LEKS KINDLUSTUS

BALANCE SHEET

31.03.1999

 

Consolidated, unaudited

in EEK                                                                                     Leks            Leks

                                                          Group           Group      Kindlustus      Kindlustus

 

                                                       31.03.99        31.12.98        31.03.99        31.12.98

ASSETS

Cash and bank                                         5,309,919       5,092,880       4,920,096       2,041,753

Receivables

Receivables from direct insurance business           12,275,869      15,379,032      12,275,869      10,550,646

incl.Policyholders                                    9,302,919      13,285,651       9,302,919       8,464,397

     Intermediaries                                   2,632,833       1,938,691       2,632,833       1,931,559

     Other                                              340,117         154,689         340,117         154,689

Receivables from reinsurance business                 5,839,236       7,402,936       5,839,237       6,511,390

Other receivables                                     3,205,908         891,451       3,391,907         144,972

Total                                                21,321,013      23,673,419      21,507,013      17,207,008

Accrued income and prepaid expenses

Accrued income                                          480,013         884,154         480,013         723,317

Deferred acquisition expenses                         6,199,912      12,210,493       6,199,912       6,884,560

Other prepaid expenses                                4,861,883       7,240,203       4,823,354       5,560,978

Total                                                11,541,808      20,334,850      11,503,279      13,168,855

Investments

Land and buildings                                   29,706,470      29,841,611      17,366,470      17,501,611

Subsidiaries                                         26,938,462                      28,597,226      27,013,585

incl.Shares and units                                26,497,607                      27,339,348      26,100,523

     Bonds and loans                                    440,855                       1,257,878         913,062

Affiliated companies

incl.Shares and units

Other financial investments                          21,353,788      52,467,348      33,883,788      48,684,132

incl.Shares and other variable-yield securities       4,138,413       4,054,963       4,138,413       3,526,052

     Debt securities and other fixed income securities 

     income securities                               15,704,658      39,095,082      15,704,658      25,695,740

     Loans guaranteed by mortgages                       93,003          94,487      12,623,003      12,624,487

     Other loans                                        367,714         908,662         367,714         869,162

     Deposits with credit institutions                1,050,000       8,314,154       1,050,000       5,968,691

     Other                                                                           33,883,787

Deposits with reinsurers

Total                                                77,998,720      82,308,959      79,847,484      93,199,327

Investments for the benefit of life-assurance policyholders 

who bear the investment risk                                             81,563

Intangible assets                                     1,604,463       1,699,024       1,598,787       1,692,832

Goodwill                                              1,598,787       1,692,832         1598787       1,692,832

Other intangible assets                                   5,676           6,192

Tangible assets                                      13,355,029      20,976,146        11475783      12,897,704

TOTAL ASSETS                                        131,130,952     154,166,841     130,852,442     140,207,479

 

 

Liabilities and owners' equity 

Liabilities

Creditors of direct insurance business               3,177,904       5,747,920       3,177,904       5,443,145

incl.Policyholders                                    1,479,606       3,677,376       1,479,606       3,372,601

     Intermediaries                                   1,041,271       1,579,127       1,041,271       1,579,127

     Other                                              657,027         491,417         657,027         491,417

Creditors of reinsurance business                     2,036,577       9,144,609       2,036,577       5,240,950

Other liabilities                                     7,639,176       4,301,710       8,134,302      15,031,307

Total                                                12,853,657      19,194,239      13,348,783      25,715,402

Accrued expenses and prepaid revenues

Accrued expenses                                      7,008,234       6,840,606       6,234,598       5,074,399

Deferred reinsurance commissions                      5,018,201       7,909,368       5,018,201       5,508,665

Total                                                12,026,435      14,749,974      11,252,799      10,583,064

Technical provisions

Provision for unearned premiums                      41,896,604      44,947,902      41,896,604      38,790,918

incl.Gross amount                                    58,734,627      70,215,607      58,734,627      56,544,906

     Reinsurance amount                             -16,838,023     -25,267,705     -16,838,023     -17,753,988

Life assurance provision                                              6,965,424

incl.Gross amount                                                     7,035,127

     Reinsurance amount                                                 -69,703

Claims outstanding                                   40,778,795      39,669,182      40,778,795      37,911,868

incl.Gross amount                                    56,833,015      56,312,083      56,833,015      52,772,871

     Reinsurance amount                             -16,054,220     -16,642,901     -16,054,220     -14,861,004

Provision for bonuses                                                    95,804

incl.Gross amount                                                        95,804

     Reinsurance amount

Other technical provisions                            1,256,665       1,105,644       1,256,665         932,887

incl.Gross amount                                     5,698,580       5,522,629       5,698,580       5,348,129

     Reinsurance amount                              -4,441,915      -4,416,985      -4,441,915      -4,415,242

Total                                                83,932,064      92,783,955      83,932,064      77,635,672

Technical provisions for life-assurance policies where the

investment risk is borne by the policyholders                            81,805

Minority interest                                                       694,105

Owners' equity

Share capital                                        76,116,800      76,116,800      76,116,800      76,116,800

Capital surplus                                      19,784,000      19,784,000      19,784,000      19,784,000

General reserve                                       2,922,434       3,836,739       2,922,434       2,922,434

Unrealized exchange differences                                         -59,440

Retained earnings                                   -68,936,293      -2,594,720     -68,936,293      -1,680,415

Profit/loss for the financial year                   -3,954,545     -66,807,017      -3,954,545     -67,255,878

Treasury shares                                      -3,613,600      -3,613,600      -3,613,600      -3,613,600

Total owners' equity                                 22,318,796      26,662,762      22,318,796      26,273,341

Total liabilities and owners' equity                131,130,952     154,166,841     130,852,442     140,207,479