LEKS KINDLUSTUSE AS

INCOME STATEMENT

01.01-30.09.99

 

in thousand EEK

Consolidated, unaudited                                           Group                        Leks Kindlustus

                                                               9 m 1999        9 m 1998        9 m 1999        9 m 1998

TECHNICAL ACCOUNT - NON-LIFE INSURANCE BUSINESS

 

Earned premium, net of reinsurance

Gross premiums written                                           150,511         142,809         150,528         118,626

Outward reinsurance premiums                                     -40,942         -52,023         -40,942         -39,575

Change in the gross provision for unearned premiums                 -540          -7,877            -540          -5,170

Reinsurer’s share in change in the                                -4,147           4,616          -4,147            -479

gross provisions for unearned premiums

Total                                                            104,881          87,527         104,898          73,402

 

Other technical income, net of reinsurance                         5,859             426           5,859             398

 

Claims incurred, net of reinsurance

Total claims                                                     -76,382         -79,288         -79,494         -69,856

Reinsurer’s share in total claims                                 23,715          30,109          23,715          27,378

Change in the provision for claims                               -17,004         -17,795         -13,854         -17,880

Reinsurer’s share in change in the provision for claims            3,625           5,160           3,625           3,972

Total                                                            -66,046         -61,814         -66,008         -56,386

 

Change in other technical provisions, net of reinsurance

Gross amount                                                      -3,520           2,589          -3,520           2,589

Reinsurer’s share                                                  3,028             -65           3,028             -65

Total                                                               -492           2,524            -492           2,524

 

Net operating expenses

Acquisition costs                                                -24,629         -28,750         -24,629         -23,340

Change in deferred acquisitions costs                             -1,160              70          -1,160          -1,474

Adminstrative expenses                                           -26,113         -35,508         -26,121         -26,495

Reinsurance communication and profit participation                11,839          13,107          11,839          10,939

Change in deferred reinsurance communications                      1,200            -539           1,200            -539

Total                                                            -38,864         -51,620         -38,872         -40,908

 

Other technical changes, net of reinsurance                       -4,466          -3,078          -4,466          -3,078

 

RESULT OF TECHNICAL ACCOUNT - NON-LIFE INSURANCE BUSINES             874         -26,036             920         -24,047

RESULT OF TECHNICAL ACCOUNT - LIFE INSURANCE BUSINESS                              1,934

TOTAL TECHNICAL RESULT                                               874         -24,103             920         -24,047

 

 

NON-TECHNICAL ACCOUNT

Investment income

Income from subsidiaries and associates                              632             747             639           2,150

Income from land and buildings

Income from other investments                                      3,663           3,147           3,733           1,547

Value adjustments of investments                                     990                             990

Gains on realization of investments                                1,151             820           1,151             576

Total                                                              6,436           4,714           6,513           4,273

 

Investments expenses

Investments expenses                                                -788            -944            -762            -884

Expenses related to subsidiaries and associates                     -742          -3,595            -742          -5,793

Value adjustments of investments                                  -2,388          -1,576          -2,388          -2,377

Amortization and value adjustments on goodwill

Losses on realization of investments                              -2,811          -8,284          -2,811          -3,011

Total                                                             -6,728         -14,399          -6,702         -12,065

 

Other revenue                                                        908           1,476             840           1,383

Other expenses                                                    -1,323          -1,085          -1,405          -2,109

 

Extraordinary income                                                                  17

Extraordinary expenses                                                               -10

 

Income tax                                                        -2,182          -1,398          -2,182          -1,308

 

Profit after taxes                                                -2,016         -34,787          -2,016         -33,874

 

Minority interest                                                                    913

 

NET PROFIT (-LOSS) FOR THE YEAR                                   -2,016         -33,874          -2,016         -33,874