annual report 2016 | aegon · pdf fileannual report 2016 éves jelentés 2015 ......

Éves jelentés 2016

Annual report 2016


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Annual report 2016

Annual report 2016CONSOLIDATED BALANCE SHEET 31 December 2016

1 0 3 8 9 3 9 5 6 5 1 1 1 1 4 0 1

Statistical code

AEGON Magyarország Általános Biztosító Zrt.

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Annual report 2008


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Kapcsolat:

06-1-477-4800

[email protected]

DescriptionPrevious

yearCurrent year

Total Life Non-lifeOther,

unallocatedTotal

a b c d e

A. Intangible assets 4,425 1,063 1,972 1,601 4,636

B. Investments 178,125 69,943 36,822 77,445 184, 210

I. Real estate 2,020 0 1,922 4 1,926

of which: self-occupied real estate 2,020 0 1,922 4 1,926

II. Investments in affiliatedundertakings

0 -1,199 1,199 0 0

1. Equity investments in parentcompanies and subsidiaries

0 -1,199 1,199 0 0

2. Debt securities issued by, andloans to, parent company andsubsidiaries

0 0 0 0 0

3. Equity investments in joint andassociated companies

0 0 0 0 0

4. Debt securities issued by, andloans to, joint companies

0 0 0 0 0

III. Other investments 176,105 71,142 33,701 77,441 182,284

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1. Equity investments inundertakings with which theinsurance undertaking is linked byvirtue of a participating interest

6,999 3,666 5,610 66 9,342

2. Debt securities (except II/2. andII/4.)

95,691 66,993 28,091 13,584 108,668

3. Participation in investment pools 0 0 0 0 0

4. Loans guaranteed by mortgages(except II/2. and II/4. and III/5.)

71,845 0 0 63,058 63,058

5. Other loans (except II/2. and II/4.and III/4.)

1,570 483 0 733 1,216

6. Deposits with credit institutions 0 0 0 0 0

7. Other investments 0 0 0 0 0

IV. Deposits with cedingundertakings

0 0 0 0 0

V. Revaluation of investments 0 0 0 0 0

VI. Investment valuation difference 0 0 0 0 0

VII. Capital consolidation related tosubsidiaires and associatedundertakings

0 0 0 0 0

C. A Investments for the benefitof unit-linked life assurancepolicyholders

83,114 76,029 0 0 76,029




D. Debtors 6,914 852 1,650 2,039 4,541

I. Debtors arising out of directinsurance operations 1,133 546 1,260 12 1,818

1. Policyholders 1,076 532 1,068 0 1,600

of which: a) affiliated undertakings 0 0 0 0 0

b) undertakings with which aninsurance undertaking is linked byvirtue of significant participatinginterests

0 0 0 0 0

c) undertakings with which aninsurance undertaking is linked byvirtue of participating interests

0 0 0 0 0

2. Claims on insuranceintermediaries

32 14 41 12 67



0 0 0 0 0


0 0 0 0 0

3. Other debtors arising out of directinsurance activity

25 0 151 0 151






0 0 0 0 0


0 0 0 0 0

II. Debtors arising out ofreinsurance operations

3 2 4 0 6



0 0 0 0 0


0 0 0 0 0

III. Reinsurers’ share of the lifeassurance premium reserve

0 0 0 0 0

IV. Other debtors 5,778 304 386 2,027 2,727






0 0 0 0 0


0 0 0 0 0

V. Corporate income tax receivablearising from consolidation(computed)

0 0 0 0 0

VI. Derivates valuation difference 0 0 0 0 0

VII. Corporate income taxreceivable arising fromconsolidation (computed)

0 0 0 0 0

E. Other assets 5,850 499 3,244 2,862 6,605

1. Tangible assets (other than landand buildings), inventories

1,725 181 885 1,132 2,198

2. Cash at bank and in hand 4,125 318 2,359 1,730 4,407

3. Repurchased own shares 0 0 0 0 0

4. Other 0 0 0 0 0

F. Prepayments and accruedincome

8,727 6,308 1,376 505 8,189

1. Accrued interest and rent 1,500 1,075 388 281 1,744




2. Deferred acquisition costs 5,307 4,425 0 0 4,425

3. Other prepayments and accruedincome

1,920 808 988 224 2,020

Total assets 287,155 154,694 45,064 84,452 284,210

Budapest, 10 April 2017 .............................................Péter Zatykó

