CONSOLIDATED UNAUDITED
QUARTERLY REPORT,
FOR THE PERIOD
1 January 2022 - 31 March 2022
Zagreb, April 2022
CONTENT
I. UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS ............................................... 3
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ............................................... 4
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) ............................ 6
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY .............................................................. 8
CONSOLIDATED STATEMENT OF CASH FLOWS indirect method ............................................ 9
II. QUARTERLY MANAGEMENT REPORT .............................................................................. 10
III. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE
PERIOD I-III 2022 ....................................................................................................................... 14
MANAGEMENT BOARD STATEMENT ..................................................................................... 25
I.
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
Annex 1
ISSUER'S GENERAL DATA
Reporting period:
1.1.2022
to
31.3.2022
Year:
2022
Quarter:
1
Quarterly financial statements
Registration number (MB):
03276147
Issuer's home Member
State code:
HR
Entity's registration number
(MBS):
080051022
Personal identification number
(OIB):
26187994862
LEI:
74780000M0GHQ1VXJU20
Institution code:
199
Name of the issuer: CROATIAosiguranje d.d.
Postcode and town:
10 000
ZAGREB
Street and house number: Vatroslava Jagića 33
E-mail address:info@crosig.hr
Web address:www.crosig.hr
Number of employees (end of the reporting period):
3688
Consolidated report:
KD
(KN-not consolidated/KD-consolidated)
KN
KD
Audited:
RN
(RN-not audited/RD-audited)
RN
RD
Names of subsidiaries (according to IFRS): | Registered office: |
CROATIA PREMIUM d.o.o. | |
CORE 1 d.o.o. | |
AUTO MAKSIMIR VOZILA d.o.o. | |
CROATIA OSIGURANJE DD | |
MILENIJUM OSIGURANJE A.D. | |
CROATIA OSIGURANJE A.D. - ZA ŽIVOTNA OSIG. | SKOPJE 05920922 |
CROATIA OSIGURANJE A.D. - ZA NEŽIVOTNA OSIG. | SKOPJE 06479570 |
CROATIAOSIGURANJE MIROVINSKO DRUŠTVO D.O.O. | ZAGREB 01731742 |
RAZNE USLUGE D.O.O. - U LIKVIDACIJI | ZAGREB 01892037 |
CROATIA- TEHNIČKI PREGLEDI D.O.O. | ZAGREB 01450930 |
PBZ CROATIA OSIGURANJE DD | ZAGREB 01583999 |
CO ZDRAVLJE D.O.O. | ZAGREB 04837550 |
STRMEC PROJEKT d.o.o. | ZAGREB 02586649 |
AGROSERVIS STP d.o.o. | VIROVITICA 01233033 |
ASTORIA d.o.o. | ZAGREB 080339352 |
CO LOGISTIKAd.o.o. | ZAGREB 081353961 |
Yes | |
No | |
(name of the bookkeeping firm) |
MB:
ZAGREB 01885880
ZAGREB 04570243
ZAGREB 01804812
MOSTAR 20097647
BEOGRAD
7810318
Bookkeeping firm:
No
(Yes/No)
Contact person: Jelena Matijević
(only name and surname of the contact person)
Telephone: 072 00 1884
E-mail address:izdavatelji@crosig.hr
Audit firm:
(name of the audit firm)
Certified auditor:
(name and surname)
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(STATEMENT OF PROFIT OR LOSS)
For the period: 1.1.2022 - 31.3.2022
in HRK | |||||||
Item | ADP code | Same period of the previous year | Current year | ||||
Life | Non-life | Total | Life | Non-life | Total | ||
1 | 2 | 3 | 4 | 5(3+4) | 6 | 7 | 8(6+7) |
I Earned premiums (ADP 119 to 123) | 118 | 137.792.523 | 603.843.029 | 741.635.552 | 167.621.653 | 635.122.130 | 802.743.783 |
