Cosmos Insurance Company Public LTD

Interim / Quarterly Report • Sep 22, 2023

INTERIM CONDENSED STATEMENT OF PROFIT AND LOSS ACCOUNT AND OTHER TOTAL INCOME for the period from 1 January 2023 to 30 June 2023

for the period from 1 January 2023 to 30 June 2023		Adjusted
	1/1/2023 –	1/1/2022 –
	30/6/2023	30/6/2022
	€	€
Insurance income	9.547.018	9.925.187
Insurance services expenses	(7.295.415)	(6.571.051)
Insurance services result from insurance policies issued	2.251.603	3.354.136
Allocation of reinsurance premiums paid	(2.390.608)	(3.057.090)
Recoverable amounts from reinsurers	1.143.955	858.831
Net expenses from reinsurance policies held	(1.246.653)	(2.198.259)
Insurance services result	1.004.950	1.155.877
Net income/(expenses) from investments	166.501	(804.740)
Financial (expenses)/insurance income from insurance policies issued	(200.767)	462.712
Financial income/reinsurance (expenses) from reinsurance policies held	39.789	(77.086)
Net financial insurance result	(160.978)	385.626
Net insurance and investment result	1.010.473	736.763
Other income	144.810	107.597
Other expenses	(375.724)	(374.499)
Profit before taxation	779.559	469.861
Taxation	3.949	(21.156)
Profit for the period	783.508	448.705
Other comprehensive income
Income not to be reclassified to profit or loss in subsequent periods
Revaluation of immovable property for own use	-	-
Deferred taxation in revaluation	-	-
Other total comprehensive income	-	-
Total income for the period attributable to Company owners	783.508	448.705
Basic and fully diluted profit per share (cents)	1.387	0.79

COSMOS INSURANCE PUBLIC COMPANY LTD

INTERIM STATEMENT OF FINANCIAL POSITION as at 30 JUNE 2023

		Adjusted	Adjusted
	30 June	31 December	1 January
	2023	2022	2022
		€	€
ASSETS
Cash and cash equivalents	2.127.739	2.043.657	1.592.876
Investments at fair value through profit and loss	11.526.516	10.360.887	10.113.719
Current tax claims	9.151	9.151	9.151
Assets of reinsurance policies	3.756.387	3.854.356	4.375.853
Other debtors and prepayments	2.114.598	2.290.786	2.238.708
Investment property	5.663.000	5.855.000	5.919.000
Deferred tax claims	323.497	318.698	356.983
Property and equipment	4.573.543	4.560.928	4.523.373
Intangible assets	3.657	55	1.906
Total assets	30.098.088	29.293.518	29.131.569
EQUITY
Capital and Reserves
Share capital	1.129.671	1.129.671	1.129.671
Share premium reserve	2.907.588	2.907.588	2.907.588
Other reserves	5.606.792	4.857.284	3.598.836
Total equity	9.644.051	8.894.543	7.636.095
LIABILITIES
Bank overdraft	129.197	50.782	8.751
Current tax liabilities	41.628	189.100	4.319
Other creditors and accrued costs	1.606.726	1.382.686	1.742.900
Insurance policies liabilities	18.462.165	18.562.086	19.503.456
Deferred tax liabilities	214.321	214.321	236.048
Total liabilities	20.454.037	20.398.975	21.495.474
Total equity and liabilities	30.098.088	29.293.518	29.131.569

COSMOS INSURANCE PUBLIC COMPANY LTD

INTERIM STATEMENT OF CASH FLOWS

for the period from 1 January 2023 to 30 June 2023

1/1/2023- 1/1/2022- 30/6/2023 30/6/2022 Operating activities € € Profit for the period before taxation 779.559 469.958 Adjustments for: Depreciation 82.974 76.958 Change in the fair value of shares and securities (177.369) 781.034 (Profit)/loss from sale of shares and securities (2.680) 19.387 Loss/(profit) from sale of property for investment 4.162 (2.179) Interest expense 38.363 38.874 Interest income (17.621) (15.359) Profit from operations before changes in working capital 707.388 1.368.576 Decrease in insurance policies liabilities (99.921) (1.083.538) Decrease in reinsurance policies assets 97.969 678.331 Increase in other debtors and prepayments 172.110 96.560 Increase/(decrease) in other creditors and accrued expenses 234.214 (127.840) Cash flows from operations 1.111.760 932.089 Income tax paid (112.422) (4.978) Special defence contribution and GESY paid in deemed profits (69.900) - Net cash flow from operating activities 929.438 927.111 Investing activities Purchase of property and equipment (94.937) (56.221) Purchase on intangible assets (4.254) - Proceeds from sale of property for investment 187.838 15.179 Purchase of investments at fair value through profit and loss (4.360.694) (1.714.882) Proceeds from disposal and maturity of financial investments 3.375.114 1.014.206 Interest received 21.699 24.918 Net cash flow for investing activities (875.234) (716.799) Financing activities Interest paid (37.507) (38.160) Repayments of liability capital from leases (11.030) (10.200) Net cash flow for financing activities (48.537) (48.360) Net increase in cash and cash equivalents 5.667 161.952 Cash and cash equivalents at beginning of period 1.992.875 1.584.125 Cash and cash equivalents at end of period 1.998.542 1.746.077		Adjusted

COSMOS INSURANCE PUBLIC HOLDINGS PUBLIC LTD

INTERIM STATEMENT OF CHANGES IN EQUITY for the period from 1 January 2023 to 30 June 2023

	Share capital €	Share premium reserve €	Revaluation reserve €	Capital decrease reserve €	Revenue reserve €	Total €
Balance as at 1 January 2022	1.129.671	2.907.588	3.226.741	4.017.655	(1.660.716)	9.720.942
Impact from retrospective
application of IFRS 17	-	-	-	-	(2.084.847)	(2.084.847)
Adjusted balance as at 1 January
2022	1.129.671	2.907.588	3.226.741	4.017.655	(3.745.563)	7.636.095
Total income
Profit for the year	-	-	-	-	448.705	448.705
Other total income
Land and buildings
Revaluation profit after taxation	-	-	-	-	-	-
Total income for the period	-	-	-	-	448.705	448.705
Balance as at 30 June 2022	1.129.671	2.907.588	3.326.744	4.017.655	(3.296.858)	8.084.800
Balance as at 31 December 2022 Impact from retrospective	1.129.671	2.907.588	3.447.331	4.017.655	(1.408.838)	10.093.407
application of IFRS 17	-	-	-	-	(1.198.864)	(1.198.864)
Adjusted balance as at 31
December 2022	1.129.671	2.907.588	3.447.331	4.017.655	(2.607.702)	8.894.543
Total income
Profit for the period	-	-	-	-	783.508	783.508
Other total income
Land and buildings
Revaluation profit after taxation	-	-	-	-	-	-
Total income for the period	-	-	-	-	783.508	783.508
Transactions with shareholders
Provision for deemed distribution
of dividend for the profit of 2021	-	-	-	-	(34.000)	(34.000)
Total transactions with
shareholders	-	-	-	-	(34.000)	(34.000)
Balance as at 30 June 2023	1.129.671	2.907.588	3.447.331	4.017.655	(1.858.194)	9.644.051