Earned premiums

The portion of premiums written which is allocated to the current fiscal year.

Earnings per share

The ratio of consolidated annual profit (less interest on hybrid capital) divided by the average number of shares outstanding. The diluted earnings per share include convertible securities that have been exercised, or are still available for exercise, in the calculation of the number of shares and net income. The convertible securities consist of convertible bonds and stock options.


The European Insurance and Occupational Pensions Authority (EIOPA) was founded as an independent EU authority with effect from 01.01.2011 and is part of the European System of Financial Supervision. By means of the powers conferred upon it, the EIOPA contributes towards ensuring the consistent, efficient and effective application of legal acts, promoting the harmonisation of supervision, providing comments to the European Parliament, the European Council and the European Commission, and conducting economic analyses of the markets, that are intended to assist in reaching the authority’s aims.

Embedded Value

The embedded value represents the economic value of the insurance business and is comprised of future profits from the insurance portfolio. Profits from future new business are not included. It therefore corresponds to the distributable profits after taxes and takes into account the risks contained in the business.

Enterprise Risk Management

Risk and opportunity management. The tasks of ERM are identification, assessment, analysis and control of opportunities and risks.

Equity method

Shares in associated companies are recognised using this method. As a rule, the value recognised corresponds to the Group's proportional share of the equity in these companies. In the case of shares in companies that prepare their own consolidated financial statements, the consolidated equity is recognised instead. For current valuation, the value recognised is adjusted using a proportional share of changes to equity, with the shares in net income being allocated to consolidated net income and disbursed profit distributions deducted.

Erste Group

The short version for Erste Group Bank AG.

Expenses for claims and insurance benefits

These are comprised of the payments for insurance claims, payments for claims investigation, claims settlement, and claims prevention, and from the change in the associated reserves.