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 2007The review of other business expenses and particularly acquisition costs is given in Table 13.TOTAL EXPENSESWITHOUT LOSSES ANDCOMMISSIONRealisation2006Plan2007Realisation IVQtr Excluded0-Jan-00Realisation IVQtr Included31-Dec-073/1 3/2 4/1 4/21 2 3 4 5 6 7 83.080.400,03 2.871.000,00 2.882.525,11 3.125.587,87 93,58 100,40 101,47 108,87ACQUISITION COSTS 2.690.278,65 2.492.000,00 2.625.189,14 2.762.975,40 97,58 105,34 102,70 110,87GROSS PREMIUM 29.932.347,06 33.534.000,00 38.726.671,27 48.374.195,19NET PREMIUM 9.098.912,32 14.530.000,00 18.174.541,35 23.960.753,52EXPENSES IN RESPECT OFGROSS PREMIUM8,99% 7,43% 6,78% 5,71%EXPENSES IN RESPECT OFNET PREMIUM29,57% 17,15% 14,44% 11,53%It is obvious from the table that expenses in relation to reinsurance premium net as well as gross have tendencyof constant decrease.Total income for 2007 amounts KM 37,92 million, i.e. KM 37,41, including IV quarter effect.Total reinsurance reinsurance expenses for 2007 amount KM 34,99 million, i.e. KM 34,80 million.The difference between income and expenses amounts KM 2.607.935,49, which represents gross profit for2007.56

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