The Group KD Group and KD Group dd

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The Group KD Group Annual Report 2009 Notes to Consolidated Financial Statements as at and for the year ended 31 December 2009 5.2.4 Currency risk The Group’s currency risk is not considered to be significant due to the fact that Slovenia is in the ERM2 system with fixed foreign currency rates, and the euro was introduced in Slovenia on 1 January 2007. The table below summarises the Group’s exposure to foreign currency exchange rate risk at 31 December. Included in the table are the Group’s financial assets and financial and insurance liabilities at carrying amounts, categorised by currency. 31.12.2009 (in EUR) EUR Other Total Assets Financial assets at fair value through profit or loss 35,655,676 2,417,696 38,073,372 - Equity securities 13,118,979 1,244,907 14,363,886 - Debt securities 22,536,697 1,172,789 23,709,486 Available for sale 179,454,315 10,606,908 190,061,223 - Equity securities 44,402,232 9,936,137 54,338,369 - Debt securities 135,052,083 670,771 135,722,854 Held to maturity 17,286,402 1,008,883 18,295,285 - Debt securities 17,286,402 1,008,883 18,295,285 Investment property 29,813,540 - 29,813,540 Loans and receivables 153,711,798 8,090,466 161,802,264 Investments in loans and other financial receivables 87,312,526 4,706,468 92,018,994 Insurance receivables and other receivables 56,292,858 1,588,751 57,881,609 Accruals and DAC 10,106,414 1,795,247 11,901,661 Reinsurance assets 19,427,641 21,367 19,449,008 Cash and cash equivalents 30,509,894 10,220,178 40,730,072 Total assets 465,859,266 32,365,498 498,224,764 Liabilities Debt securities (issued) 75,521,481 - 75,521,481 Loans 118,904,123 279,925 119,184,048 Derivative financial instruments 1,426,656 - 1,426,656 Insurance contracts 212,991,566 6,976,229 219,967,795 Insurance contracts with DPF 76,059,996 70,193 76,130,189 Investment contracts with DPF 17,692,461 10,793 17,703,254 Total liabilities 502,596,283 7,337,140 509,933,423 134
The Group KD Group Annual Report 2009 Notes to Consolidated Financial Statements as at and for the year ended 31 December 2009 31.12.2008 (in EUR) EUR Other Total Assets Financial assets at fair value through profit or loss 31,509,851 4,000,829 35,510,680 - Equity securities 11,847,866 4,000,829 15,848,695 - Debt securities 19,661,985 - 19,661,985 Available for sale 183,734,682 3,740,183 187,474,865 - Equity securities 64,006,977 2,831,677 66,838,654 - Debt securities 119,727,705 908,506 120,636,211 Held to maturity 6,996,697 848,012 7,844,709 - Debt securities 6,996,697 848,012 7,844,709 Investment property 28,707,587 - 28,707,587 Loans and receivables 166,429,798 14,992,009 181,421,807 Investments in loans and other financial receivables 86,251,324 11,534,356 97,785,680 Insurance receivables and other receivables 66,661,969 3,186,158 69,848,127 Accruals and DAC 13,516,505 271,495 13,788,000 Reinsurance assets 17,360,568 2,135 17,362,703 Cash and cash equivalents 26,061,591 5,243,601 31,305,192 Total assets 460,800,774 28,826,769 489,627,543 Liabilities Debt securities (issued) 75,449,991 - 75,449,991 Borrowings 106,027,899 80,013 106,107,912 Derivative financial instruments 350,696 - 350,696 Insurance contracts 207,727,450 3,017,771 210,745,221 Insurance contracts with DPF 66,899,135 36,593 66,935,728 Investment contracts with DPF 16,330,164 - 16,330,164 Total liabilities 472,785,335 3,134,377 475,919,712 5.3 Operational risk Operational risks are risks related to errors in the functioning of business processes, information technology, organisation and similar areas. The operational risks of the Group are managed in the subsidiaries by monitoring the weaknesses and opportunities of their businesses and by controlling the business processes. The operational risk management is based on the Group’s strategic and companies’ operational objectives. The Group manages operational risks by introducing ISO standards at the level of the Group and at its individual members, by which the Group wants to standardise the business processes. The Group uses standardised and uniform software in the area of accounting and investments. Operational risks are reduced also with uniform system of annual planning and interim and annual reporting. 5.4 General business risk General business risks are related to the Group’s operations in the environment, such as the economic environment, legislation and similar, on which the Group has no direct impact. Such risks are quite difficult to measure or model. In order to manage such risks, the Group regularly monitors legislation through its technical services, as well as developments on the capital market and macroeconomic parameters of the markets in which it is present. 135
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