Helvetia Patria Holding draw their fundamentals from the statutory foundation (the stock corporation law and the law governing stock exchange transactions in particular)
Spain did not experience any change in the overall total of employees: While the total number for Helvetia CVN slightly declined as a consequence of the integration, additional personnel was required for Previsión
After most of the insurance shares experienced a strong performance in 2000, the positive price expectations remained largely unmet. In fact, the stock market development of most of the European insurance securities turned negative.
northern side of ridges in the high mountains. First, more accidents happen during foehn and, secondly, the foehn bank is threatening the helicopters on the lee side of ridges. That’s why
Sure, there is no life without death, but there are many opportunities to recklessly call for it. The rescue is not always successful and, with thousands of Rega missions flown, some are more memorable than others. Paraplegics are harder to get over than people who have died. Most of the victims are fully aware of their fate once the doctor marks the abdomen with a felt-tip pen and they don’t feel the pinpricks just millimetres below that mark; they know that the destination is mostly the
While the underwriting result in the life business was heavily influenced by the investment outcome and thus turned out to be lower compared to 2000, the result of the non-life business, however, which is less dependent from investment activities, improved on both fronts, claims and costs, and reached a net return on sales of 4.7 per cent (2000: 1.9 per cent).
We are confident for the year 2002 that those factors which had positive effects in the last year, continue to make a successful development possible. As far as the group life insurance business is concerned we are observing with interest the upcoming political decisions regarding the first revision of the
The sports meet is often a better place to discuss important topics than the meeting room. By Markus Mäder.
P r o f i t a n d l o s s a c c o u n t in CHF thousand inCHF thousand
Net change in other underwriting reserves 179 909 18 539 870.4%
The net interest income assigned to life business corresponds to the income earned on investments, less interest on the risk capital invested calculated at local national rates, which is assigned to the non-underwriting account.
Holdings (minority interest not-listed at the stock exchange and listed associated companies) are valued according to the cost value method or proportionately based on the lower equity method if applicable.
Sopot, as well as to the reclassification of associated companies, held long-term, from the position “Shares, other non-fixed-interest -rate-securities and investment funds”.
Shares, other non-fixed-interestrate securities and investment funds 7 007.1 - 46.2 7.9 11 466.7 - 11 499.7 9.8 - 641.2 - 1 749.7 4 554.7
In our opinion, the consolidated financial statements give a true and fair view of the financial position, the results of operations and the cash flows in accordance with the
As auditors of the group, we have audited the consolidated financial statements (balance sheet, statement of cash flows, income statement and notes pages 40 to 51) of Helvetia Patria Group for the year ended
Profit from non-life underwriting activities 81.4 34.3 23.0 43.9 41.4 19.5 in CHF million in CHF million in CHF million in CHF million in CHF million in CHF million
Since Helvetia Patria both assumes and cedes reinsurance, these items appear on the balance sheet under both assets and liabilities.
• Single premium One-time premium paid when concluding an insurance to cover all future premiums.
• Unit-linked life insurance policies Life insurance policies in which the insurer invests the insuree’s savings capital on the account of and at the risk of the insuree. Most unit-linked life insurance policies are socalled “fund-linked products” in which the insurees can select the type of investment they desire from a range of investment funds.
• Tail rotor The small rotor at the tail provides antitorque and in-flight trim for the helicopter.