Allianz Hungária Biztosító Zrt.

Transcription

1 Allianz Hungária Biztosító Zrt. Annual Report 27

2 Annual Report 27 Main indicators Allianz Hungária Biztosító Zrt. 25 HUF million 25 EUR million Change % 26 EUR million 26 EUR million Change % 27 EUR million 27 EUR million Gross premium income Gross claims paid Gross investment income Registered capital Equity Retained profit for the year 172,342 89,123 19,46 4,266 38,55 3, ,147 9,44 16,539 4,266 46,637 8, ,141 93,33 19,8 4,266 55,849 9, Net technical reserves Technical reserves following investments made for the benefit of life policyholders Total technical reserves 182,266 9, , ,122 12,621 21, ,367 22, , The revaluation of the Hungarian currency figures for years 25 and 26 was done according to the Hungarian Foreign Trade Bank middle rate of exchange on 31 December 26 and 31 December 25, respectively. The revaluation of the Hungarian currency figures for year 27 was done according to the National Bank of Hungary rate of exchange on 31 December 27. 2

3 Annual Report 27 1

4 Letter to the shareholders Dr. Károly Salamon Chairman of the Board of Management and CEO Welcome Dear Customers, Year 27 again proved to be successful for Allianz Hungária as we maintain our market leader position and our Company operates as a profitable, securely founded and feasible venture. We met the premium revenue expectations set by the Allianz Group by maintaining the high level of profitability characteristic to our Company. This required highly organised business operation of our branches and profit centers. As one of our major achievements last year, in the life business we could grow more than 4 percent that significantly exceeded the market average. Our decision to change from the classic life products to investment type unit-linked constructions (more specifically, to one-off payment modes) proved to be sound. However, products involving continuous payment still continue to be the basis of our longterm customer relations. 2

5 Annual Report 27 Our premium revenue in 27 exceeded HUF 183 billion (722.9 million euro). The life premium revenues amounted to more than HUF 35 billion (99.7 million euro), while from non-life s the company generated HUF 148 billion (611.8 million euro). The company's profit after tax was HUF 16,212 billion (64 million euro) and we again outperformed the profit target expected from the Allianz Group. Our technical reserves amounted to HUF 212 billion (838 million euro) unit-linked reserves to 22,6 mrd HUF that stands for guarantee that we can meet our obligations at all times. Our company is one of Hungary's largest institutional investors having managed altogether up to HUF 61 billion (2.35 billion euro) for customers, and members of pension and health funds in 27. The biggest novelty in 27 was founding Allianz Direct. By founding the company Allianz New Europe Holding started online sales operations in Hungary as well. By introducing the online channel we signalled the market that we are prepared for the changes, as ever more people make their decisions through the Internet. Allianz Direct delivered on the expectations and in the course of the third party campaign it proved to be one of the most successful sales channels. Allianz Bank - the subsidiary of Allianz Hungária - closed its first full business year successfully. The company currently has more than 6, customers and was extremely successful in implementing the so-called assurbanking model into its operation, even amidst intense competitive environment characteristic for the Hungarian retail banking market. In 28 - within a continuously changing economic environment raising new challenges - we expect to progress with sustainable growth. Our company plays an important role in developing the economy of Hungary as we thrive for rendering swift and high quality services as well as favourable conditions to our customers in every situation and phase of their lives - based on innovative product development and excellent, coordinated team work. Budapest May 28 Sincerely yours, Dr. Salamon Károly President and Chief Executive Officer 3

6 Annual Report 27 Supervisory Board and Board of Management Supervisory board Board of management Dr. Werner Zedelius Member of the Board of Management, Allianz SE, Chairman of the Supervisory Board, Allianz Hungária Zrt. Dr. Klaus Junker Executive Vice President, Allianz SE, Deputy Chairman of the Supervisory Board, Allianz Hungária Zrt. Dr. György Kollár Managing director, Member of the Supervisory Board, Allianz Hungária Zrt. Dr. Károly Salamon Chairman of the Board of Management and CEO Sándor Hoványi Retail non-life business Dr. Tamás Kálózdi Sales András Kozek Life and pension Zsolt Zsedényi Finance Dr. Ádám Farkas Banking 4

7 Éves jelentés 26 Balance sheet and profit and loss statement of Allianz Hungária Biztosító Zrt. 5

