Profit and Loss Account - Income
for the period 1st January - 31st December 2008

HRK 20072008


Earned premiums 167,026,775 182,905,523

Premium reserve (1,879,507) (27,457,949)

Income from investments 55,536,444 35,807,208

Income from commissions
and indemnity (taxations) 45,488,778 46,151,447

Other insurance-technical income 3,647,011 33,328,962

Other income 727,683 4,464,255

TOTAL INCOME 270,547,184 275,199,446

Profit and Loss Account - Expenses
for the period 1st January - 31st December 2008

HRK 20072008


Claims incurred 98,043,150 113,039,772

Change of technical reserves
for claims 17,378,568 13,837,278

Change of other technical reserves 865,130 (1,662,214)

Premium return expenses 21,769 (50,804)

Net operating expenses 60,744,416 62,908,355

Investments charges 6,673,642 31,395,506

Other expenses
(including value adjustment) 195,266 321,032

Other technical expenses 12,216,022 297,611

TOTAL EXPENSES 196,137,963 220,086,536

Profit and Loss Account - Profit
for the period 1st January - 31st December 2008

HRK 20072008


Profit before taxation 74,409,221 55,112,910

Tax on profit (17,735,138) (11,506,086)

PROFIT AFTER TAXATION 56,674,083 43,606,824

Balance Sheet - Assets
as at 31st December 2008

HRK 20072008


Intangible assets 146,540 193,680

Tangible assets 50,855,298 49,370,285

Investments 566,585,849 587,571,625

Technical reserves - Inwards RE 97,503,668 107,643,054

Receivables (Debtors) 88,964,916 86,770,029

Other assets - cash at banks and in hand 14,602,589 40,548,283

Prepayments 143,833 95,830

ASSETS - TOTAL 818,802,693 872,192,786

Balance Sheet - Liabilities
as at 31st December 2008

HRK 20072008


Paid-up capital 116,060,800 116,060,800

Revaluation reserves 26,027,120 20,208,401

Reserves 63,227,240 68,227,240

Profit brought forward 19,393,536 22,661,330

Profit for the financial year 56,674,083 43,606,824

Technical reserves - Gross 457,107,224 506,828,819

Other reserves 2,081,129 3,834,074

Deferred and current tax liability 8,150,386 -

Other liabilities (Creditors) 69,791,321 90,555,963

Deferred income 289,854 209,335

LIABILITIES - TOTAL 818,802,693 872,192,786