Although retained losses considerably increased in 2009, the fact that they are surpassed by our retained premium is satisfactory. Our main goal of achieving a positive net technical result was thus attained, with our net technical result amounting to HRK 18,078,348 in 2009.

When we take into account further allocations to the technical reserves, our combined technical result totals HRK 6,669,906.

The gross premium and gross losses technical result is 62.74%.

The net (retained) premium and net (retained) losses technical result is 89.98%.

Technical result of incoming business from abroad is 53.93%.

Pure technical result
(without technical reserves) (000 HRK)




Gross reinsurance premium 482,732
Premium paid to retrocession 302,344
Retained premium 180,388



Gross paid losses 302,868
Losses collected from retrocession 140,558
Paid retained losses 162,310



Retained premium 180,388
Paid retained losses 162,310
Net technical result 18,078



RATIO OF PAID RETAINED LOSSES
AND RETAINED PREMIUM 89.98%






Combined technical result
(with technical reserves) (000 HRK)




Income
Gross reinsurance premium 482,732
Losses collected from retrocession 140,558
Total income 623,290



Expenditures
Gross paid losses 302,868
Premium paid to retrocession 302,344
Allocations to technical reserves 11,408
Total expenditures 616,620






Income623,290
Expenditures616,620




Technical result 6,670
Combined loss ratio 98.93%