Annual report 2023
BALANCE SHEET 31 December 2023
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Statistical code
Alfa Vienna Insurance Group Biztosító Zrt.
Assets
HUF million
| Description | Previous year | Current year | |||
| Total | Life | Non-Life | Other, unallocated | Total | |
| a | b | c | d | e | |
| A. Intangible assets | 9,231 | 4,380 | 4,173 | 65 | 8,618 |
| B. Investments | 178,394 | 122,961 | 66,292 | 0 | 189,253 |
| I. Real estate | 1,990 | 0 | 1,875 | 0 | 1,875 |
| of which: self-occupied real estate | 1,990 | 0 | 1,875 | 0 | 1,875 |
| II. Investments in affiliated undertakings | 3,082 | 0 | 2,545 | 0 | 2,545 |
| 1. Equity investments in parent companies and subsidiaries | 3,082 | 0 | 2,545 | 0 | 2,545 |
| 2. Debt securities issued by, and loans to, parent company and subsidiaries | 0 | 0 | 0 | 0 | 0 |
| 3. Equity investments in joint companies | 0 | 0 | 0 | 0 | 0 |
| 4. Debt securities issued by, and loans to, joint companies | 0 | 0 | 0 | 0 | 0 |
| III. Other investments | 173,322 | 122,961 | 61,872 | 0 | 184,833 |
| 1. Equity investments in undertakings with which the insurance undertaking is linked by virtue of a significant participating interest | 1,801 | 1,576 | 434 | 0 | 2,010 |
| 2. Debt securities (except II/2. and II/4.) | 171,107 | 121,055 | 61,438 | 0 | 182,493 |
| 3. Participation in investment pools | 0 | 0 | 0 | 0 | 0 |
| 4. Loans guaranteed by mortgages (except II/2. and II/4. and III/5.) | 0 | 0 | 0 | 0 | 0 |
| 5. Other loans (except II/2. and II/4. and III/4.) | 414 | 330 | 0 | 0 | 330 |
| 6. Deposits with credit institutions | 0 | 0 | 0 | 0 | 0 |
| 7. Other investments | 0 | 0 | 0 | 0 | 0 |
| IV. Deposits with ceding undertakings | 0 | 0 | 0 | 0 | 0 |
| V. Revaluation of investments | 0 | 0 | 0 | 0 | 0 |
| VI: Investment valuation difference | 0 | 0 | 0 | 0 | 0 |
| C. Investments for the benefit of unit-linked life insurance policyholders | 73,679 | 93,079 | 0 | 0 | 93,079 |
| D. Debtors | 5,368 | 1,621 | 5,300 | 0 | 6,921 |
| I. Debtors arising out of direct insurance operations | 4,112 | 941 | 3,657 | 0 | 4,598 |
| 1. Policyholders | 3,344 | 792 | 3,242 | 0 | 4,034 |
| of which: a) affiliated undertakings | 0 | 0 | 0 | 0 | 0 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| 2. Claims on insurance intermediaries | 197 | 149 | 12 | 0 | 161 |
| of which: a) affiliated undertakings | 0 | 0 | 0 | 0 | 0 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| 3. Other debtors arising out of direct insurance activity | 571 | 0 | 403 | 0 | 403 |
| of which: a) affiliated undertakings | 0 | 0 | 0 | 0 | 0 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| II. Debtors arising out of reinsurance operations | 102 | 82 | 572 | 0 | 654 |
| of which: a) affiliated undertakings | 0 | 0 | 0 | 0 | 0 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| III. Reinsurers’ share of the life assurance reserve | 0 | 0 | 0 | 0 | 0 |
| IV. Other debtors | 1,154 | 598 | 1,071 | 0 | 1,669 |
| of which: a) affiliated undertakings | 337 | 0 | 338 | 0 | 338 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| V. Debtors valuation difference | 0 | 0 | 0 | 0 | 0 |
| VI. Derivatives valuation difference | 0 | 0 | 0 | 0 | 0 |
| E. Other assets | 4,710 | 1,404 | 11,447 | 0 | 12,851 |
| 1. Tangible assets (other than land and buildings), inventories | 1,394 | 234 | 2,109 | 0 | 2,343 |
| 2. Cash at bank and in hand | 3,316 | 1,170 | 9,338 | 0 | 10,508 |
| 3. Repurchased own shares | 0 | 0 | 0 | 0 | 0 |
| 4. Other | 0 | 0 | 0 | 0 | 0 |
| F. Prepayments and accrued income | 8,824 | 7,910 | 5,062 | 0 | 12,972 |
| 1. Accrued interest and rent | 2,614 | 1,796 | 1,500 | 0 | 3,296 |
| 2. Deferred acquisition costs | 3,173 | 3,484 | 0 | 0 | 3,484 |
| 3. Other prepayments and accrued income | 3,037 | 2,630 | 3,562 | 0 | 6,192 |
| Total assets | 280,206 | 231,355 | 92,274 | 65 | 323,694 |
| Budapest, 28 May 2024 | ……………………………………… Budapest, 28 May 2024 Chief Executive Officer |
| ……………………………………… Gábor Zsigri Chief Actuary |
……………………………………… Krisztián Varga Chief Accounting Officer |
BALANCE SHEET 31 December 2023
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Statistical code
Alfa Vienna Insurance Group Biztosító Zrt.
