"Compensa Vienna Insurance Group", shareholding insurance company 304080146, Ukmergės g. 280, Vilnius, 8522444444, zydrune.kramarauskaite@compensa.lt 2016.03.31 2016.04.21 Financial statements of insurance and reinsurance activities General manager (title of manager s position) Deividas Raipa (name, surname) Chief accountant (job title of the responsible person) Žydrūnė Kramarauskaitė (name, surname)
BALANCE STATEMENT ASSETS Financial year Previous financial year No. 1 2 1 A. INTANGIBLE ASSETS 11.653.565,00 11.655.572,00 2 I. Goodwill 11.251.320,00 11.251.320,00 3 II. Software 402.245,00 404.252,00 4 III. Other intangible assets 5 B. INVESTMENTS 35.166.115 33.231.716,00 6 I. Land, buildings and other real estate 0 0,00 7 I.1. For own activities of the insurance company 0 0,00 8 I.1.1. Land 9 I.1.2. Buildings 10 I.1.3. Other 11 I.2. Investments in real estate 0 0,00 12 I.2.1. Land 13 I.2.2. Buildings 14 II. Investments in subsidiaries and affiliated undertakings 0 0,00 15 II.1. Shares of subsidiaries 16 II.2. Debt securities issued by, and loans to, subsidiaries 17 II.3. Shares of affiliated undertakings 18 II.4. Debt securities issued by, and loans to, affiliated undertakings 19 III. Other financial investments 35.166.115,00 33.231.716,00 20 III.1. Shares, other variable-yield securities and units of investment funds 0 0,00 21 III.1.1. Listed on stock exchanges 22 III.1.2. Not listed on stock exchanges 23 III.2. Debt securities and other fixed-income securities 35.166.115,00 25.898.850,00 24 III.2.1. Securities of the government, central bank and municipality 34.105.485,00 25.352.044,00 25 III.2.2. Securities of other economic entities 1.060.630,00 546.806,00 26 III.3. Loans guaranteed by mortgages 27 III.4. Other loans 28 III.5. Deposits with credit institutions 7.332.866,00 29 III.6. Derivative 30 III.7. Other investments 31 IV. Deposits with the reinsurance undertaking 32 C. OTHER LIFE INSURANCE BUSINESS INVESTMENTS 0 0,00 33 I. Investments covering life insurance where the investment risk is borne by the policyholder, technical provision 34 II. Investments covering financial liabilities where the investment risk is borne by the policyholder, technical provision 35 III. Occupational pension investment 36 D. REINSURANCE ASSETS 16.794.591,00 13.928.738,00 37 I. Provision for unearned premiums reinsurers' share 5.712.232,00 5.280.247,00 38 II. Outstanding claims technical provision reinsurers' share 11.082.359,00 8.648.491,00 39 III. Claims technical provision reinsurers' share 40 IV. Insurance rebates technical provision reinsurers' share
41 V. Other reinsurers' share of technical provisions 42 E. AMOUNTS RECEIVABLE 9.864.903,00 6.315.643,00 43 I. Amounts receivable from insurance business 8.059.938,00 5.802.698,00 44 I.1. Policyholders 6.955.295,00 4.988.385,00 45 I.2. Intermediaries 962.018,00 814.313,00 46 I.3. Other 142.625,00 47 II. Amounts receivable from reinsurance business 1.764.576,00 444.446,00 48 II.1. Ceded reinsurers 49 II.2. Reinsurers 1.764.576,00 444.446,00 50 II.3. Intermediaries 51 II.4. Other 52 III. Other receivables 40.389,00 68.499,00 53 F. OTHER ASSETS 8.511.890,00 14.067.780,00 54 I. Tangible assets and reserves 334.781,00 241.526,00 55 I.1. Vehicles 70.719,00 10.000,00 56 I.2. Office and other equipment 216.838,00 166.452,00 57 I.3. Inventories 58 I.4. Prepayments 17.850,00 59 I.5. Deferred tax assets 47.224,00 47.224,00 60 I.6. Prepaid profit tax 61 II. Cash and cash equivalents 8.177.109,00 13.826.254,00 62 III. Other assets 63 G. ACCRUED INCOME AND DEFERRED COSTS 4.897.684,00 4.899.216,00 64 I. Accrued interest and rent 404.535,00 438.127,00 65 II. Deferred acquisition costs 4.441.196,00 4.447.343,00 66 III. Other accrued income 67 