Generali Pojišťovna a.s. Annual Report 2015
 
 
 
 
 
 

21. Related party transactions

The Company was involved in the following related party transactions in addition to transactions disclosed in Note 11:

(CZK’000)20152014
Income
Direct gross premium written/ insurance received94,25573,892
Commissions from reinsurers607,821481,892
Portion of paid claims covered by reinsurance/ outward insurance1,233,5501,017,625
Interest income
Other income11,24224,225
Total income1,946,8681,597,634
Expense
Outwards reinsurance premium/ insurance paid(2,386,816)(2,142,444)
The share of reinsurers in insurance transactions/ inward insurance(134,967)(3,798)
Commission costs incurred in connection with concluding insurance contracts /commissions transferred to reinsurers(19,215)(19,020)
Assistance services(29,108)
Rent(28,753)(17,181)
Other operational costs and services (net value)(282,942)(210,399)
Total expense(2,881,801)(2,392,842)

The following related party receivables and payables were outstanding as at:

(CZK’000)31 December 201531 December 2014
Receivables
Reinsurance receivables513,335403,975
Other receivables46,93962,113
Total receivables560,274466,088
Payables
Payables from reinsurance1,305,0241,051,877
Other payables8,2159,452
Total payables1,313,2391,061,329

Related party receivables and payables arose under similar terms and conditions as for unrelated parties.

Company reported securities issued by related parties:

As at 31 December 2015 (CZK’000)Fair valueAccrued interest
revenue
Bonds
Issued by Česká pojišťovna a.s.20,245424
Total20,245424
As at 31 December 2014 (CZK’000)Fair valueAccrued interest
revenue
Bonds
Issued by Česká pojišťovna a.s.52,860952
Issued by Home Credit B.V.231,38513,312
Total284,24514,264