8 Annual Report 27 Balance sheet at 31 December, 27 Assets Life 26 Non-life 26 Non business 26 Total A Intangible assets B Investments (financial assets) (I.-VI.) I. Land and buildings II. Investments in related companies III. Other investments IV. Deposit receivables from re business assumed V. Adjustments for investments VI. Valuation difference for investments C Investments made for the benefit of life policyholders who bear the investment risk D Receivables E Other assets F Prepaid expenses and accrued income Total assets (A+B+C+D+E+F) 1, ,71 9,53 13,31 219, ,621 12,798 4,1 1, , ,524 67,524 22,594 1,349 1,91 3,21 96,723 1, ,67 1,371 16,86 168, ,645 1,413 7, ,935 5,314 5,314 1,38 1, ,384 2, ,445 1,371 16,86 241, ,594 8,374 3,916 11, ,42 Equity and liabilities Life 26 Non-life 26 Non business 26 Total A Equity (I.-VII.) I. Registered capital II. Registered but unpaid capital (-) III. Capital reserve IV. Accumulated profit reserve (±) V. Non-distributable reserve VI. Valuation reserve VII.Retained profit (±) B Subordinated loan capital C Technical reserves D Technical reserves for investments executed for life policyholders who carry the investment risk (unit-linked) E Provisions F Deposit receivables from re business ceded G Liabilities H Accrued expenses and deferred income Total equity and liabilities (A+B+C+D+E+F+G+H) 46,637 4,266 11,145 22,855 8, ,122 12, ,984 4, ,14 9, ,666 1,394 2,647 61,761 22, ,74 1,156 96,723 39,539 3,516 6,391 24,94 4,728 15, ,21 16,352 3,85 211,935 6, ,928 1, , ,384 55,849 4,266 11,145 31,226 9, ,367 22, ,21 19,532 5,39 317,42 6

9 Annual Report 27 Profit and Loss Statement A B C D E 1. Net earned premiums, without re Gross premiums Gross premiums ceded (-) Net change in reserves for unearned premiums (±) 2. Allocated investment return to policyholders 3. Technical income from investments 4. Investment income allocated from life (-) 5. Non-realised income from investments 6. Other technical income 7. Claim expenses Claims paid and settlement costs Change in reserves for outstanding claims (±) 8. Change in actuarial reserves (±) 9. Change in other technical reserves (±) 1. Net operating costs Acquisition costs Administrative expenses Commissions and profit sharings assumed from reinsurers (-) 11. Investment expenses 12. Non-realised losses from investments 13. Other technical expenses Technical result ( ±8.± ) 14. Net investment income 15. Investment expenses I. Investment profit ( ) 16. Other income 17. Other expenses II. Result of other non-technical activities ( ) Profit from ordinary activities (+A+I.+II.) 18. Extraordinary income 19. Extraordinary costs III. Extraordinary result ( ) Pre-tax profit (+B+III.) IV. Tax payable Profit after tax (+C-IV.) V. Payment of dividends and shares from profit reserve VI. Dividend and shares paid (approved) Retained profit for the year (+D+V.-VI.) , ,147 19, , , ,175 93,77 6,98 7,174 5,191 4,325 25,529 17,563 2, ,673 2,494 9,27 15,796 3,746 12,5 3,47 8,82-5,35 16, ,989 3,1 12,889 4,518 8, Life 35,158 35, , , ,59 15, ,86 9,79 7,192 5,315 1, , ,49 26 Non-life 128, 147,94 19, ,222 78,333 6,889 2, ,64 2,31 16,942 2,333 3,43 1, Total 163, ,141 19, , , ,281 94,4 7,277 6,259 1,643 41,832 25,346 18,823 2, ,297 3,476 4,162 17,68 2,399 14,669 4,688 3,682 1,6 19, ,818 3,66 16,212 7, 9,212 Technical reserves for investments executed for life policyholders who carry the investment risk (unit-linked) (1+2.) 7