IV. Other deferred costs 51.953,00 13.746,00 68 TOTAL ASSETS 86.888.748,00 84.098.665,00 69 A. CAPITAL AND RESERVES 20.590.504,00 22.695.599,00 70 I. Authorised capital 7.500.000,00 7.500.000,00 71 II. Share premium 15.200.000,00 15.200.000,00 72 III. Own shares (-) 73 IV. Revaluation reserve 444.380,00-70.573,00 74 IV.1. Intangible assets 75 IV.2. Fixed assets 76 IV.3 Financial assets 444.380,00-70.573,00 77 V. Reserves 263258 263.258,00 78 V.1. Mandatory reserve 263.258,00 263.258,00 79 V.2. Other reserves 80 VI. Retained profit (loss) of the previous year (+/ ) -197.086,00 81 VII. Retained profit (loss) of the reporting year (+/ ) -2.620.048,00-197.086,00 82 B. FINANCING (GRANTS AND SUBSIDIES) 83 C. SUBORDINATED LIABILITIES 84 D. TECHNICAL PROVISIONS 37.756.766,00 32.436.575,00 85 I. Insurance provisions 37.756.766,00 32.436.575,00
86 I.1. Provision for unearned premiums 15.950.153,00 14.527.950,00 87 I.2. Outstanding claims technical provision 21.806.613,00 17.908.625,00 88 I.3. Claims technical provision 89 I.4. Insurance rebates technical provision 90 I.5. Unexpired risk technical provision 91 I.6. Life insurance where the investment risk is borne by the policyholder, technical provision 92 I.7. Other technical provisions of insurance liabilities 93 II. Financial provisions 0 0,00 94 II.1. Financial liabilities where the investment risk is borne by the policyholder, technical provision 95 II.2. Occupational pension activities of technical provision 96 II.3. Pension Accumulation technical provision 97 II.4. Other financial liabilities technical provision 98 E. OTHER PROVISIONS 104.651,00 141.022,00 99 I. Provisions for pension and similar obligations 100 II. Provisions for taxation 101 III. Other provisions 104.651,00 141.022,00 102 F. REINSURERS DEPOSITS 14.684.735,00 12.906.962,00 103 G. LIABILITIES 13.164.919,00 15.343.152,00 104 I. Liabilities related to insurance business 3.355.885,00 4.939.313,00 105 I.1. Liabilities to policyholders 2.230.241,00 606.189,00 106 I.2. Liabilities to intermediaries 1.105.901,00 689.818,00 107 I.3. Other insurance business related liabilities 19743 3.643.306,00 108 II. Liabilities related to reinsurance business 1.333.685,00 176.061,00 109 II.1. Liabilities to ceded reinsurers 110 II.2. Liabilities to reinsurers 1.333.685,00 176.061,00 111 II.3. Įsipareigojimai tarpininkams 112 II.4. Other liabilities related to reinsurance business 113 III. Issued debt securities, separately distinguishing convertible debts 114 IV. Debt to credit institutions 47658 115 V. Derivatives 116 VI. Taxes, social insurance contributions and other liabilities 8.427.691,00 10.227.778,00 117 VI.1. Taxes 118 VI.2. Social insurance contributions 18.544,00 26.357,00 119 VI.3. Wages and salaries 73.328,00 55.305,00 120 VI.4. Other liabilities 8.335.819,00 10.146.116,00 121 I. ACCRUED COSTS AND DEFERRED INCOME 587.173,00 575.355,00 122 I. Accrued costs 587.173,00 575.355,00 123 II. Deferred income 124 TOTAL OWNERS EQUITY AND LIABILITIES 86.888.748,00 84.098.665,00
PROFIT (LOSS) STATEMENT Row. No. Items Financial year Previous financial year 1 2 1 I. EARNED PREMIUMS, NET OF REINSURANCE 4.441.407,00 0,00 2 I.1. Gross premiums written 8.799.648,00 3 I.2. Ceded reinsurance premiums -3.368.023,00 4 I.3.Change in the gross provision for unearned premiums -1.422.204,00 5 I.4. Change in the provision for unearned premiums, reinsurers share 431.986,00 6 II. AGREEMENT MANAGEMENT INCOME 7 III. CLAIMS INCURRED, NET OF REINSURANCE -4.086.072,00 0,00 8 III.1. Claims paid -3.760.310,00 9 III.2. Claims 10 III.3. Claim settlement costs -419.332,00 11 III.4. Recovered amounts 237.559,00 12 III.5. Reinsurers share 1.320.131,00 13 III.6. Outstanding claims technical provision