LEKS KINDLUSTUS

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, Q1 2000



in thousand EEK                        Group          Leks Kindlustus

                                       Q1 00   Q1 99   Q1 00   Q1 99



TECHNICAL ACCOUNT - NON-LIFE INSURANCE BUSINESS



Earned premium, net of reinsurance

Gross premiums written                60,513  49,858  60,522  49,858

Outward reinsurance premiums         -13,652 -14,037 -13,652 -14,037

Change in the gross provision         -8,655  -2,794  -8,655  -2,794

for unearned premiums

Reinsurer’s share in change in

the gross provisions for                 -16    -312     -16    -312

unearned premiums

Total                                 38,190  32,715  38,198  32,715



Other technical income, net

of reinsurance                         4,191   1,614   4,191   1,614



Claims incurred, net of reinsurance

Total claims                         -29,725 -31,536 -29,787 -31,536

Reinsurer’s share in total claims      6,305   9,831   6,305   9,831

Change in the provision for claims     1,710  -4,060   2,053  -4,060

Reinsurer’s share in change in

the provision for claims              -4,603   1,193  -4,603   1,193

Total                                -26,312 -24,571 -26,032 -24,571



Change in other technical

provisions, net of reinsurance

Gross amount                          -2,572    -350  -2,572    -350

Reinsurer’s share                      1,869      27   1,869      27

Total                                   -703    -324    -703    -324



Net operating expenses

Acquisition costs                    -10,357  -8,137 -10,357  -8,137

Change in deferred acquisitions cost     665    -685     665    -685

Adminstrative expenses                -6,804  -7,991  -6,810  -7,991

Reinsurance communication and

profit participation                   3,760   3,987   3,760   3,987

Change in deferred reinsurance

communications                           -59     490     -59     490

Total                                -12,794 -12,334 -12,800 -12,334



Other technical changes,

net of reinsurance                    -2,365  -1,496  -2,365  -1,496



RESULT OF TECHNICAL ACCOUNT -            207  -4,398     490  -4,398

NON-LIFE INSURANCE BUSINESS



NON-TECHNICAL ACCOUNT



Investment income

Income from subsidiaries                                  58     249

and associates

Income from land and buildings            15              15

Income from other investments          1,892     889   1,910     889

Value adjustments of investments       1,285     990   1,285     990

Gains on realization of investments      540     655     540     655

Total                                  3,732   2,534   3,808   2,782



Investments expenses

Investments expenses                    -113    -396    -107    -369

Expenses from subsidiaries                              -298

and associates

Value adjustments of investments        -110    -205    -110    -205

Loss from sale of investments           -500    -549    -500    -549

Total                                   -723  -1,149  -1,015  -1,123



Other revenue                            466     226     455     205

Other expenses                          -426    -491    -482    -746



Income tax                                      -676            -676



Profit after taxes                     3,256  -3,955   3,256  -3,955



Minority interest



NET PROFIT (-LOSS) FOR Q1              3,256  -3,955   3,256  -3,955





Pille Eikner

PR manager

+372 62 67 200