Statement of profit and loss
Reference Areas:
Health
Investments
Banking
Best Pratices in PZU
| Consolidated profit and loss account | Note | 1 January – 31 December 2017 | 1 January – 31 December 2016 (restated) 1) |
| Gross written premiums | 10 | 22,847 | 20,219 |
| Reinsurers’ share in gross written premium | (612) | (431) | |
| Net written premiums | 22,235 | 19,788 | |
| Movement in net provision for unearned premiums | (881) | (1,163) | |
| Net earned premium | 21,354 | 18,625 | |
| Revenue from commissions and fees | 11 | 2,341 | 817 |
| Net investment income | 12 | 9,051 | 4,111 |
| Net result on realization and impairment losses on investments | 13 | (960) | (935) |
| Net movement in fair value of assets and liabilities measured at fair value | 14 | 411 | 335 |
| Other operating income | 15 | 1,178 | 1,336 |
| Claims, benefits and movement in technical provisions | (15,376) | (12,888) | |
| Reinsurers’ share in claims, benefits and movement in technical provisions | 435 | 156 | |
| Net insurance claims and benefits | 16 | (14,941) | (12,732) |
| Fee and commission expense | 17 | (557) | (273) |
| Interest expense | 18 | (1,365) | (697) |
| Acquisition expenses | 19 | (2,901) | (2,613) |
| Administrative expenses | 20 | (5,364) | (2,923) |
| Other operating expenses | 22 | (2,737) | (2,060) |
| Operating profit | 5,510 | 2,991 | |
| Share of the net financial results of entities measured by the equity method | 16 | (3) | |
| Profit before tax | 5,526 | 2,988 | |
| Income tax | 23 | (1,293) | (614) |
| Net profit, including: | 4,233 | 2,374 | |
| - profit attributable to the equity holders of the Parent Company | 2,910 | 1,935 | |
| - profit (loss) attributed to holders of non-controlling interest | 1,323 | 439 | |
| Weighted average basic and diluted number of common shares | 24 | 863,519,608 | 863,510,930 |
| Basic and diluted profit (loss) per common share (in PLN) | 24 | 3.37 | 2.24 |
