Management Board of Amplico Life First American-Polish Life Insurance and Reinsurance Company SA announced financial results obtained by the Company in 2005. Total gross premium collected in this period amounted to PLN 1 224 mln an increase of 18% against 2004.
Assets of the Company exceeded PLN 6 billion and totaled PLN 6 006 mln as for 31 December 2005. Investments amounted to PLN 5 692 mln zł., an increase of 15% versus 2004.
The gross claims and benefits paid in 2005 totaled PLN 500mln.
Gross profit totaled PLN 365 mln, an increase of 33% versus the result obtained in 2004. Net profit stood at PLN 299 mln, which is a 34% increase against 2004.
| Financial results of Amplico Life | I-XII 2004 (thousands PLN) |
I-XII 2005 (thousands PLN) |
Increase in percentage |
|---|---|---|---|
| Gross premium written | 1 037 346 | 1 224 296 | 18% |
| Gross claims and benefits paid | 363 394 | 500 156 | 38% |
| Capital stock | 11 000 | 11 000 | 0% |
| Gross technical-insurance reserves | 4 032 015 | 4 607 730 | 14% |
| Costs of insurance activity including: | 181 646 | 209 886 | 16% |
| - acquisition costs | 110 076 | 136 150 | 24% |
| - administrative costs | 98 534 | 99 424 | 0,9% |
| Gross financial result | 274 308 | 365 443 | 33% |
| Net financial result | 223 007 | 299 639 | 34% |
| Solvency margin | 184 522 | 202 643 | 9,8% |