Chief Executive Officer

.............................................Gábor ZsigriChief Actuary

.............................................Krisztián Varga

Chief Accounting Officer

CONSOLIDATED BALANCE SHEET, 31 December 2016

1 0 3 8 9 3 9 5 6 5 1 1 1 1 4 0 1

Statistical code


Liabilities and equity HUF million

DescriptionPrevious

yearCurrent year

Total Life Non-lifeOther,

unallocatedTotal




a b c d e

A. Capital and reserves 33,806 12,619 12,587 10,123 35,329

I. Subscribed capital 6,374 3,633 2,741 0 6,374

of which: repurchased participationat nominal value

0 0 0 0 0

II. Subscribed capital no yet paidup (-)

0 0 0 0 0

III. Capital reserve 5,472 3,118 2,353 0 5,471

IV. Retained earnings (+/-) 37,584 2,287 5,584 30,029 37,900

V. Restricted reserve 705 237 632 0 869

VI. Revaluation reserve 0 0 0 0 0

1. Reserve of revaluation 0 0 0 0 0

2. Fair value reserve 0 0 0 0 0

of witch: to the policyholders 0 0 0 0 0

VII. Profit for the financial year (+/-) 13,115 3,344 1,277 8,902 13,523

VIII. Changes in the equity ofsubsidiaries (+/-)

-29,444 0 0 -28,808 -28,808

IX. Changes resulting fromconsolidation (+/-)

0 0 0 0 0




- from differential of debtconsolidation

0 0 0 0 0

- from differential of interim profits 0 0 0 0 0

X. Participation of externalmembers (other owners)

0 0 0 0 0

B. Subordinated liabilities 68 0 0 68 68

B/1. Differential of debtconsolidation in subsidiaries

68 0 0 68 68

C. Technical provisions 82,854 58,356 28,172 0 86,528

1. Provision for unearnedpremiums [a) + b)]

4,716 65 5,389 0 5,454

a) gross amount 4,760 103 5,418 0 5,521

b) reinsurance amount (-) 44 38 29 0 67

2. Actuarial provisions 60,125 54,044 7,368 0 61,412

a) life assurance premiumprovision [aa)+ab)]

52,823 54,044 0 0 54,044

aa) gross amount 52,823 54,044 0 0 54,044

of which: reinsurance amount 0 0 0 0 0

ab). reinsurance amount (riskinsurance) (-)

0 0 0 0 0




b) health insurance premiumprovisions (1+

0 0 0 0 0

ba). gross amount 0 0 0 0 0

bb). reinsurance amount 0 0 0 0 0

c) accident insurance annuityprovision

12 0 11 0 11

ca). gross amount 12 0 11 0 11

cb). reinsurance amount (-) 0 0 0 0 0

d) liability insurance annuityprovision (1+2)

7,290 0 7,357 0 7,357

da). gross amount 7,816 0 7,764 0 7,764

db) reinsurance amount (-) 526 0 407 0 407

3. Claims outstanding [a)+b)] 17,487 3,933 15,112 0 19,045

a) case-by-case provisions[aa)+ab)]

12,143 3,463 9,514 0 12,977

aa) gross amount 12,653 3,477 9,869 0 13,346

ab) reinsurance amount (-) 510 14 355 0 369

b) IBNR 5,344 470 5,598 0 6,068

ba) gross amount 5,369 481 5,622 0 6,103

bb) reinsurance amount (-) 25 11 24 0 35




4. Profit-dependent and profit-independent premiumreimbursement provisions [a)+b)]

47 6 44 0 50

a) Profit-dependent 34 0 35 0 35

aa) gross amount 34 0 35 0 35

ab) reinsurance amount (-) 0 0 0 0 0

b) profit-independent 13 6 9 0 15

ba) gross amount 13 6 9 0 15

bb) reinsurance amount (-) 0 0 0 0 0

5. Equalisation provision 115 0 115 0 115

6. Other technical provisions[a)+b)+c)]

364 308 144 0 452

a) Large claim provisions 21 0 21 0 21

b) Cancellation provisions[ba)+bb)]

152 138 123 0 261

ba) gross amount 165 146 143 0 289

bb) reinsurance amount (-) -13 8 20 0 28

c) other technical provision[ca)+cb)]