change -3.897.988,00 14 III.7. Outstanding claims technical provision reinsurers' share of change 2.433.868,00 15 IV. BONUSES AND REBATES TECHNICAL PROVISIONS CHANGES OF REINSURANCE 16 V. CLAIMS TECHNICAL PROVISION CHANGES OF REINSURANCE 17 VI. UNEXPIRED EXCHANGE RISK TECHNICAL PROVISIONS OF REINSURANCE 18 VII. LIFE INSURANCE, WHERE THE INVESTMENT RISK IS BORNE BY POLICYHOLDERS AND TECHNICAL PROVISIONS EXCHANGE, OF REINSURANCE 19 VIII. FINANCIAL LIABILIETIES WHERE THE INVESTMENT RISK IS BORNE BY POLICYHOLDERS AND TECHNICAL PROVISIONS EXCHANGE 20 IX. OTHER TECHNICAL PROVISIONS FINANCIAL LIABILITIES EXCHANGE 21 X. OTHER TECHNICAL PROVISIONS, INSURANCE LIABILITIES CHANGES OF REINSURANCE 22 XI. NET OPERATING EXPENSES -2.775.127,00 0,00 23 XI.1. Acquisition costs -2.508.399,00 24 XI.2. Change in deferred acquisition costs -6.147,00 25 XI.3. Administrative expenses -542.001,00 26 XI.4. Reinsurance commissions and profit participation 281.420,00 27 XII. INVESTMENT INCOME 36.742,00 2.728,00 28 XII.1. Income from participating interests 29 XII.2. Income from land and buildings 30 XII.3. Income from other investments 36.742,00 2.728,00 31 XII.4. Reversal of impairment loss 32 XII.5. Gains on disposal of investments 33 XIII. INVESTMENT CHARGES -26.962,00 0,00 34 XIII.1. Investment management costs, including interest -26.962,00 0,00 35 XIII.2. Expenses for participating interests and other investments 36 XIII.3. Decrease in investment value
37 XIII.4. Loss from disposal of investments 38 XIV. PROFIT (LOSS) FROM OTHER LIFE INSURANCE INVESTMENT ACTIVITY 0,00 0,00 39 XIV.1. Profit (loss) from investments where the investment risk is borne by the policyholder 40 XIV.2. Profit (loss) from occupational pension accumulation activity 41 XV. OTHER INCOME 10.538,00 0,00 42 XV.1. Pension accrual income 43 XV.2. Financial income 44 XV.3. Other income 10.538,00 45 XVI. OTHER EXPENSES -220.574,00-247.038,00 46 XVI.1. Pension accrual expenses 47 XVI.2. Financial expenses 48 XVI.3. Other expenses -220.574,00-247.038,00 49 XVII. PROFIT (LOSS) OF THE REPORTING PERIOD BEFORE TAXES 0,00-244.310,00 50 XVIII. TAX ON PROFIT 0,00 0,00 51 XVIII.1. Reporting period income tax expense 52 XVIII.2. Deferred income tax expense (income) 47.224,00 53 XIX. PROFIT (LOSS) OF THE REPORTING PERIOD 0,00-197.086,00 54 XX. OTHER COMMON INCOME 0,00 0,00 55 XX.1. Available for sale financial assets revaluation result 56 XX.2. From a cash flow hedge 57 XX.3. Asset revaluation result 58 XX.4. Defined benefit pension plans actuarial gains (losses) 59 XX.5. Other common income 60 XXI. INCOME TAX FROM OTHER COMMON INCOME ( ) 61 XXII. OTHER COMMON INCOME LESS INCOME TAX 0,00 0,00 62 XXIII. PROFIT (LOSS) OF THE REPORTING PERIOD AND OTHER COMMON INCOME -2.620.048,00-197.086,00
CASH FLOW STATEMENT Ro w. No. Items Financial year Previous financial year 1 2 1 I. CASH FLOWS FROM OPERATING ACTIVITIES -2.784.210,00-107.168,00 2 I.1. Insurance premiums 8.572.479,00 0,00 3 I.1.1. Insurance premiums 8.572.479,00 4 I.1.2. Inward reinsurance premiums 5 I.1.3. Indėlio komponentai 6 I.2. Coinsurance premiums 0,00 0,00 7 I.2.1. Share of insurance undertakings in coinsurance premiums received 8 I.2.2. Share in coinsurance premiums received of other insurance undertakings involved in coinsurance operations 9 I.3. Amounts paid to other insurance undertakings involved in coinsurance operations 10 I.4. Amounts received from other insurance undertakings involved in coinsurance operations 11 I.5. Outward reinsurance premiums 0,00 0,00 12 I.5.1. Proportional outward reinsurance premiums 13 I.5.2. Non-proportional outward reinsurance premiums 14 I.6. Amounts paid under insurance and reinsurance contracts -7.387.957,00 0,00 15 I.6.1. Rebates upon