Leks Kindlustuse AS

BALANCE SHEET

30.06.1999

 

Consolidated, unaudited 

in EEK                                                                 Group                      Leks Kindlustus

 

                                                                6/30/99       12/31/98        6/30/99       12/31/98

ASSETS

Cash and bank                                                 6,626,325      5,092,880      6,467,354      2,041,753

Receivables

Receivables from direct insurance business                   14,597,693     15,379,032     14,597,693     10,550,646

incl. Policyholders                                           9,368,439     13,285,651      9,368,439      8,464,397

        Intermediaries                                        4,205,185      1,938,691      4,205,185      1,931,559

        Other                                                 1,024,069        154,689      1,024,069        154,689

Receivables from reinsurance business                         6,258,809      7,402,936      6,258,809      6,511,390

Other receivables                                             4,645,246        891,451      4,620,127        144,972

Arveldused aktsionäridega

Total                                                        25,501,748     23,673,419     25,476,629     17,207,008

Accrued income and prepaid expenses

Accrued income                                                  887,414        884,154        886,686        723,317

Deferred acquisition expenses                                 5,957,333     12,210,493      5,957,333      6,884,560

Other prepaid expenses                                        4,401,745      7,240,203      4,351,909      5,560,978

Total                                                        11,246,492     20,334,850     11,195,928     13,168,855

Investments

Land and buildings                                           29,570,816     29,841,611     17,230,816     17,501,611

Subsidiaries                                                                                1,336,273     27,013,585

incl. Shares and units                                                                        576,445     26,100,523

        Bonds and loans                                                                       759,828        913,062

 

Other financial investments                                  49,518,693     52,467,348     62,048,693     48,684,132

incl. Shares and other variable-yield securities              7,509,792      4,054,963      7,509,792      3,526,052

        Debt securities and other fixed income securitie     13,726,607     39,095,082     13,726,607     25,695,740

Osalus ühisinvesteeringutes

        Loans guaranteed by mortgages                            91,473         94,487     12,621,473     12,624,487

        Other loans                                             690,821        908,662        690,821        869,162

        Deposits with credit institutions                    27,500,000      8,314,154     27,500,000      5,968,691

        Other

Deposits with reinsurers

Total                                                        79,089,509     82,308,959     80,615,782     93,199,327

Investments for the benefit of life-assurance policyholders

who bear the investment risk                                                    81,563

Intangible assets                                             1,509,901      1,699,024      1,504,741      1,692,832

Goodwill                                                      1,504,741      1,692,832      1,504,741      1,692,832

Other intangible assets                                           5,160          6,192

Tangible assets                                              12,140,872     20,976,146     10,419,818     12,897,704

TOTAL ASSETS                                                136,114,847    154,166,841    135,680,252    140,207,478

 

LIABILITIES AND OWNERS' EQUITY

LIABILITIES

Creditors of direct insurance business                        3,478,030      5,747,920      3,478,030      5,443,145

incl. Policyholders                                           1,850,837      3,677,376      1,850,837      3,372,601

        Intermediaries                                        1,116,868      1,579,127      1,116,868      1,579,127

        Other                                                   510,325        491,417        510,325        491,417

Creditors of reinsurance business                             3,233,212      9,144,609      3,233,212      5,240,950

Other liabilities                                             2,496,151      4,301,710      2,734,554     15,031,307

Total                                                         9,207,393     19,194,239      9,445,796     25,715,402

Accrued expenses and prepaid revenues

Accrued expenses                                              6,887,537      6,840,606      6,214,539      5,074,399

Deferred reinsurance commissions                              4,871,122      7,909,368      4,871,122      5,508,665

Total                                                        11,758,659     14,749,974     11,085,661     10,583,064

Technical provisions

Provision for unearned premiums                              45,345,232     44,947,902     45,345,232     38,790,918

incl. Gross amount                                           60,725,155     70,215,607     60,725,155     56,544,906

        Reinsurance amount                                  -15,379,923    -25,267,705    -15,379,923    -17,753,988

Life assurance provision                                                     6,965,424

incl. Gross amount                                                           7,035,127

        Reinsurance amount                                                     -69,703

Claims outstanding                                           45,463,032     39,669,182     45,463,032     37,911,868

incl. Gross amount                                           63,268,098     56,312,083     63,268,098     52,772,871

        Reinsurance amount                                  -17,805,066    -16,642,901    -17,805,066    -14,861,004

Provision for bonuses                                                           95,804

incl. Gross amount                                                              95,804

        Reinsurance amount

Other technical provisions                                    1,293,016      1,105,644      1,293,016        932,887

incl. Gross amount                                            6,423,630      5,522,629      6,423,630      5,348,129

        Reinsurance amount                                   -5,130,614     -4,416,985     -5,130,614     -4,415,242

Total                                                        92,101,280     92,783,955     92,101,280     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                                                26,316,800     76,116,800     26,316,800     76,116,800

Capital surplus                                              16,970,400     19,784,000     16,970,400     19,784,000

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

Unrealized exchange differences                                                -59,440

Retained earnings                                           -19,936,293     -2,594,720    -19,936,293     -1,680,415

Profit/loss for the financial year                           -3,225,826    -66,807,017     -3,225,826    -67,255,878

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

TOTAL OWNERS' EQUITY                                         23,047,515     26,662,762     23,047,515     26,273,341

TOTAL LIABILITIES AND OWNERS' EQUITY                        136,114,847    154,166,841    135,680,252    140,207,479