Consolidated statement of profit or loss

Consolidated statement of profit or loss Note 1 January - 31 December 2015 1 January - 31 December 2014 (restated) 1)
Gross written premiums 11 18,359,044 16,884,639
Reinsurer’s share in written premiums (366,702) (349,912)
Net written premium 17,992,342 16,534,727
Change in net unearned premiums reserve (607,471) (105,357)
Net earned premiums 17,384,871 16,429,370
Revenue from commissions and fees 12 242,799 350,764
Net investment income 13 1,571,268 1,704,649
Net result on realization and impairment losses on investments 14 (223,239) 427,147
Net change in the fair value of assets and liabilities measured to fair value 15 391,248 515,111
Other operating income 16 803,432 537,633
Insurance claims and change in technical provisions (12,282,925) (11,733,228)
Reinsurers’ share in claims, benefits and change in technical provisions 425,823 191,520
Net claims and benefits 17 (11,857,102) (11,541,708)
Interest expense 18 (117,433) (147,285)
Acquisition costs 19 (2,376,305) (2,147,024)
Administrative costs 20 (1,657,878) (1,527,699)
Other operating expenses 22 (1,222,276) (907,740)
Operating profit 2,939,385 3,693,218
Share in returns of entities measured using the equity method 2.4.6.1,34 4,348 (1,525)
Profit before tax 2,943,733 3,691,693
Income tax 23 (601,537) (724,066)
Net profit, including: 2,342,196 2,967,627
- profit attributable to owners of the parent entity 2,342,355 2,967,731
- profit (loss) attributable to non-controlling interest (159) (104)
Net profit from continued operations attributable to owners of the parent entity 2,342,355 2,967,731
Net profit (loss) from discontinued operations - -
Basic and diluted weighted average number of ordinary shares in issue 24 863,523,000 863,519,4902)
Basic and diluted profit (loss) per one ordinary share (in PLN) 24 2.71 3.442)

1) Information stating the reason of restatement of data and its influence on statement of profit or loss has been presented in Note 5.1.2.
2) Comparatives were restated, taking into consideration the new number of shares, after the split described in Note 43.1.