Výročná správa 2009 - Komunálna Poisťovňa

(All amount are in thousands of Euros, unless stated otherwise)Amounts calculated by using non-discounted cash flowsExpected cash flows0 - 5years5 - 10years10 - 15yearsover 15yearsTotal31 December 2009Trade payablesand other payables14,049 - - - 14,049Loans 2,024 2,02431 December 2008Trade payablesand other payables13,195 - - - 13,1954.2.2 Market risk(i) Interest rate riskThe interest rate risk is the risk that future cash flows from a financial asset will fluctuate dueto changes in the market interest rate. Insurance contracts with fixed and granted conditions havebeen stated at the inception of the contract. Therefore, the granted interest rate is the main riskfor the Company because the income from a financial asset will not cover insurance liabilities. TheCompany manages this risk through Cash Flow Matching.The Company guarantees the technical interest rate in life insurance of 2.5 – 7%.Sensitivity analysisThe result of sensitivity analysis on profit and ‘other comprehensive income’ due to changesin interest rate are based on interest rate change by 50 basis points (Bp), convexity of bonds isnot taken into account.At 31 December 2009Impact on profit or lossChange +/- 50 BbImpact on ‘other comprehensiveincome’Financial assetFinancial assets available for sale +/-135 -/+ 2 012Financial asset at fair valuethrough profit or loss-/+ 140 -At 31 December 2008Impact on profit or lossImpact on ‘other comprehensiveincome’Financial assetBonds held to maturity +/- 3 -Financial assets available for sale +/- 100 -/+ 329Financial asset at fair valuethrough profit or loss-/+ 46 -Sensitivity of insurance liabilities is described in note 15.2 b).Ročná účtovná závierka a komentár I Company Accounts149