Cosmos Insurance Company Public LTD

CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2014

	2014	2013
	€	€

Income	19.919.540	22.304.551
	(13.117.617)	(14.539.860)
Gross earned premiums	6.801.923	7.764.691
Reinsurer's share in earned premiums Net earned premiums

Premium fees and other fees	1.450.137	1.450.505
Commissions from reinsurers	5.184.795	5.525.265
Other total income	6.634.932	6.975.770
Total income	13.436.855	14.740.461

Expenses	(5.107.054)	(5.981.116)
Compensations	(4.657.029)	(4.682.975)
Commissions payable and other selling expenses	(2.980.290)	(3.027.033)
Other operating and administrative expenses from insurance operations
Total operating and administrative expenses from insurance operations	(12.744.373)	(13.691.124)

	-
Variation in risk reserve in force		23.815
Technical insurance result	692.482	1.073.152


Income from investments	159.874	264.962
Insurance operating result	852.356	1.338.114
Investment portfolio results	100.752	(58.420)
Deficit from revaluation of investment property	(187.015)	(403.055)
	(86.263)	(461.475)

Other income	156.140	153.302
Share of profit from joint venture insurers	146.171	156.451
Other expenses	(780.381)	(930.695)
Finance cost	(86.769)	(136.185)
Administrative expenses of subsidiary	(2.996)	(13.428)
Profit before taxation	198.258	106.084
Taxation	(71.025)	(114.081)
Profit/(loss) for the year	127.233	(7.997)

Profit/(loss) for the year attributable to:-	127.011	(8.221)
Owners of the company Non	222	224
controlling interest	127.233	(7.997)


Basic and fully diluted earnings/(loss) per share (cent)	0,71	(0,05)

Property, plant and equipment	4.809.045	4.997.445
Intangible assets	335.064	388.449
Investment property	2.782.000	2.960.945
Long-term debtors	735.000	820.000
Total non-current assets	8.661.109	9.166.839
Trade and other debtors	7.490.819	8.443.247
Investments at fair value via the results	2.647.577	2.104.282
Taxation	-	60.500
Deferred acquisition costs	2.207.904	2.324.487
Reinsurers' share in technical reserves	11.910.530	11.920.997
Cash and cash equivalent	3.478.632	2.593.314
Total current assets	27.735.462	27.446.827
Total assets	36.396.571	36.613.666
EQUITY
Share capital	5.575.350	5.575.350
Share premium	163.984	163.984
Revaluation reserve	2.150.807	2.123.309
Profit and loss reserve	(1.156.711)	(1.261.828)
Total equity	6.733.430	6.600.815
LIABILITIES
Deferred taxation	428.108	444.453
Long term insurance liabilities	4.423.247	3.160.041
Total non current liabilities	4.851.355	3.604.494
Trade and other liabilities	643.114	753.839
Current installments of long term insurance liabilities	770.495	242.662
Pending claims and administrative costs reserve of claims	13.613.603	14.805.174
Unearned premiums	7.486.193	7.951.324
Taxation	28.208	-
Reinsurers' share in technical reserves	2.179.728	2.075.225
Current loan installments	90.333	423.455
Bank overdraft	112	156.678
Total current liabilities	24.811.786	26.408.357
Total liabilities	29.663.141	30.012.851
Total equity and liabilities	36.396.571	36.613.666