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Property & Casualty Insurance Key Figures

Profit before taxes

Formula shown in connection with the Group key figures.

Return on equity (at fair values), %

Formula shown in connection with the Group key figures.

Risk ratio, %

+ claims incurred
- claims settlement expenses
_________________________________________________________________________________________ x 100 %
premiums earned

Cost ratio, %

+ operating expenses
+ claims settlement expenses
_________________________________________________________________________________________ x 100 %
premiums earned

Loss ratio, %

claims incurred
_________________________________________________________________________________________ x 100 %
premiums earned

Loss ratio excl. unwinding of discount, %

claims incurred before unwinding of discount
_________________________________________________________________________________________ x 100 %
premiums earned

Expense ratio, %

operating expenses
_________________________________________________________________________________________ x 100 %
premiums earned

Combined ratio, %

Loss ratio + expense ratio

Combined ratio excl. unwinding of discount, %

Loss ratio before unwinding of discount + expense ratio

Solvency capital (IFRS)

+ equity after proposed profit distribution
± valuation differences on investment
- intangible assets
+ subordinated loans
- deferred tax liability probably realised in near future
+ other required items (Ministry of Finance decree)

Solvency capital, % of technical provision (IFRS)

solvency capital
_________________________________________________________________________________________ x 100 %
+ liabilities for insurance and investment contracts
- reinsurers' share of insurance liabilities

Solvency ratio (IFRS), %

solvency capital
_________________________________________________________________________________________ x 100 %
premiums earned from 12 months

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