CROATIA osiguranje d d : Financial report - 2021, Fourth quarter, Unrevised, Unconsolidated

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

Reporting period:

1.1.2021

to

31.12.2021

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:

Postcode and town:

10 000

ZAGREB

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)

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

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