CIG Pannónia Életbiztosító : 2022 Annual report - consolidated

CIG PANNONIA LIFE INSURANCE PLC.

CONSOLIDATED FINANCIAL STATEMENTS AND CONSOLIDATED BUSINESS REPORT FOR THE YEAR 2022, PREPARED ACCORDING TO THE INTERNATIONAL FINANCIAL REPORTING STANDARDS ACCEPTED BY THE EUROPEAN UNION

Contents

Consolidated Financial Statements

Consolidated Statement of Comprehensive Income Consolidated Statement of Financial Position

Consolidated Statement of Changes in Shareholders'

Equity

Consolidated Statement of Cash Flows Notes to consolidated Financial Statements

Consolidated Business Report

CIG PANNONIA LIFE INSURANCE

PLC.

Consolidated Financial Statements for the

year 2022, prepared according to the

International Financial Reporting Standards accepted by the European Union

28 March 2023

1

Consolidated Statement of Comprehensive Income

										Data in THUF
				Notes			2022			2021 (restated)
	Gross written premium						32 346 280			22 845 318
Changes in unearned premiums reserve					- 734 265		- 157 355
	Earned premiums, gross						31 612 015			22 687 963
Ceded reinsurance premiums					- 3 847 317		- 502 078
	Earned premiums, net			8			27 764 698			22 185 885
	Premium and commission income from investment			9			105 045			147 397
	contracts
Commission and profit sharing due from reinsurers	10		1 554 451		60 438
	Other investment income			11			482 849			11 615 317
Interest income calculated using the effective	11		1 101 953		475 232
interest method
	Yield on investment accounted for using equity			11			481 663			808 075
	method(profit)
Other operating income	12		803 149		1 112 802
	Other income						4 529 110			14 219 261
	Total income						32 293 808			36 405 146
Claim payments and benefits, claim settlement	13		- 16 128 623		- 15 464 577
costs
	Recoveries, reinsurer's share			13			750 397			146 813
Net changes in value of the life technical reserves	14		- 1 986 852		- 11 964 327
and unit-linked life insurance reserves
	Investment expenses			11			- 3 059 555			- 240 309
Impairment and impairment reversal of financial	11		- 6 319			- 14 036
assets
	Change in the fair value of liabilities relating to			39			178 470			- 436 814
	investment contracts
Investment expenses, changes in reserves					- 20 252 482			- 27 973 250
and benefits, net
Fees, commissions and other acquisition costs	15		- 7 040 064		- 4 153 658
	Other operating costs			16			- 2 550 630			- 2 256 014
Other expenses	17		- 1 084 691		- 238 427
	Operating costs						- 10 675 385			- 6 648 099
	Result from assets held for sale						-			2 718
	Profit/Loss before taxation						1 365 941			1 786 515
Tax income/expenses	18		- 275 379		- 192 437
	Deferred tax income/expenses			18			117 015			87 797
	Profit/Loss after taxation						1 207 577			1 681 875
Comprehensive income, wouldn't be reclassified to	19		- 602 294		- 574 917
profit or loss in the future
	Comprehensive income, would be reclassified to			19			- 3 206 981			- 1 800 481
	profit or loss in the future
	Other comprehensive income						- 3 809 275			- 2 375 398
										-
	Total comprehensive income						- 2 601 698			- 693 523

0

Consolidated Statement of Comprehensive Income - cont'd

								Data in THUF
		Note			2022			2021
						(restated)
Profit/loss after taxation attributable to the Company's		1 207 577		1 675 065
shareholders
Profit/loss after taxation attributable to NCI					-			6 810
Profit/Loss after taxation					1 207 577			1 681 875

Note

2022

2021

Other comprehensive income attributable to the		- 3 809 275	- 2 375 398
Company's shareholders
Other comprehensive income attributable to NCI		-	-

Other comprehensive income

- 3 809 275	- 2 375 398

Total comprehensive income attributable to the		- 2 601 698	- 700 333
Company's shareholders
	Total comprehensive income to NCI				-			6 810
	Total comprehensive income				- 2 601 698			- 693 523

Earnings per share

Basic earnings per share (HUF)	20	12,9
Diluted earnings per share (HUF)	20	12,8

17,8

17,7

1