in EUR

INCOME STATEMENT

Triglav Group

Zavarovalnica Triglav

2018

2017 restated*

2018

2017 restated

Net premium income

951,762,862

891,197,369

551,940,868

522,057,353

- gross written premium

1,068,394,407

999,916,626

660,210,432

621,971,336

- ceded written premium

-106,624,908

-97,550,733

-101,297,110

-93,522,581

- change in unearned premium reserve

-10,006,637

-11,168,524

-6,972,454

-6,391,402

Income from investments in subsidiaries and associates

1,021,159

224,605

5,305,545

7,106,829

- profit on equity investments accounted for using the equity method

1,021,159

224,605

0

0

- other income from investments in subsidiaries and associates

0

0

5,305,545

7,106,829

Income from investments

88,889,077

132,944,438

61,755,135

99,243,902

- interest income calculated using the effective interest method

55,573,242

58,196,582

36,890,019

38,861,704

- gains on disposals

23,777,837

29,790,480

18,521,649

25,370,295

- other income from investments

9,537,998

44,957,376

6,343,467

35,011,903

Other income from insurance operations

29,837,981

29,237,231

27,448,384

27,732,584

- fees and commission income

15,806,181

16,487,470

17,004,132

18,011,729

- other income from insurance operations

14,031,800

12,749,762

10,444,252

9,720,855

Other income

36,149,533

34,033,116

12,491,979

10,951,423

 




Net claims incurred

626,560,398

619,958,781

359,941,674

376,292,830

- gross claims settled

679,600,218

642,162,569

421,002,582

411,305,524

- reinsurers’ share

-39,988,966

-24,573,610

-37,767,613

-24,624,035

- changes in claims provisions

-19,248,552

-3,915,964

-23,293,295

-10,388,659

- equalisation scheme expenses for supplementary health insurance

6,197,698

6,285,786

0

0

Change in other insurance technical provisions (excluding ULI)

39,860,373

60,281,190

29,499,390

35,366,975

Change in insurance technical provisions for unit-linked insurance contracts

-46,889,547

-8,250,712

-50,884,979

-14,678,837

Expenses for bonuses and discounts

11,417,685

9,342,891

10,571,287

8,073,088

Change in financial contract liabilities

0

0

0

0

Operating expenses

233,637,425

220,762,633

153,008,918

145,922,909

- acquisition costs

159,245,093

147,942,412

110,230,112

105,301,136

- other operating costs

74,392,332

72,820,221

42,778,806

40,621,773

Expenses from investments in subsidiaries and associates

137,092

3,126,853

4,759

4,435

- loss on investments accounted for using the equity method

137,092

1,981,853

0

0

- other expenses from financial assets and liabilities

0

1,145,000

4,759

4,435

Expenses from investments

67,118,486

27,651,058

50,929,727

20,438,978

- loss on impairment of investments

1,497,483

335,255

1,248,877

200,000

- loss on disposal of investments

13,128,928

11,083,596

12,566,364

10,588,356

- other expenses from investments

52,492,075

16,232,207

37,114,486

9,650,622

Other insurance expenses

33,744,135

28,058,062

11,819,639

6,980,751

Other expenses

44,618,763

42,260,921

15,594,244

14,868,646

- expenses from financing

1,384,361

1,631,023

1,507,022

1,549,066

- other expenses

43,234,402

40,629,898

14,087,222

13,319,580






Profit before tax

97,455,802

84,445,082

78,457,252

73,822,316

Income tax expense

16,629,557

14,737,130

12,913,388

11,300,366

NET PROFIT FOR THE PERIOD

80,826,245

69,707,952

65,543,864

62,521,950

Earnings per share (basic and diluted)

3.56

3.07

-

-

Net profit/loss attributable to the controlling company

80,662,754

69,256,560

-

-

Net profit/loss attributable to the non-controlling interest holders

163,491

451,391

-

-

* The data for the previous reference period were reclassified due to a change in the structure of income statement.

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