UNCONSOLIDATED UNAUDITED
QUARTERLY REPORT,
FOR THE PERIOD
1 January 2021 - 31 December 2021
Zagreb, February 2022
CONTENT | ||
I. | UNAUDITED FINANCIAL STATEMENTS............................................................................. | 3 |
STATEMENT OF COMPREHENSIVE INCOME .................................................................................. | 4 | |
STATEMENT OF FINANCIAL POSITION (BALANCE SHEET)........................................................... | 6 | |
STATEMENT OF CHANGES IN EQUITY ............................................................................................. | 8 | |
STATEMENT OF CASH FLOWS - indirect method........................................................................... | 9 | |
II. | QUARTERLY MANAGEMENT REPORT .............................................................................. | 10 |
III. NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD I-XII 2021.... | 15 | |
MANAGEMENT BOARD STATEMENT ...................................................................................... | 26 |
- UNAUDITED FINANCIAL STATEMENTS
Annex 1
ISSUER'S GENERAL DATA
Reporting period: | 1.1.2021 | to | 31.12.2021 |
Year:2021
Quarter:4
Quarterly financial statements
Registration number (MB): | 03276147 | Issuer's home Member | HR | ||||
State code: | |||||||
Entity's registration | 080051022 | ||||||
number (MBS): | |||||||
Personal identification | 26187994862 | LEI: | 74780000M0GHQ1VXJU20 | ||||
number (OIB): | |||||||
Institution | 199 | ||||||
code: | |||||||
Name of the issuer: CROATIA osiguranje d.d.
Postcode and town: | 10 000 | ZAGREB |
Street and house number: Vatroslava Jagića 33
E-mail address: info@crosig.hr
Web address: www.crosig.hr
Number of employees | 2321 |
(end of the reporting | |
Consolidated report: | KN | (KN-notconsolidated/KD-consolidated) | ||
Audited: | (RN-notaudited/RD-audited) | |||
RN | ||||
Names of subsidiaries (according to IFRS): | Registered office: | MB: |
Bookkeeping firm: | No | (Yes/No) |
(name of the bookkeeping firm)
Contact person: Jelena Matijević
(only name and surname of the contact person) Telephone: 072 00 1884
E-mailaddress: izdavatelji@crosig.hr
Audit firm:
(name of the audit firm)
Certified auditor:
(name and surname)
3
STATEMENT OF COMPREHENSIVE INCOME
(STATEMENT OF PROFIT OR LOSS) For the period: 1.1.2021 - 31.12.2021
in HRK | ||||||||
ADP | Same period of the previous year | Current year | ||||||
Item | ||||||||
code | ||||||||
Life | Non-life | Total | Life | Non-life | Total | |||
1 | 2 | 3 | 4 | 5(3+4) | 6 | 7 | 8(6+7) | |
I Earned premiums (ADP 119 to 123) | 118 | 453.368.816 | 2.045.516.759 | 2.498.885.575 | 443.785.158 | 2.155.278.399 | 2.599.063.557 | |
1 | Gross written premium | 119 | 453.598.194 | 2.288.220.230 | 2.741.818.424 | 444.014.654 | 2.451.749.552 | 2.895.764.206 |
2 | Value adjustment and charged premium value adjustment | 120 | 0 | 2.775.347 | 2.775.347 | 0 | 15.076.135 | 15.076.135 |
3 | Outward reinsurance premiums (-) | 121 | -72.479 | -248.703.784 | -248.776.263 | -72.243 | -278.232.701 | -278.304.944 |
4 | Change of gross provisions for unearned premiums (+/-) | 122 | -153.175 | -13.289.226 | -13.442.401 | -157.253 | -49.978.876 | -50.136.129 |
