LEKS KINDLUSTUSE AS

INCOME STATEMENT

01.07-30.09.99

 

in thousand EEK

Consolidated, unaudited 

                                                                Group                      Leks Kindlustus

                                                                  Q3           Q3           Q3           Q3

                                                                 1999         1998         1999         1998

TECHNICAL ACCOUNT - NON-LIFE INSURANCE BUSINESS

 

Earned premium, net of reinsurance

Gross premiums written                                         48,116       56,157       48,133       46,854

Outward reinsurance premiums                                  -12,425      -20,758      -12,425      -16,055

Change in the gross provision for unearned premiums             3,640       -4,759        3,640       -1,751

Reinsurer’s share in change in the                             -1,773        5,081       -1,773        3,282

gross provisions for unearned premiums

Total                                                          37,559       35,721       37,575       32,331

 

Other technical income, net of reinsurance                      2,132          415        2,132          388

 

Claims incurred, net of reinsurance                              est

Total claims                                                  -20,454      -31,726      -23,566      -28,704

Reinsurer’s share in total claims                               5,995        9,532        5,995        8,202

Change in the provision for claims                             -6,508       -9,738       -3,358       -9,801

Reinsurer’s share in change in the provision for claims           680        3,965          680        3,485

Total                                                         -20,287      -27,966      -20,249      -26,818

 

Change in other technical provisions, net of reinsurance

Gross amount                                                   -2,445        2,839       -2,445        2,839

Reinsurer’s share                                               2,313         -680        2,313         -680

Total                                                            -132        2,159         -132        2,159

 

Net operating expenses

Acquisition costs                                              -8,020      -10,974       -8,020       -8,753

Change in deferred acquisitions costs                            -233          412         -233           44

Adminstrative expenses                                         -9,666      -11,234       -9,675       -7,106

Reinsurance communication and profit participation              3,569        6,329        3,569        4,161

Change in deferred reinsurance communications                     562         -419          562         -419

Total                                                         -13,788      -15,887      -13,796      -12,073

 

Other technical changes, net of reinsurance                    -1,479       -3,060       -1,479       -3,060

 

RESULT OF TECHNICAL ACCOUNT - NON-LIFE INSURANCE BUSINES        4,005       -8,618        4,051       -7,074

RESULT OF TECHNICAL ACCOUNT - LIFE ASSURANCE BUSINESS                        1,012

TOTAL TECHNICAL RESULT                                          4,005       -7,606        4,051       -7,074

 

 

NON-TECHNICAL ACCOUNT

 

Investment income

Income from subsidiaries and associates                            11          629           34        1,324

Income from land and buildings

Income from other investments                                     878        1,758          948          817

Value adjustments of investments

Gains on realization of investments                               432          412          432          406

Total                                                           1,321        2,800        1,414        2,548

 

Investments expenses

Investments expenses                                              -83         -295         -125         -281

Expenses related to subsidiaries and associates                  -726       -2,961         -726       -2,258

Value adjustments of investments                               -2,497        5,907       -2,497        2,144

Amortization and value adjustments on goodwill

Losses on realization of investments                             -283       -4,886         -283       -1,742

Total                                                          -3,589       -2,234       -3,631       -2,138

 

Other revenue                                                     415          748          406          718

Other expenses                                                   -241         -291         -330         -714

6. Extraordinary income

7. Extraordinary expenses

 

Extraordinary income                                                            12

Extraordinary expenses                                                         -10

 

Income tax                                                       -701         -232         -701         -195

 

Profit after taxes                                              1,210       -6,813        1,210       -6,855

 

Minority interest                                                              -41

 

NET PROFIT (-LOSS) FOR THE YEAR                                 1,210       -6,855        1,210       -6,855