FORM OS-HO
INSURANCETRANSACTIONS OF CROATIAN RESIDENTS
WITH NON-RESIDENTS
NAME OF INSTITUTION:______
IDENTIFICATION NO.:______
ADDRESS:______
Type of institution: _____
A Total insurance services
- in 000 kuna
Month:1Freight insurance
1.1 Gross premiums charged
1.2 Gross amount of settled claims
2Non-life insurance (excluding insurance under item 1)
2.1 Gross premiums charged
2.2 Gross amount of settled claims
3Life assurance
3.1 Gross premiums charged
3.2 Gross amount of settled claims
B Insurance services in transactions with non-residents
- in 000 kuna
Month:1Freight insurance
1.1 Gross premiums charged
1.2 Gross amount of settled claims
1.2.1 - tonon-residents based on theirinsurance policies
1.2.2 - tonon-residents based on residents' insurance policies
2 Non-life insurance (excluding insurance under item 1)
2.1 Gross premiums charged
2.2 Gross amount of settled claims
2.2.1 - tonon-residents based on their insurance policies
2.2.2 - tonon-residents based on residents' insurance policies
3 Life assurance
3.1 Gross premiums charged
3.2 Gross amount of settled claims
3.3 Additional amounts insured
4 Auxiliary services
4.1 Auxiliary services provided
4.2 Auxiliary services received
5 Reinsurance services received from non-residents
5.1 Ceded premiums
5.2 Reinsurer's share in settled claims
C Transactions across transit accounts (correspondent agreements)
- in 000 kuna
Month:1 Transit account
1.1 Outflows
1.2 Inflows
D Balance of life assurance mathematical reserve belonging to non-residents
- in 000 kuna
1 Life assurancebeginning of quarter / end of quarter
1.1 Balance of life assurance mathematical reserve belonging to non-residents
______
CONTACT PERSON: FORM COMPLETED BY:
Name:______Name: ______
Function:______Place and Date: ______
Telephone:______Facsimile:______Stamp and Signature:______
______
FORM OS-HO
INSTRUCTIONS FOR COMPLETION
Under Type of institution in the form's heading, enter one the following codes :
1 - insurance company
2 - reinsurance company.
Underposition Month in the table's heading, enter a four-digit code for the relevant month and year , e.g. for February 2004, enter code 0204.
Important note: Outflows and inflows across transit accounts should not be shown under any otherline item except under part C which is envisaged for transactions across transit accounts.
Part A
In this part of the form, enter data on total gross premiumscharged and the gross amount of claims settledby Croatian insurance and reinsurance companies,toresidents and non-residents) according to the listed types of insurance.
Under position1.1 Gross premiums charged, enter the amount of gross premiums charged, and under position1.2 Gross amount of settled claims, enter the gross amount of settled claims for freight insurance.
Under position 2.1 Gross premiums charged, enter the amount of gross premiums charged (position analogous to Income Statementposition 002, less position 1.1 of this part of the form) and under 2.2 Gross amount of settled claims, enter the gross amount of settled claims for non-life insurance (position analogous to Income Statement position 010, less position 1.2 of this part of the form).
Under position 3.1 Gross premiums charged, enter the amount of gross premiums charged (position analogous to Income Statement position 033) and under position3.2 Gross amount of settled claims, enter the gross amount of settled life assurance claims (positionanalogous to Income Statement position 051).
Part B
In this part of the form enter data on gross premiums charged and the gross amount of claimssettled by Croatian insurance and reinsurance companiesto non-residents, according to the listed types of insurance.
Under position 1.1 Gross premiums charged, enter the amount ofgross premiums charged to non-residents.
Under position 1.2.1 Settled claims to non-residents based on their insurance policies, enter the amount of claims settled to non-residents based on their insurance policies (e.g. a non-resident whotakes out an insurance with a domestic insurer for the goods in transit through the RoC, sustains damages and makes a claim for damages compensation on the basis of that policy).
Under position 1.2.2 Settled claims to non-residents based on residents' insurance policies, enter the amount of claims settled to non-residents based on residents' insurance policies (e.g. a resident takes out an insurance for the goods with a domestic insurer before selling the goodsto a foreign person. The goods are lost or damaged. The domestic insurer pays damages to the foreign owner of the goods based on the insurance policy taken out by the resident.).
Under position 2.1 Gross premiums charged, enter the amount of gross premiums charged to non-residents.
Under position 2.2.1 Settled claims to non-residents based on their insurance policies, enter the amount of claims settled to non-residents based on their insurance policies (e.g. a non-resident takes out aboat insurance with a domestic insurer, sustains damages and makes a claim for damages compensation based on that policy).
Under position 2.2.2 Settled claims to non-residentsbased on residents' insurance policies, enter the amount of claimssettled to non-residents based on residents' insurance policies (e.g. a non-resident has a traffic accident in the RoC caused by a resident with an insurance policy from a domestic insurer. The domestic insurer pays damages compensation to the non-resident based on the resident's insurance policy).
