Throughout 2012, the Supervisory Board carried out the tasks stipulated by law and by the Articles of Association of a joint-stock company. It performed its supervision over the activities of the insurance company and submitted its proposals to the Board of Directors.
Having reviewed the Company’s financial statements for the year from 1 January to 31 December 2012, and on the basis of the external auditor’s report on these financial statements, the Supervisory Board acknowledges that accounting records were maintained in a transparent manner, in compliance with the generally binding regulations arranging the bookkeeping of insurance companies and in compliance with the Company‘s Articles of Association, and that the financial statements provide a true and fair view of the Company’s financial position in all material respects.
The statutory external auditor performed an audit of the Company’s financial statements for the year ended 31 December 2012; the audit states that the financial statements give a true and fair view, in all material respects, of the assets, liabilities, equity and financial position of the Company as at 31 December 2012, as well as the result of its operations for 2012 in compliance with the relevant regulations of the Czech Republic.
The Supervisory Board recommends that the General Meeting approve the financial statements for 2012, as proposed by the Board of Directors.
The Supervisory Board reviewed the Related Party Report for 2012, prepared by the Company under the provision of Section 66a(9) of the Commercial Code, and stated, based on the presented documents, that during the accounting period of 1 January 2012 to 31 December 2012 Komerční pojišťovna, a.s. did not suffer any losses.
Prague, on 18 March 2013
On behalf of the Supervisory Board of Komerční pojišťovna, a.s.
Chairman of the Supervisory Board