5 | Change of provisions for unearned premiums, reinsurers' share (+/-) | 123 | -3.724 | 16.514.192 | 16.510.468 | 0 | 16.664.289 | 16.664.289 |
II Income from investments (ADP 125 to 131) | 124 | 141.183.338 | 245.380.705 | 386.564.043 | 99.319.691 | 295.307.927 | 394.627.618 | |
1 | Income from branches, associates and joint ventures. | 125 | 2.103.298 | 23.594.252 | 25.697.550 | 3.583.367 | 61.798.901 | 65.382.268 |
2 | Income from investment in land and buildings | 126 | 0 | 28.494.465 | 28.494.465 | 0 | 42.025.451 | 42.025.451 |
3 | Interest income | 127 | 88.370.335 | 91.126.147 | 179.496.482 | 85.717.193 | 83.268.580 | 168.985.773 |
4 | Unrealised gains on investments | 128 | 280.468 | 3.756.462 | 4.036.930 | 1.942.070 | 19.030.321 | 20.972.391 |
5 | Realised gains on investments | 129 | 20.090.027 | 69.738.695 | 89.828.722 | 8.073.469 | 56.216.172 | 64.289.641 |
6 | Net positive exchange rate differences | 130 | 30.327.779 | 6.864.874 | 37.192.653 | 0 | 0 | 0 |
7 | Other income from investments | 131 | 11.431 | 21.805.810 | 21.817.241 | 3.592 | 32.968.502 | 32.972.094 |
III Income from commissions and fees | 132 | 2.100.261 | 39.477.927 | 41.578.188 | 1.874.557 | 36.541.824 | 38.416.381 | |
IV Other insurance-technical income, net amount from reinsurance | 133 | 441.516 | 30.605.116 | 31.046.632 | 944.147 | 27.605.551 | 28.549.698 | |
V Other income | 134 | 846 | 9.017.435 | 9.018.281 | 1 | 12.827.462 | 12.827.463 | |
VI Claims incurred, net (ADP 136 + 139) | 135 | -482.361.296 | -1.200.100.950 | -1.682.462.246 | -413.578.267 | -1.132.870.252 | -1.546.448.519 | |
1 Claims settled (ADP 137+138) | 136 | -449.163.260 | -1.167.191.486 | -1.616.354.746 | -413.766.028 | -1.182.570.496 | -1.596.336.524 | |
1.1 Gross amount (-) | 137 | -449.163.260 | -1.270.466.176 | -1.719.629.436 | -413.766.028 | -1.409.225.490 | -1.822.991.518 | |
1.2 Reinsurers' share (+) | 138 | 0 | 103.274.690 | 103.274.690 | 0 | 226.654.994 | 226.654.994 | |
2 Change in the provision for claims (+/-) (ADP 140+141) | 139 | -33.198.036 | -32.909.464 | -66.107.500 | 187.761 | 49.700.244 | 49.888.005 | |
2.1 Gross amount | 140 | -33.198.036 | -277.744.085 | -310.942.121 | 187.761 | 209.898.839 | 210.086.600 | |
2.3 Reinsurers' share | 141 | 0 | 244.834.621 | 244.834.621 | 0 | -160.198.595 | -160.198.595 | |
VII Change in mathematical provision and other technical provisions, | 142 | -48.505.070 | 22.976.061 | -25.529.009 | -95.547.136 | -15.408.776 | -110.955.912 | |
net of reinsurance (ADP 143+146) | ||||||||
1 Change in mathematical provisions (+/-) (ADP 144+145) | 143 | -48.505.070 | 6.599.519 | -41.905.551 | -95.547.136 | 4.755.518 | -90.791.618 | |
1.1 Gross amount (-) | 144 | -48.495.303 | 6.599.519 | -41.895.784 | -95.555.500 | 4.755.518 | -90.799.982 | |
1.2 Reinsurers' share (+) | 145 | -9.767 | 0 | -9.767 | 8.364 | 0 | 8.364 | |
2 Change in other technical provisions, net of reinsurance (+/-) (ADP | 146 | 0 | 16.376.542 | 16.376.542 | 0 | -20.164.294 | -20.164.294 | |
147+148) | ||||||||
2.1 Gross amount (-) | 147 | 0 | 16.376.542 | 16.376.542 | 0 | -20.164.294 | -20.164.294 | |
2.2 Reinsurers' share (+) | 148 | 0 | 0 | 0 | 0 | 0 | 0 | |
VIII Change of special provision for life assurance where | ||||||||
