Facts & Figures
Figures January to December 2011 (in CHF thousands):
| Income Statement | January to December 2011 |
January to December 2010 |
| Gross premium written | 187'283 | 234'850 |
| Net premium written | 163'126 | 195'078 |
| Net change in unearned premium reserve | 17'662 | (7'027) |
| Net premium earned | 180'788 | 188'051 |
| Net claims incurred | (133'669) | (130'677) |
| Net underwriting result | 47'119 | 57'374 |
| Operating expenses | (29'350) | (27'000) |
| Realized investment income | 12'459 | 12'005 |
| Unrealized investment income (loss) | (9'014) | 6'449 |
| Long term financing costs | (2'706) | (3'001) |
| Net foreign exchange loss | (21'845) | (15'567) |
| Total financial loss | (21'106) | (114) |
| Other income | 274 | 122 |
| Income (loss) before taxes | (3'063) | 30'382 |
| Net income (loss) after taxes | (3'127) | 26'973 |
| Net combined ratio | 90% | 84% |
| Number of employees | 105 | 93 |
| Balance Sheet | December 31, 2011 |
December 31, 2010 |
| Cash and investments | 463'720 | 434'912 |
| Receivables and reserves for reinsurance | 94'209 | 119'591 |
| Other assets | 36'343 | 28'895 |
| Total assets | 594'272 | 583'398 |
| Insurance / reinsurance and other payables | 19'413 | 7'493 |
| Long term notes | 37'631 | 38'764 |
| Reserve for unearned premiums and claims outstanding | 338'534 | 322'857 |
| Equalization reserve | 12'715 | 12'715 |
| Other liabilities | 765 | 1'228 |
| Shareholders' equity | 185'214 | 200'341 |
| Total liabilities and shareholders' equity | 594'272 | 583'398 |
| Return on equity | (2%) | 13% |
Net premium written by region & net premium written by phase (January to December 2011):