10 Annual Report 27 Balance sheet in euros at 31 December, 27 Assets 25 s 26 s Life 26 s Non-life 26 s Non business 26 s Total A Intangible assets B Investments (financial assets) (I.-VI.) I. Land and buildings II. Investments in related companies III. Other investments IV. Deposit receivables from re business assumed V. Adjustments for investments VI. Valuation difference for investments C Investments made for the benefit of life policyholders who bear the investment risk D Receivables E Other assets F Prepaid expenses and accrued income Total assets (A+B+C+D+E+F) 7, ,866 37,847 52, , ,123 5,827 15,888 43,632 1,132,263 3,84 266, ,524 89,181 5,326 4,38 12, ,778 5, ,81 4,935 66, , ,281 5,579 31, ,53 2,972 2,972 5,447 5,572 1,11 33,92 9,272 1,59,577 4,935 66, , ,181 33,54 15,459 44,857 1,251,4 Equity and liabilities 25 s 26 s Life 26 s Non-life 26 s Non business 26 s Total A Equity (I.-VII.) I. Registered capital II. Registered but unpaid capital (-) III. Capital reserve IV. Accumulated profit reserve (±) V. Non-distributable reserve VI. Valuation reserve VII.Retained profit (±) B Subordinated loan capital C Technical reserves D Technical reserves for investments executed for life policyholders who carry the investment risk (unit-linked) E Provisions F Deposit receivables from re business ceded G Liabilities H Accrued expenses and deferred income Total equity and liabilities (A+B+C+D+E+F+G+H) 185,214 16,942 44,258 9, , ,821 5, ,887 87,38 18,115 1,132,263 37,326 2,96 18,416 5,53 1, ,78 89, ,727 4, , ,63 13,878 25,225 98,298 18, ,455 2,239 4,3 64,544 15, ,53 27, , , , ,92 22,44 16,838 43, , ,36 838,235 89,181 2,527 4,3 77,97 19,89 1,251,4 The revaluation of the Hungarian currency figures for years 26 was done according to the Hungarian Foreign Trade Bank middle rate of exchange on 31 December 26, respectively. The revaluation of the Hungarian currency figures for year 27 was done according to the National Bank of Hungary rate of exchange on 31 December 27. 8

11 Annual Report 27 Profit and loss statement in euros A B C D E 1. Net earned premiums, without re Gross premiums Gross premiums ceded (-) Net change in reserves for unearned premiums (±) 2. Allocated investment return to policyholders 3. Technical income from investments 4. Investment income allocated from life (-) 5. Non-realised income from investments 6. Other technical income 7. Claim expenses Claims paid and settlement costs Change in reserves for outstanding claims (±) 8. Change in actuarial reserves (±) 9. Change in other technical reserves (±) 1. Net operating costs Acquisition costs Administrative expenses Commissions and profit sharings assumed from reinsurers (-) 11. Investment expenses 12. Non-realised losses from investments 13. Other technical expenses Technical result ( ±8.± ) 14. Net investment income 15. Investment expenses I. Investment profit ( ) 16. Other income 17. Other expenses II. Result of other non-technical activities ( ) Profit from ordinary activities (+A+I.+II.) 18. Extraordinary income 19. Extraordinary costs III. Extraordinary result ( ) Pre-tax profit (+B+III.) IV. Tax payable Profit after tax (+C-IV.) V. Payment of dividends and shares from profit reserve VI. Dividend and shares paid (approved) Retained profit for the year (+D+V.-VI.) 25 s 63, ,466 77,827 2, ,782 1,243 9, , ,647 24,22 28,494 2,611 16,146 11,387 69,749 1,99 1,392 6,645 9,92 35,849 62,736 14,879 47,857 12,13 32,97-19,994 63, ,52 12,314 51,188 17,945 33, s Life 138, , , , ,388 61,856 1,532 16,128 38,322 28,387 2,977 7, ,874 9, , s Non-life 55, ,793 78, ,383 39,191 27,192 8,578 3, ,728 79,66 66,873 9,211 13,432 6, s Total 644, 722,877 78, , , , ,47 28,724 24,76 42,6 165,115 1,43 74,299 9,227 1,874 9,66 13,719 16,426 67,369 9,468 57,91 18,54 14,533 3,971 78, ,222 14,234 63,988 27,628 36,36 The revaluation of the Hungarian currency figures for years 26 was done according to the Hungarian Foreign Trade Bank middle rate of exchange on 31 December 26, respectively. The revaluation of the Hungarian currency figures for year 27 was done according to the National Bank of Hungary rate of exchange on 31 December 27. 9

12 Annual Report 27 Auditor s report 1

13 Allianz Hungária Biztosító Zrt. 154 Budapest Bajcsy-Zsilinszky út 52. Telefon: (36-1) Telefax: (36-1) 31-61