1 Gross written premium | 119 | 137.699.311 | 844.029.942 | 981.729.253 | 167.798.433 | 971.389.331 | 1.139.187.764 |
2 Value adjustment and charged premium value adjustment | 120 | 0 | 2.269.291 | 2.269.291 | 0 | 4.002.734 | 4.002.734 |
3 Outward reinsurance premiums (-) | 121 | -44.310 | -130.994.703 | -131.039.013 | -37.578 | -156.254.012 | -156.291.590 |
4 Change of gross provisions for unearned premiums (+/-) | 122 | 182.877 | -188.821.192 | -188.638.315 | -94.504 | -269.656.131 | -269.750.635 |
5 Change of provisions for unearned premiums, reinsurers' share (+/-) | 123 | -45.355 | 77.359.691 | 77.314.336 | -44.698 | 85.640.208 | 85.595.510 |
II Income from investments (ADP 125 to 131) | 124 | 41.304.606 | 93.868.547 | 135.173.153 | 53.247.363 | 101.623.823 | 154.871.186 |
1 Income from branches, associates and joint ventures. | 125 | 445.052 | 4.865.016 | 5.310.068 | 493.108 | 4.491.796 | 4.984.904 |
2 Income from investment in land and buildings | 126 | 71.061 | 26.221.850 | 26.292.911 | 20.235 | 27.672.440 | 27.692.675 |
3 Interest income | 127 | 25.777.411 | 22.419.828 | 48.197.239 | 25.869.585 | 20.474.693 | 46.344.278 |
4 Unrealised gains on investments | 128 | 907.087 | 4.372.368 | 5.279.455 | 841.173 | 5.932.426 | 6.773.599 |
5 Realised gains on investments | 129 | 1.863.165 | 18.049.795 | 19.912.960 | 3.776.652 | 22.231.757 | 26.008.409 |
6 Net positive exchange rate differences | 130 | 12.126.995 | 9.633.659 | 21.760.654 | 22.245.713 | 14.712.292 | 36.958.005 |
7 Other income from investments | 131 | 113.835 | 8.306.031 | 8.419.866 | 897 | 6.108.419 | 6.109.316 |
III Income from commissions and fees | 132 | 477.546 | 2.867.773 | 3.345.319 | 389.349 | 10.907.331 | 11.296.680 |
IV Other insurance-technical income, net amount from reinsurance | 133 | 46.567 | 10.157.075 | 10.203.642 | 36.722 | 7.661.769 | 7.698.491 |
V Other income | 134 | 49.494 | 34.590.346 | 34.639.840 | 75.778 | 39.534.679 | 39.610.457 |
VI Claims incurred, net (ADP 136 + 139) | 135 | -121.885.501 | -267.396.767 | -389.282.268 | -143.495.029 | -290.564.157 | -434.059.186 |
1 Claims settled (ADP 137+138) | 136 | -125.692.658 | -362.551.974 | -488.244.632 | -132.082.201 | -331.954.621 | -464.036.822 |
1.1 Gross amount (-) | 137 | -125.692.658 | -394.589.772 | -520.282.430 | -132.082.201 | -368.027.163 | -500.109.364 |
1.2 Reinsurers' share (+) | 138 | 0 | 32.037.798 | 32.037.798 | 0 | 36.072.542 | 36.072.542 |
2 Change in the provision for claims (+/-) (ADP 140+141) | 139 | 3.807.157 | 95.155.207 | 98.962.364 | -11.412.828 | 41.390.464 | 29.977.636 |
2.1 Gross amount | 140 | 3.807.157 | 87.003.488 | 90.810.645 | -11.412.828 | 45.828.981 | 34.416.153 |
2.3 Reinsurers' share | 141 | 0 | 8.151.719 | 8.151.719 | 0 | -4.438.517 | -4.438.517 |
VII Change in mathematical provision and other technical provisions, net of reinsurance (ADP 143+146) | 142 | -32.203.790 | -10.250.854 | -42.454.644 | -79.309.076 | 3.243.063 | -76.066.013 |
1 Change in mathematical provisions (+/-) (ADP 144+145) | 143 | -32.203.790 | 1.330.679 | -30.873.111 | -79.309.076 | 886.397 | -78.422.679 |
1.1 Gross amount (-) | 144 | -32.208.612 | 1.330.679 | -30.877.933 | -79.310.446 | 886.397 | -78.424.049 |
1.2 Reinsurers' share (+) | 145 | 4.822 | 0 | 4.822 | 1.370 | 0 | 1.370 |
