NOTES TO BOSNA RE Co. Ltd. ANNUAL REPORT FOR 2007

bosnare.ba

NOTES TO BOSNA RE Co. Ltd. ANNUAL REPORT FOR 2007

ANNUAL REPORT 2007REINSURANCE PREMIUM AND LOSSESThe review of realized and paid reinsurance premium and losses for 2007 is given in the Table 2.2007 2007+IV Qtr.Reinsurance Premium 38,726,671 48,374,195Reinsurance Losses 16,597,522 20,162,622The number of factors definitely affects the volume of realized reinsurance premium and losses. One of theimportant factors is premium and losses movement in the insurance market Bosna RE operates, but the moreimportant factor is a number and structure of concluded reinsurance treaties, conditions, etc.The number of reinsurance treaties that Bosna RE concludes with its cedents increase every year. The trend ofconcluded treaties is shown in the graph below (Graph 1) and demonstrates trends for the period of 12 yearsand refers only to inward reinsurance treaties.Graph 1The treaties concluded for 2007 have not significantly changed referring to their structure or conditions incomparison to treaties from previous year. The relation between proportional and non-proportional treatieshas not changed. It seems that Bosna RE cedents prefer proportional treaties, which is logical considering thestrength of total BH insurance market.The reinsurance premium realized in 2007 amounts KM 38.726.671, i.e. KM 48.374.195, with IV Quarter of2007 included. The first result is for 29,38% better then realization in 2006, i.e. it is for 15,48% increased inrelation to the planned reinsurance premium for 2007. Those indicators are given in the Table of Income andExpenses and shall not be separately explained in the text to follow.20

More magazines by this user
Similar magazines