191 170 0 0 170

ca) gross amount 191 170 0 0 170




cb) reinsurance amount (-) 0 0 0 0 0

D. Technical provisions for unit-linked life assurancepolicyholders (1+2)

83,114 76,029 0 0 76,029

a) gross amount 83,114 76,029 0 0 76,029

b) reinsurance amount (-) 0 0 0 0 0

E. Specific provisions 765 732 0 121 853

1. Provisions for contingentliabilities

679 631 0 121 752

2. Provisions for future expenses 86 101 0 0 101

3. Other provisions 0 0 0 0 0

F. Deposits received fromreinsurers

0 0 0 0 0

G. Creditors 81,578 2,529 3,112 73,042 78,683

I. Creditors arising out of directinsurance operations

2,814 168 2,554 0 2,722



0 0 0 0 0





0 0 0 0 0

II. Creditors arising out ofreinsurance operations

239 21 189 0 210



0 0 0 0 0


0 0 0 0 0

III. Creditors arising out of bondissues

0 0 0 0 0



0 0 0 0 0


0 0 0 0 0

IV. Credits 72,485 0 0 63,750 63,750

of which: a) affiliated undertakings 72,485 0 0 63,750 63,750





0 0 0 0 0


0 0 0 0 0

V. Other creditors 6,040 2,340 369 9,292 12,001



0 0 0 0 0


0 0 0 0 0

VI. Creditors valuation difference 0 0 0 0 0

VII. Derivates valuation difference 0 0 0 0 0

VIII: Corporate income tax liabilityresulting from consolidation(computed)

0 0 0 0 0

H. Accruals and deferredincome

4,970 4,429 1,193 1,098 6,720

1. Accrued income 1 0 0 1 1




2. Accrued costs and expenditure 4,969 4,429 1,193 1,097 6,719

3. Deferred income 0 0 0 0 0

Total liabilities and equity 287,155 154,694 45,064 84,452 284,210




.............................................Krisztián Varga


CONSOLIDATED PROFIT AND LOSS ACCOUNT 31 December 2016

1 0 3 8 9 3 9 5 6 5 1 1 1 1 4 0 1

Statistical code


HUF million

DescriptionPrevious

year, totalCurrent year,

total

A) Non-life insurance business a b

01. Earned premiums, net of reinsurance 48,931 53,470




a) gross premiums written 51,399 56,140

b) outward reinsurance premiums (-) 1,857 1,925

c) change in the gross provision for unearned premiums (+/-) 618 751

d) change in the provision for unearned premiums, reinsurers’ share(+/-)

-7 -6

02. Profit from investments to be returned to policyholders (same asC/06.)

0 0

03. Other technical income 181 262

04. Claims incurred 21,761 23,939

a) claims paid and claim settlement expenses 22,691 22,733

aa) claim payments 20,143 20,360

1. gross amount 20,518 20,742

2. reinsurers’ share (-) 375 382

ab) claim settlement expenses 2,795 2,703

ac) income from claim recovery and claim settlement expensereimbursement (-)

247 330

b) changes in the provision for claims outstanding (+/-) (case-by-case, IBNR)

-930 1,206

ba) case by case -1,911 447

1) gross amount -1,880 349




2) reinsurers’ share (-) 31 -98

bb) IBNR 981 759

1) gross amount 981 783

2) reinsurers’ share (-) 0 24

05. Changes in actuarial provisions (+/-) -404 66

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 -1

ba) gross amount 0 -1

bb) reinsurers’ share (-) 0 0

c) changes in the liability insurance annuity provisions (+/-) -404 67

ca) gross amount -627 -52

cb) reinsurers’ share (-) -223 -119

06. Changes in the profit-dependent and profit-independent premiumreimbursement provisions (+/-)

-2 -1

a) profit-dependent premium reimbursement provisions (+/-) 0 0






b) profit-independent premium reimbursement provisions (+/-) 0 3

ba) gross amount 0 3


07. Changes in the equalisation provision (+/-) 0 0

08. Changes in other technical provisions (+/-) -16 12

a) large claim provisions 0 0

b) cancellation provisions -16 12

ba) gross amount -6 19

bb) reinsurers’ share (-) -10 7

c) changes in other technical provisions 0 0

ca) gross amount 0 0

cb) reinsurers’ share (-) 0 0

09. Net operating expenses 15,799 17,488

a) acquisition costs incurred in the financial year 10,054 11,460

b) change in deferred acquisition costs (+/-) 0 0

c) administrative expenses (except investment costs) 5,749 6,030

d) reinsurance commissions and profit participation (-) 4 2




10. Other technical charges 4,431 4,675

A) INSURANCE TECHNICAL PROFIT (01+02+03-04-05-06-07-08-09-10)

7,543 7,553

DescriptionPrevious


total

B) Life assurance business a b

01. Earned premiums, net of reinsurance 39,122 38,902

a) gross premiums written 39,526 39,129

b) outward reinsurance premiums (-) 412 233

c) change in the provision for unearned premiums (+/-) -8 10

d) change in the provision for unearned premiums, reinsurers’ share(+/-)

