Income statement

DKKm		2007	2008
Notes
	General insurance
	Gross premiums written	16,959	17,629
	Ceded insurance premiums	-893	-926
	Change in provisions for unearned premiums	-130	-134
	Change in reinsurers' share of provisions for unearned premiums	-46	66
2	Earned premiums, net of reinsurance	15,890	16,635

3	Technical interest, net of reinsurance	501	499

	Claims paid	-11,336	-12,880
	Reinsurance recoveries	495	605
	Change in provisions for claims	161	1,114
	Change in the reinsurers' share of provisions for claims	6	-486
4	Claims incurred, net of reinsurance	-10,674	-11,647

	Bonus and premium rebates	-223	-172

	Acquisition costs	-1,821	-2,247
	Administrative expenses	-948	-756
	Acquisition costs and administrative expenses	-2,769	-3,003
	Commission and profit commission from the reinsurers	95	72
5	Total insurance operating expenses, net of reinsurance	-2,674	-2,931

6	Technical result	2,820	2,384

	Investment activities
16	Income from associates	1	-2
	Income from investment properties	116	128
7	Interest income and dividends	1,382	1,523
8	Value adjustment	415	-1,008
7	Interest expenses	-88	-100
	Investment management charges	-86	-101
	Total return on investment activities	1,740	440

3	Interest on insurance provisions	-1,400	-1,428

	Total return on investment activities after technical interest	340	-988

	Other income	121	124
	Other expenses	-172	-173

	Profit/loss before tax	3,109	1,347
9	Tax	-842	-501

	Profit/loss on continuing business	2,267	846

10	Profit/loss on discontinued and divested business	-1	0

	Profit/loss for the year	2,266	846


28	Earnings per share - continuing business of DKK 25	33.5	12.8
	Earnings per share of Dkk 25	33.5	12.8