Results of activity of Foreign insurance company Kazakhinstrakh JSC (Kazakhstan) in 2004

/IRBIS, Galina Tsalyuk, July 19, 05/ - Foreign insurance company Kazakhinstrakh JSC (Almaty, hereinafter - company), whose common shares are circulating in the official "A" listing category of Kazakhstan stock exchange (KASE), presented KASE financial statement for 2004. Following indicators are result of its financial and economic activity in 2004 based upon the company's data (th. KZT, unless otherwise specified): ------------------------------------------------------------------- As of As of Change, Indicator Jan 1, 04 Jan 1, 05 % --------------------------------------- --------- --------- ------- Authorized capital (paid) 540,010 540,010 0.0 Shareholders' equity 1,064,628 1,473,759 +38.4 Total assets 2,126,293 3,507,509 +65.0 Investments in securities 913,375 1,051,098 +15.1 Investments in banks 367,506 333,292 -9.3 Insurance premiums, being issued (net) 313,108 1,381,074 +341.1 Total liabilities 1,061,665 2,033,750 +91.6 Inelaborate insurance premiums 529,247 603,480 +14.0 after deduction of reinsurer's interest Reserves on insurance losses 168,398 41,613 -75.3 Reserves with reinsurers 291,179 1,261,319 +333.2 Total incomes 1,196,145 1,970,449 +64.7 Total expenses 959,801 1,278,440 +33.2 Net income for the year 164,639 612,437 +272.0 --------------------------------------- --------- --------- ------- Calculated by company's data: --------------------------------------- --------- --------- ------- Return on equity (ROE), % 15.46 41.56 +168.7 Return on assets (ROA), % 7.74 17.46 +125.5 Earnings per share (EPS), KZT 687.43 2,557.15 +272.0 Balance cost of 1 shares, KZT 4,445.21 6,153.48 +38.4 ------------------------------------------------------------------- Price earnings ratio (P/E) was not calculated because trades on company's shares were opened in June 2005. Relative to 2003 there is growth of: - company's shareholders' equity - by KZT409.1 m. as a result of increase of resulting undistributed profit by 621.9 m. with decrease of reserve capital by 168.4 m. and revaluation amount - by 44.4 m.; - assets - by KZT1.4 bn., including: insurance premiums, being issued (net) - by 1.1 bn., residual cost of fixed assets - by 172.7 m., investments in securities - by 137.7 m. and other assets - by 2.8 m.; - liabilities - by KZT972.1 m., in connection with growth of debt to reinsurers by 970.1 m., amount of reserves of inelaborate insurance premiums (after deduction of reinsurer's interest) - by 74.2 m. and other liabilities - by 54.5 m., what was partially covered by decrease of reserves on insurance losses by 126.8m.; - total amount of incomes - by KZT774.3 m.; - total expenses - by KZT318.6 m. Net income earned by the company in year 2004 exceeds its net income of 2003 by KZT447.8 m. Company's primary type of activity is insurance activity. [2005-07-19]