Balance Sheet as of 31 December 2010

CZK thousand Row No. Prior period Gross Adjustment Net
ASSETS
A. Receivables for subscribed share capital 1 0 0 0 0
B. Intangible fixed assets, of which: 2 66,184 194,451 156,230 38,221
a) Start-up costs 3 0 4,402 4,402 0
C. Financial placements (investments) 5 13,558,637 18,916,472 0 18,916,472
III. Other financial placements 13 13,558,637 18,916,472 0 18,916,472
1. Shares and other variable yield securities, other equity holdings 14 124,580 145,559 0 145,559
2. Bonds and other fixed income securities 15 13,423,732 18,447,458 0 18,447,458
6. Deposits placed with financial institutions 17 123,000 440,048 0 440,048
7. Other financial plaecment 18 −112,675 −116,593 0 −116,593
D. Financial placements of life insurance, if investment risk borne by the policyholder 21 582,360 2,530,140 0 2,530,140
E. Debtors 22 209,776 446,096 303,894 142,202
I. Receivables arising from direct insurance transactions 23 86,221 123,393 59,113 64,279
1. Policyholders 24 86,221 123,393 59,113 64,279
2. Brokers 25 0 0 0 0
II. Receivables arising from reinsurance transactions 26 876 6,249 5,373 876
III. Other receivables 27 122,679 316,454 239,408 77,046
F. Other assets 28 22,451 56,937 36,979 19,958
I. Tangible fixed assets, other than land buildings (real estate), and inventory 29 18,039 51,127 36,912 14,216
II. Cash on accounts with financial institutions and cash on hand 30 4,412 5,809 67 5,742
G. Temporary assets 32 59,370 53,222 0 53,222
II. Deferred acquisition costs of insurance policies, of which separarely: 34 7,601 12,381 0 12,381
a) Life insurance 35 44 1,162 0 1,162
b) Non-life insurance 36 7,557 11,218 0 11,218
III. Other temporary assets, of which: 37 51,770 40,841 0 40,841
a) Estimated receivables 38 48,450 37,552 0 37,552
TOTAL ASSETS 39 14,498,778 22,197,318 497,103 21,700,214
CZK thousand Row No. Prior period Gross Adjustment Net
LIABILITIES
A. Equity 40 1,225,247 0 0 1,382,292
I. Share capital, of which: 41 602,768 0 0 904,152
IV. Other capital funds 46 83,680 0 0 101,609
103,307 0 0 29,321
V. Reserve fund and other funds from profit 47 29,398 0 0 32,985
VI. Retained earnings or accumulated losses brought forward 48 437,665 0 0 204,429
VII. Profit or loss for the period 49 71,736 0 0 139,116
C. Technical reserves 51 12,250,202 17,433,997 88,773 17,345,225
1. Reserve for unearned premiums 52 34,838 44,052 295 43,757
of which: a) Reserve for unearned premiums - life insurance business 53 13,204 17,489 131 17,358
b) Reserve for unearned premiums - non-life insurance business 54 21,634 26,563 164 26,399
2. Life insurance reserve 55 11,342,163 16,363,107 0 16,363,107
3. Reserve for insurance claims 56 467,774 423,519 88,477 335,042
of which: a) Reserve for insurance claims - life insurance business 57 292,334 155,384 1,138 154,246
b) Reserve for insurance claims - non-life insurance business 58 175,440 268,135 87,339 180,796
4. Reserve for bonuses and discounts 59 178,701 355,694 0 355,694
of which: a) Reserve for bonuses and discounts - life business 60 172,744 354,829 0 354,829
b) Reserve for bonuses and discounts - non-life business 61 5,957 865 0 865
5. Equalisation reserve 62 39,435 0 0 0
6. Reserve for the fullfilment of payables arising from the used technical interest rate 63 187,291 247,625 0 247,625
D. Technical life insurance reserve of investment risk borne by the policyholder 70 582,360 2,530,139 0 2,530,139
E. Reserves for other risks and losses 71 19,614 0 0 20,565
2. Reserve for taxation 73 0 0 0 699
3. Other reserves 74 19,614 0 0 19,866
G. Creditors 76 201,326 0 0 138,138
I. Payables arising from direct insurance transactions 77 173,013 0 0 102,212
II. Payables arising from reinsurance transactions 78 6,349 0 0 1,986
V. Other payables, of which: 82 21,964 0 0 33,939
a) Tax liabilities and social security payables 83 5,647 0 0 8,665
H. Temporary liabilities 85 220,028 0 0 283,856
I. Accrued expenses and deferred income 86 95 0 0 0
II. Other temporary liabilities, of which: 87 219,933 0 0 283,856
a) Estimated payables 88 219,933 0 0 283,856
TOTAL LIABILITIES 89 14,498,778 0 0 21,700,214