AS HANSAPANK

ANNOUNCEMENT				 

26.02.99

 

UNAUDITED 1998 FINANCIAL RESULTS OF EESTI KINDLUSTUS

 

 

In 1998 Eesti Kindlustus, together with Hansapank Insurance 

collected insurance premiums worth EEK 389.4 million, of which 

life insurance formed EEK 124.6 million and p&c insurance EEK 

264.8 million. In life insurance our market share in Estonia 

was 60.6% and in p&c insurance 22.5%.

During 1998 indemnities were paid in the total amount of EEK 

158.2 million, incl. EEK 23.2 million in life insurance and EEK 

135.1 million in p&c insurance.

The unaudited financial result of Eesti Kindlustus group for 

1998 was an EEK 110.9 million loss, of which EEK 18.2 million 

resulted from the revaluation of investments in other 

countries, EEK 20.1 million from the revaluation of fixed 

assets and EEK 27.4 million from the loss on financial 

investments.

In consolidating Eesti Kindlustus into its 1998 financial 

statements Hansapank Group only accounts for Eesti Kindlustus’ 

financial results after the merger, i.e. starting from August 

1, 1998, whereby in Hansabank’s consolidated accounts the 

financial result of Eesti Kindlustus Group was an EEK 51.1 

million loss.

 

 

AS HANSAPANK

 

 

 

Mart Toevere

Analyst

Tel. +372 6131 569