  

Other technical underwriting income

     
  

Claims incurred in total

     
   

Claims paid

-104,438

-90,640

   
   

Reinsurers’ share

  

219

350

   
   

Change in the provision for outstanding claims

-3,252

-11,502

   
   

Portfolio transfer

 

 

   
  

Claims incurred in total

-107,471

-101,792

   
  

Change in the provision for unearned premiums

-96,099

-170,619

   
   

Portfolio transfer

  

 

 

   
  

Net operating expenses

-14,798

-13,804

   
  

Balance on technical account

15,936

8,365

   
           

Non-Technical Account

     
 

Balance on technical account, non-life insurance

-28,978

-30,051

   
 

Balance on technical account, life insurance

15,936

8,365

   
           
 

Investment income

167,200

162,029

109,639

78,244

6

 

Revaluations on investments

49,813

56,280

   
 

Investment charges

-80,801

-109,271

-50,272

-61,475

6

 

Revaluation adjustments on investments

-8,278

-2,900

   
      

127,933

106,138

59,367

16,769

 
           
 

Transfer of part of net investment income

-68,576

-88,699

   
 

Other income

     
  

Income from investment services operations

3,732

2,910

   
  

Other

1,428

1,641

25

21

 
      

5,161

4,551

25

21

 
 

Other charges

     
  

Investment charges

-4,231

-2,090

   
  

Other

-469

-1,038

515

340

 
      

-4,700

-3,128

515

340

 

           
 

Profit/loss on ordinary activities

46,776

-2,825

30,740

-12,920

 
           
 

Share of associated undertakings' loss/profit

51

-480

   
           
 

Profit/loss before appropriations and tax

46,827

-3,305

30,740

-12,920

 
           
 

Appropriations

     
  

Change in depreciation difference

  

-283

49

 
           
 

Tax on profit

     
  

Tax for the financial year

-6,875

-2,223

-3,693

-191

 
  

Tax from previous periods

310

531

-388

568

 
  

Deferred tax

206

1,277

   
      

-6,359

-416

-4,081

378

 
           
 

Minority interests

-449

-325

   
           
 

Profit/loss for the financial year

40,020

-4,046

26,376

-12,494