Financial Statements
Sava Re
Income statement
(EUR)
Notes
2018
2017
Net earned premiums
23
133,740,178
130,864,620
Gross premiums written
151,636,216
153,219,752
Written premiums ceded to reinsurers and co-insurers
-18,407,793
-18,907,314
Change in gross unearned premiums
454,952
-4,257,043
Change in unearned premiums, reinsurers’ and co-insurers’ shares
56,803
809,225
Income from investments in subsidiaries and associates
24
33,558,455
26,136,830
Investment income
25
10,953,196
9,652,630
Interest income
3,589,693
3,895,944
Other investment income
7,363,502
5,756,686
Other technical income
26
8,964,961
6,098,385
Commission income
2,530,359
1,934,678
Other income
6,434,602
4,163,707
Other income
27
701,331
444,136
Net claims incurred
28
-76,604,633
-78,583,967
Gross claims payments, net of income from recourse receivables
-82,687,678
-83,525,449
Reinsurers’ and co-insurers’ shares
6,495,334
5,982,760
Change in the gross claims provision
-1,719,136
-2,101,712
Change in the provision for outstanding claims, reinsurers’ and co-insurers’ shares
1,306,847
1,060,434
Change in other technical provisions
29
-268,920
-158,608
Expenses for bonuses and rebates
29
-811
85,678
Operating expenses
30
-47,563,317
-43,113,125
Acquisition costs
-34,848,052
-33,185,632
Change in deferred acquisition costs
43,433
880,778
Other operating expenses
-12,758,699
-10,808,271
Expenses for investments in subsidiaries and associates
24
-4,020,539
0
Expenses for financial assets and liabilities
25
-8,496,351
-10,551,329
Impairment loss on financial assets not measured at fair value through profit or loss
-1,943,974
-320,000
Interest expenses
0
-718,338
Other expenses
-6,552,377
-9,512,991
Other technical expenses
31
-5,662,287
-5,876,562
Other expenses
27
-279,399
-234,824
Profit or loss before tax
45,021,864
34,763,864
Income tax expense
32
-3,154,368
-1,789,672
Net profit or loss for the period
41,867,497
32,974,192
Earnings/loss per share (basic and diluted)
17
2.70
2.13
The notes to the financial statements in sections 23.2–23.10 form an integral part of these financial statements.
115: GRI 102-7
Sava Re Financial Statements
(*.pdf 0.68 MB)
