Cosmos Insurance Company Public LTD

Quarterly Report • Aug 26, 2015

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT AND LOSS ACCOUNT FOR THE PERIOD FROM 1 JANUARY 2015 TO 30 JUNE 2015

Six months ended 30 June 2015 € 2014 € Income Gross earned premiums 9.490.062 10.095.184 Reinsurer's share in earned premiums {5.983.227) (6.458.232) Net earned premiums 3. 506.835 3.636.952 Premium fees and other fees 706.652 737.961 Commission from reinsurers 2.075.060 2.211.037 Total other income 2.781.712 2.948.998 Total income 6.288.547 6.585.950 Expenses Compensations (2.498.027) (2.779.411) Commissions payable and other sales expenses (2.003.175) (2.235.468) Other operating and administrative expenses from insurance operations (1.321.791) (1.385.187) Total operating and administrative expenses from insurance operations (5.822.993) (6.400.066) Technical insurance result 465.554 185.884 Income from investments 77.304 95.909 Insurance operating result 542.858 281.793 Investment portfolio results 10.759 45.068 Result from revaluation of investment property (72.000) (I 13.050) Profit after results of investing activities 481.617 213.811 Other income 100.522 83.357 Profit share from insurers' joint venture 47.194 183.207 Other expenses (314.094) (422.124) Finance costs (35.481) (50.394) Administrative expenses of dependent company (4.250) (1.711) Profit before taxation 275.508 6.146 Taxation (62.110) (31.281) Profit/(loss) for the period 213.398 (25.I35) Other total income Total income/(expenses) for the period 213.398 (25.135) Profit/(loss) for the period attributable to: Owners of the company 213. 181 (25.271) Non-controlling interest 217 136 213.398 (25.135)

Basic and fully diluted earnings/(loss) per share (cent) 1,19 (0, 14)

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2015

	30.6.2015	31.12.2014
	€	€
ASSETS
Property, plant and equipment	4.729.910	4.809.045
Intangible assets	325.061	335.064
Investment property	2.721.630	2.782.000
Long-term debtors	705.000	735.000
Total Non-Current Assets	8.481.601	8.661.109
Trade and other receivables	7.545.371	7.490.819
Investments at fair value through profit and loss	3.463.072	2.647.577
Deferred acquisition expenses	2.242.568	2.207.904
Reinsurers' share in technical reserves	11.062.421	11.910.530
Cash and cash equivalents	3.1 69.628	3.478.632
Total Current Assets	27.483.060	27.735.462
Total Assets	35.964.661	36.396.571
EQUITY
Share capital	5.575.350	5.575.350
Share premium reserve	163.984	163.984
Revaluation reserve	2.150.807	2.150.807
Profit and loss account reserve	(943.530)	(1.156.711)
Total equity	6.946.611	6.733.430
LIABILITIES
Deferred taxation	428.108	428.108
Long-term insurance liabilities	4.735.429	4.423.247
Total Non-Current Assets	5.163.537	4.851.355
Trade and other liabilities	683.695	643.114
Current instalments of long-term insurance liabilities	736.432	770.495
Pending claims and claims administrative expenses reserve	12.801.421	13.613.603
Unearned premiums	7.660.204	7.486.193
Taxation	90.137	28.208
Reinsurers' share in technical reserves	1.680.220	2.179.728
Current loan instalments	82.813	90.333
Bank overdraft	119.591	112
Total Current Liabilities	23.854.513	24.811.786
Total Liabilities	29.018.050	29.663.141
Total Equity and Liabilities	35.964.661	36.396.571

INTERIM CONDENSED CONSOLIDATED STATEMETN OF CHANGES IN EQUITY

FOR THE PERIOD FROM 1 JANUARY 2015 TO 30 JUNE 2015

		Share
	Share Capital €	premium reserve €	Revaluation reserve €	1aaccount reserve €	Total €
Balance as at 1 January 2014	5.575.350	163.984	2.123.309	(1.261.828)	6.600.815
Loss for the period				(25.271)	(25.271)
Balance as at 30 June 2014	5.575.350	163.984	2.123.309	(1.287.099)	6.575.544
Balance as at 1 January 2015	5.575.350	163.984	2.150.807	(1.156.711)	6.733.430
Profit for the period				213.181	213.181
Balance as at 30 June 2015	5.575.350	163.984	2.150.807	(943.530)	6.946.611

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD FROM 1 JANUARY 2015 TO 30 JUNE 2015

	Six months ended 30 June
	2015	2014
	€	€
Cash flow from operating activities
Profit/(loss) for the period	213.398	(25.135)
Adjustments for items not affecting cash movement	495.507	429.723
Profit from operating activities before changes in working capital	708.905	404.588
Variation in working capital	(482.216)	(425.471)
	226.689	(20.883)
Taxes paid	(140)	(153)
Net cash flow from/(for) operating activities	226.549	(21.036)
Net cash flow from investing activities	(890.150)	(42.779)
Net cash flow from financing activities	235.118	413.000
Net (decrease)/increase in cash and cash equivalents	(428.483)	349.185
Cash and cash equivalents at beginning of year	3.478.520	2.436.636
Cash and cash equivalents at end of year	3.050.037	2.785.821