policyholders bear the investment risk, net of reinsurance (+/-)(ADP | 149 | 44.416.501 | 0 | 44.416.501 | 44.865.715 | 0 | 44.865.715 | |
150+151) | ||||||||
1 Gross amount (-) | 150 | 44.416.501 | 0 | 44.416.501 | 44.865.715 | 0 | 44.865.715 | |
3 Reinsurers' share (+) | 151 | 0 | 0 | 0 | 0 | 0 | 0 | |
IX Cash payments for bonuses and rebates, net of reinsurance (ADP | 152 | 0 | -5.277.788 | -5.277.788 | 0 | -5.316.985 | -5.316.985 | |
153+154) | ||||||||
1 Performance-dependent (bonuses) | 153 | 0 | -5.277.788 | -5.277.788 | 0 | -5.316.985 | -5.316.985 | |
2 Performance-independent (rebates) | 154 | 0 | 0 | 0 | 0 | 0 | 0 |
4
STATEMENT OF COMPREHENSIVE INCOME
(STATEMENT OF PROFIT OR LOSS) For the period: 1.1.2021 - 31.12.2021
in HRK | ||||||||
Item | ADP | Same period of the previous year | Current year | |||||
code | Life | Non-life | Total | Life | Non-life | Total | ||
1 | 2 | 3 | 4 | 5(3+4) | 6 | 7 | 8(6+7) | |
X Operating expenses (business expenditures), net (ADP 156+160) | 155 | -65.446.336 | -799.044.691 | -864.491.027 | -54.779.933 | -875.718.038 | -930.497.971 | |
1 Acquisition costs (ADP 157 to 159) | 156 | -28.951.976 | -448.794.543 | -477.746.519 | -22.765.013 | -511.372.989 | -534.138.002 | |
1.1 Commission | 157 | -7.464.637 | -248.858.271 | -256.322.908 | -6.024.293 | -278.271.016 | -284.295.309 | |
1.2 Other acquisition costs | 158 | -21.487.339 | -182.176.164 | -203.663.503 | -16.740.720 | -221.748.690 | -238.489.410 | |
1.3 Change in deferred acquisition costs | 159 | 0 | -17.760.108 | -17.760.108 | 0 | -11.353.283 | -11.353.283 | |
2 Administration expenses (administrative costs) (ADP 161 to 163) | 160 | -36.494.360 | -350.250.148 | -386.744.508 | -32.014.920 | -364.345.049 | -396.359.969 | |
2.1 Depreciation | 161 | -3.241.179 | -53.822.008 | -57.063.187 | -2.607.131 | -56.408.732 | -59.015.863 | |
2.2 Salaries, taxes and contributions from/on salaries | 162 | -15.326.618 | -116.008.796 | -131.335.414 | -12.832.249 | -116.878.801 | -129.711.050 | |
2.3 Other administration expenses | 163 | -17.926.563 | -180.419.344 | -198.345.907 | -16.575.540 | -191.057.516 | -207.633.056 | |
XI Investment expenses (ADP 165 to 171) | 164 | -16.810.586 | -100.387.576 | -117.198.162 | -15.378.640 | -76.080.111 | -91.458.751 | |
1 Depreciation of land and buildings not occupied by an undertaking for | 165 | 0 | 0 | 0 | 0 | 0 | 0 | |
its own activities | ||||||||
2 Interest | 166 | -1.280.485 | -9.369.907 | -10.650.392 | -1.074.347 | -10.649.415 | -11.723.762 | |
3 Impairment of investments | 167 | -1.013.854 | -6.741.194 | -7.755.048 | 0 | -2.425.582 | -2.425.582 | |
4 Realised loss on investments | 168 | -9.667.064 | -24.903.404 | -34.570.468 | -3.766.324 | -14.049.330 | -17.815.654 | |
5 Unrealised loss on investments | 169 | -2.079.253 | -8.691.697 | -10.770.950 | -702.467 | -10.552.706 | -11.255.173 | |
6 Net negative exchange rate differences | 170 | 0 | 0 | 0 | -7.998.369 | -5.611.937 | -13.610.306 | |
7 Other investment expenses | 171 | -2.769.930 | -50.681.374 | -53.451.304 | -1.837.133 | -32.791.141 | -34.628.274 | |
XII Other technical expenses, net of reinsurance (ADP 173+174) | 172 | -707.601 | -37.967.306 | -38.674.907 | -1.015.246 | -37.924.476 | -38.939.722 | |
1 Expenses of preventive activities | 173 | 0 | 0 | 0 | 0 | 0 | 0 | |
