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

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

ANNUAL REPORT 2007A decrease of retrocession participation in losses and at the same time the increase of losses participation inBosna RE self-retention is mostly a result of an increase of a portion of risks self-retained by Bosna RE in 2007.In fact, maximum self-retentions of Bosna RE were not increased but were used in a way which was enabledby the increased Company’s capital. Therefore, considering all factors influencing the safety of a reinsurer,necessary precautions, clear perception of any potential hazard and additional protection, it is necessary to putemphasis on active role of Bosna RE as reinsurer.In comparison to previous year, the structure of reinsurance premium realized by Bosna RE has not significantlychanged. A Motor Hull with 27,96% still dominates in realized premium. It is followed by 08 and 09insurance classes (Fire and Other Property Insurance). The Class 09 recorded a decrease of participation intotal premium which is a consequence of decrease of Bosna RE participation in one of the larger treaty in RMacedonia market.There are no significant changes in other insurance classes. It may be worth mentioning that insurance class19 (Life) actually represents additional accident insurance within life insurance.The structure of reinsurance premium is given in the Table 7.Table 7 THE STRUCTURE OF REINSURANCE PREMIUM PER INSURANCE CLASSES2006 2007 2007+IV qtr Index Index+IV qtr 2006 2007 2007+IV qtr1 Accident 1.337.216 2.036.457 2.387.256 152,29 178,52 4,47% 5,26% 4,93%2 Health 1.100.142 997.542 1.200.135 90,67 109,09 3,68% 2,58% 2,48%3 Motor Hull 7.723.069 10.826.683 14.037.622 140,19 181,76 25,80% 27,96% 29,02%4 Railway Hull 0 0 0 0,00 0,00 0,00% 0,00% 0,00%5 Aircraft Hull 545.162 415.465 415.465 76,21 76,21 1,82% 1,07% 0,86%6 Marine Hull 7.956 40.546 56.384 509,62 708,70 0,03% 0,10% 0,12%7 Goods in Transit 1.173.072 1.860.486 2.366.628 158,60 201,75 3,92% 4,80% 4,89%8 Fire and Other Perils 5.538.741 7.519.957 9.191.104 135,77 165,94 18,50% 19,42% 19,00%9 Property Other 8.957.587 8.455.414 10.223.010 94,39 114,13 29,93% 21,83% 21,13%10 Motor TPL 1.538.294 4.030.057 5.533.232 261,98 359,70 5,14% 10,41% 11,44%11 Aviation TPL 406.042 318.505 318.505 78,44 78,44 1,36% 0,82% 0,66%12 Marine TPL 25.694 237 237 0,92 0,92 0,09% 0,00% 0,00%13 General Liability 793.705 1.378.562 1.572.658 173,69 198,14 2,65% 3,56% 3,25%14 Credit 0 5.462 5.462 0,00 0,00 0,00% 0,01% 0,01%15 Guarantee 14.927 0 6.233 0,00 41,76 0,05% 0,00% 0,01%16 Financial Loss 142.106 230.958 258.024 162,53 181,57 0,47% 0,60% 0,53%17 Legal Protection 0 0 0 0,00 0,00 0,00% 0,00% 0,00%18 Assistance 0 0 0 0,00 0,00 0,00% 0,00% 0,00%19Life Assurance (LifeAssurance and AnnuityAssurance)628.633 610.340 802.240 97,09 127,62 2,10% 1,58% 1,66%TOTAL 29.932.347 38.726.671 48.374.195 129,38 161,61 100,00% 100,00% 100,00%32

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