cancellation of contracts 0,00 0,00 16 I.6.1.1. Insurance 17 I.6.1.2. Reinsurance 18 I.6.2. Claims paid -3.531.028,00 0,00 19 I.6.2.1. Insurance -3.531.028,00 20 I.6.2.2. Reinsurance 21 I.6.3. Amounts recovered by way of subrogation and salvage 0,00 0,00 22 I.6.3.1. Insurance 23 I.6.3.2. Reinsurance 24 I.6.4. Redemption values paid 0,00 0,00 25 I.6.4.1. Insurance 26 I.6.4.2. Reinsurance 27 I.6.5. Claim settlement expenses paid -3.856.929,00 0,00 28 I.6.5.1. Insurance -3.856.929,00 29 I.6.5.2. Reinsurance 30 I.6.6. Amounts paid from financial liabilities where the investment risk is borne by the policyholder, technical provision 31 I.6.7. Amounts paid from other financial liabilities, technical provision 32 I.7. Other amounts transferred to reinsurers 33 I.8. Other amounts received from reinsurers 34 I.9. Other amounts transferred to the reinsured -151.206,00 35 I.10. Other amounts received from the reinsured 36 I.11. Operating expenses paid -3.562.216,00-94.591,00 37 I.12. Taxes paid on ordinary activities -209.924,00-12.577,00 38 I.13. Amounts received from other operating activities
39 I.14. Amounts paid on other operating activities -45.386,00 40 II. CASH FLOWS FROM INVESTING ACTIVITIES -1.362.335,00-15.444.241,00 41 II.1. Amounts received from investing activities 0,00 0,00 42 II.1.1. Subsidiary and associated companies 43 II.1.2. Shares, other variable-yield securities and investment fund units 44 II.1.3. Debt and other fixed-income securities 45 II.1.4. Land 46 II.1.5. Buildings 47 II.1.6. Loans secured with mortgages 48 II.1.7. Other secured loans 49 II.1.8. Unsecured loans 50 II.1.9. Deposits in credit institutions 51 II.1.10. Other investments 52 II.2. Amounts received on maturity or realization of investments 10.445.858,00 0,00 53 II.2.1. Subsidiary and associated companies 54 II.2.2. Shares, other variable-yield securities and investment fund units 55 II.2.3. Debt securities and other fixed-income securities 10.445.858,00 56 II.2.4. Land 57 II.2.5. Buildings 58 II.2.6. Loans secured with mortgages 59 II.2.7. Other secured loans 60 II.2.8. Unsecured loans 61 II.2.9. Deposits in credit institutions 62 II.2.10. Other investments 63 II.3. Amounts paid on investment -11.808.193,00-15.444.241,00 64 II.3.1. Subsidiary and associated companies 65 II.3.2. Shares, other variable-yield securities and investment fund units 66 II.3.3. Debt securities and other fixed-income securities -12.035.582,00-12.444.241,00 67 II.3.4. Land 68 II.3.5. Buildings 69 II.3.6. Loans secured with mortgages 70 II.3.7. Other secured loans 71 II.3.8. Unsecured loans 72 II.3.9. Deposits in credit institutions -3.000.000,00 73 II.3.10. Other investments 74 II.4. Taxes paid on investing activities 75 II.5. Amounts generated from other investing activities 227.389,00 76 II.6. Amounts paid on other investing activities 77 III. CASH FLOWS FROM FINANCING ACTIVITIES -1.502.600,00 29.377.663,00 78 III.1. Amounts received on issue of ordinary and preference shares 8.000.000,00 22.700.000,00 79 III.2. Amounts paid on purchase of own shares 80 III.3. Amounts received on issue of debt securities 81 III.4. Amounts paid on redemption of debt securities 82 III.5. Loans received 83 III.6. Loans repaid
84 III.7. Dividends paid 85 III.8. Taxes paid on financial activities 86 III.9.Amounts generated from other financial activities 6.677.663,00 87 III.10. Amounts paid on other financial activities -9.502.600,00 88 IV. EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS BALANCE 89 V. INCREASE (DECREASE) IN CASH FLOWS -5.649.145,00 13.826.254,00 90 VI. CASH AND CASH EQUIVALENTS IN THE BEGINNING OF THE PERIOD 13.826.254,00 91 VII. CASH AND CASH EQUIVALENTS AS AT THE END OF THE PERIOD 8.177.109,00 13.826.254,00