REPORTING OF NON-FINANCIAL INFORMATION BY VISEGRAD GROUP INSURANCE COMPANIES

The objective of this paper is to examine causes and principles of reporting non -financial information and to evaluate its extent by insurance companies of Visegrad Group countries in 2000-2015, that is, before regulations obliging large entities to report non-financials were introduced. The theoretical section reviews literature and applicable legislation to indicate causes and principles of non-financial reporting by insurance companies. The degree of nonfinancial reporting by Visegrad Group insurers is explored in the empirical part. Impact of foreign insurers' participation in the insurance market on the level of non-financial reporting is examined as well. The following research hypothesis: foreign insurers' participation in the insurance market influences the level of non-financial reporting is posited on the basis of my study into the level of non-financial reporting in the Visegrad Group countries. Approximately 40% of the insurance companies covered have been found to report, although it was not compulsory. Not only foreign insurers' participation in the insurance market but also the degree of their reporting of non-financial information has impact on the level of nonfinancial reporting. Standardisation for the financial industry are a step forward and it might be an option to improve transparency and comparability of non-financial statements.