21. Related party transactions
The Company was involved in the following related party transactions in addition to transactions disclosed in Note 11:
| (CZK’000) | 2015 | 2014 |
|---|---|---|
| Income | ||
| Direct gross premium written/ insurance received | 94,255 | 73,892 |
| Commissions from reinsurers | 607,821 | 481,892 |
| Portion of paid claims covered by reinsurance/ outward insurance | 1,233,550 | 1,017,625 |
| Interest income | — | — |
| Other income | 11,242 | 24,225 |
| Total income | 1,946,868 | 1,597,634 |
| 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 2015 | 31 December 2014 |
|---|---|---|
| Receivables | ||
| Reinsurance receivables | 513,335 | 403,975 |
| Other receivables | 46,939 | 62,113 |
| Total receivables | 560,274 | 466,088 |
| Payables | ||
| Payables from reinsurance | 1,305,024 | 1,051,877 |
| Other payables | 8,215 | 9,452 |
| Total payables | 1,313,239 | 1,061,329 |
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 value | Accrued interest revenue |
|---|---|---|
| Bonds | ||
| Issued by Česká pojišťovna a.s. | 20,245 | 424 |
| Total | 20,245 | 424 |
| As at 31 December 2014 (CZK’000) | Fair value | Accrued interest revenue |
|---|---|---|
| Bonds | ||
| Issued by Česká pojišťovna a.s. | 52,860 | 952 |
| Issued by Home Credit B.V. | 231,385 | 13,312 |
| Total | 284,245 | 14,264 |