21.1 Deferred acquisition costs – non-life insurance

Changes in deferred acquisition costs in non-life insurance1 January – 31 December 20131 January – 31 December 2012
Net value – opening balance 512 890 504 458
Deferred acquisition costs 571 978 538 880
Amortization for the period (538 131) (529 086)
Exchange differences (261) (1 362)
Net value – closing balance 546 476 512 890