LEKS KINDLUSTUS

INCOME STATEMENT

01.01-30.09.98

 

Consolidated, unaudited, 

in full kroons

 

                                                                     Leks          Leks         Group         Group

                                                              1998 9 months        1997   1998 9 months        1997

TECHNICAL ACCOUNT OF NON-LIFE INSURANCE

Earned premium, net of reinsurance

1.1. Gross premiums                                           118 626 288    93 949 178   142 809 401   105 113 279

1.2. Outward reinsurance premium                              -39 574 953   -39 820 753   -52 022 515   -42 942 139

1.3. Change in provision for unearned premiums                 -5 170 357   -13 137 666    -7 876 650    -2 948 747

1.4. Reinsurer’s share in change in the provision for 

     unearned premiums   					 -478 736     5 612 811     4 616 294    -2 946 715

1. Total                                                       73 402 242    46 603 570    87 526 530    56 275 678

2. Other premiums earned, net of reinsurance		          398 403        24 203       425 570       244 358

Claims incurred, net of reinsurance

3.1. Claims paid		                               69 855 691    27 085 681    79 288 491    33 695 770

3.2. Reinsurer’s share in total claims                        -27 377 886    -9 650 815   -30 108 955   -12 195 611

3.3. Change in the provision for claims                        17 879 950    10 391 638    17 795 079    -5 356 999

3.4. Reinsurer’s share in change in the provision for claims   -3 971 937    -4 900 550    -5 160 317    12 023 782

3. Total                                                       56 385 818    22 925 954    61 814 298    28 166 942

Change in other technical provisions, net of reinsurance

4.1. Total amount                                              -2 588 706                  -2 588 706

4.2. Reinsurer’s share                                             64 682                      64 682

4. Total                                                       -2 524 024                  -2 524 024

5. Bonuses, net of reinsurance

Net operating expenses

6.1. Deferred acquisition expenses                             23 339 505    23 438 887    28 750 087    25 460 397

6.2. Change in deferred acquisition expenses                    1 473 989    -5 327 792       -69 884    -6 047 015

6.3. Administative expenses                                    26 495 193    14 937 048    35 508 328    20 566 501

6.4. Reinsurance commission and profit participation          -10 939 386   -11 650 345   -13 107 349   -14 022 643

6.5. Reinsurer’s share in change in acquisition expenses          538 548       906 348       538 548       906 348

6. Total                                                       40 907 849    22 304 146    51 619 730    26 863 588

7. Other technical changes, net of reinsurance                  3 078 457     2 282 856     3 078 457     2 282 856

9. RESULT OF NON-LIFE INSURANCE TECHNICAL ACCOUNT             -24 047 455      -885 183   -26 036 361      -793 350

 

LIFE INSURANCE TECHNICAL ACCOUNT

Earned premiums, net of reinsurance

1.1. Gross premiums written                                                                 9 517 682     8 998 780

1.2. Outward reinsurance premiums                                                            -572 368      -715 192

1. Total                                                                                    8 945 314     8 283 588

3. Unrealised income on investments                                                                             485

4. Other technical income, net of reinsurance

Claims incurred, net of reinsurance

5.1. Claims paid                                                                              968 052       802 690

incl5.1.1. Insurance amounts

    5.1.2. Repurchase amounts

    5.1.3. Claim handling expenses

5.2. Reinsurance share in claims paid

5.3. Change in provision for claims refused

5.4. Reinsurance share in change in provision for claims refused

5. Total                                                                                      968 052       802 690

Change in life insurance provision, net of reinsurance

6.1. Gross amount                                                                          -2 819 291    -2 288 252

6.2. Reinsurer’s share                                                                       -122 177      -153 653

6. Total                                                                                   -2 941 468    -2 441 905

Change in other technical provisions, net of reinsurance

7.1. Gross amount                                                                             577 792      -924 062

7.2. Reinsurer’s share                                                                         -8 255       -32 716

7. Total                                                                                      569 537      -956 778

8. Bonuses and rebates, net of reinsurance                                                     24 425        10 856

Net operating expenses

9.1. Acquisition costs                                                                      1 691 419     1 120 332

9.2. Change in deferred acquisition costs                                                     972 599       899 320

9.3. Administrative expenses                                                                3 123 576     2 924 042

9.4. Reinsurance commissions and profit participation                                         195 945

9.5. Reinsurance share in change in deferred acquisition costs

9. Total                                                                                    3 646 451     3 145 054

11. Unrealised loss on investments                                                        	            422 836

12. Other technical expenses, net of reinsurance                                                  782

13. RESULT OF LIFE INSURANCE TECHNICAL ACCOUNT     		                            1 933 673       525 666

 

Investment income

2.1. Income from subsidiaries and associates                    2 149 640       789 552       747 000

2.2. Income from land and buildings                                             156 030                     156 030

2.3. Income from other investments                              1 547 499     1 441 163     3 147 323     4 156 637

2.4. Value readjustments on investments

2.5. Gains on the realisation of investments                      575 754     5 102 101       819 692     5 102 101

2. Total                                                        4 272 893     7 488 846     4 714 015     9 414 768

Investment expenses

3.1. Investment expenses                                          883 964       853 473       944 151     2 845 640

3.2. Expenses from subsidiaries and associates                  5 792 960     1 240 084     3 594 520       198 633

3.3. Value adjustments on investments		                2 376 748     1 644 207     1 576 156     3 099 314

3.4. Losses on the realization of investments                   3 010 883       414 599     8 284 057       734 889

3. Total                                                       12 064 555     4 152 363    14 398 884     6 878 476

4. Other income                                                 1 382 821       726 237     1 475 970       843 030

5. Other expenses                                               2 109 498     1 794 994     1 084 893     1 917 288

6. Extraordinary income                                                                        17 363

7. Extraordinary expenses                                                                      10 337

8. Income tax                                                   1 308 471     1 951 023     1 397 536     2 245 496

9. Minority intrest                                                                           912 725       482 666

9. PROFIT (LOSS) FOR THE FINANCIAL YEAR                       -33 874 265      -568 480   -33 874 265      -568 480