2 Change in other technical provisions, net of reinsurance (+/-) (ADP 147+148) | 146 | 0 | -11.581.533 | -11.581.533 | 0 | 2.356.666 | 2.356.666 |
2.1 Gross amount (-) | 147 | 0 | -11.581.533 | -11.581.533 | 0 | 2.356.666 | 2.356.666 |
2.2 Reinsurers' share (+) | 148 | 0 | 0 | 0 | 0 | 0 | 0 |
VIII Change of special provision for life assurance where policyholders bear the investment risk, net of reinsurance (+/-) (ADP 150+151) | 149 | 2.958.057 | 0 | 2.958.057 | 42.777.298 | 0 | 42.777.298 |
1 Gross amount (-) | 150 | 2.958.057 | 0 | 2.958.057 | 42.777.298 | 0 | 42.777.298 |
3 Reinsurers' share (+) | 151 | 0 | 0 | 0 | 0 | 0 | 0 |
IX Cash payments for bonuses and rebates, net of reinsurance (ADP 153+154) | 152 | 0 | -3.908.947 | -3.908.947 | 0 | -4.741.148 | -4.741.148 |
1 Performance-dependent (bonuses) | 153 | 0 | -2.767.377 | -2.767.377 | 0 | -3.506.207 | -3.506.207 |
2 Performance-independent (rebates) | 154 | 0 | -1.141.570 | -1.141.570 | 0 | -1.234.941 | -1.234.941 |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(STATEMENT OF PROFIT OR LOSS)
For the period: 1.1.2022 - 31.3.2022
in HRK | |||||||
Item | ADP code | Same period of the previous year | Current year | ||||
Life | Non-life | Total | Life | Non-life | Total | ||
1 | 2 | 3 | 4 | 5(3+4) | 6 | 7 | 8(6+7) |
X Operating expenses (business expenditures), net (ADP 156+160) | 155 | -16.498.820 | -277.003.056 | -293.501.876 | -13.346.959 | -302.760.095 | -316.107.054 |
1 Acquisition costs (ADP 157 to 159) | 156 | -8.492.589 | -142.867.885 | -151.360.474 | -6.214.617 | -157.805.833 | -164.020.450 |
1.1 Commission | 157 | -2.875.066 | -79.078.235 | -81.953.301 | -3.433.729 | -100.525.837 | -103.959.566 |
1.2 Other acquisition costs | 158 | -5.617.523 | -71.770.302 | -77.387.825 | -2.780.888 | -75.397.753 | -78.178.641 |
1.3 Change in deferred acquisition costs | 159 | 0 | 7.980.652 | 7.980.652 | 0 | 18.117.757 | 18.117.757 |
2 Administration expenses (administrative costs) (ADP 161 to 163) | 160 | -8.006.231 | -134.135.171 | -142.141.402 | -7.132.342 | -144.954.262 | -152.086.604 |
2.1 Depreciation | 161 | -847.801 | -19.014.113 | -19.861.914 | -629.174 | -22.357.816 | -22.986.990 |
2.2 Salaries, taxes and contributions from/on salaries | 162 | -3.264.552 | -45.831.208 | -49.095.760 | -2.819.930 | -50.441.449 | -53.261.379 |
2.3 Other administration expenses | 163 | -3.893.878 | -69.289.850 | -73.183.728 | -3.683.238 | -72.154.997 | -75.838.235 |
XI Investment expenses (ADP 165 to 171) | 164 | -2.798.203 | -24.917.490 | -27.715.693 | -3.406.175 | -36.608.850 | -40.015.025 |
1 Depreciation of land and buildings not occupied by an undertaking for its own activities | 165 | 0 | 0 | 0 | 0 | 0 | 0 |
2 Interest | 166 | -266.019 | -2.344.340 | -2.610.359 | -155.197 | -2.922.310 | -3.077.507 |
3 Impairment of investments | 167 | 0 | -59.571 | -59.571 | 0 | -2.174.163 | -2.174.163 |
4 Realised loss on investments | 168 | -705.769 | -1.821.570 | -2.527.339 | -201.733 | -1.491.466 | -1.693.199 |
5 Unrealised loss on investments | 169 | -1.196.995 | -8.948.173 | -10.145.168 | -2.550.878 | -17.823.802 | -20.374.680 |
6 Net negative exchange rate differences | 170 | 0 | 0 | 0 | 0 | 0 | 0 |
7 Other investment expenses | 171 | -629.420 | -11.743.836 | -12.373.256 | -498.367 | -12.197.109 | -12.695.476 |
XII Other technical expenses, net of reinsurance (ADP 173+174) | 172 | -1.080.487 | -14.243.147 | -15.323.634 | -267.980 | -14.993.328 | -15.261.308 |