0 -16

02. Technical income from investments 3,367 2,927

a) income from participating interests 120 0

of which: derived from affiliated undertakings 0 0

b) income from other investments 3,107 2,958


ba) income from tangible assets related to the insurance portfolio, 0 0

bb) interest received and interest type income 3,106 2,958




c) gains on the realisation of investments, other investment income 140 -31

d) allocated investment return transferred from life assurance (sameas C/05.) (-)

0 0

03. Unrealised gains on investments 9,659 8,409

of which valuation difference 0 0

04. Other technical income 94 71

05. Claims incurred 35,131 34,004

a) claims paid and claim settlement expenses 35,229 33,652

aa) claims paid 35,014 33,409

1. gross amount 35,125 33,574

2. reinsurers’ share (-) 112 165

ab) claim settlement expenses 263 260

ac) income from claim recoveries and claim settlement expensereimbursement (-)

47 17

b) change in the provisions for claims outstanding (+/-) (case-by-case, IBNR)

-98 352

ba) case by case -340 386

1) gross amount -339 344

2) reinsurers’ share (-) 1 -42




DescriptionPrevious


total

Life assurance business a b

bb) IBNR 242 -34

1) gross amount 267 -48

2) reinsurers’ share (-) -25 14

06. Change in actuarial provisions (+/-) -2,288 1,222

a) change in the life assurance premium provision (+/-) -2,288 1,222

aa) gross amount -2,288 1,222

ab) reinsurers’ share (risk insurance) (-) 0 0

b) change in the health insurance premium provision (+/-) 0 0



c) change in the accident insurance annuity provision (+/-) 0 0

ca) gross amount 0 0


07. Change in the profit-dependent and profit-independent premiumreimbursement provision (+/-)

0 3

a) profit-dependent premium reimbursement provisions (+/-) 0 0






b) profit-independent premium reimbursement provisions (+/-) -3 0

ba) gross amount -3 0


08. Change in the equalisation provision (+/-) 0 0

09. Change in other technical provisions (+/-) -8 75

a) large claim provisions (+/-) 0 0

b) change in cancellation technical provisions (+/-) 17 97



c) changes in other technical provisions (-) -25 -22

ca) gross amount -25 -22


10. Change in UL technical provisions (+/-) -4,186 -7,085

a) gross amount -4,186 -7,085

b) reinsurers’ share (-) 0 0

11. Net operating expenses 10,836 11,025




a) acquisition costs incurred in the financial year 6,272 6,566

b) change in deferred acquisition costs (+/-) 1,126 883

c) administrative expenses (except investment costs) 3,438 3,581

d) reinsurance commissions and profit participation (-) 0 5

12. Technical expenditure arising from investments 347 189

a) operating and maintenance charges on investments, includinginterests paid and interest type expenditure

29 -137

b) value adjustment on investments, value re-adjustments oninvestments (+/-)

0 0

c) losses on the realisation of investments, other investmentexpenditure

318 326

13. Unrealised losses on investments 7,131 5,125

of witch: valuation difference

14. Other technical charges 1,110 1,063

B) INSURANCE TECHNICAL PROFIT (01+02+03+04-05-06-07-08-09-10-11-12-13-14)

4,169 4,688

DescriptionPrevious


total

a b

C) Non-technical accounts 2,152 1,896




01. Dividends and profit sharing received 4 12


of which: revaluation difference 0 0

02. Interest received and interest type incomes 5,693 4,697


03. Income from tangible assets related to the insurance portfolio 222 300

04. Gains on the realisation of investments, other investment income 7,040 14,476

05. Allocated investment return transferred from life assurance(same as B/02/d))

0 0

06. Profit from investment to be returned to policyholders (-) (sameas A/02.)

0 0

07. Operating and maintenance charges on investments, includinginterest paid and interest type expenditure

2,514 2,035

of which: revaluation difference 0 0

08. Value adjustments and re-adjustments on investments (+/-) 94 94

09. Losses on the realisation of investments, other investmentexpenditure

8,566 15,101

10. Other income 32,268 23,309

10/A Consolidation differential resulting from debt consolidation andincreasing the profit

0 0




11. Other expenditure 31,901 23,668

11/A Consolidation differential resulting from debt consolidation anddecreasing the profit

0 0

D) ORDINARY PROFIT FROM OPERATIONS (+/-A+/-B+01+02+03+04+05-06-07-08-09+10-11)

13,864 14,137

12. Extraordinary income 0 0

13. Extraordinary expenditure 0 0

14. Extraordinary profit (12-13) 0 0

E) PROFIT BEFORE TAXATION (+/-D+/-14) 13,864 14,137

15. Tax liability 749 614

15/A Corporate income tax differential resulting from consolidation 0 0

F) NET PROFIT (+/-E-15) 13,115 13,523




.............................................Krisztián Varga


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