Access America 2004 Annual Report Download - page 22

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Financial Statements
20
Financial Statements
Consolidated Income Statement of Mondial Assistance Group for the Financial Year 2004
in thousand EUR 2004 2004 2004 2003 2003
Gross Ceded For own account Gross For own account
INSURANCE AND ASSISTANCE BUSINESS
Total Turnover (Premiums and Service revenue) 1 099 713 15 151 1 084 562 995 487 974 161
Written premiums 900 466 15 151 885 315 820 185 798 859
Unearned premium reserve change (25 422) (3 553) (21 869) (10 621) (12 709)
Earned premiums 875 044 11 598 863 446 809 564 786 150
Claims paid current year (323 679) (4 874) (318 805) (307 344) (302 197)
Transferred claims administration expenses (ICHC) CY (119 984) (119 984) (112 798) (112 798)
Change in current year reserves (101 275) (8 216) (93 059) (99 408) (98 438)
Claims incurred current year (544 938) (13 090) (531 848) (519 550) (513 433)
Claims paid previous year (64 117) (1 931) (62 186) (51 327) (45 017)
Transferred claims administration expenses (ICHC) PY (7 543) (7 543) (6 247) (6 247)
Change in previous year reserves 90 590 3 156 87 434 96 074 90 681
Claims incurred previous year 18 930 1 225 17 705 38 500 39 417
Other technical income / expenses (17 940) (487) (17 453) (22 984) (22 586)
Total Claims (543 948) (12 352) (531 596) (504 034) (496 602)
Commission paid (Insurance Business) (164 270) (964) (163 306) (149 233) (143 631)
Insurance Margin 166 826 (1 718) 168 544 156 297 145 917
Service revenue 199 247 175 302
Service income deferred change (1 770) 842
Service revenue earned 197 477 176 144
Other service income / expenses (20 422) (11 087)
Commission paid (Service Business) (19 928) (18 215)
Transferred service administration expenses (ISHC) (109 172) (74 194)
Service Margin 47 955 72 648
Staff costs (258 433) (242 901)
Employee participation (3 501) (3 322)
IT costs (11 319) (9 624)
Telecommunication costs (13 072) (13 587)
Fees for group services (1 379) (1 318)
Other administration costs (120 936) (116 871)
Transfer of ICHC and ISHC 236 699 193 239
General Expenses after Transfer (171 941) (194 384)
Operating Result 44 558 24 181
FINANCIAL OPERATIONS
Income 21 093 17 553
Charges (2 648) (3 550)
Ordinary result 18 445 14 003
Realised gains 3 399 11 643
Realised losses (14 933) (15 040)
Realised result (11 534) (3 397)
Accounting profits and write-ups 6 088 10 162
Accounting losses and write-offs (17) (3 987)
Accountancy result 6 071 6 175
Exchange rate fluctuation gains 22 748 20 673
Exchange rate fluctuation losses (25 628) (20 527)
Exchange rate result (2 880) 146
Financial Result 10 102 16 927
Depreciation on intangible assets (3 343) (3 993)
Other income 136 208
Other expenses (2) (155)
Result before Tax 51 451 37 168
Taxes (27 847) (20 384)
Result after Tax 23 604 16 784
Minority interest in the results (483) (1 166)
Group Result 23 121 15 618