Sirius International Insurance Group, Ltd. (SG) 1997年年度报告「NASDAQ」.pdf

1、991 7A N N U A L R E P O R TFINANCIAL HIGHLIGHTSCONSOLIDATEDPARENTMSEK1997199619971996Gross premium income3,0092,8952,7052,623Insurance operating result176147122104Investment operating result621566691671Net income for the year5755240127Combined ratio98%98%100%99%Solvency capital7,4096,9807,0636,816S

2、olvency ratio270%261%289%285%Number of employees112859471Standard&Poors CPA rating:A+C O N T E N T SA Record Year for the Sirius Group2Reinsurance4Scandinavian Re5Financial Risks6Investments7Financial Highlights8ABB Financial Services10Board of Directors Report11Income Statement Consolidated12Balanc

3、e Sheet Consolidated14Accounting Principles16Notes to the Financial Statements18Income Statement-Parent Company24Balance Sheet Parent Company26Notes to the Financial Statements28Proposed Appropriation of Earnings33Auditors Report33Board of Directors34Management35Definitions3619European flooding caus

4、ed the worstdamages for decades in EasternEurope.The merger and acquisition trendcontinued both for companies andbrokers.Securitisation deals started to emerge.Sirius International participated intwo such transactions.Sirius International acquired the bulk ofthe portfolio of Wasa International(UK)an

5、d opened a new office in theLondon Underwriting Center.Despite great volatility in the equitymarkets during the autumn theinvestment return was very good forthe second consecutive year.Sirius International insured severalIndependent Power Projects soldby ABB.A bonus issue in 1998 will raise thepaid-

6、up capital to MSEK 800.The solvency capital now exceedsMSEK 7,000.72A Record Year for the Sirius GroupGran ThorstenssonThe Sirius Group made some significant achievementsduring 1997.The operating result reached the level ofMSEK 791,an increase by 10%compared with 1996.All areas of the group achieved