Statistical code
HUF million
| Description | Previous year | Current year | |||
| Total | Life | Non-Life | Other, unallocated | Total | |
| a | b | c | d | e | |
| A. Capital and reserves | 40,142 | 16,618 | 22,676 | 53 | 39,347 |
| I. Subscribed capital | 6,374 | 3,633 | 2,741 | 0 | 6,374 |
| of which: repurchased participation at nominal value | 0 | 0 | 0 | 0 | 0 |
| II. Subscribed capital not yet paid up (-) | 0 | 0 | 0 | 0 | 0 |
| III. Capital reserve | 5,472 | 3,119 | 2,353 | 0 | 5,472 |
| IV. Retained earnings (+/-) | 17,946 | 5,596 | 16,132 | 15 | 21,743 |
| V. Restricted reserve | 886 | 333 | 520 | 0 | 853 |
| VI. Revaluation reserve | 0 | 0 | 0 | 0 | 0 |
| 1. Reserve of revaluation | 0 | 0 | 0 | 0 | 0 |
| 2. Reserve of fair value | 0 | 0 | 0 | 0 | 0 |
| Of which: to the policyholders | 0 | 0 | 0 | 0 | 0 |
| VII. Net Profit | 9,464 | 3,937 | 930 | 38 | 4,905 |
| B. Subordinated liabilities | 0 | 0 | 0 | 0 | 0 |
| C. Technical provisions | 147,722 | 110,283 | 53,237 | 0 | 163,520 |
| 1. Provision for unearned premiums [a) + b)] | 17,628 | 187 | 17,878 | 0 | 18,065 |
| a) gross amount | 17,802 | 254 | 20,482 | 0 | 20,736 |
| b) reinsurance amount (-) | 174 | 67 | 2,604 | 0 | 2,671 |
| 2. Actuarial provisions | 98,945 | 102,810 | 7,532 | 0 | 110,342 |
| a) life assurance premium provision [aa)+ab)] | 92,662 | 102,810 | 0 | 0 | 102,810 |
| aa). gross amount | 92,662 | 102,810 | 0 | 0 | 102,810 |
| of which: reinsurance amount | 0 | 0 | 0 | 0 | 0 |
| ab). reinsurance amount (risk insurance) (-) | 0 | 0 | 0 | 0 | 0 |
| b) health insurance premium provisions [ba)+bb)] | 0 | 0 | 0 | 0 | 0 |
| ba). gross amount | 0 | 0 | 0 | 0 | 0 |
| bb). reinsurance amount | 0 | 0 | 0 | 0 | 0 |
| c) accident insurance annuity provision | 6 | 0 | 6 | 0 | 6 |
| ca). gross amount | 6 | 0 | 6 | 0 | 6 |
| cb). reinsurance amount (-) | 0 | 0 | 0 | 0 | 0 |
| d) liability insurance annuity provision [da)+db)] | 6,277 | 0 | 7,526 | 0 | 7,526 |
| da). gross amount | 6,690 | 0 | 7,833 | 0 | 7,833 |
| db). reinsurance amount (-) | 413 | 0 | 307 | 0 | 307 |
| 3. Claims outstanding [a)+b)] | 29,618 | 6,670 | 26,704 | 0 | 33,374 |
| a) case by case [aa)+ab)] | 22,671 | 5,986 | 19,866 | 0 | 25,852 |
| aa) gross amount | 23,655 | 6,052 | 23,518 | 0 | 29,570 |
| ab) reinsurance amount (-) | 984 | 66 | 3,652 | 0 | 3,718 |
| b) IBNR provision [ba)+bb)] | 6,947 | 684 | 6,838 | 0 | 7,522 |
| ba) gross amount | 6,969 | 698 | 7,894 | 0 | 8,592 |
| bb) reinsurance amount (-) | 22 | 14 | 1,056 | 0 | 1,070 |
| 4. Premium reimbursement provisions [a)+b)] | 103 | 84 | 41 | 0 | 125 |
| a) Profit-dependent [aa)+ab)] | 35 | 0 | 35 | 0 | 35 |
| aa) gross amount | 35 | 0 | 35 | 0 | 35 |
| ab) reinsurance amount (-) | 0 | 0 | 0 | 0 | 0 |
| b) Profit-independent [ba)+bb)] | 68 | 84 | 6 | 0 | 90 |
| ba) gross amount | 68 | 84 | 6 | 0 | 90 |
| bb) reinsurance amount (-) | 0 | 0 | 0 | 0 | 0 |
| 5. Equalisation provision | 0 | 0 | 0 | 0 | 0 |
