Consolidated statement of profit or loss [1]
Consolidated statement of profit or loss | Note | 1 January - 31 December 2015 | 1 January - 31 December 2014 (restated) 1) |
Gross written premiums | 11 [2] | 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 [3] | 242,799 | 350,764 |
Net investment income | 13 [4] | 1,571,268 | 1,704,649 |
Net result on realization and impairment losses on investments | 14 [5] | (223,239) | 427,147 |
Net change in the fair value of assets and liabilities measured to fair value | 15 [6] | 391,248 | 515,111 |
Other operating income | 16 [7] | 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 [8] | (11,857,102) | (11,541,708) |
Interest expense | 18 [9] | (117,433) | (147,285) |
Acquisition costs | 19 [10] | (2,376,305) | (2,147,024) |
Administrative costs | 20 [11] | (1,657,878) | (1,527,699) |
Other operating expenses | 22 [12] | (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 [13],34 [14] | 4,348 | (1,525) |
Profit before tax | 2,943,733 | 3,691,693 | |
Income tax | 23 [15] | (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 [16] | 863,523,000 | 863,519,4902) |
Basic and diluted profit (loss) per one ordinary share (in PLN) | 24 [16] | 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 [17].
2) Comparatives were restated, taking into consideration the new number of shares, after the split described in Note 43.1 [18].