Under position 3.1 Gross premiums charged, enter the amount of gross premiums charged, and under position 3.2 Gross amount of settled claims, enter the gross amount of settled life assurance claims. Position 3.3 Additional amounts insured includes income from investment of mathematical reserve of life assurance belonging to non-residents.
FORM OS-HO
Auxiliary services comprise insurance brokerage and agency services provided byinsurance brokers and agents and agency services auxiliary to insurance such as consultancy services, actuary services, risk assessment services, etc. Commission across transit accounts need not be included under position Auxiliary services.
Under position 4.1 Auxiliary services provided, enter the amount of income earned by domestic insurers and reinsurers through the provision of auxiliary services to non-residents. This position also comprises commission earned by resident insurance and reinsurance companies from non-resident reinsurance companies in the form of reinsurer's contribution in ceding insurer's costs (this part is analogous to the sum of Income Statement positions 028 and 073, i.e. that part thereof which relates to non-resident transactions). Under position 4.2 Auxiliary services received, enter the amount charged by non-resident insurance brokers and agents for auxiliary services provided to domestic insurance and reinsurance companies. This position also comprises commission that non-resident insurance brokers, agents and insurance and reinsurance companies charged to Croatian insurance and reinsurance companies for the provision of insurance and reinsurance services (this part is analogous to the sum of Income Statement positions 020 and 065, i.e. that part thereof which relates to transactions with non-residents).
For reinsurance services received from non-residents, under position 5.1 Ceded premiums, enter the amount of premiums ceded to foreign reinsurer (this position is analogous to the sum of Income Statement positions 003 and 034, i.e. that part thereof which relates to transactions with non-residents), and under position 5.2 Reinsurer's share in settled claims, enter the share of foreign reinsurer in settled claims (this position is analogous to the sum of Income Statement positions 011 and 052, i.e. that part thereof which relates to transactions with non-residents).
Part C
In this part of the form enter data on transactions across transit accounts (e.g. a non-resident causes a traffic accident in the RoC, and the injured resident party demands damages compensation from the domestic insurer. The domestic insurer pays the damages, but is refunded the whole amount plus commission by the foreign insurer with whom it has a correspondent agreement).
Under position 1.1 Outflows, enter the total value of disbursements across transit account
Under position 1.2 Inflows, enter the total value of collections across transit accounts, increased by the amount of commission collected.
Part D
In this part of the form enter data on the balance of mathematical reserve of life assurance, i.e. that part thereof that belongs to non-residents.
Under position 1.1 Balance of life assurance mathematical reserve, enter the balance of mathematical reserve of life assurance that belongs to non-residents at the beginning and at the end of the reporting quarter.
Note:
Reinsurance companies in Part A and Part B, positions 1 to 3, have to enter active reinsurance transactions and under position 5 of Part B, passive reinsurance transactions (retrocession).
FORM OS-HO
INSURANCETRANSACTIONS OF CROATIAN RESIDENTS
WITH NON-RESIDENTS
This questionnaire is designed to collect information on income and expenditure arising frominsurance-related transactions of Croatian insurance and reinsurance companies with non-residents. Information is collected on a quarterly basis, exclusively for the purpose of compilation of theposition Insurance and other associated positions in the Balance of Payments of the Republic of Croatiaas well as for the compilation of the international investment position.
Before completing the form, please read carefully the Methodological Notes given below in the text and the instructions for the completion of individual positions, given at the end of the questionnaire. All queries in connection with this questionnaire should be addressed to:
Ms. Davorka Davosir Pongrac
Croatian National Bank
Statistics Department
10 000 Zagreb
p. p. 603
phone: 01/45 64 787 fascimile: 01/45 50 854.
METHODOLOGICAL NOTES
(1) The term resident is taken to mean:
- legal persons with a registered office in the Republic of Croatia, except their foreign branches,
- branches of foreign companies and sole traders enrolled in the register kept with the competent body of government authority or administration in the Republic of Croatia,
- sole traders, craftsmen and other natural persons with a registered office or residence in the Republic of Croatia independently pursuing an economic activity of their registration,
- natural persons resident in the Republic of Croatia,
- natural persons staying in the Republic of Croatia on the basis of a valid residence permit for a period of not less than 12 months,
- diplomatic, consular and other representative offices of the Republic of Croatia abroad which are financed from the budget and the Croatian citizens working in such representative offices and members of their families.
(2) All other persons not listed under (1) are considered non-residents.
Information provided has to be expressed in thousands of kuna, while the amounts charged in foreign currency have to be converted into kuna using the applicable exchange rate (in case of non-convertible currencies, the market rate for the US dollar (USD) has to be used, and the amount thus obtained then converted into kuna).
Data should be shown as at the moment of the provision of service (invoicing)and not at the moment of payment, separately for each month of the reporting quarter. For that three columns, one for each month, under each of the A, B and C Parts of the questionnaire, have been provided. Separation by months is important for the purposes of compilation of the Balance of Payments of the Republic of Croatia on a monthly basis.