| 6. Other provisions [a)+b)+c)] | 1,428 | 532 | 1,082 | 0 | 1,614 |
| a) Large claims provisions | 0 | 0 | 0 | 0 | 0 |
| b) Cancellation provisions [ba)+bb)] | 705 | 454 | 459 | 0 | 913 |
| ba) gross amount | 706 | 454 | 460 | 0 | 914 |
| bb) reinsurance amount (-) | 1 | 0 | 1 | 0 | 1 |
| c) Other technical provisions [ca)+cb)] | 723 | 78 | 623 | 0 | 701 |
| ca) gross amount | 723 | 78 | 623 | 0 | 701 |
| cb) reinsurance amount (-) | 0 | 0 | 0 | 0 | 0 |
| D. Technical provisions for unit-linked life assurance policyholders (1+2) | 73,679 | 93,079 | 0 | 0 | 93,079 |
| 1) gross amount | 73,679 | 93,079 | 0 | 0 | 93,079 |
| 2) reinsurance amount (-) | 0 | 0 | 0 | 0 | 0 |
| E. Specific provisions | 2,420 | 1,661 | 1,022 | 0 | 2,683 |
| 1. Provisions for contingent liabilities | 2,330 | 1,582 | 1,022 | 0 | 2,604 |
| 2. Provisions for future expenses | 90 | 79 | 0 | 0 | 79 |
| 3. Other provisions | 0 | 0 | 0 | 0 | 0 |
| F. Deposits received from reinsurers | 0 | 0 | 0 | 0 | 0 |
| G. Creditors | 11,113 | 5,021 | 14,252 | 0 | 19,273 |
| I. Creditors arising out of direct insurance operations | 7,673 | 1,806 | 6,106 | 0 | 7,912 |
| of which: a) affiliated undertakings | 0 | 0 | 0 | 0 | 0 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| II. Creditors arising out of reinsurance operations | 379 | 173 | 1,734 | 0 | 1,907 |
| of which: a) affiliated undertakings | 0 | 0 | 1,103 | 0 | 1,103 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| III. Creditors arising out of bond issues | 0 | 0 | 0 | 0 | 0 |
| of which: a) affiliated undertakings | 0 | 0 | 0 | 0 | 0 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| IV. Credits | 0 | 0 | 0 | 0 | 0 |
| of which: a) affiliated undertakings | 0 | 0 | 0 | 0 | 0 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| V. Other creditors | 3,061 | 3,042 | 6,412 | 0 | 9,454 |
| of which: a) affiliated undertakings | 533 | 33 | 545 | 0 | 578 |
| b) undertakings with which an insurance undertaking is linked by virtue of significant participating interests | 0 | 0 | 0 | 0 | 0 |
| c) undertakings with which an insurance undertaking is linked by virtue of participating interests | 0 | 0 | 0 | 0 | 0 |
| VI. Creditors valuation difference | 0 | 0 | 0 | 0 | 0 |
| VII. Derivatives valuation difference | 0 | 0 | 0 | 0 | 0 |
| H. Accruals and deferred income | 5,130 | 4,693 | 1,087 | 0 | 5,792 |
| 1. Accrued income | 1 | 2 | 0 | 0 | 2 |
| 2. Accrued costs and expenditure | 5,122 | 4,691 | 1,080 | 12 | 5,783 |
| 3. Deferred income | 7 | 0 | 7 | 0 | 7 |
| Total liabilities and equity | 280,206 | 231,355 | 92,274 | 65 | 323,694 |
| Budapest, 28 May 2024 | ……………………………………… Péter Zatykó Chief Executive Officer |
| ……………………………………… Gábor Zsigri Chief Actuary |
……………………………………… Krisztián Varga Chief Accounting Officer |
PROFIT AND LOSS ACCOUNT 31 December 2023
| 1 | 0 | 3 | 8 | 9 | 3 | 9 | 5 | 6 | 5 | 1 | 1 | 1 | 1 | 4 | 0 | 1 |
Statistical code
Alfa Vienna Insurance Group Biztosító Zrt.
HUF million
| Description | Previous year, total | Current year, total |
