| Parent company | Consolidated accounts | ||||
| 21.02.21 | 21.02.20 | 21.02.21 | 21.02.20 | ||
| Amounts in USD 000's | Notes | to 20.02.22 | to 20.02.21 | to 20.02.22 | to 20.02.21 |
| Technical account | |||||
| Gross written premium | 4, 5, 6 | 369,265 | 381,076 | 1,016,888 | 937,736 |
| Gross earned premium | 5, 6 | 365,601 | 380,685 | 964,560 | 887,651 |
| Ceded reinsurance | 6 | (239,930) | (270,502) | (201,859) | (183,438) |
| Earned premium for own account | 6 | 125,671 | 110,183 | 762,702 | 704,213 |
| Other insurance related income | 2 | 81 | 690 | 938 | |
| Gross incurred claims | 6 | 306,239 | 332,383 | 684,877 | 696,659 |
| Reinsurers' share of gross incurred claims | 6 | (159,437) | (181,575) | (55,849) | (64,829) |
| Claims incurred for own account | 6 | 146,802 | 150,808 | 629,028 | 631,830 |
| Acquisition costs | 7 | 16,014 | 10,996 | 43,723 | 35,533 |
| Agents' commission | 7 | 23,990 | 23,849 | 66,675 | 60,051 |
| Commission received | 7 | (45,345) | (51,739) | (12,496) | (19,611) |
| Insurance related expenses for own account | 7 | (5,341) | (16,894) | 97,902 | 75,973 |
| Other insurance related expenses | 7 | 3,566 | 2,710 | 11,434 | 8,026 |
| Technical result | (19,353) | (26,360) | 25,029 | (10,678) | |
| Non-technical account | |||||
| Income from investments in group companies | 5,618 | 6,671 | 0 | 0 | |
| Interest and similar income/(expenses) | 8 | (1,203) | 4,732 | 101 | 10,151 |
| Change in unrealised gain/(loss) on investments | (11,253) | 25,706 | (27,045) | 79,116 | |
| Gain on realisation of investments | 11,183 | 3,847 | 23,634 | 25,147 | |
| Other income/(expenses) | (106) | (112) | (1,405) | (1,808) | |
| Non-technical result | 4,239 | 40,843 | (4,715) | 112,606 | |
| Profit before tax | (15,114) | 14,483 | 20,314 | 101,928 | |
| Corporate income tax | 9 | (2,736) | 865 | 768 | 16,008 |
| Net result before other comprehensive income/(loss) | (12,378) | 13,618 | 19,546 | 85,920 | |
| Other comprehensive income/(loss) | |||||
| Items that will not be reclassified to profit or loss | |||||
| Remeasurement due to change in pension assumptions | 16 | (39) | (70) | (2,739) | (7,008) |
| Income tax related to change in pension assumptions | 16 | 0 | 0 | 675 | 1,736 |
| Other comprehensive loss for the period, net of tax | (39) | (70) | (2,064) | (5,273) | |
| Items that may be reclassified to profit or loss | |||||
| Exchange differences on subsidiaries | 0 | 0 | (2,137) | 3,092 | |
| Total comprehensive income | (12,417) | 13,548 | 15,345 | 83,739 | |
ANNUAL
REPORT 2022