PL and Balance sheet

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PL and Balance sheet Powered By Docstoc
					Consolidated income and expenditure account as of 20/02

MUSD                                                                    2008     2007
TECHNICAL ACCOUNT
Premiums and calls                                                      213.2    192.7
Reinsurance premiums                                                    -23.3    -20.0
Premiums for own account                                                189.9    172.6
Claims incurred for own account                                        -144.3   -137.1
Acquisition costs                                                       -22.6    -20.3
Administrative expenses                                                 -10.1     -9.2
Net operating expenses                                                  -32.7    -29.5
Balance carried to non-technical account                                12.9      6.1

NON TECHNICAL ACCOUNT
Balance from technical account                                           12.9      6.1
Net investment income                                                   -73.1      8.7
Taxes                                                                     0.9     -3.3
Balance carried to contingency reserve                                 -59.3     11.5



Balance sheet as of 20/02
MUSD                                                                    2008     2007
ASSETS
Financial investments                                                  396.8    461.4
Debtors                                                                  1.2      6.5
Other assets                                                            40.0     33.6
Prepayment and accrued income                                            3.4      3.4
Total assets                                                           441.5    504.9

LIABILITIES
Provision for outstanding claims for own account                       273.2    280.9
Contingency reserve                                                    144.0    203.5
Technical provisions for own account                                   417.1    484.4
Provisions for other liabilites                                          7.3      8.8
Creditors                                                               16.2      8.2
Accruals and deferred income                                             0.8      3.4
Total liabilities                                                      441.5    504.9

In the P&L, a relevant portion of overhead expenses are allocated to
claims-, acquisition- and investment expenses respectively.

				
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