Consolidated income statement

Consolidated income statementNote1 January - 31 December 20131 January - 31 December 2012
Gross written premium 33 16 480 003 16 243 131
Reinsurer’s share in the written premium   (257 037) (237 276)
Net written premium   16 222 966 16 005 855
Change in net provision for unearned premium   25 803 -615
Net earned premium   16 248 769 16 005 240
       
Revenue from commissions and fees 34 319 962 237 102
Net investment income 35 1 844 932 2 047 054
Net profit or loss on realization and impairment loss on investments 36 25 045 521 268
Net change in the fair value of assets and liabilities plus equity measured at fair value 37 618 091 1 136 407
Other operating revenue 38 491 109 588 028
       
Claims, benefits and change in technical provisions 39 (11 195 277) (12 371 298)
Reinsurers’ share in claims, benefits  and change in technical provisions   34 053 152 567
Net insurance claims and benefits   (11 161 224) (12 218 731)
       
Benefits and change in measurement of investment contracts 40 (77 715) (176 780)
Acquisition costs 41 (2 015 938) (2 000 351)
Administrative expenses 42 (1 406 480) (1 440 301)
Other operating expenses 44 (705 599) (618 738)
Operating profit (loss)   4 180 952 4 080 198
Financial expenses 45 (61 664) (41 490)
Share in net profit (loss) of entities measured using the equity method    1 404  
Gross profit (loss)   4 120 692 4 038 708
Income tax 47    
- current portion   (885 776) (568 541)
- deferred portion   60 197 (216 341)
Net profit (loss) from continuing operations   3 295 113 3 253 826
Net profit (loss), including:   3 295 113 3 253 826
- profit (loss) attributable to equity holders of the parent   3 293 654 3 255 181
- profit (loss) attributable to non-controlling interest   1 459 (1 355)
       
Net profit (loss) from continuing operations   3 293 654 3 255 181
Net profit (loss) from discontinued operations   - -
Weighted average basic and diluted number of ordinary shares   86 352 300 86 352 300
Basic and diluted profit (loss) on continuing operations per ordinary share         (in PLN)   38.14 37.7
Basic and diluted profit (loss) per ordinary share (in PLN)   38.14 37.7