Gross Written Premium of Insurance Companies in Cee Countries – Mismatching Problems in Financial Statements

The research objective of this paper is to compare the current approaches in reporting of gross written premium in selected Central and Eastern European countries. Under current Czech regulations, the gross written premium in majority of Czech insurance companies is charged under the payment method set in the contract (i.e. annually, quarterly, monthly, etc.), however revenues from gross written premium for the accounting period are always shown in the proper amount. Our research confirmed that presented information about gross written premium in various jurisdictions is based on different methodologies and proved that for the comparability of data and for their information capability there is crucial to develop a precise definition of gross written premium; only in such case there would be possible to ensure the credibility of statistical data. Using these incomparable data may lead in many cases to misleading conclusions when evaluating the level of insurance in various countries and regions.