| A) Non-life insurance business | a | b |
| 01. Earned premiums, net of reinsurance | 103,320 | 109,106 |
| a) gross premiums written | 109,260 | 127,430 |
| a) gross premiums written | 3,497 | 17,934 |
| c) change in the gross provision for unearned premiums (+/-) | 2,343 | 2,873 |
| d) change in the provision for unearned premiums, reinsurers’ share (+/-) | 100 | -2483 |
| 02. Profit from investments to be returned to policyholders (same as C/06.) | 0 | 0 |
| 03. Other technical income | 516 | 427 |
| 04. Claims incurred | 43,297 | 48,566 |
| a) claims paid and claim settlement expenses | 41,402 | 45,777 |
| aa) claim payments | 38,230 | 42,433 |
| 1. gross amount | 38,325 | 47,310 |
| 2. reinsurers’ share (-) | 95 | 4,877 |
| ab) claim settlement expenses | 3,725 | 4,272 |
| ac) income from claim recovery and claim settlement expense reimbursement (-) | 553 | 928 |
| b) changes in the provision for claims outstanding (+/-) | 1,895 | 2,789 |
| ba) case-by-case | 2,030 | 2,186 |
| 1. gross amount | 2,199 | 4,923 |
| 2. reinsurers’ share (-) | 169 | 2,737 |
| bb) IBNR | -135 | 603 |
| 1. gross amount | -140 | 1,649 |
| 2. reinsurers’ share (-) | -5 | 1,046 |
| 05. Changes in actuarial provisions (+/-) | 17 | 1,249 |
| a) changes in the health insurance premium provision (+/-) | 0 | 0 |
| aa) gross amount | 0 | 0 |
| ab) reinsurers’ share (-) | 0 | 0 |
| b) changes in the accident insurance annuity provision (+/-) | 0 | 0 |
| ba) gross amount | 0 | 0 |
| bb) reinsurers’ share (-) | 0 | 0 |
| c) changes in the liability insurance annuity provisions (+/-) | 17 | 1,249 |
| ca) gross amount | 72 | 1,144 |
| cb) reinsurers’ share (-) | 55 | -105 |
| 06. Changes in the profit-dependent and profit-independent premium reimbursement provisions (+/-) | -1 | 0 |
| a) profit-dependent premium reimbursement provisions (+/-) | 0 | 0 |
| aa) gross amount | 0 | 0 |
| ab) reinsurers’ share (-) | 0 | 0 |
| b) profit-independent premium reimbursement provisions (+/-) | -1 | 0 |
| ba) gross amount | -1 | 0 |
| bb) reinsurers’ share (-) | 0 | 0 |
| 07. Changes in the equalisation provision (+/-) | 0 | 0 |
| 08. Changes in other technical provisions (+/-) | 734 | 75 |
| a) large claim provisions | 0 | 0 |
| b) cancellation provisions | 97 | 88 |
| ba) gross amount | 89 | 88 |
| bb) reinsurers’ share (-) | -8 | 0 |
| c) Changes in other technical provisions (+/-) | 637 | -13 |
| ca) gross amount | 637 | -13 |
| cb) reinsurers’ share (-) | 0 | 0 |
| 09. Net operating expenses | 34,880 | 36,585 |
| a) acquisition costs incurred in the financial year | 22,204 | 25,719 |
| b) change in deferred acquisition costs (+/-) | 0 | 0 |
| c) administrative expenses (except investment costs) | 12,736 | 13,571 |
| d) reinsurance commissions and profit participation (-) | 60 | 2,705 |
| 10. Other technical charges | 21,561 | 29,034 |
| A) INSURANCE TECHNICAL PROFIT (01+02+03-04-05-06-07-08-09-10) | 3,348 | -5,976 |
