Financial Statements
Sava Re Group
Consolidated income statement
115
(EUR)
Notes
2018
2017
Net earned premiums
28
504,669,701
470,865,993
Gross premiums written
546,299,539
517,233,431
Written premiums ceded to reinsurers and co-insurers
-26,942,852
-34,243,296
Change in gross unearned premiums
-11,415,695
-13,765,765
Change in unearned premiums, reinsurers’ and co-insurers’ shares
-3,271,291
1,641,623
Investment income
29
26,802,161
27,446,915
Interest income
16,459,186
18,607,327
Other investment income
10,342,975
8,839,588
Net unrealised gains on investments of life insurance policyholders who bear the investment risk
16,867,324
16,849,384
Other technical income
30
21,238,357
15,429,720
Commission income
3,634,682
2,870,868
Other technical income
17,603,675
12,558,852
Other income
30
14,549,676
6,058,000
Net claims incurred
31
-320,760,586
-296,103,320
Gross claims payments, net of income from recourse receivables
-342,556,518
-309,727,160
Reinsurers’ and co-insurers’ shares
12,460,118
15,846,528
Change in the gross claims provision
9,913,517
-2,931,960
Change in the provision for outstanding claims, reinsurers’ and co-insurers’ shares
-577,703
709,272
Change in other technical provisions
32
13,207,584
-2,179,849
Change in technical provisions for policyholders who bear the investment risk
32
15,962,680
-1,121,327
Expenses for bonuses and rebates
288,628
5,848
Operating expenses
33
-178,131,437
-156,962,328
Acquisition costs
-58,372,509
-51,949,127
Change in deferred acquisition costs
1,598,536
2,389,002
Other operating expenses
-121,357,464
-107,402,203
Expenses for investments in associates and impairment losses on goodwill
-151,130
0
Impairment loss on goodwill
1
-94,906
0
Loss arising out of the investment in the equity-accounted associate company
5
-56,224
0
Expenses for financial assets and liabilities
29
-9,604,451
-11,891,544
Impairment losses on financial assets not at fair value through profit or loss
-1,943,975
-320,000
Interest expense
-28,445
-718,860
Other investment expenses
-7,632,031
-10,852,684
Net unrealised losses on investments of life insurance policyholders who bear the investment risk
-23,498,245
-8,256,416
Other technical expenses
34
-23,305,829
-17,486,080
Other expenses
34
-2,873,861
-2,774,013
Profit or loss before tax
55,260,572
39,880,983
Income tax expense
35
-12,248,723
-8,786,075
Net profit or loss for the period
43,011,849
31,094,908
Net profit or loss attributable to owners of the controlling company
42,790,617
31,065,329
Net profit or loss attributable to non-controlling interests
221,232
29,579
Earnings per share (basic and diluted)
20
2.76
2.00
The notes to the financial statements in sections from 17.4 to 17.11 form an integral part of these financial statements.
115: GRI 102-7
Sava Re Group Financial Statements
(*.pdf 0.84 MB)
