Financial Statements

Financial Results of the company 31/12/2018 31/12/2017 31/12/2016
Net operating income 16,517,262 17,057,607 16,265,031
Expected net income (loss) before tax 1,409,024 2,592,241 2,428,837
Expected provision for income tax 294,597 589,995 565,535
Net income (loss) after tax attributed to : 1,114,427 2,002,246 1,863,302
a) Equity holders of the company 1,114,427 2,002,246 1,863,302
b) Non-controlling interests - - -
Major Indicators  31/12/2018 31/12/2017 31/12/2016
Gross Premium 24,611,242 23,475,644 23,002,825
Gross Paid Claims 18,595,111 17,902,531 19,609,776
Net Paid Claims 10,369,750 10,877,033 9,907,369
Net Change of Outstanding Claims 1,174,597 151,193 16,841
Net Change of Unearned Premium Reserve (170,029) 293,443 (76,773)
Administrative Expenses 3,755,966 3,439,488 3,193,342
Investment Revenue 1,087,381 1,204,545 813,331
Major Ratios
Solvency Margin 270 % 302 % 292 %
Technical Loss Ratio 47 % 46 % 43 %
Administrtive Expense Ratio 15 % 14,6 % 13,9 %
Net Profit (Shareholders) after tax 1,114,427 2,002,246 1,863,302
Net Surplus (Policyholders) after tax 15,484 369,830

451,001