East African Underwriters Limited
Assets | Note | 2013 | 2012 |
---|---|---|---|
Ushs'000 | Ushs'000 | ||
Equipment | 10 | 46,235 | 107,267 |
Statutory deposit | 11 (c) | 501,284 | 356,066 |
Available for sale investments | 11 (a) | 1,659,817 | 1,494,221 |
Held to maturity investments | 11 (b) | 11,860,381 | 11,254,140 |
investment in associates | 11 (d) | 129,300 | 129,300 |
Premiums receivable | 12 | 1,306,789 | 761,557 |
Reinsurers' share of insurance liabilities and reserves | 13 | 6,410,965 | 5,166,260 |
Short term loans | 14 | 2,093,980 | 2,172,975 |
Other receivables | 15 | 320,749 | 383,411 |
Due from related parties | 16 (b) | 78,791 | 23,744 |
Tax recoverable | 9 (e) | 715,987 | 701,659 |
Cash and bank balances | 456,465 | 399,4765 | |
Total Assets | 25,580,743 | 26,545,365 | |
Equity and liabilities | |||
Capital and reserves | |||
Share capital | 17 | 4,000,000 | 2,050,000 |
Contingency reserve | 18 (a) | 2,299,387 | 2,093,771 |
Capital base growth fund | 18 (b) | 379,606 | 340,481 |
Fair value revaluation reserve | 818,129 | 702,213 | |
Retained earnings | 2,612,826 | 4,025,072 | |
Total equity | 10,109,948 | 9,211,537 | |
Liabilities | |||
Deferred tax liability | 9 (c) | 249,351 | 488,369 |
Payables arising out of reinsurance arrangements | 3,153,192 | 5,669,144 | |
Insurance contract liabilities | 19 | 7,157,695 | 5,627,846 |
Unearned premium reserves | 20 | 4,112,312 | 4,800,418 |
Provision for retirement benefit obligation | 327,596 | 179,529 | |
Other payables | 21 | 193,756 | 170,825 |
Due to related parties | 16 (c) | 276,893 | 397,697 |
Total liabilities | 15,470,795 | 17,333,828 | |
Total equity and liabilities | 25,580,743 | 26,545,365 |