{
  "url": "https://openlegislation.uk/eu-directive-1991-674/article-34",
  "json_url": "https://openlegislation.uk/eu-directive-1991-674/article-34.json",
  "legislation": "eudr/1991/674",
  "legislation_title": "Council Directive of 19 December 1991 on the annual accounts and consolidated accounts of insurance undertakings (91/674/EEC)",
  "legislation_url": "https://openlegislation.uk/eu-directive-1991-674",
  "path": "article/34",
  "kind": "article",
  "number": "34",
  "heading": "Profit and loss account",
  "text": "I. Technical account — Non-life-insurance business\n1.\nEarned premiums, net of reinsurance:\n(a)\ngross premiums written\n…\n(b)\noutward reinsurance premiums (-)\n…\n…\n(c)\nchange in the gross provision for unearned premiums and, in so far as national legislation authorizes the inclusion of this provision in liabilities item C (1), in the provision for unexpired risks (+ / -)\n…\n(d)\nchange in the provision for unearned premiums, reinsurers' share (+ / -)\n…\n…\n…\n2.\nAllocated investment return transferred from the non-technical account (item III (6))\n…\n3.\nOther technical income, net of reinsurance\n…\n4.\nClaims incurred, net of reinsurance:\n(a)\nclaims paid\n(aa)\ngross amount\n…\n(bb)\nreinsurers' share (-)\n…\n…\n(b)\nchange in the provision for claims,\n(aa)\ngross amount\n…\n(bb)\nreinsurers' share (-)\n…\n…\n…\n5.\nChanges in other technical provisions, net of reinsurance, not shown under other headings (+ / -)\n…\n6.\nBonuses and rebates, net of reinsurance\n…\n7.\nNet operating expenses:\n(a)\nacquisition costs\n…\n(b)\nchange in deferred acquisition costs (+ / -)\n…\n(c)\nadministrative expenses\n…\n(d)\nreinsurance commissions\nand profit participation (-)\n…\n…\n8.\nOther technical charges, net of reinsurance\n…\n9.\nChange in the equalization provision (+ / -)\n…\n10.\nSub-total (balance on the technical account for non-life-insurance business (item III 1)).\n…\nII. Technical account — Life-assurance business\n1.\nEarned premiums, net of reinsurance:\n(a)\ngross premiums written\n…\n(b)\noutward reinsurance premiums (-)\n…\n(c)\nchange in the provision for unearned premiums, net of reinsurance (+ / -)\n…\n…\n2.\nInvestment income:\n(a)\nincome from participating interests,\nwith a separate indication of that derived from affiliated undertakings …\n…\n(b)\nincome from other investments,\nwith a separate indication of that derived from affiliated undertakings …\n(aa)\nincome from land and buildings\n…\n(bb)\nincome from other investments\n…\n…\n(c)\nvalue re-adjustments on investments\n…\n(d)\ngains on the realization of investments\n…\n…\n3.\nUnrealized gains on investments\n…\n4.\nOther technical income, net of reinsurance\n…\n5.\nClaims incurred, net of reinsurance:\n(a)\nclaims paid\n(aa)\ngross amount\n…\n(bb)\nreinsurers' share (-)\n…\n…\n(b)\nchange in the provision for claims\n(aa)\ngross amount\n…\n(bb)\nreinsurers' share (-)\n…\n…\n…\n6.\nChange in other technical provisions, net of reinsurance, not shown under other headings (+ / -):\n(a)\nlife assurance provision, net of reinsurance\n(aa)\ngross amount\n…\n(bb)\nreinsurers' share (-)\n…\n…\n(b)\nother technical provisions, net of reinsurance\n…\n…\n7.\nBonuses and rebates, net of reinsurance\n…\n8.\nNet operating expenses:\n(a)\nacquisition costs,\n…\n(b)\nchange in deferred acquisition costs (+ / -)\n…\n(c)\nadministrative expenses\n…\n(d)\nreinsurance commissions\nand profit participation (-)\n…\n…\n9.\nInvestment charges:\n(a)\ninvestment management charges, including interest\n…\n(b)\nvalue adjustments on investments\n…\n(c)\nlosses on the realization of investments\n…\n…\n10.\nUnrealized losses on investments\n…\n11.\nOther technical charges, net of reinsurance\n…\n12.\nAllocated investment return transferred to the non-technical account (-) (item III 4))\n…\n13.\nSub-total: (balance on the technical account — life assurance business) (item III 2))\n…\nIII. Non-technical account\n1.\nBalance on the technical account — non-life-insurance business (item I (10))\n…\n2.\nBalance on the technical account — life-assurance business (item II (13))\n…\n3.\nInvestment income\n(a)\nincome from participating interests,\nwith a separate indication of that derived from affiliated undertakings …\n…\n(b)\nincome from other investments,\nwith a separate indication of that derived from affiliated undertakings …\n(aa)\nincome from land and buildings\n…\n(bb)\nincome from other investments\n…\n…\n(c)\nvalue re-adjustments on investments\n…\n(d)\ngains on the realization of investments\n…\n…\n4.\nAllocated investment return transferred from the life-assurance technical account (item II (12))\n…\n5.\nInvestment charges:\n(a)\ninvestment management charges, including interest\n…\n(b)\nvalue adjustments on investments\n…\n(c)\nlosses on the realization of investments\n…\n…\n6.\nAllocated investment return transferred to the non-life-insurance technical account (item I 2))\n…\n7.\nOther income\n…\n8.\nOther charges, including value adjustments\n…\n9.\nTax on profit or loss on ordinary activities\n…\n10.\nProfit or loss on ordinary activities after tax\n…\n11.\nExtraordinary income\n…\n12.\nExtraordinary charges\n…\n13.\nExtraordinary profit or loss\n…\n14.\nTax on extraordinary profit or loss\n…\n15.\nOther taxes not shown under the preceding items\n…\n16.\nProfit or loss for the financial year\n…",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudr/1991/674/article/34",
    "retrieved_at": "2026-11-01T15:23:23.864707+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}