INCOME STATEMENT

in EUR

 

2016

 

2015

 

I. NET PREMIUM INCOME 288,110,763 287,335,263
- Gross written premiums298,820,030 298,820,030 296,648,952
- Premiums ceded to reinsurers and coinsurers (11,069,029) (10,442,444)
- Change in unearned premiums 359,762 1,128,755
II. INCOME FROM INVESTMENTS 43,777,104 22,841,819
III. OTHER INCOME FROM INSURANCE OPERATIONS, of which 1,741,010 4,164,825
- fee and commission income 1,741,010 4,164,825
IV. OTHER INCOME 6,857,324 7,118,090
V. NET EXPENSES FOR CLAIMS AND BENEFITS PAID (212,410,024) (206,648,963)
- Gross amounts of claims and benefits paid (218,701,287) (213,400,456)
- Reinsuresrs'/coinsurers' shares 4,877,763 9,693,470
- Change in claims provisions 1,413,499 (2,941,977)
VI. CHANGE IN OTHER TECHNICAL PROVISIONS (4,210,408) (4,519,135)
VII. CHANGE IN TECHNICAL PROVISONS FOR THE BENEFIT OF UNIT-LINKED INSURANCE POLICYHOLDERS (22,921,728) (1,826,453)
VIII. CHANGES IN LIABILITIES ARISING FROM INVESTMENT CONTRACTS - -
IX. EXPENSES FOR BONUSES AND DISCOUNTS 100,722 (286,786)
X. OPERATING EXPENSES, of which (73,145,012) (72,195,291)
- acquisition costs (26,735,474) (27,099,309)
XI. EXPENSES FROM INVESTMENTS IN ASSOCIATES, of which (83,819) (389,169)
- impairment losses of financial assets not measured at fair value through profit or loss (83,819) (389,169)
XII. EXPENSES INVESTMENTS, of which (2,500,272) (6,622,244)
- impairment losses of financial assets not measured at fair value through profit or loss (1,373,515) (380,153)
XIII. OTHER INSURANCE EXPENSES (3,922,235) (4,642,130)
XIV. OTHER EXPENSES (10,439,693) (7,549,436)
XV. PROFIT/(LOSS) BEFORE TAX 10,953,732
16,815,342
XVI. CORPORATE INCOME TAX 942,917 (2,551,113)
XVII. NET PROFIT FOR THE REPORTING PERIOD 11,896,650 14,264,229
     
Basic net earnings/loss per share 1.15 1.38
Diluted net earnings/loss per share 1.15 1.38