LEKS KINDLUSTUSE AS

BALANCE SHEET

30.09.99

 

Consolidated, unaudited

in thousand EEK

 

                                                                     Group                  Leks Kindlustus

ASSETS                                                            30.09.99     31.12.98     30.09.99     31.12.98

 

Cash and bank                                                        3,490        5,093        3,478        2,042

Receivables

Receivables from direct insurance business                           9,949       15,379       10,265       10,551

incl. Policyholders                                                  6,249       13,286        6,249        8,464

Intermediaries                                                       3,195        1,939        3,195        1,932

Other                                                                  505          155          822          155

Receivables from reinsurance business                                  859        7,403          859        6,511

Other receivables                                                      235          891          113          145

Transactions with shareholders

Total                                                               11,042       23,673       11,237       17,207

Accrued income and prepaid expenses

Accrued income                                                       1,345          884        1,343          723

Deferred acquisition expenses                                        5,725       12,210        5,725        6,885

Other prepaid expenses                                               4,776        7,240        3,967        5,561

Total                                                               11,846       20,335       11,035       13,169

Investments

Land and buildings                                                  29,767       29,842       17,427       17,502

Subsidiaries                                                                                   1,345       27,014

incl. Shares and units                                                                           630       26,101

Bonds and loans                                                                                  715          913

Associated companies

incl. Shares and units

Bonds and loans

Other financial investments                                         82,808       52,467       95,338       48,684

incl. Shares and other variable-yield securities                    10,486        4,055       10,486        3,526

Debt securities and other fixed income securities                   36,038       39,095       36,038       25,696

Participation in joint investments

Loans guaranteed by mortgages                                           90           94       12,620       12,624

Other loans                                                            665          909          665          869

Deposits with credit institutions                                   35,528        8,314       35,528        5,969

Other

Deposits with reinsurers

Total                                                              112,574       82,309      114,110       93,199

Investments for the benefit of life-assurance

policyholders who bear the investment risk                                           82

Intangible assets                                                    1,415        1,699        1,411        1,693

Goodwill                                                             1,411        1,693        1,411        1,693

Other intangible assets                                                  5            6

Tangible assets                                                     10,963       20,976        9,387       12,898

TOTAL ASSETS                                                       151,331      154,167      150,657      140,207

 

LIABILITIES AND OWNERS' EQUITY

LIABILITIES

Creditors of direct insurance business                               3,795        5,748        3,795        5,443

incl. Policyholders                                                  2,133        3,677        2,133        3,373

Intermediaries                                                       1,184        1,579        1,184        1,579

Other                                                                  477          491          477          491

Creditors of reinsurance business                                    3,709        9,145        3,709        5,241

Other liabilities                                                    1,952        4,302        1,858       15,031

Total                                                                9,456       19,194        9,362       25,715

Accrued expenses and prepaid revenues

Accrued expenses                                                     9,981        6,841        6,263        5,074

Deferred reinsurance commissions                                     4,309        7,909        4,309        5,509

Total                                                               14,290       14,750       10,572       10,583

Technical provisions

Provision for unearned premiums                                     43,478       44,948       43,478       38,791

incl. Gross amount                                                  57,085       70,216       57,085       56,545

Reinsurance amount                                                 -13,607      -25,268      -13,607      -17,754

Life assurance provision                                                          6,965

incl. Gross amount                                                                7,035

Reinsurance amount                                                                  -70

Claims outstanding                                                  45,004       39,669       48,141       37,912

incl. Gross amount                                                  63,490       56,312       66,626       52,773

Reinsurance amount                                                 -18,486      -16,643      -18,486      -14,861

Provision for bonuses                                                                96

incl. Gross amount                                                                   96

Reinsurance amount

Other technical provisions                                           1,425        1,106        1,425          933

incl. Gross amount                                                   8,869        5,523        8,869        5,348

Reinsurance amount                                                  -7,443       -4,417       -7,443       -4,415

Total                                                               89,907       92,784       93,044       77,636

Technical provisions for life-assurance policies where

investment risk is borne by the policyholders                                        82

Minority interest                                                                   694

OWNERS' EQUITY

Share capital                                                       39,737       76,117       39,737       76,117

Capital surplus                                                     16,970       19,784       16,970       19,784

General reserves                                                     2,922        3,837        2,922        2,922

Unrealized exchange differences                                                     -59

Retained earnings                                                  -19,936       -2,595      -19,936       -1,680

Profit/loss for the financial year                                  -2,016      -66,807       -2,016      -67,256

Treasury shares                                                                  -3,614                    -3,614

TOTAL OWNERS' EQUITY                                                37,678       26,663       37,678       26,273

TOTAL LIABILITIES AND OWNERS' EQUITY                               151,331      154,167      150,657      140,207