Financial Statements

Profit and Loss Account


1,000 €

Group

2018

Group

2017

Parent Company

2018

Parent Company

2017

Note

           

Technical Account

    

2

 

Non-life insurance

     
  

Premiums earned

     
   

Premiums written

386,880

393,675

382,795

393,675

1

   

Reinsurers’ share

-4,412

-5,898

-4,209

-5,898

 
      

382,469

387,776

378,586

387,776

 
           
   

Change in the provision for unearned premiums

1,603

8,634

-578

8,634

 
           
  

Premiums earned in total

384,071

396,411

378,007

396,411

 
           
  

Claims incurred in total

     
   

Claims paid

-317,678

-295,199

-312,492

-295,199

 
   

Reinsurers’ share

14,011

795

13,992

795

 
      

-303,667

-294,404

-298,500

-294,404

 
           
   

Change in the provision for outstanding claims

32,385

-19,763

35,483

-19,763

 
   

Reinsurers’ share

-22,538

19,475

-23,176

19,475

 
      

9,847

-289

12,307

-289

 
           
  

Claims incurred in total

-293,820

-294,693

-286,193

-294,693

 
           
  

Net operating expenses

-101,963

-100,229

-100,363

-100,418

4

  

Balance on technical account before the change in equalisation provision

-11,712

1,489

-8,549

1,300

 
  

Change in equalisation provision

-15,727

-30,467

-24,474

-30,467

 
  

Balance on technical account

-27,439

-28,978

-33,023

-29,167

 

Technical Account

     
 

Life insurance

     
  

Premiums written

     
   

Premiums written

164,142

166,687

   
   

Reinsurers’ share

-1,063

-960

   
  

Premiums written in total

163,079

165,728

   
  

Share of net investment income

-39,615

68,576

   
  

Other technical underwriting income

     
  

Claims incurred in total

     
   

Claims paid

-95,505

-104,438

   
   

Reinsurers’ share

  

-32

219

   
   

Change in the provision for outstanding claims

-2,340

-3,252

   
   

Portfolio transfer

 

 

   
  

Claims incurred in total

-97,877

-107,471

   
  

Change in the provision for unearned premiums

13,378

-96,099

   
   

Portfolio transfer

  

 

 

   
  

Net operating expenses

-14,658

-14,798

   
  

Balance on technical account

24,306

15,936

   
           

Non-Technical Account

     
 

Balance on technical account, non-life insurance

-27,439

-28,978

   
 

Balance on technical account, life insurance

24,306

15,936

   
           
 

Investment income

141,948

167,200

80,481

109,639

6

 

Revaluations on investments

13,095

49,813

   
 

Investment charges

-160,909

-80,801

-80,027

-50,272

6

 

Revaluation adjustments on investments

-46,665

-8,278

   
      

-52,532

127,933

454

59,367

 
           
 

Transfer of part of net investment income

39,615

-68,576

   
 

Other income

     
  

Income from investment services operations

5,181

3,732

   
  

Other

4,486

1,428

44

25

 
      

9,667

5,161

44

25

 
 

Other charges

     
  

Investment charges

-6,320

-4,231

   
  

Other

-4,315

-469

223

515

 
      

-10,635

-4,700

223

515

 

           
 

Profit/loss on ordinary activities

-17,017

46,776

-32,301

30,740

 
           
 

Share of associated undertakings' loss/profit

 

51

   
           
 

Profit/loss before appropriations and tax

-17,017

46,827

-32,301

30,740

 
           
 

Appropriations

     
  

Change in depreciation difference

  

-237

-283

 
           
 

Tax on profit

     
  

Tax for the financial year

-2,590

-6,875

-202

-3,693

 
  

Tax from previous periods

884

310

313

-388

 
  

Deferred tax

134

206

   
      

-1,571

-6,359

111

-4,081

 
           
 

Minority interests

-915

-449

   
           
 

Profit/loss for the financial year

-19,503

40,020

-32,427

26,376