| Description | Previous year, total | Current year, total |
| B) Life assurance business | a | b |
| 01. Earned premiums, net of reinsurance | 52,839 | 58,220 |
| a) gross premiums written | 53,096 | 58,506 |
| b) outward reinsurance premiums (-) | 237 | 239 |
| c) change in the provision for unearned premiums (+/-) | 21 | 61 |
| d) change in the provision for unearned premiums, reinsurers’ share (+/-) | -1 | -14 |
| 02. Technical income from investments | 4,827 | 6,015 |
| a) income from participating interests | 0 | 0 |
| of which: derived from affiliated undertakings | 0 | 0 |
| b) income from other investments | 3,923 | 4,847 |
| of which: derived from affiliated undertakings | 0 | 0 |
| ba) income from tangible assets related to the insurance portfolio | 0 | 0 |
| bb) interest received and interest type income | 3,923 | 4,847 |
| c) gains on the realisation of investments, other investment income | 904 | 1,168 |
| d) allocated investment return transferred from life assurance (same as C/05.) (-) | 0 | 0 |
| 03. Unrealised gains on investments | 10,208 | 18,987 |
| Of which: valuation difference | 0 | 0 |
| 04. Other technical income | 30 | 36 |
| 05. Claims incurred | 22,992 | 26,214 |
| a) claims paid and claim settlement expenses | 23,218 | 25,244 |
| aa) claims paid | 22,950 | 24,901 |
| 1. gross amount | 23,049 | 24,985 |
| 2. reinsurers’ share (-) | 99 | 84 |
| ab) claim settlement expenses | 309 | 353 |
| ac) income from claim recoveries and claim settlement expense reimbursement (-) | 41 | 10 |
| b) change in the provisions for claims outstanding (+/-) (case-by-case, IBNR) | -226 | 970 |
| ba) case-by-case | 24 | 997 |
| 1. gross amount | 41 | 994 |
| 2. reinsurers’ share (-) | 17 | -3 |
| bb) IBNR | -250 | -27 |
| 1. gross amount | -247 | -25 |
| 2. reinsurers’ share (-) | 3 | 2 |
| 06. Change in actuarial provisions (+/-) | 8,892 | 10,147 |
| a) change in the life assurance premium provision (+/-) | 8,892 | 10,147 |
| aa) gross amount | 8,892 | 10,147 |
| ab) reinsurers’ share (risk insurance) (-) | 0 | 0 |
| b) change in the health insurance premium provision (+/-) | 0 | 0 |
| ba) gross amount | 0 | 0 |
| bb) reinsurers’ share (-) | 0 | 0 |
| c) change in the accident insurance annuity provision (+/-) | 0 | 0 |
| ca) gross amount | 0 | 0 |
| cb) reinsurers’ share (-) | 0 | 0 |
| 07. Change in the profit-dependent and profit-independent premium reimbursement provision (+/-) | -4 | 21 |
| a) profit-dependent premium reimbursement provisions (+/-) | 0 | 0 |
| aa) gross amount | 0 | 0 |
| ab) reinsurers’ share (-) | 0 | 0 |
| b) profit-independent premium reimbursement provisions (+/-) | -4 | 21 |
| ba) gross amount | -4 | 21 |
| bb) reinsurers’ share (-) | 0 | 0 |
| 08. Change in the equalisation provision (+/-) | 0 | 0 |
| 09. Change in other technical provisions (+/-) | -20 | 111 |
| a) large claims provisions | 0 | 0 |
| b) change in cancellation technical provisions (+/-) | -10 | 119 |
| ba) gross amount | -10 | 119 |
