Financial Statements

Financial Results of the company 31/12/2019 31/12/2018 31/12/2017
Net operating income 16,887,624 16,517,262 17,057,607
Expected net income (loss) before tax 1,633,317 1,409,024 2,592,241
Expected provision for income tax 452,401 294,597 589,995
Net income (loss) after tax attributed to : 1,180,916 1,114,427 2,002,246
a) Equity holders of the company 1,180,916 1,114,427 2,002,246
b) Non-controlling interests - - -
Major Indicators  31/12/2019 31/12/2018 31/12/2017
Gross Premium 24,333,936 24,611,242 23,475,644
Gross Paid Claims 19,209,504 18,595,111 17,902,531
Net Paid Claims 11,733,026 10,369,750 10,877,033
Net Change of Outstanding Claims (735,076) 1,174,557 151,193
Net Change of Unearned Premium Reserve (182,608) (170,029) 293,443
Administrative Expenses 4,074,433 3,755,966 3,439,488
Investment Revenue 1,178,725 1,087,381 1,204,545
Major Ratios
Solvency Margin 294% 270 % 302 %
Technical Loss Ratio 45% 47 % 46 %
Administrtive Expense Ratio 16.7% 15 % 14,6 %
Net Profit (Shareholders) after tax 1,180,916 1,114,427 2,002,246
Net Surplus (Policyholders) after tax 85,425 15,484

369,830