ASA KINDLUSTUS

INCOME STATEMENT

01.01-30.09.98

 

unaudited		

in thousand EEK

                                                                           30.09.98    30.06.98    30.09.97

Earned premium, net of reinsurance

1.1. Gross premiums                                                          94,791      64,031     102,762

1.2. Outward reinsurance premiums                                            -8,487      -5,468     -15,256

1.3. Change in provision for unearned premiums                                1,576      -1,109      -4,335

1.4. Reinsurer’s share in change in the provision for unearned premiums      -1,013        -616      -3,966

1. Total                                                                     86,866      56,838      79,205

Claims incurred, net of reinsurance

2.1. Total claims                                                            44,090      28,631      45,744

incl. 2.1.1. Claims paid                                                     42,217      27,597      43,596

      2.1.2. Claims handling expenses                                         4,422       2,929       3,958

      2.1.3. Amounts received with recourse and realization of residue       -2,549      -1,896      -1,810

2.2. Reinsurer’s share in total claims                                       -5,241      -2,036      -7,428

2.3. Change in the provision for claims                                      14,245      13,650       6,125

2.4. Reinsurer’s share in change in the provision for claims                 -4,397      -5,178      -1,387

2. Total                                                                     48,697      35,067      43,054

Net operating expenses

3.1. Deferred acquisition expenses                                           27,415      17,302      24,515

3.2. Change in deferred acquisition expenses                                  1,373       1,077      -7,360

3.3. Administative expenses                                                  15,518       9,012      16,357

3.4. Reinsurance communication and profit participation                      -1,794      -1,216      -3,112

3.5. Change in deferred reinsurance communications                             -299         -13      -1,126

3. Total                                                                     42,213      26,162      29,274

4. Other technical changes, net of reinsurance                                4,381       2,968

4. RESULT OF TECHNICAL ACCOUNT		                                     -8,425      -7,359       6,877

 

NON-TECHNICAL ACCOUNT

Unaudited, in thousand EEK

1. Result of technical account                                               -8,425      -7,359       6,877

Investment income

2.1. From other investments                                                   2,472       2,188       2,756

2.2. Gains on the realization of investments and adjustments in value         2,321                   4,282

2. Total                                                                      4,793       2,188       7,038

Investment expenses

3.1. Investments expenses                                                       234          79          77

3.2. Losses on the realization of investments and adjustments in value        4,215         917           0

3. Total                                                                      4,449         996          77

4. Other income                                                               1,130       2,217       4,070

5. Other expenses                                                             3,893       2,477       3,824

6. Income tax                                                                 1,175         767       1,074

7. PROFIT (LOSS) FOR THE FINANCIAL YEAR                                     -12,017      -7,194      13,011

 

 

Nadja Tarmak

AB Kindlustuse Grupp

Manager of the Financial Division

Tel. +372 6 440 542