Insr: Annual Report 2018 approved; previous periods corrected
The Board of Insr Insurance Group ASA approved the annual accounts and report on March 28th, 2019.
After publishing preliminary annual accounts on February 27th, the company has discovered that the reinsurance liabilities were underestimated, which is related to bookkeeping errors in 2014 and 2015 in a small portfolio purchased from Landbruksforsikring. The error became visible after introducing an improved accounting tool and better routines for reinsurance accounting. NOK 28.5 million have been deducted from shareholders’ equity. With this adjustment, the solvency ratio as of 31.12.2018 is 153%.
The annual report (in Norwegian) has been published on the company webpage (www.insr.io/investor-relations/) and is attached to this release.
For additional information, please contact:
Anne B. Knudtzon, SVP Business Controlling & Investor Relations
Insr Insurance Group ASA
T: +47 926 10 606
Insr Insurance Group ASA was established in 2009 and is an independent insurance group listed on the Oslo Stock Exchange, with headquarters in Oslo. Insr has a license for all groups of non-life insurance, except for credit and guarantee insurance. The Company's main focus is on the market for property and casualty insurance for the retail and small & medium sized enterprise segments in Norway and Denmark. Insr distributes its products mainly through insurance agents and partners.