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 2007Change in the unearned premium provision ceded to re-insurers 3.438.290 (66,050)Reinsurance premium ceded to re-insurers, net (20,975,152) (20,899,485)17,589,757 9,203,8916. REINSURANCE CLAIMS AND LOSS ADJUSTMENT EXPENSES 2007 2006Reinsurance claims and loss adjustment expenses, domestic 17,673,220 11,530,780Reinsurance claims and loss adjustment expenses, foreign 2,489,402 2,554,198Change in the provision for incurred but not reported claims 1,652,181 3,209,914Change in the provision for reported claims (9,961,180) 1,737,276Change in provision for bonuses and discounts 487,643 -Reinsurance claims arising from the insurance contracts issued 12,341,266 19,032,168Reinsurance claims recovered from re-insurers (6,836,578) (7,137,045)Change in the provision for incurred but not reported claims (1,436,725) (3,141,941)Change in the provision for reported claims 7,450,407 527,796Change in provision for bonuses, discounts and premiums (778,524) -Reinsurance claims recovered from re-insurers (1,601,420) (9,751,190)10,739,846 9,280,9787. INVESTMENT INCOME 2007 2006Interest on bank deposits 556,402 576,267Dividends 223,284 219,571Income from sale of investment 48,002 -Investment contract income - 3,971,086Decrease in allowance for impairment of loans - 81,520Other investment income 5,616 -833,304 4,848,4448. OTHER OPERATING INCOME 2007 2006Rent 152,446 152,445Gain on disposal of property and equipment, net 14,180 142,590Collected written off receivables 9,328 1,023,367Other 6 16,91862

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