| bb) reinsurers’ share (-) | 0 | 0 |
| c) change in other technical provisions (+/-) | -10 | -8 |
| ca) gross amount | -10 | -8 |
| cb) reinsurers’ share (-) | 0 | 0 |
| 10. Change in UL technical provisions (+/-) | -1,405 | 19,400 |
| a) gross amount | -1,405 | 19,400 |
| b) reinsurers’ share (-) | 0 | 0 |
| 11. Net operating expenses | 12,841 | 14,112 |
| a) acquisition costs incurred in the financial year | 8,056 | 9,994 |
| b) change in deferred acquisition costs (+/-) | 334 | -312 |
| c) administrative expenses (except investment costs) | 4,451 | 4,430 |
| d) reinsurance commissions and profit participation (-) | 0 | 0 |
| 12. Technical expenditure arising from investments | 1,705 | 692 |
| a) operating and maintenance charges on investments, including interests paid and interest type expenditure | 570 | 470 |
| b) value adjustment on investments, value re-adjustments on investments (+/-) | 0 | 0 |
| c) losses on the realisation of investments, other investment expenditure | 1,135 | 222 |
| 13. Unrealised losses on investments | 17,090 | 5,550 |
| Of which: valuation difference | 0 | 0 |
| 14. Other technical charges | 2,052 | 3,220 |
| B) INSURANCE TECHNICAL PROFIT (01+02+03+04-05-06-07-08-09-10-11-12-13-14) | 3,761 | 3,791 |
| Description | Previous year total | Current year total |
| C) Non-technical accounts | 2,890 | 7,489 |
| 01. Dividends and profit sharing received | 2,600 | 1,900 |
| of which: derived from affiliated undertakings | 2,600 | 1,900 |
| of which: revaluation difference | 0 | 0 |
| 02. Interest received and interest type incomes | 4,082 | 6,301 |
| of which: derived from affiliated undertakings | 0 | 0 |
| 03. Income from tangible assets related to the insurance portfolio | 321 | 313 |
| 04. Gains on the realisation of investments, other investment income | 4,546 | 3,321 |
| 05. Allocated investment return transferred from life assurance (same as B/02/d)) | 0 | 0 |
| 06. Profit from investment to be returned to policyholders (-) (same as A/02.) | 0 | 0 |
| 07. Operating and maintenance charges on investments, including interest paid and interest type expenditure | 1,538 | 470 |
| of which: revaluation difference | 0 | 0 |
| 08. Value adjustments and re-adjustments on investments (+/-) | 418 | 234 |
| 09. Losses on the realisation of investments, other investment expenditure | 5,368 | 786 |
| 10. Other income | 3,191 | 2,555 |
| 11. Other expenditure | 4,526 | 5,411 |
| D) ORDINARY PROFIT FROM OPERATIONS (+/-A+/-B+01+02+03+04+05-06-07-08-09+10-11) | 9,999 | 5,304 |
| 12. Extraordinary income | 0 | 0 |
| 13. Extraordinary expenditure | 0 | 0 |
| 14. Extraordinary profit (12-13) | 0 | 0 |
| E) PROFIT BEFORE TAXATION (+/-D+/-14) | 9,999 | 5,304 |
| 15. Tax liability | 535 | 399 |
| F) NET PROFIT (+/-E-15) | 9,464 | 4,905 |
| Budapest, 28 May 2024 | ……………………………………… Péter Zatykó Chief Executive Officer |
| ……………………………………… Gábor Zsigri Chief Actuary |
……………………………………… Krisztián Varga Chief Accounting Officer |