1 Expenses of preventive activities | 173 | 0 | -312.155 | -312.155 | 0 | -293.629 | -293.629 |
2 Other technical expenses of insurance | 174 | -1.080.487 | -13.930.992 | -15.011.479 | -267.980 | -14.699.699 | -14.967.679 |
XIII Other activities, including value adjustments | 175 | -3.576 | -125.065 | -128.641 | -2.841 | -10.371.979 | -10.374.820 |
XIV Profit or loss for the accounting period before tax (+/-) (ADP 118+124+132 to 135+142+149+152+155+164+172+175) | 176 | 8.158.416 | 147.481.444 | 155.639.860 | 24.320.103 | 138.053.238 | 162.373.341 |
XV Profit or loss tax (ADP 178+179) | 177 | -1.394.380 | -26.188.351 | -27.582.731 | -4.195.922 | -24.517.589 | -28.713.511 |
1 Current tax expense | 178 | -1.394.380 | -26.235.700 | -27.630.080 | -4.195.922 | -24.541.305 | -28.737.227 |
2 Deferred tax expense (income) | 179 | 0 | 47.349 | 47.349 | 0 | 23.716 | 23.716 |
XVI Profit or loss for the accounting period after tax (+/-) (ADP 176+177) | 180 | 6.764.036 | 121.293.093 | 128.057.129 | 20.124.181 | 113.535.649 | 133.659.830 |
1 Attributable to owners of the parent | 181 | 6.741.849 | 121.024.747 | 127.766.596 | 20.104.545 | 113.306.223 | 133.410.768 |
2 Attributable to non-controlling interest | 182 | 22.187 | 268.346 | 290.533 | 19.636 | 229.426 | 249.062 |
XVII TOTAL INCOME (ADP 118+124+132+133+134+179) | 183 | 179.670.736 | 745.374.119 | 925.044.855 | 221.370.865 | 794.873.448 | 1.016.244.313 |
XVIII TOTAL EXPENSES (ADP 135+142+149+152+155+164+172+175+178) | 184 | -172.906.700 | -624.081.026 | -796.987.726 | -201.246.684 | -681.337.799 | -882.584.483 |
IX Other comprehensive income (ADP 186 to 193) | 185 | -2.921.782 | 66.734.535 | 63.812.753 | -104.721.246 | -73.643.162 | -178.364.408 |
1 Gains/losses arising from translation of financial statements relating to foreign operations | 186 | 687.982 | 884.244 | 1.572.226 | 867.803 | 1.212.627 | 2.080.430 |
2 Gains/losses arising from the revaluation of financial assets available for sale | 187 | -5.507.824 | 80.124.129 | 74.616.305 | -126.171.031 | -92.826.009 | -218.997.040 |
3 Gains/losses arising from the revaluation of land and buildings occupied by an undertaking for its own activities | 188 | 0 | 0 | 0 | 0 | 0 | 0 |
4 Gains/losses arising from the revaluation of other tangible (other than land and property) and intangible assets | 189 | 0 | 0 | 0 | 0 | 0 | 0 |
5 Effects of cash flow hedging instruments | 190 | 0 | 0 | 0 | 0 | 0 | 0 |
6 Actuarial gains/losses on pension plans with defined pensions | 191 | 0 | 0 | 0 | 0 | 0 | 0 |
7 Share in other comprehensive income of associates | 192 | 0 | 0 | 0 | 0 | 0 | 0 |
8 Income tax on other comprehensive income | 193 | 1.898.060 | -14.273.838 | -12.375.778 | 20.581.982 | 17.970.220 | 38.552.202 |
XX Total comprehensive income (ADP 180 +185) | 194 | 3.842.254 | 188.027.628 | 191.869.882 | -84.597.065 | 39.892.487 | -44.704.578 |
1 Attributable to owners of the parent | 195 | 3.816.644 | 187.744.184 | 191.560.828 | -84.623.122 | 39.653.198 | -44.969.924 |
2 Attributable to non-controlling interests | 196 | 25.610 | 283.444 | 309.054 | 26.057 | 239.289 | 265.346 |
XXI Reclassification adjustments | 197 | 0 | 0 | 0 | 0 | 0 | 0 |
5
This is an excerpt of the original content. To continue reading it, access the original document here.