2 Other technical expenses of insurance | 174 | -707.601 | -37.967.306 | -38.674.907 | -1.015.246 | -37.924.476 | -38.939.722 | |
XIII Other activities, including value adjustments | 175 | -9.233 | -3.726.536 | -3.735.769 | -10.242 | -2.074.797 | -2.085.039 | |
XIV Profit or loss for the accounting period before tax (+/-) | (ADP | 176 | 27.671.156 | 246.469.156 | 274.140.312 | 10.479.805 | 382.167.728 | 392.647.533 |
118+124+132 to 135+142+149+152+155+164+172+175) | ||||||||
XV Profit or loss tax (ADP 178+179) | 177 | -4.904.042 | -39.646.997 | -44.551.039 | -1.682.853 | -56.851.399 | -58.534.252 | |
1 Current tax expense | 178 | -4.652.721 | -38.036.452 | -42.689.173 | -2.030.911 | -60.271.625 | -62.302.536 | |
2 Deferred tax expense (income) | 179 | -251.321 | -1.610.545 | -1.861.866 | 348.058 | 3.420.226 | 3.768.284 | |
XVI Profit or loss for the accounting period after tax (+/-) (ADP | 180 | 22.767.114 | 206.822.159 | 229.589.273 | 8.796.952 | 325.316.329 | 334.113.281 | |
176+177) | ||||||||
1 Attributable to owners of the parent | 181 | 0 | 0 | 0 | 0 | 0 | 0 | |
2 Attributable to non-controlling interest | 182 | 0 | 0 | 0 | 0 | 0 | 0 | |
XVII TOTAL INCOME (ADP 118+124+132+133+134+179) | 183 | 596.843.456 | 2.368.387.397 | 2.965.230.853 | 546.271.612 | 2.530.981.389 | 3.077.253.001 | |
XVIII TOTAL EXPENSES (ADP | 184 | -574.076.342 | -2.161.565.238 | -2.735.641.580 | -537.474.660 | -2.205.665.060 | -2.743.139.720 | |
135+142+149+152+155+164+172+175+178) | ||||||||
IX Other comprehensive income (ADP 186 to 193) | 185 | -3.802.028 | -40.648.486 | -44.450.514 | -29.064.411 | 176.771.421 | 147.707.010 | |
1 Gains/losses arising from translation of financial statements relating to | 186 | 0 | -107.321 | -107.321 | 0 | 52.637 | 52.637 | |
foreign operations | ||||||||
2 Gains/losses arising from the revaluation of financial assets available | 187 | -4.636.620 | -49.176.408 | -53.813.028 | -35.444.404 | 215.535.783 | 180.091.379 | |
for sale | ||||||||
3 Gains/losses arising from the revaluation of land and buildings | 188 | 0 | -264.037 | -264.037 | 0 | -25.071 | -25.071 | |
occupied by an undertaking for its own activities | ||||||||
4 Gains/losses arising from the revaluation of other tangible (other than | 189 | 0 | 0 | 0 | 0 | 0 | 0 | |
land and property) and intangible assets | ||||||||
5 Effects of cash flow hedging instruments | 190 | 0 | 0 | 0 | 0 | 0 | 0 | |
6 Actuarial gains/losses on pension plans with defined pensions | 191 | 0 | 0 | 0 | 0 | 0 | 0 | |
7 Share in other comprehensive income of associates | 192 | 0 | 0 | 0 | 0 | 0 | 0 | |
8 Income tax on other comprehensive income | 193 | 834.592 | 8.899.280 | 9.733.872 | 6.379.993 | -38.791.928 | -32.411.935 | |
XX Total comprehensive income (ADP 180 +185) | 194 | 18.965.086 | 166.173.673 | 185.138.759 | -20.267.459 | 502.087.750 | 481.820.291 | |
1 Attributable to owners of the parent | 195 | 0 | 0 | 0 | 0 | 0 | 0 | |
2 Attributable to non-controlling interests | 196 | 0 | 0 | 0 | 0 | 0 | 0 | |
XXI Reclassification adjustments | 197 | 0 | 0 | 0 | 0 | 0 | 0 |
5
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Croatia osiguranje dd published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 15:47:32 UTC.