ASA KINDLUSTUS AS

BALANCE SHEET

30.06.99

 

 

in EEK

 

ASSETS                                                         30.06.99            31.12.98

Cash and bank                                                 1,231,683           1,619,543

Receivables

Receivables from direct insurance business                   14,585,703           8,862,303

incl.Policyholders                                            1,128,435           2,302,524

intermediaries                                               12,735,679           5,888,431

Others                                                          721,589             671,348

Receivables from reinsurance business                         6,038,471           4,082,620

Other receivables                                             7,959,928           7,760,225

Shareholder receivables

Total receivables                                            28,584,102          20,705,148

Accrued income and prepaid expenses

Accrued income                                                2,610,474           2,216,944

Deferred acquisition expenses                                 6,662,113           6,115,967

Other prepaid expenses                                        5,826,971           6,396,653

Total                                                        15,099,558          14,729,564

Investments

Land and buildings

Subsidiaries

incl. shares and units

Debt securities and loans

Associated companies

incl.shares and units

Debt securities and loans

Other financial investments                                  58,258,414          61,695,903

incl.Shares and other securities                              9,980,552           9,987,128

Bonds and other fixed income securities                       5,530,000          10,050,000

Participation in joint investments

Mortgage loans                                               23,668,479          21,856,997

Other loans                                                   6,757,494           6,782,002

Deposits with credit institutions                            11,368,350          12,856,236

incl.

Other                                                           953,539             163,540

Deposits with life assurance companies

Total                                                        58,258,414          61,695,903

Investments in life assurance contracts

bearing investment risk

Intangible assets

Tangible assets                                               7,298,237          10,323,697

TOTAL ASSETS                                                110,471,994         109,073,855

 

 

Liabilities and owners' equity                                 30.06.99            31.12.98

Liabilities

Creditors of direct insurance business                       15,720,565          10,067,705

incl.Policyholders                                            2,518,158           4,570,185

intermediaries                                                7,644,741           1,733,835

Other                                                         5,557,666           3,763,685

Creditors of reinsurance business                             5,993,541           6,381,392

Debt securities issued

Loans to credit institutions                                                      1,500,000

Other liabilities                                               291,407           1,450,769

Total liabilities                                            22,005,514          19,399,866

Deposits from reinsurers

Provisions

Accrued expenses and prepaid revenue

Accrued expenses                                              6,627,531           7,750,019

Deferred reinsurance commissions                                867,231             629,593

Other prepaid revenues

Total                                                         7,494,762           8,379,612

Technical provisions

Provision for unearned premiums                              24,500,164          23,504,214

incl.Gross amount                                            27,353,202          26,373,925

Reinsurance amount                                            2,853,038           2,869,711

Provision for life assurance

incl.Gross amount

Reinsurance amount

Claims outstanding                                           25,720,149          25,218,897

incl.Gross amount                                            46,672,631          30,771,566

Reinsurance amount                                           20,952,482           5,552,669

Provision for bonuses

incl.Gross amount

Reinsurance amount

Balancing provisions

Other technical provisions

incl.Gross amount

Reinsurance amount

Total                                                        50,220,313          48,723,111

technical provisions on life assurance contracts

bearing investment risk

incl.Gross amount

Reinsurance amount

Total

Subordinated liabilities

Owners' equity

Share capital                                                35,339,500          35,339,500

Capital surplus                                              24,744,763          24,744,763

General reserve                                                 709,155             709,155

Other reserves                                                  420,499             420,499

Retained earnings                                           -28,642,651           2,309,498

Net profit/loss for the financial year                       -1,819,861         -30,952,149

Treasury shares

Total                                                        30,751,405          32,571,266

Total liabilities and owners' equity                        110,471,994         109,073,855

 

 

Alexander Zaporozhtsev

ASA Kindlustus AS

Head of Financial Department

Tel. + 372 2 42 52 98